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Tag: Access Bank

  • Access Bank, Afreximbank sign trade finance pact

    Access Bank, Afreximbank sign trade finance pact

    Access Bank Plc has entered into an agreement with the African Export-Import Bank (Afreximbank) to support and finance key trade-enabling projects in Lagos State to the tune of $1.352 billion.

    The signing ceremony, which took place on the sidelines of the 2023 AfriCaribbean Trade and Investment Forum in Georgetown, Guyana, had in attendance key delegates including the Executive Governor of Lagos State, Babajide Sanwo-Olu; Group Chief Executive Officer of Access Bank PLC, Herbert Wigwe; Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, and more.

    Commenting on the agreement, Herbert Wigwe, Group Chief Executive Officer of Access Holdings PLC, said, “This landmark agreement underscores our commitment to fostering economic growth in Lagos, with a broader view to increase the continent’s trade potential. Through our strategic collaboration with Afreximbank, we are poised to drive more inter-African and intra-African trade and investment, creating a brighter future for all.

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    “In addition to supporting infrastructure, we will also be aiming to improve the levels of food sufficiency in Lagos as well as upscaling the volume of the State’s Internally Generated Revenue (IGR) in order to spur the growth in its GDP and achieve widescale economic resilience. Across the Access Group, we will continue to make deliberate effort towards championing sustainable initiatives that will change the global narrative about Africa and Africans,” Wigwe added.

    Some of the legacy projects highlighted in the collaboration include the Fourth Mainland Bridge, the second phase of the Blue Line Rail, the Omu Creek Project, Lekki-Epe International Airport, and the Lagos Food Systems and Logistics Hub in Epe.

    Speaking at the signing ceremony, Dr. Benedict Oramah, President and Chairman of the Board of Directors, Afreximbank, said “Afreximbank’s partnership with Access Bank to support Lagos State in executing these critical projects is part of our strategy for the African Sub-Sovereign Governments Network. The Network serves as yet another ingenious strategic initiative aimed at firmly establishing an intra-continental trade investment development frontier as it is only through supporting and strengthening trade and investment initiatives at such deeper levels of citizen administration, that Africa be able to fully realise the potential value of its much vaunted 1.3 billion population as a captivating common market for goods and services under AfCFTA.”

  • Access Bank strengthens desk toboost financial inclusion

    Access Bank strengthens desk toboost financial inclusion

    Access Bank has strengthened its Development Banking Desk to drive sustainable development in Nigeria and across the African continent. The Desk is a fall out of the development banking team which has the responsibility of managing Non-Profit organisations and institutions and has been operating in the bank for over ten years and still counting.

    This initiative is in line with the bank’s vision of being the world’ most respected African bank with an unwavering dedication and commitment to fostering positive change, herald development and making a lasting impact in the finance, business, community, organisations, and industry it serves by solidifying its status as a key development finance leader and partner for non-profit organisations and institutions on the continent.

    Speaking to journalists at a recent press conference held at the Bank’s head office in Lagos, Hadiza Ambursa, Executive Director of the Commercial Bank Division at Access Bank, expressed enthusiasm about the revamped Development Desk and its potential impact on Nigeria’s economic landscape. She stated, “Our vision is to drive economic empowerment and financial inclusion by providing specialised financial products and services to businesses, NGOs and institutions.

     Through this initiative, we aim to support and nurture the growth of these entities, fostering a robust entrepreneurial ecosystem in Nigeria and beyond.”

    As the foremost financial powerhouse, we hope to achieve our audacious goals in Development Banking as a preferred banking partner for the non-for-profit organisations already in Nigeria and all other Countries where we have presence and those hoping to come by helping to boost bilateral and multilateral banking relationships, manage the donor funds and the programs the funds are meant for, support projects and initiatives that are channelled towards the common good of the public like charitable activities, climate change,  poverty reduction, improved quality of education, improved health and to play a crucial role in financing projects that contribute to achieving the bank’s goals as well as creating a one stop shop for the unique needs of Not-For-Profit sector.

