news

Ecobank Nigeria launches RapidTransfer Mobile Remittance App

Published

6 years ago

October 29, 2018

In line with its tradition of leadership in digital banking in Africa, Ecobank has introduced a dedicated mobile remittance app Rapidtransfer.

Rapidtransfer app was unveiled by the Managing Director, Ecobank Nigeria, Mr. Patrick Akinwuntan at a commemorative dinner to thank and celebrate outgoing members of the Ecobank Nigeria Board and to welcome its newly appointed directors.

According to Akinwuntan, Rapidtransfer will enable Nigerians in diaspora to send funds home at a reduced cost.

Mr Akinwuntansaid: “Historically the cost for Nigerians in the diaspora to send funds home has been far too high, while the process itself has long been inefficient and burdensome. Customers often have to physically visit an agent and yet are left with little or no clarity as to when the funds will actually reach the intended recipient. Rapidtransfer removes all of these issues and its standout affordability will be a gamechanger in the way that Nigerians can send money to their loved ones.”

At the dinner, Mr Patrick Akinwuntan, who was officially welcomed into his new role as Managing Director and Regional Executive of Ecobank Nigeria, and on to the Ecobank Nigeria Board of Directors said. “Many Nigerians work elsewhere in Africa, or further a field, and financially support their relatives back home,” he commented. “Rapidtransfer is a safe and secure low-cost remittance solution, which ultimately will put more money into the hands of the recipient. This will have a multiplier effect on the Nigerian economy by boosting demand and driving business growth.”

As well as being intuitive, easy to navigate and multi-lingual with English, French, Spanish and Portuguese variants, the app provides simple and secure digital onboarding. Users can choose how and when funds are delivered to the intended beneficiary, with transparent foreign exchange rates prior to each transaction. Charges range from 0% to 3% depending on the options the customer selects. The Rapidtransfer mobile app will enable Nigerians anywhere to easily and instantly send money to bank accounts, mobile wallets and cash collection in – and across – 33 African countries and globally.

Nigeria is Africa’s largest recipient of international remittance inflows and is also the fifth largest remittance recipient globally. It received US$22 billion in 2017[1], which accounted for 5.6% of Nigeria’s Gross Domestic Product (GDP). In 2015[2] remittances received included $5.59 billion from the United States, $3.7 billion from the United Kingdom and $2.29 billion from Cameroon.

In the first quarter of 2018, the average cost of sending US$200 globally was 7.1%, and remittance services in Sub-Saharan Africa were the costliest in the world at an average cost of 9.4%. The International Sustainable Development Goal aims to reduce the average transaction cost of remittances to less than 3% of the remittance amount by 2030[4].

In a rousing speech during the proceedings, Mr Akinwuntan also took the opportunity to outline his vision for driving Ecobank Nigeria forward and assure his fellow Board members of his ambitions for growth. “Ecobank Nigeria must be the jewel in the Ecobank crown and the affiliate that sets the roadmap for others to follow,” he said. “We will do this by providing customer service excellence and a suite of innovative and convenient banking services that makes banking easy for retail and corporate customers alike.

“Nigeria has a vibrant population of 180 million and I want a large share of these to be served by Ecobank. Therefore, I am setting an audacious customer growth target against the group goal to serve 100 million customers by 2020. We currently have 9 million customers in Nigeria and I want to grow this to 40 million customers within two and a half years. This may be a huge challenge but I resolutely believe that it is one that can be achieved.”

The Ecobank Rapidtransfer mobile app can be downloaded from the App Store or Google Play.

-ENDS-

news

Prophet Ikuru bombarded with calls from opposition parties to join them against 2027

Published

1 day ago

December 23, 2024

Sahara Weekly

By Collins Nkwocha

Prophet Godwin Ikuru has cemented his position as one of the leading prophets on the African continent, as an integral part of APC , the prophetic hall of fame never hid his love for the president, Ahmed Bola Tinubu whom he prognosticated into power and fought several battles for his sake

It’s alarming to discover that several political parties are wooing the handsome prophet against 2027 as they believe that his true potential is being underutilised in APC who left him without a portfolio,they kept bombarding him with numerous calls for him to leave the ruling party and join them against 2027

