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Heritage Bank Upgrades HB ‘Padie’ Mobile App For Easy Access To Banking Services

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Heritage Bank plc, Nigeria’s most innovative banking service provider has upgraded its HB ‘Padie’ mobile application to HB ‘Padie’ 2.0, which comes with new improved features for a convenient, quick, secure, and affordable way for seamless 24/7 banking transaction.

The HB ‘Padie’ 2.0 app has been redesigned and relaunched with new improved multi-functional features and game-changing innovation that leverages customers to ease accessibility to funds and improve the standard of living. This is poised to enable customers’ card management in connecting all bank accounts with their Debit Card details or account holder information.

The banking app which is squarely targeted at customers across board and embedded with improved security and self-service features allows the customers to open accounts from the comfort of their zones.

HB ‘Padie’ 2.0 combines digital transactions and community lifestyle payments that empower customers with the power to build their world and perform digital transactions how they want.

The platform possesses numerous benefits, as one of these is an enabler for foreign exchange transfer with speed and convenience you need all in one.

The platform enables customers and small business account holders key into the electronic payment system easily, efficient collections, bills payment, mobile virtual top-up, funds transfer, balance inquiry, and many more.

Other added features include frequent transaction; dashboard flexibility and personalization, which involve profile management-the HB ‘Padie’ 2.0 can be customized by the user by adding any profile picture of choice, whilst the customers can retain and delete beneficiaries without having to repeatedly enter the recipients’ account details.

The HB ‘Padie’ 2.0 platform also allows customers to monitor their spending patterns, as it shows the inflow and outflow of funds on their account.

To further improve banking experience and make access to funds easier, Heritage Bank launched its USSD code *745#.

According to the bank, it does not require a smartphone or data and would induce an improved banking experience.

The bank said to register for the service, customers should dial, *745# account number* last 6 digits on the customer’s debit card# and follow the voice prompt.”
To ensure seamless banking transactions, the bank explained that customers are constantly communicated to, to also adopt its available 24/7 alternate electronic channel.

“We have encouraged our customers to adopt the self-service platforms like *745*0# for balance inquiry, Funds Transfer (Within Heritage Bank): *745*1*Amount*Account Number#, self-airtime recharge: *745*Amount#, third party airtime recharge: *745*Amount*Mobile Number# and change pin: *745*00#.”

BIG STORY

Manufacturers React To CBN’s Interest Rate Hike, Say “Nigerians Will Start Paying Higher Prices”

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The Manufacturers Association of Nigeria (MAN) says the latest interest rate increase by the Central Bank of Nigeria (CBN) will worsen the imminent recession in the manufacturing sector and negatively impact its operations in many ways.

On Wednesday, the policy-setting committee of the CBN raised the monetary policy rate (MPR) which measures interest rate, from 18 percent to 18.5 percent.

The latest adjustment was the seventh consecutive rise since May 2022.

The monetary policy rate (MPR) is the baseline interest rate in an economy, every other interest rate used within an economy is built on it.

Reacting in a statement on Thursday, Segun Ajayi-Kadir, director-general of MAN, said the MPR hike would, among other challenges, lead to an increase in the cost of borrowing which would further discourage investments in the sector.

Ajayi-Kabir said it would also lead to a high cost of production which would lead to higher commodity prices and inventory of unsold manufactured products.

“It is evident that the continuous and consistent increase in MPR is not yielding the desired growth in the economy. The Nigerian economy remains fragile and bedeviled with numerous challenges that inhibit growth,” the statement reads in part.

“Therefore, the monetary authority needs to pay closer attention to rethink the policy mix, bearing in mind the parlous state of the economy, especially the effect of a high MPR on the manufacturing sector and the economy.

“The increase in MPR from 18 percent to 18.5 percent will certainly lead to an increase in lending rates and worsen the uncompetitiveness of the manufacturing sector.

