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Access Bank expands footprint, commences operations in Cameroon

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Nigerian banking group Access Bank just created a subsidiary in Cameroon. With an initial capital of about XAF14.5 billion, the new subsidiary’s headquarters will be in Douala, Cameroon’s economic capital.  

The administrative board of this subsidiary is constituted of seven members with only one Cameroonian, the legal notice published for the creation indicates. These members are Patience Melone, Iyabode Soji-Okusanya, Fatai Oladipo, Abraham Aziegbe, Ibukunoluwa Odegbaike, and Elliz Nzo Azu.

Created for a duration of 99 years, the bank has chosen Price Water House Coopers as its external auditor and will operate in the management of current accounts, savings collection, checks payment and credit granting.

As required by the rules in force, the launch of Access Bank Cameroon’s activities in Cameroon is still subject to the issuance, by the Ministry of Finance and the banking commission COBAC, of various legal notices and authorizations to the bank’s shareholders.

If it succeeds in launching its subsidiary in Cameroon, Access Bank Plc will become the 16th commercial bank to operate in the country and will meet one of its compatriots, United Bank of Africa (UBA), on that market. Its entering the Cameroonian market some years after the departure of another Nigerian group, Oceanic Bank International namely.

Some years ago, Oceanic Bank International took over 54.5% of Union Bank of Cameroon’s (UBC) assets saving it from bankruptcy. However, in 2011, Ecobank had to buy Oceanic Bank International’s assets in UBC, which is a well-rooted bank in the Anglophone regions of Cameroon.

In January 15, 2019, Access Bank Plc’s executive director, Victor Etokwu announced that apart from the Cameroonian subsidiary, the banking group would create subsidiaries in two other African countries this year. The banking group will then have 18 subsidiaries in Africa.

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Zenith Bank introduces automated voice banking service

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Zenith Bank introduces automated voice banking service

Zenith Bank Plc says it has introduced an automated voice banking service, an interactive voice response solution which enables customers to perform basic banking transactions by dialling a dedicated phone line through their registered phone numbers and following the prompts.

Speaking on the launch of the product, the Group Managing Director/ Chief Executive Officer, Mr Ebenezer Onyeagwu, said that the “Zenith automated voice banking service is designed to ensure a truly amazing experience that will offer convenience for our teeming customers.”

He added that the self-service product would offer quick response to customers in addition to security entrenched by the multilayer authentication mechanism.

He urged the bank’s customers to take advantage of the unique service particularly at this critical time when the physical interface with the bank had been adversely impacted due to social distancing, and the restriction of movement in some states due to the COVID-19 pandemic.

Zenith Bank stated that it had clearly distinguished itself in the Nigerian financial services industry through superior service quality, unique customer experience and sound financial indices.

“The bank remains a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and alternative channels that ensure convenience, speed and safety of transactions,” it stated.

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Polaris Bank salutes health workers on World Health Day

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…Affirms Support for the Fight Against COVID-19*

Polaris Bank has paid tribute to health workers in Nigeria and across the world even as the world commemorates the 2020 World Health Day.

This year’s event is coming on the heels of the breakout of the coronavirus pandemic that is currently ravaging the world with its attendant effect on the health and wellbeing of the citizens across the world.

The World Health Day which is celebrated on the 7th of April every year has as its theme for 2020, ‘Galvanizing Support for Nurses and Midwives’ as well, as recognizing the vital role these health workers play in fostering global health and wellness.

World Health Day is set aside to honor the contribution of nurses and midwives, recognizing their vital role in keeping the world healthy. Health workers are at the frontlines of the COVID-19 response, putting their health at risk to protect the global community.

Since nurses and midwives comprise more than two-thirds of the health workforce according to the World Health Organization (WHO), they are critical in responding to health needs for all settings and across the lifespan, and as such, the World Health Day presents an opportunity to highlight the importance of nurses and midwives around the world.

Speaking on the impact of the role of health workers to global health and wellness, the Managing Director/CEO of Polaris Bank, Mr. Tokunbo Abiru, noted that, “The efforts and contributions of nurses, midwives and other health workers who are out there working tirelessly to contain the spread of the coronavirus cannot be over-emphasized as they have significantly reduced mortality rate and saved many lives in the process.”

Mr. Abiru explained further that: “Since the world health day promotes healthy living through a healthy lifestyle and hygienic living, which are the most efficient ways to control the risk of several diseases including COVID-19, serious commitment on the part of the individual is required to flatten the curve of the pandemic”. He further noted that Polaris Bank is committed to the safety of staff and customers and has ensured strict adherence to government’s directives concerning social distancing and good hygiene in all our its business locations across the country.

The Chief Executive Officer advised that people should take a pledge and make all necessary changes in their lifestyles for a healthy life noting that special attention should be paid to all precautionary measures stipulated by governments and relevant agencies to promote global health and wellness thereby containing the spread of COVID-19.

It would be recalled that Polaris Bank recently joined hands with Nigeria’s private sector coalition which raised N15.3bn to fight COVID-19.

Polaris Bank is a future-determining Bank committed to the delivery of industry-defining products, and services, across all the sectors of the Nigerian economy.

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BoI donates N700m to COVID-19 relief fund

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BoI donates N700m to COVID-19 relief fund

Bank of Industry (BOI), one of Nigeria’s development finance institutions (DFIs), has joined other corporates and philanthropists in supporting federal and state governments’ fight against the COVID-19 pandemic in the country with the donation of N700 million in relief funding.

The bank announced that it had contributed N500 million to the Private Sector Coalition Against COVID-19 (CACOVID).

This donation will go towards a fund that has been created to provide more testing, isolation and treatment centers across all geo-political zones.

In addition, the bank is providing financial support of N100 million to the FCT Ministerial Committee on COVID-19. The bank is also supporting the Lagos State Government with a donation of N100 million.

Commenting on the gesture, the DFI’s Managing Director, Olukayode Pitan said: “At this pivotal moment in the history of our great nation, we stand in solidarity with the Federal Government and our colleagues across various industries.

“We are optimistic that if we all play our part, we will beat COVID-19, and we will see Nigeria recover and thrive”, the banker added.

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