Banking
Unity Bank Unveils Campaign to Promote Advocacy for Gender Equity
By Modupe Gbadeyanka
An initiative to foster greater inclusion, equity, and opportunities designed to promote gender empowerment has been launched by Unity Bank Plc.
The Nigerian lender unveiled this campaign, tagged Unity Bank Women Network, as part of initiatives to mark International Women’s Day (IWD) 2023.
Unity Bank Women’s Network was conceptualised as a gender advocacy platform to enable the bank to target and champion initiatives to promote networking and relationships beginning with females within the institution, providing mentorship opportunities and advocacy on social and other relevant issues such as gender equality, parenting, financial education, and leadership.
The Managing Director of Unity Bank, Mrs Tomi Semefun, while announcing the commencement of the scheme in Lagos on Wednesday, said, as women, “We must also do our part to create a more equitable society that empowers women, drives them to do more, entrust them with responsibilities, and celebrate their achievements every step of the way.”
She announced the bank’s Chief Compliance Officer, Mrs Patricia Ahunanya, as the coordinator of the Women Network, expressing optimism that the programme “will promote more visibility, inclusion, and collaboration amongst women within our organization.”
Speaking further on this year’s IWD theme, #EmbraceEquity, Mrs Somefun said the day provides another opportunity to reflect on the ongoing advocacy for gender equality, adding, “as women, we must always take the time to think about the role we play in creating a sustainable future through our contribution to the success of our organizations, homes, businesses, and the entire society, and evaluate our level of impact and influence.”
She, therefore, pledged that as an institution, “Unity Bank will continue to create an enabling and equitable environment that focuses on empowering its female workforce by creating an atmosphere in which women can thrive irrespective of culture, background, and education.”
While speaking on the Unity Bank Women Network launch, Mrs Ahunanya said that after creating impact with many collaborative initiatives to empower women, it is very significant that the Bank is at last domesticating a viable project initiative to further co-create and drive impact.
To demonstrate commitment to gender inclusion, Unity Bank is one of the financial institutions in Nigeria that has up to three female representatives on its Board and has, over the years, celebrated the IWD with socially impactful initiatives aimed at empowering women and creating an enabling environment for the female gender to thrive.
In the 2022 edition, the Bank collaborated with ALTSchool Africa to empower female software engineers, a strategic initiative to empower the female gender to participate actively in the burgeoning technology sector.
Similarly, the bank partnered with the National Association of Small and Medium Enterprises (NASME) to roll out an engagement programme for women entrepreneurs commemorating the IWD in March 2022.
By Aduragbemi Omiyale
Top financial technology (fintech) companies in Nigeria, PalmPay and Carbon, have commenced the issuance of Verve cards to their customers.
This allows millions of Carbon and PalmPay customers access to Verve’s extensive payment network, bringing digital payment solutions to previously underserved populations.
They began issuance of the cards following the approval of the Central Bank of Nigeria (CBN), underscoring the apex bank’s commitment to empowering fintech companies and advancing financial inclusion across the country.
The issuance of Verve cards by these firms will bring digital payment solutions to previously underserved populations.
Industry observers note that the decision by both fintech companies to align with Verve stems from the payment card’s network-wide reach and a robust infrastructure across Nigeria and beyond.
Last year, Verve marked its 15th anniversary characterized by its outstanding quality, innovativeness and vast array of options; it also announced that it has issued over 70 million cards, establishing itself as a dominant player in Nigeria’s payment ecosystem.
The domestic card scheme’s impressive penetration makes it a natural choice for fintech platforms seeking to rapidly expand their payment offerings while supporting the CBN’s financial inclusion goals.
Other fintech companies that have previously followed this line in issuing Verve cards include Opay and Moniepoint.
As a homegrown card scheme, Verve has continued to innovate its service offerings to compete effectively with international payment networks.
The company has integrated advanced features, including contactless payment technology and enhanced security measures, such as biometric authentication through other sophisticated recognition systems such as fingerprints.
Through collaborations like this, Nigeria’s journey toward a more inclusive financial ecosystem will be shortened, providing more Nigerians with access to modern banking and payment services through the combined technological capabilities of these financial service providers.
