Heritage Bank Plc has said it will continue to lend support to causes that promote women empowerment as this will impact positively on the nation’s socio-economic development.
Ifie Sekibo, managing director, Heritage Bank stated this at the “Raising Girls Summit ‘19” which held in Lagos last Friday as part of activities to commemorate the International day of the Girl-Child.
Sekibo, who was represented at the event by Dike Dimiri, regional executive, Lagos & South-West, Heritage Bank, disclosed that the lender sponsored the “Raising Girls Summit ‘19” because as he put it: “At Heritage Bank, we are committed to anything that represents women empowerment.”
According to him, the Bank has been in the vanguard of promoting financial literacy and financial inclusion especially among women because it believes that this is key for advancement in today’s dynamic world.
He said: “If we can start promoting financial inclusion especially among the girl child, then we can stand a better chance of having our children growing up to help build a strong financial system.
“Heritage Bank has been in the fore front of trying to ensure that financial inclusion is not just for adults but for children and more so at a very early age.”
Sekibo, who noted that Heritage Bank actively participates in financial literacy programme organised by the Central Bank of Nigeria (CBN) in different parts of the country every year, assured organizers of “Raising Girls Summit ‘19” of Heritage Bank’s continuous support
Organsied by The Green Girl Company Limited, (organizers of the Miss Nigeria Beauty Pageant), the Raising Girls Summit, is part of a global effort to empower, and deliberate on issues affecting the girl-child in Africa.
It is also aimed at influencing social change and policies to ensure the better life and the future prospect of girls in Africa.
In her remarks at the event, the Green Girl Company Limited CEO, Dr. May Ikeora, thanked Heritage Bank for its support for the summit, adding that with the lender’s support, the organisation was making valuable contribution to Nigeria and the world.
She advised young girls not to focus on what society can do for them, but on what they can contribute to the society.
Also speaking at the event, a former “Miss Nigeria”, Helen Prest-Ajayi, stated that if the girl-child is better educated, the country would be a better place for all Nigerians.
Stanbic IBTC Bank Disowns Lagos ATM Fraudster
Stanbic IBTC Bank PLC has disowned Tope Olajide, 22-year-old fraudster arraigned for theft of customers deposits.
The Bank said this in a statement on Wednesday.
The statement said: “The attention of the management of Stanbic IBTC Bank PLC has been drawn to news currently circulating in the media, about the alleged arraignment of staff of the Bank on charges bordering on the theft of customers deposits.
“The Bank would like to clarify that the defendant, a 22-year-old Tope Olajide, IS NOT, and was at no point in time an employee of Stanbic IBTC Bank PLC.
“The alleged culprit was apprehended around 7:30 am, on Thursday, 27 August 2020, by security operatives after he was exposed by CCTV footage using ATM cards he had allegedly stolen and converted, to make withdrawals from the accounts tied to the stolen ATMs.
“The CCTV footage also showed the alleged culprit pretending to assist customers at ATMs whilst also attempting to fraudulently dispossess the customers of their ATMs.
“He was subsequently arraigned before an Ikeja Magistrate Court on Monday, 14 September, for stealing the debit cards of two customers and using them to unlawfully withdraw the sum of N427,000.
“The Bank would also like to implore members of the public to be security conscious when conducting transactions at ATMs. Customers are advised to report any suspicious actions around them to security operatives who are usually stationed around the Bank’s ATMs, when carrying out transactions at any of our ATM locations.
“As an organisation, we hold dear the values of integrity, and we will continue to prioritise the safety of our customers effectively.”
Buhari Okays Establishment of CBN-Led Infraco
President Muhammadu Buhari has approved the establishment of an Infrastructure Company (Infraco) to be driven by the Central Bank of Nigeria (CBN) in partnership with the African Finance Corporation (AFC) and the Nigerian Sovereign Investment Authority (NSIA).