Despite the numerous calls and emissaries sent by the opposition parties,the prophetic hall of fame has kept faith with APC because of the unending love he has for Mr.president,Asiwaju Bola Ahmed Tinubu as he’s willing to remain with him despite all the happenings and odds.

news

Director General NSC, Bar. Bukola Olopade Extends Christmas Greetings to Christians in Abeokuta South and Across Nigeria

Published

3 days ago

December 21, 2024

Sahara Weekly

Director General NSC, Bar. Bukola Olopade Extends Christmas Greetings to Christians in Abeokuta South and Across Nigeria

By Solanke Ayomideji Taiwo

In a heartfelt message, The Director General of the National Sports Commission (NSC), Honourable Bukola Olopade, has extended warm festive greetings to Christians in Abeokuta South, Ogun State, and across Nigeria as the nation embarks on the joyous celebration of Christmas.

Recognizing the significance of this time of year, Olopade emphasized the essence of unity, love, and gratitude that the Christmas season embodies. He urged citizens to reflect on the virtues of compassion and generosity, which are particularly vital in fostering peace and harmony in communities.

“Christmas is a time for joy, reflection, and togetherness. It reminds us of the values of love and kindness, which are fundamental to our social fabric,” said Olopade. “As we celebrate this festive season, let us remember those in need and extend a hand of support to one another.”

The Director General of the National Sports Commission (NSC), Honourable Bukola Olopade, acknowledged the challenges that many have faced over the past year, including economic hardships and social unrest, yet he expressed optimism for the future. “In the spirit of Christmas, let us embrace hope and look forward to a brighter tomorrow. Our unity and resilience can overcome any challenges we face.”

Olopade also highlighted the importance of sports in promoting peace and national unity, noting that the NSC is committed to fostering an inclusive environment where all Nigerians can participate in sports and recreational activities. He encouraged communities to engage in sports events during the festive period as a means to strengthen bonds and celebrate togetherness.

As part of his Christmas message, Olopade called on everyone to prioritize the welfare of others, particularly the less fortunate. He urged individuals and organizations to consider charitable acts that can uplift those in need during this season of giving.

In closing, Bar. Bukola Olopade wished all Nigerians a Merry Christmas filled with love, peace, and joy. He expressed hope that the spirit of the season would inspire a renewed commitment to community service and cooperation among citizens.

As the festivities continue, the Chairman’s message resonates with the values of compassion, unity, and hope, encouraging all to celebrate the true meaning of Christmas.

Business

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

Published

3 days ago

December 21, 2024

Sahara Weekly

Dangote Hails Tinubu on Impact of Crude for Naira Swap Deal

…As Dangote Refinery partners MRS to sell PMS at N935 per litre nationwide at its retail outlets

Sahara Weekly Unveils That The Foremost entrepreneur and President of the Dangote Industries Limited, Aliko Dangote has commended President Bola Ahmed Tinubu for the positive impact of the naira for crude swap deal on the Nigerian economy, which has led to reduction in prices of petroleum products in the country.

To provide succour to Nigerians, Dangote recently reduced the price of Premium Motor Spirit (PMS) from N970 to N899.50 at its Refinery loading gantry and provided generous credit terms to marketers.

“To ensure that this price reduction gets to the end consumer, we have signed a partnership with MRS to sell petrol from its retail outlets nationwide at N935 per litre” he added. This price has already commenced in Lagos, and it will be offered nationwide from Monday.

In his statement, he called on other oil marketers such as the NNPC Retail and all other marketers, “to work with us to ensure that Nigerians enjoy high-quality petrol at discounted prices.”

According to him, “The Dangote Refinery is for the benefit of Nigeria and Nigerians. We will therefore continue to work with various value chain players to deliver high quality petrol at cheaper prices. Our aim is for all Nigerians to have ready access to high quality petroleum products that are good for their vehicles, good for their health, and good for their pockets.

Recall that in September, the Federal Executive Council (FEC) under the leadership of Mr. President approved the sale of crude to local refineries in Naira and corresponding purchase of petroleum products in Naira. The move, which commenced on October 1, led to reduced pressure on the dollar and ensured the stability of the local currency.

Dangote thanked Nigerians for their unwavering support and the government for creating an enabling environment for the domestic refining industry.