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Stakeholders Converge at the Maiden International Financial Inclusion Conference, Lead Conversations on Financial Inclusion

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Nigeria, on 24th and 25th November 2022 hosted the largest convening of the global Financial Inclusion ecosystem since the launch of its National Financial Inclusion Strategy in 2012.

L-R: Lai Mohammed CON, Minister of Information and Culture; Godwin Emefiele, Governor of the Central Bank of Nigeria; Alhaji Mohammed Musa Bello CON, Minister of the Federal Capital Territory, Nigeria and Aishah N. Ahmad, CFA– Deputy Governor, Central Bank of Nigeria and Philip Yila Yusuf, Director, Development Finance Department, Central Bank of Nigeria  at the maiden edition of the International Financial Inclusion Conference 2022, which was held at Transcorp Hilton hotel Abuja on Thursday, November 24th, 2022.

The 2022 International Financial Inclusion Conference organized by the Central Bank of Nigeria (CBN) and its partners within the financial inclusion governance committees themed: “Financial Inclusion for all: Scaling Innovative Digital Models” had in attendance over 5000 participants from at least 78 countries around the world.

Among the major dignitaries in attendance were His Excellency, President Muhammadu Buhari (GCFR), who was represented by the Honorable Minister of the Federal Capital Territory, Mallam Mohammad Musa Bello (CON); United Nations Secretary-General Special Advocate (UNSGSA) on Inclusive Finance, Queen Maxima of the Netherlands; Secretary to the Government of the Federation, Mr. Boss Mustapha; the Honorable Minister for Communication and Digital Economy, Professor Isa Pantami; the Honorable Minister of Women Affairs, Dame Pauline Tallen; the Honorable Minister for Information and Culture, Mr. Lai Mohammed; the Governor of the CBN, Mr Godwin Emefiele, and Dr Kayode Fayemi, former Chairman of the Nigerian Governors Forum and former Governor of Ekiti State.

Also in attendance were financial sector regulators such as the Chairman of the Securities and Exchange Commission, Mr. Femi Lijadu; Managing Director of the NDIC, Mr Hassan Bello; the Commissioner of NAICOM, Mr Sunday Thomas; Board Members of the Central Bank of Nigeria, and the Chief Executive Officer of Brittania-U Nigeria Limited, Mr. Uju Ifejika, amongst others.

During the conference, attendees witnessed the launch of 7 key policies and products that would enable the achievement of 95% Financial Inclusion in Nigeria by 2024 such as the revised National Financial Inclusion Strategy (3.0), the Strategy for Leveraging Agent Networks for Women’s Financial Inclusion, the National Fintech Strategy, the Payment System Vision (PSV) 2025, the Nigeria Financial Services Maps, the CBN Regulatory Sandbox and a Fintech Bridge between the Central Bank of Nigeria and the Central Bank of Egypt.

Giving a keynote address during the conference, the Governor Central Bank of Nigeria – Mr. Godwin Emefiele who chairs the National Financial Inclusion Steering Committee pointed to CBN’s long-standing effort to achieve the financial inclusion targets through creating enabling environments and providing supports.

He said, “From 2012 to date, over 59 policies and initiatives have been implemented by stakeholders to achieve the objectives of financial inclusion.

“These policies and initiatives cut across the banking sector, the insurance sector, the capital market sector and the institutions responsible for infrastructural development for financial inclusion in Nigeria.

“We have prioritized financial inclusion through our invention for over four million smallholder farmers and SMEs creating over two million jobs. By the end of 2024, we aim to be at 95% rate of financial inclusion in Nigeria”.

The Deputy Governor, Financial System Stability, CBN, Mrs. Aishah N. Ahmad, CFA in her welcome remarks highlighted that the conference was holding at a critical time in Nigeria’s Financial Inclusion journey. “Nigeria is indeed at an important tipping point for financial inclusion.

“At no time has there been a prevalence of an enabling regulatory environment, proliferation of digital technology, innovation and collaborative platforms between the public and private sector – all strategic levers required to scale financial inclusion in Nigeria”. In her engaging plenary session, she also stressed the role of policy making in advancing Financial Inclusion in Nigeria.

In a special keynote address by the United Nations Secretary-General Special Advocate (UNSGSA) on Inclusive Finance – Her Majesty Queen Maxima of the Netherlands highlighted the role to be played by the new National Financial Inclusion Strategy in providing a genuine chance for improving livelihoods, such as strategies leveraging the National Insurance Number, Bank Verification Number amongst other policies

The conference featured nine plenary sessions including Scaling Digital Models for the Last Mile, Catalyzing Global Partnerships for Financial Inclusion, Country Experiences, Expert Dialogue on Women’s Financial Inclusion, Fostering Partnerships for Inclusive growth amongst others. Four breakout sessions focused on Digital Infrastructure, Data Privacy & Consumer Protection, Deepening Digital Financial Services and Strategies for reaching Youth & Rural Areas.

