E-Financial
GSMA Outlines Details of NFC Experience

The GSMA has announced details of the NFC Experience at the NFC & Mobile Money Summit 2013, which will be delivered in conjunction with Isis, the NFC Experience Official Sponsor.
All show attendees with NFC-enabled smartphones will be able to participate in the NFC Experience at this year’s NFC & Mobile Money Summit, which will take place at the Metropolitan Pavilion in New York on 14-17 October. Services showcased in the NFC Experience include the Isis Mobile Wallet, as well as the My BTAGS app from ITN International.
“At this year’s event in North America, the GSMA is bringing together key leaders in the mobile, financial and retail sectors to stimulate conversation and collaboration and to discuss key opportunities and challenges faced by the mobile commerce ecosystem,” said Michael O’Hara, Chief Marketing Officer, GSMA.
“The NFC Experience will enable our attendees to experience first-hand the many innovative products and solutions that are advancing the state of NFC and mobile money today and into the future.”
A key element of the NFC Experience is the Isis Mobile Wallet which holds virtual versions of many things existing in physical wallets, such as select payment and loyalty cards, along with store offers, deals and promotions.
The Mobile Wallet can be used by individuals with NFC-enabled smartphones and NFC & Mobile Money Summit attendees with existing AT&T SIM cards will have the opportunity to exchange their SIM card for a new NFC SIM card, enabling them to use the Isis Mobile Wallet.
A second component of the NFC Experience is the ITN International My BTAGS app, which allows attendees to collect and exchange contact information with other attendees using their NFC-enabled Android phones.
To use, attendees simply tap an appropriate phone on the NFC & Mobile Money Summit event badge to set up an account and then can start tapping the badges of people they want to connect with at the event.
The app stores all the information directly on the phone and is accessible offline through the app.
Showcasing NFC Across Vertical Sectors
The GSMA stand will feature a range of demonstrations from around the globe that illustrate how NFC is benefitting businesses across a range of sectors, showcasing transport, retail, security and e-health scenarios from worldwide partners including Beeline/MTS (Russia), Giesecke & Devrient (Sweden), Proxama (UK), RioCard (Brazil) and Telecom Italia (Italy).
The GSMA and Isis will also offer attendees to the event a tour of select areas of Manhattan powered by NFC. Spaces are limited and further details can be obtained by visiting the GSMA stand during the event.
Exploring Key Issues in NFC and Mobile Money
This year’s NFC & Mobile Money Summit will bring together stakeholders from the mobile ecosystem will to debate the importance of NFC in the mobile commerce landscape, as well as the issues to be overcome to make it a mass-market reality.
The two-day conference will explore topics such as the state of the NFC market; mobile commerce from the retailer’s perspective; and the future of mobile wallets.
The programme will feature keynote presentations from senior executives from organisations including China Mobile, Citi Transaction Services, C-SAM Inc., GlobalPlatform, Isis, MasterCard, MCX, Orange, Rogers Wireless, Scotiabank, Telecom Italia Group and Visa Inc., among others
Beyond the conference and exhibition, the NFC & Mobile Money Summit also includes seminars, meetings and workshops, offering attendees further opportunities to discuss and debate the key issues shaping the industry, as well as network with colleagues and make new contacts.
The hugely popular complimentary ‘Mobile Money Accelerator’ classes will again be held before the main conference sessions, with Ericsson presenting the topic “Putting the US Mobile Money Market in a Global Context” on Tuesday, 15 th October and Fiserv hosting the class “Mobile Money Movement: The Future of Mobile Payments” the following morning.
E-Financial
Smartcash PSB Launches Access to Instant Motor Insurance via Leadway Assurance

