First City Monument Bank (FCMB), one of Nigeria’s leading financial institutions, is now a member of the Open Banking Nigeria, an industry-focused non-profit body facilitating the advocacy, development and adoption of a common standard for open Application Programming Interface within the Nigerian financial ecosystem.

With this development, FCMB has formally joined more than 50 other individual and corporate members across the financial industry, including banks, fintechs, financial consultants, global customer service leaders, among other stakeholders as an integral part of Open Banking Nigeria.

Open banking is a concept aimed at enhancing the capability of operators in the financial industry and allied institutions to drive and deepen innovation through access to more customer-authorised information and data.

In Nigeria, it will result in far greater end-users satisfaction, help the various stakeholders thrive, boost collaboration and inspire more innovation.

In addition, the adoption of the concept would create a new data sharing infrastructure among financial institutions, which will go a long way towards enriching the range of services and products that would emerge from operators.

Commenting on FCMB’s membership of Open Banking Nigeria, the Divisional Head, Transaction Banking of the Bank, Rolayo Akhigbe, said: “As an institution focused on the attainment of enhanced customer experience and a more productive as well as impactful business environment, our membership of Open Banking Nigeria reinforces our commitment to the delivery of exceptional services.

“We are optimistic that this would also upscale our operations and ultimately enable us align with the aspirations of our customers.”

Also commenting, the Team Lead, Banking As A Service of FCMB, Isi Nweje, stated: “As always, we are receptive to partnering with the drivers of initiatives that advance the development of Nigeria’s financial services industry to greater heights, while also enabling and fast-tracking growth across other sectors of the economy.”

A Trustee of Open Banking Nigeria, Ope Adeoye, said: “It is a delight to welcome FCMB to the fold. We anticipate working together for a standardised API-led system that would facilitate the growth, accessibility and viability of numerous cross-industry initiatives which would stem from Nigeria’s financial ecosystem.”

Established in 2017 to define and develop these open and non-partisan APIs, Open Banking Nigeria serves as a platform where industry players jointly champion a progressive cause for the benefit of the country and, by extension, the African continent.

First City Monument Bank is a member of FCMB Group Plc, one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments.

With a clear understanding of its market and environment, the Bank has successfully transformed to a retail banking and wealth management-led group.

It has also continued to distinguish itself through innovation and the delivery of exceptional services, while enhancing the growth and achievement of the personal and business aspirations of customers.

First of Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider has launched the Virtual Payment card, a Naira denominated debit card and digital representation of the plastic debit card. The card is designed to be linked to either a customer’s operative account or wallet account.

The FirstBank Virtual Payment Card is a suitable alternative to the use of cash and cheques, with its wide-range features which  include the ability of cardholders to protect his/her card using the block and unblock capabilities; PIN Reset; Change PIN as well as view statement at one’s convenience. It also enables diaspora customers to spend from his/her FirstBank account within the spend limit advised by the bank without the need for a physical card.

The FirstBank Virtual Payment Card is a safe, convenient, and easy way of making e-commerce payments amongst other functionalities.

The Virtual Payment Card can be created via the Bank’s leading digital channels; FirstMobile or Firstmonie Wallet applications. Customers can download the card, activate the card and consummate transactions all at once from the comfort of their homes/offices. No branch visit is required. Customers are advised to update their mobile application to the latest version, then select Card Services on the FirstMobile App and My Virtual Card application to create a Virtual Card at the cost of N215 (VAT Inclusive).

Speaking on the launch, Mr. Gbenga Shobo, Deputy Managing Director, First Bank of Nigeria Limited said ‘the launch of our Virtual Payment Card is yet another secure and seamless way we promote electronic banking, whilst enabling customers to carry-out their transactions on the web”

“The Virtual Payment Card is also designed to guard against the spread of the COVID-19 as it does not require physical interaction between the customer and FirstBank Branches. We enjoin our customers to download the application and stay ahead in modern banking,” he concluded.

Similarly, FirstBank recently launched the FAST Track ATM, the next generation ATM and first of its kind in Africa, designed to promote financial activities on the ATM without any form of physical interaction with the machine.

For more information on the Virtual Payment Card, kindly click here for the Frequently Asked Questions (FAQs).

Ecobank Nigeria says it is partnering Ultima Studios on the Lions’ Den TV reality show to further its aspiration to support entrepreneurs who have good business ideas but need to raise funds for advancement. Managing Director, Ecobank Nigeria, Patrick Akinwuntan who stated this in Lagos reiterated Ecobank’s commitment to be the foremost financial institution in the country providing thought leadership within the Small and Medium Enterprises (SMEs) space and also supporting them with access to financial products and services to succeed.  Ecobank is the Lead Sponsor of the TV reality show hitting TV screens in 2021.

