Elevating Financial Inclusion: SANEF and CIBN Collaborate to Professionalize Agency Banking
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In a significant move to bolster financial inclusion and enhance professionalism within Nigeria’s banking sector, the Shared Agent Network Expansion Facilities (SANEF) Limited and the Chartered Institute of Bankers of Nigeria (CIBN) have entered into a strategic partnership. This collaboration aims to expand the Agency Banking Certification Programme, a pivotal step towards standardizing and enhancing the quality of agent banking services nationwide.
A Strategic Alliance for National Impact
The partnership, formalized through a Memorandum of Understanding (MoU) signed in Lagos, brings together SANEF’s extensive network and deep integration within the financial inclusion ecosystem with CIBN’s commitment to professional excellence in banking. Professor Pius Deji Olanrewaju, President and Chairman of Council at CIBN, emphasized the timeliness and strategic nature of this alliance, stating, “Our goal is to enhance professionalism among agent bankers, support the national financial inclusion strategy, and contribute to building trust and integrity within this growing segment of the financial services sector.”
Empowering Agents Through Certification
The Agency Banking Certification Programme is designed to equip point-of-sale (POS) agents, National Identification Number (NIN)/Bank Verification Number (BVN) agents, agent network managers, and other relevant personnel with the necessary knowledge and skills to effectively manage financial resources. By standardizing training and certification, the programme seeks to ensure that agents can deliver quality customer experiences and uphold the credibility of financial institutions they represent.
Mrs. Uche Uzoebo, Managing Director and Chief Executive Officer of SANEF, described the MoU as a visionary partnership that aims to expand financial inclusion through agent banking training, financial literacy, and knowledge dissemination. “Over the years, SANEF, in strong collaboration with our key stakeholders, banks, and licensed super-agents/mobile money operators, have continued to deepen the frontiers of financial inclusion and agent banks. Financial literacy and training have remained a key part of this objective,” she noted.
Aligning with National Competency Frameworks
This collaboration aligns with CIBN’s LEGACY agenda, particularly emphasizing ‘Competence’ in the banking and finance industry. By implementing standardized certification programmes, the initiative supports the broader competency framework for Nigeria’s banking sector, ensuring that individuals are equipped with the necessary expertise to contribute to the growth and stability of the economy
Looking Ahead
As Nigeria continues to strive towards greater financial inclusion, the partnership between SANEF and CIBN represents a significant step in professionalizing agency banking. By enhancing the skills and credibility of agents, the initiative is poised to build trust among consumers, expand access to financial services, and ultimately contribute to the nation’s economic development.
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