FirstBank Host Fintech Summit 6.0, Launches Fintech Innovators Pitch Programme

Lagos, Nigeria – November 6. FirstBank, the premier West African financial institution and financial inclusion service provider is excited to announce its 6th annual Fintech Summit, themed “Banking on Partnerships,” scheduled to hold on November 13 and 14, 2024. This year’s edition will bring together renowned subject matter experts, innovators, and industry leaders from around the world to explore the latest trends and advancements in financial technology.

Since its inception in 2016, the FirstBank Fintech Summit has established itself as a premier event, attracting top subject matter experts in digital innovation from Nigeria and around the globe. While the Summit transitioned online in 2020 due to the COVID-19 pandemic, this year’s event will be hosted as a hybrid affair, enabling participants from around the world to engage with renowned speakers and insightful discussion.

A key highlight of this year’s summit is the launch of the Fintech Innovators Pitch Programme, designed to empower early-stage fintech startups and cultivate innovation within the financial services ecosystem. Selected startups will benefit from intensive training and mentorship, culminating in an opportunity to pitch their groundbreaking solutions to FirstBank, prominent investors, and industry experts.  Winning Startups will receive essential support from FirstBank to propel their products to market, including strategic guidance, resources, and access to a vast network.

The FirstBank Fintech Summit 6.0 promises a dynamic lineup of sessions and invaluable networking opportunities, positioning it as a must-attend gathering for industry leaders and innovators. The two-day Summit will feature expert keynote addresses and panel discussions, regulatory roundtable, investor roundtable, fireside chats and masterclasses.

Emmanuel Daniel, the founder of TAB Global—a research, publication, and consulting firm known for platforms like The Asian Banker, Wealth and Society, The Banking Academy, and TAB Insights—will be a key speaker at the upcoming event. He will be joined by Olusegun Alebiosu, the Managing Director and CEO of FirstBank Group, along with a lineup of distinguished guest speakers and panellists which include Dr. (Mrs) Markie Idowu, GMD/CEO of Xpress Payment Solutions Limited; ’DeRemi Atanda, Managing Director of Remita; Tomilola Majekodunmi, Co-Founder and CEO of Bankly; Obi Emetarom, Co-Founder and CEO of ZONE; Oladipo Alabede, Regional Managing Director, West Africa (Acquiring) Network International; Obianuju Odukwe, VP of Digital & API Ecosystems at Interswitch Group; Ashley Immanuel, Co-Founder and COO of SemiColon; Chijioke Dozie, Co-Founder of Carbon; Yewande Sulaiman, Managing and Product Consultant at ProduqtEdge.

With its hybrid format, participants from around the world can access the same quality of discussions and speakers. To register for the Fintech Summit, interested participants can click on https://fintech.firstbanknigeria.com/#/?lang=en

Speaking on the Summit, the CEO FirstBank Group, Olusegun Alebiosu said “This year’s summit provides a platform to unite industry leaders, innovators, regulators, and thought leaders to explore how collaboration and partnerships can shape the future of financial services and technology. As FirstBank continues to lead in innovation, this event presents another unique opportunity to engage with key stakeholders and deepen our understanding of emerging trends in the Fintech landscape emphasizing our role not only as a participant but also as a leading and preferred partner in the Fintech domain.”

The FirstBank Fintech Summit is one of the initiatives that the Bank has established to drive innovation and foster growth in the financial technology sector. By bringing together thought leaders and disruptors in the field, the Summit serves as a catalyst for transformative ideas and collaboration.

NNPC Ltd Disclaims Video of Adulterated Fuel Sold in Bottles, Jerrycans

The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd) has been drawn to the video clip of someone pouring a dark liquid which he claims to be Premium Motor Spirit (PMS) purportedly bought from an NNPC Retail outlet at Keffi Flyover, and wishes to state as follows:

That we have carried out spot checks at all our outlets and found this claim to be false. The product was not, and could not have been bought from any NNPC Retail outlet as the company does not dispense petroleum products into bottles or jerrycans as displayed in the video.

