
Interswitch Obtains CBN Approval in Principle, Kick starts Aggressive Agency Banking Network
The Central Bank of Nigeria (CBN) has granted an Approval-in-Principle to Interswitch Financial Inclusion Services (IFIS), a subsidiary of Interswitch Group that has a mandate to grow an active Agent Network of 150,000 by 2020. Trading as Quickteller Paypoint, IFIS aims to increase the availability of digital financial services in financially-excluded locations in Nigeria from 44% to over 70% in five years.