By Brenda Chidinma Imo-Eze
The Association of Mobile Money and Bank Agents of Nigeria (AMBAN) has empowered over 300 Ebonyians with Point-of-Sale (POS) machines as part of efforts to expand financial inclusion and create additional income opportunities for agency banking operators.
The initiative was part of a symposium and empowerment programme organised by AMBAN in Ebonyi State, which also featured sessions on financial security, the Small Claims Court, export certification and other opportunities available to POS operators.
Speaking at the event, the Ebonyi State Chairman of AMBAN, Comrade Solomon Okorie, said the programme was designed to educate operators on how to maximise their businesses beyond the conventional cash-in and cash-out services.
“We call it a symposium because we want to educate the people of Ebonyi on what they can make use of their POS and kiosk to achieve in their lives, aside from the normal daily cash-in, cash-out,” Okorie said.
He said beneficiaries also received POS machines, while selected participants were provided with NIN registration devices and free SIM cards.
Okorie added that AMBAN, through its partnership with the state government and other organisations, would facilitate free Corporate Affairs Commission (CAC) registration and export certification for interested participants.
He described the initiative as a continuous programme, promising that more opportunities would be made available to Ebonyians.
“This is a continuous programme. The Ebonyi State Government has opened its doors of opportunities for us, and we want to assure them that as long as opportunities are coming, we will be giving it out to the people,” he said.
Okorie also disclosed that plans were underway for a soft-loan scheme to support small businesses in the state.
He said his motivation was driven by a desire to assist people who might not otherwise have access to such opportunities.
“I don’t want people to suffer. Any other opportunity I have, Ebonyians will benefit from it. Henceforth, we don’t want to remain the poorest in the South-East,” he said.
The branch controller of Central Bank of Nigeria (CBN), Dr. E. I Agama represented by Mrs Alishe Nnamdi, reaffirmed the apex bank’s commitment to strengthening Nigeria’s payment system through appropriate regulation.
Agama said the CBN was focused on ensuring that the country’s payment ecosystem remained safe, innovative and accessible.
“The CBN remains committed to foster a safe, sufficient, innovative and inclusive payment landscape through appropriate regulations,” she stated.
The Director-General of the Ebonyi State Small and Medium Enterprises Development Agency (EBSMEDA), Dr. Ben Odoh, who represented Governor Rt. Hon. Francis Ogbonna Nwifuru, said agency banking had become an important part of financial services delivery, particularly in rural communities.
Odoh said the widespread presence of POS terminals had helped reduce the difficulty of accessing financial services, but stressed the need for operators to prioritise effectiveness and security.
“Today, the issue of agency banking is no longer new. I’m sure the least remotest village now has POS. The question is, how effective is this operation? How secured is this operation?” he asked.
He said issues including scams, police-related challenges and the possibility of criminals exploiting agency banking platforms required greater attention from operators, fintech companies and government agencies.
Odoh urged POS operators to ensure their platforms were not used to facilitate criminal activities, while assuring them of the state government’s willingness to support legitimate businesses.
“The presence of POS around our rural areas is actually relieving a lot of pressure. It is something we need to support, something we need to encourage,” he said.
He further disclosed that the state government was preparing to roll out a loan scheme for small and medium-scale enterprises, with documentation with the Bank of Industry already ongoing.
“By God’s grace, in a matter of weeks, we will be rolling out our loan scheme that is meant to help SMEs. Our documentation with Bank of Industry is ongoing,” he said.
Odoh also announced that free CAC registration and export certification would be offered to interested residents, with the initiative expected to commence on Monday.
The National President of AMBAN, Dr. Obiora Oti, described POS operators as critical stakeholders in Nigeria’s economic development and urged them to explore other services capable of increasing their earnings.
Oti, who disclosed that he previously worked as a bank branch manager before resigning to venture into the POS business, said operators should not limit themselves to cash-in and cash-out transactions.
“If you are operating as a mere cash-in, cash-out POS agent, you are part of the problem,” he said.
He explained that agency banking offered several opportunities that could make operators important income drivers within their communities.
Oti also urged POS operators to take pride in their profession rather than seeing it as an inferior business.
The symposium featured practical sessions aimed at equipping participants with knowledge that could help them protect and expand their businesses.
A Higher Registrar with the Ebonyi State Judiciary, Mr. Chukwu Daniel, educated participants on the Small Claims Court and how it could provide a legal avenue for resolving eligible disputes.
The representative of the Nigerian Export Promotion Council, Onwe Amanda, also spoke on export certification, highlighting its importance to business owners interested in venturing into export activities.
The sessions broadened the focus of the programme from agency banking to other areas through which participants could develop their businesses.
A panel discussion featuring representatives of OPay and Moniepoint, alongside the Enugu State Chairman of AMBAN, also formed part of the programme.
OPay representative Jeremiah Theophilus, Moniepoint representative Erekogu Gabriel and the AMBAN Enugu chairman discussed the services and benefits available to POS operators through their respective platforms.
Participants also used the interactive session to raise questions on issues affecting their businesses, including transaction security, operational challenges and opportunities within the agency banking sector.
A participant, Kezie, said he learnt about the programme through the platform of the Special Assistant to the Governor on Media.
He expressed appreciation to the state government, AMBAN and the organisers, saying the programme had provided participants with valuable opportunities.
“I saw this online on the platform of the SA on Media. It is really wonderful. I received the certificate and the POS,” he said.
Highlights of the programme included the distribution of POS machines, presentation of certificates to NIN trainees, legal education on the Small Claims Court, the export certification session, questions from participants and the panel discussion involving major players in the agency banking sector.