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FirstBank CEO, Adeduntan bags ‘best chief executive officer’ award

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The Chief Executive Officer, First Bank of Nigeria Limited (FirstBank), Dr. Adesola Adeduntan has been adjudged the ‘Best Chief Executive Officer’ of the year at the Digital Innovation and Excellence awards, held recently in Accra, Ghana.

The awards, which climaxed the Digital Banking Summit was aimed at rewarding individuals and groups whose contribution and efforts have spurred growth in the banking industry across Africa.

Dr. Adeduntan who has been at the helm of affairs of FirstBank, FBNBank Ghana’s parent Bank since 2016 had ensured the rollout of the Group’s digital banking strategy, which aims to leverage new and evolving technologies to facilitate access to everyday financial services for consumers and businesses alike.

Receiving the award on behalf of Dr. Adeduntan in Accra on Friday, Victor Yaw Asante, the Managing Director of FBNBank Ghana said the award amply speaks to Dr. Adeduntan’s commitment to driving the financial inclusion agenda of FirstBank as well as its subsidiaries across Africa.

“On behalf of Dr. Adeduntan and his management team at First Bank of Nigeria Limited, I will like to thank you for recognising the Bank’s unrelenting quest to meet the needs and preferences of our customers with our deployment of a full bouquet of digital banking services.

Victor Yaw Asante stated that “though humbling, this award reminds us to keep listening and to demonstrate an understanding of our customers’ busy, modern lives and connect with them through the provision of solutions that not only meet their needs but also delivers relevant experiences that meet their expectations.

“We would deepen our collaboration with our partners and strive to replicate our success in Nigeria across all our subsidiaries,” he said.

This award adds to the rich ‘awards shelf’ of FirstBank since the turn of the year, as the Bank has been recognised beyond the shores of Nigeria for its leading role at promoting technological inclusion, cashless transactions and financial inclusion in the fast revolving and technological driven financial industry in Nigeria.

Amongst the many awards bagged by the premier and leading financial institution in Nigeria include; Cashless Driver: Highest Volume in Bill Payments and Cashless Driver: Highest Transaction Volume in Real-Time Payments at the CBN Electronic Payments Incentive Scheme (EPIS) Efficiency Awards. Other awards are; Most improved Mobile Banking Application, Highest Transacting Bank (across Interswitch’s Solutions) and Highest Number of Verve Transacting Cards (Unique Cards) at the Interswitch Connect Sales Dinner & Awards Night as well as Best Banking Brand in Nigeria 2019 by Global Brands Magazine. 

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BUSINESS

Awoof Berekete: Access Bank launches campaign to promote electronic services

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Leading Nigerian retail bank, Access Bank Plc, has launched a campaign to promote its Access Mobile Wallet service.

Tagged Awoof Berekete, it is a savings reward scheme, which runs from August to November 2019.

During the period of the campaign, customers who use their Access Mobile Wallet to make transactions will be rewarded handsomely.

Customers can get 20% cash back up to N1,000.00 when they purchase airtime via Access Money Wallet as well as receive 10 times their initial deposit (up to N10,000) when they fund their Access Money Wallet and save for 7 days.

Head, Business Development and Planning at Access Bank, Chinedu Onuoha, said: “We are the largest bank in terms of customer base. Cumulatively, we have about 30 to 31million customers. By 2022, we intend that this should be a minimum of 65million customers and to achieve this, we came up with Awoof Berekete, which is another way to reward our customers.”

“Awoof berekete intends to encourage those whose accounts have been dormant or inactive due to various reasons – insufficient documentation, BVN etc. Customers will get 20% cash back up to N1,000.00 when they purchase airtime on their Access Money Wallet as well as receive 10 times their initial deposit (up to N10,000) when they fund their Access Money Wallet and save for 7 days.

Further, he stated that: “What we are essentially doing incentivizing them (customers) to be more productive.

Sometimes you pay N200 as transport fare to go and pay somebody N2,000. What we are saying is that you can stay in the comfort of your home and do that transfer; also that market woman on her way home can drop the vegetables for you. Those kinds of things can happen and help people promote efficiency and also make them live better lives.”

The Access Mobile Wallet is an electronic wallet service which allows users to save, transfer, and receive money. It provides access to a wide range of financial services offered by Access Bank and access to all the Bank’s branches and agents nationwide.

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BUSINESS

FirstBank supports educational institutions with FirstEdu

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FirstBank MD, Adeduntan

The premier and leading financial services provider, First Bank of Nigeria Limited, has announced its educational solution – FirstEdu – specifically designed to enhance the educational facilities in schools. The FirstEdu product includes FirstEdu loan and FirstEdu portal.

FirstEdu loan is targeted at private Nursery & Primary and Secondary schools to assist the schools in achieving their desired growth in the medium and long-term. The product provides funding to replace old furniture and equipment, pay staff salaries, purchase brand new or fairly-used buses as well as refurbish dilapidated buildings and classroom blocks. With this product, school owners/proprietors can stay ahead of competition at all times.

The product enables the schools to access facility with no tangible collateral, apart from domiciliation of school fees account with the Bank.

In addition, FirstEdu portal is a modular and robust web-based enterprise portal that enables Tertiary educational institutions manage academic, administrative, professional, logistics and payment challenges. The basis for its robustness is to take the stress of logistics, administrative and payment challenges off the institutions, as they focus on meeting their year-long, medium and long-term objectives.

The product features and benefits include; e-Learning, virtual library and facilitation of exchange programmes with foreign educational institutions; academic & student events/time-table/calendar management; school fees payment via the internet; online information and result checking; interactive community forum between students and teachers. It also affords applicants the opportunity of enrolling from the comfort of their homes or any location around the world; no licensing, installation and maintenance cost and plugs avenues for revenue leakages amongst others.

According to Chuma Ezirim, Group Executive, e-Business & Retail Products, First Bank of Nigeria Limited, “with FirstEdu, private schools across the various tiers of education in Nigeria; elementary, secondary and tertiary, have the right tool to boost their business to the level they desire. With over N5 billion loans already disbursed to schools this year alone, we are committed to supporting growth in this key sector of our economy.”’

For further information on FirstEdu, visit the FirstBank branch nearest to you or contact us on our social media channels.

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CBN okays AIP to 3 payment service banks

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In line with its objective of enhancing financial inclusion and the development of the payment system by increasing access to deposit products and payments services through a secured technology-driven environment, the Central Bank of Nigeria (CBN) has issued Approvals-in-Principle (AIP) to three Payment Service Banks (PSBs).

The three institutions issued approvals in principle to operate as Payment Service Banks are Hope PSB, Money Master PSB and 9PSB.

This was disclosed in Abuja by the Director, Corporate Communications Department of the CBN, Isaac Okorafor, who explained that the approval in principle was part of the processes the institutions had to fulfil in order to be granted license to operate as fully-fledged Payment Service banks.

According to Okorafor, the decision of the CBN to issue the AIP to the applicants followed the institutions’ satisfaction of documentation and other laid down conditions.

Sequel to the issuance of the AIP to the three banks, he said they are expected to submit their respective applications for the grant of a final licence, not later than six months after the AIP.

Speaking further, he disclosed that the CBN code of corporate governance for banks would also be applicable to the PSBs.

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