Speakers cut across global policy makers and business leaders including Dr Alfred Hannig, Executive Director AFI, Ambassador Chad Blackman, Special Adviser to the DG ILO, Mrs Elsie Addo- Awadzi, Deputy Governor, Bank of Ghana, Mr Folashodun Shonubi, Deputy Governor Operations, CBN, Mr Herbert Wigwe, Managing Director, Access Corporation and Professor Olayinka David-West of Lagos Business School, etc

The IFIC 2022 conference agenda included the first Financial Inclusion Awards Dinner themed ‘Celebrating Champions of Inclusion’. Nine (9) deserving institutions and one individual were recognized for their contributions to advancing financial inclusion in Nigeria through a rigorous nomination and selection process superintended by Price WaterHouse Coopers (PWC).

The winners included Enhancing Financial Innovation and Access (EFINA) who won the Financial Inclusion Innovation Award and Access Bank and Jaiz Bank who won the national women’s financial inclusion award and the inclusive bank of the year award respectively. TeamApt, Remita, Interswitch, E transact, Lapo MFB and Ms Modupe Ladipo also took away awards.

The conference also showcased 20 fintech and start up companies at its Innovation Labs exhibition focusing on various solutions targeted at facilitating payments, digitizing informal financial services platforms and bridging the financial inclusion gap.


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E-Financial

Access Bank Unveils DiamondXtra Season 16, Dangles N200m, 3 SUVs

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The sixteenth season of DiamondXtra, a savings and reward account where customers of Access Bank are rewarded with several prizes, have been unveiled in Lagos.

Access Bank Unveils DiamondXtra Season 16, Dangles N200m, 3 SUVs

 L – R : Doris Okpara, Product Manager, DiamondXtra; Ngozi Igboanugo, Regional sales Manager Festac 1&2 & mainland Access Bank; Bolarinwa Animashaun, Regional Sales Director Lagos 2 Access Bank ; Emeka Ezikeugo, Diamondxtra N200,000 Onsite winner; and Adaeze Ume, Head Consumer liabilities, Access Bank during the launch of Diamondxtra Season 16 held at Alaba International Market Lagos yesterday.

The Season 16th of the special interest yielding hybrid account which allows deposit of both cash and third-party cheques has been upgraded as customers will win prizes to the value of N200 million and three SUVs, amongs other mouthwatering prizes.

Speaking at the unveiling in Alaba International Market, Lagos, Mr Bolarinwa Animashaun, regional sales director, Lagos, said the new season will bring more goodies to the customers as the bank has taken their interest at heart.

“In the last fifteen years, we have been able to ensure customer loyalty, reward committed customers over time and show that we are a bank that is ready to empower people and partner with people.

“If I take it into specific figures, we have rewarded 26,696 customers and we’ve given a total sum of N6.5 billion over the period.

This Season16is interesting, because, we have seen a lot of opportunities to expand into digital opportunities and this time around, we will be rewarding 15,786 customers, and 10,000 of them will be digitally rewarded.

“This is almost half of what we have done over the last 15 years. So that is what is making it special. We have takenit into the possibilities of how technology can expand our business and reward customers”.

The draws for the new season are going to be the same like the previous ones as it will be held in different regions.

“So, we start from the monthly draws, quarterly draws and the annual draws. What makes it extremely interesting this year is that we will be rewarding with up to N200 million in prizes and we have added some very interesting gifts. We will be given out three SUVs as part of the N200 million price for this year”, Animashaun added.

At the unveiling, Access Bank conducted onsite draws where 48 customers who have DiamondXtra accounts and were present at the unveiling won cash prizes ranging from N20,000 to N200,000.

Breakdown shows 40 customers won N20,000 each, five customers won N50,000, two customers won N100,000, while one customer went home with N200,000.

Among winners of the N20,000 prize was Mr Victor Edobor, who said he opened the DiamondXtra accounts 24-hours before the draws.

One of the two winners of the N100,000 prize, Mrs. Maureen Nneka Oforka, said she was surprised to have won at the well-attended event as that was her first time winning any prize.

She said, “I have never won any prize in my life. This is my first. I came here reluctantly and thank God, I am here and I am a winner of N100,000 which has already been paid into my account.

The grand prize winner of N200,000, Mr. Emeka Ezikeugo, a trader in Alaba, said. “I will forever be grateful to Access Bank for the prize as I was not expecting it. I thank the bank for showing leadership among its peers”.

