EFInA Super Agents Scoping Study

The success of agent banking is dependent on many factors, but significant among them is agent management. A well-managed agent network can help providers build brand awareness, educate customers and meet system-wide liquidity demands, all of which build confidence among users in a service that has low awareness. A poorly managed agent network, by contrast, is characterised by widespread low quality customer experiences, which in turn erodes trust and drives away business.

In 2015, the Central Bank of Nigeria (CBN) recognised and acknowledged the role played by agent network managers by releasing the Regulatory Framework for Licensing Super Agents in Nigeria, so as to strengthen agent networks. This EFInA Super Agent study seeks to analyse and evaluate Nigeria’s Super Agent model in comparison with successful models in other markets, with an aim to apply relevant lessons in Nigeria. The recommendations in this document are useful for regulators, financial services providers and Super Agents to deepen agent banking in Nigeria.

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