₦airaland Forum

first off, sorry for taking too long to update this thread.

have been terribly busy with work/biz.

having apologized lets get down to todays biz

This article nailed everything one needs to know about Agency Banking in Nigeria,
please take time to read every sentence of it, it even helped me to know more about what i can do as an agent.

WHAT IS AGENCY BANKING?,
WHO CAN BE AN AGENT?,
REQUIREMENTS FOR AGENCY BANKING,
RULES AND GUIDELINES FOR AGENCY BANKING.


With the successful introduction and implementation of the cashless policy, which culminated in Mobile Money Operation (MMO) in the country, the Central Bank of Nigeria (CBN) is now targeting the unbanked segments of the society with the introduction of agent banking.
Agent banking is the delivery of financial services outside conventional bank branches, often using non-bank retail agents and relying on technology, such as card readers, point-of–sale (POS) terminal or mobile phones for real time transaction processing ( in simple terms, it is a convenient and easy way to withdraw, transfer or even deposit money with the use of your ATM on card readers, point-of–sale (POS) terminal or banking and other financial institutions app on mobile phones.)

A banking agent is a retail or postal outlet contracted by a licensed deposit taking financial institution or a mobile money operator to provide a range of financial services to customers.
According to CBN, which released the guidelines, the novel banking system is aimed at enhancing financial inclusion, as banking agents are expected to act as delivery channels and to offer banking services in a cost effective manner.
Under the guidelines, any financial institution that intends to engage in agent banking will have to apply for approval, stating the extent of agent banking activities and responsibilities of the relevant parties.

The apex bank said in its guidelines that the bank applying to engage in agent banking should attach to their application, a copy of their board approval, outlining the strategy of the financial institution, including current and potential engagement, the geographical spread and the benefit expected to be derived from agent banking venture.
The applicant, it said must show proof of competence in the operation of agent banking, integrity and the extent of its outreach. Also, the banks are expected to provide the service level agreement, agent banking contract, the risk management, internal control mechanism, operational procedures and the proposal for Know –Your- Customer (KYC) and anti money laundering and combating Financial Terrorism (KYC\CFT) compliance.

Under the agent banking arrangement, a financial institution may engage a super-agent, that is, the agent networks that will establish a collection of outlets or franchise within its wide network of outlets to be under its supervision and control. The bank can also engage sole agent, meaning the agent who does not delegate power to other agents, but assumes the agent banking relationship by itself. It can also engage a sub-agent, which is the network of agents to be under the direct control of super agents as may be provided in the agent banking contract.
The Central Bank said any approved bank agent are only allowed to perform limited banking operation on behalf of their principal, including account opening, fund transfer; deposit and withdrawals; bills payment; payment of salaries; balance enquiry; generation and issuance of mini statement; cash disbursement and cash repayment of loans; cash payment of retirement benefits; Cheque book request and collection; collection of bank mails for customer and other activities to be determined and approved by the CBN.

To qualify as an agent for specific banking operations, on behalf of deposit financial institution or mobile money operator, it must be an entity that have been in a legitimate commercial activities for at least one year before the date of the application and that the business must be a going concern.

For effective management of the agent banking business, the CBN said the financial institution must develop and implement an agent banking strategy, besides establishing an effective oversight over agent banking services, manage their oversight by reviewing and approving key aspects of their security control programme, processes, policies and infrastructure
In order to monitor the approved banking agents, the CBN said under no circumstance should an agent relocate or close down it premises without informing the financial institution it is representing.

To put them under close surveillance, in order to minimize the risk involved in the system, the CBN made it mandatory for the financial institutions to monitor and supervise the activities of the agents, equip itself with the information relating to the number and volume of their transactions, monitor their effective compliance with set limits and established prudential measures in each case; implement measure to control operating risk; periodic physical visit by staff or authorized persons to ensure they operate within the requirement of the law, guidelines and contract, pay special attention to their operational risk, legal risk, liquidity risk, reputation risk and ensure their compliance with the rules for combating money laundering and financial terrorism.

credit to 'THE GUARDIAN' Jun 20, 2015

So the idiot will finally go?

Hiss, make naija government learn from this man after all failed efforts.

Hello everyone,
Are you looking for a way to make passive income while still maintain your job?
Are you a student looking part part time business ?
Are you an unemployed graduate looking for legitimate means to make ends meet ?

Who ever you are and just want some extra cash, you can jump into this new trend in town called Agency Banking.
It is part of the new financial inclusion introduced or supported by the CBN.

So what is this Agency Banking (POS) business all about ?
Follow the thread as I update it to learn more.

Nonsense !

