Banking
Ecobank MD Hinges AfCFTA Success on Banks, Others
By Ahmed Rahma
If the African Continental Free Trade Area (AfCFTA) is to succeed as expected, then the financial services industry must be allowed to play a pivotal role.
This was the submission of the Managing Director of Ecobank Nigeria, Mr Patrick Akinwuntan, who said banks and other players in the sector have the ability to facilitate the liberalisation process.
According to him, the industry will be responsible for facilitating transactions, mobilising savings, allocating capital funds and monitoring managers so that the funds allocated will be utilised as envisaged, as well as managing risks.
“Nigeria banks have strong capital and their operating synergies have been tremendous for the past five years particularly in the digital banking space.
“Nigeria is a leading player on the continent in payments required to facilitate trade; mobilization of savings required to galvanize the economy; focus on the SME segment, which is the largest employer of labour especially in the critical industries such as Agriculture as Africa is a continent that is rich in commodities; education of our teeming population and health,” the banker said.
Mr Akinwuntan, while speaking at the webinar organised by Deloitte themed Exploring Nigeria’s Readiness for the African Continental Free Trade Area, urged financial institutions to adequately play their expected roles.
He said they would need to drive value creation by developing new technologies, scaling its payment infrastructure and methods to a pan African play to serve the diversified economies expected from the agreement.
“Africa’s financial services sector will also be relied on to provide the credit and support necessary for certain industries to move forward particularly the infrastructure and manufacturing sectors, which will be at the centre of Africa’s development goals following the AfCFTA enactment.
“Nigerian financial service industry has a basic platform to enable African financial services to contribute significantly to the trade area. The BVN innovation in Nigeria is unique, more like the social security number in the USA. NIBSS, the hub for payment systems in Nigeria is a strong base that is scalable to a pan African payment network.
“In terms of continental expansion, we are beginning to increased interest in Pan African banks. Ecobank with strong Nigeria content, is a lead player in this space, with presence in over 33 countries in Africa,” he stated.
Also speaking at the event, the Minister of Industry, Trade and Investment, Mr Adeniyi Adebayo, assured that the Nigerian government was irrevocably committed to the success of the AfCTA.
The Minister said the AfCFTA complements Nigeria’s export diversification aspiration as it provides preferential market access for Nigerian products and services in the vast African market.
“For Nigeria, the gains are significant. The AfCFTA would expand market access for Nigeria’s exporters of goods and services, spur growth and boost job creation, eliminate barriers against Nigeria’s products, provide a dispute settlement mechanism for stopping the hostile and discriminatory treatment directed against Nigerian, safeguard the Nigerian economy from dumping and unfair trade practices and support the industrial policy, among others,” he stated.
By Aduragbemi Omiyale
The N3.97 billion commercial paper issuance of AG Mortgage Bank Plc will close on Thursday, June 18, 2026.
The sale of the debt instrument by the real estate lender commenced on Wednesday, June 10, 2026.
It is under the N5 billion commercial paper issuance programme of the lending firm aimed to support its short-term working capital and funding requirements.
The company is selling the papers in two series, with Series 2 offered at a discounted rate of 19.2895 per cent for 270 days, and Series 3 at a discounted rate of 19.3651 per cent for 364 days.
The minimum subscription is N5 million, and subsequent additions of N1 million.
AG Mortgage Bank is a leading primary mortgage bank in Nigeria with over two decades of experience in providing affordable mortgage financing and housing finance solutions.
The bank has grown its asset base to over N33 billion and remains a key participant in major housing intervention programmes, including the National Housing Fund Scheme and other government-backed mortgage initiatives.
Supported by a diversified product offering, strong institutional credibility, and an experienced management team, AG Mortgage Bank continues to deliver solid financial performance.
For FY 2025, interest income increased by 28.1 per cent to N3.65 billion, while profit after tax rose by 130.0 per cent to N1.05 billion, reflecting strong earnings growth, operational efficiency, and prudent risk management.
