LAPO MFB Launches Agent Banking System

In a bid to improve financial inclusion in Nigeria, LAPO MfB is set to pilot the first phase of the Agent Banking service. The service would take off in the first week of October across ten states in Nigeria.

 
The objective of the Agent Banking platform is to deliver financial services outside conventional bank branches through carefully selected and certified LAPO MfB Agents. The Bank would rely on technology to heighten client recruitment, savings mobilization, cash withdrawal and other payment services. 
The financial services to be provided by the authorized Agents include Account Opening, Deposit, Withdrawal, Transfers, Balance Enquiry and Mini Statement transactions.