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Relief is on the way for the estimated over 7 million passengers plying Lagos roads on a daily basis, as Heritage Investment Services Limited (HIS), has signed a memorandum of understanding (MoU) with Tuchi Technologies Nigeria Limited to provide affordable mass transit for commuters in Lagos metropolis, which Heritage Bank Plc is the banker to the project.

Besides HIS and Tuchi, other parties to the MoU are Solola & Akpana, legal advisers; Kedari Capital, financial advisers and Hedgestone Capital Partners Limited, one of the prospective investors in the project.

The affordable mass transit allows passengers to make an e-hailing in order to book for the Lagos State coloured buses in the Lagos metropolis within the state.

In a statement made available by the Divisional Head, Corporate Communications of the bank, Fela Ibidapo, said Heritage bank was focused on achieving its primary role of financial intermediation through intervention in the transportation sector, which will create jobs and bring about economic growth for the State.

According to him, this is a milestone achievement for the bank in supporting the commuting experience; challenges inherent in the sector and social well-being of more than 7million of Lagos residents who rely on public transport daily

Speaking at the signing ceremony in Lagos on Tuesday, Mr. Olusegun Akanji, a director of HIS said the company is an investment vehicle that has committed itself to impact investing to support small and medium scale enterprises (SMEs) in a bid to create new set of businesses that are technologically-oriented.

He said technology is the future of the world in terms of employment generation, wealth creation and economic development.

The director noted that, “If you want to see those indications achieved in the world we are going into now, you need to focus on technology, particularly technology that is mobile driven and this is one of the reasons why are partnering and investing in this new initiative under the brand name, Tuchi Technologies.”

Akanji said HIS would make some significant investment in the company to get it off the ground.

Also speaking, Mr. Patrick Atuche, Managing Director of Purpledot Media, promoters of Tuchi Technologies said they came up with the initiative to solve transportation system problems in Lagos State.

He said the new initiative is a transportation system that would enable commuters to move from one place to another conveniently and comfortably, adding that it will operate like the Uber transportation system, except that it will use buses as its means of transportation.

Atuche said commuters would be able to book a bus from one destination to another by logging into the company’s app on their phones to know where the next available bus is and when it would get to their bus stop.

The managing director who described the operations as convenient and reliable added that initially the buses would operate from Ajah to Oshodi and from Oshodi to Ajah before it would spread to other parts of the metropolis.

BUSINESS

FCMB Asset Management Limited Assigned Credit Rating Of BBB+(IM) By Agusto & Co

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FCMB Asset Management Limited, the Asset Management arm of FCMB Group Plc, has been assigned an Investment Manager rating of BBB+(IM) by Agusto & Co., a foremost pan-African rating agency.

FCMB Group Plc is one of Nigeria’s leading financial institutions.

According to Agusto & Co.: “The rating reflects the Manager’s well-established process for generating good quality research, experienced & qualified decision-making committees, member of an established financial services group with an operational track of over 30 years.”

The firm was established in 1997 to provide portfolio management and investment advisory services to individual and institutional investors, globally.

The company is a wholly-owned subsidiary of CSL Stockbrokers Limited, a member of FCMB Group Plc.

Speaking on the firm’s new credit rating, the Chief Executive Officer of FCMBAM, James Ilori, said: “The company rating assigned to FCMBAM by Agusto & Co is another demonstration of our commitment to running a professional and transparent organization. We remain focused on providing international standard fund management solutions that cut across asset classes, markets, and currencies. We thank our stakeholders for trusting us to meet and exceed expectations and restate our commitment to creating value for all.”

FCMB Asset Management Limited currently manages four mutual funds – Legacy Money Market Fund, Legacy Debt Fund, Legacy Equity Fund, and Legacy USD Bond Fund.

In addition to the four collective investment schemes, FCMB Asset Management offers clients discretionary and non-discretionary portfolio services, as well as execution-only mandates.

FCMB Asset Management Limited prioritizes the delivery of international standard investment management services aimed at meeting investors’ investment goals in terms of capital preservation, income-generation, and capital appreciation.

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BIG STORY

FCMB Reinforces Commitment To Innovation, Customer Satisfaction, Joins Open Banking Nigeria

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First City Monument Bank, 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, fintech, 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-authorized information and data.

In Nigeria, it will result in far greater end-user 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 to 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 standardized 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 into 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.

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BUSINESS

Access Bank Renews Commitment To Customer Education and Satisfaction, Announces Revised Customer Complaint Channels

Gbemileke Ajayi

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Driven by its promise to deliver unrivaled customer service to all its customers, Access Bank Plc has announced an extension of its customer education and complaint management activities.

Over the years, Access Bank has strived to reach all audience tiers and communities, communicating and simplifying information on how customer-related bottlenecks can be resolved.

According to Ogor Chukudebelu, the Chief Customer Experience Officer at Access Bank Plc, the institution’s efforts are borne out of the desire to “heighten the public’s consciousness and radically improve awareness of the vast array of resources available to them as we strive to improve their banking experiences.”

“In today’s fast-paced society, there is an increased demand for information. Information that not only helps draw the institution closer to its customers but also makes banking convenient for customers.

As a customer-centric bank, we appreciate feedback from our customers to help us resolve any issues they have. The feedback also serves to improve and enhance their banking experience. Therefore, we have various platforms where customers can lodge their complaints or give suggestions. We will continue to avail all customers within the option of using their preferred complaint lodgment medium,” he added.

All Access Bank customers can henceforth have their complaints lodged and resolved swiftly through the following channels:

  1. Email: [email protected]
  2. Live chat: accessbank.com
  • Social media: Facebook (@AccessBankPlc), Twitter (@accessbank_help) and Instagram (@myaccessbank)
  1. Tamada: tamada.accessbankplc.com
  2. WhatsApp Banking: 08089019019
  3. Contact center telephone: 07003000000, 01-2802500, 01-2712005-7

Access Bank is committed to giving its customers best-in-class services and providing a seamless banking experience for all its customers across the globe.

 

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