Baxi agents in Nigeria have been asked to transfer their funds to their preferred principal bank within 30 days as Onafriq winds down its agent banking business. The instruction was reported on Friday, 16 October 2026, and leaves agents with practical questions about their deadline, account balances and outstanding transactions.
Onafriq said its teams would support the transition. For an individual agent, the immediate task is to obtain written instructions covering their own account before treating the change as complete.
What should Baxi agents do during the transition?
Confirm the deadline that applies to your account, obtain verified instructions for moving funds and reconcile outstanding transactions. Onafriq has announced a 30-day transfer period, but the published announcement does not establish a calendar deadline for every agent or identify the receiving principal bank.
In an email reported by PUNCH, Onafriq said the decision concerns its Nigerian agent banking operation. It said agents onboarded through Baxi had been transitioned to another principal bank and had been asked to move their funds to their preferred principal bank within 30 days.
That wording deserves attention. A transition to another bank does not, by itself, tell an agent that every balance, pending reversal or commercial arrangement has been settled. Ask support to explain what has already changed and what still requires action on your account.
Techpoint Africa’s report also records the transfer instruction and the company’s commitment to provide assistance. Neither report names the receiving principal bank or provides an account-specific transfer procedure.
Confirm your deadline and destination
The published 30-day instruction should prompt action, but agents should obtain the start date and final date that apply to their notice. Do not calculate a universal closing date from a newspaper’s publication date.
Before moving funds, ask your established Baxi support contact to confirm:
TRANSPORT AND LOGISTICS
Baxi transition: What Nigerian agents should check now
Oct 19, 2026
Oct 19, 2026
4 min read
Published
Updated:
Baxi agents in Nigeria have been asked to transfer their funds to their preferred principal bank within 30 days as Onafriq winds down its agent banking business. The instruction was reported on Friday, 16 October 2026, and leaves agents with practical questions about their deadline, account balances and outstanding transactions.
Onafriq said its teams would support the transition. For an individual agent, the immediate task is to obtain written instructions covering their own account before treating the change as complete.
What should Baxi agents do during the transition?
Confirm the deadline that applies to your account, obtain verified instructions for moving funds and reconcile outstanding transactions. Onafriq has announced a 30-day transfer period, but the published announcement does not establish a calendar deadline for every agent or identify the receiving principal bank.
In an email reported by PUNCH, Onafriq said the decision concerns its Nigerian agent banking operation. It said agents onboarded through Baxi had been transitioned to another principal bank and had been asked to move their funds to their preferred principal bank within 30 days.
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That wording deserves attention. A transition to another bank does not, by itself, tell an agent that every balance, pending reversal or commercial arrangement has been settled. Ask support to explain what has already changed and what still requires action on your account.
Techpoint Africa’s report also records the transfer instruction and the company’s commitment to provide assistance. Neither report names the receiving principal bank or provides an account-specific transfer procedure.
Confirm your deadline and destination
The published 30-day instruction should prompt action, but agents should obtain the start date and final date that apply to their notice. Do not calculate a universal closing date from a newspaper’s publication date.
Before moving funds, ask your established Baxi support contact to confirm:
Which principal bank now handles your agent relationship.
Whether your existing account details remain valid.
The approved route for transferring your available balance.
The applicable deadline and any transaction limits or charges.
Whether any further onboarding or identification steps are required.
These are practical checks, rather than a published Baxi transfer procedure. Keep the reply with your account records. A destination supplied through a forwarded message should be checked through an established support channel before you act.
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Reconcile balances and unfinished transactions
Record your available balance and download or request your transaction history before making the move. List any pending transfers, failed withdrawals, reversals, commissions or disputed deductions separately, so that an available balance is not mistaken for a complete settlement.
For each unresolved item, retain the transaction reference, date, amount and complaint number. Ask who will handle it after the transition and how you will receive updates. If terminal ownership, deposits or return arrangements affect your business, request written clarification of those terms too.
The Central Bank of Nigeria’s bank customer guidance says banks should explain contractual terms and charges and provide a mechanism for complaints. That general guidance is useful when discussing a receiving bank’s services; it does not establish the terms of Baxi’s individual agent contracts.
Where to raise an unresolved complaint
Start with the institution responsible for the disputed transaction and keep evidence that you have complained. State the amount, relevant dates, transaction references and the resolution you are seeking.
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The CBN’s complaints management guide describes escalation for complaints against institutions under its regulatory oversight after the institution’s complaint process has been used. It asks complainants to include supporting documents and evidence of their earlier complaint, while excluding PINs and passwords.
An agent’s commercial contract dispute may require a different route from a customer’s bank transaction complaint. Ask the institution which process applies rather than assuming the same escalation channel covers every transition issue.
Which services are continuing?
Onafriq says the closure does not represent its departure from Nigeria. Premium Times reports that it will continue serving the country through its payments network and card-issuing services.
For agents, that continuing corporate presence does not replace account-specific guidance. The useful confirmation is a written record showing where funds should move, which transactions remain open and who is responsible for resolving them.
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