    Read Also: Access Bank gifts millions of naira on customers

    Also, our dedicated team will assist in writing bespoke proposals for the NGOs and based on market insights we would create new product offerings such as corporate accounts with concessions, conditional cash transfers, primus-plus, Advisory services and services that would resolve new problems arising with the changing market climate while we sustain the desk with data driven market intelligence that will constantly improve our day-to-day collaboration with relevant agencies and engage the relevant stakeholders to understand their challenges, concerns and opportunities to co-create financial solutions that will meet the unique emerging needs of the not-for-profit organisation in Nigeria and indeed across the African continent just as we will advocate for regulatory reforms that best support developmental initiatives and give quality advisory services.

    In the same vein, Head, Development Banking Desk, Ambur Sule, said ”The Development Desk serves as a conduit for global funds and resources, bolstering the bank’s influence in the African region and fortifying Nigeria’s position on the international development stage.”

    Ambur stressed that, “as we move toward a more interconnected world, Access Bank’s role as a development finance leader and partner becomes increasingly vital. Our collaborations with esteemed NGOs and Institutions as a partner are instrumental in driving inclusive growth, deepening financial inclusion, reducing poverty, and boosting infrastructure development in Nigeria.”

    Development Banking Desk is a specialised desk within Access Bank mandated to provide exclusive financial support to Non-Profit Organisations such as International Non-Governmental Organisations, Non-Governmental Organisations, Bilateral and Multilateral Institutions, Donor Agencies, Embassies among others, who strategically carry out projects and initiatives that are geared towards social progress, impact, and economic development.

    Parallel to its achievements in corporate and commercial banking, Access Bank’s Development Desk has set the stage for strategic global partnerships and collaborations that will significantly contribute to Nigeria’s overall development as the Development Banking team and Desk work together with Sustainability team to strictly deal with businesses that comply with the 17 sustainable Development Goals. The bank wishes to leverage its brand, spread and network to expand its market share in the not-for-profit sector.

  • Access Bank gifts millions of naira on customers

    Access Bank gifts millions of naira on customers

    Access Bank is set to splash millions of naira and freebies on its existing and new customers.

    The campaign tagged “Xtrawins, Transact and Win”, that started in October 1, 2023 will run till December 31, 2023.

    Speaking to newsmen at the launch of the campaign at the bank’s head office, Group Head, Consumer Banking, Access Bank, Njideka Esomeju said that the campaign was aimed at appreciating customers for their patronage, and in line with the Bank’s reward campaign objectives.

    She further explained that the campaign focuses on expressing gratitude to customers for their patronage, especially as it has seen a significant rise in engagement and the use of exciting features and services on the AccessMore mobile app.

    “In the spirit of the season, we are going to reward our lucky active customers with up to N250,000 each in our weekly or monthly jackpot when they perform 5 transactions or more using the AccessMore app or our USSD code *901#. They will also enjoy a Zero charge when they pay for electricity and Cable TV bills using the Accessmore app.  It is even more interesting when our customers book a flight with the app, they will receive a N10,000 cashback.

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    “We offer a wide range of exciting features on the AccessMore app to take care of their needs; Just a click on ‘Hire-a-Pro’, customers can hire vetted professionals like accountants, lawyers and artisans like tailor, mechanic to meet their needs. If you are looking to eliminate security and counterfeit currency risk, our instant USD to FX conversions have got you covered. Our thrift or ‘Esusu’ option helps you achieve that target savings with friends and family, and we also provide numerous lifestyle features for your convenience and enjoyment,” Esomeju said.

    Unit Head, Consumer Banking, Access Bank, Adaeze Umeh said the ember months provide the bank with another opportunity to appreciate customers for their loyalty and support for the bank.

    “We value our customers and non-customers who depend on our services to carry out seamless banking activities and we wish them the very best of the season. Just fund and transact on your account and stand a chance to be rewarded,” Adaeze said.

  • Access Bank, EIB okay €50m facility for SMEs

    Access Bank, EIB okay €50m facility for SMEs

    Access Bank Plc and the European Investment Bank (EIB) have signed a memorandum of understanding, to deploy the long-term financing of 50 million euros, aimed at boosting the financial inclusion of young people and women in Nigeria.

    Held with support from the European Union, the execution will contribute to the progress made towards achieving the Sustainable Development Goal number 5, which targets gender equality and empowerment for all women and girls.

    Speaking on Access Bank’s longstanding partnership with the EIB and commitment to sustainable finance, Group Managing Director, and Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, said: “Our collaboration with the European Investment Bank underscores our unwavering commitment to fostering job growth, promoting gender equality, and championing sustainable business practices across all our countries of operation. 

