Tag: Wole Adeniyi

Stanbic IBTC Bank Completes First Inbound Commercial Transaction On PAPSS.

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has completed the first inbound commercial transaction on the Pan African Payment and Settlement System (PAPSS) in Nigeria, making history. PAPSS is an initiative of the African Union and the AfCFTA Secretariat, designed to provide a secure and efficient payment platform for African businesses, promoting intra-African trade and economic integration by facilitating payments and settlements for cross-border transactions within Africa in local currencies.

The transaction, worth NGN5 million, was carried out on behalf of a key corporate client from Ghana Commercial Bank (GCB) on Friday, 03 March 2023, marking the first inbound commercial transaction on PAPSS for Stanbic IBTC and Nigeria.

Wole Adeniyi, Chief Executive of Stanbic IBTC Bank, said, “We are delighted to have successfully processed our first inbound commercial transaction on PAPSS. This deal underscores our pledge to provide our clients with efficient and secure payment and settlement solutions that support their growth and expansion across Africa. We look forward to leveraging our expertise and the capabilities of PAPSS to enable more African businesses to tap into the opportunities presented by intra-African trade.”

Jesuseun Fatoyinbo, Head of Transaction Banking at Stanbic IBTC Bank, also expressed confidence in the PAPSS platform, saying, “This is a testament to the effectiveness of PAPSS in facilitating cross-border payments and settlement in a fast, secure, and cost-effective manner. We are proud to be at the forefront of this initiative and commend the efforts of Afreximbank and the African Union in developing the PAPSS platform and promoting intra-African trade.”

Mike Ogbalu III, Chief Executive of PAPSS, said, “We are delighted that Stanbic IBTC has completed its first inbound commercial transaction on PAPSS. This is a significant step towards achieving our goal of promoting intra-African trade and facilitating cross-border payment and settlement of transactions in African currencies. We believe that PAPSS has the potential to revolutionize the way businesses trade and settle transactions in Africa.”

Chapel Hill Denham, the transaction recipient, expressed satisfaction with the seamless and efficient processing of the PAPSS platform, noting that it has the potential to unlock immense opportunities for African businesses.

Stanbic IBTC Bank has reiterated its commitment to supporting the growth of intra-African trade and will continue to leverage its expertise and innovative solutions to provide efficient and secure payment and settlement solutions that enable clients to unlock the full potential of the African market.

April 1, 2023
Stanbic IBTC Enhances Intercontinental Trade, Holds Africa-China Trade Expo

Stanbic IBTC Holdings, a member of Standard Bank Group, remained relentless in enhancing international trade between Africa and China. The financial institution recently hosted the Africa-China Trade Expo to promote trade relations and boost economic prosperity in the two regions.

The two-day hybrid event, which was held on 10 and 11 August 2022, featured industry experts and professionals from Nigeria, South Africa, and China. The event, themed ‘Synergy for Growth’, focused on export enablement and import policies, bilateral trade relations, product exhibitions by Nigerian and Chinese businesses, and the various means through which Stanbic IBTC had facilitated trade between Nigeria and China.

In his opening remarks, the Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, disclosed that Stanbic IBTC’s Africa China Trade Solutions (ACTS) had connected numerous Nigerians to over 16,000 Chinese suppliers, and thereby promoted valuable trade relationships between the two economies. He said: “Through our relationship with the Industrial and Commercial Bank of China (ICBC), we connect various businesses while we create opportunities to generate foreign exchange for the country.”

The need for business-friendly import and export policies was extensively addressed at the event. Ade Otukomaya, Head, Africa China Banking, Stanbic IBTC Bank, stated that business-friendly import and export policies would facilitate increased intra-regional and international trade. “Policies, which are a deliberate system of guidelines to achieve rational outcomes, are key to improving trade relations. We want to encourage more trade and pursue open trade policies with other nations such as China, to catalyze the growth of Africa’s economy,” Ade said.

In the same vein, Remy Osuagwu, Executive Director, Business and Commercial Clients, Stanbic IBTC Bank, said: “African businesses can now export agro commodities and other products to China at subsidized rates. Chinese clients can also import and export goods and services from their provinces to Africa at lower costs. This will increase revenue for both nations, encourage market diversification and foster better international economic cooperation between the two nations. Our trade partners, Zhejiang International Trading Supply Chain Limited, have simplified the processes to enable seamless trade transactions between clients in both nations.”

According to Remy, improved trade relations between Africa and China will trigger business growth, which in turn will promote the development of commercial trade services, enhance import and export of commodities, and boost economic development.

