E-Financial
Wema to Host Second Edition of ALAT Talk Series this Thursday
ALAT by Wema Bank, Nigeria’s first fully digital bank, will host the second session of its ALAT Talk Series on Thursday, August 26, 2021, via Zoom.
L-R: Tomiwa Aladekomo, CEO, Big Cabal Media; Adaora Mbelu, Founder, Lumination Global Network; Femi Akinfolarin, Head, Corporate Strategy, Wema Bank and Funmilayo Falola, Head, Marketing Communications and Investor Relations, Wema Bank to speak at the second edition of the ALAT Talk Series this Thursday, August 26, 2021 at 4:00pm.
The Talk Series is a virtual session that provides young Nigerians with a platform for the exchange of ideas and insights on technology, startups and finance, offering young Nigerian professionals a guide on how to develop and build successful ventures.
The second session, which is themed ‘Developing and Sustaining the Startups of the Future’, will provide young Nigerians with the skills and information that will enable them to build and manage businesses and startups of the future.
Tomiwa Aladekomo, ceo of Big Cabal Media; Femi Akinfolarin, Head, Corporate Strategy, Wema Bank and Adaora Mbelu, Founder, Lumination Global Network have been confirmed as speakers for this session.
Aladekomo will speak on the ‘biggest challenges facing the African technology ecosystem’, while Mbelu will discuss ‘brand positioning as a growth strategy in startup-land’. Akinfolarin will share nuggets from his over 10-year experience within the industry while sharing insights on ‘how tech can help small businesses improve customer experience.’
Business branding, strategy, and management are some of the areas that will be discussed. The online audience will have the opportunity to send in questions before the event using #ALATTalkSeries on social media or via the live chat option during the session.
Funmilayo Falola, head, Marketing, Corporate Communications and Investor Relations, Wema Bank, who will serve as the host of the session commented about the bank’s decision to extend the talk series.
“We are fully committed to enabling young Nigerians in their pursuit of financial independence and business skills. The success of the first session compelled us to expand the scope of the series to accommodate even broader participation.
“We are supporting start-up founders, aspiring entrepreneurs and intrapreneurs with capacity building initiatives, programmes and other activities that will bolster their business acumen, a
nd provide tools for sustainability,” she mentioned in a statement.
Tomiwa Aladekomo holds a master’s degree in Cultural Anthropology from Columbia University, New York.
He served as Senior Digital Manager at Nigerian Breweries Plc between 2013 – 2016. Subsequently, he was appointed as the Managing Director, Ventra Media Group, a digital media agency.
In 2018, he was appointed as the CEO of Big Cabal Media, a Nigerian digital media company creating engaging content for the African youth audience such as Zikoko and Tech Cabal.
Adaora Mbelu who received a BSc in economics and entrepreneurship from Northern Kentucky University is the founder of Lumination Global Network.
She has worked in various leadership capacities as a brand developer. In 2017, she was mentioned in Entrepreneur Magazine’s “11 Africans that are changing the business landscape in Africa.”
She was awarded “Most Inspiring Woman” at the Her Network Woman of the Year Awards two years ago.
Femi Akinfolarin holds a master’s degree in International Trade and Investment Law from the University of Amsterdam, the Netherlands and an MBA from the Hult International Business School UAE (Dubai/Boston Campus).
He has over a decade cognate experience in the financial services sector and has held various managerial positions in different companies within and outside the sector. He currently heads the corporate strategy function in Wema Bank.
ALAT by Wema has continually shown support for young Nigerians across the country through various youth-friendly initiatives, including a partnership with SociaLiga and other initiatives tailored towards the youths.
The company has also won numerous awards, such as the Best Digital Bank and Best Mobile App in Nigeria at the 2017 World Finance Awards, Best Digital Bank in Africa at the 2018 Asian Banker Awards, amongst many others.
E-Financial
First Securities Brokers Empowers Nigerians to Trade in the Stock Market with the Launch of FirstInvest App
First Securities Brokers, one of Nigeria’s leading stockbroking firms and a subsidiary of FirstHoldCo Plc, is pleased to announce the official launch of the FirstInvest App, an innovative mobile investment platform designed to make stock market investing simpler, faster, and more accessible for Nigerians.
The FirstInvest App offers investors a seamless digital experience, enabling them to open and manage their investment accounts, monitor their portfolios, and trade equities listed on the Nigerian Exchange (NGX) directly from their mobile devices.
Designed with both new and experienced investors in mind, the platform combines convenience, security, and ease of use to help users make informed investment decisions anytime and anywhere.
As Nigeria continues to embrace digital financial services, the FirstInvest App reinforces First Securities Brokers’ commitment to driving financial inclusion and expanding access to wealth creation opportunities through technology.
Speaking on the launch, Fiona Ahmed Ahimie, Managing Director of First Securities Brokers, said: “The launch of the FirstInvest App represents another significant milestone in our digital transformation journey and our commitment to delivering innovative investment solutions to our clients.
“We understand that today’s investors value convenience, speed, and accessibility. FirstInvest has been developed to provide exactly that: a secure and intuitive platform that empowers individuals to participate confidently in the capital market from wherever they are.”
She added: “Our goal is to remove the traditional barriers associated with investing by placing the power of timely investment and decision making in the stock market directly in the hands of Nigerians. Whether you are taking your first investment step, actively managing your portfolio or just evaluating your investment, FirstInvest provides the tools and flexibility needed to support your financial aspirations.”
The app delivers a range of features designed to enhance your investing experience, including: Secure digital account opening and onboarding, Real-time access to investment portfolios, Buy and sell Nigerian equities with ease, User-friendly trading interface, Secure transaction processing, Convenient access to market information and investment opportunities.