Don't even know how some people take pass for school.
Someone will take time to explain another will come and confuse everybody again
12% is fixed
The duration can be 3,6, 12 months
For 3months it is 12%x 1m x 1
For 6months it's 12% x1m x 2 (2 because it's 2 quarters I.e 3 and 3=6)
For 12months it's 12% x1m x 4 (4 quarters makes 12 months)
If you no understand this one then u need to go back to nursery school

emynem05:
I run same business too.
I use diamond bank, trust me if you don't have an insider u will wait for POS till they kingdom come.
Holla me let me link you up.
The charges for all banks POS is same
0.72% of any transaction.
08037829202

I have explained everything here
Hit me up if your are serious. I will give you the info and contact free. @Fchristo AND any other interested persons

I run same business too.
I use diamond bank, trust me if you don't have an insider u will wait for POS till they kingdom come.
Holla me let me link you up.
The charges for all banks POS is same
0.72% of any transaction.
08037829202

Just as ur name is!

Simdi communications ltd.
I'm state and environs
Engr. Emeka 08037829202

Just started my viewing center yesterday with 1.8m for sports 24 and 2.4m for Sony six that shows la liga and champions league. Not paying for any subscription.

I am open for consultation and installation for people around eastern 9ja
Engr. Emeka
08037829202

Emeka 08037829202 owerri-imo state.

please, any one whoknows about this should help me with ideas/infos.
still waiting.

gratitude.

any other contribution/info is welcomed plz.

WebclickNG:
contact www.assdin.org

thanks please any other help/info will be appreciated.

Greetings to you all, please i need information about setting up a terrestial tv network like ctl, metro digital, in Nigeria.
infos like:
certification needed (or permit) frm NCC
Names of equipment needed for the setup e.g transmitter, modulators etc
and generally what the financial implication will look like.
please no insults just candid advise, opinion, suggestions or informaton.

W9740570R9942A0910-8NB2E62T

plz any station on daarsat position showing the match?

alancruise: Mine is 53% and also stable on a 1.3m dish

na wah oh i wasable to get aljazeera @58% (green) and irib tp was 60% and did not turn green, when i blind scaned, i couldnt get irib, dish is 1.3m location is owerri, imo state, plz wat more can i do to hit green? do u fink its fault of the lnb? i am tired of all dis qsat and dongle wahala, i need irib badly. heeeelllllpppp.....

@olenyi good job
Since u said its posible to pick cu signals, I am in the eastern. Part of naija, will it be posible dia too?
Also is it posible to construct a holder for 90cm and wat. Is the spec let mme try and construct it.
Which. Chanels can I receive with it?

abegi
i dey go buy TECHNO A+ or GIONEE DREAM D1
all na android!

@justiyke4u
Plz wats d settings on pc, I have tried it wasn't working for mme. Need ur assist plz

I have their first Hd decoder b4 they went off air, but I don't fink it has a card, do they have a card now so I can buy and subscribe

For student
U can advertice for home lessons during ur easter or christmas hols just for parttime pay. I ended up payn close to 15k for my nephew for just two weeks home leason. Wen u charge minimum of 20k per month x3 individuals that's some 60k to take back to school as extra cash.

@firmcy
I tried mailing but to no avail. In campus female stuffs sells well if u can have enof courage for it. Ranging from clothes to bra pants wig/weavon. They always like to look good and impress the boys. U can buy first grade OK clothes from Aba and sell I knw the market verry well u can get things really cheap their and sell in campuses.

I am about setting up a soccer viewing center, if u have enough students or soccer fanatics around u then u can also do that.

@all
First discover ur passion, follow it with guidance from research and u will see ur passion through acquired or nortured skills/talent with dedication and hardword bring u the income u once wished for.

Rextab:
i have the fake software.i will fowrd it to u.


@ rextab plz help me with the software.
emynem05@yahoo.co.uk

davis-joe:
glo bis stuff don die since and you still dey on the dark side while others are enjoying the Airtel 20G free browsing. see link below

http://www.naijamotions.com/t101-how-to-get-more-than-20g-free-on-airtel-legally#161

Plz can u help me send the document. I tried to register so that I can download it but to no success.emynem05@yahoo.co.uk

Pls if any1 has a list of small scale biz he knws, should endevour to post it so we all can research on it in our various locations. Will be grateful!

One of the best thread so far.
Am a graduate of agric eng.
Acquired skills in computer repairs and satellite installation,networkin.
Currently a post graduate student of environmental health and safety FUTO.
I love innovations, self confidence and belive.
I fink doze are part of the qualities u need to succed in life.
I am about to setup a modern soccer viweing center in my location,(ihiahgwa,futo host community)
And will advice any1 that has a university, poly or schools of higher learning in his/her location to do same. With the current trend of football it generate money to do other biz.
But the problem wif ideas is finance to start it up. So start finkin of how to generate ur finance, write proposals and give to friends of like minds, if they can or will suport with what they hav. Don't tell dem to give u moni for all, they will run away.
I wish u luck and will post any biz I knw dat can generate income to all who care.
Like minds let's talk. pin:28361566