Telecom
PAFON 3.0: Agency Banking Key to Reaching Millions of Unbanked Nigerians – AMMBAN
Dr. Obioha Oti, National President of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), has described agency banking as Nigeria’s most critical last-mile channel for achieving meaningful financial inclusion, stressing that millions of Nigerians, particularly in rural and underserved communities, remain financially excluded despite notable progress in the sector.
PAFON 3.0
Speaking at the third edition of the Payments Forum Nigeria (PAFON 3.0), themed “Fair Digital Payments as a Catalyst for Deepening Financial Inclusion in Nigeria,” Oti, represented by Alhaji Yusuf Adeyemo, vice president of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN), said agency banking has become Nigeria’s most practical and scalable solution for bridging the persistent financial access gap caused by poor infrastructure, low financial literacy, trust deficits, and high service delivery costs.
According to him, without effective last-mile financial access, Nigeria’s financial inclusion ambitions may remain unattainable.
Oti noted that through extensive agent networks, Nigerians now enjoy convenient access to critical financial services including cash deposits, withdrawals, transfers, bill payments, account opening, and other essential banking products, adding that beyond transactional services, agency banking offers trust, human interaction, and proximity-factors that purely digital channels cannot fully replicate.
“Agency banking has emerged as the most practical, scalable, and human-centred solution,” he stated, adding that agents serve as trusted financial intermediaries within local communities.
Highlighting AMMBAN’s contributions, Oti said the association has played a central role in strengthening Nigeria’s financial inclusion ecosystem through policy advocacy, professional training, rural agent expansion, fraud awareness campaigns, consumer protection initiatives, and strategic collaborations involving banks, fintechs, telecom operators, and mobile money providers.
He further noted that the agency banking sector has created millions of jobs and unlocked significant economic opportunities nationwide.
Oti acknowledged the contributions of major ecosystem drivers, including the Central Bank of Nigeria (CBN), which he said continues to provide regulatory support through financial inclusion frameworks, consumer protection policies, and interoperability initiatives.
He also credited the Shared Agent Network Expansion Facilities (SANEF) for accelerating agent expansion across the country, while Enhancing Financial Innovation and Access (EFInA) was recognized for its support through research, innovation funding, and data-driven insights.
Despite these achievements, Oti warned that the sector continues to grapple with significant obstacles such as liquidity shortages, network instability, fraud risks, poor agent profitability, infrastructure deficits, and overlapping regulations.
He stressed that these challenges must be urgently addressed to sustain growth and deepen inclusion. “For inclusion to truly deepen, digital payments must be affordable, reliable, transparent, and accessible to all Nigerians,” he said, insisting that fairness in digital payments is essential to closing the financial inclusion gap.
He warned that unfair pricing structures, unstable systems, and exclusionary payment models could further marginalize vulnerable populations.
Looking ahead, Oti urged stakeholders across the financial ecosystem to prioritize stronger collaboration, improved agent profitability, infrastructure development, enhanced financial literacy, increased financing access for agents, and supportive regulatory frameworks.
He projected that Nigeria’s financial inclusion future will be “phygital,” combining physical agent networks with digital platforms to create seamless financial access.
According to him, agents are rapidly evolving beyond transaction points into community-based financial service hubs capable of driving grassroots economic development. “Agency banking is no longer just a distribution channel; it is the backbone of financial inclusion in Nigeria,” Oti declared.
He reaffirmed AMMBAN’s commitment to working with regulators, financial institutions, and technology providers to strengthen the ecosystem, empower underserved populations, and build a more inclusive national financial system.
Lebara Nigeria has become a member of the Global System for Mobile Communications Association (GSMA) as it expands operations in the West African country.
The membership places Lebara Nigeria within a global network of more than 1,000 mobile operators, device manufacturers, technology companies and digital service providers.
Through the GSMA, the company will have access to industry research, technical standards, policy engagement and industry initiatives.
Lebara Nigeria said the move reflects its participation in the wider telecommunications ecosystem as it develops its operations in Nigeria’s mobile market.
Nigeria’s telecommunications sector plays a central role in the country’s digital economy, with more than 170 million active mobile subscriptions supporting services such as digital payments, e-commerce, education and healthcare.
Industry analysts say participation in international bodies such as the GSMA supports knowledge sharing and the adoption of industry standards.
Lebara Nigeria said GSMA membership will support its engagement with industry developments and policy discussions in the telecommunications sector.
The company said it remains focused on operating in Nigeria’s mobile telecommunications market as demand for connectivity continues to grow.
GSM Association is the advocacy and lobbying organization for the mobile communications industry, representing more than 1,000 mobile operators as full members and a further 400 companies in the broader mobile ecosystem as associate members.
Management of Vitel Wireless, mobile virtual network operator (MVNO), has distanced the company from a fraudulent scheme operating under the name: “Vitel Shares Services.”
In an official statement, the management clarified that Vitel Wireless is not selling shares or running any investment schemes.
They warned that the operators of “Vitel Shares Services” are using unauthorised websites, mobile applications, social media promotions, and bank accounts falsely linked to Vitel Wireless to mislead the public.
