April 1, 2023

Agent Banking Regulatory Bodies and Organizations in Nigeria

Hello Partner! Did you know that your business as an agent banker does not exist in isolation, and there are regulatory bodies and associations to regularize and promote agent banking activities in Nigeria? Want to know these regulatory bodies and associations? Keep reading this post.  

  1. Central Bank of Nigeria (CBN) 
Central Bank of Nigeria

The CBN is responsible for ensuring high standards of banking practice and financial stability and promoting an efficient payment system. To that end, it issues the guidelines for regulating Agent Banking and Agent Banking Relationships in Nigeria. Click here to know more. 

  1. Shared Agent Network Expansion Facilities (SANEF) 
Shared Agent Network Expansion Facilities (SANEF)

It is a body that connects banks, mobile money operators, and agents. It aims to drive financial inclusion, provide financial products and services, and ensure security within the agent banking industry in Nigeria. For more? Click here. 

  1. Enhancing Financial Innovation & Access (EFInA)
Enhancing Financial Innovation & Access (EFInA)

EFInA is an organization established to promote financial inclusion across Africa. It is popularly known for achieving financial inclusion and championing the unbanked in the Nigeria Financial Sector. Click here for more.  

  1. Association of Mobile Money & Bank Agents in Nigeria 
Association of Mobile Money & Bank Agents in Nigeria

This association helps facilitate, organize, and speed-up agents’ efforts toward the financial inclusion policy of the Federal Government of Nigeria. They hold annual conferences where issues regarding agent banking are discussed and addressed. You can get more information here.  

  1. Society for Agent Network Practitioners (SAB)
Society for Agent Network Practitioners (SAB)

This establishment acts as a professional body for agent banking practitioners and stakeholders in Nigeria

Leave a Reply

Your email address will not be published. Required fields are marked *

error: Content is protected !!