The objective is to encourage commercial banks to reach out and provide basic banking services to the underserved communities and individuals and entrepreneurs in the rural and maritime areas, with little or no access to regular banking services, through localised agents such as retail merchants or postal agencies.
This will allow those who are living far from the main urban centres where bank branches are generally located, to be able to deposit or withdraw money from their bank accounts and also receive money from their families or friends based both locally and abroad, or make payments at these retail agents.