The objective of central bank of Nigeria to have 70 per cent of its adult population in the formal financial services sector by 2020 through its financial inclusion initiative is suffering hitches as agency banking operators are faced with dispute resolution issues, Nigeria CommunicationsWeek has learned. “The issues around PoS chargeback are beyond debit of customers as there is no complaint mechanism in place for financial inclusion services. He explained that there are two parties involved in resolving PoS issues, the issuing bank, and the acquiring bank. More so, there is a knowledge gap in the management of agents by bank officers who do not understand the business of the informal sector. Over the years, we have noticed that some bank staff lack basic knowledge of digital financial service, “he said.

Source: The Guardian January 10, 2020 05:15 UTC