By Modupe Gbadeyanka
A leading player in the digital financial services sector, Moniepoint Incorporated, has been described by the federal government as a testament to the strength of Nigeria’s financial technology (fintech) landscape.
The Minister of Foreign Affairs, Mr Yusuf Tuggar, during a visit to the United Kingdom headquarters of the company, also said the firm reflects a true Nigerian success story.
He acknowledged the significant backing Moniepoint has received from global investors, including Google’s Africa Investment Fund, Visa, and BII, further validating its position as a leader in the fintech space.
Mr Tuggar stressed that a thriving fintech sector directly translates to more jobs, increased financial inclusion, and a stronger economy for Nigeria.
The Minister highlighted the organisation’s impressive growth, citing its 2000+ employees, thousands of sales personnel, and its empowerment of millions of businesses through enhanced financial inclusion.
“Nigeria is at a vantage position in the fintech and financial services sector. With banks and fintechs operating across Africa, we must continue to instill confidence in Nigerian businesses as they expand globally. Moniepoint is a testament to the strength of Nigeria’s fintech ecosystem,” he said during the visit aimed at strengthening diplomatic ties and fostering strategic cooperation between Nigeria and the UK.
In his remarks, the chief executive of Moniepoint, Mr Tosin Eniolorunda, reiterated the company’s commitment to powering the dreams of millions of business owners while engineering financial happiness for all Africans.
He noted that the dynamic digital landscape in Nigeria presents unique opportunities to harness technology to drive real change, and Moniepoint is excited to be at the forefront of this transformation.
“By empowering individuals and businesses with financial tools that are innovative and efficient, we believe that technology can be a powerful catalyst for economic growth and social development.
“This visit by the Minister signposts the importance of cross-border collaboration and the strengthening of Nigeria’s global partnerships. We recognize the critical role that international cooperation plays in advancing innovation, especially within the fintech sector.
“As a country, Nigeria has immense potential, and through strategic alliances with global stakeholders, we can unlock new opportunities that benefit both local and international communities.
“At Moniepoint, we are deeply aligned with the Nigerian government’s vision to enhance strategic cooperation in areas like trade, investment, and technology.
“We are eager to continue contributing to the development of our country’s digital economy while fostering meaningful collaborations that will leave a lasting legacy for generations to come,” he stated.
Formerly known as TeamApt Incorporated, Moniepoint, founded in Lagos in 2015 by Mr Eniolorunda and Felix Ike, has rapidly grown into a comprehensive digital financial services provider.
Offering payments, banking, credit, business management tools, and cross-border payment solutions, Moniepoint serves over 10 million businesses and individuals across Nigeria and Africa.
By Modupe Gbadeyanka
To help Nigerians secure their financial futures and build lasting legacies, Stanbic IBTC Bank has reintroduced its private banking offerings.
With a focus on personalised financial solutions, portfolio management, investment strategies, and estate management, Stanbic IBTC Bank empowers individuals and families to achieve their long-term goals of building lasting legacies for future generations.
By equipping families and individuals with the knowledge and tools to manage their wealth effectively, the subsidiary of Stanbic IBTC Holdings is fostering a legacy of financial resilience and prosperity.
Stanbic IBTC Bank’s private banking offerings include personalised financial planning to help clients achieve their short and long-term financial goals, investment management to enable clients access a wide range of investment opportunities, (including equities, fixed income, and alternative assets), estate and trust services through expert guidance on estate planning, wills, and trusts to ensure smooth wealth transfer, retirement planning through solutions that help clients build a secure and comfortable retirement, insurance and risk management through comprehensive protection against unforeseen events that could impact financial stability.
In a world where financial security and intergenerational wealth transfer is becoming increasingly critical, Stanbic IBTC Bank’s comprehensive suite of private banking solutions provides clients with the tools and expertise needed to navigate the complex financial landscapes.
Stanbic IBTC Bank leverages its deep market knowledge and global expertise to deliver solutions that align with clients’ unique aspirations.
“At Stanbic IBTC Bank, we understand that building a legacy goes beyond accumulating wealth; it is about creating a sustainable financial foundation that benefits future generations.
“Our innovative solutions are designed to help families protect, grow, and transfer their wealth seamlessly, ensuring their values and aspirations endure over time,” the chief executive of Stanbic IBTC Bank, Mr Wole Adeniyi, stated.
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