Connect with us

Business

Airtel gets CBN’s super-agent license

Published

on

Airtel Africa declares $1.5c interim dividend

Airtel Africa has secured the Central Bank of Nigeria (CBN)’s approval to operate as a super-agent in Nigeria.

The Group Company Secretary of Airtel Africa, Simon O’Hara, confirmed this in a statement filed with the Nigerian Exchange Limited (NGX) on Monday.

According to the statement, the company’s subsidiary, Airtel Mobile Commerce Nigeria, will operate the agent banking licence.

The statement read: ‘’Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today announces that its subsidiary Airtel Mobile Commerce Nigeria Limited has been granted approval in principle by the Central Bank of Nigeria to operate as a super-agent in Nigeria.

READ ALSO: Airtel, MTN get licenses to operate as Payment Service Banks

“The super-agent license is distinct from the Payment Service Bank (PSB) license for which it received approval in principle on November 4, 2021.”

The approval to operate as a super-agent will strengthen Airtel’s efforts to establish a presence in Nigeria’s financial industry.

It would be recalled that Airtel only a week ago got the CBN approval to operate PSB through Smartcash Payment Service Bank Limited.

The PSB license is required for Airtel to be able to provide financial services including acceptance of cash deposits and carrying out payments and remittances, issuing debit and prepaid cards, among other financial services.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Investigations