Airtel Gets CBN’s Approval To Operate As A Super Agent In Nigeria

Airtel Africa Has Paid Off $450 Million In Senior Debt Due In 2024
Airtel Africa Has Paid Off $450 Million In Senior Debt Due In 2024

After a week of telco firm receiving CBN’s approval to operate a payment service bank via a Smartcash Payment Service Bank Limited, Airtel  has been given approval to operate as a Super Agent in Nigeria. 

With these, companies on the other hand, based on the  CBN directives are to recruit for agency banking to reduce the deepen financial inclusion.

The Nigeria Exchange Limited (NGX) on Monday, has said Airtel Mobile Commerce Nigeria, its subsidiary will operate the agent banking licence.

“The super agent licence is distinct from the Payment Service Bank (PSB) licence for which it received approval in principle on 4 November 2021,” the statement reads.

“The PSB licence is required for Airtel to be able to provide financial services in Nigeria such as accepting cash deposits and carrying out payments and remittances, issuing debit and prepaid cards, operating electronic wallets, and rendering other financial services.

“Under the super agent licence we would be able to create an agent network that can service the customers of licensed Nigerian banks, Payment service banks and licenced mobile money operators in Nigeria.

“Final approval of the super agent licence is subject to the Group satisfying certain standard conditions.”