Lions’ Den which is being packaged and produced in Nigeria by Ultima Limited, a leading reality television programmes producer in West Africa, is a spinoff of the popular ‘Dragons Den’ and ‘Shark Tank’ in the UK and US respectively. The TV show brings together budding entrepreneurs and innovators with seasoned investors and business leaders to create an avenue where compelling best ideas are supported and funded.

Mr. Akinwuntan said he is optimistic that the show would attract the target group including established SMEs seeking seed or expansion capital , aspiring entrepreneurs and young graduates with bright business ideas. He reiterated that the TV show has a proven track record of appealing to both male and female audiences across the globe.

“ SMEs and entrepreneurs in the country are looking for a viable partner that will help them build sustainable businesses. Customers have become more discerning, they are not looking for any partner, but the right partner – one that is not just providing financial support but is investing in their growth; this is what Ecobank represents. We have been actively supporting SMEs because we recognise them as the engine of growth of any economy.  This TV show will further create more entrepreneurs. We are pleased to partner with Ultima Limited who have a pedigree of producing  world class programmes such as ‘Who Wants To Be A Millionaire?’ and ‘Project Fame West Africa’. We believe the target group will embrace the programme and at the end of the day, we will achieve our objectives of supporting small businesses and helping aspiring entrepreneurs in the country realize their dreams.”

Recently, the Chief Executive Officer, Ultima Studios, Femi Ayeni said he has reached an agreement with UK-based Sony Pictures Television to produce the Nigerian version of the globally acclaimed business reality television show, ‘Lions’ Den’. He said the show, the first of its kind in Nigeria, is a variation of the original show that was first aired in Japan and has now been produced in over 30 countries. The show targets entrepreneurs who have good business ideas but need to raise funds to advance their business. According to him, Ultima’s choice of Lions’ Den is a celebration of the entrepreneurial spirit of Nigerians, adding that the programme will not only provide exciting viewing for viewers at home,  but also provide an opportunity for serious entrepreneurs to attract much-needed investments.

Lions’ Den is the world’s number one business reality show – adapted in over 30 countries worldwide. In summary, five investors listen to pitches from budding and innovative entrepreneurs who present their innovative ideas/ business plans in return for capital. Entrepreneurs with successful pitches on the show do not only obtain investments but also acquire mentors and partners for the lifespan of their business. The show, which appeals to adults 18 -54 years, generates consumer engagement opportunities as well as long term business relationships with participants, both on and off the show. It provides a platform for business education, directly and indirectly expanding on several business concepts such as investments, demand and supply,  branding, business accounting and entrepreneurship. Entrepreneurs on the show and those viewing the show will acquire insightful business knowledge, through the questions, comments and suggestions offered by the Lions over the course of the show.

Buoyed up by the culture of Transparency, Accountability and Performance Excellence (TAPE) of the current NNPC management, no fewer than (96) prominent and reputable companies from various jurisdictions have indicated interest in undertaking the rehabilitation of the Nigerian National Petroleum Corporation’s (NNPC) downstream infrastructure ranging from critical pipelines to depots and terminals through the Build, Operate and Transfer (BOT) financing model.

This was disclosed at a virtual public bid opening exercise which held at the NNPC Towers, Abuja for the pre-qualification of companies for the contract.

A press release by the Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, stated that the public opening of the bids for the contract was in keeping with the NNPC Management’s commitment to transparency and accountability in all its processes and transactions.

Speaking at the event, the Managing Director of the Nigerian Pipelines and Storage Company (NPSC), Mrs. Ada Oyetunde, disclosed that the exercise was in conformity with the mandate of the Federal Government to prioritise the rehabilitation of critical downstream infrastructure across the country.

She listed the facilities that would be rehabilitated by successful bidders to include critical pipelines for crude oil supply to the refineries and evacuation of refined products, depots, and terminals, stressing that the objective is to get them ready to support the refineries when they become operational after their rehabilitation.

“An open tender for pre-qualification of interested companies was published in August 2020 in the national dailies, for the rehabilitation of NNPC downstream critical pipelines and associated depots and terminal infrastructure through Finance BOT to cover the 4 lots namely: Lot 1: Port Harcourt Refinery related infrastructure, Lot 2: Warri Refinery related infrastructure, Lot 3: Kaduna Refinery related infrastructure and Lot 4: System 2B related infrastructure,” Mrs. Oyetunde stated.

