Indigenous Fin-Tech company, Itex Integrated Services Limited, has finally secured its licence to operate as a commercial super-agent and to drive the Central Bank of Nigeria’s (CBN’s) financial inclusion agenda.
The licence will enable the innovative fintech company to provide basic financial services such as account opening, BVN capture, funds transfer, cash withdrawals and bill payments to the unbanked, particularly in rural areas in Nigeria. The licence will also enable the company to recruit more agents to carry out financial services.
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Itex is one of the first organisations to successfully deploy and manage Point-of-Sale (POS) Terminals in Nigeria. Its customary POS application eases electronic payment and revenue collections of bills, tariffs, and airtime. We Commenting on the licence, Ernest Iduje, Managing Director and CEO, Itex Integrated Services Limited, said that the Company was elated to have gotten the full approval to be a Super-Agent. “We are indeed happy to have qualified for this licence. Our primary goal is to provide ease of financial services and transactions for our customers including those in the rural areas. This licence gives us an opportunity to provide these services on an even larger scale, thus providing financial empowerment to the unbanked and underbanked”.
“This is also a testament to the fact that we have systems, structures and security to render the best payment solutions for our clients, providing tailor-made services to them and providing solutions that will guarantee smooth and secure transactions,” Uduje added.
The Super-Agent licence is part of CBN’s efforts to deepen financial inclusion in the country and to reduce the financial exclusion rate to 20 percent by 2020.
The company which supports over 45,000 POS terminals with about 30,000 active in Nigeria and over 15,000 deployed across Africa, currently has 2200 agents in the field, who are already carrying out a volume of about N2 billion worth of transactions monthly.
Itex says it hopes to increase the number by virtue of the new commercial Super-Agent licence.