    At Access Bank, we believe in the potential of women as drivers of economic growth, and this partnership reinforces our dedication to that cause. By providing critical financial resources to female entrepreneurs and managers, we aim to not only expand businesses but also uplift livelihoods and drive economic development in Nigeria.

    “As we work towards achieving the national and global development goals, this credit facility exemplifies the shared vision of Access Bank and EIB for a more inclusive and prosperous continent. We look forward to the positive impact this partnership will have on the lives of Nigerian women and the broader economy.”

    The funds will be mobilised by Access Bank to finance eligible investments made by SMEs and mid-caps in sectors such as transport, agriculture value-chain, manufacturing, tourism, and services. It will also be targeting businesses owned, run, employing, or primarily serving women, in accordance with the “2X Challenge” initiative, whose criteria are aligned with the OECD gender objectives.

    Read Also: Access Bank, Visa partner on cross-border payments

    “Since inception, the goal of the “W” Initiative has been to inspire, connect, and empower women with sustainable tools to access true financial inclusion and growth. This is why we are excited about the potential of this agreement with the EIB, as it is a powerful instrument to support women in realising their dreams and aspirations. By providing increased access to funding, we are fostering economic growth and strengthening the foundation of gender equality in Nigeria,” Group Head, Women Banking, Access Bank Plc, Abiodun Olubitan added.

    This execution is testament to Access Bank’s pledge to drive sustainable economic growth that is profitable, environmentally responsible, and socially relevant, while helping customers to access more and achieve their dreams. 

    Over the past 17 years, the Bank has consistently demonstrated its commitment to gender equality and women’s economic empowerment, expending over N246.46 billion in financing for 3,145,319 women.

  • Access Bank, Visa partner on cross-border payments

    Access Bank, Visa partner on cross-border payments

    Access Bank has partnered 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 deal 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.

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    “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 modernisation and service excellence, enhancing Access Bank’s partnership with businesses in Nigeria,” Etuokwu sasd.

    Head, Visa B2B Connect, CEMEA, Vishal Virmani, said Visa was excited with the partnership 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 promotes women’s health

    Access Bank promotes women’s health

    Access Bank’s ‘W’ Initiative- a female-focused, banking-led programme,  is set to hold the fifth edition of its ‘W Health Month Programme’.

    The yearly women’s health month programme aims at promoting sound health among women. This  edition is scheduled for this month.

    The ‘W’ Initiative recognises the importance of women’s health and seeks to make a positive impact on the lives of women in the community. Through the month-long campaign, the bank hopes to raise awareness about the significance of regular health check-ups, preventative care, educate women on health-related concerns and elevate the overall quality of healthcare available to women.

     Group Head, W Initiative, Access Bank Plc, Abiodun Olubitan, said the bank has consistently led the way in empowering women and its commitment has remained steadfast.

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    “This October, the ‘W Initiative’ has planned a series of activities to empower millions of women across the country through expert health insights, education, and health screening opportunities.

    “These include free cervical cancer screenings, free hepatitis B screenings, discounts on annual health packages, informative health talk sessions at our branches, a complimentary virtual therapy session on World Mental Health Day, an engaging W health webinar on PCOS, sexual wellness and menopause, free eye screenings in observance of World Sight Day and a wide array of other inspiring events to support the health journey of our female clientele,” Olubitan said.

    Olubitan noted that the campaign aligns with the bank’s commitment to social responsibility and empowering women in the community.

    “We firmly believe that when women are healthy and well-informed, they are better equipped to achieve their personal and financial goals. Join us in our mission to promote women’s health and well-being. Together, we can make a difference in the lives of women in our community,” Olubitan said.

    Olubitan reiterated that the bank’s ‘W Initiative’ remains committed to promoting healthcare accessibility for women and has continually done so through the Maternal Health Service Support (MHSS) – a discounted health financing product created specifically to enable payment of medical bills for fertility treatments, natal support, and other specialised procedures making access to quality healthcare easier and convenient for women and their families.

  • Fed Govt, Access Bank list N30.3b bonds

    The Federal Government has listed its latest issuances under the Federal Government of Nigeria Savings Bonds (FGNSB) on the Nigerian Stock Exchange (NSE). The Federal Government listed two new issues totalling N295.94 million.

    The listing of the sovereign bonds came a day after top-tier bank, Access Bank Plc, listed a corporate bond valued at N30 billion.

