Business
Airtel Nigeria gets final approval to operate agency banking
Airtel Africa Plc says it has receieved final approval from the Central Bank of Nigeria (CBN) to operate as a super agent.
Super agents are companies approved by CBN to recruit agents for agency banking, such as financial services within communities on behalf of banks to deepen financial inclusion.
In a statement on Tuesday, Airtel said the CBN awarded its subsidiary, Airtel Mobile Commerce Nigeria, with the full super agent licence.
The development comes about five months after the telecom company was granted approval-in-principle.
Airtel Africa had said final approval of the super agent licence was subject to the group satisfying certain standard conditions.
Prior, the telco firm had received CBN’s nod to operate a payment service bank (PSB) via Smartcash Payment Service Bank Limited.
Super agents are companies approved by CBN to recruit agents for agency banking, such as financial services within communities on behalf of banks to deepen financial inclusion.
According to the CBN’s regulatory framework, super agents are responsible for monitoring and supervising the activities of agents, including the volume and value of transactions for each type of service they offer, as well as monitoring effective compliance with set limits.
Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.
She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others
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