Banking
FBNQuest Drives Financial Literacy
In a bid to promote financial literacy amongst women and the younger generation, FBNQuest, the investment banking and asset management subsidiary of FBN Holdings Plc, recently held educative sessions to educate women, preteens and teenagers on how to preserve, save and grow their wealth.
In celebration of International Women’s Month, the organisation, through its Leading Conversations with FBNQuest webinar series, hosted three webinars aimed at promoting financial literacy among women.
The webinars were themed You Worked Hard for it – Let’s Preserve it – a webinar on the benefits of Estate Planning; Investment Options and How to Get Started and Diversifying Your Investment: What You Need to Know.
The sessions provided insights on how professionals and business owners can commence their journey to financial freedom through adequate planning, preservation and investment techniques.
Some of the key topics discussed centred around Estate Planning, Stockbroking, Trading and Portfolio Management.
Questions on investing, preserving and securing your future financially were answered by a panel of experts who spoke during the sessions.
The organisation also aims to improve and deepen the financial knowledge of Nigerian children through its support of Global Money Week.
The Chief Financial Officer of FBNQuest Merchant Bank, Olamide Adeosun and other employees of the organisation through the employee volunteering initiative volunteered to train over 400 students on Financial Literacy.
This year’s event was themed Take care of yourself, take care of your money. Representatives from the organisation shed more light on subjects to distinguish between wants and needs, as well as the importance of making the right financial decisions.
These were communicated using simple relatable videos and illustrations. The investment certified professionals went further to cover and highlight how students can take advantage of investment opportunities from a young age, cultivating the habit of putting money away to meet medium to long term financial goals. The schools visited spanned across Lagos, Abuja, Rivers and Imo states.
Commenting on these initiatives, Lolade Sasore, Head People and Knowledge Engagement at FBNQuest Merchant Bank stated: “At FBNQuest, one of our pillars as responsible corporate citizens focuses on driving financial literacy, as we believe it is pivotal to building sustainable economic growth.
“We remain committed to contributing to this collective goal by participating, and hosting more sessions that will enable us add value to individuals across the country.”
FBNQuest launched its Leading Conversations with FBNQuest webinar series in 2020. The series focuses on market, industry, consumer insights and analyses that are crucial for individual and corporate success.
The event featured leading professionals of FBNQuest, as well as other industry experts with experience in corporate and private investment management, wealth preservation, financial advisory and other areas of interest.
By Adedapo Adesanya
Global financial payments giant, Visa, has made a strategic investment of $10 million in Nigerian fintech unicorn, Moniepoint, to expand its services and deepen financial inclusion on the African continent.
This development comes three months after Moniepoint raised $110 million in a Series C funding round that made the company a unicorn.
With the new play, Visa joins other investors, including Development Partners International, Google’s Africa Investment Fund, Verod Capital, Lightrock, QED Investors, Novastar Ventures, British International Investment (BII), FMO (the Dutch entrepreneurial development bank), Global Ventures and Endeavor Catalyst as equity partners.
This partnership will combine Moniepoint’s local expertise and innovative business model with Visa’s global resources and capabilities to offer payment solutions to businesses and entities.
Moniepoint provides banking and payment services to small and medium businesses and retail banking. It is one of the market leaders in Nigeria’s agent banking space, with over 300,000 POS agents and has processed billions of transactions since it was founded in 2015.
The new Visa’s investment will further help Moniepoint expand its services and deepen financial inclusion on a continent that still has a comparatively low rate of financial services adoption.
Moniepoint will leverage Visa’s Cybersource system to gain better visibility into transactions. Additionally, it plans to integrate with Visa Direct for remittances and money transfers as it looks to expand into markets within and outside Africa.
Speaking on the move, Mr Tosin Eniolorunda, Founder and Group CEO of Moniepoint said, “Visa’s backing is a strong endorsement of our vision to digitize and support African businesses at scale.
“We aim to deepen financial inclusion, enabling SMEs to access the tools and resources they need to thrive in an increasingly digital economy.”
On his part, Mr Andrew Torre, Regional President, Central and Eastern Europe, Middle East and Africa at Visa, noted that, “Moniepoint has built an impressive platform that directly addresses the needs of Africa’s SMEs, a critical segment in enabling economic development.
”By making financial services and digital payments more accessible and efficient, Moniepoint is helping transform how businesses operate in Nigeria and beyond.
“We are excited to support their next phase of growth and innovation,” he added.
By Dipo Olowookere
Efforts are being made by the management of a rapidly growing financial technology (fintech) company,
Bankit Microfinance Bank (MFB), to grow its loan and gaming services.
The firm said this is one of its targets for 2025 to solidify its position as a leading platform for comprehensive, simplified banking activities after it recorded remarkable growth in 2024 with different milestones as a result of its competitive edge and cutting-edge technology.
The digital financial services provider said it was already talking to its various partners on how to ensure customers get more access to credit facilities for different needs.
It said nothing would be spared to revolutionise digital banking in Nigeria, especially with a focus on innovation, customer protection, and financial inclusion.
Last year, Bankit MFB, within its first few weeks of operations, successfully registered over 50,000 users on its platform, a testament to its innovative simple banking approach to digital banking.
This year, the small lender has an ambitious plan to increase this by 900 per cent to a record 500,000 businesses in 2025.
Business Post gathered that in 2024, the financial institution recorded impressive transaction values, exceeding N100 million, with an impressive 90 per cent transaction success rate.
Since joining the business, it has introduced web banking and other innovative banking products, with more in development.
With the financial services sector not immune to fraud, Bankit MFB said it prioritises the protection of customers’ funds, expressing its commitment to diversifying its digital services to enhance customer experience.
Bankit MFB is a financial institution licenced to operate in the country by the Central Bank of Nigeria (CBN), which is dedicated to providing innovative, customer-centric financial solutions to individuals and others.
By Aduragbemi Omiyale
The Central Bank of Nigeria (CBN) will on Tuesday, January 28, 2025, launch a foreign exchange (FX) code designed to boost the integrity of the market.
A statement from the banking sector regulator on Wednesday said the FX code would be unveiled at its headquarters in Abuja next week.
It explained the forex code will serve as a guideline for the ethical conduct of FX dealers in the Nigerian forex landscape.
“The Central Bank of Nigeria has approved the release of the Nigerian Foreign Exchange (FX) Code as a guideline to the banking industry to promote the ethical conduct of Authorised Dealers in the Nigerian Foreign Exchange Market.
“The bank will formally launch the code at the CBN Head Office Auditorium, Abuja, on Tuesday, January 28, 2025,” the statement read.
-
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