CBN Grants Airtel Super Agent License

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CEM REPORT | Airtel Mobile Commerce Nigeria Ltd, a subsidiary of Airtel Africa Plc has been granted the license to operate fully as a super agent.

The license which allow the company to operate as an agency network, was disclosed in a press release titled “NIGERIA SUPER AGENT FULL LICENSE APPROVAL” signed by Simon O’Hara, the Company Secretary.

The statement filed with the NGX reads, “Further to our announcement of 15 November 2021, Airtel Africa, a leading provider of telecommunications and mobile money services, with a presence in 14 countries across Africa, today confirms that the Central Bank of Nigeria (‘CBN’) has awarded its subsidiary, Airtel Mobile Commerce Nigeria Ltd, with a full super agent licences.”

The super-agent licence implies, Airtel would be able to create an agent network that can service the customers of licensed Nigerian banks, payment service banks and licenced mobile money operators in Nigeria.

“The licence allows us to create an agency network that can service the customers of licenced Nigerian banks, payment service banks and licenced mobile money operators in Nigeria.”

Although, Airtel Mobile Commerce Nigeria Ltd, did not reveal in the statement when operations would kick off.

[READ ALSO] NFIS: CBN Grants MTN Final Approval.

Airtel Africa is the second telecommunication company to receive a major license from the Apex Bank this month.

The Airtel super agent licence is distinct from the Payment Service Bank (PSB) licence for which MTN received.

Super agents are businesses that have been licensed by the CBN to recruit agents for agency banking, which involves providing financial services to communities on behalf of banks in order to increase financial inclusion.

Airtel needs the PSB license to conduct financial services in Nigeria, such as accepting cash deposits, processing payments and remittances, issuing debit and prepaid cards, running electronic wallets, and other financial services.

Recall that CEM reported earlier this month that MTN Nigeria obtained Final Approval from the CBN to operate as Payment Service Bank.

Also Airtel recently open the largest commercial hub in Lagos earlier this month.

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