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CSCS Announces Haruna Jalo-Waziri as Chief Executive Officer



The Board of Directors of the Central Securities Clearing System (CSCS) Plc has announced the appointment of Mr. Haruna Jalo-Waziri as the Managing Director/Chief Executive Officer of the company effective 1 November 2017.

Mr. Jalo-Waziri replaces Mr. Bola Adeeko who was appointed Interim Chief Executive Officer effective 1 January 2017 whilst the Board embarked on an executive search for a substantive CEO following the early retirement of the company erstwhile CEO, Mr. Kyari Bukar.

As Managing Director/Chief Executive Officer of CSCS, Mr. Jalo-Waziri is expected to drive the next phase of CSCS strategic goals in respect of diversification of the company’s revenue base, promoting strategic alliances with peer Central Securities Depositories and other financial market entities within and across the African region, as the company continues to advance towards becoming the globally respected and leading Central Securities Depository in Africa.

Commenting on his appointment, Mr. Oscar N. Onyema (OON), the Chairman of the Board, CSCS Plc said “Jalo-Waziri has vast industry knowledge coupled with a clear understanding of the company’s values and strategic vision. He has been involved in several innovations in the capital markets. These attributes make him a right choice to effectively lead our company”.

Mr. Onyema also commended the out-going Interim Chief Executive Officer, Mr. Bola Adeeko for his accomplishments during his short stint. According to him, “Adeeko has done tremendously well in executing the approved plans and objectives of the company which has led to significant improvements in operations and profitability of the company”.

Mr. Jalo-Waziri was until his appointment the Executive Director, Capital Markets, The Nigerian Stock Exchange. An economist with a record of professional and leadership excellence, he brings to CSCS a wealth of experience spanning over 20 years in Capital Market. His experience covers Regulation, Investment Management, Deal Origination and Trading. He has been involved in various successful ground-breaking deals such as Heineken Euro Bond, and British American Tobacco M&A, amongst others.

A consummate professional, Mr. Jalo-Waziri was the CEO of UBA Asset Management Limited and UBA Stockbrokers Limited. He also founded Kakawa Asset Management Limited. Prior to this, he had worked at the Securities and Exchange Commission (SEC) and Afrinvest West Africa (formerly SECTRUST).

Mr. Jalo-Waziri is a graduate of the University of Maiduguri where he studied Economics and has an MBA from Tafawa Balewa University Bauchi. He is an alumnus of Lagos Business School and the Venture Capital Institute of America.

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Keystone Bank, NIPOST Partner to Launch Agency Banking



Keystone Bank Limited has launched “KeyServ”(An Agency Banking proposition) to serve customers outside its conventional brick & mortar mode of banking.


The initiative, which is in partnership with Nigerian Postal Service (NIPOST) and i-OneC (A FinTech Firm), is in line with the Central Bank of Nigeria (CBN) Financial System Strategy (FSS2020) goals to increase financial inclusion uptake in Nigeria.


Mr. Obeahon Ohiwerei, group managing director/ chief executive officer, Keystone Bank Limited, said: “Enabling Financial Inclusion is our core area of focus and we have partnered with other industry players to deploy Digital Financial Solutions/ Platforms for improved access to finance; leveraging data to improve the product offerings, personalised & predictive customer service, and uncovering new customer segments”.


“The recent reports on adult Nigerians (according to EFInA) that are financially excluded is 40.1million (41.6% of 96.4million adults). To this end, we are partnering with NIPOST and i-OneC to offer financial inclusion services to un(der)banked Nigerians especially in the rural and less urban areas.

“Under this partnership, KeyServ (Keystone Agency Banking Services) offers services such as Account Opening, Bills Payment, Cash-In, Cash-Out, ATM Services, Fund Transfers, Balance Enquiries, ATM cash withdrawals, Mini Statements and a whole lot more.


