Sanwo-Olu Bags AMMBAN Award For Financial Inclusiveness

Lagos State Governor, Mr. Babajide Sanwo-Olu has received an award from the Association of Mobile Money & Bank Agents in Nigeria (AMMBAN) in recognition of his unflinching commitment to financial inclusiveness and the creation of an enabling environment for Fintechs to thrive in the state.

The state’s Commissioner for Finance, Dr. Rabiu Olowo who received the award on his behalf at the 6th AMMBAN national conference with the theme: “Agency Banking in the Digital Age: Enforcing Standard, Seizing Opportunities and Managing Risks”, held in Lagos stated that the state government has continued to design support structures to ensure the protection, sustainability and growth of mobile and banking agents in the state.

The Commissioner stated that in ensuring financial inclusiveness and to effectively compete in the global economic space, the Lagos State government recently launched the upgraded Lagos State Resident Identity Card (LAD ID Card).

“In a bid to protect Lagos residents from fraudulent activities faced by Point of Sales (POS) operators in the course of doing business, the Lagos State government, through the Lagos State Residents Registration Agency (LASSRA), has expressed its readiness to work with the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) through the registration of all POS Machines.

“The new LAG ID Card is intended to serve as a multi-application smart card that offers registered residents a means of personal security and identity verification and points of accessing various government services and to applying for loans from the Lagos State Employment Trust Fund”, he added.

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Olowo  who was represented by the Director of Insurance, Ministry of Finance, Dr. Olugbenga Oluwole, emphasised that the LAD ID Card project is pivotal to the Lagos Smart City initiative, for the purpose of planning and distribution of infrastructure, security, social protection, financial inclusion, disaster and emergency response management.