E-Financial
SANEF’s Uche Uzoebo Highlights AI as Next Frontier in Advancement of Financial Inclusion

With progress made in accelerating financial inclusion to unbanked and underbanked communities in Nigeria, the Shared Agent Network Expansion Facilities Limited (SANEF) has posited Artificial Intelligence (AI) as the next step to advancement in financial services in the country.
Speaking at the just concluded Payments Forum Nigeria (PAFON 2.0), Mrs. Uche Uzoebo, md/ceo, SANEF Limited, noted that as technology evolves rapidly within the financial ecosystem, Financial Inclusion must continue to be at the center of the nation’s progress.
According to her, agent banking has been a game-changer in expanding financial inclusion across Nigeria. “By deploying agents in underserved areas, we have brought financial services and banking products such as account opening, cash in, cash out, bill payment, transfers and other services closer to the unbanked and underserved.”
With the Agent Banking model, SANEF has bridged critical gaps by reducing the need for long queues in physical bank branches, allowing individuals in the hinterland areas to access banking services without traveling long distances. Additionally, agents often communicate in local languages, making transactions easier for those with limited literacy, while reducing reliance on complex documentation. This has remained a critical and important elixir in Financial Inclusion.
She however noted that AI presents a huge opportunity to align with global trends in pushing financial inclusion further and faster.
“It is no gainsaying that, Artificial Intelligence (A.I.) is transforming the financial services industry at an unprecedented pace, reshaping how businesses interact with customers, manage risks, and expand financial inclusion. It has become the invisible engine driving the modernization of financial products and services. It is no longer a futuristic concept; it is at work right now all over the world, powering mobile banking apps, automating customer service, detecting fraud and enabling instant lending decisions.
In Nigeria, where millions remain unbanked and underbanked, Artificial Intelligence presents a game-changing opportunity to bridge financial gaps, enhance accessibility, and improve the overall efficiency of the financial ecosystem.”
She disclosed that the application of AI in the system will among other things, help to:
Ø Minimize KYC Roadblocks
Ø Detect Fraud and Flag Suspicious activities in real-time thus enhancing greater trust in digital payments and solutions
Ø Personalize and Tailor Financial products and services according to customers’ specific needs, amongst other key benefits and advantages.
While highlighting the benefits of AI in the ecosystem, Mrs. Uzoebo noted that stakeholders must work towards guaranteeing that our Artificial Intelligence systems respect individual privacy, maintain equitable standards for all, remain transparent in their operations, and elicit trust.
“The use of Artificial Intelligence in payment solutions and within the broader financial inclusion industry must comply with existing regulatory frameworks such as; Central Bank of Nigeria’s (CBN) Consumer Protection Framework; Nigeria Data Protection Act (NDPA) and National Information Technology Development Agency’s Data Protection Regulation (NDPR),” she cautioned.
SANEF, whose mission is to deepen financial inclusion through partnerships and collaborations, is an initiative of the Central Bank of Nigeria (CBN), supported by the Deposit Money Banks (DMBs), Nigeria Inter-Bank Settlement Systems (NIBSS) and Licensed Super-Agents, and was incorporated in 2019.
SANEF serves as an enabler in the Financial Inclusion ecosystem in Nigeria, collaborating with various Stakeholders to expand the frontiers of Financial Inclusion which includes Agent Expansion, Financial Literacy, Public Enlightenment, Policy Advocacy and Technological Solutions for Products and Services to increase Agent Business viability and Agent Network sustainability.
E-Financial
SEC Partners Chainalysis to Tackle Rising Crypto Scams

A surge in cryptocurrency fraud has prompted the Securities and Exchange Commission (SEC) to strengthen its monitoring measures.
The regulator has partnered with blockchain analytics firm Chainalysis to improve its ability to detect and disrupt illicit activity.
This move follows growing concerns about the security of Nigeria’s expanding digital asset market.
At a joint webinar themed “Combating Scams with Blockchain Intelligence,” Dr. Emomotimi Agama, director-general, SEC, stressed the need for coordinated action.
He said transparency in crypto transactions should be the foundation of enforcement in the sector.
Agama warned that without collaboration, fraudulent activity could grow more dangerous in the future.
The SEC plans to use blockchain’s permanent transaction records to trace and monitor illicit movements of funds. This will include identifying wallet clusters, tracking fund transfers, and analysing transaction histories on networks such as Bitcoin and Ethereum.
Agama said these measures would help the commission detect scams earlier and respond faster.
The Chainalysis 2025 Crypto Crime Report provided data that reinforced the urgency of the SEC’s initiative.
According to the report, illicit crypto addresses received $178 billion worldwide over the last five years.
The highest volume was recorded in 2022, with $54.3 billion, followed by $46.1 billion in 2023 and $40.9 billion in 2024.
Agama said these figures showed the scale of the problem and the need for advanced analytics in enforcement work.
He also noted that Nigeria must improve its technical capacity to match the sophistication of modern financial crimes.
The partnership with Chainalysis is expected to help bridge this capability gap.
The SEC is working under the framework provided by the Investment and Securities Act (ISA) 2025, which took effect in April.
Agama described the law as a key step toward establishing clear rules for the digital asset market.
It also enables cooperation between Nigerian regulators and international partners without discouraging innovation.
He called for active collaboration between regulators, technology providers, and industry players to address fraud before it escalates. “
With all the various tools at our disposal, we must brace up for the challenges ahead,” Agama said.
He added that the collective goal should be to stop criminal activity at its source.
The SEC’s collaboration with Chainalysis is positioned as a strategic move to safeguard investors and improve market integrity.
It reflects an effort to place Nigeria among regional leaders in regulated digital finance.
By integrating blockchain analytics into its operations, the commission aims to create a safer environment for crypto transactions in the country.
E-Financial
World Bank Approves $300m Loan to Support IDPs in Northern Nigeria

World Bank has said that it has given approval of $300 million to fund a new project aimed at bolstering access to services and economic opportunities for internally displaced persons (IDPs) and their host communities in northern Nigeria.
In a release, the World Bank said the Solutions for the Internally Displaced and Host Communities Project (SOLID) was approved on August 7.
It stated that the project will adopt an integrated development strategy to help displaced persons and host communities transition from humanitarian aid to self-reliance and resilience.
It also said the ongoing conflict and insecurity in the region have displaced more than 3.5 million people, straining infrastructure and deepening competition for scarce resources in affected communities.
The bank said SOLID will build on previous government and partner interventions, including the multi-sectoral crisis recovery project (MCRP), which focused on emergency recovery.
“Key areas of focus include building climate-resilient infrastructure, promoting social cohesion, supporting livelihoods, and strengthening institutions to better respond to the pressures of forced displacement.
“We are glad to support this initiative which has a tremendous potential to help Nigeria in addressing development challenges associated with protracted displacement in a sustainable way,” Mathew Verghis, World Bank country director for Nigeria, said.
“The Project’s integrated approach which is aligned with the National IDP Policy and the FGN’s long-term development vision will ensure that IDPs and host communities can transition from dependency on humanitarian assistance to self-reliance and resilience which will open up better economic opportunities,” it added.
The World Bank, which noted that the cproject is expected to benefit up to 7.4 million people, of whom up to 1.3 million individuals are identified as IDPs, added that the project will be implemented through a coordinated, community-driven approach involving all tiers of government, with strong partnerships from international stakeholders.
E-Financial
UBA Unveils Revamped Website, Heralds New of Digital Experience

United Bank for Africa (UBA), Plc, Africa’s Global Bank, has launched its revamped Group website to enhance users’ digital experience.
The newly revamped website boasts of a faster, smarter, and more dynamic digital platform, designed to deliver live news updates, real-time Nigerian stock prices, and a world-class user experience among other world-class features.
The upgrade marks a significant leap in the bank’s digital transformation journey, setting new standards for speed, accessibility, and innovation in the African banking industry.
Alero Ladipo, group head, Marketing and Corporate Communication, UBA, who spoke excitedly about the revamped website, explained that the redesign focuses on simplifying user-journey, improving responsiveness across all devices, and incorporating a language-agnostic interface that caters to the bank’s diverse global audience.
She explained that with its sleek, intuitive layout and enhanced navigation, the site empowers customers, investors, and stakeholders to access critical information instantly – whether it is the latest market movements, breaking financial news, or UBA’s wide range of products and services.
Ms Ladipo said, “We are thrilled to unveil our new website, which represents a significant milestone in our digital transformation journey. Our goal is to provide a world-class digital experience that meets the evolving needs of our customers and stakeholders.”
Continuing, she added, “A major highlight of the upgrade is its speed, powered by an upgraded server infrastructure with enhanced load balancing to ensure minimal downtime and lightning-fast performance. By combining speed, accessibility, and live market intelligence, our new platform strengthens our position as an industry leader.”
She pointed out that the site also integrates automated news updates powered by International agency, Bloomberg and real-time stock prices tracking, ensuring visitors remain informed at all times.
Throwing more light on the new features, Amanda Oguamanam, head, Digital and Online Marketing, UBA, said; “We have transformed our website to be faster, cleaner, and more engaging, removing clutter by over 60%, upgrading servers for speed and reliability, streamlining navigation, and tailoring content to inspire global partners while making it easier for customers to find what they need.”
Other standout features, she added, include improved accessibility for users with disabilities, dark/light mode toggle, advanced search functions, and a simplified content structure, which are all designed to deliver an inclusive, modern experience for a global audience.
The revamped website is live and accessible at www.ubagroup.com.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally.
Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
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