Shared Agent Network Expansion Facility(SANEF)

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The Central Bank of Nigeria in collaboration with the Body of Bank Chief Executives established the Shared Agent Network Expansion Facility (SANEF) in 2018. The Facility provides financing to CBN-licensed Super Agents and Mobile Money Operators, to expand their networks to deepen financial inclusion in Nigeria. The Facility will enhance the capacity of the operators to roll-out more financial access points across the 774 local government areas in Nigeria particularly in the financially excluded locations. Access to financial services has remained a major challenge to development in Nigeria.

Objectives of the Facility

1. Enhance the capacity of mobile money operators (MMOs) and super agents to establish financial services access points in under-served and unserved locations
2. Increase agent's penetration among the unbanked and excluded population
3. Provide platform for achieving the financial inclusion targets iv. Create jobs and promote inclusive economic growth

Managing Agent

The Fund is managed by the CBN while Deposit Money Banks are the participating financial institution (PFI) for SANEF.

How to apply?

To apply for SANEF, eligible MMOs and super agents should visit PFIs.

1. Who can be a SANEF Agent?
• Individuals
• Small to Medium businesses
• Corporate Entitie
2. How do I become a SANEF Agent?

Complete the SANEF Agent form through

3. How do I become a SANEF Super Agent?

Complete the SANEF Agent form through https://www.sanefng.com/sanef_superagent_form

4. What transaction can be carried out at a SANEF Agent location?

The following services are available at any SANEF Agent Location:

• Account Opening
• BVN Enrolment
• Cash-In (Deposit)
• Cash-Out (Withdrawals)
• Airtime recharge (all networks)
• Bills payment
• Funds transfer (sending money to anyone nationwide)
5. What are the benefits of becoming a SANEF Agent?
• Generation of Income from commission obtained from transactions
• Increased sales from additional foot-traffic
• Social relevance to the community where the Agent operates
6. What information is required for Agent banking license?

Information required by the CBN for agent banking license shall include:

• Name of the applicant
• Postal Address/email
• Business Address
• Telephone number
• Company Registration Number/certificate
• Feasibility Study for the agent relationship
7. How long are licensed institutions expected to renew all agent agreements?

Renewal of engagement Licensed institutions are advised to renew all agent agreements biennially except otherwise required.