The NPSC boss said that the BOT arrangement would provide a reliable pipeline network and automated storage facilities for effective crude feed, product storage and evacuation from the nation’s refineries post-revamp through an open access model and charge market reflective prices and tariffs to recover the investment.

Earlier, the Group General Manager, Supply Chain Management, Mrs. Aisha Katagum, commended the Infrastructure Concession Regulatory Commission (ICRC), and the Bureau of Public Procurement (BPP) for providing guidance for the project and assured the bidding firms of a fair, equitable and transparent selection process.

On hand to observe proceedings at the public bid opening exercise were representatives of the ICRC, BPP, the Nigeria Extractive Industries Transparency Initiative (NEITI) and Civil Liberties Organisations (CLOs).

Highpoint of the event was the display of the 96 companies that submitted bids for the rehabilitation projects.

Mouka made a wholesome donation of 10 professional computer systems to the Nigerian Armed Force Resettlement Centre (NAFRC). This was to support the centre’s vision of becoming a world-class training institution for ex-servicemen and women who have made the nation proud in their duties as military officers while in active service.

Mouka made the donation at the NAFRC training centre during the passing out ceremony of Trainees Course 02/2020 Stream Two of ex-service military personnel. This act was also to commemorate the Nigerian Armed Forces Remembrance Day which holds annually on January 15.

Presenting the gifts to the NAFRC Commandant, Air Vice Marshal Isiaka Oladayo Amao, in the presence of the Chief of Defence Staff, General Abayomi Gabriel Olonisakin; the Chief Commercial Officer (CCO), Mouka, Dimeji Osingunwa, said the company is happy to step up and support the centre’s vision of becoming a world-class training institution for ex-servicemen and women.

From Left: Chief Operating Officer, Femi Fapohunda; with the Head of Marketing, Tolu Olanipekun; Chief Commercial Officer, Dimeji Osingunwa; and Senior Brand and Innovation Manager, Akeem Audu, all of Mouka; at the donation of 10 professional computer systems to the training centre for Ex-service Military Officers at the Nigerian Armed Forces Resettlement Centre (NAFRC), in Oshodi, Lagos, recently.

From Left: Chief Commercial Officer, Dimeji Osingunwa; with the Commandant, Nigerian Armed Forces Resettlement Centre (NAFRC), Air Vice Marshal Isiaka Oladayo Amao; and the Chief Operating Officer, Femi Fapohunda; at the donation of 10 professional computer systems to the training centre for Ex-service Military Officers at the Nigerian Armed Forces Resettlement Centre (NAFRC), in Oshodi, Lagos, recently.

Osingunwa was accompanied by other Mouka staff, including the Chief Operating Officer, Femi Fapohunda, the Head of Marketing, Tolu Olanipekun and Senior Brand and Innovation Manager, Akeem Audu.

Mouka’s CCO pointed out that the company also wishes to acknowledge the centre’s valuable role in adding value to the lives of members of the armed forces after their patriotic input to nation-building, by providing training to enable them to cope with challenges of reintegration into civil life.

Osingunwa said the company would continue to support the military and the NAFRC vision of becoming a world-class training institute through effective collaboration.

According to him, computer literacy is a must for all, even for the ex-servicemen and women in today’s digital world. “Everything around us is driven by technology. The computer has become an essential tool of learning and access to globally required skills, and that the ex-military personnel will find them useful for their career and personal growth,” Osingunwa affirmed.

In his remark, the NAFRC Commandant commended Mouka for enhancing the training centre, which he said will help equip the ex-military personnel who will put them into use.

The company leading in the manufacturing of branded mattresses and pillows in the country had also demonstrated its resolve in promoting Nigerian’s wellbeing through the recent presentation of gifts to mothers of first babies born on January 1, 2021.

This took place at the Lagos State University Teaching Hospital (LASUTH), Olabisi Onabanjo University Teaching Hospital (OOUTH), Shagamu, in Ogun State, and the University College Hospital (UCH), Ibadan, Oyo State. The gifts comprised of Dreamtime Baby mattress, Mouka baby mat, baby wipes and diapers.

Other goodwill acts include donations of over 1,000 mattresses to Lagos, Ogun and Oyo States government to enhance their COVID-19 isolation centres. Mouka also aided the Abule Ado gas pipeline explosion victims who were in dire need of assistance with 200 mattresses.

As the promoter of healthy sleep, Mouka has a portfolio of quality products such as Wellbeing orthopaedic mattresses, Klinic hospital mattress, Dreamtime water-resistant mattress, and a wide range of pillows to help Nigerians sleep well and wake up refreshed.