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Access Bank Partners LSETF To Kick Start Grassroots Engagement On W Initiative Loan Scheme

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Access Bank, through the W Initiative is committed to inspiring, connecting, and empowering women. In 2019, the LSETF W Initiative Loan – a matching fund-financing option for female MSMEs in Lagos State was launched in partnership with the Lagos State Employment Trust Fund.

As a way of increasing awareness and bridging the information gap, The Access Bank’s W Initiative and the LSETF teams have commenced a series of grassroot engagement sessions across Lagos State to sensitize businesswomen resident in Lagos on the availability of the facility, the processes as well as requirements involved.

The first and second sessions held at Balogun Market and Alimosho L.G.A respectively.

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While opening the session, The Group Head of the W Initiative, Abiodun Olubitan, said that “The W initiative is a one-stop-shop for women. Over the years, we have ensured we serve three different cadres of women – women professionals, women in business, and women at home. Specifically, we are talking about women entrepreneurs today and we aim to not only provide funding to these women but also capacity building to enable them develop skills and help grow their business.

She further noted that “Many women lack access to funding which hinders them from scaling their businesses. This challenge has deepened with the impact of the pandemic on businesses and the economy. Our response to this plight is to make available the LSETF W Initiative Loan which is rightly positioned to enable female entrepreneurs to move their businesses to the next level with ease at a highly competitive rate of 10 percent per annum. It requires no collateral, and can be repaid between 12 – 24 months”.

It is believed that this partnership will further reiterate Access Bank’s commitment to empowering female entrepreneurs across Nigeria and Africa at large by providing affordable financing to female MSMEs in the State to increase their productivity and enable them to expand in such a way that it leads to job creation.

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Business

Access Bank Launches 12 Days Of Christmas Campaign To Delight Customers

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Access Bank Plc has brought the Christmas Season of Giving closer to its customers nationwide with its AccessMore -12 days of Christmas campaign where 100 lucky customers stand a chance to win N10,000 voucher every day.

This was disclosed yesterday, at a press conference held at the financial institution’s Head office in Lagos to flag off the campaign tagged “AccessMore 12 Days of Christmas” leveraging the XtraWins promotion. The campaign will run from December 1 to December 12, 2023.

Group Head, Consumer Banking, Access Bank Plc, Njideka Esomeju confirmed to newsmen that the campaign was launched to celebrate the holiday season. “We are happy to give back to our valued customers through the AccessMore “12 Days of Christmas’ Campaign”. We are going to reward 100 customers with N10,000 shopping voucher every day from December 1 – December 12, 2023.

It is our way of expressing gratitude for their continued trust and loyalty to the bank. To be part of the winning train, all our customers need to do is to perform a minimum of five transactions above N1,000 on our AccessMore App and stand a chance to win shopping vouchers and exciting prizes to make their holiday season even more memorable.

We have partnered with renowned retail stores like Spar, Ebeano, Market Square, Justrite, Jendol , Oriki and more for our customers to redeem their shopping vouchers when they win.
At Access Bank, we believe in giving back to those who have made our success possible. This campaign is part of our commitment to creating meaningful and memorable experiences for our customers. We invite everyone to participate and stand a chance to be one of our lucky daily winners,” Esomeju concluded.

The AccessMore App, is the bank’s cutting-edge mobile banking platform that offers customers a range of features designed to simplify banking processes and enhance the overall user experience. Through this promotion, Access Bank aims to encourage more customers to explore the convenience and efficiency that digital banking has to offer.

Access Bank is a leading Nigerian financial institution committed to providing innovative and customer-centric financial solutions. With a focus on digital transformation and community engagement, Access Bank continues to redefine the banking experience for its customers.

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CBN To Freeze Bank Accounts Without BVN, NIN Starting April 2024

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The Central Bank of Nigeria (CBN) says it will freeze accounts without a Bank Verification Number (BVN) or National Identification Number (NIN) from April 2024.

This is according to a Friday circular by the apex bank which instructed banks to place a “Post no Debit” restriction – which prevents customers from making withdrawals, transfers, or any other debits “for all existing Tier-1 accounts/wallets without BVN or NIN”.

“Effective immediately, any unfunded account/wallet shall be placed on ‘Post No Debit or Credit’ until the new process is satisfied. Effective March 1, 2024, all funded accounts or wallets shall be placed on ‘Post No Debit or Credit’ and no further transactions permitted,” the circular by the CBN Director of Payments System Management Department Chibuzo Efobi, and the Director of Financial Policy and Regulation Department Haruna Mustapha read in part.

It also said all BVN or NIN attached to accounts/wallets must be electronically revalidated by January 31, 2024,

According to the bank, a BVN or NIN verification will be “conducted shortly”, adding that the move is part of its efforts to promote financial system stability and strengthening of the Know Your Customer (KYC) procedures in financial institutions.

The bank will also carry out a “comprehensive BVN and NIN audit shortly” and where breaches are identified, appropriate sanctions shall be applied.

“The process for account opening shall commence by electronically retrieving BVN or NIN-related information from the NIBSS’ BVN or NIMC’s NIN databases and for same to become the primary information for onboarding of new customers, and all existing customer accounts/wallets for individuals with validated BVN shall be profiled in the NIBSS’ ICAD immediately and within 24hrs of opening accounts/wallets,” the CBN added.

In cases where a potential customer does not have a BVN or NIN, the CBN advised the regulated financial institution to “commence the process of enrolling the individual onto the BVN database and be guided by the extant protocols issued by NIBSS”.

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UBA Foundation Signals Beginning Of Yuletide Season, Lights Up Marina

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United Bank for Africa (UBA) Plc has kicked off the beginning of the yuletide season in a grand ceremony marked with fireworks and melodious Christmas carols.



The ceremony attended by staff, customers and members of the general public was held at the well decorated UBA Foundation Garden in Marina, Lagos.



Through its corporate social responsibility arm UBA Foundation, the bank marked the start of a fun-filled festive season that will bring lots of cheer and touch the lives of its customers and the individuals around the communities where it operates.



The bank celebrated the UBA Foundation Garden Light Up Ceremony and Carol evening on Tuesday, where staff and customers alike joined in to spread hope and sing carols to usher in the Christmas and end of the year season.



At the ceremony, UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, was joined by other management staff to officially light up the Head office and the UBA Foundation Garden, which according to him, signifies how the bank has been bringing light to the lives of the people and communities around it.



He said, “We are here to officially light up the season and as you know, UBA has been the light in the financial sector on the continent and beyond. Going by our performance and we will continue to ensure that we spread light and joy wherever we go. This is very symbolic for us all, and we want to take time to appreciate the staff and customers who have made us achieve great things this year. At UBA, we are all about spreading love and giving hope.”



The Light-Up ceremony featured Christmas carols renditions by UBA’s Customer Fulfilment Centre Choir, a fun-filled guided tour around the beautiful UBA Foundation Garden and lots to eat and drink for every-one present.

UBA’s Group Head Marketing and Corporate Communications, while talking on the essence of the annual event, said, “UBA is a bank that values its environment and as an organisation that is corporately responsible, we have taken it upon ourselves to beautify our environment and add colour, especially as the year comes to an end.”

Continuing, she said, “We want to let them know that all lives matter. I hope that as always, we will be able to make many smile and give a glimmer of hope during a special season like this.”

UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, Environment, Economic Empowerment and Special Projects.

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