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Tag: Access Bank

  • Winners emerge at Access Bank new Diamond Xtra season launch

    Winners emerge at Access Bank new Diamond Xtra season launch

    Access Bank, on Thursday, launched new season of its Diamond Xtra draw in Ibadan, Oyo State capital.

    The draw, which is its 16th edition, is said to have three SUVs, and N200 million doled out to lucky customers as well as over 15,000 customers emerging as winners the reward scheme across the country.

    The event had in attendance representatives from regulatory body such as the National Lottery Regulatory Commission and the Federal Competition and Consumer Protection Commission, to monitor the draws to ensure transparency.

    Speaking at the event, the Regional Sales Manager, Bolaji Aboderin, in his address, confirmed that the draw is targeted towards the 36 states, having held the Lagos edition last week.

    According to Aboderin, “the new season will bring more goodies to the customers as the bank has taken their interest at heart.

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    “We are here today for the 16th season of the DiamondXtra draw. This is just a scheme in place whereby the bank is trying to give back to our loyal customers. It is a form of saying thank you, it’s a reward system to encourage saving culture.

    “We enlighten them on the values, essence and advantages of savings. When you save, it gives so much advantage. We’re trying to inculcate that saving culture. Some of our customers are buying into it and it’s a mutual relationship so we use this initiative to give back to the society. Our customers have shown so much loyalty.

    “The draws are in diffent stages. There are regional, state and national draws. We just finished the last one in Lagos, and when we finish here in South-West, we will move to the South-East and North. It’s a nationwide event.”

    The grand prize winner of N200,000, Nurudeen Bayo Razak, expressed excitement on winning the cash prize and appreciated the efforts of Access bank in giving back to its customers.

    He said, “God bless Access bank for the initiative. I am so happy today. I’ll tell my colleagues and friends to open Access accounts”

    One of the winners, Ajayi Fadeke, appreciated Access bank for the reward saying, “I never expected it. It’s really amazing, being gifted cash at this time.

    DiamondXtra is an interest yielding hybrid account which is opened with a minimum of N5,000 and allows deposit of both cash and third-party cheques not more than N2m. Hybrid means a combination of both savings and current account features.

  • Access Bank acquires Kenya’s major bank

    Access Bank acquires Kenya’s major bank

    Access Bank Plc, the flagship subsidiary  of Access Holdings Plc, has entered into a binding agreement with Kenyan-based KCB Group Plc (KCB) for the acquisition of the entire issued share capital of National Bank of Kenya Limited (NBK) from KCB.

    NBK is one of Kenya’s major banks with total assets in excess of $1.1 billion. KCB is also the holding company of KCB Bank Ltd, Kenya’s largest commercial bank.

    The parties will be working together in the coming months to fulfil the conditions precedent relating to the Transaction, which include the regulatory approvals of the Central Bank of Nigeria (CBN) and the Central Bank of Kenya.

    Sequel to the completion of the transaction, NBK would be combined with Access Bank Kenya Plc to create an enlarged franchise in the pursuit of Access Bank’s strategic objective for the Kenyan and East African markets.

    In a regulatory filing yesterday, Access Holdings, stated that the proposed acquisition was in furtherance of its African expansion strategy and will reposition Access Bank as a stronger and significant player in the Kenyan market whilst serving as a regional hub for the East African bloc anchored by a solidified balance sheet.

    Acting Group Chief Executive Officer, Access Holdings Plc, Ms. Bolaji Agbede said the proposed acquisition marks a significant step in the execution of the group’s five-year strategic plan aimed at positioning the bank as Africa’s gateway to the world.

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    “The deal with NBK, a historically strong and well-known bank in Kenya with a balance sheet in excess of $1.1 billion, presents a compelling opportunity to scale up our growth in the East African market. We remain confident that our investments towards diversifying and strengthening the bank’s long-term earnings profile will deliver significant value for our shareholders, customers, and wider stakeholder groups,” Agbede said.

    The latest transaction comes on the heels of recent other acquisitions talks. Access Bank had sealed a deal to acquire the majority equity stake of about 80 per cent in Uganda’s Finance Trust Bank (FTB).

    The deal will see Access Bank concurrently acquiring the shares held by FTB’s Institutional Shareholders who have sought to exit to a strategic, long-term shareholder.