The launch of FirstInvest aligns with First Securities Brokers’ broader strategy of leveraging technology to improve customer experience while supporting the growth of retail participation in Nigeria’s capital market.
First Securities Brokers remains committed to providing trusted investment advisory services, innovative financial solutions, and exceptional customer service, helping clients build and preserve wealth across generations. The FirstInvest App is now available for download on the Google Play Store and the Apple App Store.
The next currency crisis could accelerate the shift of the roughly $315 billion global stablecoin market into a digital-dollar alternative for citizens in emerging economies, notably in regions like sub-Saharan Africa and Latin America.
As local fiat currencies face devaluation and high inflation, citizens and businesses are increasingly utilizing smartphone-based stablecoins (such as USDT and USDC) as hedges and primary mediums of exchange.
According to the International Monetary Fund (IMF), the rapid adoption of dollar-linked digital assets—particularly in countries heavily affected by inflation like Nigeria—poses significant risks to monetary sovereignty.
With up to 95% of surveyed individuals in some African markets preferring to receive payments in stablecoins over local fiat, the rising volume of these decentralized, cross-border channels weakens domestic currency demand and dilutes the effectiveness of local monetary policy.
IMF observed in a report titled “Stablecoins in Nigeria: A Growing Cross-Border Channel” noted that the widespread use of stablecoins poses risks to monetary sovereignty, particularly as more individuals and businesses turn to digital dollar-linked assets for savings and transactions.
Nodding in agreement is Future Investment Initiative Institute (FII Institute), a non-profit organisation run by the Public Investment Fund, Saudi Arabia’s main sovereign wealth fund.
FII Institute said that central banks face structural challenges.
And according to the institute, when citizens move savings out of national banks and into private digital wallets, conventional capital controls lose their grip.
Institutions like the Bank for International Settlements warn that interest-bearing stablecoins compete directly with domestic-currency deposits, complicating financial oversight and making smartphone-based transfers incredibly difficult for authorities to monitor.
In Nigeria, Naira depreciation has pushed users toward dollar-stablecoins, according to report by Gino Matos in cryptoslate.com.
A stablecoin is a type of cryptocurrency designed to maintain a steady value by pegging its price to a reserve asset, such as a fiat currency (e.g., the U.S. dollar) or a commodity (e.g., gold).
They act as a bridge between traditional money and the digital asset world, providing the speed of crypto without the extreme price swings of assets like Bitcoin.
Federal government has reopened three federal government of Nigeria (FGN) bond issues valued at N1.2 trillion for subscription as part of efforts to raise long-term funds from the domestic debt market.
The Debt Management Office (DMO), which announced the offer on Tuesday, said the three reopened bond issues are each valued at N400 billion.
According to the DMO, the first offer is the January 2035 FGN Bond, a 10-year reopening, carrying an interest rate of 22.60 per cent per annum.
The second is the May 2028 FGN Bond, a 15-year reopening, with a coupon rate of 15.45 per cent per annum, while the third is the June 2037 FGN Bond, a 20-year reopening, also valued at N400 billion.
The office said the bond auction is scheduled for July 20, while successful subscriptions will be settled on July 22.
It explained that the bonds are offered at N1,000 per unit, with a minimum subscription of N50 million and additional investments in multiples of N1,000.
For the reopened bonds, the DMO said successful bidders would pay a price based on the yield-to-maturity that clears the auction, in addition to any accrued interest on the instruments.
Interest on the bonds will be paid every six months, while the principal will be repaid in full on the respective maturity dates.
The DMO reaffirmed that FGN bonds are backed by the full faith and credit of the Federal Government and constitute obligations chargeable on the general assets of the federation.
It added that the bonds qualify as trustee investment securities under the Trustee Investment Act and enjoy tax exemptions for eligible investors, including pension funds, under the Company Income Tax Act and Personal Income Tax Act.
The bonds are listed on the Nigerian Exchange (NGX) and FMDQ Securities Exchange and also qualify as liquid assets for banks in computing their liquidity ratios.
FGN bonds are long-term debt instruments through which investors lend money to the Federal Government in exchange for periodic interest payments and repayment of the principal at maturity.
NBC Scraps Annual Digital Access Fee on DSO
Surge in Fibre Cuts Hobbles Service Provisioning
Why Bandits, Kidnappers are Hard to Trace despite NIN-SIM Linkage – FG
First Securities Brokers Empowers Nigerians to Trade in the Stock Market with the Launch of FirstInvest App
Quest Merchant Bank Hosts Great Place to Work® Nigeria Study Mission
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
Nigeria Launches FreeTV Nationwide
NASENI Moves to Digitize CCB’s 5m Assets Declaration and Operations
Lebara Nigeria Launches Lebara Play, Africa’s First Telecom-Owned Micro-Drama Platform
CANAL+ Partners Samsung to Pre-Load DStv Stream on New Samsung TVs In Nigeria, Other African Countries
Telecom3 days agoMTN Nigeria Slashes Cost of Broadband Internet Router, Unwraps New Data Bundles for Low-Budget Users
E-Financial3 days agoNigerians Accumulate $59Bn in Cryptocurrency Assets —FDC
E-Financial3 days agoFlutterwave Partners Xoom on Transfers into Nigeria
General News3 days agoNearpays, Nigerian Fintech Becomes First African Startup to Win UN’s AI for Good Innovation Factory
News3 days agoDataPro Upgrades Dangote Cement’s Credit Rating to AA+
Telecom3 days agoNokia’s 14 Years of Mobile-Phone Supremacy Ended in an Afternoon
E-Business3 days agoTinubu Orders NIMC to Enrol Every Nigerian by End of this Year – DG
E-Business2 days agoTD Africa Sponsors Check Point Secure 360 Summit to Boost Cybersecurity in Nigeria