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FIRSTBANK HOSTS FINTECH SUMMIT 5.0

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FirstBank Bounces Back to its Leadership Position, Delivers a Fantastic Performance in 2021

FIRSTBANK HOSTS FINTECH SUMMIT 5.0, HIGHLIGHTS THE IMPACT OF OPEN BANKING ON FINANCIAL INCLUSION

 

 

 

 

 

 

 

 

Sahara Weekly Reports That FirstBank of Nigeria Limited, Nigeria’s leading financial inclusion services provider, has announced that the 2021 edition of its annual FINTECH Summit is scheduled to hold on Thursday, 7 October 2021 by 10:00 am. The virtual event is opened to everyone, but participants are required to register via the link https://firstbanknigeria.zoom.us/webinar/register/WN_NmkYfeckQqu4vjTWy5lr5w

 

 

 

 

 

FIRSTBANK HOSTS FINTECH SUMMIT 5.0

 

 

 

 

The 2021 edition of the summit which is the fifth in its series is themed; “Open Banking and its Derivative Opportunities for the Financial Ecosystem” and will be discussed by experts, policy influencers, regulatory officials as well as key and leading players in the Nigerian financial, banking and technology climate.

 

 

 

 

 

 

 

 

 

Prof Ndubuisi Ekekwe, the Lead Faculty of Tekedia Institute with a PhD in engineering from John Hopkins University, USA, will be leading the discussion as the Keynote speaker alongside other panelists; Ankit Sharma, Director at Strategy&, a part of the PwC network, based out of Mexico; Ope Adeoye, CEO (Chief Plumber) at One Pipe; Aminu Maida, Executive Director, Technology & Operations at Nigeria Inter-Bank Settlement System Plc (NIBSS), Musa Jimoh, Deputy Director, Payment Systems, CBN and Olayinka Situ, Head, Corporate Transformation, FirstBank.

 

 

 

 

 

 

 

 

 

 

 

The need for Open Banking in Nigeria cannot be overemphasized as the importance goes beyond just convenience to its game-changing impact in transforming value creation, product conceptualization and closing the financially excluded gap.

 

 

 

 

 

 

 

 

 

 

 

 

Through standardized and accessible open API technologies, innovators and product developers alike are now availed a wealth of big data and attendant insights, with the potential to completely redefine standards for product conceptualization, customer satisfaction and service delivery across Africa’s largest economy. This is the focus of this year’s theme; exploring the depth and range of these derivative opportunities set to be triggered by the application of an Open Banking regime in the country.

 

 

 

 

 

 

 

 

 

 

 

 

Building up conversations into the event, the Bank recently hosted several podcasts with speakers sharing insightful tips that will impact an end–to–end growth of financial technology in the country. The podcasts are enhanced with useful nuggets as there is new and useful information for everyone.

 

 

 

 

 

 

 

 

 

 

 

Guests discussants in the podcasts include; Joshua Chibueze, Co-founder and Chief Marketing Officer of PiggyVest, a Nigerian FinTech company committed to giving everyone the power to better manage their growth and finances; David Peterside, Chief Operating Officer of Okra, a fintech company committed to empowering companies and developers to build products with seamless access to inclusive financial data and secure payments. The podcasts which are opened to everyone are available on the Bank’s official Instagram handle – firstbanknigeria.

 

 

 

 

 

 

 

 

 

 

 

 

Speaking on the event, the Chief Executive Officer of FirstBank, Dr Adesola Adeduntan said, “our annual FinTech Summit in the past four years has been a platform of leading conversations and practices that have impacted the financial technology and electronic banking eco-system which has been integral to bridging the gap and digital divide of modern banking in today’s global village. Participants at our summits have been enlightened on ways to optimally carry out their digital transactions and business activities in safe and seamless ways.

 

 

 

 

 

 

 

 

 

 

 

 

Financial services have continually evolved in Nigeria and the world over and we intend as in previous years to use our FinTech summit this year to discuss different views on Open Banking and its associated opportunities with the goal of building on the successes achieved in the past’’.

 

 

 

 

 

 

 

 

 

 

About FirstBank

First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading financial inclusion services provider in Nigeria for over 127 years.

 

 

 

 

 

 

 

 

 

 

 

 

 

With over 750 business locations and over 130,620 Banking Agents spread across 99% of the 774 Local Government Areas in Nigeria, FirstBank provides a comprehensive range of retail and corporate financial services to serve its over 30 million customers. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing.

 

 

 

 

 

 

 

 

 

 

The Bank has been handy at promoting digital payment in the country and has issued over 10million cards, the first bank to achieve such a milestone in the country. FirstBank’s cashless transaction drive extends to having more than 10million people on its USSD Quick Banking service through the nationally renowned *894# Banking code and over 4.5 million people on FirstMobile platform.

 

 

 

 

 

 

 

 

 

 

Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.