    The transaction is, however, subject to regulatory approvals by the Central Bank of Nigeria (CBN) and Bank of Uganda. It is expected to close in the first half of the year, following the fulfilment of customary conditions precedent.

    Following the anticipated closing of the transaction, Access Bank would own an estimated 80 per cent shareholding in FTB.

    Access Bank had earlier this year completed the acquisition of Atlas Mara Zambia in a major move that uplifted the Access Bank Zambia to one of the top five banks in Zambia.

    With the completion of acquisition, Atlas Mara Zambia, otherwise known as African Banking Corporation Zambia Limited, became a wholly owned subsidiary of Access Bank Zambia (Access Zambia).

    Access Zambia is a subsidiary of Access Bank Plc, the flagship subsidiary of Access Holdings Plc.

    Access Holdings had indicated that the integration of Atlas Mara Zambia into the operations of Access Zambia is underway. The integration of the two banks will make Access Zambia one of the top five banks in the country.

    Access Bank had also recently partnered with Visa, the world leader in digital payments, to enhance the efficiency of cross-border business-to-business payments, a partnership that will facilitate cross-border payments to some 110 countries globally.

    Access Bank’s corporate, commercial and small and medium enterprises (SMEs) customers will be able to adopt Visa B2B Connect platform to send and receive payments to and from 110 countries worldwide in a faster, more efficient and more secured way, thus facilitating seamless global business operations.

  • Access Bank to empower 700,000 MSMEs with N50b loans

    Access Bank to empower 700,000 MSMEs with N50b loans

    Access Bank has launched a N50 billion campaign aimed at empowering more than 700,000 micro, small and medium enterprises (MSMEs) across the country.

    The N50 billion loan facility for MSMEs tagged “YouThrive” was unveiled at the bank’s head office in Lagos.

    Deputy Managing Director, Access Bank, Mr. Victor Etuokwu said the MSMEs that would benefit from the programme would undergo trainings to enable them optimally make use of the loan.

    According to him, the N50 billion MSMEs empowerment would not just be about lending, but also included various capacity-building activities, with curriculum that centres on technology, creatives, business management and skill acquisition.

    “Access Bank is set to financially empower over 700,000 youth MSMEs and to achieve this, we have set aside N50 billion to lend to them at a huge, discounted interest rate. To be eligible to access this loan, all applicants must be within the ages of 21 to 40 years.

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    “The Youthrive’ is a transformative initiative designed by Access Bank to empower, uplift, and accelerate the next generation of MSMEs. In the next four years we will empower four million youths, one million per year,” Etuokwu said.

    At the inaugural job creation and MSME quarterly communications forum, hosted by the Senior Special Assistant to the President on Job Creation and MSME held recently in Abuja, the bank provided further details on the N50 billion MSMEs campaign.

    Speaking at the forum, Head, Emerging Businesses, Access Bank, Chioma Ogwo,  said the bank has business exchange programme for the beneficiaries that would enable the MSMEs to go and exchange ideas with their counterparts in other countries.

  • Access Bank eyes top three in Zambia with new acquisition

    Access Bank eyes top three in Zambia with new acquisition

    Access Bank Plc has completed the acquisition of Atlas Mara Zambia in a major move that uplifted the Access Bank Zambia to one of the top five banks in Zambia.

    With the completion of acquisition process, Atlas Mara Zambia, otherwise known as African Banking Corporation Zambia Limited, has become a wholly owned subsidiary of Access Bank Zambia (Access Zambia).

    Access Zambia is a subsidiary of Access Bank Plc, the flagship subsidiary of Access Holdings Plc.

    In a regulatory filing, Access Holdings indicated that the integration of Atlas Mara Zambia into the operations of Access Zambia is underway. The integration of the two banks will make Access Zambia one of the top five banks in the country.

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    Group Chief Executive, Access Holdings Plc, Mr. Herbert Wigwe, said Access Zambia’s target is to become one of the top three banks in Zambia by 2027.

    “This marks a significant milestone for Access Bank as we work towards achieving our vision of being the world’s most respected African bank. We are poised for success by harmonising the robust brands, rich heritage, shared values and best practices of both companies to create opportunities for all our stakeholders in Zambia and the SADC region,” Wigwe said.

