Heritage Bank Attains PCI DSS Version 3.2

By Modupe Gbadeyanka A partnership will enable customers to receive remittances from anywhere in the world, directly into their Smartcash Payment Service Bank (PSB) has been entered into with Simba Pay Limited, a subsidiary of MFS Africa. A statement from the firm explained that Smartcash customers can instantly receive international funds directly into the account by simply sharing their phone numbers, which also serve as their account numbers. Smartcash PSB, a subsidiary of Airtel Networks Nigeria, was launched in 2022, after obtaining an operating licence by the Central Bank of Nigeria (CBN) to provide financial services to unbanked persons in

By Bliss Okperan The Managing Director and chief executive of First Bank of Nigeria Limited, Mr Adesola Adeduntan, has disclosed that financial institutions in the country have the balance sheet to support big-ticket transactions, particularly from offshore investors. President Bola Tinubu travelled to the United States last week for the United Nations General Assembly (UNGA) and went with some businessmen and bank executives, including Mr Adeduntan. The Nigerian leader used the occasion to urge foreign investors to bring their funds into the country because he would create a business-friendly environment to make their investments grow. Nigeria, which is the largest

By Dipo Olowookere Schools have been urged to choose Ecobank Nigeria Limited as their preferred financial institution for fee payments and collections because of the exciting advantages the lender offers. The Head of Consumer Banking at Ecobank, Mrs Korede Demola-Adeniyi, made this appeal while rolling out the special loan packages designed by the bank for its back-to-school initiatives. Mrs Demola-Adeniyi said the financial institution created some packages for parents, guardians and schools in line with its overall strategy to support the development of the nation’s education sector. According to her, there is a Banking-for-School pack for educational institutions to access

By Modupe Gbadeyanka A creative studio, EPAC Studios, has been unveiled by Ecobank Nigeria Limited to promote talents in the showbiz industry in Africa. The bank disclosed in a statement that the facility would be used to carefully tell “authentic African stories in art, culture, lifestyle, and entertainment.” According to the Head of Marketing and Corporate Communications at Ecobank Nigeria, Mr Jide Sipe, the initiative is to showcase further and develop the creative industry, adding that the space is an open canvas for the public to explore, collaborate and create premium indigenous content for television, online and mobile platforms. EPAC

The Cannes Lions International Festival of Creativity has announced the final names of the 2019 jury members, representing a diverse mix of disciplines from across the global industry. One of the persons chosen was Steve Babaeko, a media executive from Nigeria, who is the owner of X2M Ideas Limited. In 2019, 48% of jury members are female, up from 46% in 2018, 43% in 2017 and 40% in 2016. The Cannes Lions juries will be represented by world class specialists from over 50 countries, with first-time jury members hailing from Jordan and Morocco this year. In 2019, the juries are

By Dipo Olowookere The Nigerian stock market is on a roller coaster mode, losing for a day and gaining for another session. On Wednesday, it was the turn of the bears to take charge and the exchange went down by 0.06 per cent on the back of profit-taking by investors. Business Post reports that the marginal decline suffered by the Nigerian Exchange (NGX) Limited occurred despite the market breadth closing positive with 22 price gainers and 15 price losers. Learn Africa posted a 10.00 per cent fall to trade at N2.34, University Press lost 9.79 per cent to finish at

By Modupe Gbadeyanka A standing committee has been established to come up with an acceptable guide to regulate dealings between patients and medical doctors in the country. The panel was set up during a meeting between the Consumer Protection Council (CPC) and the Nigerian Medical Association (NMA) in Abuja recently. Members of the committee would be drawn from both the CPC and the NMA and they advance the finalisation of the document and expand key areas of collaboration for the promotion of high standards of care and patients’ protection. Outcome of the document would form a guide to be called

By Adedapo Adesanya The United States government has promised to do everything possible to defend free press in Nigeria, which it said remains vital to democracy and good governance. The American government expressed this with a partnership, through its Embassy, with the Nigerian Guild of Editors (NGE) for the first of the six media-focused Town Halls and Workshops in Lagos on Thursday. The event will also take place across the country in the next several months. The capacity-building programme will provide a forum for over 200 participating Nigerian editors and leaders of the independent press to discuss and share best

By Modupe Gbadeyanka Governor Babajide Sanwo-Olu of Lagos State has said his government will have meet the management of federal government controlled Nigerian National Petroleum Corporation (NNPC) to discuss on issues of compensation for victims of the January 19 pipeline fire in Abule Egba. Speaking on Saturday during a visit to the over 300 victims of the unfortunate incident housed at the Igando Emergency Relief Camp in Alimosho local government area of the state, Mr Sanwo-Olu further said government will also discuss with the corporation on measures to be taken in finding a lasting solution to incidents of pipeline vandalism

By Adedapo Adesanya The Nigerian Institute of Shipping (NIS) and the National Association of Government Approved Freight Forwarders (NAGAFF) have applauded the decision of the federal government to reopen the nation’s land borders, noting that it would lead to increased market turnover as more goods will come into the country. Business Post had reported yesterday that four of the nation’s land borders have been opened 16 months after they were shut in August 2019 on grounds to curb smuggling of goods and weapons and also boost local production. Through the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed

By Dipo Olowookere A High Court in Uganda has cleared Bidco against claims of deforestation in the Vegetable Oil Development Program in Kalangala district. The public interest case filed by three environmental groups alleged that Bidco coerced the Government through the National Forestry Authority to de-gazette forest reserves on Bugala Island for the growing of oil palm. The court rejected this claim. “The defendants have never asked the Government of Uganda to de-gazette any forest reserve as claimed in the plaint, no forest reserve has been de-gazetted as a result. The land was provided on Lease to Bidco by the

By Dipo Olowookere The decision of Heritage Bank Plc to support young entrepreneurs in the country is beginning to pay off as the nation’s most innovative banking service provider was recently awarded for its outstanding contributions toward improving the lives of Young Business Owners in Nigeria. At the 5th anniversary ceremony of the highly-rated Nigerian Young Professionals Forum (NYPF) Awards for 2018, the lender honoured for its efforts. Recall that recently, the financial institution was bestowed with the Best Bank of the Year Business Support/Entrepreneur Development at the Africa Value Award 2018. It was also adjudged as the Best SME