CIBN Launches Certification for POS, NIN/BVN Agents

The Chartered Institute of Bankers (CIBN) has taken a pivotal step in the realm of financial services by introducing a comprehensive agency banking certification program tailored for a range of professionals within the industry.

These programs cater to a diverse set of roles, including point of sale (POS) agents, National Identification Number (NIN) and Bank Verification Number (BVN) agents, agent network managers, customer service officers, and personnel engaged in agent banking activities within both traditional banks and innovative FinTech companies.

The launch of the Agent Banking Certification (ABC) program is a significant milestone aimed at addressing capacity-related challenges that have been encountered within the agency banking ecosystem.

Ken Opara, the President and Chairman of the Council of the Chartered Institute of Bankers of Nigeria (CIBN), has elucidated on the purpose and scope of this groundbreaking certification initiative. He highlights that the ABC program is intricately designed to provide individuals with a comprehensive understanding of agent banking, hands-on experience garnered from working closely with industry experts, and active involvement in established procedures for conducting agent banking services within Nigeria.

“Agent banking has been the key driver of financial inclusion, which creates financial access points and ultimately eradicates poverty. It is democratizing banking services, taking it to the grassroots and connecting to the nooks and crannies of the country,” Mr. Opara emphasized.

The ABC certification program, accessible at www.myabc.ng, holds the promise of endowing professionals in the industry with profound knowledge and practical skills. Moreover, it entails active engagement with seasoned experts in the field and participation in standardized procedures for conducting agent banking operations in Nigeria. This holistic approach to certification is anticipated to have far-reaching implications for the financial services landscape in Nigeria.

Fasasi Sarafadeen Atanda, a dedicated member of the CIBN sub-committee responsible for steering the Agent Banking Certification program, is resoundingly optimistic about the potential impact of this initiative. He foresees a transformation in the level of expertise and professionalism exhibited by POS agents, mobile money agents, and bank customer service personnel. This transformation, in turn, is expected to translate into improved customer experiences, enhanced responses when customers encounter issues with POS transactions, and a higher level of understanding from security agents when dealing with certified agents and agent-related transactions.

Atanda shared insights into the meticulous planning and implementation of the ABC program, emphasizing the need for professional standards in agent banking. He expressed concerns about the proliferation of unregistered agents within the industry, which has led to various complaints and issues, particularly in areas such as cash-in, cash-out services and account openings. To address these challenges, the CIBN has taken proactive steps to ensure that agent banking services maintain the highest standards of professionalism and ethics.

Explaining the rationale behind this certification, Atanda stated, “The account opening that we pushed for resulted in a not palatable experience because a greater percentage of accounts opened at the agent location were used for fraud. This made some banks stop opening accounts at agent locations.” This exemplifies how the lack of professionalism and rigorous training can result in vulnerabilities within the system. It is the belief of the CIBN that through certification, agents can be better trained in maintaining ethical standards, thereby significantly reducing unethical practices and errors within the agent banking process.

One of the key takeaways from this initiative is the imperative for high-volume transaction agents to be certified professionals. Atanda noted that certain agents handle transactions of significant value, such as processing N2.5 million for customers. However, many of these agents lack the requisite Know Your Customer (KYC) information for these customers, which can lead to issues and complications down the line. Therefore, the certification program’s inclusion of KYC training is a vital step in ensuring that high-value transactions are processed by individuals who have been rigorously trained and certified by the CIBN.

In summary, the introduction of the Agent Banking Certification program by the Chartered Institute of Bankers of Nigeria (CIBN) marks a pivotal moment in the evolution of the country’s financial services landscape. It is an initiative that addresses the pressing need for professionalism, standardized procedures, and ethical conduct within the agency banking sector. As professionals across various roles engage with this comprehensive certification program, the Nigerian financial industry can look forward to a future where agent banking services not only foster financial inclusion but also operate with the highest standards of competence and integrity. This, in turn, promises to enhance the customer experience and strengthen the overall resilience of the nation’s financial ecosystem.