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CIBN Seeks NDIC’s Cooperation on Proposed Act Amendment

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Dr Bayo Olugbemi, president, Chartered Institute of Bankers of Nigeria (CIBN) has called on the Nigeria Deposit Insurance Corporation( NDIC) to partner with the Institute to drive advocacy and consumers education.

CIBN Seeks NDIC’s Cooperation on Proposed Act Amendment

Olugbemi made the call during a courtesy visit to Mr Haruna Bello, managing director/CEO of NDIC in Abuja.

He also solicited support of the NDIC on the proposed amendment of the CIBN Act of 2007, to enhance the power of the disciplinary tribunal to discipline erring bankers, among others.

According to him, the corporation has come up with some laudable initiatives that require partnerships.

“So, we call on the Nigeria Deposit Insurance Corporation to partner with us to drive advocacy and consumers education on some of the laudable initiatives of the Corporation,” Olugbemi said in a statement .

The statement was issued by Mr Nelson Olagundoye, head, Corporate Communications and External Relations, CIBN, in Lagos.

Olugbemi commended the corporation for its consistent support for the institute toward the realisation of its mandate of determining the standards of knowledge and skills to be attained by persons seeking to become part of the banking profession.

The CIBN President also requested that the NDIC support the Institute by donating artifacts and other relevant materials to the newly established Banking Museum of the Institute.

He lauded the enormous support extended to the institute by the NDIC on strategic inputs and contributions as member(s) of the CIBN Governing Council and various Committees.

Olugbemi, while congratulating Mr Haruna Bello on his recent appointment as the Managing Director of the Corporation, said it was a reflection of his doggedness, wealth of experience and management acumen.

He assured him of the support of the Governing Council and members of CIBN.

Olugbemi said that as a member of the Council of the Institute, the Managing Director was expected to be guided always by ethics and professionalism in the discharge of his responsibilities and mandates to the stakeholders of the corporation, banking industry, and the economy at large.

In his response, Bello expressed gratitude to the institute and commended it on the level of capacity building and support for the industry.

“This visit is a testament of the institute’s continuous effort in sharing its vision and mission with the key stakeholders within the banking industry.

“This will go a long way in strengthening the existing relationship between the institute and key stakeholders in the banking industry”, he said.

Bello reassured the institute that the corporation would continue to formulate sound policies that would ensure safety within the banking industry.

He commended the institute for accrediting the NDIC Learning Centre as well as the introduction of the Banking Examiner Courses, urging it to continue to foster ethics and professionalism to promote ethical standards in the banking industry.

He gave his assurance to continually support the institute’s leadership and be more active and committed to its activities, programmes and events.


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E-Financial

Unity Bank Customers Win Over N4 Million in Cashtoken Rewards Promo

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Unity Bank customers have claimed over N4 million in cash rewards in its ongoing loyalty programme recently rolled out with Cashtoken, a Cash Reward-as-a-Service company.

The winners included no fewer than 40 customers who adopted and transacted on the Bank’s digital banking platforms, including the UniFi mobile banking application, the *7799# USSD platform or activated their Unity Bank Verve Card to transact on e-payment terminals across Nigeria.

Beginning from onboarding in our customer lifecycle journey, the Unity Bank Cashtoken Partnership commenced as a loyalty and reward scheme to reinforce the benefits of e-banking platforms.

To begin, Customer transactions earn cash tokens, which are then redeemed to qualify for the monthly Cashtoken Rewards draw. Consequently, winners emerge from the draws to claim the cash prizes.

Recall that the retail lender announced the ongoing Cashtoken Rewards loyalty programme in December 2023 in partnership with Cashtoken Rewards Africa to empower customers and improve customer satisfaction.

The partnership with Cashtoken Rewards also provided an opportunity for the Bank to migrate customers—old and new—to a platform that will continually create exciting rewards and appreciation for loyalty.

Eghomware Iyamu, Unity Bank’s Head of E-Business, commenting on the success of the Cashtoken Rewards loyalty program, stated: “We are excited to see our customers win over N4 million in cash rewards through our partnership with Cashtoken.

