The Nation Newspaper

Tag: Ecobank

  • Ecobank donates water facility to school

    Ecobank Nigeria has donated an ultra-modern, multi-million naira water facility project to Abesan Primary School, Alimosho in Lagos State being part of the bank’s Corporate Social Responsibility (CSR) engagements in host communities.

    The project include a borehole, scaffolding water reservoir of 2000 litres;  14 taps points with pumping machines; generating set as source of alternate power supply; 6-room modern toilets facility and renovated portion of the school fence.

    Handing over the facilities to the Management of the school, Business Head, Commercial Banking and Public Sector, Ecobank Nigeria, Rotimi Morohunfola, said the execution of the projects is part of “Ecobank Day” – a day set aside by the bank to reaching out to the communities where it operates as part of its CSR initiative. According to him, this year’s programme is dedicated to promoting safe water for healthy living.

    He said Ecobank believes in making a change in the lives of people within the communities where it does business in order to improve health and to foster economic growth. “We share the view that access to clean, safe drinkable and usable water should not be difficult. We understand the importance of water and its ability to soothe, rejuvenate, and heal,” he said.

    Further, Morohunfola disclosed that the bank was involved in various CSR projects in different schools across the country of which Abesan Primary School is one.

  • Ecobank appoints new Managing Director

    The Board of Directors of Ecobank Nigeria Limited yesterday announced the appointment of Patrick Akinwuntan as the Managing Director designate. The appointment is subject to the approval of the Central Bank of Nigeria (CBN).

    Prior to this appointment, Akinwuntan was the Group Executive, Consumer Banking responsible for leading the Consumer Banking business across Ecobank’s global network of 40 countries, 36 of which are in Africa.

    As a seasoned banker with over 20 years of senior and executive management experience, he has held several strategic positions for the Ecobank Group in Ghana, Togo, and Nigeria. He had previously been a Group Executive Director on the Board of ETI and earlier, Executive Director in Ecobank Nigeria.

    He started his career with Ecobank in 1996 as Head of Commercial Bank and Regional Head in Ecobank Nigeria and since then he has held various senior and executive positions in Nigeria and within the Ecobank Group, including Executive Director, Retail Bank, Ecobank Nigeria, Group Chief Finance Officer, ETI, Group Executive Director, Operations & Technology, amongst others.

    Prior to joining Ecobank, Patrick was a General Manager, Spring fountain Management Consultants, Lagos from 1993 – 1996; Deputy Manager – Corporate Finance, Credit and Marketing, Manufacturers Merchant Bank Plc, Lagos from 1991 – 1993, and; was a Supervisor in Ernst & Young International (Chartered Accountants), Lagos from 1987 – 1991.

    In line with our leadership and business continuity procedures, the outgoing Managing Director, Charles Kie, will continue to manage Ecobank Nigeria throughout the transition period and ensure a smooth handover to Akinwuntan.

    Chairman of the Board of Ecobank Nigeria, John Aboh has congratulated Akinwuntan on his new appointment.  He said: “We warmly welcome Patrick back to Ecobank Nigeria and look forward to providing him with full support from the Board.   I must, once again, extend our most sincere gratitude to Charles for his tremendous contributions to Ecobank Nigeria’s development and wish him every success in his future endeavors”.

  • Ecobank Nigeria gets MD designate

    Ecobank Nigeria Ltd., on Thursday, announced the appointment of Mr Patrick Akinwuntan as the Managing Director designate of the bank.

    The bank in a statement, said through its Corporate Affairs Department in Lagos, that Akinwuntan would replace the outgoing Managing Director, Mr Charles Kie, whose exit date would be announced later.

    The bank said that prior to the appointment; Akinwuntan was the Group Executive Director, Consumer Banking, across the Ecobank’s global network in 40 countries.

    He started his career with Ecobank in 1996 as the Head of Commercial Bank and Regional Head in Ecobank Nigeria and held various senior and executive positions in Nigeria and within the Ecobank Group.

    A fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Akinwuntan also holds a Masters Degree in Business Administration from the Obafemi Awolowo University (OAU), Ile Ife.

    He is an alumnus of the senior executive programme (SEP) of the Harvard Business School, a honorary senior member of the Chartered Institute of Bankers of Nigeria (CIBN) and an associate of the Chartered Institute of Taxation of Nigeria (CITN).

    According to the statement, Mr John Aboh, the Chairman, Board of Ecobank Nigeria, congratulated Akinwuntan on his new appointment.

