Banking
Our Digital Branches Will Improve Customers’ Productivity—Sogunle
At the official unveiling of Stanbic IBTC Bank’s digital branch at the Maryland Mall, Lagos, Deputy Managing Director, Stanbic IBTC Bank, Dr. Demola Sogunle, spoke on Stanbic IBTC Bank’s digital banking revolution and the bank’s growth strategy, among other issues. Excerpts:
Can you tell us about the new digital branch that was unveiled by Stanbic IBTC?
This is our very first fully digital branch and for us at Stanbic IBTC, this is the beginning of a new phase with regards to customer interface, the reach of our channels and access to products and services. For us in the banking industry, we believe that digital is here to stay as the future of banking, self-service environment.
What prompted the bank to embark on this initiative?
With over 80 million Nigerians are on the internet, we believe that we should be able to take value to them online whilst providing same to other Nigerians at our traditional channels. Our overarching objective is to empower the customer even further by providing him self-service options in the comfort of a branch, this means he is able to do all of his transactions with little human interaction.
What distinguishes this digital branch from any other e-branch?
It is a fully digital branch. It is an entirely paperless, self-service environment, which speaks completely, to the aspirations of the customer with a millennial mindset. So whatever you want to do, you can come into the branch, go to any of the points and you are able to pay, collect cash or make enquiries. Everything is available for you; there is very little interface with human beings. When it comes to access to internet products and services, people with millennial mindsets are very conversant with everything that has to do with self-service and internet access. We believe that we are helping the customer improve productivity through these digital branches.
No doubt the Stanbic IBTC digital branch strategy is one important way to reach the unbanked population. What other plans are in place to attract the unbanked population?
Yes it is, even though there are still over 90 million unbanked in the country, we know we have more Nigerians with SIM cards and mobile phones, which makes it easier and cheaper to reach them. What we are trying to do with mobile and internet banking is to make banking faster, more convenient and a lot easier for our clients in such a way that their banking experience is seamless. Our newly upgraded mobile app represents yet another avenue through which the unbanked can be reached. Using technology provides us with the opportunity to develop competitive products and services that will help bring the unbanked into the banking system. It is not cost effective to try to open branches in every part of the country. But the moment we deploy technology via internet and mobile banking, it becomes easier for customers, even those in places where we do not have a physical presence, to access financial products and services. It is very easy for us to do and we would continue to push the technology envelope to reach the unbanked population.
Economic challenges have negatively impacted the profitability of the financial services industry. The industry’s NPL portfolio has risen over the past three years while deposits are dropping. How has technology helped banks, Stanbic IBTC Bank specifically, to cope in this period?
Any serious business continues with a future market will have to take digitisation quite seriously. At Stanbic IBTC, we have long embraced digitalization to strengthen our operations and processes, make them more accessible, efficient and cost effective. Today’s customers demand faster services without compromising quality. With technology, the turnaround time for quality service delivery is constantly getting reduced and we are also able to bring down costs, which is very important if we must boost profitability. So, one of our coping mechanism is to fully embrace technology, which has helped us provide unmatched innovative solutions, like this digital branch, the Stanbic IBTC mobile app, our internet banking, among others. We also ensure we have a highly experienced and motivated workforce. As a result, we regularly exceed clients’ expectations. This has helped the business. If you check our nine months financial result to September 2016, we did well, in spite of the economic challenges.
In any case, there are and always will be challenges but those challenges present opportunities as well; The important thing is that as a bank we are always ready and prepared to weather the storm and come out in a stronger position. We are here to deliver services to our customers for the long haul and we are ready to go through all these challenges to fulfill our obligations and responsibilities to all stakeholders: customers, shareholders, staff members and the communities within which we operate.
Stanbic IBTC has a large customer base of multinationals, and currently there are foreign currency issues. How has the bank been coping with this?
Well we continue to try our best to satisfy our customers’ demand as much as possible to ensure their businesses do not suffer. We continue to explore genuine avenues to source for our forex. We tap into these avenues to provide forex for our clients whenever they need it. For instance, from our custody business, through Stanbic IBTC Nominee, we get forex inflows. Given the fact that we have the biggest custody business when it comes to custody business for foreign investors, we tend to see forex inflows. Our global market is also very strong in terms of trading forex and we have got our parent company, Standard Bank. We have had to combine these sources to ensure that we are able to continue to provide something that is very scarce but very important to many of our customers. We have got commitments and we are trying our best to continue to fulfill these commitments to our customers given the forex liquidity challenges.
You mobile app has been newly upgraded. Can you tell us a bit about it and the safety nets attached to this app?
