Momo agent

Banking

How to become a Momo agent in Nigeria 2020/2021

Momo agent – A recent survey shows that the Nigerian banking industry has been distorted, the advent of mobile phone in Nigeria has not only solved the problem of communication gap, likewise has improved the availability of financial service in the present day Nigeria.

Bringing financial inclusion in the spotlight, the Central Bank of Nigeria (CBN) undoubtedly appears to be winning the war against unbanked and the under bank in the Nigerian economy, by promoting and making a viable ground for inclusiveness in the finance industry to thrive.

It’s no longer a news, as can rightly be seen in every corner of Nigeria, how independent agents are operating from mere kiosks rendering financial services in the most seamless way.

Given to Nigeria’s population as the most populous black nation of over 200 million people, it would appear a gross stupidity to assume the agent banking space has been so populated and saturated.

For the record, the agent banking market has not attained it average let alone considering if it operates on a peak value.

That said, if by any means you’d wish to join the agent banking service in Nigeria, Momo agent remains one of the best service providers that can assure your success with a smooth sailing in the industry market.

Read also: How to become a Firstmonie agent in Nigeria

What is Momo agent?

The Acronym Momo here simply refers to “Mobile Money” typically an MTN based mobile money product, which is aimed at enhancing money transfer services in Nigeria.

MTN as you are aware is a telecommunication network in Nigeria that provides both voice and data services to the Nigerian populace.

In fact MTN is the pioneer telecommunication company that gives Nigerians access and the right to enhance communication from the comfort of everyone’s domain at any time.

Courtesy of the achievement of former President Olusegun Obasanjo.

As it stands, MTN not only provides voice and data services, but goes extra mile in its way to now help Nigerians send money even to the most remote localities, in the most seamless way the commercial banks have not done even.

Content target

This guide will intentionally target two categories of users basically;

  • The agents and
  • The users

The agent here is anyone who wants to offer this service to Nigerians, while Nigerians who would be needing this service are the users, better still the target market, so you get acquainted with that.

How to become a Momo agent in Nigeria

Joining the Momo agent service in Nigeria does not involve a herculean task, however, you’re expected to meet few basic requirements and modalities to kick off in the first instance.

To further help you achieve this, the below represents the process flow to becoming an agent.

  • Kindly visit the nearest MTN outlet to register your interest

On your visit, kindly be informed of the following requirements which are basic

Requirements

  • You should have a business running already, better still invest in the agency business. It is peculiar that your shop should be cited in a dense traffic area for routine patronage
  • You should have a valid ID card (Driver’s license, National ID card, Voters card or International passport) these cards must be verifiable.
  • A copy of your passport photograph is necessary alongside
  • N20,000 seed capital investment into the project

Read also: How to join UBA agent banking (UBA moni agent)

Having acquainted yourself with the above requirements, on arrival to the nearest MTN store

  • You will be issued a form, which you ought to complete while paying attention to details, you may as well download the form Here, complete it before visiting the nearest office.

Having done this, further physical assessment will be carried out on your location before you get the final approval to becoming a Momo agent.

That is for the agent, now to the users who could also be referred to the market.

How to send money through Momo agent in Nigeria

Sending money via the Momo terminal starts by locating an agent location in the first place, MTN as the mother of USSD code has made this available via its USSD.

To locate an agent location;

  • Kindly dial “*223#” from your mobile phone.

You will receive a screen prompt thus;

“Welcome to MoMo Agent locator service. Please enter the state name (It’s either you type the first three letters of the state in capital letters or you type completely accordingly)

Assuming you are in Anambra, type “ANA” OR Anambra

You will be required to type in the LGA/town/city, upon this action, you will receive the list of agents in your location asap.

  • On arrival to the agent location, hand in the proposed send fund and the receiver’s phone number to the agent.
  • On completion of the transfer, 5 digit control number will be sent to you, while further 5 digits will be sent to the receiver accordingly.
  • Kindly forward the 5 digits control you received to the receiver, while he or she locates the nearest Momo agent to cash out the money.

How to receive money through Momo agent

Receiving money from the Momo as well is not difficult, all you’ve got to do is locate the nearest agent and cash out immediately.

To locate the nearest agent kindly;

  • Kindly dial “*223#” from your mobile phone.

You will receive a screen prompt thus;

“Welcome to MoMo Agent locator service. Please enter the state name (It’s either you type the first three letters of the state in capital letters or you type completely accordingly)

Assuming you are in Anambra, type “ANA” OR Anambra

Read also: How to become Access bank POS agent/CLOSA agent/ Mobile money

You will be required to type in the LGA/town/city, upon this action, you will receive the list of agents in your location “asap.”

  • On locating the agent, recall, you received a 5-digit code earlier when the sender initiated the transfer from momo agent location, you as well received 5-digit code from the sender officially as they completed the transfer. You’re expected to provide the both codes to the agent
  • The agent will process your transfer immediately with the codes as made available and pay you immediately.

Then start spending your money immediately

How to create a Momo agent wallet

Having a wallet will enable you as an agent to convert your phone number to bank account, which you can always store money for different transactions you could help your customers with.

You can register as an agent using this method in simple steps below;

  • Get a valid MTN SIM card, from line dial *502#
  • You will be asked to confirm your shop location
  • Then set PIN for your momo wallet

On successful registration, you will receive a message congratulating you, and your phone number is now your account number, please transfer funds to your wallet to commence.

Read also: SurePadi agent – How to become a SurPadi agent in simple steps

FAQs on MTN Momo agent

Momo registration form

Kindly download the form here and start your application. The agent code in Nigeria is centered around *223#,

The agent commission is enticing, though the full detail is yet to be ascertained as at the time of writing this guide.

Conclusion

There’s a lot to benefit from as a momo agent in Nigeria, you make money from sending and receiving funds for your customers. You as well make money by helping your customers settle their various bills.

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