BUSINESS
FIRSTBANK LEVERAGES TECHNOLOGY TO PROMOTE VIRTUAL BANK ACCOUNT OPENING FOR CUSTOMERS
First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced that it has reinforced its technology infrastructure to enable anyone in the country open a FirstBank account through their mobile phones, without visiting any of its branches nationwide.
The investment in the Bank’s mobile banking infrastructure is in furtherance of the need to deepen financial inclusion in the country, enabling account opening to be carried out on its *894# USSD banking, FirstMobile (self-service telephone banking), its website – www.firstbanknigeria.com – as well as the Bank’s staff, through the Direct Sales Executive (DSE) application installed on their mobile phone, ATMs and the bank’s over 55,000 FirstMonie Agents spread across the country. Opening an account with FirstBank through any of these means is seamless, convenient, fast, and user-friendly.
The DSE App is an end to end encrypted mobile application installed on the phone(s) of FirstBank staff which enables them to open an account for to-be customers. Upon the completion of the account opening process via the DSE App, the customer is notified of his or her account number through a text message on the mobile phone used to register the account.
With FirstBank’s 894# USSD banking, various banking activities are carried out on a mobile phone – across the four major GSM network operators in the country – without the use of the internet. To open an account via this means, dial *894# then select ‘open an account’ to provide the information required or by simply dialling *8940#. The Bank currently has over 9.5 million of its nearly 20 million customers on its USSD banking platform.
The FirstMonie Agent Banking is an agent banking initiative from the bank that is designed to take banking closer to people, thereby bridging the gap between the banked and unbanked. FirstMonie is a channel through which various banking activities like FirstBank account opening, funds transfer, bill payments, data and call credit recharge services, amongst others are carried out. The Agent Banking initiative has also contributed to reducing poverty, being responsible for the indirect employment of over 150,000 people across the country.
According to Chuma Ezirim, Group Executive, e-Business & Retail Products, First Bank of Nigeria Limited, “beyond opening an account in any of our over 700 branches, we are delighted with the investments at reinventing our business processes over the years, especially with the use of technology. This has been critical to staying relevant in the industry for over 126 years and being the financial partner of the first choice to all our customers and Nigerians, irrespective of where they are.”
Creating these virtual ways of opening a bank account with us – thus; the staff DSE App, ATMs, FirstMonie Agents, *894# USSD banking, FirstMobile and our website – reinforces our resolve to ensure that more Nigerians and residents have access to banking, especially through our state of the art financial services and we remain resolute to being the key to banking, enabling business and financial activities that would continue to propel the country’s economic growth and development.
BUSINESS
LASG PARTNERS FIRSTBANK TO PROMOTE ACCESS TO AFFORDABLE HEALTHCARE
The Lagos State Health Management Agency (LASHMA), in its commitment to ensure that residents at the grassroots have access to affordable, effective and quality healthcare, has partnered with First Bank of Nigeria Limited to utilise its over 13,000 Firstmonie Agents as payment channels for the Lagos State Health Scheme (LSHS).
The General Manager, Lagos State Health Management Agency (LASHMA), Dr. Emmanuella Zamba, made the disclosure during the flag off of the partnership in Alausa, saying that the partnership became necessary to facilitate ease of health insurance premium transactions for residents, especially at the grassroots.
She noted that FirstBank was selected for the partnership in recognition of its effectiveness, efficiency and large clientele base.
“The Agency realised that not all residents can go to the Bank or use online platforms for the payment of their health insurance premiums, hence the Agency identified the need for other payment platforms such as the Firstmonie Agents”, Dr. Zamba explained.
Asserting that the partnership would avail residents the opportunity to pay either N40,000 annually for family plan or N8,500 annually for individual plan through any of the Firstmonie Agents, the General Manager said that once the insurance premium is paid before 25th of every month, such enrollee can receive care from the first day of the following month at any public or private hospital of their choice within the scheme’s network of providers.
While commending the good gesture of First Bank of Nigeria Limited, Dr. Zamba urged other corporate and multinational organisations to support the Agency towards ensuring that Lagos residents, irrespective of their tribal, cultural or religious differences, access quality healthcare.
The General Manager disclosed that efforts are being intensified to ensure that residents can also enrol for the Scheme at any of the Firstmonie Agents situated within their localities.
The Deputy Managing Director, First Bank of Nigeria Limited, Mr. Gbenga Shobo, who commended the Lagos State Government for its determination in ensuring the good health and wellbeing of all residents, said “the initiative will have a crucial role at improving the life expectancy of Lagos residents, whilst promoting their increased contribution to the growth and development of the State”.
