EFINA, SANEF Host North Central Quarterly Financial Services Agents Forum In Abuja

Proshare

Friday, September 06, 2019 / 02.30PM  / Ottoabasi Abasiekong  for Proshare WebTV / Header Image Credit: WebTV

 

Financial services agents across the North-Central region of Nigeria, have called on the Central Bank of Nigeria and the Nigerian Inter-Bank Settlement Systems, NIBSS, to work out measures to speedily resolve the rate of failed and delayed transactions on the point-of-sales, POS, machines while carrying out their mobile money and agency banking operations.

This was part of their feedback at the Quarterly Financial Services Agents forum for the North-Central Region in Abuja, hosted by Enhancing Financial Innovation Access, EFINA ,in collaboration with the Shared Agent Network Expansion Facility, SANEF. 

The Agents raised concerns over the slow turnaround time in transactions especially in the rural areas, and tasked the CBN to assist in resolving the issues.

They believed that Nigeria's quest for attaining 80% financial inclusion for adults by 2020 hinges on seamless mobile transactions, across the country.

Giving her opening remarks at the event the Head, Programs for EFINA Nigeria Mrs Ashley Immanuel said the forum was an opportunity for expanding financial inclusion in the country. 

She acknowledged the fact that agents are a crucial part of the equation in the financial inclusion framework. 

According to her the 2018 EFINA survey revealed that 3% of Adults used bank agents, while 1% used mobile money agents. 

Immanuel speaking further said that EFINA was committed to growing the Agent banking services in the country. 

The EFINA Head of Programs said the collaboration with SANEF was geared towards creating an enabling environment to deepen financial inclusion. 

SANEF Head of Distribution & Engagement, Mrs Uche Uzoebo, in her remarks reiterated the focus of achieving 500,000 financial access point by 2020. 

Uzoebo said SANEF was committed to deepening financial inclusion in Nigeria and also driving financial literacy. 

She assured the Financial Services Agents that SANEF will continue to support them in the area of training, that will equip them to carry out their tasks effectively.

From the regulatory perspective the Central Bank of Nigeria reassured the financial services agents that they are vital to the plan of the closing the financial inclusion gap in the country, which currently has 36.9m adults financially excluded at the moment. 

The Head, Digital Services at CBN Mr Stephen Ambore noted that there is a correlation between financial inclusion and GDP (Gross Domestic Product) growth in countries.

He informed stakeholders that the CBN will work assiduously to provide an enabling environment for financial services agents in the country. 

Ambore said the CBN is also looking at building a robust and inclusive payment infrastructure in the country. 

Also speaking at the forum Mr Emmanuel Okoegwale of the National Social Investments Program asserted that the NSIP will continue to assist in expanding agent banking services.

Okoegwale said the NSIP is also carrying out a mapping of microfinance banks  to assist the Agents on the field, and also link the beneficiaries of its initiatives to the Agents Association in Nigeria. 

Mr Gbekeleoluwa Nubi of the Nigerian Interbank Settlements System, NIBSS in his presentation stressed that the target of achieving 100m unique BVNs in Nigeria, will be possible through collaboration amongst all the relevant agencies. 

Nubi added that Nigeria currently has about 39m BVNs which shows there is a lot of work to be done in the next five (5) years to achieve the target. 

The event featured a panel session that discussed the issues facing financial services agents, and how agency banking and mobile money can be repositioned in the country. 

Giving their feedback financial services agents across the North-Central region of Nigeria,  called on the Central Bank of Nigeria and the Nigerian Inter-Bank Settlement Systems, NIBSS to work out measures to speedily resolve the rate of failed and delayed transactions on the point-of-sales, POS machines while carrying out their mobile money and agency banking operations. 

The Agents also raised concerns over the slow turnaround time in transactions especially in the rural areas, and tasked the CBN to assist in resolving the issues.

They believed that Nigeria's quest for attaining 80% financial inclusion for adults by 2020 hinges on seamless mobile transactions, across the country. 

In response the CBN assured the agents that it will work with NIBSS and other related agencies to ensure prompt resolution of the issues of failed transactions and the slow turnaround time in mobile money and agency banking operations. 

Highlight of the event was the presentation of rewards and appreciation to high-performing financial services agents at the forum.

 

Proshare Nigeria Pvt. Ltd.

 

Related News

1.       Firstbank Is Reducing Poverty, Deepening Financial Inclusion Through Its 31,000 Agent Network

2.      EFINA Partners SANEF And NIBSS To Deepen Financial Inclusion In Nigeria

3.      National Identity Management In Nigeria: NIMC and Matters Arising

4.      Promoting Financial Inclusion Through Payment Service Banks in Nigeria

5.      FSDH Holds Roundtable on "Women, Money and Building a Financial Legacy" with Dolapo Osinbajo

6.      First Country Office of Western Africa (WBAF) opens in Ghana

7.      EFInA Hosts Discourse on Increasing Opportunities for Women in Agent Banking in Nigeria

8.     AfDB and Partners Launch New Fund To Boost Digital Financial Inclusion

9.      Firstbank Demystifying Financial Inclusion with Xplorefirst

10.  Pre-University FREE Python and Introductory Machine Learning Classes

11.   CBN Partners Women's World Banking Group To Explore Deepening Financial Inclusion For Nigerian Women

12.  United Capital makes Giant Strides for Financial Inclusion

13.  EFINA Committed to Nigeria's Financial Inclusion by 2020

14.  Investment One Launches *5678# USSD Code to Drive Financial Inclusion in Nigeria

15.  NIMC Extends Diaspora Enrolment to United Arab Emirates and United Kingdom

16.  Ecobank Drives Financial Inclusion; Launches EcobankPay Zone At Mushin

17.   Your Digital Driver's License Is Closer Than You Think

18.  FirstBank Rewards Customers with Cardless Financial Transactions

19.  Data Science Nigeria democratises Artificial Intelligence learning

20. Google, UBA Collaborate to Provide Free Wi-Fi to Customers




Proshare Nigeria Pvt. Ltd.



Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP