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Media Room

Financial Services Agents Survey 2020

2:35 pm - 03rd August 2020

Agent banking is an important driver of financial inclusion and very useful in providing access to financial services, especially in underserved/unserved areas. The National Financial Inclusion Strategy identified agent banking as an important channel for achieving the financial inclusion target.

The EFInA Financial Services Agents Survey in Nigeria is a biennial study with the primary objective to identify opportunities to drive the deployment of sustainable & pervasive agent networks and increase the uptake/usage of agent services. Data from the survey is used by a diverse range of stakeholders, including regulators, policymakers, financial services providers etc. to understand first-hand ways to drive the deployment of widespread agent networks and increase the usage/uptake of agent services in Nigeria.

The survey aims to:

  • Understand and highlight the operational determinants of a sustainable financial services agent network, including diversity of products offered; types, frequency, volume and value of transactions; type of provider; liquidity management in terms of ease, cost and source of float; compliance with consumer protection measures
  • Identify factors driving the uptake of or hampering agent services in Nigeria, including customer product preference, preferred access channels, agent branding, interconnectivity and technology issues, fraud and engagement with law enforcement, cost, and agent churn
  • Identify agents’ motivation including personal interests, commissions, satisfaction with principal etc.
  • Understand the prevailing agent pricing model, including what agents are charging, price determination mechanism, compliance with price regulation, the effect of incentive on price etc.
  • Capture agent perceptions on how to increase the uptake and usage of agent services, including agent expectations from the providers, regulators, and the government; addressing complaint resolution, fraud, and law enforcement; capacity and awareness gaps etc.

Financial Services Agents Survey 2020 Report

Impact of COVID-19 on Financial Service Agents

Lapsed Financial Services Agent Survey Report_Jan2020

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