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Access Bank Wins 2016 Euromoney ‘Best Bank Transformation’ Award

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Access Bank

Nigeria’s top tier lender, Access Bank Plc has just received the award for ‘Africa’s Best Bank Transformation’ in the Euromoney 2016 Awards for Excellence. The award was in recognition of the Bank’s progress in the enhancement of its operations through its ‘Winning with Service’ initiative, as well as commitment to raising the standards of customer experience through its digital banking strategy.

The Africa’s Best Bank Transformation award is one of the new categories launched this year to reflect the changing nature of the global banking industry, and Access Bank is the foremost winner of this award.

This prestigious award was presented to the Bank at the 25th anniversary of the Euromoney Awards dinner which took place on Wednesday at the Tower of London, United Kingdom and attended by over 500 CEOs and senior executives of winning institutions as well as members of the Euromoney team.

The Euromoney Awards for Excellence, launched in 1992 and now in its 25th year, were the first of their kind in the global financial publishing industry. Recall that Access Bank was named the Best Flow House in Africa at the 2015 awards ceremony which held at the Natural History Museum in London.

Speaking at the presentation ceremony Herbert Wigwe, Group Managing Director/CEO of the Bank said, “We are delighted to be presented with this highly coveted award. It is a testimonial to the hard work we have done in line with our five-year strategy to become the world’s most respected African Bank.’’

“It also confirms the transformation of the Bank into a large diversified enterprise with enhanced retail structure as well as fast digital banking platform,” he added. He assured that the Bank will sustain this growth momentum while noting that the award is an honour not only for Access Bank, but for Nigeria and the seven million Access Bank customers who have been instrumental to the Bank’s success.

Euromoney said the 2016 awards focused on commercial and investment banks that demonstrated ability to deliver the different parts of their firms to meet clients’ needs and adapt to market and regulatory conditions. It also considered candidates for awards that might not be global in scale, but are truly world class in the way they are run and in the services they deliver to clients.

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COVID-19: CBN Issues Directive To Banks, Reduces Interest Rates

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The Central Bank of Nigeria (CBN) has reduced interest rates on its facilities through participating in Other Financial Institutions (OFIs).

The rate has been slashed from 9 to 5 percent per for one year, effective March 1, 2020.

This was contained in a circular to banks on Wednesday by the Director of Financial Policy and Regulation Department, Kevin Amugo.

Similarly, CBN intervention facilities obtained through participating OFIs, Microfinance Banks (MFBs), Primary Mortgage Banks, among others would be given a further one-year moratorium on all principal repayments.

This is also effective on March 1, 2020.

OFIs have equally been granted leave to consider temporary and time-limited restructuring of the tenor and loan terms for households and businesses, subject to the recently issued guidelines for restructuring affected credit facilities in the OFI sub-sector.

The Director, Corporate Communications Department, Isaac Okoroafor, said the decisions were part of the bank’s efforts to cushion the effects of coronavirus on Nigerians, businesses and regulated institutions.

He assured that the CBN would also continue to monitor developments and implement appropriate measures to safeguard financial stability and support stakeholders impacted by the COVID-19 pandemic.

However, the Monetary Policy Committee (MPC) meeting of the CBN for the month of May will be held on Thursday.

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GTBank Celebrates Children’s Day

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UBA Rewards 100 Customers With N100,000 Amid COVID-19 Meltdown

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Pan African Financial institution, United Bank for Africa (UBA) Plc has again given its loyal customers reason to cheer as it rewarded 100 of them with N100,000 each in the UBA Bumper account draw.

The draw, which took place at the UBA Head office on Tuesday, was held via the Facebook platform in strict compliance with social distancing rules as directed by the Federal and Lagos State Government were 100 more customers emerged winners through a transparent draw.

When contacted, the customers who emerged winners of the draw agreed that the total reward of N10m is timely and would be very useful in assisting them especially in the face of the Coronavirus Pandemic currently ravaging the world with attendant effect on incomes of individuals.

UBA’s Group Head, Consumer and Retail Banking, Jude Anele, spoke about the bank’s excitement to be able to put smiles on the faces of as much as 100 customers at this critical time when livelihoods and lives are being threatened by the Covid-19 pandemic.

“These are difficult times indeed with little to cheer about because people are going through trying times. However, for us in UBA, we want our customers to know that we are in these together, that is why we have taken it upon ourselves to reward those that have kept our business going with their loyalty. With this reward, we want to encourage them to stay happy and safe even as they continue to aim for their dream regardless of the present challenges,” Anele said.

He noted that the bumper draw is also in line with the bank’s mission of creating superior value for its stakeholders while encouraging saving cultures among Nigerians, adding that “We have in recent times deepened our focus on the most important aspect of our business – the customers we serve. Hence, our huge investment in technology to make banking easier and seamless across all our product channels and that is why we most recently introduced new offerings such as this Bumper Account, with our customers in mind as it is expected to deliver improved value to them,” he said.

In the first draw which was held live during the official launch in Lagos, a total of 100 customers emerged winners as ‘Bumper to Bumper Crooner’, Wande Coal, serenaded guests with his famous hit songs to the delight of all present.

The Group Head Marketing & Customer Experience, Michelle Nwoga, explained that the Bumper account was created specifically with the customer in mind, adding that UBA truly puts its customers first and will stop at nothing to ensure they have the right solutions to support their needs. “We are committed to delivering exceptional service and will always seek to excite our customers at every interaction. We back our words with action and that is why a total of 100 customers emerged winners at the last draw which also took place here,” she said.

She added that a monthly shopping allowance of N100,000 for a year is also up for grabs. “No fewer than 5 account holders will get a whopping N2 million each across all participating regions every quarter. This account is open to both existing and new customers of the bank who save a minimum of N5,000,” Nwoga added.

Mafulul Emmanuel King, one of the winners who was called on the phone, could not hide his joy when he was announced as one of the winners. “I am still very amazed. I never knew I could get lucky and win. All my life, I have never won anything like this, and I am very happy that I won this time. What a time to get lucky than now when this Corona Pandemic has affected my business severely. You can’t imagine how relieved and delighted I am. God bless you guys, thank you so much UBA,” he said.

Another winner, Bello Aishat, who could not also believe it when her name was contacted screamed for joy, saying: “You don’t know what this means to me at this very difficult time! This bank keeps touching and supporting lives. The same way they supported both the federal and state governments and some African countries with a whooping N5bn. I am convinced UBA truly cares and I am proud to bank with UBA. Thank you so much, you have touched me beyond words at a trying time,” she concluded.

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