In its bid to service the unbanked and rural population in the country,
renowned Payment Service Bank, MoneyMaster PSB has birthed its market
offering and flagship product, “G-Kala”.

The new product, according to the Managing Director of Moneymaster PSB,
Demola Elutilo, who spoke at the launch event held at Lagos Travel Inn,
will increase financial services accessibility and deepen financial
inclusion while creating new job opportunities for the populace.

He informed stakeholders at the event, including media practitioners,
regulators, market and trade associations and trade partners  that
G-kala will bring a huge number of the unbanked populace into the
financial system of the country, adding that the operations of
MoneyMaster PSB would empower many Nigerians financially and bring, most
especially, people in the rural areas into the banking system.

Elutilo explained that the innovative features of G-kala, will
revolutionize the Nigerian payment system as well as advancing the
cashless economy initiative of the federal government.

Said he, “MoneyMaster PSB will bring convenience and inclusion across
all our target segments of the population. With G-kala, your phone is
your bank. Aside from the benefits to our customers, we are onboarding a
very large number of agents for cash in and cash out, through which we
are creating new jobs in our various communities, which is also a boost
to the nation’s economy. This is the beginning of our journey to
revolutionize the financial services landscape in the country.”

From the Nigeria Interbank Settlement Scheme (NIBSS), came words of
admonition and encouragement for MoneyMaster PSB on the launch of
G-Kala. The General Manager, Business Development, Mr Samuel Oluyemi
lauded MoneyMaster PSB for introducing G-kala. He disclosed that NIBSS
had worked with MoneyMaster PSB from the beginning to ensure a seamless
integration with the countrywide banking system. He added that the
payment service bank is a great plus to promoting financial inclusion
and widening the scope of service providers across the country,

He disclosed that so much was expected from the unbanked population
across the country for the services of payment services banks and called
on MoneyMaster PSB to seize the initiative of fast deployment of services to address the needs of that critical segment of the

The product is designed to operate simpler, convenient and more reliable
channels for customers to conduct financial services. It will provide an
easy way for people to move money, access financial information, and
make bill payments. To open an account, all the customer needs to do is
dial *995# and then follow the prompts from a Glo line or from any other
telecommunications network as MoneyMaster PSB can ride on any network.

The event was attended by student union representatives from University
of Lagos (Unilag), Lagos State University (LASU), and Yaba College of
Technology, representatives of several markets and trading centers in
Lagos including Ladipo, Mile 12, Computer Village main markets.

One of the students that attended event, Doyin Fayemi, explained that,
“I like convenience because for me, it’s about doing something at my own
pace and when it’s comfortable. No one wants to run around just because
they want to do simple cash-in and cash-out transactions, and pay bills.
With G-kala, I can accomplish this right now on my phone. G-kala clearly
brings a lot of convenience.”