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Tag: Patrick Akinwuntan

  • Ecobank chief asks bankers to reposition for challenges

    THE Managing Director, Ecobank Nigeria, Patrick Akinwuntan has called on bankers to  reposition their skillsets and knowledge-scope in order to meet with the challenges of a fast-changing business environment and marketplace.

    Akinwuntan, who was the guest speaker at the 2019 graduates induction & prize award event of the Chartered Institute of Bankers of Nigeria (CIBN), in Lagos at the weekend gave this advice in his presentation titled: “Repositioning for Relevance in a Competitive Environment”.

    He said the banking sector was undergoing significant disruptions in a bid to remain relevant, increase convenience, productivity whilst ensuring banking is simple for individuals and businesses alike. Stressing that bankers must respond through repositioning, adoption of and adaptation to potentially disruptive technologies in their career models and strategies.

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    The Managing Director explained that Ecobank Nigeria, which is a member of Pan African bank, Ecobank Transnational Incorporated (ETI)  based in Togo is already repositioning its entire workforce for the Millennial age through various trainings, skills development and capacity building, stating that the Bank has made many pioneering achievements and ‘firsts’ across various products and digital platforms in the country in line with its repositioning efforts. “Only recently, the Chartered Institute of Bankers of Nigeria (CIBN) accredited our state of the art training Academy which runs the Entry Level Development, Graduate and Management Trainee programs.

     

     

  • Ecobank to focus on women entrepreneurs

    The Managing Director, Ecobank Nigeria, Patrick Akinwuntan, has said female entrepreneurs with focus to build shopping empires will be considered for credit facilities in the bank.

    Akinwuntan spoke during the unveiling of a new initiative tagged: “Ecobank Female Entrepreneurs Initiative” which recently held in Lagos.

    Some of the benefits include access to credit facilities with little or no collateral, network opportunities across Africa, financial advisory services, wealth management resources and loyalty schemes.

    The initiative was designed to provide women with the necessary support to help them excel in their endeavours, promote and grow their businesses and generally position them for increased participation in the economy of the nation.

    It was also part of activities of the commercial bank to mark this year’s International Women’s Day and also  recognise women as special and unique customers who require tailor-made service offerings.

    He said: “Increasingly, we are seeing the change in the attitudes of women, and their economic viability as individuals and leaders in their fields. Their banking and financial services as a whole therefore present vast opportunities, if properly understood and managed.”

    According to Akinwuntan, the launch is a charge to the society in line with the theme of the International Women’s Day 2019, to challenge the status quo and strive for a balance by empowering females in their immediate environments and subsequently, on a macro level.

    In his words: “Our female customers will become our flagship ambassadors and we have created this platform for them in line with the sustainability requirements of the Central Bank of Nigeria (CBN). These women will be provided with free health checks, training and empowerment sessions and other support tools from Ecobank. The Ecobank Female Entrepreneurs Initiative aims at empowering women by helping them build capacity to grow their businesses.”

    The  Executive Director, Commercial Banking, Mrs. Carol Oyedeji, stated that Ecobank was proud to join the rest of the world to commemorate the Day with the special theme #BalanceforBetter.

    She remarked: “This year’s theme leaves no one in doubt as to the dire need to raise more awareness that gender balance is not a women’s issue but a human issue that must be tackled for us to have a better society and that it should not be mistaken for a battle between the sexes.”

    She called on corporate bodies to ensure women attain their full potential in all areas of society, including the workplace, which she said is vital to the communities and economies to thrive. “A balanced world is a better world. We must help forge a more gender-balanced world by celebrating and recognising women’s achievements, raising awareness against bias and taking action for equality,” she added.

     

     

  • ‘Ecobank’s Omni Lite user-friendly’

    The Managing Director of Ecobank Nigeria, Patrick Akinwuntan, has reaffirmed that the bank’s recently upgraded online banking platform for businesses, Omni Lite,  is versatile, secure and user-friendly.

    He urged business owners to take advantage of the services available on the platform which has been specifically optimised for them. Those in the commercial sector such as small and medium enterprises (SMEs), faith based organisations, educational institutions,

    Non-government organisations and government institutions can manage their transactions effectively and access an array of tailor made solutions designed to empower their businesses.

