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Heritage Bank Plc has registered its presence in Ogijo in the Sagamu Local Government Area of Ogun State; with the commissioning of Dunmop Ventures as agent banking partner under the financial inclusion policy of the Central Bank of Nigeria (CBN) which is designed to bring banking services to the under-banked in Nigeria.

The bank recently inaugurated the corner shop as its agent banking partner to carry out agent banking transactions on beside the 74th Battalion of the Nigerian Army and PZ manufacturing outfit along the Shagamu Road in Ikorodu area of Lagos State to provide agency banking services for its customers that live in the area.

The agent bank will handle account opening, cash deposit, funds transfer; cash withdrawal and bills payment among others.

Mrs. Oluwakemi Adewunmi, who is in charge of agent banking in South West and South-South for the bank, at the opening ceremony said the bank has signed on more than 500 agents since it commenced the programme about two years ago.

She noted that the bank was using the agency banking system to bring banking services to the door steps of the rural communities in the country.

According to her, based on the market survey Heritage Bank carried out on the neighbourhood, the people living in the community used to travel over a distance of a minimum of 7km before reaching the nearest bank in Ikorodu anytime they needed to do banking transaction.

Again, she added that financial transactions could now be carried out seven days a week without regard to weekends and public holidays.

Her words: “Financial transaction could be done at any time, any day notwithstanding whether it is weekend or public holidays.”

Adewunmi explained that customers can open bank accounts, deposit cash, transfer money even to other banks and also pay bills.

Managing Director of Dunmop Ventures, Mr. Kale Adekitan said they were very happy to be appointed as an agent of Heritage Bank, adding that they felt they should make contribution to the growth and development of the community which lacked banking facilities as residents had to travel to Ikorodu or Ogijo to be able to have access to banking facilities.

He said they had created enough awareness among the residents and the military community as well as community leaders and the responses had been very encouraging.

Some soldiers and residents who spoke on condition of anonymity said they were very happy for the opening of the agent banking facility in the community.

The agency banking policy was sequel to a research conducted by an international agency, Enhancing Financial Innovation & Access (EFINA) in 2008 which showed that about 74 percent of Nigeria’s rural community was un-banked.

Against this backdrop, the CBN therefore initiated the policy with the aim of reducing the figure by 20 percent by 2020 to ensure greater participation in the nation’s financial sector.

BUSINESS

How To Prevent Unauthorised Transactions On Your Zenith Card Or Token If Stolen [MUST READ]

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Has your mobile phone, Zenith Bank Card or Token been stolen or misplaced?

You can prevent any unauthorized transactions on your account by simply dialing 966911#.

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Heirs Holdings Signs $600 million Loans With Afrexim Bank, To Scale Its Energy Investments

Gbemileke Ajayi

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As a further demonstration of the African Export-Import Bank’s (“Afrexim”) mandate to facilitate the growth of intra-Africa trade and support the development of African businesses, Afrexim today, signed financing facilities totalling US$600 million with the Heirs Holdings Group, a pan-African proprietary investment holding company.

Heirs Holdings has significant investments across Africa, in the financial services, resources, real estate and hospitality and power sectors. The facilities will further support the Group’s power, oil and gas strategy, as it positions itself as an African leader in integrated natural resources. The signing ceremony took place at the Afrexim Intra-Africa Trade Conference taking place in Cairo, Egypt.

The proceeds of the facilities will assist the Heirs Holdings Group vision of creating a dynamic resource based division, focused on ensuring value creation occurs on the African continent and that value chains are developed, that directly benefit the broader African economy and consumer.

Commenting at the ceremony, Dr. Benedict Oramah, President of Afrexim who signed on behalf of the Bank, stated that the investment by Heirs Holdings would play a key role in addressing some of the fundamental challenges that have affected the power and energy sectors in Africa. He stated that “A world class energy sector is fundamental to the sustainable growth of businesses in Africa. If we do not deal with these basic matters, growth of trade and exports will always be limited”.

Mr. Tony Elumelu, the Chairman of Heirs Holdings, commented that “We are delighted to be partnering with Afrexim. The Bank continues to play a critical role in the economic and social development of the continent. Together, we illustrate that Africa can create world class institutions, which are capable of successfully making the long-term investments necessary for Africa’s economic transformation and catalyse the enabling environment that will unleash Africa’s potential”.

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UBA Academy Gets CIBN Accreditation for Excellence in Training, Capacity Building

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In recognition of its high standard, quality of human resources development, training and capacity building, The Chartered Institute of Bankers of Nigeria(CIBN) has certified and awarded UBA Academy the certificate of accreditation in line with the Central Bank of Nigeria’s Competency Framework for the banking industry .

UBA Academy, the dedicated learning and development centre of the Pan African financial institution, United Bank for Africa (UBA) Plc, was accorded the new recognition of excellence at a ceremony presided over by the President/Chairman of Council of the institute, Dr. Uche Olowu in Lagos on Thursday.

According to the president of the institute, UBA Academy was conferred with the new status having met the rigorous standards set for the delivery of their suites of programmes by the Institute.

The certification follows rigorous assessment exercise carried out by the institute’s Capacity Building Committee, the accreditation agency under the competency framework for the country’s banking and finance industry instituted by the Central Bank of Nigeria.

“This Accreditation is an affirmation that UBA Academy has adopted and complied with the minimum assessment standards for programmes run by the organisation, which have gained a label of recognition and distinction,” Olowu said.

According to him the accreditation of UBA Academy would enable its graduates to be eligible for exemptions from various subjects in the banking professional examinations thereby facilitating their completion of the Chartered Banker examination. “This will not only enable them comply with the provisions of the Competency Framework for the banking industry, it will go a long way in the strengthening of the intellectual resources and capabilities available in their institutions,” he concluded.

Speaking at the ceremony, the Bank’s Group Head Human Resources, Mrs Patricia Aderibigbe, while appreciating the recognition conferred on the UBA Academy, said the academy has already embarked on training for the future with digitisation of its training programmes and modules.

“With Ignite, UBA has taken training into the future as we believe that the only way to get the best results and continually stay ahead of the curve is to continually sharpen our most important asset – our people, using mobile technology,” Aderibigbe said.

Aderibigbe promised that UBA Academy will continuously seek improvement in ensuring that it serves the needs of industry in a changing banking industry.

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