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Stanbic IBTC Pledges Support for Customers

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Stanbic IBTC Bank, a member of the Standard Bank Group, has pledged to continue to avail its business customers with ongoing robust support in order to enhance their growth and sustainability especially in the light of the current economic turbulence. This assurance was made at a recent one-day interactive session with its business customers in Lagos. The forum, which was tagged ‘Partnering for Success’, examined the opportunities open to businesses amidst the global economic meltdown with a view to empowering businesses with the wherewithal to seize these opportunities to grow their businesses.
The seminar was attended by Stanbic IBTC Bank business customers from various economic sectors including oil and gas, construction, telecoms, logistics, as well as small and medium scale enterprises. It was also an opportunity for the bank to closely feel the pulse of its customers in a bid to assess customer needs and how well its products currently meet those needs.
According to Jacques Troost, executive director, Personal and Business Banking, Stanbic IBTC Bank, the essence of the session was to better understand the needs and specific yearnings of the bank’s business customers.
“Considering the short time we have played in the market as Stanbic IBTC Bank and the enormous achievements we have recorded, we do not claim to be near perfect yet but we are striving for the mark. And so platforms like this provide us the opportunity to better understand your specific needs, serve you better and earn your complete confidence”, he said.
Customers of the bank who spoke at the forum commended the bank for always striving to satisfy its customers, particularly the special attention paid to their needs.
They however urged the bank not to relent but continuously strive to raise the bar of service excellence for the financial services industry.     
Stanbic IBTC Bank’s unique mix of products and services, with the potential of helping businesses to maximize returns, was also explained to the customers. Some of these products and services include the New Business Online, which is a highly secure internet-based multi-currency, multi-country, multi-entity online banking channel. It enables clients to make payments to third parties (suppliers, vendors, staff etc), transfer funds between their accounts and provides real-time access to their balances and statements for all accounts, across currencies, and even across countries.
Another product prominently showcased to the customers at the forum was the Vehicle and Asset Finance (VAF) which highlighted the unique advantages of leasing assets to free up capital for their core businesses.
The Bank assured its numerous customers that the special relationship they have with Stanbic IBTC Bank would be continuously nurtured as ‘‘the relationship between you and Stanbic IBTC Bank is not just that of a bank and customer, but of partners for success’’, said Binta Max-Gbinije, head of Business Banking Expert.
Stanbic IBTC Bank is a full service universal bank leveraging on its industry expertise and international presence with a clear focus on two main business pillars – Corporate and Investment Banking and the Personal & Business Banking. The Bank’s sister company is also an industry leader in the wealth management space with her widely acknowledged foremost position in providing pension and asset management services to her teeming clientele.

 


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NCC Threatens Illegal Users of GSM Boosters with Arrest, Prosecution

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Nigerian Communication Commission (NCC) has warned telecom consumers to desist from using illegal GSM boosters.

NCC Threatens Illegal Users of GSM Boosters with Arrest, Prosecution

The commission also said that anyone caught using a GSM booster without obtaining approval of a duly licensed network operator will face arrest and prosecution.

GSM boosters are devices that transmit and receive telecommunications signals and can therefore interfere with other radio frequency equipment.

Ikechukwu Adinde, director, public affairs, NCC, said in a notice published on NCC website, that only licensed network operators are allowed to use GSM boosters.

The booster, also known as amplifier or repeater is made up of three main elements – exterior antenna, amplifier, and interior antenna.

They form a wireless system to boost cellular reception

“Members of the public should note that, willful interference with any wireless telegraphy is an offence under Section 16 of the Telegraphy Act, 2004,”it said

The agency said it will not condone any flagrant breach of this law.

It has also enforced measures to prosecute offenders.

Accordingly, monitoring mechanisms have been put in place and anyone caught using a GSM booster without obtaining approval of a duly licensed network operator will face arrest and prosecution.

“Any member of the public with useful information regarding the illegal use of GSM Boosters should contact the Commission on 09-4617000/7351 or send an email to [email protected],” the notice said.

“Individuals desirous of using GSM Boosters should note that they can only do so in conjunction with licensed network operators,” it added.

 

 


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Tizeti Selects Nokia to Provide LTE Fixed Wireless Access Solution for High-Speed internet Services in Nigeria

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Tizeti announced that it selected Nokia’s Fastmile Long Term Evolution (LTE) technology to enable usprovide superior internet services to over 1 Million subscribers in Port Harcourt, Edo and Ogun in Nigeria.