It is a product co-created with the customer; our customers and other stakeholders contributed significantly in designing it, this way, we have ensured that the app fits the precise need of our customers and as every app, we will keep updating. A lot of thoughts also went into making this app well encrypted and safe to use. We have no doubt it is a fantastic product that we have put out there. Everyone who has used the app has commended it. The functionality of the app is impressive. You can do both banking and investment transactions on it.
Going forward, what should we expect from Stanbic IBTC?
Mobile and indeed e- banking is the future of banking; Stanbic IBTC is keen to be at the cutting edge of the customer service and technology is a major way to achieve this. We would therefore continue to innovate and improve our services and ensure this is made available to our customers where ever they are.
By Adedapo Adesanya
Top financial services provider in Nigeria, Stanbic IBTC, has reiterated its commitment to empowering businesses, strengthening key sectors and positioning Nigeria as a competitive player in the global economy.
This came on the back of the 2026 edition of the Nigeria Business Summit from Wednesday, April 1 to Thursday, April 2, 2026, at the Landmark Event Centre, Victoria Island, Lagos. The two-day summit brought together industry leaders, policymakers, entrepreneurs and stakeholders across multiple sectors to explore sustainable business practices, foster economic growth and unlock global trade opportunities.
With the theme, Nigeria Means Business: Powering Sectors, Growing Sustainable SMEs & Unlocking Global Trade, the summit addressed critical issues across key sectors, including agribusiness, renewable energy, trade and Africa–China banking, as well as ICT and telecommunications. Additional sessions covered areas such as family business sustainability, artificial intelligence, employee value banking, insurance, pension and wealth management.
The event featured a keynote address by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who emphasised the urgent need for Nigeria to reposition itself as a leading export-driven economy to achieve sustained growth.
“Our true potential lies in becoming a leading export economy,” Edun stated. “Increased participation in regional and global trade will be critical to diversifying foreign exchange earnings and driving inclusive growth.”
He noted that while Nigeria’s GDP growth has improved to approximately 4 per cent, it remains below the level required to significantly reduce poverty. According to him, the country’s economic strategy is now shifting from stabilisation to growth acceleration, with trade expansion playing a central role.
Mr Edun highlighted ongoing reforms, including improved foreign reserves, rising non-oil revenues and renewed investor confidence, as indicators of a more resilient economy. However, he stressed that enhancing trade competitiveness would require continued investment in infrastructure, logistics and policy coordination.
He also highlighted the importance of small and medium-sized enterprises (SMEs), which account for over 90 per cent of businesses, noting that inclusive growth will depend on stronger collaboration between the public and private sectors.
Participants engaged in a rich line-up of activities, including expert presentations, panel discussions and high-level networking opportunities. Highlights of the summit included the Africa Trade Barometer presentation, client testimonial showcases and insightful discussions on the state of the African economy and intra-African trade opportunities.
Breakout sessions on agribusiness, ICT and healthcare, Africa-China banking and trade, as well as renewable energy, provided attendees with deeper, practical insights into some of the most critical sectors driving Nigeria’s economic future.
Speaking at the event, Mr Chuma Nwokocha, chief executive of Stanbic IBTC Holdings, represented by the organisation’s Chief Finance and Value Management Officer, Mr Kunle Adedeji, emphasised the importance of collaboration and innovation in driving sustainable growth.
“This summit has reinforced the importance of creating platforms where ideas can flourish, and businesses can grow sustainably. By working together, we can unlock new opportunities and drive economic advancement across Nigeria and the African continent,” he said.
The summit also spotlighted practical strategies for integrating sustainability into business operations, encouraging organisations to adopt environmentally conscious practices while maintaining profitability and competitiveness.
Mr Remy Osuagwu, Executive Director, Business & Commercial Banking, expressed satisfaction at the level of interest from participants, a critical element for a successful summit.
“From our conversations on energy and healthcare to the deep dives into trade, Africa-China relations, and agribusiness, Day 1 has offered perspectives that were both insightful and practical. I believe we’re all leaving with a stronger understanding of the opportunities emerging across our industries,” he said.
He acknowledged the level of engagement, questions, contributions and willingness of participants to share experiences, describing this as the real power of the Nigeria Business Summit, and a solid foundation for tomorrow.
The Chief Executive of Stanbic IBTC Bank, Mr Wole Adeniyi, who was represented by Mrs Bunmi Dayo-Olagunju, Deputy Chief Executive of Stanbic IBTC Bank, opened Day Two of the Nigeria Business Summit by highlighting the focus of the summit’s SME Day.
“Today, we build on Day One’s momentum with conversations that are equally critical for the future – from the dynamics of family businesses to the growing influence of artificial intelligence; the evolution of insurance, and the emerging space of electric vehicle banking.”
She further added, “Our goal on Day Two is simple: to explore what’s next. To understand how these developments will shape our businesses and how we can position ourselves ahead of the curve.”
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.
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.”
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn