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Access Bank Promotes 800 Employees As It Transitions To Holdco Structure

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Access Bank Promotes 800 Employees as it Transitions to Holdco Structure

Access Bank Promotes 800 Employees as it Transitions to Holdco Structure

Olushola Okunlade Writes


Access Bank PLC has announced the promotion of 800 employees following a transparent and robust performance management review in line with global best practices. 

This announcement comes as the financial giant shores up its transition to a Holding Company (Holdco) starting May 1st, 2022. The Bank’s consistent growth over the years has been due to the immeasurable effort and sacrifice of its employees. 

The beneficiaries of this wholescale performance review exercise spanned the Bank’s senior, middle, and junior management levels even as the management strives to continuously put employees in the best position to grow and be successful in today’s highly competitive work environment.

Over the years, Access Bank has demonstrated that employee performance and rewards remain a critical pillar of the Bank’s business operations. The Bank has consistently provided adequate resources to deepen core job skills while entrenching a culture of high performance amongst employees. 

The Bank’s penchant for rewarding high performance is particularly highlighted by the annual CEO Awards, one of the programs under its ‘We Clap Initiative’ which is designed to support the development of a culture of excellence as well as motivate employees and teams for superior performance.

Recently, Access Bank was named the best institution to work in Nigeria by the global professional network company, LinkedIn, having assessed data across seven pillars that serve as identifiers of career progression, namely: the ability to advance, skills growth, company stability, external opportunity, company affinity, gender diversity and spread of educational backgrounds.

Money Market

Stanbic IBTC Bank Nigeria PMI® Private Sector Activity Growth Quickens In April

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Stanbic IBTC Opens New Branch In Lekki Free Trade Zone

Stanbic IBTC Bank Nigeria PMI® Private sector activity growth quickens in April

Olushola Okunlade Writes

Marked and accelerated expansions in output and new orders helped drive a pick-up in growth in the Nigerian private sector during April.

However, private sector performance was once again impacted by elevated rates of inflation, uncertainty and unfavourable exchange rate movements.

Nevertheless, strong demand encouraged firms to add to their inventories and raise their headcounts at an accelerated pace. The headline figure derived from the survey is the Purchasing Managers’ Index™ (PMI®). Readings above 50.0 signal an improvement in business conditions on the previous month, while readings below 50.0 show a deterioration.

According to Stanbic IBTC Bank, at 55.8 in April, up from 54.1 in March, the headline PMI signalled a sharp improvement in business conditions in Nigeria’s private sector. Growth has now been seen in each of the last 22 months with the latest uptick quicker than the long-run series average. Central to the improvement was an accelerated uptick in new orders.

The overall rate of expansion was marked as the third-quickest in the current 22-month sequence of growth. Panellists indicated that stronger demand and greater client requirements had been behind the latest increase in new business, with growth signalled across each of the four broad sectors covered by the survey. Strong inflows of new work resulted in a further uplift in output.

The rate of growth was robust and quickened from that in March. Sub-sector data revealed expansions across the board, though agriculture recorded the quickest expansion. Wholesale & retail, manufacturing and services followed, respectively. With workloads increasing, and demand expanding over the last 22 months, firms sought to boost headcounts in a bid to ramp up activity.

Subsequently, backlogs fell at the quickest pace for four months. To cater for higher output volumes, firms increased their buying activity in April. Stocks of purchases also rose, and at a quicker pace than in March. Turning to prices, Russia’s invasion of Ukraine exacerbated costs for a wide range of raw materials as well as fuel. Firms also indicated higher transportation fees.

The overall rate of input price inflation was substantial and the fourth-quickest in the survey’s eight-year history. Firms chose to pass on a large part of the burden to clients, with selling price inflation among the quickest in the series’ history.

Finally, firms were optimistic about growth in the year ahead, but sentiment dipped to a four-month low. Uncertainty surrounding the global environment and a lack of plans to expand operations led to the moderation in confidence.

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Money Market

Access Bank Unveils Twice Bitten Campaign

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Access Bank Promotes 800 Employees as it Transitions to Holdco Structure

Olushola Okunlade Writes

Access Bank Plc, one of the topmost banks in Nigeria has unveiled a new creative slogan to drive its marketing, Twice Bitten Campaign

Twice Bitten? But not today, Block Your Account quickly. These statements decode a lot for Access Bank customers to understand what the bank is really communicating to them.

Online banking has really made financial transactions very convenient in Nigeria and across the globe. But the setback is the fraudsters operating online.

This has given lots of banks a headache. Access Bank really cares about its customers. This crusade brought about this campaign, Twice Bitten, But not today, Block your account quickly.

It is to also alert Access Bank customers on what to do whenever they are in this situation, perhaps, your account has been hacked. Maybe you lost your ATM. Maybe the customer’s ATM was stolen etc.

Twice Bitten? But not today, Block Your Account quickly campaigns guides you on what to do abruptly.

However, this crusade was unveiled three days ago. And it has quickly gained ground in the South West of Nigeria. It is also spreading to the North West of Nigeria, findings. revealed.

Access Bank is working tirelessly to curb hacking of its customers’ accounts online as far as the Twice Bitten campaign is concerned.

