BREAKING! Opay Begins Charging Of N50 Electronic Transaction Fee

OPay is set to apply a transfer fee of N50 for transactions exceeding N10,000.

OPay has introduced a new fee for electronic transfers into both personal and business accounts, in accordance with the regulations set forth by the Federal Inland Revenue Service.

Beginning September 9, 2024, there will be a one-time charge of N50 for transfers of N10,000 or more.

On Saturday, OPay communicated to its valued customers:

“Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will be applied for electronic transfer of N10,000 and above paid into your personal or business account in compliance with the Federal Inland Revenue Service regulations.”

GTCO’s Guaranty Trust Bank Named Best Bank for Corporate Social Responsibility in Nigeria by Euromoney

– Guaranty Trust Bank Ltd (“GTBank,” or “the Bank”), flagship subsidiary of Guaranty Trust Holding Company Plc (GTCO), one of the largest financial services institutions in Africa, has been named Best Bank in Corporate Social Responsibility in Nigeria at the prestigious Euromoney Awards for Excellence 2024.

This recognition underscores GTCO’s unwavering commitment to excellence, going beyond offering innovative financial services and creating more value for its stakeholders to enriching lives and constantly exploring new opportunities to drive positive change in society.

Announcing the Award, Euromoney highlighted the range and impact of GTCO’s CSR initiatives spanning education, health, community development, and financial inclusion. Over the years, Guaranty Trust has not only led with innovation and service excellence, but also consistently demonstrated a steadfast dedication to making a positive impact and creating shared value through CSR. Central to these efforts are its consumer-focused events—the GTCO Food and Drink Festival and the GTCO Fashion Weekend—both of which offer free business platforms for budding as well as established entrepreneurs to showcase their talents, share their unique stories, and connect with a broader audience. The Annual GTCO Autism Programme, an offshoot of the Orange Ribbon Initiative, aims to provide ongoing support for persons with developmental disabilities, focusing on those with autism spectrum disorder (ASD).

Commenting on the Award, Segun Agbaje, Group CEO of Guaranty Trust Holding Company Plc, stated: “As a Proudly African institution, we recognise that our success is inextricably linked to the well-being of the society in which we operate. Our commitment to corporate social responsibility is deeply rooted in our belief that businesses must act as a force for good, driving sustainable progress, and fostering inclusive growth. Over the years, we have successfully developed several free-business platforms and continue to sponsor impactful social causes that have benefited millions of people and businesses across Africa. This recognition from Euromoney is a testament to the far-reaching impact of our initiatives, and it reinforces our resolve to create enduring value and ensure better outcomes for all.”

About GTCO

Guaranty Trust Holding Company Plc is the ultimate holding company of the GTCO Plc Group, one of the largest financial services institutions in Africa. Headquartered in Lagos, Nigeria, Guaranty Trust Holding Company Plc maintains direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom. Within these regions, the operating entities provide a comprehensive range of commercial banking and related financial services to millions of retail, institutional, private banking and wealth management customers, in addition to asset management, pension fund administration and payment technology businesses.

GTCO’s leadership in the banking industry and efforts at empowering people and communities has earned it many prestigious awards over the years. Guaranty Trust Bank is a Twelve-time winner of Euromoney’s Best Bank in Nigeria award and was recently named Nigeria’s Strongest Brand and Best Banking Brand in Nigeria by Brand Finance and Global Brands Magazine, respectively.

NIPR appoints Rasheed Bolarinwa, Head FinanceHub Committee

Governing Council, Nigerian Institute of Public Relations, NIPR, has announced the appointment of Rasheed Bolarinwa, the President, Association of Communication and Marketing Professionals in Banks, ACAMB, as chairman of its newly created Management Committee of FinanceHub.

NAN reports that the committee, comprising of banking, insurance, and pensions, is meant to deepen sustainable Public Relations practice in the finance sector.

Bolarinwa is expected to bring his wealth of experience from journalism, PR and the financial sector to the banking, insurance and pension sectors alongside other appointees from maritime and aviation sectors of the economy.

Bolarinwa is currently the Head of Brand Management and Corporate Communication at Polaris Bank.

He was re-elected President of ACAMB, the umbrella body of all corporate and marketing communications heads of banks in Nigeria, in January 2024 after a two-term as secretary-general of the association.

The committee members are expected to deepen sustainable PR practice.

Other appointees as chairpersons of other newly created sectoral hubs included Mrs. Thelma Okoh to head Maritime Hub; Dr. Jossy Nkwocha, Energy Hub and Mr. Basil Agboarumi for Aviation Hub.

Also appointed were Dr. Ahmad Sajoh for Anti-Corruption and Consumer Protection Hub and Miss Chimdi Neliaku to lead Young Practitioners Hub.

The nomination letters sent to the newly appointed chairpersons was signed by Uzoma Onyegbadue, the Institute’s Registrar/Secretary to the NIPR Governing Council.

The institute explained that the creation of the sectoral hubs was meant to build sustainable and viable public relations practices across the listed sectors.

Speaking at the inauguration of the Chairmen and Committee Members of the Sectoral Hubs, the National President of NIPR, Dr. Ike Neliaku, expressed satisfaction with the pedigree of the nominees.

“Your appointment’s are considered well thought out. It reflects the trust and confidence the NIPR council places in your expertise, commitment and dedication towards contributing to achieving the objectives of the Hub,” he said.

Neliaku, accompanied by other governing council members, pledged his support and that of the council to the sectoral hubs.

He said, “We look forward, with excitement, to working together with you all to make a positive impact on sustainable and viable public relations practices in the respective sectoral hubs in Nigeria.”