“One landmark feature of KeyServ (Keystone Agency Banking Services) is that it offers affordable access to financial services than the traditional banking methods.”


Also, speaking at the launch, Yemi Odusanya, ED Corporate Banking & South, Keystone Bank, added : “With this scheme, customers, especially in the rural areas will enjoy unfettered access to banking services. As at today, we have about 106 approved agents across the country and already, the services are available at Sabongida-Ora (Evbiobe)-Edo State, Sabon Gari (Kano), Mirinjibi (Kaduna), Barnawa (Kaduna), Yaba (Lagos) and Ikoyi (Lagos)”

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Standard Chartered Launch African online Bank



Standard Chartered launched its first African online-only bank in Cote d’Ivoire yesterday, joining a wave of lenders seeking to use new technologies to reach customers in some of the world’s most under-served markets.

Long considered a backwater, Africa has emerged as the world’s No. 2 banking market in terms of both growth and profitability.

Yet there are just five branches per 100,000 adults, by far the lowest rate in the world.

To compete for customers, banks are increasingly taking advantage of Africa’s deepening mobile phone coverage.

Clients of Standard Chartered’s Ivorian bank will be able to open an account in less than 15 minutes and then use an app on their mobile devices to carry out all their banking activities.

“We have been steadily investing in expanding our footprint in Africa over the years, and this will continue to be a priority moving forward,” said Sunil Kaushal, Standard Chartered’s Regional CEO, Africa and Middle East.

“Digitising Africa remains at the heart of our business strategy for the region,” he said, adding that the British bank planned to roll out the model pioneered in Cote d’Ivoire in other African markets in the coming months.

Standard Chartered joins competitors including Lloyds , Kenyan lender CBA’s M-Shwari and Togo-based Ecobank that are focusing their growth strategies around digital banking.

The number of Africans with bank accounts grew from 170 million in 2012 to nearly 300 million last year, according to a study published by management consulting firm McKinsey and Company last month.

That figure is expected to rise to 450 million in the next five years.

McKinsey’s survey found that nearly 40 per cent of all African banking customers preferred digital channels for transactions and more than half of the middle and affluent client segments did.

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AfDB to Partner Nigeria in Power Sector Recovery Program



The African Development Bank (AfDB) says it will support Nigeria’s Power Sector Recovery Programme (PSRP) in three areas.

It listed the areas as operational and technical intervention, governance issues and policy based support.

The bank disclosed this in Abuja on Friday in a statement signed by Mrs Fatimah Alkali, Senior Communications Officer in Nigeria Country Office.

AfDB said it had undertaken a mission to hold further discussions on Nigeria’s PSRP with several stakeholders.

The bank said that the mission was led by Mr Amadou Hott, the Bank’s Vice President for Power, Energy, Climate Change and Green Growth.

It said meetings had been held with relevant ministries, departments and agencies to harmonise plans and areas of intervention.

The ministries and agencies include the Ministries of Finance, Power, the Nigerian Electricity Regulatory Commission, the Transmission Company of Nigeria, World Bank and solar power developers.

The Bank said the programme was designed to promote energy access to rural communities through the expansion of the transmission grid, development of innovative financing products and provision of technical assistance to improve revenue generation by the distribution companies.

It said the goal of the mission was to identify opportunities for collaboration in the programme.

“The bank’s energy strategy identifies energy as crucial not only for the attainment of health and education outcomes, but for industrialisation, reducing the cost of doing business and for unlocking economic potential and creating jobs.

“In line with its high 5 development priorities, the Bank is committed to supporting Nigeria in the effective and efficient implementation of the country’s Power Sector Recovery Program,” the bank said.

The statement quoted the Bank’s President, Dr Akinwumi Adesina, as saying that “Africa is simply tired of being in the dark.

“It is time to take decisive action and turn around this narrative: to light up and power Africa and accelerate the pace of economic transformation, unlock the potential of businesses and drive much needed industrialisation to create jobs” he said.

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