Category: Agent Banking
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Banks enrol 65,753 mobile money agents.
Chances of the Central Bank of Nigeria (CBN) meeting its target of having 500,000 mobile money agents to serve about 105 million adult Nigerians by the year 2020 looks increasingly remote, as financial institutions in the country have so far enrolled only 65,753 of such agents. This means that with less than two years to…
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MTN creates subsidiary for mobile financial services
Ife Ogunfuwa MTN Nigeria has registered a new subsidiary with the Corporate Affairs Commission, Yello Digital Financial Service Limited. The subsidiary, which has yet to commence operations, was created in June 2018 to provide mobile financial services to Nigerians. The creation of a subsidiary is one of the requirements stipulated by the Central Bank of…
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Microfinance Banks in Nigeria- The Prospects.
Jola-michael Samson. T : Financial Inclusionist. Provision of loans is what most people know about microfinance; it is also the provision of payments services to the low-income earner. Microfinance Bank was established by the Central Bank of Nigeria (CBN) to provide these services in order to alleviate poverty. It is evident that this goal has…
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FirstBank Demystifying Financial Inclusion With XploreFirst
Worried by the increasing rate of the unbanked population, the Federal Government, through the Central Bank of Nigeria (CBN), kicked off a campaign in 2012 to achieve 80 per cent financial inclusion of adult population by 2020. The CBN carried out the campaign through agency banking, mobile banking/mobile payments, linkage models and client empowerment, to…
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Appraising Nigeria’s Agent Banking Policy.
There is no doubt that the Financial System Strategy 2020 goal set by the Central Bank of Nigeria (CBN) towards 80 per cent financial inclusion by 2020 can only be possible by a careful execution and collaboration by every stakeholder. Financial inclusion means that irrespective of income level, all individuals, households and businesses have access…
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MTN gets super-agent license from CBN, in bid for a larger share of Nigeria’s financial services space.
Over the years, the Central Bank of Nigeria has been introducing a series of initiatives to drive financial inclusion penetration in the country. Examples of such initiatives include the Shared Agent Network Facility (SANEF) and Payment Services Banks, both of which were introduced within the last two years. Both MTN Nigerian and Airtel Nigeria have since indicated interest…
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Appraising Nigeria’s Agent Banking Policy.
https://www.independent.ng/appraising-nigerias-agent-banking-policy/