The Association of Mobile Money and Bank Agents(AMMBAN) has emphasized its commitment to support the nation’s progress through collaborative efforts and alignment with the initiative of President Bola Tinubu particularly within the financial and payment industry.
AMMBAN says it recognizes its role in nation building and endeavours to contribute positively.
The newly elected National President of Association of Mobile Money and Bank Agents of Nigeria (Ammban) Sharafadeen Fasasi made this statement at the Presentation of Certificates and Handover notes ceremony held at the Lagos State AMMBAN Secretariat, Egbeda.
Victor Olojo the founding President and outgoing President of AMMBAN in his Handover speech said he was sure that the Current President Sharafadeen Fasasi and his newly elected cabinet were capable of handling the affairs of the Association.
Victor Olojo who had held the office of President for eight years thanked God for the grace of a successful tenure and appealed to the new Executive to be dedicated and render selfless service, pointing out that AMMBAN was founded on sacrifice – giving everything and expecting nothing in return.
Giving his inaugural speech Sharafadeen Fasasi, said the new dispensation was ready to hit the ground running as he went on to highlight the set goals for 2024.
Among the key objectives pointed out by Fasasi was the recent issue of cash scarcity and the CBN memo. The AMMBAN President while acknowledging the issue said the Association has expressed its interest to work with CBN towards a prompt resolution.
Another objective which was at the front burner for AMMBAN to address was the recent introduction of the KYC, BVN, NIN by the Central Bank of Nigeria (CBN) for first, second and third tier account holders which the Apex bank said was of essence to enhance financial stability. Sharafadeen Fasasi said this objective had already received the ratification of Ammban emphasizing the fact that the NIN, BVN and KYC documentation requested by the regulatory authorities is embedded in the SIM card documentation used for phones and Point of sales terminals by the agents hence this objective gets the automatic endorsement of the association for immediate implementation.
Other issues discussed was the Payment Services Agents and Deposit Challenges of which AMMBAN is advocating inclusive policies by the Apex bank
Mr. Fasasi appealed to the regulatory authorities to collaborate with AMMBAN to ensure fair and effective policies without hampering the operations of agents and businesses.
The AMMBAN President made some recommendations which it hopes will be embraced by the Apex bank.
Among the recommendations made are the inclusion of Agent category in the withdrawal limit policy, Resolution of frozen accounts issue, Streamlining withdrawal authorization and capacity building and avoidance of PND on accounts.
Recall that sometime in November Ammban conducted elections for a change of National Executives.