Remy highlighted that market diversification, would yield positive results. “The sole focus on the domestic market exposes clients to an increased risk from downturns in the economy, environmental events, or other risk factors. Less dependence on a single market helps to mitigate potential risks and can open avenues for new product lines or commodities across nations. The Africa-China Banking Conference and Exhibition will provide a new platform for economic cooperation, coordination of import and export of bulk commodities, trade promotion activities, and the sustained development of our foreign trade relations with China.”

Seun Ogundolapo, Head Trade, Transactional Products and Services, Stanbic IBTC Bank, remarked that the RT200 FX Policy by the Central Bank of Nigeria (CBN) will encourage more businesses to go into export as well as prompt exporters to add value to the commodities they export.

He said “The RT200 policy is designed to increase the nation’s earnings exclusively from non-oil exports to $200 billion in foreign exchange repatriation, within the next three to five years. This is also in line with our mandate to promote exports of agro commodities and semi-finished or finished goods to other countries.”

August 18, 2022
Stanbic IBTC Set To Host 2022 Africa-China Trade Expo

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, would host the 2022 Stanbic IBTC Africa China Trade Expo as part of its efforts at promoting trans-regional trade and development between Nigeria and China. The trade expo would feature a panel discussion, masterclasses on trade, a presentation on the Stanbic IBTC Africa China Trade Solutions and a fully virtual exhibition.

The two-day hybrid conference and exhibition-themed “Synergy For Growth’ is slated for 10 and 11 August 2022, and is geared at providing insights and opportunities for participants. The event would serve as an avenue to showcase Nigerian and Chinese exhibitors, and would as well provide opportunities to build relationships within the trade community.

The physical conference is planned to feature keynote speeches and panel discussions by highly experienced subject matter experts and thought leaders in relevant industries and would be an opportunity for exporters and importers to engage and create a marketplace experience.

Speakers slated for the event include Philip Myburgh, Head, Pan-African China Banking, Standard Bank Group; and Ade Otukomaya, Head, Africa China Banking, Stanbic IBTC Bank. Others are Remy Osuagwu, Executive Director, Business and Commercial Clients, Stanbic IBTC Bank; and Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC.

The panel discussion, with the theme ‘Promoting Export Activities through Synergy’, would have Samuel Oyeyipo, Deputy Director and Regional Coordinator, Nigerian Export Promotion Council, South West Regional Office, Lagos; Luthando Vuda, Head, Africa China Trade in Business and Commercial Clients, Standard Bank Group; Jane He, Business Manager, Pan Africa China Banking, Business and Commercial Clients, Standard Bank Group, Fola Abimbola, Analyst, Senior, Frontier Africa Equity Research, Stanbic IBTC; and Victor Ayemere, Chief Executive, Zeenab Foods Limited, Operators of the Nigeria Export Trade House China/Far East Region as panelists.

Dr. Demola Sogunle, Chief Executive, Stanbic IBTC Holdings, spoke on the rationale for the conference. He highlighted that the Stanbic IBTC Africa-ChinaTrade Expo hybrid Conference and Exhibition would be geared at showcasing Nigeria and China trade opportunities while emphasizing the role of Stanbic IBTC in facilitating inter-regional trade.

“China is Africa’s biggest trading partner by far and can foster strong trade routes and economies of scale, offering an incredible opportunity to do more than just import goods. With the emphasis on building strong synergy and relationship between China and Nigeria, the Stanbic IBTC Africa-China Trade Expo is expected to provide insights into Nigeria and China trade relations and the role of Stanbic IBTC as a facilitator of inter-regional trade, as well as provide advisory services, allowing trade partners access and unlock the opportunities in Nigeria-China trade,” Demola said.

“The topics for discourse at the two-day hybrid conference and exhibition would centre on building synergy between Nigeria and China’s economies, building synergy between government agencies and driving export activities through policies and initiatives. Other topics would include building export activities in partnership with Stanbic IBTC and promoting competitive advantage for enhancing export.”

“The exhibition would also showcase vendors who export from Nigeria to China and vice versa, spanning across agriculture, manufacturing, equipment, processing and packaging firms,” Demola added.

The Chief Executive noted that through its Africa China Trade Solution (ACTS) and other networks of relations between Africa and China, the financial service provider continued to facilitate economic trade and development between Africa and the Asian country.