To be part of the winning train and qualify for the DiamondXtra season 16 which is open to both new and existing customers, new customers are required to open a DiamondXtra savings account with just N5,000 by dialling *901*5# or walking into one of our branches to open the account.

However, the more multiples of N5,000 both new and old customers save, the higher their chances of winning at the monthly, quarterly and annual draws.

DiamondXtra is an interest yielding hybrid account which allows deposit of both cash and third party cheques. Hybrid means a combination of both savings and current account features. The DiamondXtra reward scheme has given away over N6.5 billion in cash and household items to over 15,000 loyal customers over the last 15years.  Please click HERE to learn more.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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Lafarge Africa Launches Girls-in-Tech Programme to Empower Women Innovators

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Recognising the underrepresentation of women in the technology sector, Lafarge Africa Plc, has launched the Girls in Tech Program, a pioneering initiative aimed at empowering young women in technology.

Meticulously crafted to bridge the gender gap in tech and empower 10 young females between the ages of 18-25 years from Lafarge Africa Host communities in Cross River State, the program is poised to make a significant impact in the region.

The Girls in Tech Program seeks to harness the unique talents of these young women and introduce them to the dynamic world of technology. By providing them with essential skills and opportunities, the initiative aspires to equip them to become self-reliant as well as problem solvers in society.

In collaboration with Aptech and Arena Multimedia,globally recognized leaders in technology incubation and opportunity, as well as The Bridge Leadership Foundation, the boot camp promises to be a transformative experience for the participating girls, who are eager to make their mark in the tech industry.

Speaking during the onboarding to flag-off in Calabar recently, the Plant Manager, Lafarge Africa Plc, Sotirios Valsamakis, who was represented by the Human Resources Business Partner, Lafarge Africa Plc; Barong Ita, revealed that the program was in line with the company’s commitment to diversity and inclusion.

She also added that the initiative is designed to ignite a spark of inspiration, hope, and possibilities in the heart of the selected girls across the host communities.

“As an organization, people are an integral part of our sustainability drive, and we are invested in building lasting progress by empowering members of our host communities. We also recognize the need for greater and greener diversity and inclusivity within the tech sector.”

Today’s event is not just about launching a program. It is about igniting a spark of inspiration, hope, and possibilities in the hearts of these young women. It is about challenging stereotypes.”

Also speaking at the event, the Cross Rivers State Commissioner for Science, Innovation & Technology, Justin Beshel represented by Edwin Adie, Technical Senior Advisor, Cross Rivers State Ministry of Science & Technology commended Lafarge Africa for the initiative adding that it is in line with the State government’s plan towards science, technology and innovation development.


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Hydrogen, CCHub Partner to Encourage Fintech Startup Success

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As the country faces economic challenges, the need for adaptive strategies in the fintech industry becomes paramount. In line with this, leading Fintech startup, Hydrogen Payment Services Limited (‘Hydrogen’), has teamed up with Co-creation Hub (‘CcHub’) to host an insightful event themed, ‘Adapting Fintech Business Models to Economic Climes’.

The event, set to take place on Thursday, April 18, 2024, from 12:00 WAT at the CcHub office in Sabo, Lagos, will delve deep into the intricacies of Nigeria’s economic challenges and how these influence the fintech ecosystem.

Participants will gain actionable insights on how to adapt fintech business models to volatile economic conditions by prioritising flexibility, agility, and customer-centricity.

This collaboration underscores the shared commitment of both entities to empower aspiring founders venturing into the Fintech space amidst economic uncertainties.

By leveraging their respective expertise and resources, Hydrogen and CcHub aim to equip emerging entrepreneurs with the knowledge, tools, and support needed to thrive in today’s dynamic economic conditions.

Emeka Awagu, Chief Technology Officer at Hydrogen, commented on the strategic partnership with CcHUB: “Our alliance with CcHUB amplifies our shared commitment to pioneering transformative solutions in Nigeria’s fintech sector.

“By leveraging Hydrogen’s technological expertise alongside CcHUB’s innovative approach, we are primed to set a new standard for fintech excellence and drive impactful change across the industry.”

The event will feature a distinguished panel of industry experts and thought leaders, including, Ina Alogwu, Group Director, Digital Transformation, ARM HoldCo; Emeka Awagu, Chief Technology Officer, Hydrogen, and Miracle Ezechi, Digital Marketing Manager, Hydrogen.

The panel discussion will be moderated to encourage an engaging and insightful conversation on the strategies and innovations required to thrive in Nigeria’s Fintech landscape amidst economic challenges.


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