SANEF

SANEF Agency Banking App extends Financial Services (Account Opening, Cash Deposit,
Cash Withdrawal, Funds Transfer, Card Distribution etc) to all geopolitical zones across
the country through agent locations. Customers can therefore open accounts with any
bank of their choice and carry out their transactions with all accredited SANEF Agents.
This App also enables seamless resolution of disputes. This ensures customers and
agents do not have to visit bank branches whenever they have issues with their Agent
Banking transactions.
Prior to SANEF, Account Opening and Dispute Resolution were not available at most
agent locations to achieve the desired Financial Inclusion for several reasons including:
i. Lack of capacity of most Super Agents to integrate with DMBs for Account
Opening and similar financial products;
ii. Super Agents who are able to integrate lack the resources to integrate with all
the Banks; and
iii. Individual integrations were cumbersome and reportedly took long periods to
complete.
SANEF therefore developed a Technology Platform (App) to connect all Banks and
Super Agents for deployment of Account Opening and basic Financial Inclusion products
to consumers through agent locations.
The aim of the Platform (App) is to accelerate Financial Inclusion across all geopolitical
zones in Nigeria by:
i. accelerating the number of Accounts Opened through all agent locations.
ii. growing the type and number of transactions at the agent locations.
iii. enabling seamless resolution of disputes in the Agent Banking Industry.

About SANEF
SANEF is incorporated as a company in January 2019 with the objective of accelerating
Financial Inclusion in Nigeria. It is powered by the Central Bank of Nigeria (CBN),
supported by the Deposit Money Banks (DMBs), Nigeria Inter-Bank Settlement Systems
(NIBSS) and Licensed Mobile Money Operators/Shared Agents to widen financial access
points and services for the purpose of increasing Financial Inclusion to 80% by 2020.