    “We warmly welcome Patrick back to Ecobank Nigeria and look forward to providing him with full support from the board,” Aboh said.
    “I extend our gratitude to the outgoing Managing Director Charles Kie for his tremendous contributions to Ecobank Nigeria’s development and I wish him success in the future endeavours”.

  • Ecobank takes Xpress Account Concert to UI

    Ecobank will today, take its Xpress Account Concert to the University of Ibadan (UI). The event is in continuation of its youth engagement programme in tertiary institutions across the country.

    A statement signed by Head, Consumer Marketing, Insights & Analytics, Ecobank Nigeria, Ikechukwu Kalu, said the campus concert, which  kicks off at 4pm at the Student Union building sports complex, will feature a popular hip hop artiste,  Slimcase, with celebrity guest appearance by Toyin Aimakhu.

    Kalu also stated that various prizes ranging from laptops, tablets and fridges, among others have been lined up for grabs by winners in the various competitions at the event.

    “This is one concert students and youths around the campus must not miss. It promises to be fun and excitement all the way and besides, many of the attendees will be going home with various gifts,” .

    It would be recalled that Ecobank recently flagged off an initiative, themed ‘Ecobank Xpress Campus Storm’ to avail students of tertiary institutions the opportunity to open the Ecobank Xpress account, a digital account that requires no documentation, minimum balance or paperwork, simply by downloading the Ecobank Mobile app.

     

     

  • Ecobank, Total partner on service delivery

    Ecobank Nigeria is partnering with Total Nigeria Limited to offer agency banking services at Total filling stations across the country.

    The bank will kick off with 100 stations carefully selected to ensure members of the public can carry out their financial transactions such as deposits, withdrawals and account opening at the outlets known as Ecobank Xpress Points. In addition, transfers to Ecobank and other banks, bill payments, airtime top up with ease in the selected locations.

    Announcing the partnership in Lagos, Executive Director, Consumer Banking, Ecobank Nigeria, Carol Oyedeji said the deployment of Ecobank Xpress Points via Total Nigeria locations is an extension of the bank’s distribution and financial inclusion strategy to take banking service to the doorstep of every Nigerian and African.

    She stated that the outlets will offer convenient and accessible financial services in a cost effective and secure manner. She reiterated that Ecobank is determined to extend the reach of its banking services to customers in remote and rural locations with its agency banking initiative. “To deliver our strategy of reaching 100 million customers by 2020, we have created innovative platforms, products and services, which are already serving a much larger customer base,” Oyedeji explained.

    Total Nigeria Plc’s General Manager Sales and Marketing, Adesua Adewole, explained that: “At Total, the team develops our network of service stations everywhere in Nigeria daily, to bring Total closer to its 200,000 daily customers. Becoming real one-stop shops, our 570 stations offer quality products and services tailored to their needs. She stated that the partnership with Ecobank is an illustration of one of Total’s strategies that will strengthen the cashless initiative of the Central Bank of Nigeria (CBN).

     

  • Ecobank supports French Season of African Cultures launch

    Ecobank is supporting the launch of the French Season of African Cultures 2020 in Lagos. The event was attended by President of France, Emmanuel Macron, who praised African culture and its creative industries.

    The event, entitled ‘A Celebration of African Culture’ was held at the New Afrika Shrine – which was the home of the legendary musician and composer Fela Kuti – focused on Africa’s rich and diverse cultural heritage and honoured Africa’s creators of art, design, film and fashion.

    Macron expressed his determination to champion a new narrative about how Africa is perceived and that the African Cultural Season 2020 is one of the ways to project the continent positively. “When I say we need new narratives, what I mean is that we need you people to make these narratives. I see a new generation of artistes, of entrepreneurs, of people coming from civil societies, of journalists, of intellectuals coming from Africa and explaining, speaking about Africa in Europe and everywhere” he explained.

    Managing Director of Ecobank Nigeria, Charles Kie said: “President Macron’s support is indicative of African cultures’ growing international influence. Whether it be blockbuster films such as Black Panther, our global superstars in the music industry, our artworks in the top international auction houses, our models gracing the premier fashion catwalks, or our dance and our food, Africa’s culture is having a huge impact on the global stage”.

  • Old Mutual partners Ecobank on insurance penetration

    Old Mutual General Insurance Company and Old Mutual Nigeria Life Assurance Company have announced a Bancassurance partnership with Ecobank Nigeria, a subsidiary of Ecobank Transnational Incorporated, to offer insurance products and services to existing and prospective customers in Nigeria.