    The new listings by the government included a two-year N91.11 million 11.15 per cent series 60 bond, which is expected to mature in September 2021 and a three-year N204.83 million 12.15 per cent bond due to mature in September 2022.

    Access Bank listed a N30 billion seven-year 15.5 per cent fixed rate subordinated unsecured bond, which is due to mature in 2026.

    The Federal Government had, in March 2017, introduced the Federal Government of Nigeria (FGN) Savings Bond (FGNSB) to woo retail investors to the sovereign debt market and deepen capital formation. The minimum subscription was fixed at N5,000 while the maximum was pegged at N50 million. With a fixed quarterly interest payment of above 13 per cent, the FGNSB offers guaranteed return.

     

  • Access Bank warns against fraudsters

    Access Bank at the weekend warned its customers to be vigilant as fraudsters design ways of defrauding them.

    In an emailed report, the lender warned customers to ignore messages purporting to emanate from the bank to purchase debit or credit card.

    “You may have received unsolicited offers to purchase your debit or credit card. Please ignore this request as it is intended to defraud you. Access Bank will never offer to buy or retrieve any personal banking items from you . If you receive such a request, please report this incident to us immediately,” the bank warned.

    It gave tips that will help customers to protect their card and personal information to include not sharing their PIN or giving their cards to anybody.

    “Do not share your account number, the security number on the back of your card or card expiry date with anyone. Never generate a token or OTP for anyone via telephone, email, SMS, live chat or social media. “If your card is lost or stolen please call the contact centre immediately. Never share your account information or your personal banking details including Biometric Verification Number (BVN)  via SMS, email, or telephone.

    “Remember, if you have any suspicions, please call our 24-hour contact centre, send an email or is it your closest branch,”  the email report said.

  • Access Bank CEO, Wigwe’s quiet achievements

    Managing a financial institution as big as Access Bank may look like a piece of cake but if one considers the banks that have run into trouble in the past years in Nigeria, one will start to appreciate the contributions of Herbert Wigwe to the banking industry and Nigeria as a whole.

    Wigwe, who is the Group Managing Director and Chief Executive Officer of Access, has done enough to be called an icon in the industry. The recent achievement was the successful merger of Diamond Bank with Access Bank, which made their operations bigger.

    When in 2002, Wigwe and his business partner, Aigboje Aige-Imoukhuede, acquired a small commercial bank, Access Bank, only a few would anticipate where the bank is today. But like prophets who see tomorrow, they both saw the future and grabbed it. Access Bank is now one of the biggest banks in Nigeria and its impact is felt beyond the shores of the country too.

    Since succeeding his business partner, Aig-Imoukhuede, in January 2014, the bank has grown in leaps and bounds. He has also helped to develop companies in the construction, telecommunications, energy and oil and gas sectors by providing financial support and expertise.

    Also, Wigwe, Access Bank and UNICEF, have a collaboration in place to offer support to vulnerable children, orphans and internationally displaced persons in the northern part of Nigeria.

    Married to Chizoba, he is blessed with four 4 children – Chizi, Tochi, Hannah and David.

  • Access Bank, MTN train kids on savings

    Access Bank Plc has collaborated with MTN at the mPulse planet to educate pre-teens and teenagers on the importance of good savings culture through fun and innovative methods.

    The event, which held at Landmark Event Centre, Victoria Island, Lagos, saw children taking part in gamified learning platforms, such as Dreamville.ng – a community where children can learn about managing money and other financial instruments – while also providing them with exciting attractions and activities to enhance early savings culture.

    Group Head, Consumer Banking, Access Bank Plc, Adaeze Ume, explained that the bank is committed to engaging and empowering young Nigerians for the future by investing in their knowledge, improving their capabilities, and also designing specific products and services that give them access to more.

    “From our gamified platform Dreamville.ng, to Early Savers and Solo products, we are committed to helping the youth imbibe a healthy savings culture from an early age. This event reflects Access Bank’s obligation to our young customers by improving financial literacy and encouraging learning in a fun way. For example, users can earn points, badges, and rewards on Dreamville.ng for positive financial behaviours, especially by managing finances and budgets, setting savings goals and achieving them,” she said.

    The new initiative from Access Bank leverages digital innovation and technology to enhance customer experience and driving financial inclusion while building on its ‘More than Banking’ promise.