Stanbic IBTC’s trade solutions such as Stanbic IBTC Africa China Trade Solutions (ACTS) continued to enable settlement of international transactions and mitigation of payment risk while providing regional solutions such as issuance of payment guarantees and letters of credit to Nigerian exporters.

Click here to register for the event.

August 8, 2022
Stanbic IBTC Boosts Customer Experience with Digital Loans Solutions

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has said it would continue to boost customer experience through its digital loans. This is part of the company’s efforts to assist Nigerians with gaining access to affordable funding for personal and business use.

The non-collateralised loans, consisting of Stanbic IBTC Unsecured Personal Loan, Top-Ups, Smart Loan, EZ Cash, and Device Financing, would help customers access loans ranging from N20,000 to N20 million. All the loans can be accessed from any location 24/7 without having to visit the branch and without paperwork as they are all digitised end-to-end.

Commenting on the rationale behind the Stanbic IBTC Digital Loans, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, noted that the solutions were geared towards addressing the challenges facing individuals in accessing finance.

“The Stanbic IBTC Digital Loans, which are available via our Super App, our website, our *909# USSD service and Internet Banking, help alleviate some of the challenges individuals experience in meeting urgent financial needs. The loans are available to both new and existing customers of Stanbic IBTC and are geared towards helping customers meet their financial obligations at any time, no matter the urgency.”

According to the Chief Executive, “Customers, through the Stanbic IBTC Device Financing solution, can acquire new mobile devices from MTN partner stores and enjoy additional benefits such as 4GB data, 100 minutes talk time monthly and insurance against loss and screen damage.”

Through the Stanbic IBTC Smart Loan solution, customers of the bank who also have mutual fund investments with Stanbic IBTC Asset Management can access up to N20 million instant loan to finance personal and business projects while their investments continue to earn them returns.

With the upgraded Stanbic IBTC Unsecured Personal Loan, salary earners can apply for a top-up of existing loans through their mobile devices from the comfort of their homes.

Similarly, with Stanbic IBTC EZ Cash, customers can access loans of up to N7.5 million via the bank’s USSD code *909*44#, the My Bank Module of the Stanbic IBTC Mobile App and the Bank’s online banking portal. Customers can access loans quickly and conveniently with up to 48 months of repayment, depending on the loan type.

The Chief Executive reinforced that the bank would continue to design financial solutions that will meet the needs and enhance the financial growth of its esteemed customers. “With economic empowerment as a core pillar of our corporate social investment initiatives, we remain committed to ensuring not only the growth of our customers but also their business activities,” Adeniyi concluded.

June 30, 2022
Stanbic IBTC Bank PLC contributed over N10.2 billion to boost Healthcare Sector- Adeniyi

In fulfillment of its corporate social investment initiative pillars in Education, Economic Empowerment and Health, Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, continued to partner with stakeholders in the Nigerian health sector to further strengthen the system and give Nigerians access to quality and affordable healthcare.

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, pointed out that asides from taking part in various strategic partnerships with healthcare providers in the country, the organisation had so far contributed over N10.2 billion to boost the growth of the sector.

According to Wole, Stanbic IBTC Bank had contributed immensely to growing the Nigerian healthcare sector in several ways, including through the CBN Healthcare Sector Loan, which made available flexible loan facilities to stakeholders.

He added that out of the N10.2 billion, the Bank provided a N6.7 billion loan facility for the building of BAZE University Private Teaching Hospital in Abuja in 2021, and that the Bank created a N2 billion special fund for health care providers to buy equipment and improve health care delivery.

The Chief Executive noted that Stanbic IBTC Bank recently partnered with ISN Medical to offer interest-free loans of up to N1.5 billion to clinics, medical laboratories, diagnostic centres, and other healthcare providers for the procurement of medical diagnostic and healthcare products.

He stressed that through meaningful collaborations with various stakeholders in the health sector, Nigerians would continue to benefit tremendously from easy access to quality healthcare.

Speaking on the recent ISN partnership, Wole said: “We are happy to be part of this partnership. We believe that there are several benefits that both parties can derive from this collaboration. The loan facilities will go a long way in enabling healthcare providers to have access to up to N1.5 billion in medical equipment finance. We believe that our goal of enabling healthcare providers easy access to finance is achievable, especially through ISN Medical, a foremost supplier of medical diagnostic products and services in the country.”

He emphasised that Stanbic IBTC Bank would continue to engage in strategic partnerships that would be of great benefit to Nigerians seeking to access affordable and quality healthcare in addition to growing the health sector of the country.

