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Yomi-Ajayi, UBA USA CEO Appointed to US EXIM’s Sub-Saharan Africa Advisory Committee

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Sola Yomi-Ajayi, the CEO of the United Bank for Africa (UBA)’s operations in the United States, has been appointed to the Export-Import Bank of the United States (US EXIM) Committee on Sub-Saharan Africa for 2020/2021.

Yomi-Ajayi, UBA USA CEO Appointed to US EXIM’s Sub-Saharan Africa Advisory Committee

Sola Yomi-Ajayi

Established by the US Congress, the Sub-Saharan Africa Advisory Committee provides guidance and advice regarding US EXIM policies and programmes designed to support the expansion of financing for US manufactured goods and services in Sub-Saharan Africa.

The committee is composed of prominent members of the US business community and Ms. Yomi-Ajayi is the sole representative of an African institution.  UBA USA is the only Sub-Saharan African deposit-taking institution regulated in the United States and provides a unique portfolio of banking solutions to corporates, governments, multilaterals, and development organisations transacting with Africa.

UBA USA can assist in trade finance, treasury, foreign exchange, transaction management and lending, drawing on UBA’s seventy-year heritage and unique pan-African network.

Tony O. Elumelu, chairman, UBA’s Group, stated that the appointment is recognition of the role UBA has played over decades in promoting and supporting large and small businesses in all its 20 countries of operations in Africa.

“The appointment of Sola, as a member of the US EXIM Advisory Committee for Sub-Saharan Africa is welcome news.  UBA’s global network of offices in New York, London and Paris, permits us to be the preferred financial intermediary between Africa and the rest of the world.  Our mission at UBA is fully aligned with the objectives of the US EXIM’.

Kimberly A. Reed, EXIM president and Chairman, who congratulated Yomi-Ajayi and the other appointees said, “With six of the 10 fastest-growing economies in the world and more than one billion consumers, Africa is poised to play a pivotal role in the global economy.  Supporting US exports to sub-Saharan Africa is one of our top priorities at EXIM, and my deepest congratulations goes to the new members of the EXIM Sub-Saharan Africa Advisory Committee”.

Others appointed into the committee are Daniel Runde, who chairs the committee, C. Derek Campbell, Chief Executive Officer, Energy and Natural Resource Security, Inc; Scott Eisner, Senior Vice President, African Affairs, U.S. Chamber of Commerce; Rebecca Enonchong, Founder and Chief Executive Officer AppsTech; Lori Helmers, Executive Director/Americas Export Finance Head, JPMorgan Chase Bank; Florizelle Liser, President and Chief Executive Officer, Corporate Council on Africa; Mima Nedelcovych, Chairman, AfricaGlobal Schaffer; EE Okpa, Principal, The OKPA Co; Marise Duff Stewart, Director Customer and Industry Relations, Progress Rail, a Caterpillar Company and Paul Sullivan, President – International Business, Acrow Bridge.

EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers.

United Bank for Africa Plc is a leading Pan-African financial institution, offering banking services to more than twenty-one million customers, across over 1,000 business offices and customer touch points, in 20 African countries.

With banking operations in the United States of America, the United Kingdom and presence in France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.

 


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E-Financial

MoneyMaster PSB Marks 2024 Global Money Week

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MoneyMaster Payment Service Bank Limited (MMPSB), Nigeria’s payment service bank, is joining blue chip companies and other corporate entities across the globe to celebrate the 2024 Global Money Week from March 18 to 24, 2024.

In a press statement issued on the celebration, MMPSB emphasized  its commitment to the provision of top-notch banking services to its customers at all times, including payment services through wallets, savings, individual and business accounts, as well as provision of a platform for customers to buy airtime/data, pay bills and subscribe to cable television, amongst others.

MMPSB said its plans for the week include a “Catch them Young” experiential campaign to tutor kids on the need to embrace savings and investment culture. An estimated 5,000 students from across major schools in Nigeria have been programmed to participate in the week-long financial literacy training in the bank’s coordinating centres across 10 states.

Besides this, the MoneyMaster team will also engage teachers and enlighten them on basic knowledge of savings and investment for future purposes.

The bank added, “As part of the week-long celebration, MoneyMaster PSB will also be releasing thought leadership videos on safety and security on how banking customers can protect themselves. These videos will be shared to its customers via direct email and also on its social media handles for the benefit of the general public”.

