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Firstbank Partners NIBSS To Drive Digital Payment Convenience With Nigeria Quick Response (NQR)

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First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services organization has announced its partnership with Nigeria Inter-Bank Settlement System plc (NIBSS) on its recently launched Nigeria Quick Response (NQR) Payment Solution.

The NQR is an innovative payment option implemented for all financial service providers and designed to promote quick and fast transactions by scanning the code on one’s mobile device. Also, the initiative reduces cost(s) for merchants and banks in delivering instant value for person-to-business (P2B) and person-to-person (P2P) transactions by simply scanning to pay. Unlike other QR schemes, the NQR is implemented with reduced charges that is cheaper for merchants.

The initiative is accessible on the Bank’s payment infrastructure as the NQR code can be used to make payments through one’s FirstMobile App. And it is also available for the merchant in facilitating their business activities. The touchpoint and use cases of the NQR payment solution include convenience stores, supermarkets, shopping malls, pharmacies, ride-hailing/taxi payments, bus fares, tolling booths payments, vending machines, e-commerce sites, online (Instagram) businesses amongst many others.

To access the service, launch your FirstMobile App and select QR payment. Afterward, choose NIBSS as a payment provider, then scan the seller’s NQR barcode. Thereafter, the amount is inputted, followed by PIN validation to generate an instant confirmation of the transaction successfully. On the other hand, merchants are to visit any FirstBank branch closest to them for service enrolment.

Speaking on the initiative Dr. Adesola Adeduntan, CEO, FirstBank said “we are delighted with the adoption of the Nigeria Quick Response (NQR) payment solution, an initiative by Nigeria Interbank Settlement System plc (NIBSS) which has been instrumental to easing and promoting payment convenience with the use of mobile phones. At FirstBank, we recognize the indelible role technology plays in promoting businesses across diverse frontiers and we remain committed to reinventing our technology infrastructure to meet global standards whilst being committed to staying true to our mantra in always putting You, our customers First.

BIG STORY

Unity Bank Targets Women; Launches Yanga Account

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In its bid to demonstrate increased commitment towards promoting financial inclusion and women empowerment, Nigeria’s retail lender, Unity Bank Plc has launched Yanga Account, a new retail product designed to deepen beneficial impact on Micro Small, and Medium Enterprises, MSMEs operated by women in the mass market retail space.

As a product targeted to boost the Nigerian women entrepreneurs, the initiative was intended to create Yanga Experience, from promoting the business, capacity building to health insurance scheme for Yanga Account holders.

A statement by the Bank said that the benefits for signing up to Yanga Account are summed up as ‘The Yanga Experience’. This means that as we target every woman in the mass-market retail space, the Yanga account holders will enjoy many benefits including stress-free savings and investment, access to the services of dedicated Sales Agents, Agency Banking services close to the location of their businesses, special business seminar and training on how to grow business, access to microloans, customized debit cards and other bundled e-banking products.

Speaking at the launch of the product in Abuja on Tuesday, the Managing Director/Chief Executive Officer of Unity Bank Plc, Mrs. Tomi Somefun stated the “Yanga Account is being launched as a bold attempt to directly cater to women and their respective businesses.”

The Unity Bank Boss, therefore, asserted that the Account “is open to all market women in farming, fashion design, tailoring, frozen food, pastry and baking, cosmetics, jewelry designs and making, skincare, eateries, and restaurants, etc. whether living in the communities or cities.”

“Yanga Account is conceived and designed for the financial literacy and empowerment of Nigerian women. It is about making sure that our women who make up 55% of the financially excluded Nigerians have access to basic and life-changing financial services.”

Recent research by Enhancing Financial Innovation & Access (EFInA) has shown that “Women need economic opportunities if countries are to realize the full potential of their human capital. Financial inclusion can benefit individuals, families, and businesses, supporting key outcomes such as GDP growth”.

Speaking further, Somefun said: “The Yanga account will also be incorporating an affordable Health insurance scheme not only as a part of the product bouquet underpinning the Bank’s belief in health and wellness which translate to wealth creation but also to drive insurance penetration which is presently at 2% in Nigeria. We, therefore, believe that this will provide essential ingredients to growing a business as well as adding greater value for Yanga account holders.

“At Unity Bank, through products like Yanga Account, we continue to align with the vision of the Central Bank of Nigerian and the financial services ecosystem to provide needed support for Nigerian women by enhancing access to wealth-creating opportunities in the financial services sector”.

Also, speaking, Group Head, Retail, SME Banking and E-Business, Unity Bank Plc, Mr. Funwa Akinmade said: “the official launch of the Yanga Account is an extremely important step for us as a Bank because it is one step that brings our services closer to Nigerian women as Unity Bank makes the efforts to further expand its retail footprints in the market.

“At Unity Bank Plc, we have devoted the past few years to constantly innovating with banking solutions to enable us to drive more financial inclusiveness in different market segments, but the Yanga Account is introduced as a bold attempt to directly cater to women and their respective businesses.

