This Account opening Agent Banking Services is subject to CBN’s regulatory review and the Super-Agent and CBN shall be granted full and timely access to the Account opening Agent’s internal systems, documents reports, records, staff and premises and shall exercise such powers as it may deem necessary.
The Account opening Agent shall make himself/herself/itself available to undergo training and accreditation as determined by the Super-Agent and communicated to the Super-Agent in writing in order to offer the Services to Customers.
The Account opening Agent shall fully and promptly comply with all reasonable requests for disclosure of information as may be required by the Super-Agent and CBN.
The Account opening Agent shall not set any minimum transaction value for the Services rendered and/or the Scope of Services, performed in his/her/it’s Organization except as authorized under the terms of this Agreement.
The Account opening Agent shall not be entitled to impose any terms and conditions on the Super-Agent or incur any liability on behalf of the Super-Agent other than those contained in this Agreement.
The Independent-Agent shall not be entitled to impose any terms and conditions on the Super Agent or incur any liability on behalf of the Super Agent other than those contained in this Agreement.
The Independent-Agent shall not be entitled to impose any terms and conditions o Diligently market, offer and transact the Agent Banking Services to both prospective and existing customers.n the Super Agent or incur any liability on behalf of the Super Agent other than those contained in this Agreement.
Not act, or omit to act, in any manner that may contravene or compromise the sales standards of the Super Agent, or tarnish the name of the Super-Agent.
Perform the Agent Banking Services with reasonable care, due diligence and skill and in accordance with the standards and procedures required of a reasonable and prudent business man/woman; however partial performance shall not constitute the provision of Services.
This Agent Banking Services is subject to CBN’s regulatory review and the Super Agent and CBN shall be granted full and timely access to the Independent-Agent’s internal systems, documents reports, records, staff and premises and shall exercise such powers as it may deem necessary.
The Independent-Agent shall make himself/herself/itself available to undergo training and accreditation as determined by the Super Agent and communicated to the Super Agent in writing in order to offer the Services to Customers.
The Independent-Agent shall perform the Services as an independent contractor and accept full responsibility for health, safety, and environmental matters in the rendering of the Services and agrees to comply with all applicable health, safety and environmental matters relating to the Services.
The Independent-Agent shall not set any minimum transaction value for the Services rendered and/or the Scope of Services, performed in his/her/it’s Organization except as authorized under the terms of this Agreement.
The Independent-Agent warrants and undertakes to the Super Agent that he/she/it has full knowledge of the relevant legislation(s) and further undertakes to comply with such legislation for the duration of this Agreement.
The Independent-Agent shall fully and promptly comply with all reasonable requests for disclosure of information as may be required by the Super Agent and CBN.
The Independent-Agent shall perform the Services as an independent contractor and accept full responsibility for health, safety, and environmental matters in the rendering of the Services and agrees to comply with all applicable health, safety and environmental matters relating to the Services.
The Independent-Agent shall make himself/herself/itself available to undergo training and accreditation as determined by the Super Agent and communicated to the Super Agent in writing in order to offer the Services to Customers.
The Independent-Agent shall not be entitled to impose any terms and conditions on the Super Agent or incur any liability on behalf of the Super Agent other than those contained in this Agreement.
The Independent-Agent shall not set any minimum transaction value for the Services rendered and/or the Scope of Services, performed in his/her/it’s Organization except as authorized under the terms of this Agreement.
The Independent-Agent warrants and undertakes to the Super Agent that he/she/it has full knowledge of the relevant legislation(s) and further undertakes to comply with such legislation for the duration of this Agreement.
The Independent-Agent shall fully and promptly comply with all reasonable requests for disclosure of information as may be required by the Super Agent and CBN.
The Independent-Agent shall not be entitled to impose any terms and conditions on the Super Agent or incur any liability on behalf of the Super Agent other than those contained in this Agreement.
Take out and maintain insurance policies including but not limited to a fidelity insurance that shall cover any wrongful, negligent or tortuous acts of his/her/its staff which may result in any loss to the Customer or the Agent in the discharge of his/her/its duties.
Keep and maintain financial records of all transactions processed for a period of at least 7(seven) years following the date of each transaction; within 7 (seven) business days of receipt of a written request, the Account opening Agent shall provide to the Super-Agent any copy of extract from such records as the Super-Agent may reasonably require.
Acknowledges that all information, documents and data that the Account opening Agent supplied in respect of the Agent Banking Services from any source whatsoever shall remain the property of the Agent and such information shall be kept confidential. The Independent-Agent shall at all times ensure safe-keeping of all relevant records, data, documents or files. Such records, data, documents and files shall be transferred to the Agent at the Super Agent’s request.
Keep accurate records of all transaction support documents including but not limited to sales, funds transfer, deposits, withdrawal, books of accounts and statements of all the operations and expenses in connection with this Agreement, in such form as stipulated by the Account opening Agent and deliver the transaction support documents to the Super-Agent.