By Aduragbemi Omiyale
The chairman of Access Holdings Plc, Mr Aigboje Aig-Imoukhuede, has reaffirmed the organisation’s long-term commitment to shareholders, expressing confidence in the company’s strategic positioning, which he said is underpinned by disciplined execution, a diversified business model, a strengthened capital base, and a clear focus on sustainable value creation.
Speaking at the 4th Annual General Meeting (AGM) of the firm on Wednesday, he explained that the temporary suspension of dividend distributions was a consequence of regulatory compliance requirements rather than any deterioration in the group’s financial performance.
Mr Aig-Imoukhuede reaffirmed that the financial institution’s earnings capacity remains strong and that the board’s position reflects adherence to supervisory expectations and prudent capital management principles.
He assured shareholders of the board’s commitment to resuming dividend payments as soon as the relevant regulatory conditions are satisfied, noting that, “Our approach is clear: capital retained today must translate into greater value tomorrow and sustainable returns for our shareholders.”
The Chairman reiterated the strategic imperative underpinning the company’s next phase of growth, saying, “Our strategy, From Scale to Value, reflects the natural evolution of our journey. Scale created opportunity; value creation is how we fully realise it.”
He noted that while the organisation continues to generate strong returns, ensuring that earnings per share consistently exceed the cost of capital remains central to unlocking sustainable shareholder value.
The retired banker also acknowledged the significant unrealised value embedded within the firm’s international subsidiaries and reiterated management’s focus on improving market recognition of that intrinsic value over time.
Commenting on the financial performance of the group in 2025, he said Access Holdings accelerated provisions on legacy and regulatory forbearance credit exposures, resulting in elevated impairment charges.
He explained that the group consciously prioritised balance sheet strength and long-term resilience over short-term earnings optimisation.
“Periods of economic uncertainty often reveal more about an institution than periods of uninterrupted growth. Our focus remains on building a business that is not only growing, but improving in the quality, resilience, and sustainability of its earnings,” he stated.
Last year, the financial services organisation delivered pre-tax profit of N1.007 trillion, underscoring the strength of its diversified platform and expanding earnings base across key markets. Total assets increased to N51.56 trillion, while customer deposits grew strongly, reflecting sustained franchise momentum and deepening customer trust.
By Modupe Gbadeyanka
A new report highlighting the transformation from a newly established fintech venture into one of Nigeria’s leading payment infrastructure providers has been launched by HabariPay Limited.
The report, known as the HabariPay Impact Report 2025, provides stakeholders with a comprehensive evolution, innovation journey, business performance, and impact of the fintech subsidiary of Guaranty Trust Holding Company (GTCO) Plc on the digital payments landscape.
The company’s contributions to enabling digital commerce, supporting businesses, strengthening payment infrastructure, and expanding financial access through technology-driven solutions were also captured in the piece.
The HabariPay Impact Report 2025 also highlights the organisation’s strong financial and operational performance, the growth of the Squad platform, and the development of infrastructure that powers payment acceptance, switching, transfers, merchant services, and value-added solutions.
The publication further explores the role of innovation, talent development, and ecosystem partnerships in driving the company’s success.
It showcases HabariPay’s investments in innovation through initiatives such as the Take on Squad Hackathon and the Squad Hackademy, both of which are helping to develop future technology talent and accelerate the creation of practical solutions to real-world challenges.
“As a technology-driven company, we believe that impact extends beyond financial performance. It is reflected in the businesses we enable, the merchants we support, the infrastructure we build, and the opportunities we create for the next generation of innovators.
“The HabariPay Impact Report 2025 captures this journey and demonstrates our commitment to creating sustainable value for customers, partners, and the broader economy,” the Managing Director of HabariPay, Ms Eduofon Japhet, said.
“The HabariPay Impact Report 2025 represents more than a reflection on our achievements; it is a testament to the deliberate investments we have made in building sustainable payment infrastructure, empowering businesses, fostering innovation, and creating long-term value for our stakeholders.
“As we look ahead, we remain committed to expanding our capabilities, deepening our impact, and shaping the future of digital payments through technology-driven solutions that are secure, scalable, and inclusive,” she added.
-
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