Banking
Ecobank MD/CEO Assures Customers Quality Service Delivery
By Dipo Olowookere
Customers of Ecobank Nigeria have been assured of enjoying excellent services especially in the era of the new Managing Director/CEO of the lender, Mr Patrick Akinwuntan.
Speaking at the flagging off the 2018 Customer Service Week at the Ikorodu branch of the bank on Tuesday, Mr Akinwuntan noted that the company will continue to ensure that the needs and aspirations of customers are met at all times.
The bank chief described the 2018 Customer Service Week as a huge opportunity to say thank you and to celebrate customers of the bank.
“This is another moment to celebrate you. We will always celebrate you. You are the reason why we are in business.
“Excellent customer service is a vital part of our promise as a bank. For us, this is more than just providing answers. It’s helping customers even when they don’t know they need help. It’s teaching them how to do more with our products. It starts with a smile and a friendly word, and finishes with sharing our expertise, even when it has nothing at all to do with our products.
“We are committed to bringing you superior customer service, whenever, wherever, and however you need it. Thank you for choosing Ecobank,” he said.
Mr Akinwuntan, who was a ‘Bank Teller’ at the Ikorodu Branch, used the opportunity to showcase some of the digital and innovative self-service options offered by Ecobank.
“We have Ecobankmobile app, and it is only one app for all the affiliates of the group including Nigeria.
“When you are within the app, you can switch from one country to the other, you can do transfers from one country to the other, instantly, seamlessly, real-time.
“On the app, you can also open an instant account, which we call Xpress account within 5 minutes, without having to go physically to the bank.
“Also on the app, you can pay for your electricity bills, school fees, membership fees for major associations, insurance premiums, DSTV, but more importantly, you can also generate a token, which we call Xpress Cash, and you can take that code to any Ecobank ATM and withdraw cash.
“It is very convenient and we have more than 8 million onboarded users on Ecobankmobile across Africa including 1.5 million of these users in Nigeria,” he noted.
Furthermore, the bank Managing Director said “we also offer on the app what we call EcobankPay. This is a multi-featured digital payment solution, designed to deliver unified and instant payment across a range of interconnected QR platforms (Masterpass QR, mVISA and mCash). EcobankPay can be used by all businesses from small informal micro merchants to large corporates as well as governments, allowing them to offer easy and convenient payment options to their customers in-store or online.
“From Ecobankpay, you scan the code with your phone camera and make your payment. You can do this in any location with a Masterpass or mVISA QR code.
“Also on the app, there is the VISA Direct, which is a P to P functionality. This is the ability to use a VISA card to send money to another VISA card. When you have a VISA card and you have your account with a bank that is not Ecobank. You can, on our app, transfer money from your VISA card to another VISA card,” he said.
The Customer Service Week is a global event established by the International Customer Service Association.
It is a weeklong activity from October 1 to 5, 2018 dedicated to raising awareness on customer service and the vital role it plays in successful business practices. The chosen theme for this year is “Excellence happens here”. Ecobank has announced that management staff across the bank will be available to serve customers as tellers during the week to commemorate the Customer Service Week 2018.
By Modupe Gbadeyanka
About N3.6 trillion has been repaid to the Central Bank of Nigeria (CBN) by the Asset Management Corporation of Nigeria (AMCON) since its inception in 2010.
This information was revealed by the chief executive of AMCON, Mr Gbenga Alade, during a media parley to update the press on the activities of the agency.
Mr Alade said at the moment, the organisation still owes the central bank about N3 trillion for toxic assets of banks in the country.
He praised the organisation for its asset recovery drive, stressing that when compared with others across the world, Nigeria has done well.
“It is important to stress that the corporation has done tremendously well, especially when compared to other notable government-owned Asset Management Corporations around the world.
“Based on the balance at purchase, AMCON outperformed other Asset Management Corporations all over the world by achieving over 87 per cent in recoveries despite the unique challenges associated with debt recovery in Nigeria.
“The Malaysian Danaharta, which is adjudged one of the best performing Asset Management Corporation’s, only achieved 58 per cent. The Chinese Asset Management Corporation, despite its stricter laws, achieved just 33 per cent.
“Only the Korean Asset Management Corporation (KAMCO), South Korea, has achieved more recoveries than AMCON, with about 100 per cent. This was due to their brute force with which they chased the obligors.