That NNPC Retail Ltd does not deal in adulterated products as it adheres to rigorous standards and quality control measures at every stage in its operations to ensure that only high quality, safe, and reliable petroleum products are available at its stations nationwide.

That members of the public should discountenance the spurious claims made in the video and be wary of selfish and unpatriotic elements pushing such narrative as they do not mean well for the country.

That we take pride in maintaining accurate pump integrity with regular inspection and calibration to ensure consistency across our stations nationwide.

Olufemi O. Soneye
Chief Corporate Communications Officer
NNPC Ltd.
Abuja.

PSA: What You Need to Know about CNG Cylinders in Your Hybrid (Converted) or Full CNG Vehicle

Did you know?
The lifecycle of a Compressed Natural Gas (CNG) cylinder is at least 15 years. After this period, cylinders must be inspected, replaced, or removed to ensure safety and optimal performance. This standard is consistent worldwide, reflecting a commitment to safe and sustainable energy solutions.

Global CNG Policies and Success Stories:
– India: The Indian government has actively promoted the adoption of CNG, especially in public transportation. Cities like Delhi have mandated using CNG for buses and auto-rickshaws, significantly reducing air pollution and enhancing public health. As of 2024, India plans to establish 20,000 CNG stations by 2030 to support its growing fleet of gas-based vehicles, reinforcing its commitment to cleaner fuel.

– Malaysia: Malaysia’s government has promoted CNG usage among taxicabs and airport limousines since the late 1990s. With the removal of fuel subsidies beginning in 2008, the country saw a 500% increase in new CNG cylinder installations, especially among private vehicle owners. Recently, Malaysia launched a program to recall and replace all cylinders installed 15 years ago, providing free replacement to ensure continued safety and compliance.

– Canada: Enbridge Gas Distribution, Canada’s largest natural gas distribution company, operates one of North America’s largest natural gas vehicle fleets, with over 675 natural gas vehicles. This initiative has reduced fuel costs and aligns with corporate social responsibility goals, setting a standard for CNG fleet adoption.

– Germany: The Volkswagen Group, in collaboration with industrial partners, has been promoting CNG as part of a national strategy to achieve 1 million CNG vehicles on German roads by 2025. This commitment represents a significant investment in alternative fuels and highlights the role of public-private partnerships in advancing sustainable fuel options.

How Does This Align with Nigeria’s CNG Policy?

In Nigeria, the PCNGI initiative actively tracks all vehicles converted to CNG, creating a comprehensive safety network for cylinder monitoring. A Nigerian Gas Vehicle Monitoring System is in development, which will simplify the process for vehicle owners to bring in hybrid or fully converted cars when cylinder replacements are due. This way, authorised technicians can safely replace or remove your cylinders after 15 years.

Should You Worry?

No need! The savings you’ll gain from using CNG will far outweigh the lifespan of the cylinder, offering peace of mind and economic benefits. Most drivers save substantially over time with CNG, covering both fuel costs and maintenance savings.

Fuel Savings:
With petrol and diesel prices exceeding 1,000 naira per litre, switching to CNG—currently priced at 230 naira per litre—provides significant cost savings for you. And remember, a litre of CNG equates to multiple litres of petrol, enhancing these savings even further.

FACT OF THE DAY:
The PCNGi is on track to deliver 100,000 CNG conversion kits by the end of this year, with about half of this target already installed and more conversions happening daily. Their near-term goal is to convert at least 1 million vehicles by 2027, ensuring the infrastructure and resources are in place to support the demand.

Who is Switching?
– Transporters are converting to CNG to benefit from reduced costs.
– Major Nigerian manufacturers are converting trucks and factory operations to CNG, embracing cleaner and cost-effective fuel solutions.
– Rideshare drivers (such as Uber) who have converted are already making up to 5x profits due to lower fuel costs.

Visit an authorised conversion centre to make the switch today. Nigeria is shifting to safer, more affordable, and readily available CNG. The choice to #SwitchToCNG is yours.

What’s your choice?

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