200,000 Npower Beneficiaries To Be Engaged As Financial Service Operator

With the N-EXIT plan package, at least 200,000 exited Npower beneficiaries will be engaged as financial services operators under a Shared Agent Network Expansion Facility (SANEF) scheme controlled by the Central Bank of Nigeria.

Over 30,000 Npower volunteers have already been engaged as geospatial experts and enumerators in the Economic Sustainability Plan’s Mass Agric programs such as the Federal Ministry of Agriculture and Rural Development/Agriculture for Food and Job Plan (FMARD AFJP) and the Project for Agricultural Co-ordination and Executive (PACE), while other Npower volunteers are given the alternative of benefiting from the GEEP micro-enterprise loans.

In line with the N-Power exit strategy master plan, at least 200,000 exited Npower volunteers will be enrolled on a program known as the Shared Agent Network Expansion Facility (SANEF) while at least 30,000 Npower volunteers will be deployed for the Mass Agric program. The Mass Agric program is a component of the Economic Sustainability Plan (ESP), and other NPower volunteers will be allowed to develop their entrepreneurial skills and start new businesses under a micro-enterprise scheme.

See Also: Npower: Mobile Money Agents Training Commences

The Shared Agent Network Expansion Facility (SANEF) program is a Federal Government initiative operated by the Central Bank of Nigeria, Commercial Deposit Money Banks, Nigeria Inter-Bank Settlement Systems NIBSS, Chattered Institute of Bankers of Nigeria, Licensed Mobile Money Operators, and Shared Agents with the primary aim and goal of accelerating financial inclusion and financial growth and development in Nigeria.

According to the master plan of the NEXIT program, the project will among other things create a platform for Nigerian-owned financial services companies to grow whilst empowering and creating job opportunities for Nigerian youths.

SANEF in partnership with NSIP National Social Investment Programme will onboard 200,000 Npower graduates as SANEF agents under the approved SANEF licensed Super Agents while accomplishing Npower’s target to enhance and improve the livelihood of a critical mass of young unemployed Nigerians.