However, Access Bank in its bid to enhance financial inclusion has noted its intentions to significantly increase its customer base and deepen the wallet share of the banking population riding on its agency banking platform.

Access Bank agency banking ‘Access Closa’ recently hit a milestone of having 100,000 agents currently spread across Nigeria as the bank further plans to increase its footprint by having a minimum of 50 agents in each of the 774 LGAs across the country.

The Group Head, Agency Banking, Access Bank Plc, Chizoba Iheme, in a chat with journalists noted that due to the limited number of financial institutions, especially in rural areas, Access Closa is Access Bank’s strongest retail channel used in providing banking services to a large population of unserved and underserved Nigerians.

She said: “Our plan is to bank one in two Nigerians as this will see us increase our customer base and deepen our wallet share of the banking population.”

“Going by the high youth and adult population, the resources of Nigeria’s financial institutions are being overstretched in providing physical and human resources and were unable to cope with gaps that existed in meeting banking needs of Nigerians hence the need for Agency Banking as envisaged by the Central Bank of Nigeria (CBN) in 2013.”

“Therefore, Agency Banking helps financial institutions decongest crowded branches by providing a matching and more often convenient channel for their customers. In instances where reaching customers in rural areas is often highly expensive for financial institutions because transaction numbers and volumes do not cover the cost of a branch, agency banking helps in serving them.”

Furthermore, she added that becoming an agent has become a means to empower and reduce unemployment in Nigeria.

“Our commission structure allows an agent to earn up to N500,000 and more monthly in commission including incentives and opportunities for agents to grow their business and partner with a reputable brand is an attraction to the Closa brand.”

Furthermore, on risks associated with agency banking in the country and how Access Banks moves to mitigate it, she added: “There are four major risks that we have identified. These are Technological, Legal, and Fraud/Reputational. Assets.

“Technological Risk, to prevent software and hardware failures, the bank is investing in new infrastructure with the capacity to absorb service disruptions that will have minimal impact. As part of our onboarding process, the bank’s agents are required to execute a service agreement that stipulates the roles and responsibilities of each party.

Also, agents are trained at the point of activation on Anti-Money Laundering (AML) and Terrorism Financing. This training also takes place every year to reiterate the dangers and consequences associated with fraudulent actions. Besides, the bank has set a maximum daily limit on the amount and frequency of transactions that can be performed by an agent. Lastly, a quarterly risk profiling exercise is carried out on all agents for effective management,” Iheme added.

Access Bank is the leading retail bank in Nigeria with over 600 branches and more than 40 million customers. The bank offers products and services tailored to suit the lifestyle of every Nigerian irrespective of age and demographic.

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Money Market

Winners Emerge In Stanbic IBTC Reward4Saving Promo Season 2

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Stanbic IBTC Opens New Branch In Lekki Free Trade Zone

Winners Emerge In The Stanbic IBTC Reward4Saving Promo Season 2

Olushola Okunlade Writes

Stanbic IBTC Bank Plc, a subsidiary of Stanbic IBTC Holdings Plc has rewarded several of its new and existing customers with cash prizes of ₦100,000 in the maiden draw of season 2 of its savings promo, Reward4Saving.

The first draw of this season, which took place at the Stanbic IBTC Head office on Walter Carrington Crescent, Victoria Island, Lagos State, saw 70 customers win cash prizes of ₦100,000 each. The Bank aims to maintain this throughout the 12-month promo time by which a total of 840 customers would have been rewarded with ₦100,000 during the monthly draws.

The Bank also aims to reward 28 customers with ₦1 million each in the quarterly draws, and seven customers with ₦2 million each in the grand finale draw.

Speaking at May 2022 draws, the Chief Finance Officer of Stanbic IBTC Holdings, Kunle Adedeji, said the bank recognizes saving as an important aspect of its customers’ journey to financial freedom, and it is for this reason that Stanbic IBTC has decided to continue with the second season of the Reward4Saving Promo to reward and inspire more customers to reach for their dream of financial freedom by improving their savings culture.

“Our aim is to promote a savings culture by rewarding our existing and potential customers as they save for the future. As an end-to-end financial solutions provider, Stanbic IBTC is committed to creating channels and means of financial empowerment for its millions of customers while rewarding them for their dedication. Simply put, we put our money where our mouth is.

Reward4Saving 2.0, as we like to call it, is themed “Bigger and Better”. This is because we have increased the expected wins to allow more customers from across the geo-political zones of the country to walk away with cash prizes worth a total of N156 million, with individual wins ranging from N100,000 to a whooping N2 million.,” he added.

The Chief Finance Officer further stated that existing and prospective customers can take advantage of this opportunity by saving a minimum of ₦10,000 in their savings account or @ease wallet, for at least 30 days. One electronic raffle ticket is issued for every N10,000 saved, thereby increasing the chances of winning. New customers would also be rewarded with ₦500 worth of airtime and three months of free interbank transactions when they open a Stanbic IBTC Bank account. Stanbic IBTC Bank is a subsidiary of Stanbic IBTC Holdings and a part of the almost 160-year-old Standard Bank Group.

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