In continuation of its mission to make financial services simpler, faster, and more accessible, SmartCash Payment Service Bank, a subsidiary of Airtel Nigeria, has announced a strategic partnership with Leadway Assurance to offer Smartcash users an effortless access to Leadway’s mobile-friendly motor insurance service.
Starting from ₦15,000, this new offering provides a convenient and affordable way for motorists to stay protected and compliant with national insurance requirements. With this collaboration, new and existing Smartcash customers can now acquire or renew two types of Leadway Assurance motor insurance: the Third-Party Insurance and AutoBase Comprehensive Insurance, directly on the Smartcash app or by dialling *939#.
While the third-party motor insurance plan offers the legally required minimum cover, protecting motorists from liability for damages or injuries caused to others, the AutoBase Comprehensive Insurance plan extends that protection to cover the user’s own vehicle in the event of accidents.
Commenting on this partnership, Chief Executive Officer, Smartcash PSB, Tunde Kuponiyi highlighted the importance of the collaboration in driving convenient and inclusive insurance access for Nigerians.
“At Smartcash, our goal has always been to bring inclusive financial solutions closer to everyday Nigerians. By partnering with Leadway Assurance, we’re making it easier for motorists to insure their vehicles without stress or delays. It’s insurance that moves at your speed,” he said.
He also noted that Smartcash users can complete the entire purchase process in under three minutes, from plan selection to payment with no physical paperwork or documentation required. Customers receive instant confirmation and their digital policy documents via email, making insurance more accessible than ever.
Also speaking on the partnership, Kike Fischer, Director, Sales, Retail and Partnership, Leadway Assurance, added: “At Leadway, innovation and exceptional service are at the core of our mission to deepen insurance penetration and inclusion.
“This collaboration with SmartCash enables us to deliver real-time protection to more Nigerians via a trusted, everyday platform. It marks a bold step in transforming how insurance is accessed and experienced across the country.”
The insurance integrated service is also fully inclusive, as it works across all types of mobile phones. Users without smartphones or internet access can access the same features via USSD, ensuring nationwide reach, especially in rural and underserved areas.
This partnership reinforces Smartcash’s commitment to delivering digital-first financial services that meet the real-world needs of Nigerians. By simplifying access to essential products like motor insurance, Smartcash continues to empower users with tools that protect, support, and uplift their daily lives.
E-Financial
CBN Suspends Dividend, Bonus Payments for Banks under Forbearance

Central Bank of Nigeria (CBN) has suspended dividend payments to shareholders and bonuses to directors and senior management staff of banks currently benefiting from regulatory forbearance.
Forbearance refers to the temporary reduction or postponement of payments, such as for loans or mortgages, usually introduced to give temporary relief to individuals, and corporations, including financial institutions encumbered by financial straits.
The directive was contained in a circular dated June 13, signed by Olubukola Akinwunmi, director of Banking Supervision, CBN.
According to the CBN, the move is part of efforts to strengthen capital buffers, enhance balance sheet resilience and promote prudent internal capital retention within the banking sector during what it described as a transitional period.
The regulatory forbearance arrangement, which allows banks some relief in meeting credit exposure and Single Obligor Limit (SOL) requirements, is currently being reviewed by the central bank in terms of capital positions and provisioning adequacy.
As part of this review, the CBN directed affected banks to suspend dividend payments, defer bonuses, and refrain from making investments in foreign subsidiaries or launching new offshore ventures.
“This temporary suspension is until such a time as the regulatory forbearance is fully exited and the banks’ capital adequacy and provisioning levels are independently verified to be fully compliant with prevailing standards,” the CBN said.
The bank added that the measure is to ensure that internal resources are retained to meet existing and future obligations and support “the orderly restoration of sound prudential positions.”
The CBN also said it will continue to monitor developments and engage with institutions as necessary.
The move comes amid efforts to tighten supervision across the financial system following recent banking sector reforms and recapitalisation directives.
E-Financial
Fidelity Bank ED, Kevin Ugwuoke takes over as President of Risk Managers Association

Kevin Ugwuoke, Executive Director and Chief Risk Officer of Fidelity Bank Plc, has formally assumed office as President of the Chartered Risk Management Institute of Nigeria (CRMI).

