The Nation Newspaper

Tag: Cellulant

  • Cellulant gets finance chief

    Cellulant has announ-ced the appointment of Oluwatoyin Aralepo as its Chief Financial Officer, Nigeria. This announcement was made recently by Mr. Bolaji Akinboro the Co-Founder and Co-CEO of Cellulant Group.

    He said the appointment of Oluwatoyin is consistent with the company’s quest to becoming a robust financial organisation as it continues its journey towards building a $1 billion revenue business.

    According to Bolaji, “Oluwatoyin emerged as the best person for the position of the CFO Cellulant Nigeria and Deputy CFO Cellulant group after a meticulous search process led by International recruitment agencies. We are thrilled to have her join the Cellulant team’’, her experience from the banking & telecoms industry would count in providing strategic financial leadership for the organisation.

    Oluwatoyin is a first class accounting graduate. A Fellow of the Institute of Chartered Accountant of Nigeria (ICAN), Fellow of the Institute of Information Management of Africa and an Alumni of the London School of Business and Finance (LSBF), with over 15 years of cognate work experience across Finance strategy and business partnering, financial planning, analysis & reporting, audit and business assurance, financial  controls and governance. She is a very passionate and entrepreneurial role model to young women.

     

  • Cellulant gets CBN’s payment approval

    The Central Bank of Nigeria (CBN) has issued an approval in principle to Cellulant Nigeria Limited to operate as a Payment Solution Service Provider in Nigeria having satisfied the stringent requirements of the CBN.

    This approval makes Cellulant one of the Payment Solution Service Providers (PSSP) in Nigeria. PSSPs are the companies that make up the underlying e-Payment infrastructure in Nigeria. Banks, Online Merchants, payment processors, merchants, state-governments and consumers connect to PSSPs to meet their electronic payment needs.

    Cellulant is the provider of the Tingg Payment Service & AgriKore Customer Relationship Management (CRM) service that is used by Governments, private sector companies, farmers, merchants in Nigeria & the rest of Africa, Asia to ensure end to end electronic payments in Agriculture and other consumer facing value chains.

    Cellulant’s payment solution is underpinned by highest global security standards. The solution is ISO/IEC 27001& PCIDSS certified and all records are backed up on a blockchain ledger which ensures that accounts cannot be hacked, and records cannot be changed.

    The co-founder and Chief Executive Officer of Cellulant Nigeria, Bolaji Akinboro, stated that this approval will enable the company to extend its payment solutions across all spectrum of Nigeria’s payment system ecosystem.

    According to him, ‘‘Cellulant is a critical component of Nigeria’s Payments system and a key player in delivering the payments systems vision 2020 especially as it pertains to digitising payments within Agriculture and adjacent payment verticals such as transport & logistics. We want to assure CBN and all Nigerians that we will not disappoint them’’.

    Akinboro further stated that ‘‘this approval sets Cellulant into a select group of less than seven companies that operate as PSSPs in Nigeria and will help add millions of economically active but financially excluded Nigerians into the digital payment ecosystem’’.

    Cellulant is a financial technology company that provides the e-payment solution known as “Tingg” and the developer of the world acclaimed e-wallet system that has transformed Agriculture in Nigeria and the rest of Africa. The Cellulant Tingg payment service solution connects everyone to everything, every day. Businesses, banks and government agencies leverage on the Tingg solution to perform the last mile payment for farmers and the unbanked in the rural.

  • CBN grants payment solution service approval to Cellulant

    CBN grants payment solution service approval to Cellulant

    The Central Bank of Nigeria (CBN) has issued an approval in principle to Cellulant Nigeria Limited to operate as a Payment Solution Service Provider in Nigeria having satisfied the stringent requirements of the CBN.

    This approval makes Cellulant one of the Payment Solution Service Providers (PSSP) in Nigeria. PSSPs are the companies that make up the underlying e-Payment infrastructure in Nigeria. Banks, Online Merchants, payment processors, merchants, state-governments and consumers connect to PSSPs to meet their electronic payment needs.

    Cellulant is the provider of the Tingg Payment Service & AgriKore Customer Relationship Management (CRM) service that is used by Governments, private sector companies, farmers, merchants in Nigeria & the rest of Africa, Asia to ensure end to end electronic payments in Agriculture and other consumer facing value chains.

    Cellulant’s payment solution is underpinned by highest global security standards. The solution is ISO/IEC 27001& PCIDSS certified and all records are backed up on a blockchain ledger which ensures that accounts cannot be hacked, and records cannot be changed.

    The co-founder and Chief Executive Officer of Cellulant Nigeria, Bolaji Akinboro, stated that this approval will enable the company to extend its payment solutions across all spectrum of Nigeria’s payment system ecosystem.

    According to him, ‘‘Cellulant is a critical component of Nigeria Payments system and a key player in delivering the payments systems vision 2020”.

