Banking
Access Bank, Others Empower Female Business Owners
By Dipo Olowookere
Over 500 female entrepreneurs from across the country have undergone training programmes aimed to scale up their skills on how to leverage digital platforms to drive growth in their businesses.
The initiative, which kicked off last month, has held in Abuja, Lagos, Enugu and Ibadan with over 500 female business owners in attendance.
It was put together by Access Bank in partnership with She Leads Africa under the Facebook Program called #SheMeansBusiness.
The second phase of the Access Bank, Facebook and She Leads Africa training will continue in Abeokuta on Wednesday, July 17, Jos, July 23, and Benin, July 26, 2019.
Addressing newsmen in Abuja during the start of the training series, Executive Director, Retail banking, Access Bank Plc, Victor Etuokwu, said “As one of the fastest growing retail banks in the country, Access Bank is always at the forefront of leveraging technology to drive emerging businesses.
“The idea behind this partnership and empowerment programme is to give our SME customers an opportunity to expand their access to market and increase their visibility to potential customers.
“There are over two billion people on Facebook globally and over 65 billion WhatsApp messages exchanged globally on a daily basis. With the right knowledge, our customers can showcase their products to large audiences as well as get leads that will take their businesses forward.”
Etuokwu further said “We intend to actualise our promise as the largest retail bank in Africa to provide not just financial services but also non-financial services which we provide knowing that when our customers succeed it will trickle down to us.”
During an interview with Chigozie Onyeocha, the Regional and Sales Director of Lagos Mainland at Access Bank, it was learnt that the bank has strong interest in Small and medium-sized enterprises (SMEs). According to Onyeocha, Access Bank believes that if SMEs are well supported, the country’s economy will benefit in return.
“We have millions of SME businesses in Nigeria in this category, employing over 60 million Nigerians presently, for us, we believe if we support the SME sector right, we will have a better economy.” He further disclosed that the programme was initiated because of the bank’s belief that women are better managers.
“Women are better managers, and if we engage them well and provide them with the necessary materials and opportunities to grow their businesses, it will help our mission, which is to boost the nation’s economy.”
“We actually have a division in the bank that caters to women, and we have opportunities that we expose our female customers to. We have loan facilities for women at a low-interest rate, encouraging them to do their businesses right. Our goal is to have more empowered women which we believe will deliver a better economy,” Onyeocha concluded.
She Leads Africa’s Digital Marketing Trainer, Adeyemi Adedayo, said the programme is specifically designed for women to upscale and boost their businesses, and focuses on how to use Facebook’s family apps, including Messenger, WhatsApp and Instagram.
Adedayo stressed that feedback from the business owners engaged so far has been tremendous. “We have since recorded remarkable growth in engaging these women and the results derived from these engagements have been very remarkable. The women have responded well so far, and it is encouraging for the trainers,” he said.
While Adedayo stated the initiative has birthed futuristic businesses that will thrive the economy, he lauded Access Bank Plc for keying into the objective of Facebook’s human empowerment.
“Access Bank has been great in this collective responsibility with She Leads Africa and Facebook to empower in order to have a robust economy.”
One of the participants, Bolanle Alabi, CEO, Easy Flight Travels in Lagos, said, “I have learnt how to market products online by locating my audience and giving them direct information. Sometimes when you go on Facebook, you do not give the specific details to be able to attract the required audience, I have learnt how to restructure and how to create the right profile.”
To register and know more about the Diamond Business account, please click HERE.
By Adedapo Adesanya
A Nigerian digital lending fintech, Allawee, has collaborated with Mastercard to launch a credit-building card designed to enhance financial access for federal civil servants and National Youth Service Corps (NYSC) members.
This product, facilitated by a secure Mastercard platform and issued in collaboration with Providus Bank, and Remita, provides instant access to credit and financial flexibility to over 720,000 federal civil servants and NYSC members all through the Allawee app.
Despite Nigeria’s significant economic potential, over 70 per cent of bank account holders lack access to credit, according to the National Bureau of Statistics (NBS).
The Allawee credit card promises to address this gap, offering a solution that caters to the unique financial needs of Nigerians.
Nigeria as a market is dominated by debit and prepaid cards, so this initiative aims to promote responsible credit usage, combines seamless digital onboarding, user-friendly features, and responsible credit management tools in one platform.
Launched in December 2024, the Allawee credit card supports the Nigerian government’s objective of increasing credit availability to 50 per cent of working Nigerians by 2030. The card offers a secure and seamless way to access credit while helping users build a credit profile, aligning with Mastercard’s mission to drive financial inclusion.
“We are thrilled to collaborate with Allawee on this innovative credit solution, which aligns perfectly with Mastercard’s commitment to bring one billion people into the digital economy by 2025.
“The Allawee credit card provides instant access to credit while also empowering civil servants and NYSC members in Nigerian to build their creditworthiness, further advancing financial inclusion across the country,” said Mrs Folasade Femi-Lawal, Country Manager and Area Business Head for West Africa at Mastercard.
