The Nation Newspaper

Tag: Access Bank

  • Access Bank, Transfast partner on instant money transfer

    Transfast, a leading provider of cross-border payments and remittance solutions, has partnered with Access Bank to facilitate inflow of remittance to bank accounts & delivery in the form of cash pay-outs from any of Access Bank’s outlets in Nigeria.

    The two entities signed a global agreement to offer remittance services to expatriates sending money to their loved ones across select markets in Africa.

    The new partnership further expands Transfast’s presence in Nigeria, allowing its customers in over 125+ countries to send money to millions of Access Bank accounts as well as non-account holders.

    Access Bank is a leading commercial bank in Nigeria, with an extensive network of millions of customer accounts and over 318 branches. The new partnership with Transfast will increase convenience and ease of banking for Access Bank’s customers in Nigeria as well as support the country’s efforts to achieve financial inclusion.

    The partnership will ultimately connect over 15 million Access Bank customers in Nigeria, Democratic Republic of the Congo, Ghana, Rwanda, The Gambia, Sierra Leone and Zambia to Transfast’s best in class online money transfer experience.

    With a diaspora of 15 million people living in countries including the United States, the United Kingdom, Australia and Canada, remittances play a significant role in Nigeria’s economy. The World Bank estimates that in 2017 alone Nigeria received $22 billion in remittances, making it the largest recipient in Africa.

    This partnership is significant for Transfast, stated its Chief Executive Officer (CEO). “The relationship with Access Bank will allow us not only to extend our network footprint, but also build on the trust that Access Bank enjoys amongst its customers,” said Mr. Samish Kumar, CEO – Transfast.

    ‘’Access Bank’s state of the art technology makes it an effective delivery platform for Transfast services whose focus is in providing a seamless experience to its customers both on the send side & at the point of collection’’

    Commenting on the partnership, Victor Etuokwu, Executive Director, Access Bank Plc, said, “It is with great pleasure that Access Bank Plc is partnering with Transfast a reputable global payment network to meet the needs of our customers who require a sound and reliable international payment platform. As a top player in the remittance industry in Nigeria, our wide branch network and large customer base will be invaluable to this partnership and we are confident that this relationship will be mutually beneficial to both parties. This alliance also supports the Bank’s aspiration of being Africa’s gateway to the world.”

  • Access Bank reiterates support for creativity in Africa 

    On line with Access Bank‘s commitment to promoting the best of Africa using vehicles such as Art, Music, Sports and Fashion, it has partnered with Art X in Lagos to bring the third edition of West Africa’s first international art fair to life.  Access Bank partnered the group when it made its debut in 2016.

    Speaking at the opening ceremony, Dr. Herbert Wigwe, GMD/CEO of Access Bank Plc, expressed his delight that Access Bank is able to contribute to this initiative, which works to make Nigeria a noteworthy destination for art collectors far and wide, thereby championing art and creativity Born in Africa.

    Art X Lagos prides itself as an event designed to showcase the best and most innovative contemporary art from the African continent and diaspora. In three short years, it has succeeded in this goal, welcoming over 15,000 visitors, including art and culture lovers, curators from the world over, and the most avid of art collectors. Art X Lagos is a cornerstone of both Lagos, and the international art calendar, and, with Access Bank, it strives to not only showcase artists, but enable them to reach their goals.

    The Art X Prize with Access, which was created to recognize and support the best of emerging Nigerian visual art talent, has made a comeback this year, naming Bolatito Aderemi-Ibitola as the beneficiary. As a result of her project, “Scraps from Mama’s Floor”, Ms. Aderemi-Ibitola received a grant of N1, 000,000 prior to this year’s event.

    The work of Ms. Aderemi-Ibitola joins that of the immediate past winner of the Art X Prize with Access Habeeb Andu and that of many other artistes from over 18 galleries across Nigeria, Ethiopia, Kenya, South Africa, the U.K., and Spain on display from 2nd November through 4th November at the Civic Centre in Lagos, Nigeria.

    Access Bank is honored to be a part of the success story of artists from across the continent.