Tizeti Selects Nokia to Provide LTE Fixed Wireless Access Solution for High-Speed internet Services in Nigeria

Tizeti will deploy Nokia’s AirScale Base Station TDD-LTE and FastmileFixed Wireless Access (FWA) gatewaysto deliver premium internet and Virtual Private Network (VPN) services to Residential, Small and Medium Enterprises (SMEs).

The solution will also enable Tizeti’sto deliver a more robust, high-speedinternet service to subscribers and the flexibility to seamlessly evolve to 5G Fixed Wireless Access when needed.

Nokia’s FWA solution enables Tizeti to fast-track broadband access and provide a best-in-class broadband experience to its subscribers.

Nokia’sAirScale Base Stations ensure high-quality connectivity and coverage and enablesTizeti to evolve the network in line with customer demand.

Nokia’sFastmilegateways connect wirelessly to the existing network to createa fastbroadband connection and enhanced Wi-Fi experience in the home.

The Nokia Network Services Platform will help Tizeti to simplify operations and quickly respond to changing market demands.

Kendall Ananyi, Tizeti, said:“We are committed to providing the best-in-class network experience to our subscribers. We are confident that Nokia’s proven technology and expertise will help us differentiate our services based on quality. This a crucial project for us as it introduces LTE in our networks and allows us to bring new and innovative services to our subscribers.”

Eniola Balogun, Nokia, said:“We are thrilled to work with Tizeti on the initiative to upgrade their network to bring the latest products and services to its subscribers. Nokia Fastmile will help Tizeti to cost-effectively enhance the customer experience.

The project will also enable them to delight their subscribers by providing more reliable data services.

On the other hand, Tizeti will benefit by adding new revenue streams.”

 

 


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Risk Assets Push Higher on Vaccine Hopes; Eyes on the Fed

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By Hussein Sayed, Chief Market Strategist at FXTM,

After two consecutive weeks of back-to-back declines, global stocks kicked off Monday with solid gains amid a surge in M&A activity and positive signs towards vaccine developments. Currency markets were little changed ahead of a busy week of monetary policy announcements, while Oil and Gold ticked slightly higher.

The two big deals announced over the weekend were Softbank’s plan to sell chipmaker ARM to Nvidia for more than $40 billion and Gilead Sciences to acquire Immunomedics for a price tag of $21 billion. Meanwhile, on the vaccine front, AstraZeneca resumed its phase-3 trial on Covid-19 after being suspended last week following a neurological illness developed in one participant, and Pfizer announced that its vaccine could be distributed before year-end if found safe and effective.

 

Central Banks will take centre stage this week with the Federal Reserve, Bank of England and Bank of Japan all due to announce policy decisions. Out of the three meetings, the Fed is likely to be the most watched following its historic shift towards average inflation targeting. The big question remains how will the FOMC put this policy into action?

 

From what we know now, the Fed is set up to keep interest rates near zero for a long time, possibly for several years. Given the new framework, any spike in inflation won’t translate into immediate rate hikes as the Fed wants to compensate for the lost years when they have failed to hit the target. The dot plot will be the key guide for investors and traders alike. If inflation projections remain at 2% or below for the foreseeable future, this will solidify market expectations for a low rate environment for many years to come. That said, Jay Powell would still have to explain in more detail how the new framework will be translated into policy action.

 

In June’s economic projections, the Fed anticipated unemployment would be at 9.3% by year-end, but, in August, unemployment was well below that forecast at 8.4%. Many other economic data surprised to the upside during the June – August period in a clear sign that most economists were overly pessimistic towards the strength of the recovery. However, there is still a considerable amount of uncertainty given the latest surge in Covid-19 cases worldwide and the US, especially as we get closer into the winter season. A second wave will undoubtedly put the recovery at risk in the final quarter of the year and it will be interesting to see the Fed’s view on that issue.

 

As for the market selloff over the past two weeks, the Fed isn’t likely to show any signs of concern. In fact, policymakers should be satisfied with the pullback as the risk of a bubble in several assets has been growing due to the Fed’s extremely accommodative policies. Unless we see another 10 -15% drop, do not expect the Fed to intervene.


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