NIGERIA: CBN Grants Airtel Approval-in-Principle to Operate Super Agent

The Central Bank of Nigeria (CBN) yesterday granted Airtel Nigeria the approval in principle to operate super-agent network in Nigeria.

Airtel Africa, the parent company of Airtel Nigeria, announced this in a statement.

With the super-agent licence, Airtel would be able to create an agent network that could service the customers of licenced Nigerian banks, Payment Service Banks (PSB) and licenced mobile money operators in Nigeria.

The approval came few days after the CBN granted Airtel and MTN approval-in-principle to operate as PSBs in Nigeria.

According to the statement, “Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, announces that its subsidiary Airtel Mobile Commerce Nigeria Ltd has been granted approval in principle by the Central Bank of Nigeria to operate as a super-agent in Nigeria.

“The super-agent licence is distinct from the PSB licence, for which we received approval in principle on November 4, 2021.” The PSB licence was 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 wallet 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,” it added.

Just like the CBN’s approval in principle for PSB operational licence, the final CBN’s approval of the super-agent licence to Airtel Nigeria, is also subject to the Group satisfying certain standard conditions.

SOURCE: THISDAY