The Central Bank of Nigeria (CBN) has granted an approval-in-principle [AIP] to Inlaks, the leading system integrator and foremost financial technology solutions provider in Nigeria and Sub-Saharan Africa, to operate as a super-agent in order to enhance financial inclusion strategy in Nigeria.
According to a release signed by the company’s MD/CEO, Femi Adeoti, Inlaks would work with the CBN and its partners to reach the underserved population and the financially excluded.
Adeoti commended the CBN for granting the license to the firm, adding that “the license will deliver numerous gains to the Nigerian economy by enhancing financial access, financial inclusion, sustainability and growth of the small and medium scale enterprises.
“The aim is to ensure that informal workers in Nigeria have access to affordable financial services through CBN’s agent network that will address social challenges in key areas such as health insurance, credit accessibility, savings, wage payment among others”, he said.
Inlaks would leverage on the Nigerian Inter-Bank Settlement System (NIBSS)’ switching infrastructure to support inter-scheme Cash-in-Cash-out (CICO) at all its agent locations as approved under the CBN regulatory framework.
Inlaks‘ super-agency platform will be enabled to communicate with all its agents.