MoneyMasterPSB Reappointed for Second Phase of Lagos Food Discount Market

MoneyMasterPSB Reappointed for Second Phase of Lagos Food Discount Market

The Lagos State Government has reappointed MoneyMasterPSB, a leading payment service bank, to manage transactions for the second phase of the "Ounje Eko" food discount market, which will be launched across the state on Sunday, September 1, 2024.

"Ounje Eko" is an initiative designed to provide a 25 percent discount on a variety of food items to residents of Lagos State, helping to alleviate the financial burden caused by rising food prices. The discount market, which was initially piloted in March 2024, will now be extended to all Local Government Areas (LGAs), Local Council Development Areas (LCDAs), and the campuses of five post-secondary institutions in the state.

MoneyMasterPSB was selected to continue its role in the program due to its innovative payment and collection technology. The bank's advanced solutions ensure smooth transactions at the discount markets, guaranteeing a seamless experience for both patrons and vendors. This reappointment reflects MoneyMasterPSB’s successful performance during the program’s first phase and its strong payment infrastructure, which facilitates secure and efficient transaction processing.

In a statement, MoneyMasterPSB expressed its excitement to continue partnering with the Lagos State Government in the "Ounje Eko" initiative. The bank emphasized that the program aligns with its corporate philosophy of enhancing people's lives by providing valuable financial services.

MoneyMasterPSB, a Central Bank of Nigeria (CBN)-licensed provider, is known for its innovative digital financial products and services, which aim to bridge the gap between the banked, underbanked, and unbanked populations. The bank’s involvement in the "Ounje Eko" program is a testament to its commitment to supporting sustainable living through financial technology.