     According to him, Access Zambia aims to play a pivotal role in driving the country’s economic growth, offering innovative and professional products and services to both the corporate and retail segments.

    Access Bank recently partnered with Visa, the world leader in digital payments, to enhance the efficiency of cross-border business-to-business payments, a partnership that will facilitate cross-border payments to some 110 countries globally.

    Access Bank’s corporate, commercial and small and medium enterprises (SMEs) customers will be able to adopt Visa B2B Connect platform to send and receive payments to and from 110 countries worldwide in a faster, more efficient and more secured way, thus facilitating seamless global business operations.

    Deputy Managing Director, Access Bank, Victor Etuokwu, said the partnership signifies Access Bank’s commitment to digital innovation and providing best-in-class services to SMEs and large corporate clients.

    According to him, the collaboration will enhance customer experience and develop commerce across various trading corridors by providing businesses with cross-border payment services that are cost-effective, efficient, reliable, and secure.

    “Access Bank has the vision to be the bank of first choice, offering innovative financial services, built on trust and driven by a passion for excellence. The partnership with Visa brings innovation to the forefront and provides our clients with the latest technology advancements to meet their changing needs.

    “Access Bank’s Visa B2B Connect enrolment will help strengthen businesses in Nigeria by delivering fast, transparent, and secure payment services. The bank’s participation in the Visa B2B Connect platform contributes to technology modernization and service excellence, enhancing Access Bank’s partnership with businesses in Nigeria,” Etuokwu said.

    Head, Visa B2B Connect, CEMEA, Vishal Virmani, said Visa was excited with the partnership with Access Bank as it opens a new frontier across the West African region.

    “With Access Bank’s addition to Visa B2B Connect, we are excited to launch the platform in Nigeria and West Africa to benefit businesses and the cross-border payments eco-system in the country. The solution supports digital innovation and increases efficiency for financial institutions and their corporate clients,” Virmani said.

    Virmani said Visa B2B Connect is an innovative, non-card-based multilateral platform delivering B2B cross-border payments to 110 countries worldwide that are predictable, secure, and cost-effective for financial institutions and their corporate clients.

    General Manager, Nigeria and Cluster Head of West Africa, Visa, Andrew Uaboi explained that although many businesses may find cross-border payments complex, Visa B2B Connect creates predictability and transparency for customers, providing key insights for strategic decision-making and business planning.

    “Technology is bringing us closer together; yet, when it comes to small businesses and corporate clients moving money around the world, there are challenges that remain that haven’t been solved.

    “As Access Bank join the Visa B2B Connect network in Nigeria, The bank’s collaboration with Visa will help businesses in the country to send and receive international payments quickly and securely,” Uaboi said.

    He outlined that with its one-to-many connection, Visa B2B Connect helps to reduce the number of correspondent transfers required to process a payment, which allows for more cost-effective cross-border transactions and provides both corporate financial institutions and their customers a transparent view of fees associated with each transaction helping the companies to manage their cash flows.

    He added that Visa B2B Connect platform can also be used to send payments to out-of-network banks.

  • Access Bank, SPDC, Lotus Bank lift P’Harcourt Polo

    Access Bank, SPDC, Lotus Bank lift P’Harcourt Polo

    Preparations for the forthcoming 2024 Port Harcourt polo tournament has received  support  of  corporate giants, state governments and individuals who have all signed up to the prestigious polo festival  billed to blast off from January 14 at the old GRA Polo Ground in the Garden City.

    Led by Access Bank, Lotus Bank, Shell Petroleum Development Company (SPDC) and Deep Offshore Shipping Company, the corporate sponsors include the Rivers State government, OK Isokariai, Chairborne Global, De Chico Group, Keeves Global Leasing, Wiltten Aviation, and Strickland Services, among others.

    President Port Harcourt Polo Club, Ebi Diriyai, confirmed, stating that preparations to host the international polo event with the theme: “Bonding Beyond Challenges” is “In fulfillment of our commitment to deliver the best and biggest Polo tournament that will place Rivers and Nigeria on the map of global reckoning for sports, tourism and business.”

    “While we appreciate our esteemed sponsors for this robust partnership and several others, we want to declare that the 2023 tournament is still open for both local and international business partnership participation,” Diriyai declared.“The polo tournament will portray Rivers State and indeed the Niger Delta Region in positive light and on our part, we will be ready to offer a lifetime experience to players, our sponsors and visitors alike.”