  • Lagos targets 150, 000 participants for 2019 Marathon

    No fewer than 150,000 athletes both locally and internationally are expected to participate in the 4th edition of Access Bank Lagos City Marathon, Lagos State Governor, Mr Akinwunmi Ambode said on Monday.

    Addressing a press conference at Lagos House in Alausa, Ikeja to officially announce commencement of preparations for the marathon which is billed to hold on February 2, 2019, Governor Ambode said the target of the State Government, was to use the forthcoming edition to take the tournament from the bronze label of International Association of Athletics Federation (IAAF) to silver, in partnership with the sponsors.

    According to him, “The whole idea is to turn the competition from bronze to silver level. In the last three editions, we had between 100,000 and 120,000 participants. This time around, we want to make sure that come February 2019, we would have not less than 150,000 participants.

    “The reason why we want to take it to that level is to create a new record and create a new platform to allow the 2019 edition to herald what is going to happen in the next six years. We believe strongly that in another six years when we are marking the 10th anniversary, we should actually become a top class marathon, and that is our vision for this competition.  

    “We believe that it is achievable. This is not necessarily about me; it is not even about the sponsors but about making Lagos to be on that top brand across the world and that is how cities are elevated to become global brand,” Governor Ambode said.

    He said arrangement had equally been firmed up to encourage more local participation, as well as more physically-challenged athletes, a development he said necessitated the increase in prize monies for the two categories. 

    “We think obviously that we should pay more attention to our physically-challenged athletes this time around and also to embrace more of local participation. This time around, we would push more money to the local races and we would push more money to also our physically-challenged athletes to encourage more people to come in, while the main prize remain the same,” he said.

    Speaking further at the media briefing which was attended by Nigeria’s sports icons including Mary Onyali, Samson Siasia, Waheed Akanni, Seye Ogunlewe, among others, the Governor said the idea of the marathon was part of his administration’s initiatives to use sports, entertainment and hospitality to grow the economy and positively engage the bourgeoning youth population in the State.

    “Looking at some of Nigeria’s sport legends here, it just summarizes everything that we have tried to do in the last three and half years. The idea is that it is possible to create a new set of jobs and services using sports, using hospitality, using entertainment to create a new level of creativity and innovation and then drive the Nigerian economy into different direction that creates positive energy, and when you come to this kind of gathering and you are able to now see the private sector, sports people, it means that there is still hope in this country,” Governor Ambode said.

    Besides, the Governor commended all the sponsors, media and all those who have contributed to the success of the marathon in the last three years, saying the development was a dream come true.  

    Earlier in his welcome address, Chairman of Lagos State Sports Commission, Dr. Kweku Tandor said the Lagos City Marathon, was the third of its kind after Brighton and Bournemouth Marathon in the United Kindgom to earn the prestigious IAAF Bronze Label only after its second edition, which held on February 10, 2018.

    He said the Governor had already given approval for the setting up of a Lagos Marathon Village at the Teslim Balogun Stadium that would not only sustain the culture of the marathon but also serve as a rallying point in the quest by the present administration to stage mini-marathons in the five divisions of the State.

    “It is going to serve as the headquarters for marathon races in Lagos. What we have in mind is to have sectoral marathons, Lagos Women Run is coming up next month, we have SWAN Marathon coming up in December and we also envisage that we are going to be having Epe Marathon, Ikorodu Marathon and so on.

    “So we need a coordinating office under the direction of the Lagos State Sports Commission and that is the vision that led to the construction of that facility within Teslim Balogun to serve as the Lagos Marathon Village. Construction work will commence anytime from now,” Tandoh said.

    He said the Governor had also approved the constitution of a Marathon Council that would be responsible for the supervision of the 2019 Marathon and going forward.

    On his part, Managing Director of Access Bank, Mr. Herbert Wigwe said the commitment of the State Government under the leadership of Governor Ambode has ensured that the Lagos Marathon had become an annual event on the international athletics map.

    He assured that Access Bank, the major sponsors of the Lagos Marathon would continue to give its full support to the event, adding that the 2019 edition will take the event a notch higher so as to receive an IAAF Silver Label for the marathon.