Stanbic IBTC Bank remains committed to aligning itself to the Stanbic IBTC Group’s corporate social investment pillars of education, health, and economic empowerment, hence the organisation’s determination to support the Nigerian healthcare industry.

June 15, 2022
Stanbic IBTC Urges SMEs to Digitise Products and Services

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has urged small and medium size enterprises (SMEs) in Nigeria to digitise their products and services to drive business efficiency.

The call was made during the 2022 Enterprise Banking webinar organised by Stanbic IBTC, Themed ‘Your Business, Our Business: Accelerating Business Growth’, the webinar featured seasoned experts such as Muyiwa Oni, Head, Research, Stanbic IBTC Bank; Remilekun Ishola, Team Lead, Enterprise Banking, Stanbic IBTC; Philip Egbetho, Solutions Manager, inq. Digital Nigeria; Ayodele Ojosipe, Head, Enterprise Business Development, Stanbic IBTC; and Steve Harris, Business Strategist.

Speaking on the need for SMEs to digitise products and services, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, stated that the integration of digital technology into businesses would help SMEs achieve greater business efficiency.

He said: “The position of SMEs in the society has been identified as one of the most important catalysts in a nation’s development. In fact, it is the major propeller of development of any nation. A country that needs fast and rapid development should not neglect the crucial role of small-scale industries. However, to attain optimal business efficiency, digitisation of the products and services SMEs provide must be adopted immediately, across all enterprise business sectors.”

Highlighting the economic overview of the nation, Muyiwa Oni, Head, Research, Stanbic IBTC Bank noted that although Nigeria’s gross domestic product is gradually recovering, 2022, in its third month, comes with heightened political activities, increase in cash flow systems and some uncertainties due to the forthcoming 2023 elections, which is a pattern with electioneering in Nigeria. He advised SMEs to switch to digital platforms to conduct their businesses, and to look for innovative ways to serve their own customers.

Steve Harris, Business Strategist, stated that for small and medium sized enterprises to experience growth, there must be an emphasis on branding and packaging to effectively market their products and services. He also mentioned branding strategies for businesses to apply to accelerate their growth alongside worst strategies that businesses should avoid in 2022.

Addressing the issue of business growth, Remilekun Ishola, Team Lead, Enterprise Banking, Stanbic IBTC, said “One of our key objectives in the Business and Commercial Clients Division at Stanbic IBTC is to actively help businesses with financial solutions and funding that will accelerate their business and expand their capital base. We provide smart loans, SME advances, EZ loans and other credit facilities to augment the working capital of entrepreneurs, who need instant funding to meet up their day-to-day short-term obligations or commercial needs.”

Philip Egbetho, Solutions Manager, inq. Digital Nigeria, advocated for more businesses to digitise their products and services for better returns on investment.

According to him, “With a click on a computer or tablet, you can order food, purchase items online, buy gadgets, etc. Nowadays, drycleaners even have websites to advertise their services, and many SMEs have POS machines at their shops and stores. No need to go physically to a store to purchase items. This is because Nigeria is gradually transitioning from a traditional position to a modern viewpoint on conducting business activities, a shift to a digital economy. However, the pace at which this transition is taking place is slow, hindered by several impediments. If more SMEs were to digitise their products, more profit will be made and these businesses will be more efficient.”

Babatunde Akindele, Head Commercial Client Coverage, Stanbic IBTC Bank, while giving the closing remark, urged all SMEs to embrace digitisation, as that is the future of business.

April 21, 2022
Stanbic IBTC Launches Reward4Saving Promo Season 2

Stanbic IBTC Bank PLC, a subsidiary of Stanbic Holdings PLC, has launched season two of its savings campaign, Reward4Saving promo, as part of its continued commitment to promoting a savings lifestyle while rewarding its customers.

Themed Bigger and Better, the Bank said the second edition of the campaign promises to be bigger and better than the previous edition, with more prizes to be won this season.

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, stated that the Reward4Saving promo, Season two, would produce more millionaires across all regions in the country. “A total of ₦156,000,000 (one hundred and fifty-six million naira) will be awarded to over a thousand customers during this promo. The second edition of the Reward4Saving promo will reward 840 customers in the monthly draws, 10 customers each across seven zones will be rewarded with ₦100,000 each for the next twelve months. We will also reward 28 customers, one customer per zone with ₦1 million in the quarterly draws and seven customers, one customer per zone with ₦2 million in the grand finale,” he said.