    The President promised, adding since assuming office in July this year, the management committee has been working round the clock to organise a great event.

    As part of the elaborate plans to host a befitting polo tournament, the club has been consulting with stakeholders, corporate sponsors and benefactors of the foremost polo club that was established in 1972 as the premier polo club in the entire South East and South South regions of the country.

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    Diriyai also noted that the tournament, apart from deepening the popularity of polo in the region, the weeklong long event will also showcase and celebrate the cultural heritage and the peaceful nature of Rivers state and the Niger Delta.

    As one of the biggest polo tournaments in Africa and the most prestigious polo festival and the first polo event of the year in the country, enthusiasts are in for a special treat as players and horses match talents and wits in what promises to be a weeklong of intense, invigorating polo at the highest level.

    Deputy Captain and Deputy Tournament Manager, Dr. Ikenna Nebolisa declared that the stage is set for a memorable tournament, assuring that Port Harcourt Polo Club has one of the best polo pitches in Africa.

    Dr. Nebolisa who hinted that over twenty top teams across the country are expected to vie for honours during the fiesta insisted that the lush green turf of the Old GRA Polo Ground in superb state for superb and exciting matches among the participating teams that would thrill polo buffs from start to finish.

    The teams that would be converging in the Garden City for the festival include former champions, ambitious new comers, regulars and Port Harcourt based teams like the Nigerian Navy polo team that would be defending both the Lulu Briggs Cup and the T.Y.  Cups they won last year.

     Checks revealed that major prizes at stake during the festival include King Diette-Spiff Cup which is the event’s biggest prize, OB Lulu Briggs Cup and T.Y Danjuma Cup, and King T.J.T Princewill Cup, among others.

  • Access Bank donates four-class room block to Ogun community

    Access Bank donates four-class room block to Ogun community

    As part of its corporate social responsibility engagement, Access Bank Plc has donated a block of four classrooms to Otun High School, Otun-Akute.

    The project, which was sponsored by the Conduct and Compliance Group of the bank, was unveiled by the Special Adviser (SA) on Primary and Secondary Education, Ogun State Ministry of Education, Mrs Ronke Soyombo.

    Welcoming guests to the occasion, the principal of the school, Mrs Caroline Dada, declared: “We are here today to commission the magnificent project, which to the glory of God is the handiwork of Access Bank Plc.

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    She heaped praises on the project sponsors by saying, “I want to, however, appreciate the relentless and sacrificial efforts of the Conduct and Compliance Group of Access Bank Plc as they were never tired as a result of their commitment to the community.”

    She pleaded with the Ogun State government for approval as it is currently being run by the community.

    The body of students of the school expressed their appreciation in a speech read by a Junior Secondary School student, Rita Okeke, thus: “We appreciate the Conduct and Compliance Group of Access Bank for the donation of this building for our use, as this will ease the challenge of overcrowded classes in the school, which has a negative impact on our learning. It will also put an end to going to far places to get secondary school as there is none but this in the community currently.”

  • Access Bank unveils yuletide rewards for customers

    Access Bank unveils yuletide rewards for customers

    Santa came early for Access Bank customers as the bank has unveiled rewards and discounts on its products to excite and enhance the joy and spirit of the festive season.

    The campaign will reward customers with cash prizes up to N1 million, shopping vouchers, huge discounts and exciting freebies till the end of December 2023.

    Speaking at the launch of the campaign, Group Head, Consumer Banking, Njideka Esomeju said it was the season of giving, proving the bank another opportunity to demonstrate its love and appreciation for customers for their loyalty and support  to  the bank.

    “We are using this opportunity to thank our customers for their commitment to Access Bank. We value our customers and non-customers who rely on our services and products to conduct seamless banking activities, and we wish everyone the best of the season.

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    “In this month of December, our customers will enjoy Zero Charges when they make electricity and DSTV bill payments on the AccessMore mobile app. We will also be rewarding 100 customers with N10,000 shopping voucher when they perform a minimum of 5 transactions above N1,000 on the AccessMore App.

