Agent Networks in Nigeria: Exploring Opportunities for Increasing the Deployment of Agent Networks in Nigeria
July 12, 2017
EFInA hosted its seventh breakfast series event in July 2017 to disseminate key findings of its research study titled “Exploring Opportunities for Increasing the Deployment of Agent Networks in Nigeria”. This study explores how agent networks can help address the barriers to the roll out of conventional (non-agent) financial access points, as well as the potential collaborative opportunities for agent networks that exist in Nigeria.
Mrs. Linda Quaynor, General Manager of EFInA, shared a comparative analysis of active financial access points per 100,000 adults in Kenya (180.6), Tanzania (135.4), Uganda (116.3), Bangladesh (44.1) & India (16.9), and revealed that Nigeria (16.6) is far behind in active financial access points per 100,000 adults when compared to these other countries.
Mrs. Quaynor further highlighted that the South East geopolitical zone in Nigeria has the highest active financial access points per 100,000 adults at 23.8. Financial access points per 100,000 adults in other zones in Nigeria are as follows: South West (23.6), North Central (18.3), South South (14.7), North East (11.4) and North West (10.4).
Aliyu Abdul-Hameed, MD/CEO of Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL) shared some insights on the opportunities in the agribusiness value chain and discussed the potential for agent network providers in the sector.
Emmanuel Okoegwale, Payment Adviser, National Cash Transfer Office, Office of the Vice President, gave an overview of the various Social Intervention Programmes and how agent networks can reach beneficiaries who are at the last mile.
Mr. Olawole Asoro, Head, Corporate Sales & Key Accounts Interswitch Financial Inclusion Services (IFIS), presented the Super Agent footprints of IFIS to date and gave an overview of IFIS’ agents spread across Nigeria.