AMMAN Newly-formed mobile money agents association aims to register 10m accounts

The President of the Association, Mr. Olojo Victor stated that the Association of Mobile Money Agents in Nigeria (AMMAN) has been established to help facilitate, organize and speed-up agents effort towards the financial inclusion policy of the Federal Government of Nigeria.

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Association of Mobile Money Agents in Nigeria

(AMMAN)
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The Mobile Money industry is set for a paradigm shift  as mobile money agents have come together to form an umbrella body organization registered with the Corporate Affairs Commission as Association of Mobile Money Agents in Nigeria (AMMAN).

According to statistics released by the CBN, there are over 80,000 mobile money agents spread across the country, it is believed that if agents work with collective and consented effort, remarkable progress can be achieved in the Mobile Money industry in Nigeria.

The President of the Association, Mr. Olojo Victor stated that the Association of Mobile Money Agents in Nigeria (AMMAN) has been established to help facilitate, organize and speed-up agents effort towards the financial inclusion policy of the Federal Government of Nigeria.

READ: Mobile money company celebrates over 20 years of growth in Nigeria, honors key agents at event

AMMAN is an engineered approach to widen and deepen financial inclusion and to take cashless transactions and e-payments to the grassroots in order to enable mobile phone users make payments, do transfers, buy airtime, pay utility bills such as DSTV, GOTV, PHCN, pay expressway tolls and conduct any such financial transaction without cash exchange, but through their mobile phones/wallet.

He further stated that AMMAN represents the common interest of its members by interacting, collaborating and synergizing with players in the industry on matters related to financial inclusions, strategy, security, fraud and agency network. "Our focus as an association cover four (4) broad areas, namely; Mobile Money, Agent Banking, Fraud & Security, Advocacy & Awareness," he said.

According to Olojo, the vision of the association is to be the focal point and No.1 driver of financial inclusion in Nigeria by providing excellent service and delivering value to Nigeria’s financially vulnerable and excluded population. He stated that they have an ambitious goal to signup 10million new mobile money subscribers within the next two years.

This is achievable when each agent signs up 5 news mobile money account every month within the next 24months. He further stated that they are also working to see a considerable percentage (70%) of mobile subscribers in Nigeria carry-out one form of financial transaction or the other via their mobile wallet by year 2020.

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