Nume Ekeghe
In line with its drive to enhance access to financial services in the country, the Central Bank of Nigeria (CBN) has said it will incentivise mobile money operators (MMOs) and Super Agents with financial support of up N500 million.
This, it explained would come under its Shared Agent Network Expansion Facility (SANEF).
The central bank disclosed this in a document on the SANEF Framework that was posted on its website yesterday.
The facility was introduced through a collaboration between the CBN and commercial banks and would have an interest rate of five per cent per annum, a maximum tenor of 10 years and is to be disbursed in tranches.
This, is however subject to satisfactory performance by the MMO or super agents.
SANEF provides financing to CBN-licenced Super Agents and Mobile Money Operators, to expand their networks to deepen financial inclusion in Nigeria.
The facility is expected to enhance the capacity of the operators…