Users can download the Allawee credit card, apply for a loan, receive approval, and start transacting immediately. Once approved, the credit is disbursed directly onto a co-branded card, giving users full control over their funds. The card allows for flexible usage across POS terminals, ATMs, and online transactions, enabling greater financial freedom.
“We launched this card to help Nigerians gain access to instant, affordable credit while building their credit history. Whether it’s handling daily purchases or taking care of life’s emergencies, our customers now have an easy way to cover expenses.
“With Mastercard, we are giving them the convenience to spend their credit at millions of retail locations in Nigeria and around the world, both online and in-store,” said Mr Ikenna Enenwali, CEO of Allawee.
The Allawee credit card offers instant credit access through a fast, secure, and fully digital application process, with wide acceptance at Mastercard online and physical retail locations globally. Customers benefit from flexible repayment options, choosing their credit limits (up to ₦1,000,000) and repaying in installments over four months.
By Adedapo Adesanya
The Nigerian Communications Commission (NCC) has authorised telecommunications companies to disconnect the Unstructured Supplementary Service Data (USSD) codes assigned to nine financial institutions over a N200 billion debt.
The directive signed by NCC’s Director of Public Affairs, Mr Reuben Muoka, on Tuesday and obtained by Channels Television, noted that the affected banks are to pay the outstanding debts by January 27, 2025, or risk losing access to their USSD codes.
According to the NCC public notice, nine out of 18 financial institutions had not complied with regulatory directives.
The affected financial institutions include Fidelity Bank Plc, First City Monument Bank, Jaiz Bank Plc, Polaris Bank Limited, Sterling Bank Limited, United Bank for Africa Plc, Unity Bank Plc, Wema Bank Plc, and Zenith Bank Plc.
It said while other banks have cleared their debts, the total amount initially owed by the financial institutions was reported to exceed N200 billion.
According to the NCC, some of the invoices have remained unpaid since 2020, and has been a source of tussle for years.
“By the information made available to the commission as at close of business on Tuesday, 14th January 2025, of a total of 18 financial institutions, the nine institutions listed below have failed to comply significantly with the directives in the Second Joint Circular of the Central Bank of Nigeria and the commission dated December 20, 2024, for the settlement of outstanding invoices due to MNOS, some since 2020,” a part of the notice read.
The affected USSD codes include *770#, *919#, and *822#, among others, could be reassigned to other applicants if the debts remain unresolved.
The regulator noted that banks’ failure to comply with the CBN-NCC joint circular also means that they are unable to meet the good standing requirements for the renewal of the USSD codes assigned to them by the commission.
It added, “In fulfilment of its consumer protection mandate, the commission wishes to inform consumers that they may be unable to access the USSD platform of the affected financial institutions from January 27, 2025.”
The NCC emphasised that the financial institutions had been duly notified of the need for immediate compliance and warned that consumers may face service disruptions if the issues remain unresolved.
By Adedapo Adesanya
The Nigerian Communications Commission (NCC) has authorised telecommunications companies to disconnect the Unstructured Supplementary Service Data (USSD) codes assigned to nine financial institutions over a N200 billion debt.
The directive signed by NCC’s Director of Public Affairs, Mr Reuben Muoka, on Tuesday and obtained by Channels Television, noted that the affected banks are to pay the outstanding debts by January 27, 2025, or risk losing access to their USSD codes.
According to the NCC public notice, nine out of 18 financial institutions had not complied with regulatory directives.
The affected financial institutions include Fidelity Bank Plc, First City Monument Bank, Jaiz Bank Plc, Polaris Bank Limited, Sterling Bank Limited, United Bank for Africa Plc, Unity Bank Plc, Wema Bank Plc, and Zenith Bank Plc.
It said while other banks have cleared their debts, the total amount initially owed by the financial institutions was reported to exceed N200 billion.
According to the NCC, some of the invoices have remained unpaid since 2020, and has been a source of tussle for years.
“By the information made available to the commission as at close of business on Tuesday, 14th January 2025, of a total of 18 financial institutions, the nine institutions listed below have failed to comply significantly with the directives in the Second Joint Circular of the Central Bank of Nigeria and the commission dated December 20, 2024, for the settlement of outstanding invoices due to MNOS, some since 2020,” a part of the notice read.
The affected USSD codes include *770#, *919#, and *822#, among others, could be reassigned to other applicants if the debts remain unresolved.
The regulator noted that banks’ failure to comply with the CBN-NCC joint circular also means that they are unable to meet the good standing requirements for the renewal of the USSD codes assigned to them by the commission.
It added, “In fulfilment of its consumer protection mandate, the commission wishes to inform consumers that they may be unable to access the USSD platform of the affected financial institutions from January 27, 2025.”
The NCC emphasised that the financial institutions had been duly notified of the need for immediate compliance and warned that consumers may face service disruptions if the issues remain unresolved.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN