FinTech

Financial Inclusion: SANEF Records 0ver 190,000 Partner Agents  

Ronke Kuye, CEO SANEF

The financial inclusion project of the Central Bank of Nigeria (CBN) has recorded a major milestone as Shared Agent Network Facility (SANEF) claimed over 190,000 partner agents located nationwide, FINTECH AFRICA has learnt.

Members of the network include Innovectives, Capricom Digital, Cellulant, eTranzact, Inlaks, Interswitch (IFIS), Pagatech and Unified Payment. Others are MTN Nigeria, iTex, 3Line, ESL, Flutterwave, Express Payment, Globasure etc.

SANEF is a project powered by the CBN, deposit money banks, Nigeria Inter-Bank Settlement Systems (NIBSS), licensed mobile money operators and shared agents with the primary objective of accelerating financial inclusion in Nigeria.

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The initiative involves on-boarding 40 million low income and underserved Nigerians into the financial system, increasing financial access points from the current 50,000 to 500,000 by the year 2020. It also involves the deepening of access to mobile and digital financial products and services such as savings accounts, microloans, insurance and pensions by Nigerians.

So, wherever you see the SANEF sign, you can perform basic financial services such as account opening, cash deposits and withdrawals, funds transfer as well as bills payment.