“Stanbic IBTC is committed to promoting a savings culture in the society hence the campaign. We seek to encourage people to develop a habit of saving for unprecedented occurrences. As promised, we will continue to introduce more initiatives that will not only improve customer experience but also impact the lives of our customers.” he said.

Speaking on the importance of having reserve funds to cater for financial and personal needs, Wole noted that the Stanbic IBTC Reward4Saving promo Season two is an avenue to further appreciate the organisation’s esteemed new and existing clients while also promoting a savings culture.

“We are happy to encourage our customers and reward them for taking the financial steps required to build up reserve funds. We also urge them to take advantage of this opportunity to win cash prizes ranging from ₦100,000 to ₦2 million. The campaign will run from April 2022 to March 2023. All our current and prospective customers need to do is deposit a minimum of ₦10,000 in their account and leave the sum for 30 days. There is also a bonus- when customers open an account, they will be rewarded with ₦500 worth of airtime and enjoy 3 months of interbank transaction with no charges,” he said.

Wole also urged customers to leverage the bank’s online account opening option on the Mobile App, USSD (*909*37#) and Quick Services on the Bank’s website, as it is fast, safe, convenient, and easy to use.

The Reward4Saving promo is in line with Stanbic IBTC’s unwavering commitment to prioritising its customers’ financial well-being as well as boosting a positive saving culture in the nation.

April 11, 2022
Stanbic IBTC wins Best Sub-Custodian Bank at International Finance Awards

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC has emerged as the Best Sub-Custodian Bank in Nigeria at the 2021 edition of the International Finance Awards.

The International Finance Awards recognises industry talents, leadership skills, industry net worth and capability on an international platform. After careful consideration of nominations by a qualified research team, winners are declared on the strength of their application and past accomplishments.

Expressing his gratitude to the award organisers, Babatunde Majiyagbe, Chief Executive, Stanbic IBTC Nominees Limited, a subsidiary of Stanbic IBTC Bank PLC, said that Stanbic IBTC emerged winner at the International Finance Awards due to its innovative drive in deploying cutting-edge technology in service delivery as well as its passion for client satisfaction at all times.

Babatunde pointed out that apart from emerging as the Best Sub-Custodian Bank in Nigeria at the International Finance awards, Stanbic IBTC Bank has also won the Global Finance awards “Best Sub-Custodian Bank” for 10 consecutive years up until 2021.

In his words: “We are indeed delighted to have won this award. For us at Stanbic IBTC Nominees, this recognition will further drive our zeal and commitment to continue to seek innovative ways to deliver on our clients’ expectations at all times.”

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, stressed that the recognition is a testament to the company’s hard work and dedication of its staff to excellent service delivery and bespoke custodian offerings to its numerous customers across the country.

Adeniyi said: “We want to say a big thank you to the organisers of the International Finance Awards. Recognising Stanbic IBTC Bank PLC as the Best Sub-Custodian Bank in Nigeria speaks volumes to the fact that as a Bank, we are not resting on our oars in delivering qualitative custodian services to our clients. We attribute this award and esteemed recognition to the hard work and dedication of our staff and the support of our clients and partners.”

March 29, 2022
Stanbic IBTC Introduces Flex Border to Ease Cross-Border Transactions

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has announced the introduction of the Stanbic IBTC Flex Border, a newly added feature on its digital platforms aimed at simplifying customers’ experience with international payments and cross-border transactions.

The Flex Border feature will enable Stanbic IBTC domiciliary account holders make direct international fund transfers to other foreign denominated accounts on the Bank’s Mobile App.

The Bank stated that the initiative was part of efforts aimed at providing world-class innovative banking products and services to help individuals and businesses navigate the post-COVID-19 global economic downturn while satisfying customers’ needs and lifestyles. The new feature also allows customers to enjoy quick, seamless, and flexible foreign transactions on the go on its Mobile App.

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, while commenting on the new feature, said it would help customers conveniently carry out global transactions irrespective of their location.

Wole said: “We are pleased to introduce the Flex Border feature to make the cross-border banking experience seamless while eliminating the hassle of walking into a physical bank. Our goal remains to provide cutting-edge solutions by leveraging technology to ease the process through which our customers transfer money internationally. With the Flex Border product, customers can now send funds in all major international currencies from the Stanbic IBTC Mobile App.”

Wole noted that with the simplicity and improved functionality of the Stanbic IBTC Mobile App, the bank provides customers with an improved and secure banking platform to transact seamlessly from the comfort of their homes.

He further assured the Bank’s customers of the organisation’s commitment to providing convenient and accessible banking solutions to carry out their transactions from any part of the world.