    “Our card users are not left out of these goodies. They get to enjoy 8.0 per cent discounts on hotel staycations on bookings.com. For our DiamondXtra customers who save a minimum of N5,000 or more, they stand a chance to win our loyalty reward of N1million while there’s also free digital marketing training for the first 1,000 winners.

    “That’s not all. Our Xclusiveplus customers are not left out as the bank will reward new customers with Free 20GB data bundles valid untill the 15th of December 2023, Up to 5% discounts off purchases on Konga and treats at all our  in-branch and airport lounges locations nationwide. Our ‘W’ Initiative will also reward women with discounts on driving lessons from FRSC accredited driving schools,” Esomeju said.

  • Access Bank lifts community school

    Access Bank lifts community school

    As part of its corporate social responsibility engagement strategy with its host communities, the Internal Audit Department of Access Bank at the weekend donated learning materials to the pupils of Wright Memorial Primary School, Palmgroove, Somolu, Lagos.

    Justifying the need for the CSR engagement, Group Head, Internal Audit, Access Bank Plc, Omobola Faleye, who led the team from the bank, said this was in keeping with the bank’s commitment to its host communities wherever they reside.

    The bank presented 250 items, including school uniforms, branded school bags, sandals, stationeries and books to aid learning in the school.

    On how the school came to be selected, Faleye said one of its branches domiciled within the neighbourhood served as the go-between.

    “As part of our annual CSR activities, we usually carry out different programmes. For this school in particular, our branch office has some engagement with them and when we carried out need-based analysis we decided to support the school how best we can,” she said.

    She added: “Apart from what we’ve done now, we have also seen some other areas of need that they have so we’re going to be with them for sometime to try and support them in those areas that we have identified. Therefore, we will stick with them for another one year to make sure that those areas are addressed.’’

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    Speaking earlier, the Executive Secretary of the State Universal Basic Education Board (SUBEB) in the Education District, Mr. Dare Onokoya, who was represented by Alhaji Tajudeen Lawal, impressed on the parents of the pupils on the need to enroll their wards in public schools, stressing that their children stand to gain more in terms of improved learning outcomes.

    On own part, Dr. Mrs Bunmi Olabor, said public schools in Lagos were doing excellently well compared to their counterparts elsewhere, even as she expressed a debt of gratitude to the bank for its generous donations.

    Echoing similar sentiments, the head of the school, Mrs. Martina Effiong Akpan, was effusive with praises as she expressed immense joy at the bank’s gestures, noting that the school which was set up in 1947 had gotten a new lease of life thanks to the support from public spirited Nigerians like the bank.

    According to her, when the bank approached the school initially they wanted to construct some blocks of classrooms but she had to prevail on them to cater for what she considered a more pressing need.

    “It’s a very heartwarming experience for the school and this would definitely impact learning very tremendously. Before now, I’m the one that used to provide books for the pupils because most of them come to school with nylon bags with no books to learn. But with these donations now, our pupils are eager to resume for the next term because they will be so neat. So, we’re indeed very grateful to Access Bank for what they have done.”

    The highpoint of the occasion was cultural performances talents display by the pupils of the school to the admiration of the audience and guests at the forum.

  • Access Bank partners Asolar on green energy for SMEs, others

    Access Bank partners Asolar on green energy for SMEs, others

    • Initiative to drive financial inclusion

    Access Bank Plc and Asolar- a sustainable energy firm, have launched a green energy solution to tackle power supply challenges faced by small and medium enterprises (SMEs) and rural communities across the country.

    The products under the energy solution included solar-powered television, air conditioners, and Point of Sales (PoS) machines among many others. These were launched at the Access Bank Branch in Garki, Abuja.

    Speaking during the unveiling ceremony tagged: Light up your community, Deputy Managing Director, Access Bank, Victor Etuokwu, said inconsistent power supply has become a major obstacle to businesses and livelihoods in the country.

    He said the initiative was aimed at promoting financial inclusion in rural areas.

    He  noted that dependable electricity is a fundamental prerequisite for implementing modern financial services like digital banking and payment systems, particularly in underserved rural areas.

    “This inconsistent power supply poses a substantial challenge for small and medium enterprises (SMEs) as well as initiatives aimed at promoting financial inclusion in rural areas, which is considered a yardstick for economic growth in Nigeria.

