E-Financial
Ecobank Emerges As Bank with Best Digital TouchPoints in Nigeria
Ecobank Nigeria has emerged as the bank with “Best Digital Touchpoints” in Nigeria at the virtual Digital Jurists (formerly Web Jurist) 2020 awards.
The event held during a breakfast session of the Nigeria – South Africa Chamber of Commerce Webinar last week in Lagos.
Ecobank also beat other nominees from among 22 commercial banks to win the “Best Web Portal” in the Commercial Banks category. The pan African bank website was also nominated for the “Best Website award.” The annual prestigious awards which started in 2001 is being organized by Phillips Consulting.
The Digital Touchpoints award which is a combination of Web Portal, Social Media and Mobile App are assessed against six criteria including User Interface, Performance, Security, Customer Experience, Customer Engagement and Content.
According to the organizers, the “Digital Jurist” is an assessment tool created by digital experts at Phillips Consulting to evaluate the effectiveness and performance of digital platforms. The criteria were developed by deep research into best practice and evolving user experiences on digital platforms in line with developments in digital technology and practices.
The tool establishes a barometer for assessing digital activities, aligning global best practices and digital standards. The assessment covers websites, web portals, mobile Apps and social media across commercial banks, investment banks, merchant banks, insurance companies, telecommunication, airlines, state governments and federal government parastatals.
Commenting, Dr. David Isiavwe, Group Head, Operations & Technology, Ecobank Nigeria, said the double awards are welcome, stressing that Ecobank is using its wide and versatile digital infrastructure to transform payments and collections in the country. While commending the organizers of the awards, he submitted that digital banking is the new normal and must be embraced by all.
“As a bank, we are highly impressed with this award for the fact that it is coming from a trusted organization like Philips Consulting, which I have personally followed over the years.
Digital Jurist has positioned itself for the future by transiting from Web Jurist to Digital Jurist. They are indeed, doing an excellent work.
“The reality is that digital banking is the new normal and the way of the future and Ecobank has long embraced that. We appreciate the fact that organizations across the world are looking at the way we do business. We will continue to focus on the key aspects of digital engagement with our clients and customers to give them the best experience.”
Further, Dr. Isiavwe disclosed that Ecobank has an array of digital products and services tailored to satisfy the diverse needs of our customers especially in the areas of convenience, affordability, accessibility and ease of use.
He further stated that the evolution of digital banking is expressed in various forms including the use of Automated Teller Machines (ATM), Point of Sales Services (PoS), Mobile banking services, Unstructured Supplementary Service Data (USSD) amongst several others.
He listed some of the digital products and services of the bank as Ecobank Mobile App, Ecobank Online, Ecobank Pay, Cards, *326#, Omni Lite and Omni Plus as well as Rapid Transfer among others.
Fidelity Bank Plc, one of Nigeria’s leading Tier-1 financial institutions, has announced a remarkable financial performance for the first quarter of 2025, recording a Profit Before Tax (PBT) of N105.8 billion, representing an impressive growth of 167.8% compared to N39.5 billion in Q1 2024.
Mrs. Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc
The bank’s unaudited financial statements, released on the Nigerian Exchange (NGX) on April 30, 2025, highlight a substantial increase in Gross Earnings, which rose to N315.4 billion, marking a year-on-year growth of 64.2% from N192.1 billion in the same period last year.
Growth in interest income was primarily led by 38.6% yoy (7.4% ytd) expansion in earning assets base, while the increase in non -interest revenue came from FX-related income, trade and commission on banking services, etc., supported by increased customer transactions.
Commenting on the bank’s performance, Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc, stated, “We started the year with triple-digit growth in profit and sustained the momentum in our earning assets growth.
This performance shows the resilience of our business model and reinforces our confidence in delivering a better result in the 2025 financial year.”
Other areas of the unaudited financial statements, equally show a marked improvement with Total Deposits growing by 11.1% ytd to N6.6tn from N5.9tn in December 2024, driven by 10.6% ytd growth in low-cost deposits to N6.1tn, which represents 92.2% of total customer deposits. Local currency deposits increased by 2.0% ytd while foreign currency deposits increased by 21.4% from $1.9bn in December 2024 to $2.3bn.
Net Loans and Advances increased by 5.0% ytd to N4.6tn. The growth in the bank’s Loan Book was skewed to LCY Loans as cost of risk declined to 0.6% from 1.5% in 2024FY.
“Beginning the year with such positive momentum reinforces our commitment to supporting the growth of individuals and businesses, while enhancing our financial sustainability. As we go into the rest of the year, we remain focused on building a resilient banking franchise with a diversified earnings base,” Onyeali-Ikpe added.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Securities and Exchange Commission (SEC) has unveiled a technology adoption assessment survey for registered capital market operators as part of efforts to deepen innovation and efficiency in the Nigerian capital market.
In a circular, the SEC stated that the exercise was designed to evaluate the level of adoption of advanced technologies among CMOs operating within the Nigerian capital market.
According to the notice, “The following technology adoption survey is designed by the Commission to assess the adoption of advanced technologies among registered Capital Market Operators.”
The SEC directed all registered operators to log into the e-portal at using their current access credentials to complete the survey. The exercise will run for two weeks, from 5 to 20 May 2025.
Speaking recently on the role of innovation in the capital market, Emomotimi Agama, director-general of the SEC, urged stakeholders to embrace technology as a catalyst for growth, improved transparency, operational efficiency, and market resilience.
He noted that the SEC recognises the emergence of new financial products and services driven by technological advancements, and remains committed to adapting its regulatory framework to meet the evolving needs of the market.
According to him, the commission’s approach to innovation is anchored on three pillars: investor safety, market deepening, and problem-solving aimed at building a robust and efficient capital market ecosystem.
Agama also highlighted the commission’s Regulatory Incubation Programme, which allows fintech startups to operate within a controlled environment for one year while appropriate rules are developed to govern their activities.
He said the programme is part of the SEC’s broader strategy to support innovation while safeguarding market integrity and investor interests.
International Monetary Fund (IMF) ,has confirmed that Nigeria has fully repaid about US$3.4 billion loan it got in April 2020 under the Rapid Financing Instrument to help alleviate the impact of the COVID-19 pandemic and the sharp fall in oil prices.
IMF said the loan has been repaid as of April 30, 2025 in a statement issued in Abuja, Nigeria’s capital on Thursday.
However, IMF said Nigeria is still expected to honour some additional payments in forms of Special Drawing Rights charges hat will amount to US$30 million annually.
“In line with the IMF’s Articles of Agreements, these charges, levied at the SDR interest rate, which is updated at the beginning of each week, apply to the difference between Nigeria’s SDR holdings (SDR 3,164 million) (US$4.3 billion) and its cumulative SDR allocation (SDR 4,027 million) (US$5.5 billion)
“The net payment of the charges stops when Nigeria’s SDR holdings reach the cumulative allocation amount,” IMF said in the statement. Online fitness
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