Banking
Heritage Bank, CeLD Innovations Launch Cashtoken
By Modupe Gbadeyanka
A consumer electronic reward system called CashToken has been launched by Heritage Bank Plc in partnership with CeLD Innovations.
The product was launched at the Hyper Consumer Centricity conference held at the Lagos Continental Hotel, Victoria Island, Lagos with top 500 Nigerian CEOs in attendance.
The CashToken is an electronic reward and celebratory gift commodity, which costs only N30 and is aimed at making every patronage or celebratory gift a life-changing cash opportunity.
Speaking at the unveiling ceremony, Mr Jude Monye, Executive Director of Heritage Bank said CeLD is a very innovative organisation that is committed to bringing new innovation to the Nigeria’s economy to enable discerning companies to reward their customers.
“We are at Heritage Bank believe in it, because we believe in trail blazing, which is our forte and our forte is innovation,” Mr Monye said.
Chairman of the occasion, Mr Leo Stanley Ekeh, said innovation in the third world comes with pain before pleasure, adding that “we are in an innovation century that the poorest man in the world will become the richest because of the power of digitization.”
Mr Lai Labode, Founder & CEO of CeLD Innovations said the company is the world’s first cash reward as a service company which has established a robust technology and business model that herald a new era of hyper consumer centricity.
He said they are pioneering a performance based system designed to optimise consumer loyalty investments for businesses, celebratory gift value optimization and public emotional equity for government.
Mr Labode said about N20 billion would be offered in the next three years of full operation of the fund; which is managed by Vetiva Capital Management, Nigerian Stockbrokers Limited and First Ally Capital.
The platform runs on a ground breaking product called, the Cash Token which connects every patronage or reward in the nation’s economy to an opportunity for life-changing cash rewards every Friday night at the National CashToken draws monitored by Alexander Forbes and audited by Deloitte.
Each cash token offers a cash win opportunity of up to N100 million and guaranteed cash contribution for general and health insurance for the beneficiaries.
The objective of the company is to revolutionise the customer reward space by delivering the most consequential customer loyalty and celebration product.
Also speaking, Mr Wale Olokodana, Enterprise Commercial Lead, Microsoft Nigeria appreciated Mr Ekeh for helping to introduce Microsoft to the Nigerian economy, adding that this cash innovation will help to social problems in the insurance and health sectors.
He listed the barriers to innovation as power, skills as well as compliant and regulatory challenges; remarking that in order to overcome the challenges of power, cloud computing was introduced.
Banking
Applications Open for GTCO ‘Take on Squad’ Hackathon 3.0
By Dipo Olowookere
Tech enthusiasts interested in participating in the Take on Squad Hackathon, organised by Guaranty Trust Holding Company (GTCO) Plc, can now enter the contest via the official portal at https://squadco.com/hackathon.
The programme enters its third edition in 2026, and the theme for this year is Smart Systems: The Intelligent Economy, according to a statement issued by the organisers.
The hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors, including financial services, healthcare, commerce and digital inclusion.
Participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.
It is part of the organisation’s commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.
“Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve.
“Through Take on Squad Hackathon, we are deliberately investing in the ideas and talent that will define the future.
“Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact.
“This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress,” the Managing Director of HabariPay, Ms Eduofon Japhet, stated.
The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.
Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.
Banking
Easter: Ecobank Assures Customers Uninterrupted Banking Services
By Dipo Olowookere
Banking services will not be interrupted throughout the Easter public holidays, from Friday, April 3, to Monday, April 6, 2026, for any reason, Ecobank Nigeria has assured its customers.
In a message over the weekend, the member of Africa’s leading pan-African banking group, Ecobank Transnational Incorporated, said customers would continue to enjoy quality service delivery during the period.
It noted that its secure and robust digital platforms would remain fully operational to support financial activities during the festive period.
All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide, will remain accessible throughout the holiday, the financial institution further said, urging customers to conveniently conduct transactions at any time using this wide range of digital solutions.
Ecobank customers were encouraged to maximise the bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management.
They were also advised to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.
“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs,” the Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, Mr Victor Yalokwu, stated.
“We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are.
“Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” he added.
Mr Yalokwu noted that, “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”
Banking
Polaris Bank to Limit Access to VULTe for Four Days
By Dipo Olowookere
Customers may have difficulty accessing the digital platform of Polaris Bank, known as VULTe, during the Easter holidays from Friday, April 3, to Monday, April 6, 2026.
This is because the financial institution is carrying out system maintenance on the platform in its effort to ensure users enjoy a better banking experience.
In a notice over the weekend, the lender said “access to VULTe may be limited,” but it provided an alternative, which is the PolarisXperience.
Polaris Bank, which expressed regret over “any inconvenience” this action may cause its customers, said the “scheduled system maintenance” would happen from 10 pm to 8 am daily, promising that normal service would return after the maintenance.
“In continuation of our commitment to delivering a seamless and improved banking experience, we will be conducting a scheduled system maintenance during the Easter holidays.
“During this period, access to VULTe may be limited. We have provided an alternative channel, PolarisXperience:
“Please go to our website to onboard or use it as an existing user. You can also use this link: (https://elogin.polarisbanklimited.com).
“We regret any inconvenience and appreciate your understanding. Normal service will resume after the maintenance,” parts of the notice seen by Business Post read.
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