    “Currently, in Nigeria, owners of SMEs and people living in rural communities with no or little power supply, spend huge sums in procuring generating sets, purchasing fuel, and the maintenance of generators to operate their business successfully,” Etuokwu said.

    According to him, in the broader context of financial inclusion, the absence of power accessibility becomes a critical barrier.

    Represented by Director, Regional services, Access Bank, Neka Adogu, Etuokwu pointed out that disparity in power access widens financial gap, impeding initiatives aimed at providing banking and financial services to those who are most in need.

    “Through this partnership, we embark on a transformative journey to introduce cost-effective and dependable solar-powered solutions tailored specifically for small and medium businesses.

    “By harnessing the potential of solar energy, we aim to untether these businesses from the shackles of unreliable power sources and offer promising alternatives to traditional generators reliant on expensive and polluting fossil fuels.

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    “By providing access to affordable solar-powered solutions, we endeavour to significantly reduce operational costs, enhance productivity and catalyse growth for these enterprises.

    “Access Bank PLC’s collaboration with ASOLAR is not merely transforming power solutions; it is utilising our Access CLOSA Agent Network platform as the digital payment provider,” Etuokwu said.

    Chief Executive Officer, Asolar, Hakeem Shagaya, said the company was committed to ensuring every citizen has access to reliable and sustainable energy across the country.

    While appreciating the management of the bank for the collaboration, Shagaya noted that the initiative was in line with the sustainable development goals on clean and renewable energy.

    “As we embark on this journey towards Access Green Energy, let us not overlook the profound impact on our environment. This initiative is not just about illuminating homes; it is about lighting the way for a greener and cleaner tomorrow.

    “The Solar Home Systems represent a commitment to environmental stewardship, reducing carbon footprints, and actively contributing to the global fight against climate change.

    “The positive environmental impact extends beyond emissions reduction, encompassing the preservation of ecosystems, the promotion of biodiversity and the creation of a more sustainable and resilient planet for future generations,” Shagaya said.

    Group Head, Financial Inclusion, Access Bank, Chizoba Iheme, said the bank has over 300,000 Access agents across the country to facilitate the distribution across Nigeria.

    Iheme explained that the initiative was generally geared towards proffering a lasting solution to the problem of power faced by SMEs across Nigeria; especially those situated in rural areas, noting that the partnership is expected to enhance business sustainability and growth amongst SMEs across Nigeria.

  • Access Bank, Fed Govt okay N30b support for MSMEs

    Access Bank, Fed Govt okay N30b support for MSMEs

    In line with its commitment to support women and youth-owned businesses in Nigeria, Access Bank Plc, has partnered with the Federal Government of Nigeria to provide N30 billion in support for four million Micro, Small and Medium Enterprises (MSMEs).

    The Group Managing Director/Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, made this known in an interview with the press after a meeting with the Vice-President, Kashim Shettima at the Presidential Villa, on Friday in Abuja.

    “This initiative echoes our longstanding commitment to inclusivity, and we are privileged to align our efforts with Office of the Vice-President’s mandate to prioritise the empowerment of women. We are thankful to the Vice-President for granting us the opportunity to partner with the Federal Government. Indeed, his shared belief in the potential of women and his support through this partnership gives us significant impetus to do more.

    “With more than 66% of the Nigeria’s MSMEs owned by women and youths, challenges including access to finance, education and mentorship remain prevalent. To bridge these gaps, we have designed four different programmes to benefit no fewer than four million individuals and businesses across Nigeria,” he said.

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    On his part,  Senior Special Assistant to the President on Job Creation and MSMEs, Office of the Vice-President,  Temitola Adekunle-Johnson, reiterated the readiness of the Federal Government to partner with the private sector to support SMEs.

    He said: “President Bola Ahmed Tinubu has told the entire world that Nigeria is ready, and our doors are open for partnerships that will be of benefit to the populace. Women are a key We recognise the need for public-private collaborations in fostering progress, so this partnership with Access Bank has come at the right time. We expect the programme to commence very soon, and we are excited for the opportunities that it will afford MSMEs.”

    Ogbonna also emphasised that all beneficiaries will be accessing the funds at discounted rates and expressed excitement at the opportunity to deepen Access Bank’s scope of impact as it continues playing its part in fostering sustainable and inclusive growth.