How to Become BVN Agent

Bank agents are individuals who provide financial services within communities or a specific location on behalf of licensed financial institutions.Become BVN Agent

Every financial institution in Nigeria (FCMB, UBA, First Bank, Access Bank, Wema Bank, etc.) has its own banking agents across the country. These agents reach out to potential customers and provide them with the financial assistance they would not have been able to obtain without going to the bank.How to include NYSC Certificate in your CV

This assistance includes opening a bank account, issuing of bank debit card, making financial complaints, and BVN registration. Bank agents enabled for BVN registration are sometimes called BVN agents. They are tasked with the enrolment of the Bank Verification Number over a specific district or community. Are you ready to become a Bank or BVN agent? Great! Then in today’s post, I’ll be showing you in simplified steps, how to become a Bank agent.Information Guide Nigeria

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What do I need to become a Bank Agent?

To become a banking agent, you must first possess the following minimum requirements:

• Applicants must be able to read and write
• Applicants must have a functioning android enabled mobile phone or computer
• Applicants must have an existing business outlet or provide evidence of membership in a trade associationHow to include NYSC Certificate in your CV
• Applicants must possess a valid means of identification (Driver’s license, National ID card, International passport, or Voters card)
• Applicants would be required to present a passport-sized photograph, utility bill, tenancy agreement, property title, etc.
• Applicants will be required to present their Financial account detail or statement
• Applicants will be required in some cases to pay a start-up capital

Read Also: How to Validate BVN on Npower

Types of Banking Agents in Nigeria

There are three main types/categories of agents in the Nigerian Agency Banking, namely; Super Agent, Sole Agent, and Sub Agent.

1. Super Agent

A super-agent is an agent with the authority to recruit other agents (sub-agents) and manage them in a network. Super agents are independently licensed by the Central Bank of Nigeria. The super-agent will provide his/her sub-agents with the necessary equipment to carry out their role, and supervises their activities. As a super agent, you are to ensure that your sub-agents carry out banking functions in line with the regulatory guidelines. Some popular agents in Nigeria include; Opay, PayCenter, Interswitch, MoMo, etc.

To become a licensed Super-Agent, you’ll need to possess a minimum capital of N50 million and a minimum of 50 sub-agents in your network. You will also be required to obtain a better reference from a financial institution, among other documents.Npower recruitment

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2. Sole Agents

Sole Agents are agents who have a direct relationship with a chosen financial institution or Bank. A sole agent does not have the power to recruit sub-agents, and must adhere to essential banking guidelines such as “Anti-Money Laundering Laws” and “Know Your Customer KYC rules”. Every bank has its own designated amount of money needed to become a Sole agent.WAEC result

To become a Sole agent, visit any bank of your choice, and pick up the Sole agent application form. The Bank will now process your application in line with the general CBN guidelines. The bank will send its list of proposed agents to the Central Bank for approval.JAMB form

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3. Sub Agents

Sub-agents are banking agents who work under a super-agent in an agency network. The most common sub-agents are people you see everywhere in their kiosks, or under an umbrella with their POS. They are popularly known as POS operators. Subagents are recruited by super agents under an agent network management arrangement. To become a sub-agent, all you need is an initial investment for your float, a POS, and a mobile phone.JAMB Result

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