 

 

 

 

 

 

 

 

 

 

FirstBank has been named “Most Valuable Bank Brand in Nigeria” six times in a row (2011 – 2016) by the globally renowned “The Banker Magazine” of the Financial Times Group; “Best Retail Bank in Nigeria” for seven consecutive years (2011 – 2017) by the Asian Banker International Excellence in Retail Financial Services Awards and “Best Bank in Nigeria” by Global Finance for 15 years. Our brand purpose is always to put customers, partners and stakeholders at the heart of our business, even as we standardise customer experience and excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision “To be the partner of the first choice in building your future”. Our brand promise is always to deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on our inherent values of passion, partnership and people, to position You First in every respect.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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GTCO vs. Very Dark Man: Why Nigerians Must Stop the Judgment of Emotions

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*GTCO vs. Very Dark Man: Why Nigerians Must Stop the Judgment of Emotions*

By Osho Oluwatosin

The internet has literally been on ‘fire’ since Friday following the arrest of self-acclaimed Nigerian activist, Martins Vincent, also known as Very Dark Man. He was reportedly picked up by the Economic and Financial Crimes Commission (EFCC) for reasons yet unknown.

While it’s not the first time VeryDarkMan or any prominent Nigerian would be arrested by the EFCC — a government agency not under the authority of any private organization — it seems some Nigerians are passionately trying to push a narrative that his arrest was orchestrated by one of Nigeria’s biggest financial institutions, Guaranty Trust Holding Company (GTCO).

Although this narrative isn’t far-fetched — VDM had criticized the bank due to ‘mysterious’ deductions from his mother’s bank account for unjustifiable reasons. He approached the bank’s branch in Abuja to make an official complaint and, afterwards, he was picked up by the EFCC. But what many Nigerians have failed to realize is GTCO may not even be involved in his arrest.

VeryDarkMan was seen in the bank, quite alright, but in a CCTV released by the bank, he was seen moving out of the bank when he finished. He even had a celebrity moment with some of his followers who took pictures with him before he was arrested. So I’m wondering, what has GTB got to do with his arrest? That someone got knocked down by a vehicle after leaving church, does it mean the church orchestrated the accident? That someone got attacked after leaving a lecture room, does it mean the lecturer orchestrated it? That someone even got attacked in a courtroom, does it mean the judge orchestrated it? Absolutely not.

Although it would have been better if the EFCC had come out to clear the air regarding the reason for VDM’s arrest, because in the absence of information, rumours are bound to thrive. In fact, the commission should have actually released a statement regarding these rumours, not to vindicate GTB, but to keep Nigerians informed.

Let’s even think about it logically: what can warrant GTCO to order VDM’s arrest by the EFCC? Did he defraud GTCO? Did he steal from a GTB customer? Did he launder money through a GTB account? These are questions that should be asked before passing judgments. But Nigerians are always emotional when it comes to issues like this, and that’s why people who are culpable in serious crimes get away with anything as long as they get involved in charity or activism.

GTCO has been a very friendly organization, and in 2024 alone, the bank paid a record dividend of N8 per share. The bank is happy, shareholders are happy, customers are happy — who is Very Dark Man?

Osho Oluwatosin is a Nigerian journalist and writes from Lagos.

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Can We Have More Bankers Like Victoria Mulero? An epitome of ‘omoluabi’

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Can We Have More Bankers Like Victoria Mulero? An epitome of ‘omoluabi’

In February of this year, I needed to open a new bank account for salary purposes, as required by the management of the new company I had just joined.

I considered First Bank, Access Bank, and Sterling Bank. After some thought, I chose Sterling Bank—not because I found them superior—but because I believed they had fewer customers, which I hoped would save me from long queues and unnecessary delays.

I visited the Sterling Bank branch at Akowonjo to open the account. Unfortunately, the staff member who attended to me didn’t inspire confidence. She appeared distracted—smiling at her phone, clearly engrossed in a private chat—far from the level of professionalism one would expect in a bank setting. I had a feeling this would lead to problems down the line.

 

When my first salary was paid into the account, my suspicion was confirmed. Sterling Bank restricted access to my funds—I couldn’t transfer money or make withdrawals at the counter. I visited their Fatai Atere branch at Ladipo, Mushin to complain, where I was informed that the account opened for me was a “Kaikai” account—a type I had never heard of. Apparently, this account type is meant for individuals who lack the required documents during account creation. But I had submitted all necessary documents, so why was such an account opened for me?

Can We Have More Bankers Like Victoria Mulero? An epitome of 'omoluabi'

At the Fatai Atere branch, I was attended to by a remarkable banker named Victoria Mulero. She requested my NIN, which I didn’t have on me at the time. Rather than send me back home, she asked if I had a digital copy. I did, and she graciously gave me her email address so I could forward it to her. With that, she resolved the issue promptly and professionally.