March 23, 2022
Stanbic IBTC Tasks Nigerian Investors to Tap into AfCFTA to Boost Intra-Africa Trade

Stanbic IBTC Bank PLC, a subsidiary of Standard Bank Group, has urged Nigerian investors and business owners to harness and maximise the business opportunities that are inherent in the African Continental Free Trade Area (AfCFTA) agreement. This will help boost intra-Africa trade beyond the current level of 17 per cent as well as promote industrialisation and the economic growth of the continent.

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, made the call at the African Continental Free Trade Area webinar organised by Stanbic IBTC themed: “AfCFTA State of Play: Understanding Potential and Maximising Opportunities for the Customer”.

Wole stated that multiple studies have shown that the increase in trade has a direct impact on reducing unemployment and poverty in societies, he noted that the AfCFTA agreement presents numerous trade opportunities that are both exciting and promising not just for the continent but for the Nigerian market. The Chief Executive emphasised Stanbic IBTC’s readiness to leverage the trade opportunities of the AfCFTA agreement to unlock business opportunities for its clients in the Small and Medium-sized Enterprises (SMEs) sector as well as its corporate clients.

While delivering his keynote address on the theme of the event, the guest speaker, Bamidele Ayemibo, lead consultant at 3T Impex Trade Academy, pointed out that with the implementation of the AfCFTA agreement, Africa has the opportunity of becoming the largest market in the world with a population of 1.2 billion people and a combined GDP of $3.4 trillion. Ayemibo emphasised that the goal of AfCFTA is to create a single market for Africa and encourage the free movement of goods and services thereby facilitating trade transactions.

He pointed out that Nigerian customers can take advantage of the non-sensitive list, the sensitive list and the exclusive list in the agreement while engaging in various trade transactions with other African countries. According to him, out of about 5,000 AfCFTA codes or products in the world that fall under the non-sensitive list, 90 percent are duty-free and Nigerian customers can take advantage of this. He added that countries can liberalise their products under the sensitive list within a period of 10 years while the exclusive list enables countries not to liberalise their products in order to protect that sector of their economy.

Ayemibo stressed that the Federal Government is currently developing a portal where Nigerian customers and investors can trade with other countries under the AfCFTA agreement. He explained that AfCFTA presents a huge potential for Nigerian manufactured products on the African continent because Nigeria produces about 90 percent of such products that are imported by other African countries.

While appreciating Stanbic IBTC for the bold step it has taken to educate its clients and investors about the benefits of AfCFTA, Ayemibo added that information enables agreement such as the AfCFTA to thrive, lamenting that previous agreements like the Ecowas Trade Liberalisation Scheme (ETLS) collapsed due to lack of adequate information. He added that with its vast footprint across Africa through Standard Bank, Stanbic IBTC can reach out to its numerous customers and educate them on the benefits of the AfCTFA agreement.

The African Continental Free Trade Area is a free trade area founded in 2018, with trade commencing in January 2021. It was created by the African Continental Free Trade Agreement among 54 of the 55 African Union nations. Nigeria signed the AfCFTA in 2019, after a year’s delay, and is considered as the most recent country to ratify the agreement.

March 23, 2022
Stanbic IBTC Impacts Young Nigerians through Its Youth Leadership Series

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, held its annual Youth Leadership Series (YLS) on Tuesday, 8 March 2022, at the Yaba College of Technology, Lagos. The event, which was designed to upskill and empower young Nigerians to become future business leaders, was themed ‘Becoming’. The 2022 edition, the fifth in the series, attracted youths across Nigeria. The session was informative, exciting, and memorable.

The Chief Executive, Stanbic IBTC Holdings PLC, Dr. Demola Sogunle spoke on the rationale behind the 2022 YLS. He noted that one of the financial institution’s core mandates remained the creation of opportunities for the youths, who are the leaders of tomorrow.

“We are pleased that the 2022 edition of the YLS engaged young Nigerians, and thereby set them on the path to self-discovery. This occasion marked the fifth year of our YLS series, and we are proud to have chosen to inspire youths to be the best versions of themselves and encourage them to achieve their goals and aspirations. At Stanbic IBTC, we recognize the youths are the leaders of tomorrow, and we are conversant with their needs. We thus created this platform to sensitise youths to imbibe a solution-oriented mindset. Not only to position them to think outside the box, but also help them proffer solutions that will enhance the economy,” Dr. Sogunle said.

