Banking
Heritage Bank Advocates Early Cashless Lessons for Children
By Modupe Gbadeyanka
One of the lenders in the country, Heritage Bank, has called for early lessons on cashless policy of the Central Bank of Nigeria (CBN) for children to also prepare them towards performing basic banking tasks, to subsequently give them financial freedom.
This advice comes on the heels of the commemoration of the May 27 to mark Children Banking Month, with the theme, ‘Early Positioning for Glocal Relevance,’ which is part of Heritage Bank’s children financial literacy initiative.
In a statement made available to Business Post on Monday, the financial institution stressed the need to educate children on the cashless policy by showing them how prepaid card transactions work and how to use ATM cards to deposit and withdraw.
The Heritage Children Banking Month, which activities will directly impact a minimum of 350 primary and secondary schools nationwide this year, is in recognition of the pivotal role children play as the leaders of tomorrow.
Altogether Heritage bank at the end of the month would have imparted financial education on over 1,000 schools across the country since commencing this programme two year ago, an initiative that the vibrant and dynamic financial institution also considers as a corporate social responsibility.
Managing Director of Heritage Bank, Mr Ifie Sekibo, speaking on the importance of the celebration, stressed that for early positioning of your children for global and local relevance, there was need for parents to teach children on prioritize saving over spending, which is a valuable life lesson, one that takes time to learn.
According to him, opening a savings account for your child is one of the best ways to introduce that concept at an early age.
“Walking into a branch office is a good way to help your child become familiar with routine transactions involving his or her account. Your child’s online habits, even financial, can be important, too, so check for features such as monthly statements and controls on payments and transfers from savings accounts. You can teach money management and internet safety together,” Mr Sekibo said.
He noted the need for parents to develop series of simple games to teach children about money with good saving habits, which becomes part of their normal development, saving for the future is likely to become a habit.
Meanwhile, the high points of the commemoration will be the selection of 10 students between the ages of 5 to16 years from the six geo-political regions who would be invited to assume various banking roles for the day.
Children who are account holders of ‘Bud Account,’ as well as prospective account holders from each of the regions will be allowed to participate in a competition to produce 60seconds video showcasing how “Glocal you are,” which would elicit social media votes.
Best 3 videos to be used on all social media platforms on the week of children’s day would be presented a tablet each as a special prize.
The MD added: “The project is part of Heritage Bank’s contribution towards transforming the nation in paying more attention to the bud stage. This underscores our belief that if we get it right with the children, then the future of the nation is guaranteed. At Heritage Bank we believe in creating, preserving and transferring wealth.”
Whilst advising parents on opening Bud Account, Mr Sekibo noted, “when your child receives birthday money, or cash from chores, have them put some into the bank to save for bigger ticket items.”
Hundreds of exercise books, pencils, water bottles, umbrellas will be won by pupils, parents and wards in the course of the month through various engaging activities.
By Modupe Gbadeyanka
To strengthen Europe-Africa trade ties, Access Bank has opened a new branch in Malta. It will focus on international trade finance, employing approximately 30 people in its initial phase, with plans for controlled expansion over time.
It was learned that this Maltese branch was established by Access Bank UK Limited, the subsidiary of Access Bank Plc, which is also the subsidiary of Access Holdings Plc, which is listed on the Nigerian Exchange (NGX) Limited.
Access Bank Malta Limited commenced operations after obtaining a banking licence from the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA).
Access Bank said the licence marks a transformative milestone in bolstering Europe-Africa trade flows.
Malta, a renowned international financial centre, and a gateway between the two continents, is strategically positioned to play a pivotal role in advancing commerce and fostering economic partnerships.
This strategic expansion into Malta enables The Access Bank UK Limited to leverage growing trade opportunities between Europe and Africa.
It underscores the organisation’s commitment to driving global trade, financial integration, and supporting businesses across these regions.
“By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us one step closer to our goal of becoming Africa’s Gateway to the World.
“It further enhances our bank’s capacity to support clients with innovative solutions tailored to cross-border trade and investment opportunities,” the chief executive of Access Bank, Mr Roosevelt Ogbonna, stated.
“Europe has emerged as Africa’s leading trading partner, driven by initiatives such as the Economic Partnership Agreements between the EU and African regions and the African Continental Free Trade Area (AfCFTA).