“Despite KAMCO’s recovery records, the agency is still operational to date with slight realignments in its mandate.
“Other noted Asset Management Corporations that have transitioned into a perpetual institution of the various governments include, China Asset Management Company, Federal Deposit Insurance Corporation (FDIC) USA, and KFW Germany.
“So, gentlemen, without sounding immodest, AMCON has done well, and we will not relent until all the outstanding debts are fully realized,” Mr Alade stated.
On the financial performance of AMCON, he said last year, the firm posted a revenue of N156.25 billion and operating expenses of N29.04 billion, while for the 2025 fiscal year should be a revenue of N215.15 billion and operating expenses of N29.06 billion.
By Modupe Gbadeyanka
One of the non-interest banks in Nigeria, The Alternative Bank (AltBank), has opened a new branch in Effurun, Delta State.
The new office will serve the Edo-Delta region and provide purposeful banking and real financial empowerment for individuals, entrepreneurs, and businesses, a statement from the firm stated.
The lender disclosed that the Effurun branch is a bold move in its mission to reshape banking in Nigeria.
The launch was graced by key dignitaries, including the Ovie of Uvwie Kingdom, Emmanuel Ekemejewa Sideso Abe I; the Chairman of Uvwie Local Government, Anthony O. Ofoni, represented his vice, Andrew Agagbo; and the Special Adviser to the Governor of Delta State on Community Development, Mr Ernest Airoboyi; amongst others.
The Divisional Head for South at The Alternative Bank, Mr Chukwuemeka Agada, emphasised the institution’s commitment to Warri and its surrounding communities.
“By establishing a presence here, we are initiating a transformation in the way banking serves the people of Delta. Our purpose-driven approach ensures that customers’ financial goals are not just met but exceeded,” he stated.
“This branch represents our pledge to empower Warri’s dynamic businesses and families, providing them with the tools to grow without compromise,” Mr Agada added.
“We understand the heartbeat of this community, and we are excited to integrate our bank into the fabric of this dynamic region,” he stated further.
On his part, the representative of the Ovie, Mr Samuel Eshenake, challenged the bank to facilitate development and employment within the Effurun community.
The Regional Head for Edo/Delta at The Alternative Bank, Mr Akanni Owolabi, embraced this challenge, pledging that the bank will work sustainably to drive local commerce.
“At The Alternative Bank, we are committed to being an active partner in the development of Effurun. We see this branch as a catalyst for creating opportunities, driving employment, and supporting the growth of local businesses.
“Our mission is to empower this community, ensuring that every step forward is one of progress, prosperity, and shared success.”
By Aduragbemi Omiyale
A partnership aimed to enable seamless, real-time and secure transactions for cardholders across Africa and the rest of the world has been entered into by Payattitude and PAPSSCARD, the card scheme initiative of the Pan-African Payment & Settlement System (PAPSS).
The collaboration will allow Payattitude cards issued by banks and other deposit-taking institutions to be co-branded with PAPSSCARD, Discover, Diners and Pulse for acceptance across their networks in Nigeria, Africa and worldwide.
As an initiative of the African Export-Import Bank (Afreximbank) and a key financial infrastructure supporting the African Continental Free Trade Area (AfCFTA), the PAPSSCARD scheme will facilitate instant cross-border payments in local currencies.
“This partnership reflects our commitment to cross-enterprise alliances and enabling inclusive, efficient, and borderless payments across Africa and the world
“With Payattitude, Nigerian cardholders and financial institutions can now enjoy the benefits of a Nigerian card that can be used worldwide,” a director at Payattitude, Dr Agada Apochi, said.
The acting chief executive of PAPSSCARD, Mr John Bosco Sebabi, said the aim is “to connect African payment ecosystems, reduce the cost and inefficiencies of cross-border payments, and strengthen African sovereignty over payments infrastructure.
“Collaborating with Payattitude, a key innovator in Nigeria’s payment space, represents a significant step towards a more unified African payment landscape.”
The chief executive of PAPSS, Mr Mike Ogbalu, said, “By bringing together PAPSSCARD’s robust cross-border payment capabilities with Payattitude’s leadership in the Nigerian digital payments, we are taking tangible steps toward building a single African market where individuals and businesses can transact easily and securely, both within and beyond Africa.”
Payattitude is the first-in-kind Nigerian Payment Scheme to pioneer multibank App and USSD Code *569#.
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