‘PoS Innovation Summit Will Drive Agent Network’

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By Nosa Alekhuogie

Organisers of Point of Sales (PoS) Summit has said the fourth quarter edition of PoS Summit, is designed to further boost the establishment of Shared Agent Network Expansion Facility (SANEF), powered by the Central Bank of Nigeria (CBN) and commercial banks, with the aim of accelerating financial inclusion in Nigeria.

The event with the theme: ‘Pricing and Shared Agent Network Viability,’ is to examine the dynamics of the SANEF program and its capability to accelerate the achievement of financial inclusion goals by 20:2020.

Global Accelerex Limited, the leading Payment Terminal Service provider and Payment Solution Service provider, who is the organiser, announced that the event would hold December 12 in Lagos.

The Executive Director, Business Development and COO of Global Accelerex, Kayode Ariyo, said: “To achieve the lofty ideals and objectives of SANEF, there must be concerted effort towards promoting agent banking through the shared agent network approach.

“This requires the attention of relevant industry stakeholders who will convene, deliberate and educate participants at the summit.”

The SANEF project seeks to deepen financial inclusion through an integrated ecosystem with strong regulatory oversight, consumer protection and interoperable payment system with limited concentration risk.

The initiative involves on-boarding 40 million low income and unserved Nigerians into the financial system, increasing financial access points from the current 50,000 to 500,000 by 2020 and deepening access to mobile and digital financial products and services such as savings accounts, micro loans, insurance and pensions.

Keynote speakers at the event include the Director, Payments System Management, Central Bank of Nigeria, Mr. Sam Okojere, a new department at the CBN and the Head, Agent Banking, Kenya Commercial Bank, Mr. Edwin Otieno.