“With Europe-Africa economic relations entering a new phase, The Access Bank Malta Limited is ideally positioned to deepen trade and meet the financing and banking needs of our clients in these expanding markets,” the chief executive of Access Bank UK, Mr Jamie Simmonds, commented.
Also speaking, the chief executive of Access Bank Malta, Renald Theuma, said, “Malta is uniquely positioned as a bridge between Europe and Africa, making it an ideal location for our subsidiary. This move allows The Access Bank Malta Limited to engage more closely with customers in Europe and deliver tailored financial solutions that drive growth and connectivity across both continents.”
By Adedapo Adesanya
The International Finance Corporation (IFC) and Goldman Sachs have announced a new partnership with African banks, including Nigeria’s Zenith Bank and Stanbic IBTC Nigeria to support the Goldman Sachs 10,000 Women initiative, a joint programme launched in 2008 to provide access to capital and training for women entrepreneurs globally.
The two Nigerian banks are part of nine financial institutions from across Africa which have agreed to join the 10,000 Women initiative committing to leverage the business education and skills tools the programme provides to create more opportunities for women entrepreneurs across the continent by providing access to business education.
Others banks include Stanbic Bank Kenya, Ecobank Kenya, Ecobank Cote d’Ivoire, Equity Bank Group, Banco Millenium Atlantico – Angola, Baobab Group, and Orange Bank.
Speaking on this, Ms Charlotte Keenan, Managing Director at Goldman Sachs said – “10,000 Women has had a powerful impact to date, but we know that there are more women to reach and more potential to be realized.
“We are delighted to partner with IFC to supercharge the growth of women-owned businesses across Africa, and mainstream lending to female business leaders. We remain committed to supporting entrepreneurs with the access to education and capital that they need to scale.”
Since 2008, the 10,000 Women initiative has provided access to capital and business training to more than 200,000 women in 150 countries.
“This expanded initiative marks a significant step forward in creating equitable economic opportunities for women in Africa, enabling them to build stronger, more resilient businesses and to realize their entrepreneurial goals,” said Ms Nathalie Kouassi Akon, IFC’s Global Director for Gender and Economic Inclusion.
Goldman Sachs’ 10,000 Women initiative complements the Women Entrepreneurs Opportunity Facility (WEOF), launched in 2014 by Goldman Sachs and IFC as the first-of-its-kind global facility dedicated to expanding access to capital for women entrepreneurs in emerging markets.
By Aduragbemi Omiyale
In recognition of its unwavering commitment to fostering access to financing for Nigerian micro, small and medium enterprises (MSMEs), Development Bank of Nigeria Plc has been rewarded with the Financial Inclusion Leadership Award at the Champions of Inclusion Nigeria Financial Inclusion Awards.
This was at the 2024 International Financial Inclusion Conference (IFIC) organised by the Central Bank of Nigeria (CBN) in collaboration with the World Bank and other stakeholders.
The chief executive of the lender, Mr Tony Okpanachi, said the recognition affirms the company’s efforts in expanding access to financial services for MSMEs in Nigeria.
“We are honoured to receive the Financial Inclusion Leadership Award, which is a testament to our bank’s commitment to expanding access to financial services for all Nigerians. This award recognises our efforts to bridge the financial inclusion gap, particularly for a priority sector like the MSMEs.
“Additionally, this award is a validation of our strategic focus on driving financial inclusion for small businesses, and we are proud to be at the forefront of this initiative that drives that. We will continue to innovate and expand our financial inclusion programmes, ensuring that more Nigerian small and startup businesses have access to services,” he stated.
On his part, the Chief Operating Officer of DBN, Mr Bonaventure Okhaimo, said the accolade demonstrates the firm’s dedication to driving financial inclusion and economic growth in Nigeria.
“This award acknowledges our Bank’s innovative approach to widening opportunities for MSMEs in Nigeria to grow and scale their businesses,” he said.
“This award will motivate us to continue pushing the boundaries of financial inclusion, exploring more innovative solutions and partnerships to expand our reach and impact.
“We are committed to ensuring that more small businesses and startup enterprises in Nigeria have access to financial services, this award will further inspire us to accelerate our efforts in this regard,” he stated.
-
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
-
Banking6 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