Banking
800 Customers to Get Cash Prizes in Ecobank Super Rewards Promo
By Modupe Gbadeyanka
Season two of Ecobank Super Rewards promo has commenced and 50 customers of the bank will get cash prizes every week, a statement from the lender has said.
It was disclosed that the campaign was brought back due to popular demand from customers, who said they were impressed with the excitement generated in season one.
According to Ecobank Nigeria, the campaign will run for four months between October 2021 and January 2022 and will produce 800 winners who will get N25,000 weekly.
In addition, four millionaires will emerge in each of the four delineated regions of Lagos, Federal Capital Territory (FCT)/North, Mid-west/South West and South-South/South East regions. The millionaire winners will be announced at the end of the campaign.
Participation is open to both new and existing individual customers of the bank, both current and savings accounts holders.
The Head of Consumer Products at Ecobank Nigeria, Ms Daberechi Effiong, explained that the conditions to qualify for the scheme are simple and easy to ensure both new and existing customers participate and get rewarded.
According to her, new customers are expected to open an account, savings or a current account with a minimum of N5,000 and maintain the deposit for a 30-day period; the same she noted applies to existing customers, who only need to fund their active account with a minimum of N5,000 or reactivate their dormant account with a minimum of N5,000 and maintain the deposit for a 30-day period.
“In addition, eligible customers are expected to carry out at least one transaction via any of the bank’s digital channels like the Ecomobile App, or the *326# USSD service.”
Other conditions she noted are listed on the Ecobank’s website, stressing that customers can withdraw funds from their account during the campaign period but will only be qualified for the reward when they maintain at least a balance of N5,000 in their account.
“The winners will be announced every week on our social media platforms: Facebook – @EcobankNGR, Instagram – @ecobank_nigeria. We will also send congratulatory SMS/Emails to the winners, including how the rewards will be paid.
“You can send an email to our support team [email protected] or reach out to our 24/7 contact centre on 0700 500 0000, 01 270 1323, 0708 065 3700, Email: [email protected], Facebook: @EcobankNGR, Twitter & Instagram: @ecobank_nigeria,” she said.
On her part, the Head of Consumer Banking at Ecobank Nigeria, Mrs Korede Demola-Adeniyi, stated that, “This is the perfect time to open an Ecobank account or reactivate and fund a dormant account to qualify for the reward and enjoy a first-rate banking experience.”
She further said, “50 customers with the highest deposit will be rewarded with N25,000 every week. And four customers with the highest deposit and transaction value within the campaign duration will be rewarded with N1 million each.”
“As a bank, we are impressed with the level of excitement generated and customers’ participation in the first campaign. We want to ensure more of our loyal customers are rewarded. We believe this is cheery news for both existing and prospective customers. Let me use this opportunity to reassure everyone that Ecobank remains committed to maintaining its industry leadership in rewarding its customers.
“I encourage those that are yet to open an account with the bank to do so now in order to experience the ultimate banking convenience made possible by our state-of-the-art digital platforms and our numerous products and services with great benefits,” Mrs Demola-Adeniyi added.
By Modupe Gbadeyanka
The six edition of the Hackaholics of Wema Bank Plc has produced 20 top finalists shared equally between two streams, Ideathon and Hackathon.
The Hackathon finalists are Rapid DEV, Secure IT, Neurafeed, Trust Lock Babcock, Pulse Track, IlluminiTrust, Trust Lock FUTA, Fix Fraud AI, KASH Flow and VOC AI.
The Ideathon finalists include PLOY, Fertitude, VarsityScape, Mama ALERT, StockMed, Chao, All Arbitrate, FarmSlate, Sane AI and Cycle X.
They emerged after a two-day pre-pitch held on December 16 and 17, 2025, for the grand finale slated for Friday, December 19, 2025.
They grand finale of Hackaholics 6.0 will convene the top players in Africa’s tech and innovation ecosystem, creating an avenue for these finalists to not only put their creativity to the ultimate test but also give their solutions visibility to potential investors for additional funding opportunities beyond the prizes to be won.
The prizes to be won for the Ideathon include N25 million for the winner, N20 million for the first runner-up, N15 million for the second runner-up and N5 million each for two women-led teams.