    In his brief remarks, President of the Athletics federation of Nigeria (AFN), Engr. Ibrahim Gusau commended Governor Ambode for setting the pace for others to follow for others to follow in sports development, saying that the 2018 edition of the Lagos Marathon was highly rated amongst top competitions on the international calendar.

     

  • Access Bank, Hacey, others canvass support for girl-child

    The girl-child is a bundle of talents that should be supported by all stakeholders to move the nation forward.

    This was the submission last week at a gathering of over 2,000 girls that attracted civil society leaders, corporate partners, government agencies and diplomatic mission officials.

    It was at an event organised by HACEY Health Initiative with major support from Access Bank Nig Ltd.

    Director Gender Development Programme HACEY, Ms. Rhoda Robinson, said the major challenge of a Nigerian girl child was access to quality education and gender inequality in Nigeria.

    She explained: “The key to girls’ empowerment is to enable access to quality and continuous education, end violence and discrimination against women and girls.”

    While stating other societal issues that are detrimental of the girl child, Robinson urged parents and guardians to stop the harmful practice of Female Genital Mutilation (FGM).

    Founder of Mothers’ Delivery Kit Adepeju Jaiyeoba called on government and corporate organisation to review the gender ratio of employment to give room for the females to make better contributions in all sectors of the country.

    “There should be a source of inspiration for females to want to do more. Look at the difference in government. Women are behind, even in private organisations. You see people who still believe a woman should not head in government or organisation.”

    She expressed optimism that “things are getting better than what they used to be before. More women are challenging in the private sector.

    “But, I believe it will improve if the set of women doing Nigeria proud do not give up.”

    The representative of John Hopkins University centre for communication programme, Edun Omasanjuwa said the significance of the day was to “task ourselves that female children have a lot to give back to the society.” Head of Sustainability Access Bank Omobolanle Victor-Laniyan said the girl-child should never be underrated under any guise.

    “They are exceptionally talented and we should do all we can as an individual, corporate organisation and society to make them become all they should be,” she stated.

     

  • Access Bank supports GIEE on ozone layer preservation

    Glow Initiative for Economic Empowerment (GIEE) with support from Access Bank Plc last week rounded off a series of educative programmes for preservation of Ozone layer.

    Founder of GLEE and Climate Smart Nigeria Glory Oguegbu explained: “The ozone layer is a layer in the earth’s stratosphere at an altitude of about 10 km (6.2 miles) containing a high concentration of ozone, which absorbs most of the ultraviolet radiation (UV rays) reaching the earth from the sun.

    “This layer absorbs 97 to 99 percent of the Sun’s medium-frequency ultraviolet light which otherwise would potentially damage exposed life forms near the surface.

    “From the 1970s, the depletion of the ozone layer started to capture the attention of the scientists, environmentalists, and the world community at large.

    “One and the most important reason for ozone layer depletion is production and emission of chlorofluorocarbons (CFCs). The ozone layer is a very important element of environmental wellbeing.

    “We cannot continue to let this happen. There are steps we can take to combat the menace.

    “Reports from World gallop poll show that 70percent of Nigerians are not aware of climate change whose major boost is the Ozone layer depletion.”

     

  • Access Bank, WorldRemit partner on money transfers

    Digital money transfer service firm, WorldRemit, has partnered with Access Bank for instant money transfers to Access Bank accounts in Nigeria.

    The new partnership further expands WorldRemit’s presence in Nigeria, allowing its customers in over 50 countries to send money to millions of Access Bank accounts directly from their phones.

    Access Bank has an extensive network of millions of customer accounts and over 340 branches. The new partnership with WorldRemit will increase convenience and ease of banking for Access Bank’s customers in Nigeria as well as support the country’s efforts to achieve financial inclusion.

    Plans to grow the partnership will connect over 15 million Access Bank customers in Nigeria, Democratic Republic of the Congo, Ghana, Rwanda, the Gambia, Sierra Leone and Zambia to WorldRemit’s best in class online money transfer experience. The deal supports WorldRemit’s plan to serve 10 million customers connected to emerging markets by 2020.

