E-Financial
Ekeh Lauds Stanbic IBTC at Launch of Digital Branch
Stanbic IBTC Bank formally opened its pioneer digital branch located strategically in the Maryland Mall along Ikorodu Road – Lagos, with Leo Stan Ekeh, chairman, Zinox Group, showering encomiums on the bank for the remarkable feat.
The digital branch will offer customers a wide range of technologically-driven and seamless self-service channels including instant deposits, personal teller machine, airtime top-ups, interactive access to the bank’s suite of products and services and an integrated app through which customers can access the Group’s various solutions such as Personal Banking, Pension Fund and Asset Management, among others.
In his speech at the event, Ekeh who featured as the Special Guest of Honour, disclosed that the launch of the digital branch was timely and in line with the rapidly evolving revolution in the digital space.
In his opinion, Stanbic IBTC Bank has with this singular achievement effectively positioned itself as a bank of choice for the current generation of digitally-minded and tech-savvy youths, many of whom are constantly in search of more innovative ways to carry out their daily activities.
“I must commend the Management of Stanbic IBTC Bank for this revolutionary feat. In the 21st century, money shouts but wealth whispers. This is a century of constant innovation and with the launch of this digital branch, you have taken a huge step towards meeting the yearnings and aspirations of the current generation of technologically-minded customers.
“Many years ago, I had sought to obtain a license from the Central Bank of Nigeria for card-less or virtual banking but this was not granted as the concept sounded strange at the time. Today, we are witnessing a banking revolution as you do not need to have a debit card with you to make withdrawals here or a teller attending to you before you can make a cash deposit,” he stated.
Also speaking at the event, Yinka Sanni, chief executive officer, Stanbic IBTC Bank, disclosed that the launch of the digital branch was in line with the need to stay one step ahead of the game by leveraging on the power of sophisticated technology to bring convenient banking to customers.
According to him, Stanbic IBTC has consistently maintained its focus as first rate provider of seamless and convenient personal and business banking solutions which enables its customers move forward.
The event, which featured a tour of the various digital self-service outlets in the branch, also witnessed detailed demonstrations which gave attendees a first-hand glimpse of the workings of the various terminals and channels.
Kuda Microfinance Bank partnered with Lovers & Frnds for a Valentine’s edition event on Sunday, February 15, at Space Hub Lekki, Lagos, redefining celebrations around love, friendship, and social connections beyond romance.
Kuda Bank
The R&B-themed gathering drew couples, friend groups, and solo attendees with music sets from DJs like TGarbs, games, gift exchanges, and colour-coded tags—red for relationships, yellow for mingling singles, orange for non-minglers—to spark easy interactions.
Kuda activated a branded photo booth, merchandise giveaways, prize activities, and complimentary drinks for Premium loyalty tier customers, while vendors used Kuda Business POS terminals for seamless cashless payments.
Senior Brand Manager Emmanuel Femi-Adejobi said: “We partner with experiences matching our customers’ lifestyles in music and entertainment, creating spaces they genuinely connect with—we’ll keep supporting how they live and celebrate.”
By Mathew Anthony, Market Analyst at FXTM
In another positive development for Nigeria, the CBN has proceeded with 50-basis points rate cut.
FXTM Logo
With favourable fundamental forces at play, it was always a question of how much rather than if rates will be cut in February.
Although some were expecting a hefty 100-basis point cut, this was still a positive move by the CBN, mirroring the dovish strategy of other major banks on the continent.
Interest rates were slashed thanks to cooling inflationary pressures, a stronger Naira and rising FX reserves.
This move is likely to boost confidence over the economic outlook ahead of the Q4 GDP report scheduled for release later this month.
Central Bank of Nigeria (CBN) has lowered its Monetary Policy Rate (MPR) by 50 basis points to 26.50 percent from 27 percent, a unanimous decision announced by Governor Olayemi Cardoso at the end of the 304th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.
CBN
Cardoso cited 11 straight months of decelerating headline inflation—reaching 15.10 percent in January 2026 per National Bureau of Statistics—as key, driven by prior tightening lags, naira stability, food supply gains, steady petroleum prices, export earnings, remittances, and balance of payments strength.
Liquidity ratio stays at 30 percent, CRR unchanged at 45 percent for commercial banks (16 percent merchant banks) and 75 percent non-TSA public deposits; standing facilities corridor now +50/-450 basis points around MPR.
The MPC retained other parameters, welcoming Executive Order 09 redirecting oil/gas revenues to the federation account for fiscal boost, last cutting rates in September 2025 after November’s hold.
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