The Association of Mobile Money and Bank Agents in Nigeria has marked its 10th anniversary alongside its ninth Annual National Conference in Gombe, with many stakeholders commending the critical role agents have played in expanding financial inclusion across the country. The conference, held with support from Moniepoint, focused on the theme “A Decade of Impact: Advancing Agent Banking for Inclusive and Secure Financial Services,” and brought together regulators, financial institutions, operators and technology partners to review the progress of the last decade and the challenges ahead.
Speaking at the event, the acting National President of AMMBAN, Dr. Obioha Oti, said the growth of agent banking has become one of Nigeria’s most important achievements in the financial sector, especially at the grassroots. He explained that in the early years, financial services were largely restricted to major towns and cities, leaving millions of rural residents with limited access. Many people travelled long distances just to withdraw cash, transfer money or carry out basic transactions. According to him, the introduction of agency banking in 2013 changed that reality by bringing financial services closer to people in communities, markets and small towns.
Oti described the development of agent banking as a “lifeline” that has helped bridge the financial gap between urban and rural areas. He said the collaboration between AMMBAN, the Central Bank of Nigeria, the Nigeria Inter-Bank Settlement System, SANEF, EFINA, and security agencies has strengthened the sector over the years. Through this partnership, he added, the association has been able to support the professionalisation of agents, promote compliance, and tackle issues such as fraud, insecurity and rising regulatory demands.
While expressing support for the recent directives issued by the Central Bank on agent registration, compliance and risk management, Oti appealed for flexible implementation to ensure smooth adoption. He noted that regulators and operators share the same goal of a safe and inclusive financial system, but he stressed that policies must also be practical and sustainable for agents who operate in different environments across the country.
Delivering the keynote address, the Senior Vice President in charge of Distribution Network Sales at Moniepoint Microfinance Bank, Mr. Ezekiel Sanni, said digital financial services now play a central role in the daily lives of millions of Nigerians. He explained that two out of every three adults in Nigeria have used reliable payment platforms supported by Moniepoint’s infrastructure. He praised AMMBAN for championing the interests of more than 1.5 million agents nationwide, who collectively serve more than 60 million Nigerians every day.
Sanni however pointed out that the progress recorded in the last decade did not come without challenges. He mentioned policy changes, fraud cases, network disruptions, poor USSD services and unexpected charges that sometimes affect customer confidence. He said these issues need consistent attention and urged stakeholders to strengthen consumer protection, improve digital infrastructure, and expand financial literacy, especially in underserved communities.
He also identified key areas that require urgent improvement. These include deepening financial inclusion in northern Nigeria, reducing the financial access gap between men and women, and empowering agents to expand the range of services they offer. According to him, agents should be encouraged to provide credit, insurance, savings and pensions, in addition to payments. He said data from Moniepoint has shown that women remain an important group in financial services and deserve more focus. He urged the sector to move from collaboration to stronger commitment as it enters the next decade.
The Chairman of AMMBAN’s Board of Trustees, Mr. Victor Olojo, described the association’s 10-year journey as a story of resilience and innovation. He said AMMBAN has grown into a respected organisation within the financial sector, with its impact felt in communities across the country, from Adamawa to Lagos and down to riverine settlements in the South-South. Olojo encouraged members to look ahead with renewed energy and dedication, adding that the future belongs to those who are ready to innovate and lead with integrity.
He said the anniversary was not only a moment to celebrate achievements but also a reminder of the responsibility ahead. According to him, the milestone should inspire the association to continue building, expanding and ensuring that every Nigerian has access to financial services regardless of where they live or their economic status.