  • ATA: Cellulant’s e-wallet processes 70m transactions

    ATA: Cellulant’s e-wallet processes 70m transactions

    The e-wallet technology deployed by Cellulant Nigeria Limited to aid the Federal Government’s Agricultural Transformation Agenda (ATA) in the past three years has processed more than 70 million transactions and has been used to deliver more than 1.3 million metric tonnes of fertiliser and improved seeds.

    The firm that has been at the heart of government’s agricultural transformation programmes has also been commended for the significant roles it is playing in the Federal Government’s ATA.

    In recent times, Cellulant was recognised as Agroinnovator of the Year, at the Agroinnovate Conference, while the Chief Executive Officer, Cellulant Nigeria, Mr. BolajiAkinboro, received the Outstanding Contributor to the Agricultural Transformation Agenda award at the recently concluded Agroivest 2015.

    The recognitions have come as a result of the innovation called e-wallet that was invented in Nigeria by Cellulant Nigeria Limited, under the guidance of President Goodluck Ebele Jonathan and the Minister of Agriculture and Rural Development, Dr. Akinwunmi Adesina.

    It will be recalled that in 2011, Cellulant Corporation, was contracted to develop the technology for the Growth Enhancement Support (GES) Program and also to provide program management support to the Federal Ministry of Agriculture and Rural Development (FMARD).

    Cellulant, within 90 days, not only put the technology together, but led the delivery on the ground in 754 local governments and 87,300 villages. The grip of the cabal that had held Nigeria’s farmers hostage for more than 40 years on the purse of government was broken.

    Based on the success of the GES programme, many local and international industry players have commended it.

    Among them was Chairman, Nigeria Cassava Growers’ Association, Delta branch Mr. Justus Kachukwu,.

    Kachukwu said that GES enabled farmers in the state to receive cassava stems early in the year and promptly plant the crop which have been yielding bumper harvest.

    Similarly, agricultural experts from Tanzania lauded the scheme and have even embarked on understudying it.

    A two-member team led by Damian Gabagambi and Chaboba Nkangwa, who were sent by the Tanzanian Central Government to understudy the operational modalities of GES commended the scheme.

    The government is now evolving this platform into an end-to-end payment system for agriculture called the Nigeria Agriculture Payment Initiative (NAPI).

    “Because of this e-wallet system; Nigerian farmers can now say; “thank God Almighty, We are free at last,” the Cellulant boss said.

  • BoA targets 30m farmers with mobile money services

    BoA targets 30m farmers with mobile money services

    • Signs pact with Kenyan firm

    THE Bank of Agriculture(BoA) and Cellulant of Kenya are targeting 30 million unbanked poor farmers in Nigeria to use mobile money services within the next 18 months.

    Both organisations have entered into a partnership to drive financial services that include mobile money products and services for the unbanked and rural people in Nigeria through an ecosystem product called “cocoon”.

    Managing Director of the BoA, Alhaji Mohammed Santuraki, made this known in Abuja yesterday, at the agreement signing ceremony between BoA and Cellulant.

    Addressing reporters after the ceremony, Santuraki said the “cocoon integrates the unbanked, rural people, banks, micro finance banks, insurance companies, commodity traders, agro-credit guarantee agencies and bilateral institutions together seamlessly in such a way and manner that value and interactions that lift the rural poor out of poverty can take place.”

    The ‘cocoon’, he said, is a bouquet of services and products that leverage mobile payments and near field communications technology to bring savings, micro-loans, micro-insurance, loan aggregation, money transfer, crop-insurance etc to people at the grassroots.

    The cocoon is a Mobile Money Service (MMS) that is expected to broaden BoA’s service/channel offerings to include money transfer, bill payments, mobile banking, micro-insurance payments, mobile wallets, and agency banking.

    The product, he said, would be launched in August with an initial participation base of four million users, more than 3,000 access points and more than 300 micro finance institutions for users across the country.

    Santuraki said the ecosystem initiative has “projected that users within the ecosystem will grow to 30 million over the next 18 months.”

    The BoA chief noted that in the last 10 years, the bank has enjoyed a turnover of about N350 billion in its customer savings accounts.

    He added: “BoA’s plan is that by the time we go live we should be able to provide services in all the local government areas in this country using mobile phone and mobile banking agents.”

    The MMS, he said, would allow customers have the opportunity to enjoy broader base services by layering the payment system to help farmers with money transfers.

    He said they would also be able to access their accounts through a mobile phone, while the bank’s customers will be able to engage in electronic banking transactions using Automated Teller Machines (ATM) cards.

    Group CEO of Cellulant Mr Ken Njoroge said Nigeria has a large domestic market. “Enabling rural poor access to mobile and near field communication-based financial services and products will lift millions out of poverty,” he said.