The Independent-Agent shall fully and promptly comply with all reasonable requests for disclosure of information as may be required by the Super Agent and CBN.
The Independent-Agent warrants and undertakes to the Super Agent that he/she/it has full knowledge of the relevant legislation(s) and further undertakes to comply with such legislation for the duration of this Agreement.
The Ind ependent-Agent shall not set any minimum transaction value for the Services rendered and/or the Scope of Services, performed in his/her/it’s Organization except as authorized under the terms of this Agreement.
The Independent-Agent shall make himself/herself/itself available to undergo training and accreditation as determined by the Super Agent and communicated to the Super Agent in writing in order to offer the Services to Customers.
Render the Agent Banking Services at his/her/it’s registered business address/Service Location disclosed to and approved by the Super Agent. Any intended change of business location by the Independent-Agent must first be communicated and approved by the Super Agent. Violation of this provision amounts to a fundamental breach which entitles the Super Agent to terminate the Agreement.
Provide basic customer support services related to Agent Banking, including but not limited to account opening, balance enquiry, product enquiry, cash in/cash out transactions, bills payment and other basic user instructions or education.
Comply with the AML/CFT and KYC procedures, processes, documentation and rules as specified in the Guidelines and as advised by the Super Agent.
Keep accurate records of all transaction support documents including but not limited to sales, funds transfer, deposits, withdrawal, books of accounts and statements of all the operations and expenses in connection with this Agreement, in such form as stipulated by the Super Agent and deliver the transaction support documents to the Super Agent.
Grant access to the Super Agent to identify appropriate placing, specification and installation of the Super Agent’s marketing materials and display such marketing materials in accordance with the Super Agent’s marketing guidelines.
Provide the Super Agent with updates of any change in his/her/it’s information within seven (7) days of any change therein.
Acknowledges that all information, documents and data that the Independent-Agent supplied in respect of the Agent Banking Services from any source whatsoever shall remain the property of the Super Agent and such information shall be kept confidential. The Independent-Agent shall at all times ensure safe-keeping of all relevant records, data, documents or files. Such records, data, documents and files shall be transferred to the Super Agent at the Super Agent’s request.
Take all precautions and actions necessary as are reasonably by the Super Agent to prevent fraudulent transaction(s).
Within 24 hours of a complaint from a Customer, lodge or forward the complaint to the Super Agent.
Keep and maintain financial records of all transactions processed for a period of at least 7(seven) years following the date of each transaction; within 7 (seven) business days of receipt of a written request, the independent-Agent shall provide to the Super Agent any copy of extract from such records as the Super Agent may reasonably require.
Open an either a current or savings account for the purpose of providing Agent Banking Service with a minimum working capital of N350,000 (three hundred and fifty thousand naira only), half of which shall be made available to the Independent-Agent as physical cash while the other shall be in e-value Make a one off registration fee payment of N10, 000 (ten thousand naira only). Pay a fee of N5,000 (five thousand naira only) per annum as device rent.
Take out and maintain insurance policies including but not limited to a fidelity insurance that shall cover any wrongful, negligent or tortuous acts of his/her/its staff which may result in any loss to the Customer or the Super Agent in the discharge of his/her/its duties.
Tayo was General Manager and Head of Guaranty Trust Bank’s Operations Division with over 25 years’ experience in the Banking Industry. Prior to her joining Guaranty Trust Bank Plc in 1993, Tayo worked with Fountain Trust Merchant Bank.
In her over 25 years of service to Guaranty Trust Bank, 15 of those years was spent holding several key managerial positions such as Head of Asset and Liability Management team, Head of Domestic Operations unit, Chief Financial Officer & Head Financial Control and Risk Management Group, Head of Administration Group and Head of Business Process Re-Engineering Group.
She was later made Divisional Head in-charge of the bank’s core Operations functions excluding Branch Operations where she was responsible for both domestic and international Operations of the bank. Tayo is a graduate of Obafemi Awolowo University, Ile-Ife. She also holds an MBA from University of Lagos and is a chartered Accountant.
Tunji was Deputy General Manager and Head, Maritime Group of Guaranty Trust Bank Plc with over 15 years experience. He started his career with the Financial Control Group of Guaranty Trust Bank Plc, where he was responsible for management & regulatory reporting, tax management and audit at a very early stage of his career in this unit. He later moved to Energy Group of the bank to take higher responsibilities and nurture the downstream oil and gas business of the bank.
He joined Stanbic IBTC Bank in 2006 as the head of it downstream oil and gas business and later, Head of Transaction Product Services Group. Tunji was seconded to Standard Bank Group’s head office in South Africa for about 2 years in other to improve his understanding of the group’s business structure.
He returned to GTBank in 2012 to head the Maritime group of the bank with the mandate to harness the growing opportunities in the sector. He later resigned from his role as Deputy General Manager in 2014 to commence his own business. Tunji is a graduate of Computer Science and Economics from Obafemi Awolowo University, Ile Ife and also an alumnus of prestigious Manchester Business School.