“This initiative demonstrates our commitment to recognizing and rewarding the loyalty of our customers”.

“By leveraging our digital banking platforms, including the Unifi mobile banking application and the *7799# USSD platform, we are not only enhancing customer experience but also providing life-changing opportunities.

“The Cashtoken Rewards program is a testament to our dedication to improving customer satisfaction and creating meaningful rewards along our customer lifecycle journey.

“We look forward to seeing more of our customers benefit from this exciting program as we continue to innovate and deliver exceptional value to them.”

Unity Bank has robust electronic banking products which include mobile and digital banking channels, including ATM, PoS, or any digital payment channels which support retail product transactions across the country. New-to-Bank customers are invited to open a Unity Bank account, onboard onto the digital platforms and begin transacting on the various platforms to earn cash token rewards and cash prizes while existing customers are encouraged to onboard and transact to win even more rewards and cash prizes.


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FXTM Academy Concludes Successful Event in PHC, Host Next Event in Lagos

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FXTM, a global online trading company is hosting an exclusive training for traders where participants can discover the strategies used by the world’s top traders to gain mastery of the market.

L-R: Oluwafumbi Ogedengbe, Specialist Client Education, FXTM Nigeria; Adaeze Uzochukwu, Education Coordinator, FXTM Nigeria; Mathew Anthony, Manager, Market Analysis, FXTM Nigeria; Destiny Ikeakanam, Education Coordinator, FXTM Nigeria and Pius Ogbu, Specialist, Client Education, FXTM Nigeria.

FXTM Academy is dedicated to helping traders and trainees achieve exceptional results in the global markets.

According to Mathew Anthony, Educator at FXTM Academy “We are a global online trading platform that offers stocks, commodities, and other financial instruments, providing traders with access to various markets, competitive pricing, and advanced trading tools.

“Our goal is to empower traders to Learn, Trade and Earn from the global markets.”

This Academy will provide free tutorials through webinars, workshops, video presentations, online courses, market analysis, insights, professional mentorship, and support.

“By offering education and training, FXTM Academy aims to help traders improve their trading skills, make informed trade decisions, and achieve their financial goals.”

Abiola Akinyele, Executive Director of FXTM Nigeria said the registration of the training has opened on the FXTM website and event will take place on the 17th of August.

He said it will be quite exciting and will provide great opportunities for participants to grow the skills to unprecedented heights and to join the ranks of the elite.


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Nova Bank Will Make Great Impact – Oduoza

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Phillips Oduoza, chairman of Nova Bank Plc, has said that the new commercial bank is poised to create jobs and make a great impact.

Nova Bank Will Make Great Impact – Oduoza

Oduoza who spoke at the launching of Nova Bank’s first branch as a national commercial bank in Lagos, said that the bank’s foray into commercial banking and upgrade to National Banking Licence were part of a long-term goal to make an impact.

He said, “We are not here just to maximise profit, but we are here as Nova to have the greatest impact in the society. And this is one of the reasons why we decided to extend to commercial banking business.

“We have been very, very successful, as testified by our customers in the wholesale banking space. And we felt it is just necessary to extend the service to the retail end of the market, which is where you will have the largest population of banking customers.

“Therefore, we want to transfer that success story to the retail end of the market. We want to impact the Nigerian economy as a whole. We want to assist in job creation, stability of the country, which Mr President has been working on. So, by going commercial, it gives us a platform for more job creation in the country.”

Governor Babajide Sanwo-Olu, who performed the ribbon cutting for the inauguration of the first branch, commended the board and management of Nova Bank for taking the decision to invest more into commercial banking not minding the various challenges and uncertainties in the economy.

He said, “We need to encourage them; we need to stay in touch with them because they have a choice.

“They could as well have remained as a nimble wholesale bank or as a merchant bank as a matter. But they felt they need to take it further, and this means they need to dip their hands into their pockets and bring additional resources that would make it possible for them to be able to compete on a larger scale.”

 

 


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