ITEX Receives CBN Licence to Operate as Super Agent

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

GTBank Releases Q3 2019 Unaudited Results, Reports Profit After Tax of ₦146.99 Billion

Key Highlights  Gross Earnings decreased by 3.3% to N326.03bn from N337.27bn in Q3 2018 Profit before Tax increased by...

How to Get Noticed by Your Boss’s Boss

You’re bright. You have good ideas, insights, and the ambition to take on more. But you aren’t getting the...
- Advertisement -
- Advertisement -

Lagos, Nigeria, September 2019: Itex Integrated Services Ltd, an innovative Fin-Tech Company that deploys secure solutions to diverse customers, has been granted the licence to operate as a commercial Super Agent in the nation’s financial services by the Central Bank of Nigeria (CBN).

The licence will enable Itex to provide basic financial services such as account opening, BVN capture, funds transfer, cash withdrawals, bill payments to the unbanked, particularly in rural areas. The licence will also enable the Company to recruit more agents to carry out financial services.

Commenting on the licence, Managing Director and CEO, Itex Integrated Services Ltd, Mr. Ernest Uduje stated that the Company is elated to have gotten the full approval to be a Super Agent. He said “We are indeed happy to have qualified for this licence. Our primary goal is to provide ease of financial services and transactions for our customers including those in the rural areas. This licence gives us an opportunity to provide these services on an even larger scale, thus providing financial empowerment to the unbanked and underbanked”.

Read:  CBN Set to Launch Clean Note Policy, Banknote Fitness Guidelines

‘This is also a  testament to the fact that we have systems, structures and security to render the best payment solutions for our clients, providing tailor-made services to them and providing solutions that will guarantee smooth and secure transactions” Mr. Uduje added.

The Super Agent licence is part of CBN’s efforts to deepen financial inclusion in the country and reducing the financial exclusion rate to 20 per cent by 2020.

Read:  Banks risk legal suits for deducting stamp duties from customers’ accounts

Itex is one of the first organizations to successfully deploy and manage Point of Sale (POS) Terminals in Nigeria. Its customary POS applications ease the electronic payment and revenue collection of bills, tariffs, and airtime. The Company currently has 2200 agents in the field and are already carrying out a volume of about 2Bn worth of transactions monthly and hopes to increase the number by virtue of the new commercial Super Agent licence.

Read:  Cardinal Stone Research H2 2019 Outlook: Fish or Cut Bait

Itex Integrated Services Limited is an innovative fintech company that designs and deploys secured solutions to diverse Pan-African customers. Itex is one of the first organizations to successfully deploy and manage Point-of-Sale (POS) Terminals in Nigeria. Our custom payment applications ease electronic payments, revenue collection, utility bill and value-added service payments such as airtime, electricity, cable TV, tariffs, toll payments, etc. We make the payment experience enjoyable for our clients by offering them the ability to monitor and control their transaction real-time.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

“Best Global Brands 2019” – Mercedes-Benz is once again the world’s most valuable luxury car brand

Mercedes-Benz further increased its brand value and is once again the world's most valuable luxury automotive brand. In the...

Owo Arugbo: Ekiti Begins N20,000 Payment To The Elderly As Monthly Stipend For Social Security Scheme

Ekiti State Governor, Dr Kayode Fayemi on Wednesday re-launched the social security Scheme for elderly citizens in the state with, a pledge to commit more...

Nestlé reports nine-month sales for 2019, revamps waters business as organic growth slows

Organic growth of 3.7%, with real internal growth (RIG) of 3.0% and pricing of 0.7%. Growth was supported by strong momentum in the...

GTBank Releases Q3 2019 Unaudited Results, Reports Profit before tax of ₦170.7 Billion

Guaranty Trust Bank plc (GTBANK) has released its unaudited financial results for the period ended September 30, 2019, to the Nigerian and London Stock...

More Articles Like This