This is coming on the heels of the foreign reserves’ slump to $36 billion following a cocktail of monetary policy interventions by the apex bank to cushion the scathing effects of the COVID-19 pandemic on the economy.
Mr Godwin Emefiele, CBN governor, made these disclosures in Abuja at the annual conference of the Chartered Institute of Bankers of Nigeria (CIBN) with the theme: Facilitating a Sustainable Future: The role of Banking and Finance.
According to him, Infraco would enable the use of private and public capital to support infrastructure investment that will have a multiplier effect on growth across critical sectors.
“This entity would also be able to raise funds from the capital markets and mobilise long term finance to address some of our infrastructure needs, while providing reasonable returns to investors. “We believe this well-structured fund can act as a catalyst for growth in the medium and the long run. The support of the banking community will be important in achieving this objective.
“A well-built infrastructure system, comprising hard infrastructure such as roads and ports, and soft infrastructure such as broadband penetration, can have a multiplier effect on growth by enabling the expansion of business activities in the country”, he explained.
On foreign reserves, Emefiele attributed its crash to the decline in foreign exchange earnings and subsequent adjustments in the value of the naira to the dollar.
Amana Bank signs Comprehensive Software Deal with Path Solutions
Amana Bank, a leading Islamic bank in Somalia has announced that it has selected iMAL, the AAOIFI-certified core banking platform from Path Solutions to replace its legacy IT system and deploy a single, cloud-based digital banking platform to underpin its banking operations.
This is Path Solutions’ third win in Somalia after Premier Bank and MyBank Ltd. The company went through a lengthy competitive bidding to which all international suppliers were invited, before being selected as Amana Bank’s preferred technology partner.
According to a statement following the signing, Path Solutions will supply and install its flagship Islamic core banking platform iMAL in addition to its comprehensive digital suite at Amana Bank Somalia. The new digital software will provide instant 24/7 service availability with fast, inexpensive, easy and convenient online banking, frictionless payments and transfers, personalization, engagement and retention.
Abdirizak Hussein Malin, Chairman of Amana Bank Somalia commented, “As part of our strategy, Amana Bank has instituted a digital transformation plan that will help us meet the emerging needs of our customers and the increasing demands of innovation.
“Consequently, we required a partner with open and agile technology that will drive powerful change. We have chosen Path Solutions for its ability to deliver vital digital financial solutions at this critical time with its depth of experience supporting Islamic banks in Africa.
“The company has differentiated itself from other vendors in its unique ability to combine core Islamic values with modern digital banking solutions, and to fully comply with Sharia and banking regulations.
“We are confident that the new technology, proven to significantly improve levels of customer fulfilment, will transform our operations by driving incredible efficiency gains while also reducing risk, lowering overall IT costs via higher automation and lower maintenance spending”.
The new iMAL platform leverages artificial intelligence and machine learning to help financial institutions get predictive insights for better data-driven decision making. It will also help strengthen customer loyalty through enhanced security transactions.
“We are delighted to partner with a leading Islamic bank in Somalia on a project that will set a new standard in digital banking for the country. Today, every financial institution has an incredible opportunity to apply advances in cloud computing to redefine every aspect of its business”, said Mohammed Kateeb, Path Solutions’ Group Chairman & CEO.
“Somalia’s Amana Bank is a good example of this transformation to drive innovation forward and ensure much more secure banking experience, enabling customers to enjoy the nuances of non-stop banking with cloud-based services.
The bank will also benefit from the full Islamic coverage which bridges the gap between modern customer requirements and intrinsic Islamic values. Our multi-award winning Islamic core banking platform will support the delivery of innovative digital products that are both Sharia-compliant and specialized for Amana Bank’s retail and corporate customers”.
The new agreement was signed by Amana Bank’s Chairman Abdirizak Hussein Malin and Path Solutions’ Group Chairman & CEO Mohammed Kateeb on Sunday 6 September at Path Solutions’ Dubai office. The implementation will be delivered 100% in the cloud and 100% remotely amidst the COVID-19 lockdown.
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