However, the following month, in March, the same restriction happened again. I returned to the Fatai Atere branch, and once again, Victoria Mulero handled my complaint with efficiency and kindness, resolving it without delay.

I hoped the matter was finally settled, but when my April salary arrived, the restriction was imposed yet again. This time, I was beyond frustrated and ready to replace Sterling Bank as my salary account. Still, I visited the Fatai Atere branch one last time. Once more, Victoria Mulero resolved the issue with grace and determination.

This write-up is a tribute to Victoria Mulero of Sterling Bank, Fatai Atere branch. She is a rare gem—respectful, diligent, and genuinely customer-focused. She went above and beyond, following up with the Akowonjo branch through calls and emails until the matter was fully resolved. She handled every situation with patience and empathy, treating the job as if the bank belonged to her family.

To be honest, I’ve had unpleasant experiences with many bankers, especially female staff. Too often, they carry personal frustrations into the banking hall and take it out on customers. But Victoria is different. She exemplifies what true customer service should be.

We may not all be the same, but treating people with respect and kindness is a skill that can be learned—and Victoria clearly has. Let’s celebrate her for being a model professional and a beacon of hope in an industry that too often lacks empathy.

Without any fear of contradiction, I say boldly that Victoria Mulero is a good ambassador of Sterling Bank and her parents too deserve encomium for raising a well trained daughter and impacting an attitude of ‘ omoluabi’ in her. We need more of Victoria Mulero in our banking industry.

Seun Jacob Ogunbiyi
Known as Olùkọ́, the therapeutic writer and Lagos based journalist

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Air Peace Airlines’ failure to adhere to scheduled departure times results in prolonged delays …causing undue hardship for Nigerians on board

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Air Peace Airlines' failure to adhere to scheduled departure times results in prolonged delays ...causing undue hardship for Nigerians on board ~Oluwaseun Fabiyi

Air Peace Airlines’ failure to adhere to scheduled departure times results in prolonged delays
…causing undue hardship for Nigerians on board

~Oluwaseun Fabiyi

Traveling is undoubtedly the most effective form of education, enabling individuals to observe human quirks from diverse perspectives

On Saturday, 3rd May 2025, an Air Peace Airlines flight from Akure Airport was delayed, causing undue inconvenience to a Nigerian traveller and a prominent Nigerian man of God, an unfortunate incident that befell the nation’s citizens

Does Nigerian law consider it a criminal offense for travelers to book flights with Air Peace, a leading Nigerian airline, instead of other airlines that fail to depart on schedule, such as remaining at 10am instead of departing at 10am? Certainly, some Nigerian citizens may opt to travel with airlines like Arik, Aero, Dana, rather than Air Peace.

Air Peace Airlines' failure to adhere to scheduled departure times results in prolonged delays
...causing undue hardship for Nigerians on board
~Oluwaseun Fabiyi

It is evident that many Nigerians actually believe Air Peace airline came to rescue Nigerians from the subpar fly-and-die experience of other airlines, such as Dana, which is why many have fallen in love with Air Peace Airlines’ domestic operations

 

Air Peace Airlines’ decision to reschedule a 12:00 flight from Akure in Ondo State to 3:00 on Saturday, 3rd May 2025, has been met with disappointment from some affected Nigerian passengers, who deem this change unreasonable and unjustified.

Nigeria is hindered by self-imposed challenges that impede our collective advancement. I remain optimistic that future leadership will emerge, focusing on nuanced details that cumulatively enhance the lives of citizens, including access to housing, affordable food, petrol, quality healthcare, and a decent standard of living. The fact that we produce rice, only to have its price inflated by some, thereby rendering it unaffordable, is a pressing concern

It is baffling to me why some people or airlines deliberately provide poor services, causing undue hardship for their passengers, without taking the courtesy to apologize

How can passengers ensure they arrive at Akure Airport by 10 a.m. to catch a 12 p.m. flight from Akure to Lagos and complete check-in as usual

Only for them to fall victim to an extremely harrowing experience. The first indication was the outrage of a passenger at the Nigeria Air Peace counters. He yelled at the ticketing officials that his time had been wasted by three hours and demanded to be refunded his money, as his business was equally affected.

The scene was remarkably congested, and indeed there was an exceedingly large number of passengers traveling to Lagos on this particular Air Peace flight.Which none of them can comprehend what could cause a delay from 12 O’clock to 3:15 pm, without considering individuals with an assignment or occasion in Lagos, is so crazy and devastating.

*How Passengers suffer through endless delays waiting for Air Peace aircraft.*

Accordingly, they embarked on an extended wait after Air Peace notified them that the flight had been postponed by an hour. Ultimately, the delay proved to be three hours, with the flight arriving at 3:30 pm, followed by the commencement of boarding procedures

On a final note the Nigerian aviation industry, including airlines, can certainly improve their treatment of fellow Nigerians

Onboard passengers display concern and raise eyebrows.

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