The statement reads: “The attention of Vitel Wireless has been drawn to a fraudulent scheme operating under the name ‘Vitel Shares Services.’
“We wish to state clearly that Vitel Wireless has no affiliation with Vitel Shares Services, or any platform claiming to offer Vitel shares, investments, or financial products through unofficial channels.
“We do not solicit investments through agents, social media, websites, apps, or third parties. Any platform claiming to offer Vitel Wireless shares or investments outside our official channels is fraudulent and should be treated as such.
“We urge the general public to remain vigilant and verify all information through official Vitel Wireless communication channels before making any payments or sharing personal data.”
Airtel Nigeria has concluded its second Customer Forum in Abuja, bringing together a large section of customers including high-volume data subscribers, 5G customers, and key stakeholders in another landmark engagement aimed at addressing concerns around data usage, transparency, and customer experience.
The forum themed “Understanding Your Data and Taking Control 2.0.” aimed to strengthen trust in Nigeria’s rapidly evolving telecommunications landscape. The session also featured inputs from representatives of the Nigerian Communications Commission (NCC).
Delivering the Keynote remarks, Dinesh Balsingh, CEO of Airtel Nigeria, who was represented by Femi Adeniran, Director, Corporate Communications and CSR, emphasised that trust remains the most valuable currency in telecommunications, and Airtel remains committed to strengthening customer confidence through transparency and continuous engagement.
He explained that discussions around data consumption have become increasingly important as digital lifestyles evolve, with smartphones, cloud services, video streaming and emerging artificial intelligence applications significantly influencing data usage patterns.
According to him, Airtel recently introduced the Airtel Data Calculator, an innovative tool designed to help customers estimate their data needs based on online activities such as multimedia streaming, video calls, social media usage, and gaming.
“The purpose of the Airtel Data Calculator is to provide greater visibility, support informed decision-making and place more information directly in the hands of customers. Because transparency should never be viewed as a compliance exercise. Transparency is good business,” he stated.
He further reassured customers that Airtel has no incentive to shortchange subscribers through inaccurate billing, forced spending or unnecessary data depletion, stressing that the company’s growth depends on customer satisfaction, loyalty and trust.
Adeniran also highlighted Airtel’s continued investments in network infrastructure, fibre capacity, digital platforms, artificial intelligence capabilities, customer service systems and workforce development, noting that these investments are aimed at improving service quality and enhancing customer experiences.
Oladokun Oye, Director, Customer Experience, Airtel Nigeria, while welcoming participants to the event, said the forum was created to provide customers with an open platform for education, engagement and problem-solving, noting that the customer remains at the centre of Airtel’s business.
“Data has become central to everyday life, powering work, education, commerce, entertainment, healthcare and countless opportunities. As data usage grows, so too does the desire for greater visibility and understanding.
Today’s conversation is part of an ongoing journey. A journey toward greater transparency. A journey toward deeper understanding. And a journey toward a better customer experience for every Airtel subscriber,” he said.
The forum also featured practical demonstrations on data consumption management, device settings, and usage habits that impact data usage. It also included an interactive session by which Airtel teams provided clarifications and offered feedback to customers.
The Abuja event follows the successful maiden edition held earlier this year in Lagos and aligns with broader industry efforts led by the Nigerian Communications Commission (NCC) to improve consumer awareness, transparency, and confidence within the telecommunications sector.
UBA Surprises Thousands of Customers with Over ₦400 Million Cash Bonus
Lebara Nigeria Becomes Member of GSMA Network
FG to Abolish JSS-SSS Separation Policy after 20m Pupils Drop Out
Vitel Wireless Warns Public, Says it Not Running any Investment Scheme
Army Says Terrorists Now Recruiting, Raising Funds Online
Mobile Internet Gender Gap Widest in Africa – GSMA
London Strengthens Global Investment Ties with Africa @ First Ever London-Africa Business Summit
FG Targets Alleged N3tn Capital Flight, Opens Airtime Credit Market to Nigerian Fintechs
Japan, UNESCO Boost Digital Learning in 15 CoEs with Donation of ICT Equipment
Good News for DStv Users: Watch over 160 Channels Without Paying Extra
E-Business3 days agoLG Showcases AI-Powered Smart Living Innovations @ Africa Technology Expo 2026
Telecom3 days agoOADC Reaffirms Abundant Capacity in Data Centres in Nigeria to Host Financial Data
E-Financial3 days agoUBA mobilises employees across Africa for environmental clean-up, wellness campaign
General News3 days agoLASTMA Launches 3367 Toll-Free Hotline for Emergency Response, Traffic Management
E-Financial3 days agoPalmPay Calls for Trust, Infrastructure and Responsible AI to Drive Payment Ecosystem Innovation
E-Business3 days agoWant a Business Loan Without Interest? SMEDAN Launches N500m Fund
Telecom3 days agoALTON Backs NCC’s Local Smartphone Manufacturing Drive to Widen Digital Access
E-Financial3 days agongCERT Raises Alarm over Surge in Banks’ ATM Cyberattacks