He said “as an organisation that leveraged new digital technologies to ensure seamless banking, we introduced our AI robot called Pepper to participants. The robot displayed at the event further reiterated our innovation and readiness to serve our customers and clients.”

The 2022 edition of the YLS had two exciting and engaging panel sessions – ‘Building Achievement Through Consistency and Perseverance’, and ‘Life Planning in an Unconventional Career’. Professional and illustrious individuals drove discussions that touched various sectors at the high-impact sessions.

The panel sessions featured experts such as Odunayo Eweniyi, Co-Founder and Chief Operations Officer, Piggy Vest; Femi Omogbenigun, CEO, 3Line Technologies; Chude Jideonwo, lawyer, media entrepreneur, and founder of Joy Incorporated.

Other panelists at the sessions were Dr. Dipo Awojide, popularly known as Ogbeni Dipo; Bunmi George, CEO, Shredder Gang; Tomie Balogun, business entrepreneur; and Ekene Nwaokoro, Investment and Portfolio Manager at Stanbic IBTC Asset Management Limited.

Wole Adeniyi, Stanbic IBTC Bank PLC’s Chief Executive, expressed excitement about the annual Youth Leadership Series. He said, “Stanbic IBTC has remained committed to encouraging entrepreneurial skills among Nigerian youths. Panelists spoke on the benefits of building achievement through consistency, resilience, and perseverance to achieve individual, corporate and national goals. We are delighted to have hosted the fifth edition of the YLS.”Stanbic IBTC, Nigeria’s leading end-to-end financial institution, has continued to demonstrate its passion for youth empowerment.

March 16, 2022
Stanbic IBTC to connect with youths at Africa NXT

As part of its commitment to youth development, Stanbic IBTC Holdings PLC, a member of Standard Bank, has concluded plans to sponsor Africa NXT, formerly known as Social Media Week.

In recent years, experts and youths in the business, creative and tech spaces across Africa and the diaspora had convened to hold discussions on various topics related to youth development at the week-long annual event. This year, the event is slated to take place from 27 February to 04 March 2022. The 2022 edition of the event is themed “The Next 10 Years: Reimagining Our Collective Commitment to Africa’s Prosperity”, with a particular focus on collaboration to achieve progress in tech and business for Africa’s prosperity.

As an institution leaning towards the use of technological innovation in the financial space and an official sponsor of the Africa NXT event, Stanbic IBTC will hold a panel discussion and masterclass session to speak to topics on digital insurance, investments, and business finance.

The financial institution will introduce its newly launched Artificial Intelligence robotics, Stanbic IBTC Pepper, a fully programmed robotic companion that engenders quality human interaction in banking experiences for clients and customers during the event.

Speaking about the event, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, said the event would serve as an opportunity to connect with the youth. He said, “Stanbic IBTC is passionate about youth development and innovation. Africa NXT is a platform that connects us all, gives us the opportunity to converse and let them know that Stanbic IBTC is always ready to help push their dreams.”

Wole said the robot, Pepper, will be on ground for people to have a first-hand experience of it and have a glimpse of how technology powers Stanbic IBTC’s operations.

“Technology is beautiful. It simplifies complex processes. Pepper is a robot, but it is well equipped to carry out basic transactions. She is a demonstration of Stanbic IBTC’s relentless search for ways to serve our clients and customers through technology.”

Stanbic IBTC remains committed to finding ways to connect with the youth for empowerment as well as providing Nigerians with financial solutions powered by innovative technology.

February 23, 2022
Stanbic IBTC Opens New Branch in the Lekki Free Trade Zone

Stanbic IBTC Bank PLC, a member of Standard Bank Group, has opened a new branch in the Lagos Free Trade Zone (LFTZ), Ibeju-Lekki axis of Lagos State. The new branch will serve the banking and pension needs of the financial institution’s current and prospective clients along the LFTZ corridor and environs.

Demola Sogunle, Chief Executive Stanbic IBTC Holdings PLC, said that the branch opening was geared towards serving industries, corporates and individuals in the LFTZ region.

He said: “As a forward-thinking financial institution, we have opened a branch to make our services available to individuals in the Ibeju-Lekki axis because we expect economic activities to increase within the area. We are fully committed and determined to continue providing world-class banking products and facilities in all the markets we operate in, and to ensure that our customers’ unique business needs are met.”

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, said: “We are delighted to open this branch in the Lagos Free Trade Zone area. This expansion epitomises our growth strategy of spreading our footprint to various regions in the country, and enhancing accessibility of our quality products and services to numerous industries and clients.”

