ITEX Receives CBN Licence to Operate as Super Agent

Itex Integrated Services Ltd, an innovative Fin-Tech Company that deploys secure solutions to diverse customers, has been granted the licence to operate as a commercial Super Agent in the nation’s financial services by the Central Bank of Nigeria (CBN).

The licence will enable Itex to provide basic financial services such as account opening, BVN capture, funds transfer, cash withdrawals, bill payments to the unbanked particularly in rural areas. The licence will also enable the Company to recruit more agents to carry out financial services.

Commenting on the licence, Managing Director and CEO, Itex Integrated Services Ltd, Mr. Ernest Uduje stated that the Company is elated to have gotten the full approval to be a Super Agent. He said “We are indeed happy to have qualified for this licence. Our primary goal is to provide ease of financial services and transactions for our customers including those in the rural areas. This licence gives us an opportunity to provide these services on an even larger scale, thus providing financial empowerment to the unbanked and underbanked”.

‘This is also a  testament to the fact that we have systems, structures and security to render the best payment solutions for our clients, providing tailor made services to them and providing solutions that will guarantee smooth and secure transactions” Mr. Uduje added.

The Super Agent licence is part of CBN’s efforts to deepen financial inclusion in the country and reducing the financial exclusion rate to 20 per cent by 2020.

Itex is one of the first organizations to successfully deploy and manage Point of Sale (POS) Terminals in Nigeria. Its customary POS applications eases the electronic payment and revenue collection of bills, tariffs, and airtime. The Company currently has 2200 agents in the field and are already carrying out a volume of about 2Bn worth of transactions monthly and hopes to increase the number by virtue of the new commercial Super Agent licence.

Itex Integrated Services Limited is an innovative fintech company that designs and deploys secure solutions to diverse Pan-African customers. Itex is one of the first organizations to successfully deploy and manage Point-of-Sale (POS) Terminals in Nigeria. Our custom payment applications ease electronic payments, revenue collection, utility bill and value added service payments such as airtime, electricity, cable TV, tariffs, toll payments, etc. We make the payment experience enjoyable for our clients by offering them the ability to monitor and control their transaction real time.