“The Association has been clamoring for single-digit lending rates to allow manufacturers access to needed funds to boost the performance of the sector.

“This increase, like the previous ones, is evidence that the CBN is either unperturbed about the plight of the productive sector or is unable to fathom out a more creative policy mix that would reflate the sector.

“Therefore, it is necessary for government to think outside the conventional monetary policy framework and take pragmatic steps to quell the inflationary pressure and reposition the economy.”

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BIG STORY

Adron Homes Announces The Official Event Date For Adron Games 2023 Featuring Corporate Games And Adron Staff Games

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Adron Homes and Properties Ltd, a leading real estate company, is thrilled to announce the official event date for its highly anticipated annual sports fiesta Adron Games 2023, the 7th edition.

The event will take place from November 16 to 19, 2023, in Ibadan, Nigeria with the theme “The Strongest, is the Unstoppable”. This year’s event promises to deliver a thrilling experience with intense competitions in various sports disciplines, including Football, Basketball, Athletics, Table Tennis, and more.

This year’s edition will continue with the tradition of greatness by providing an unmatched platform for participants to showcase their skills and compete at the highest level.

The Corporate Games segment of Adron Games 2023 will feature teams from prominent companies across various industries. These organizations will engage in friendly yet fiercely competitive matches, fostering camaraderie and team spirit among their employees.

Additionally, the Adron Games 2023 will showcase the immense talent and passion within the Adron family. Adron Games recognizes the importance of fostering an active and healthy lifestyle among its staff members, and this segment serves as an excellent opportunity for employees to participate and excel in their favorite sports.

Participating teams in Football, Basketball, Athletics, Table Tennis, and other sports will face off in exhilarating matches throughout the event. The competition will be intense, as athletes strive to showcase their skills and claim victory for their respective teams.

One of the highlights of Adron Games 2023 is the mouth-watering cash prizes awaiting the winning teams. Adron Games 2023 aims to reward excellence and dedication by providing substantial incentives that recognize the hard work and talent exhibited by the participants.

“We are excited to announce the official event date for Adron Games 2023,” said Aare Adetola EmmanuelKing, the Group Managing Director/Chairman of Adron Group. “This year’s edition promises to be an exceptional showcase of talent, teamwork, and sportsmanship. We invite participants and spectators alike to join us in Ibadan for an unforgettable sporting experience.”

Adron Games 2023 is committed to creating an inclusive and memorable event that brings together participants, sponsors, and spectators from all walks of life. The event serves as a platform to celebrate athleticism, promote healthy competition, and encourage a vibrant sports culture within the community.

For more information about Adron Games 2023 and to stay updated on the latest news and announcements, please visit www.adronsportsfoundation.org or www.adronhomesproperties.com

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BIG STORY

BREAKING: CBN Increases Interest Rate To 18.5%

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The Monetary Policy Committee (MPC) of the Central Bank of Nigeria, on Wednesday, unanimously voted to increase its monetary policy interest rates to 18.5 percent.

It was earlier reported that the MPC of the bank voted to increase the benchmark interest rate by 50 basis points to 18 per cent.

The CBN Governor, Godwin Emefiele, disclosed this while reading the communiqué of the third MPC meeting of the year on Wednesday.

Addressing journalists at the end of the two-day meeting in Abuja, Mr Emefiele, said the committee voted to keep the asymmetric corridor at +100 and -700 basis points around the MPR.

Justifying the rising inflation rate, the MPC blamed the high energy cost and challenges around the supply chain, among others, which are beyond the reach of the CBN.

He added, “The current trend in price development would continue to be monitored by the bank with greater collaboration with fiscal authority to address the drivers of inflation.”

Analysts in the country had predicted the CBN and the MPC might raise the lending rates at the end of the Monetary Policy Committee.

The apex bank had increased the MPR from 11.5 percent earlier last year to 18 per cent in March this year across six consecutive rate hikes.

 

More to come…

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