In the Hackathon category, the first to fourth-place winners will receive N20 million, N15 million, N10 million and N5 million, respectively.
The pre-pitch saw the top 43 contenders battle in a game of innovation and problem solving, presenting compelling pitches for a chance to make it to top 10 in their respective streams.
After a rigorous stretch of pitches and presentations, the top 20 emerged, securing their spot in the grand finale of Hackaholics 6.0.
“Hackaholics started off as a hackathon and morphed into an ideation. For Hackaholics 6.0, the sixth edition, we decided to give both the builders of new solutions and the refiners of existing ones, an opportunity to make meaningful impact.
“For us at Wema Bank, we understand that innovation isn’t just building from scratch. Sometimes, it’s looking at what exists and developing new ways to optimise that and create more efficiency. This is the idea behind our two-stream Ideathon-Hackathon structure.
“Every year, Hackaholics shows us just how eager and motivated Nigerian youth are when it comes to exploring creativity and innovation, and we are honoured to be the institution that provides them with the platform and resources to put this drive to good use.
“We toured seven cities, indulged 1,460 participants and discovered hundreds of remarkable ideas; some of which needed some refining and some of which deserved to move to the next stage.
“For those who needed to go back to the drawing board, we provided useful guidance and for the top contenders, we were able to shortlist to the top 43, who proceeded to the pre-pitch. To every participant, Wema Bank is proud of you. This is just the beginning,” the chief executive of Wema Bank, Mr Moruf Oseni, said.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) says it will enforce penalties against designated banks that delay the remittance of customs revenue, in a move aimed at strengthening transparency and safeguarding government earnings.
This was disclosed in a statement on the NCS official account on X, formerly known as Twitter and signed by its spokesman, Mr Abdullahi Maiwada, who said the delays undermine the efficiency, transparency, and integrity of government revenue administration.
“The Nigeria Customs Service has noted instances of delayed remittance of customs revenue by some designated banks following reconciliation of collections processed through the B’odogwu platform,” the statement read.
“Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration.
“In line with the provisions of the Service Level Agreement executed between the Nigeria Customs Service and designated banks, the Service hereby notifies stakeholders of the commencement of enforcement actions against banks found to be in default of agreed remittance timelines.”
Mr Maiwada disclosed that any bank that fails to remit collected Customs revenue within the prescribed timeline will be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the period of the delay.
He added that affected banks would be formally notified of the delayed amounts, the applicable penalty, and the deadline for settlement.
“Accordingly, any designated bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay.
“Affected banks will receive formal notifications indicating the delayed amount, applicable penalty, and the timeline for settlement,” the statement read.
By Aduragbemi Omiyale
The deputy managing director of First Bank of Nigeria (FBN) Limited, Mr Ini Ebong, has offloaded some shares of FBN Holdings Plc, the parent firm of the banking institution.
A regulatory notice from the Nigerian Exchange (NGX) Limited confirmed the development on Thursday.
It was disclosed that the transaction occurred on Friday, December 12, 2025, on the floor of the stock exchange.
The sale involved about 11.8 million shares, precisely 11,783,333 units traded at N31.14 per share, amounting to about N366.9 million.
Mr Ebong, who studied Architecture from University of Ife and obtained Bachelor and Master of Science degrees, became the DMD of First Bank in June 2024. Prior to this appointment, he was Executive Director, Treasury and International Banking since January 2022.
He was previously the Group Executive, Treasury and International Banking, a position he held since 2016 after serving as the bank’s Treasurer from 2011 to 2016.
Before joining First Bank, he was the Head of African Fixed Income and Local Markets Trading, Renaissance Securities Nigeria Limited, the Nigerian registered subsidiary of Renaissance Capital. He also worked with Citigroup for 14 years as Country Treasurer and Sales and Trading Business Head.
He has a passion for market development and has worked actively to drive change and internationalisation of the Nigerian financial markets: foreign exchange, fixed income and securities.
He has worked closely with regulatory bodies such as the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) in assisting with the development of fresh monetary and foreign exchange policies, to broaden and deepen markets and open them up to international practices.
At various times he has facilitated and delivered courses and seminars on a wide variety of subjects covering Money Markets, Securities and Foreign exchange trading and market risk management subjects to regulators, corporate customers, banks and market participants.
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