He implored residents not to hesitate to pay their health insurance premiums at any of the Firstmonie Agents located in all the local governments and local council development areas in the State in order to have their health secured.
Shobo advised residents in the State to register and enrol in the Scheme in order to enjoy the good gesture of the present administration led by Mr. Babajide Olusola Sanwo-Olu.
BUSINESS
Africa Oil & Gas industry deserves adequate commendation, reward- Esorougwe
The Publisher/Editor-in-Chief of The Africa Brands magazine, Mr. Desmond Esorougwe, has reiterated the need to properly profile the Africa petroleum industry among its counterparts in other continents of the world.
Esorougwe, who made this assertion during the media briefing to unveil the 2020 Africa Oil & Gas Brands Awards in Lagos, said that the industry needs support, commendation and rewards more than ever before.
He said, “The Africa Oil & Gas Brands Awards 2020 is a celebration of leadership innovation and growth of the industry in Africa.”
This award will honour oil & gas companies, products, chief executive officers and other key actors who have made significant contributions to the transformation of the sector in Africa despite the challenging year, he said.
According to the publisher, the award ceremony is scheduled to be held in Lagos on December 11, 2020.
Speaking on the mechanics that led to this year’s winners, Esorougwe said, “in the 2019-2020 period, the survey was conducted in 23 countries, which cover all African economic regions and collectively represent at least 75 per cent of the population and the GDP of Africa.
He said, “These countries BEST Oil & Gas are often the most dominant Best Oil & Gas Brands across Africa or within their regions. Since 2019, the best oil & gas brands have been using Geopoll multimodal survey platform to collect data via SMS rather than face-to-face method.
Another methodology used was mobile interviewing. This method has proven to be the most effective way to reach Africa consumers because of the high penetration of mobile telephony as a primary mode of communication and increasingly for consumer transition in Africa.
The survey according to the organisers yielded over five thousand oil and gas brands covering one hundred best oil and gas brands with the final coded data
Banking
Ecobank emerges Agric Lender of the Year 2020 ……..BAFI Awards
Ecobank Nigeria has emerged the winner of “Agric Lender of the Year” award at the prestigious Business Day’s Bank and other Financial Institutions Awards (BAFI). The bank was winner among other strong contenders to clinch the coveted award over the weekend. According to Publisher of Business Day Newspapers, organisers of the event, Frank Aigbogun, Ecobank emerged winner from more than six strong nominees that were vetted, from which three were selected for the judges’ final choice. He stated that Business Day analysts spent over four weeks assessing the performance of Ecobank and its peers to arrive at its decision. He lauded Ecobank’s support for financing rural farmers for food sufficiency, providing employment, creating awareness to showcase the potentials in the sector and partnering government agencies, local and international development partners to develop the agric sector.
Receiving the award, Segment Head, Public Sector/AgriBusiness, Mojisola Oguntoyinbo said the award was well deserved, stating that Ecobank has been at the forefront of financing the entire value chain of agriculture thereby supporting the emergence of new entrepreneurs in the sector. According to her, “As a bank, we are glad that our efforts at developing the agriculture sector of our country are being recognised. This is an encouragement that we should step up our support for the national economy.”
According to her, “Earlier in the year, we announced Agriculture Businesses Finance Scheme which will see us commence the disbursement of agriculture loans to practitioners in different value chains in the sector within the next two years. We have Agric Schemes to support over 70,000 farmers with special loans to increase their capacity and yields in support of the CBN 2020 wet season programme with the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN). We are also in partnership with the Nigeria Incentive-based Risk-Sharing System for Agricultural Lending (NIRSAL), the United States Agency for International Development (USAID), the Development Bank of Nigeria (DBN) and other developmental partners to double the amount of credit provided to the agricultural sector over the next two or three years.”
Ecobank has been actively leveraging entrepreneurship as a strategy to tackle poverty and growing unemployment in Nigeria through the creation of relevant platforms. One of such platforms is the Ecobank Xpress Point, the bank’s Agency Banking proposition which enables Agents carry out financial transactions on behalf of Ecobank and earn commission on transactions processed. Ecobank popularly referred to as the digital bank is also using its various platforms including PoS, Omnilite, Omni, ATM, Mobile banking, Ecobank Mobile app, EcobankPay and Ecobank Online, among others to facilitate ease of transactions for customers.
The BAFI Awards is adjudged the most rigorous, prestigious and transparent awards programme in the Nigerian financial industry. Since its inception, Business Day has implemented an audit based approach in the evaluation process, meticulously reviewing shortlisted company’s financial reports, commissioned customer perception surveys, and analysts’ opinions to determine winners in the different award categories.
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