    According to Akinwuntan, Omni Lite is primarily designed with business owners in mind. It comes with features to enhance businesses such as efficient and seamless cash flow management, easy view of all accounts and expenses in one place, convenient salary payment with bulk payments upload, management of loan payments, exchange rates calculation and other interesting features.

    Further, Akinwuntan noted that with Omni Lite, customers have access to real time transaction details, domestic and interbank funds transfers and online loan requests. The platform comes with best in its class security tools to ensure that users are protected.

    He enjoined business owners to register for Ecobank Omni Lite and discover how the platform can help grow and manage their businesses.

  • Why remittances into Nigeria are zero charges – Ecobank

    Managing Director, Ecobank Nigeria, Patrick Akinwuntan has said the bank’s decision to charge zero fee on RapidTransfer remittances is borne out of the need to ensure Nigerians abroad are able to send home 100 per cent of monies made through hard work.

    Akinwuntan who spoke in Lagos noted that “Because we are able to do it per scale and because we know that when Nigerians work abroad, close to 7 per cent to 8 per cent of their sweat is taken as commission when they are sending money home, we decided to make the cost of sending money home free.”

    “We want 100 per cent of the money made through the sweat and hard work of Nigerians, find its way back to Nigeria, to support and develop our economy in Nigeria. This is why we made the RapidTransfer charges to be zero.”

    “Any Nigerian in the Diaspora can download the Ecobank RapidTransfer App from any of the stores, attach his or her card, say in Canada, UK or US and remit $50, $30,£30, £25 or £100 instantly to a recipient in Nigeria. The recipient could have a bank account in Ecobank or any other bank in Nigeria,” he explained.

    He affirmed that Ecobank leverages on the Nigerian Inter-Bank Settlement System (NIBSS), which he said has done a great job in bringing a common settlement platform for all the banks in Nigeria.

    “The payment will get to the account of other receiving bank, because Ecobank has put together a global App available for all Nigerians globally to be able to send money home,” stressing that “we offer best exchange rate available. If your relative or friend does that transfer from Canada or Paris today you will get an equivalent of N360 to a dollar instantly at no charge to the sender. So, the entire money made by your relation or your friend or yourself abroad finds its way back to Nigeria to support Nigerians back home, which is why most relations go to work abroad,” he said.

  • Ecobank CEO speaks on Fintech gains in Africa

    Managing Director, Ecobank Nigeria, Patrick Akinwuntan   has listed Africa’s potentials and how the continent can harness opportunities in Financial Technology (Fintech).

    Speaking  at the third National Fintech Conference and Africa Fintech Festival 2018 Edition in Lagos, on the theme: Fintech- Beyond and Hype, he said Africa, as a whole, has an economy where over 95 per cent of transactions are conducted in cash, hence, offers an opportunity it could harness via digitisation.

    The conference, which kicked off the Africa Fintech Festival series, is a week-long festival with two days of main conference and various other engaging side attractions running throughout the week. Akinwuntan said: “Digitisation will provide an important avenue for African economies to leapfrog, not only financial development, but also development across other sectors of the economy.

    “There are infinite opportunities on the digital platform and fintech are working really hard to develop and introduce products that will benefit Africa. These changes will only benefit African economies that are ready to embrace digitalisation.”

    He said mobile devices are also obvious tools, which Africa could use to unleash the power of digitalisation across the continent, adding that with the rising penetration of mobile broadband, there are more possibilities ahead for Africa. Akinwuntan also said Africa could copy from other continents and countries that had harnessed digitalisation to boost their economy. “For instance, Estonia, a small European country, was trying to find its feet post-breakup of the Soviet Union in 1991, without much resources from which to rebuild.

    “The government led a deliberate effort to fast-track economic development leveraging digitalisation rooted in the goal to improve the wellbeing of its citizens. They invested in a broadband network across the country, digitised government services and incentivised citizens,” Akinwuntan said. Ecobank, according to him, was in 36 countries in Africa and was ready to collaborate with all willing partners to make digital payments across Africa a reality.

     

  • Ecobank Nigeria gets new MD

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

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

    Prior to his appointment, Akinwuntan was the Group Executive Director, Consumer Banking, in Ecobank’s global network in 40 countries.

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

    The Chairman, Board of Ecobank Nigeria, Mr. John Aboh, 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.

    “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 his future endeavours,” Aboh said.

    NAN