“Unity Yanga is a well-packaged banking product that combines several services that most small businesses owned by women will need to become profitable. We are optimistic that Nigerian women will embrace the Yanga Account and leverage its full benefits to grow their businesses.”

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BUSINESS

GTCO Stages Music Concert In Ghana

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From the curators of the GTBank Fashion Weekend and GTBank Food and Drink Festival–two of Africa’s most celebrated showpiece events–comes the biggest corporate event of the year.

This inaugural event will hold in the main bowl of the Accra Sports Stadium on Friday, 17 December 2021, and will feature performances from some of Africa’s brightest breakout stars of both Ghanaian and Nigerian origin.

The GTCO Music Concert is a community engagement event designed to spotlight the best of African entertainment to a global audience whilst promoting wider acceptance of our individuality as well as a shared character as vibrant and energetic people. It explores the joys of music and celebrates the beauty in diversity, a common heritage, and our collective aspirations. Authentic sounds, resounding afro-beats, and pulsating rhythm will be enjoyed by the effervescent concert crowd and live-streamed to millions worldwide!

At GTCO Plc, we recognize the potential for boundless creativity within the African continent and look to harness its industry towards creating a more connected, prosperous future for all. The GTCO Music Concert combines our strong zest for life and unparalleled dynamism to create a great experience that goes beyond banking.

Guaranty Trust Holding Company is a leading financial services company providing banking and non-banking services across eleven countries spanning West Africa, East Africa, and the United Kingdom. The Group operates a diversified, proudly African franchise and is renowned for its innovative approach to customer service and stakeholder engagement.

If there is one event on your calendar this festive season, it has to be the GTCO Music Concert!

All Covid-19 protocols will be observed at this event.

ATTENDANCE IS FREE

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BUSINESS

Firstbank Celebrates Youth Week 2021

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From showcasing talents to the art of fashion design, identifying youths in the food business, and lots more, Nigeria’s leading financial services providers, First Bank of Nigeria Limited has reiterated its commitment to Youth Empowerment and Entrepreneurship through the celebration of its ongoing 2021 Youth Week.

The Youth Week, themed “The Future is Now, Let’s Takeover” started on Monday, 8 November 2021. The event comprises a variety of activities, including Youth-themed Future Forward activities, [email protected] Creative Artistry Empowerment Workshop, Grooming and Wellness Workshops, Digital Engagements, Virtual Mini Concert, and many more. Each activity is associated with various gift items, including gift vouchers and cash prizes.

During the celebration of the FirstBank Youth Week 2021, youths will get rewarded for their talents by following this process – Do a recording showcasing your singing prowess in a video (1 minute or less), Upload your video on Instagram, be sure to follow @firstbanknigeria on IG, then Tag 5 friends to follow the bank with the hashtags #YouthVoices #FirstBank #YouthWeek. The top 5 videos with the highest likes will be posted on FirstBank page and the top 3 videos with the highest likes would win the competition. In addition, Millennials and Gen Zs will upload videos detailing their FirstBank experience on Yammer. The videos with the most votes will win the 1st, 2nd and 3rd prizes respectively.

The Bank will also provide an avenue for the youth to be empowered in Artistry Workshop Sessions & Arts Classes. A call for interested candidates in the art of fashion design and illustrations will be done. Entries will be received from candidates who are told to submit their illustration creatives and 10 Youths will be empowered to learn the business of illustrations at Claire Idera Studio.

Also included is the Food Grill & Fest, a platform the FirstBank uses to give opportunities to youths in the Food business. Youths in the food business will be allowed to submit their entries to the vendors at Grill & Fest 2021.

Food-related questions will be asked on the Bank’s verified social media platforms and the first 5 people to get the questions right will win vouchers. The Wellness and Grooming 101 event will provide an avenue for youths to be empowered in the grooming and wellness Masterclass. Interested youths will show their interest to upskill in areas of beauty, grooming, and wellness.

Speaking on the Youth week celebration, Dr. Adesola Adeduntan, Chief Executive Officer of FirstBank said ‘’we remain committed to recognizing the enormous opportunities that can empower the Nigerian youth. Over the years, we have seen our youth benefit from actively engaging in our programmes where they develop effective leadership skills and gain a stronger connection to their community. Young people are our future and we are always ready to support and help harness their skills as with these, we put them at an advantage in securing their future as they contribute to national development.

At FirstBank, with about 57% of the entire workforce being millennials and ‘Gen Zs’, the Youth segment has been and will continue to be the prime focus. Therefore, the Youth Week presents a unique platform to strengthen the Banks commitment to the younger population, who have become the powerhouse driving all facets of digitization and innovation in our world today’’.

Since 1999, Nigeria has continued to join the international community to observe the Day in commemoration of the importance of youth’s participation in politics, economic and social activities towards sustainable development of the nation. Nigeria has one of the highest populations of youth in the world, with about half of the estimated 200 million of the country’s total population being under the age of 19 and 62%, below the age of 24.

For more information and participation in the Youth Week, kindly visit the bank’s verified social media platforms; Instagram: @firstbanknigeria, Facebook: First Bank of Nigeria Limited.

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