    With a diaspora of 15 million people living in countries including the United States, the United Kingdom, Australia and Canada, remittances play a significant role in Nigeria’s economy. The World Bank estimates that in 2017 alone Nigeria received $22 billion in remittances, making it the largest recipient in Africa.

  • Access Bank, Microsoft CEOs discuss technology

    The Group Managing Director, Access Bank Plc, Herbert Wigwe, will tomorrow meet with Microsoft CEO, Satya Nadella in Lagos. The two chief executive officers will discuss how financial institutions can further strengthen banking security and provide valued added services on digital platforms, leveraging on technology.

    Among other things, Wigwe said the strategic meeting is expected to showcase the massive progress of Access Bank – which has succeeded in positioning itself as a top leader in the Nigerian financial industry, with its commitment to promoting the adoption of technology as a tool to disrupt the banking industry and improving financial inclusion in Nigeria.

    “Access Bank is revolutionising the Nigerian financial industry to create an ecosystem where customers can perform most of their transactions on digital platforms and the immense technological solutions provided by Microsoft has contributed to this mission. Our discussion will allow us explore various methods through which we can work together to create and deploy custom made solutions to the specific challenges experienced by customers in the country. “

    Leading the way on its mission to become Africa’s gateway to the world in five years, Access Bank Plc has consistently built innovative products to satisfy the evolving needs of customers and maintain its track record of being an innovative bank and living true to its brand promise of providing fast, secure and reliable customer service. Herbert Wigwe to meet Microsoft CEO, Satya Nadella to discuss technology in banking.

  • Access Bank leads plan on positive image for Africa

    Access Bank Plc has restated its unalloyed commitment to positioning Africa as a continent viable for business and investment. This follows the announcement of its five-year strategic plan which, amongst other things, focuses on Africa in relation to the global community.

    This direction accentuates the bank’s current drive to enhance the perception of Africa by drawing the attention of the global community to the indigenous products of Africans; their rich culture, Arts and lifestyle as well as providing essential channels through which individuals, families, and businesses can fully participate in global commercial activities seamlessly.

    The Group Managing Director/CEO of Access Bank, Herbert Wigwe, while speaking about the bank’s direction, stressed that the focus is a continuation of an existing passion of the Bank to ensure that the world sees and appreciates the true representation of Africa.  “Over time, we have remained committed to raising the standard of banking practice in Africa without compromising the importance of our customers,” said Wigwe.

    “Throughout our years of operation, we have realised how large the African continent has become, not only in terms of its viable business environment, but also the uniqueness of its people, culture, resources and lifestyle. These are the stories we are happy to share and we are committed to take on a pivotal role in leading this charge over the next five years,” he added.

    Access Bank is leveraging on technology, especially with its positive track record of innovative products such as the Access Africa; its cross-border transfer service, which is the fastest way to send and receive money across Africa, PayDay Loan and the recently launched Access WhatsApp Banking service.

  • Access Bank to pay N7.23b interim dividend

    •Lender records N39.6b net profit

    Access Bank Plc will distribute N7.23 billion to its shareholders as interim dividend for the first half of this year as the commercial bank sustained modest growths in earnings. Shareholders will receive interim dividend per share of 25 kobo.

    Access Bank had distributed N18.8 billion as cash dividend for the 2017 business year. Shareholders received a final dividend of 40 kobo, in addition to interim dividend of 25 kobo, bringing the total dividend per share for 2017 to 65 kobo.

    Key extracts of the audited report and accounts for the six-month period ended June 30, 2018 showed that gross earnings rose from N246.58 billion in first half 2017 to N253.02 billion in first half 2018. Profit before tax stood at N45.84 billion in 2018 as against N52.05 billion in 2017. After taxes, net profit increased from N39.46 billion in first half 2017 compared with N39.63 billion in first half 2018. Earnings per share remained steady at N1.38.

    The half-year report showed modest improvement on the first quarter performance of the commercial bank. In the first quarter ended March 31, 2018, Access Bank grew gross earnings by 19 per cent to N137.5 billion in first quarter 2018 compared with N116 billion recorded in first quarter 2017. Interest income and non-interest income contributed 70 per cent and 30 per cent respectively to the top-line in first quarter 2018. The report showed a steady bottom-line performance. Pre and post tax profits stood at N27.44 billion and N22.12 billion respectively in first quarter 2018 compared with N27.6 billion and N22.41 billion posted respectively in corresponding period of 2017. Earnings per share stood at 77 kobo in first quarter 2018 as against 79 kobo in first quarter 2017.

    Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe said the bank has started mplementation of key elements of its strategy that will drive growths in the months ahead.

    “A vital part of this is the continued execution of our retail market penetration initiatives, as it remains a strong catalyst to the sustainability of non-funded income growth. In addition we remain focused on consolidating our market position in the corporate and commercial banking segment,” Wigwe said.

    He outlined that the priority of the bank for the rest of the year will be to focus on its retail offerings as it continues to see the benefits of the initiatives intensify over the next few months.

    The Nigerian Stock Exchange (NSE) recently upgraded Access Bank to its premium board.

    Shareholders of the bank recently authorised the board of directors of the bank to raise up to $1.5 billion or N459 billion in new debt issue. Shareholders passed a resolution increasing the size of the bank’s existing $1 billion debt issuance programme to $1.5 billion by the addition of $500 million.

    The debt issuance programme will enable Access Bank to raise capital through the issuance of non-convertible loans, notes, bonds and any other instruments whether by wa of public offering, private placement, book building process reverse call inquiry or any other method or combination of methods.

     

  • Access Bank raises N800m to support vulnerable children

    Access Bank Plc has raised $2.2 million (N800 million) to support vulnerable children during the finale of the annual Access Bank’s UNICEF Charity Shield Polo tournament. The tournament was in partnership with Fifth Chukker and it was held at Guards Polo Club, Windsor, United Kingdom.

    The lender said the game of polo is an avenue to deepen its commitment towards impacting the environment and positively affecting the lives of its teeming customers.

    The event further demonstrated the bank’s commitment to making a difference. The event saw hundreds of game lovers throng the pitch to watch the Nigerian duo, Adamu Atta and Babangida Usman play alongside the number one Polo player in the World, Argentine, Adolfo Cambiasso.

    The Emir of Kano, Sanusi Lamido Sanusi; businesswoman and philanthropist, Bola Shagaya; CEO of Oando Plc., Wale Tinubu; and entrepreneurs, Kola and Tunde Karim were some of the distinguished guests present to support Access Bank’s cause by purchasing artworks worth $30,000 (N11 million) from notable masters of the arts; Ben Enwonwu, Muraina Oyelami, Ablade Glover and Bruce Onabrokpeya.

    Another $2.2million (N800 million) was raised in pledges to renovate dilapidated classrooms and provide a better learning environment for underprivileged and displaced children in Kaduna over the next five years.

    The first edition  saw Access Bank raising funds to support services for 240 orphans and at-risk children in six local government areas in Kaduna, with a specific focus on 12 communities. With the event growing in influence and popularity, it has established itself as a destination for some of the best polo players in the world, fans of the game, and leading philanthropists.

    The tournament continues to expand for impact with the 2017 edition successfully raising funds to support full and partial scholarships for 12,500 children. It also allows for the provision of community-based projects like boreholes, sanitary toilet facilities and improved classrooms for institutions in the government-run school network – all important indices of the drive to improve rates of enrolment in schools for at-risk children.

    Speaking on the success of the tournament, Access Bank UK MD/CEO, Jamie Simmonds, said: “The way we balance our economic, environmental and social impact while continuing to grow our business and enhance our reputation is an area of key importance to us.”

    “This year we have grown our balance sheet by 26 percent and increased year on year profits by 76 per cent. Our achievements owe much to the strong partnership we have with our parent Bank. Our joint support of this new decade of the Access Bank Group/UNICEF Charity Shield with Fifth Chukker is an evidence of the social and economic value of that partnership,” he said.

    Group Managing Director of Access Bank Plc, Herbert Wigwe. in his remark confirmed that the bank’s continued support for the Fifth Chukker UNICEF initiative is predicated on its role as a change agent in Nigeria and Africa, which can help institute socio-economic development through responsible business practice, social initiatives, and environmental consideration.