L-R: Registrar/Chief Executive, Chartered Risk Management Institute of Nigeria (CRMI), Victor Olannye; Divisional Head, Risk Management Securities and Exchange Commission (SEC), Grace Abioye; Immediate Past President, CRMI, Ezekiel Oseni; President, CRMI and Executive Director/Chief Risk Officer, Fidelity Bank Plc, Kevin Ugwuoke; Director, Enterprise Risk Management, Nigeria Deposit Insurance Corporation (NDIC), Amal Haruna; and Rep. Keynote speaker, Deputy Group Management Director, United Bank of Africa (UBA), Chukwuma Nweke; at the CRMI Conferment Handover/Sent-Forth ceremony, held in Lagos recently.
His leadership promises a reform-focused era anchored on policy advocacy, ethical standards, and digital innovation to deepen risk governance across sectors in the country.
Speaking during the presidential handover ceremony in Lagos over the weekend, Ugwuoke — who also doubles as acting President of the Federation of African Risk Management Associations (FARMA) — described his election as “a call to action.”
He pledged to reposition CRMI as a thought leader and institutional partner in shaping the future of risk management in Nigeria’s national development.
“Our mission is more than just certification; it’s about strengthening the culture of risk governance across sectors. We will collaborate with regulators, raise awareness, and provide practical tools to help organizations embed risk discipline at all levels.”
Ugwuoke outlined a five-pronged strategy to guide his administration: strengthening professional education and certification; deepening policy and regulatory engagement; accelerating digital transformation; integrating ESG and climate risk into corporate strategies; and mentoring the next generation of risk practitioners.
He explained that CRMI will align its initiatives with key policy institutions — including the Nigerian Economic Summit Group, the National Assembly, and sub-national governments — to help embed robust risk frameworks into economic development plans.
“We must integrate risk thinking into how we plan, govern, and invest. We will advocate for more inclusive regulations to empower small and medium enterprises, improve macroeconomic stability, and foster institutional resilience.”
Ugwuoke also announced plans to revise the Institute’s curriculum, introduce specialized certifications to reflect emerging risks, and implement a new National Risk Observatory to provide real-time risk data to both the public and private sectors.
“Digital innovation will be central to how CRMI operates going forward. We are automating our backend, delivering more virtual training, and employing technology to scale our impact across the country and beyond.”
In his remarks, the outgoing President of CRMI, Ezekiel Oseni, challenged the new leadership to consolidate on the achievements made under his tenure — from securing chartered status and strengthening partnerships to gaining greater international recognition — and take the Institute to the next level.
Also speaking on the occasion, Chukwuma Nweke, deputy managing director of United Bank for Africa (UBA), delivering a goodwill message on behalf of Group Managing Director, Oliver Alawuba, described Ugwuoke as a worthy successor.
“As Professor Oseni hands over the baton to Kevin Ugwuoke — a well-respected leader in the risk management ecosystem — we are assured CRMI is poised for greater achievements under his watch.”
Nweke stressed that growing economic uncertainties — from inflation and exchange rate volatility to growing debt — underscore the need for a more strategic view of risk. “Risk must be recognized not as a compliance obligation or a cost center but as a key enabler of resiliency and growth. Institutions that embed risk into their strategies will absorb shocks more effectively, unlock value, and inspire investor confidence.”
As part of the day’s ceremonies, 11 distinguished practitioners were conferred with the Fellow of Chartered Risk Manager (FCRMI) award, while 21 new members were formally inducted as Chartered Risk Managers (CRM). Furthermore, a new Governing Council was inaugurated to oversee the affairs of the Institute for the 2025–2027 term, marking a decisive step forward in institutional renewal and policy direction.
- E-Financial1 day ago
Fidelity Bank ED, Kevin Ugwuoke takes over as President of Risk Managers Association
- News1 day ago
Why I am vying for AFRINIC board seat in 2025 election – Terry Edet
- General News1 day ago
Airtel Concludes Nationwide Environment Week with Market Clean-Up by Employees
- Telecom1 day ago
Crypto Exchange MEXC Rolls Out P2P Support for Naira, Birr, and Rupee
- General News1 day ago
Court Orders Lawyer to Produce “Bail-Jumping” Client in MTN Cyber Fraud Case
- Broadcasting1 day ago
Multichoice Nigeria Faces Revenue Decline Amid Economic Challenges
- News1 day ago
Elumelu, UBA Chair Seeks Digital Sovereignty for Africa
- E-Financial1 day ago
CBN Suspends Dividend, Bonus Payments for Banks under Forbearance