Nigeria: SANEF and CIBN Forge Alliance to Professionalize Agency Banking and Deepen Financial Inclusion in Nigeria

In a strategic push to advance financial inclusion and elevate standards in Nigeria’s banking sector, the Shared Agent Network Expansion Facilities (SANEF) Limited and the Chartered Institute of Bankers of Nigeria (CIBN) have signed a landmark Memorandum of Understanding (MoU) aimed at professionalizing agency banking through a nationwide certification programme.

Strengthening Financial Inclusion Through Collaboration

The MoU, signed in Lagos, unites SANEF’s expansive agent network and field-level experience with CIBN’s longstanding reputation for driving professional excellence in banking. The joint effort seeks to standardize and accredit the operations of agent bankers, reinforcing their role as critical enablers of inclusive financial services across Nigeria.

Professor Pius Deji Olanrewaju, President and Chairman of Council at CIBN, hailed the initiative as a timely and transformative step aligned with national priorities:

“This partnership aims to raise the bar of professionalism among agent bankers, promote trust and integrity, and drive the broader financial inclusion agenda of the Federal Government.”

Empowering Agents Through Targeted Training and Certification

At the core of the partnership is the Agency Banking Certification Programme, which provides structured training for point-of-sale (POS) agents, BVN/NIN enrollment agents, network managers, and other frontline personnel involved in delivering financial services.

The programme is designed to:

• Equip agents with essential banking, customer service, and compliance knowledge

• Enhance service quality and consumer protection

• Ensure alignment with national financial inclusion goals

• Reinforce the credibility of agent banking as a professional channel

Mrs. Uche Uzoebo, Managing Director and CEO of SANEF, described the initiative as a strategic response to the evolving needs of Nigeria’s unbanked and underserved populations:

“Through collaborative efforts with banks and licensed mobile money operators, SANEF has driven access to financial services. With this certification programme, we are expanding that impact by ensuring agents are not only accessible but also equipped with the right skills and knowledge.”

Aligning with CIBN’s LEGACY Competency Framework

The initiative reflects CIBN’s commitment to its LEGACY agenda, particularly its emphasis on ‘Competence’—ensuring practitioners in the financial ecosystem meet defined standards of excellence. By embedding certification into the agency banking framework, the programme contributes to a more resilient, professional, and trusted financial services sector.

Building for the Future

As Nigeria intensifies efforts to expand access to formal financial services, the SANEF-CIBN collaboration marks a major milestone in professionalizing agency banking. The initiative is expected to:

• Build consumer trust in agent networks

• Enhance financial literacy at the grassroots level

• Support economic empowerment through job creation and capacity building

• Accelerate progress toward the Central Bank of Nigeria’s financial inclusion targets

Ultimately, the partnership underscores the shared vision of SANEF and CIBN: to ensure that as more Nigerians enter the formal financial system, they do so through secure, competent, and reliable agents.