The National Executive, Leaders and other members of AMMBAN converged on Abuja in furtherance to the series of engagement with critical stakeholders to seek for redress of the recent cashless policy released by the CBN.
You’ll recall that in the new policy by the CBN, individuals and corporate bodies can only have access to N100,000 and N500,000 weekly, respectively.
AMMBAN believes the cashless policy in its current state hasn’t provided for Mobile Money and Bank Agents in Nigeria adequately. Even as the CBN governor made reference to the fact that Mobile Money and Bank Agents are spread across the country, is one of the reasons why he strongly feels the country is ready for the cashless policy, the document puts the jobs of over 1.4million agents on the line in its present state.
This and many other germane reasons informed the decisions of the Association to engage the CBN, the National Assembly and other relevant stakeholders. This is to ensure that while we show support for the cashless policy of the government through the CBN, the policy should recognize the categorization of Agents’ accounts as it does individuals and corporate entities.
Some of the Senators and House of Rep members that were interacted with in the course of the recent meetings at the National Assembly include:
Senator Uba Sani. Chairman, Committee on Banking, Insurance and other Financial Institutions, Senator Orji Uzor Kalu, Vice Chair to Uba Sani, Senator Matthew A. Urhoghide. Chairman, Committee for Public accounts, Hon. Victor Nwokolo, Chairman House Committee on Banking and Currency, Hon. Tolulope Akande-sadipe. Chairperson, House committee on Diaspora, Hon. Hafiz Ibrahim Kawu. Vice Chairperson, House committee on Banking and Currency.
They were all in agreement that owing to the high relevance Mobile Money and Bank Agents have in the successful implementation of the Cashless policy, there has to be Categorization of the accounts to be able to serve the Nigeria people especially in areas where there are no banks or basic infrastructure to enhance the usage of alternative channels of transaction.
It is worthy of note that AMMBAN and her members have always been at the forefront since the inception of the Financial Inclusion drive in ensuring the achievements of the set goals. It is strongly believed that no success story can be pointed to without the selfless efforts of agents who, against all odds, go to the creeks and hinterland in the drive to deepen financial inclusion goals as set by the CBN.