Wole highlighted the growing need for additional banking services targeted at both current and prospective customers in the area, and the cognisance of convenience, alternative banking channels, and accessibility to financial services as key factors in achieving service excellence. He further described the branch opening as a strategic move that would catalyse vast investment opportunities inherent in the region.

Eric Fajemisin, Head, Corporate and Investment Banking, Stanbic IBTC, described the LFTZ as one of the commercial centres in Africa’s largest economy. He added that an overarching strategy of Stanbic IBTC remained to build sustainable businesses in all the regions served and to consistently create long-term value and wealth for shareholders and customers.

Eronmonsele Omiyi, Head, Client Coverage (Consumer clients) noted in his remark that: “Stanbic IBTC takes pride in the recognitions and awards for being at the forefront of providing exceptional customer service, and all customers can be assured of the same experience across all its branches, including this branch at the LFTZ”. He added that: “Excellent customer experience is complemented by the state-of-the-art digital channels that the bank provides, and our staff will be available to answer any enquiries from clients.”

February 7, 2022
Stanbic IBTC Bank named Best Sub-Custodian Bank for The Tenth Consecutive Year

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has emerged as the Best Sub-Custodian Bank in Nigeria at the 2021 edition of the Global Finance Best Sub-Custodian Bank Awards, for the tenth year in a row.

The Global Finance Best Sub-Custodian Bank Awards is organised by the Global Finance Magazine and recognises banks that provided astounding services in customer relations, quality of service, competitive pricing, smooth handling of exception items, technology platforms, post-settlement operations, business continuity plans, and knowledge of local regulations and practices. The winners of this year’s edition, the 19th in the series, were announced recently.

The awards editorial board considered market research, input from expert sources and entries from banks as criteria for selecting banking institutions across seven global regions and more than 80 countries providing reliable services in local markets and regions.

While expressing his delight at the announcement, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, said that the award has once again placed Stanbic IBTC Bank on a pedestal of excellence as a foremost financial services provider in Nigeria.

He said, “We are excited that Stanbic IBTC Bank PLC has been recognised as the best Sub-Custodial Services Provider in Nigeria for the tenth consecutive year. We attribute this award and esteemed recognition to the hard work and dedication of our team in carrying out custodial services; our ever-evolving technological innovation in service delivery; and our passion for client satisfaction. We will not relent in giving our absolute best at all times.”

Babatunde Majiyagbe, Chief Executive of Stanbic IBTC Nominees, also commented on the award, describing the recognition as an indication of the organisation’s commitment, client centricity and exceptional track record as the ideal partner for investor services in Nigeria.

“The criteria for this recognition show we are on the right path as we continually seek ways to provide the best-in-class service to our clients despite current global challenges. Client-focus and digitisation remain key drivers for business success, and we will continue to provide value because we are committed to making progress real”, Majiyagbe added.

In the words of Mr. Joseph Giarraputo, Publisher and Editorial Director of Global Finance, “The unprecedented events of the past year and a half forced sub-custodians to embrace digitisation and to adapt to the post-pandemic landscape. Global Finance’s Sub-custodian Bank Awards honour those institutions who embraced new and innovative ideas to meet the challenges they faced.”

Recall that Stanbic IBTC Bank was awarded Best Sub-Custodian in Nigeria by Global Finance awards in 2020.

June 15, 2021
Stanbic IBTC Bank Launches SMS Banking Solution With Multiple Functionalities

Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, has launched its 3S (SMS/Self Service) Banking Solution with funds transfer and bill payment capabilities. This is unique a SMS banking solution with a bundle of functionalities.

This service will enable customers initiate transactional and non-transactional banking activities by sending a short message from their registered phone number to a custom number – 30909.

Customers with feature phones and those with limited access to the internet can seamlessly initiate secure transaction requests or other general service requests to the bank.

According to Wole Adeniyi, Chief Executive, Stanbic IBTC Bank PLC, the 3S Banking Solution is one of the organisation’s offerings aimed at infusing digital banking to deliver solutions to customers’ banking needs.

He said: “Stanbic IBTC leverages on communication protocols and services available on a mobile device such as SMS to bring more convenience to its customers. The 3S Banking Solution possess funds transfer and bill payment capabilities. It is simple to use and can be adopted by all our customers.”

According to him: “Stanbic IBTC remains committed to the delivery of innovative solutions to enhance customer experience and increase financial inclusion in the country.”

March 31, 2021