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Mastercard Unveils ‘Relaunch Your Career’ Programme for Women

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As part of its efforts towards building a diverse and inclusive workforce, Mastercard, a leading technology company in the global payments industry, has introduced ‘Relaunch your Career’, a comprehensive return-to-work program targeted at women who have been away from the workplace for one year or more and are keen to return to work on a permanent basis.

The program is designed to enable highly-experienced women with work experience at mid-management level to re-enter the workplace after time away, and builds on Mastercard’s flexible working culture and its commitment to ensuring gender diversity in the workplace.

“The ‘Relaunch your Career’ program is a key diversity initiative for Mastercard – we want to help women get their on-hold career back on track by providing them with an opportunity to take up a challenging and rewarding role, while giving them the support they need to succeed,” said Scott Tierney, Sr. Vice President Human Resources, MEA, Mastercard.

“Women often find themselves having to take an extended break from work, for reasons as varied as bringing up their kids to caring for elderly family members to relocating with a partner to a new country altogether. Often, they find it tougher to return and transition back into the workplace after time away than imagined. Through this program, we are providing qualified and experienced females with the tools and support to help them find their way, so they can ease back into their professional life and re-establish their careers,” added Tierney.

The ‘Relaunch your Career’ program builds on a solid foundation to continue fostering a culture of flexibility and inclusion at Mastercard offices around the world.

As an employer of choice, Mastercard is known for offering its employees a flexible, multi-cultural work environment that helps them balance their work demands with family commitments. Employees are offered learning opportunities and are encouraged to lead or support initiatives, which can be cross-functional or cross geographies.

The ‘Relaunch your Career’ participants will be given responsibility for a commercially-focused project from the start of a 12-week placement. To immerse them into the organization and ensure they are fully familiarized with their role, they will receive support in the form of tools and learning resources, on-the-job training, and a buddy to bring them up to speed quickly. At the end of the 12 weeks, they can also apply for a permanent role with Mastercard,” added Tierney.

“Building a diverse and inclusive workforce at Mastercard is part of our DNA. We strongly believe that the more diverse we are, the better our business performs, which is why we are dedicated to cultivating an environment that respects the differences among our people while celebrating their individual strengths and abilities,” Tierney concluded.

Women seeking to enrol in the ‘Relaunch your Career’ program must have previous experience at mid-career level ideally gained in technology, financial services, e-commerce, and professional services organizations. They must also be good team players and relationship-builders, with excellent communication and interpersonal skills and great adaptability.

 


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E-Financial

Lagos State Appoints MoneyMaster as Payment Partner for “Ounje Eko” Programme

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“Ounje Eko”, the food price discount initiative of the Lagos State Government, has appointed leading payment service bank, MoneyMaster Payment Service Bank Limited (MMPSB), as its collaborator in the bid to ensure ease of payments at the market.

MoneyMaster is one of the Central Bank of Nigeria-licensed Payment Service Banks (PSBs) to promote financial inclusion across Nigeria.

Under the partnership, MMPSB will apply its cutting-edge payment solution to engender easy payment and reconciliation in order to make   the experiences of Lagosians who will be getting their food supplies from the markets pleasurable. Its payment solution is also all-encompassing and ensures real time value to payment destinations.

The mobile bank was appointed as the collection and payment partner for “Ounje Eko” Food Markets programme which is a government initiative serving the five divisions of Lagos State. Consequent on this, MoneyMaster Payment Service Bank will collect payments in 57 LCDAs in the state.

The partnership gives credence to the quality of payment solutions that MoneyMaster is reputed for in its services to its growing business clientele in private and public sectors.

 


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CBN, EFCC Probe Banks, Firms over Alleged Forex Racketeering

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Central Bank of Nigeria (CBN), is investigating irregular foreign exchange transactions and forward contracts valued at approximately $2.4 billion.

CBN, EFCC Probe Banks, Firms over Alleged Forex Racketeering

The  inquiry follows an extensive audit by Deloitte, which scrutinized $7 billion in dollar debts accumulated under the bank’s previous leadership.

In the aftermath of the 294th Monetary Policy Committee meeting in Abuja, Yemi Cardoso, governor of CBN,  disclosed to journalists that the investigation, supported by the Economic and Financial Crimes Commission, among other security bodies, aims to clarify the legitimacy of these FX allocations identified as problematic by the audit.

“It was determined that a number of these transactions did not qualify…they were outright illegal. The law enforcement agencies are now looking into those transactions that as far as we are concerned, are not valid to be paid,” Cardoso detailed, emphasizing the unlawful nature of these forex deals.

The crux of the investigation lies in the audit findings that a significant portion of the scrutinized transactions lacked proper documentation and, in many instances, were deemed outright illegal.

However, the unfolding investigation has raised concerns within the organized private sector, with some entities contemplating legal action against commercial banks for unresolved forex bids.

Despite these tensions, Governor Cardoso reassures that the foreign exchange market remains open and transparent, inviting stakeholders to address their forex needs through the official channels.

Furthermore, Cardoso clarified the distribution of fertilizers to farmers as a one-off measure and not indicative of a shift back to direct interventions by the CBN, underscoring a commitment to strategic, regulatory governance rather than direct market involvement.

 

 

 

 

 

 

 

 


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CBN Urges Banks to Expedite Action on Recapitalisation

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Central Bank of Nigeria (CBN) has directed deposit money banks in the country to expedite action to increase their capital base from the current ₦25bn.

CBN Urges Banks to Expedite Action on Recapitalisation

Olayemi Cardoso, governor of CBN

Olayemi Cardoso, governor of CBN, stated this during the apex bank’s 294th meeting of the Monetary Policy Committee (MPC) on Tuesday in Abuja, when the MPC hiked the interest rate by 22.75% to 24.75%.

The apex bank chief said the MPC examined developments in the banking sector and expressed satisfaction that the industry remained stable. The committee, however, said to guard against risk, commercial banks in the country should accelerate their recapitalisation efforts.

Cardoso said, “The MPC also reviewed developments in the banking system and noted that the industry remains safe, sound, and stable. The committee thus called on the bank to sustain its surveillance and ensure compliance of banks with existing regulatory and macro-potential guidelines.

“The MPC also enjoined the banks to expedite actions on the recapitalisation of banks to strengthen the system against potential risks in an increasingly globalised world.”

 

 

 

 


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