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First Round Speakers Roll Call for MobileMoneyExpo

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The first round of speakers made up of some of the best brains in mobile money ecosystem has been announced by the organizers of the 3rd MobileMoneyExpo.

They include; Peter Ollikanen –  SVP at Mistral Mobile, Finland; Mike Ogbalu – head, Mobile financial service – FirstBank Nigeria; Eugene Adogla – director, MicroEnsure – Ghana; Asim Mehr – director, Telenor, Pakistan; Ali Musa Baba – CEO, Teasy Mobile, Nigeria; Justin Floyd – RedcloudMoney and ICENI Mobile – UK; Victor  Asemota, CEO & principal  consultant, Swifta Systems, Ghana; Santanu Sengupta – director, African Center for Mobile Financial Inclusion, UK and Osondu Nwokoro – director Regulatory Affairs, Zain Nigeria.

Others are; Fombad Musaga – BankBox, Maviance Ltd, Cameroun; Emmanuel Agha – founder, Innovectives  LLC, Nigeria; Daniel Osei- Antwi – CEO, SplashMobileMoney, Sierra Leone; Saurabh Singhal – manager, Emerging markets, MFINO,  India; Derrick Kwaku Dankyi – executive director, Glife Financial services, Ghana; Vytas Paukstys – CEO, Eskimi, Lithuania; Selorm Adadevoh – head of Mobile financial services, Tigo, Ghana; and Peter Asolo  – CEO, Petvini Global Concept , Nigeria.

The 3rd MobileMoneyExpo delivers two full days of top executives networking, cutting edge content from dynamic presentations and engaging discussions designed to address developments, challenges, and opportunities and success stories within the mobile financial ecosystem in Africa in 2012.

Emmanuel   Okoegwale, principal associate,  MobileMoney Africa said that during the 2013 edition of the MobileMoneyExpo, mobile money operators will share experiences in all domain areas of mobile financial services covering regulation, technology, application, marketing, customer relationships, agency network and other innovative practices that will improve adoption of mobile financial services for shopping, remittances, micro finance, social payments and others.

According to him, MobileMoney Expo 2013 brings together top executives from mobile network operators, Banks, regulators, systems and application providers and more.

“It will showcase more case studies on mobile payments, cards, micro finance and technologies driving mobile financial services adoption than any other conference serving the African mobile money industry.
 
Hear first hand from leading executives in Africa and discover how mobile money trends and emerging technologies are impacting the African market”   Okoegwale added.

Delegates of the past MobileMoneyExpo events comprised an impressive group of senior Executive and decision makers from diverse sectors across Africa, Europe and beyond.

Financial institutions, card services, device manufacturers, international remittance organization, application providers, regulators and international remittances organizations attended the 2012 event.


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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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E-Financial

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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