Organisations work together to increase financial inclusion

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Smartcash Payment Service Bank has collaborated with Stanbic IBTC Bank to boost access to financial services in the country.

The subsidiary of Airtel Nigeria announced that its partnership with Stanbic IBTC Bank would focus on cash deposits and withdrawals for its customers.

In a statement, Head of Partnership, Smartcash Payment Service Bank, Judith Osiobe, said, “Since inception, we have seen Smartcash achieve a great feat in helping to promote financial inclusion and education through collaborations with various groups.

“We are, therefore, excited to collaborate with Stanbic IBTC Bank to expand access to financial services for more Nigerians. This partnership aligns with our commitment to catering to the diverse needs of our customers.”

The Head of Partnerships, Stanbic IBTC Bank, Omolara Osunsoko, added, “This partnership reaffirms the bank’s commitment to simplifying the customer experience for Airtel Smartcash customers by providing easy and accessible cash-in and cash-out services across our branches. This initiative allows Airtel Smartcash wallet customers to deposit and withdraw cash from any Stanbic IBTC Bank branch without hassles.”

Recently, a non-governmental organisation, Enhancing Financial Inclusion and Access, disclosed that the percentage of financially included Nigerians rose to 74 percent in 2023.

Commenting on this, the Central Bank Governor, Olayemi Cardoso, who spoke through the CBN Director, Other Financial Institution Supervision, Chibuike Nwaegerue, said, “Over the past couple of years, financial inclusion stakeholders have made tremendous efforts in expanding financial service access through the rapid deployment of agents and the development of a mix of products suitable for the financially excluded demographics.”