The week, celebrated annually, creates global awareness-raising campaign on the importance of ensuring that young people, from an early age, are financially aware, and are gradually acquiring the knowledge, skills, attitudes and behaviour necessary to make sound financial decisions and ultimately achieve financial well-being.

“Protect your money, secure your future”, the theme for this year’s celebration,  is focused on safe money management, underscoring  the importance of adopting a responsible and informed approach to personal finance, by being aware of potential risks in the financial sector and protecting one’s hard-earned money.


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Moniepoint Emerges Lead Sponsor of Payments Forum Nigeria – PAFON 1.0

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Moniepoint Inc. a global digital financial services provider with operations in Nigeria and an ongoing expansion into other emerging markets, has emerged the lead sponsor of the maiden edition of Payments Forum Nigeria (PAFON 1.0).

Payments Forum Nigeria [PAFON] is an event focused on providing inside-look at the payment industry in the country, offering perspectives from key stakeholders, including payment networks, technology innovators, leading merchants, issuers, acquirers and payment processors.

The Forum is scheduled to take place this Thursday, March 21, 2024 at the Oriental Hotel, Lekki Road, Lagos by 9am-12noon, under the theme: “Payments: Trust, Security and Privacy in AI Era”.

Register here: https://bit.ly/4c4N19H

Moniepoint Inc., founded with the vision to create a society where everyone experiences financial happiness, joins other sponsors of the event: Digital Encode Limited (a leading consulting and integration that specializes in the design, management, and security of business-critical architecture); Cybervergent (a company dedicated to helping protect business sensitive data from cyber-attacks, including customer information, financial records and intellectual property); Payble (a fintech startup that modernises local government payments such as creating citizen-centric payment experiences, delivering flexible billing and simplified rate collection, and Inlaks, an IT company that offers core banking, fraud management, cybersecurity, cloud, data center, enterprise risk management, amongst other industry players.

Moniepoint Inc is the parent company of TeamApt Limited, a Central Bank of Nigeria (CBN) licensed Switch and Processor, and Moniepoint Microfinance Bank, a CBN-licensed Microfinance Bank, and operates the largest distribution network for financial services in Nigeria through its subsidiaries, and has been awarded by the CBN in 2022 as the most inclusive payment platform in the country.

Over 70 million people use their cards on Moniepoint’s POS terminals monthly across every local government in Nigeria.

Led by its Group CEO, Tosin Eniolorunda, Moniepoint Inc.’s technology has powered businesses, offering all the payment, banking, credit and business management tools they need to succeed. It aims to power the dreams of businesses, their employees and customers by providing them with the financial technology tools they need to grow, no matter their digital literacy level.

Moniepoint Inc. currently processes the majority of the POS transactions in Nigeria through its subsidiaries, processing over $182 billion in TPV. It is Africa’s largest Fintech by transaction volume. It is profitable and, in 2022, became QED Investors’ first investment into Africa.

Moniepoint Inc was recently named as the Fintech Company of the Year by the Leadership Newspapers Group.

Speakers:

Meanwhile, speakers lined for PAFON 1.0 are: Chibuzo Efobi, Director, Payments System Management, Central Bank of Nigeria (CBN); Festus Amede, Chairman, Committee of Chief Information Security Officers of Nigerian Financial institutions (CCISONFI); Dr. Adewale Peter Obadare, Chief Visionary Officer (CVO), Digital Encode Limited; Adetokunbo Omotosho, Chief Executive Officer, Cybervergent; Roosevelt Elias, Founder, Payble; Ikenna Ndugbu, Chief Compliance Officer, Moniepoint MFB, and others.

Participation:

Participation is FREE, however, pre-registration is required: https://bit.ly/4c4N19H


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BVN Registration Hits 61.16m

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Nigeria Inter-Bank Settlement System has said the registration for the Bank Verification Number (BVN) has now increased to 61.16 million, according to Vanguard report.

NIBSS disclosed this on its website on Saturday, adding that the BVN is 61,166,384 as of Friday, March 15, 2024.

Earlier in the year, the agency had reported that as of January 26, the BVN count stood at 59.9 million.

This indicates that there have been 674,280 new registrations for BVN between late January and mid-March.

The need for Nigerians to register their BVN arose following the demands by banks and telecommunication companies asking people to link their accounts and phone numbers with SIM.

Majority of Nigerians have let out their frustrations at some point when the linking of BVN with accounts were not successful.


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