Business Briefs
THE Nigerian banking landscape has been positioned to witness great developments and innovation, especially in the deployment of technology to give the banking public a fresh experience. Ifie Sekibo, chief executive officer, Heritage Banks, is of the view that the country is witnessing the dawn of a new banking industry as we make history with the full establishment of Heritage bank. It is a new day that gives birth to our commitment to helping Nigerians create, nurture and transfer wealth to others. “With the inauguration of our operational branches, we have signed up to the charter of establishing a bank that is tuned to the discipline of global best practices and the passion of delivering transformational experiences for everyone that honours us with their custom, “ Sekibo said, adding that the bank will always be committed to harness what customers have and grow it into what can be theirs and their generations’ security in view. He said the bank was determined to work with each customer to create a name and heritage for the present and future generations.
Reward of 13-Day Ambush
THE Nigeria Customs Service made a huge catch recently when its officers intercepted more than 13 trailer load of rice worth about N96 million at Gbaji Yeke in Badagry, Lagos State. Wale Adeniyi, Customs national public relations officer, said the seizure was made by the federal operations unit, FOU, zone A, Ikeja, in collaboration with the western Marine Command. A team of Customs officials led by M. A.Yussuf laid ambush for the smugglers for 13 days before they were caught.
The Return of Wonder Banks
NIGERIANS have been warned to be wary of ‘wonder banks’ which are making a come back in the polity. The ‘wonder banks’ offer unsuspecting investors and depositors phony banking and investment schemes with high returns. The inter-agency committee on illegal fund managers and ‘wonder banks’, comprising the Central Bank of Nigeria, CBN, the Securities and Exchange Commission, the Nigeria Deposit Insurance Commission, NDIC, the Corporate Affairs Commission, CAC, the Economic and Financial Crimes Commission, EFCC, and the Nigerian Police Force alerted the banking and investing public that in spite of several efforts to curb their illegal activities, the ‘wonder banks’ investment schemes have continued to mushroom in different forms and styles in various parts of the country.
The committee said that huge amounts of funds were trapped in illegal investment schemes of ‘wonder banks’. It advised investors and depositors to conduct due diligence and checks with appropriate regulatory authorities on the veracity of the license of any institution they want to invest in.
Strengthening Microfinance Banks
OWNERS of microfinance banks, MFBs, in country have been advised to adopt structures that would encourage the growth of their business. Nelson Amuwa, senior examiner, Central Bank of Nigeria, CBN, gave the advice at a stakeholders’ forum in Lagos, last week. He said the MFBs should focus on the needs of their customers, if they want to achieve their goals.
He urged them to provide management information systems that would contain vital information on their operations, adding that they should put in place managements that could buy into corporate governance process, provide good oversight functions, clear strategic vision for the institutions and be committed to lead the team.
For Customers’ Convenience
STANBIC IBTC Bank has introduced the Stanbic IBTC MobileMoney App for smartphones running on Blackberry, ios and android operating systems. Obinnia Abajue, executive dirctor, Personal and Business Banking, Stanbic IBTC, said the introduction of the mobile application was another step towards leveraging evolving technologies to bring affordable financial services closer to Nigerians in line with the bank’s financial initiative. “When we unveiled Stanbic IBTC MobileMoney, we set out to deliver a service that can make a big difference in the lives of Nigerians by providing them with a fast and convenient means of sending and receiving money,” said Abajue. According to him, by enabling people to use their mobile phones as a tool for carrying out basic financial transactions, we hope to deliver long-term benefits for both our customers and the Nigerian economy.
— Apr. 22, 2013 @ 01:00 GMT
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