    Old Mutual General and Old Mutual Nigeria Life are subsidiaries of the Pan-African Insurance giant and leading global financial services group, Old Mutual Limited,

    Old Mutual Nigeria Managing Director, Keith Alford said the collaboration, known as the Bancassurance Referral Model, offers Old Mutual an extensive outlet to offer life and general insurance products to Nigerians across 62 Ecobank branches in Lagos, Port Harcourt, Abuja and Ibadan.

    The Bancassurance partnership, according to him, is expected to  extend to 200 branches across Nigeria by 2019.

    He said the partnership, which commenced on June 4, 2018, enjoys the approval of the related industry regulators, the National Insurance Commission (NAICOM) and the Central Bank of Nigeria (CBN), for the sale of insurance products in banks through the Bancassurance Referral Model.

    He said:“The Old Mutual-Ecobank Bancassurance Partnership already exists across eight African countries with Nigeria projected to be the most robust in reach and spread. Having been in partnership with Ecobank on other fronts of our business over the years, this Bancassurance partnership further strengthens the capacity of both financial institutions to offer multiple access points for our various products and services to customers across Nigeria and indeed, Africa.

    “This is very unique and strategic. Through this partnership, Old Mutual will leverage Ecobank’s existing customer base and wide distribution to promote financial inclusion and insurance penetration, while pushing our brand offerings to customers of Ecobank. Customers and corporates with multiple footprints across African markets now have a one stop shop for all their Bancassurance services within the continent.

    Executive Director, Consumer Banking, Ecobank Nigeria, Mrs Carol Oyedeji, who also commented on the partnership, said the bank is delighted to be consolidating its longstanding partnership with Old Mutual in Nigeria.

    She described it as an alliance of brands, whose pan-African agenda and customer delivery objectives align perfectly.

     

     

     

  • Ecobank gets e-payment award at digital pay expo

    Ecobank Nigeria has emerged winner in two award categories, ePayment and Partnership, at the just-concluded Digital Pay Expo in Lagos.

    Digital PayExpo is brings together stakeholders in digital financial services to discuss key issues affecting the payments industry. The event focused on Innovative Financial Services for the unserved segments of the society.

    The bank’s Executive Director, Consumer Banking, Carol Oyedeji, said the awards further attest to Ecobank’s leadership in digital payment solutions.

    He stressed that Ecobank has over the years rolled out various innovative digital products and services targeted at financially, including the unbanked and under-banked on the continent.

    According to her, “We are not in any way surprised at these awards. As a bank, we realised many years ago that payment drives the society and digital banking is the way to go. We put structures in place and today, we have become a clear leader in the industry.”

    Mrs. Oyedeji said the conference was another opportunity for Ecobank to showcase its bouquet of products in digital payments and financial inclusion with innovative financial services for  Nigerians.

    She assured that the bank would continue to pioneer innovations in digital payments.

    According to the organisers, the awards were designed to recognise organisations which have contributed to digital banking.

  • Ecobank signs PPP pact with Kwara

    Ecobank has entered into a strategic partnership with Kwara State government and South Gate Technologies on land administration. This entails the computerisation of the end to end processes of all land related matters in the state as opposed to the manually driven mechanism, which allows for revenue leakages.

    Ecobank and its technical partner, South Gate Technologies, will develop and deploy e-governance solutions for better revenue efficiency. The project is to be executed under the Public Private Partnership (PPP) model of Design-Finance-Deploy- Train and Manage (DFD-TM) with a tenor of five years.

    A Memorandum of Understanding (MoU) with the state and South Gate Technologies was signed in Illorin to signify the commencement of the scheme last week.

    Ecobank Transnational Incorporated (ETI) Group Chief Executive, Ade Ayeyemi, who was represented by Group Head, Cash Management and Client Access, Ecobank Transnational Incorporated (ETI) Isaac Kamuta, said the choice of Ecobank as partner in the digitisation project further attested to the Bank’s pedigree in revenue collection and digital banking technology. He assured that the Bank has put measures in place to ensure the realisation of the set objectives.

    “We are indeed, glad for this opportunity extended to us once again by the Kwara State government. We will make success out of this project just like we did with the Kwara Payroll project. Also, working with our partner, South Gate Technologies, who have the requisite expertise, having embarked on similar projects in some other states, will definitely bring about the expected result,” he said.

    The state governor, Abdulfatah Ahmed, said land administration digitisation was an e-governance initiative meant to introduce efficiency into land administration, create optimal utilisation of wealth and effective deployment of goods and services in the state. The Governor said the reform was giant step towards efficiency in deployment of goods and services to create maximum impact on majority of people through the deployment of technology.