E-Financial
Hydrogen, CCHub Partner to Encourage Fintech Startup Success
As the country faces economic challenges, the need for adaptive strategies in the fintech industry becomes paramount. In line with this, leading Fintech startup, Hydrogen Payment Services Limited (‘Hydrogen’), has teamed up with Co-creation Hub (‘CcHub’) to host an insightful event themed, ‘Adapting Fintech Business Models to Economic Climes’.
The event, set to take place on Thursday, April 18, 2024, from 12:00 WAT at the CcHub office in Sabo, Lagos, will delve deep into the intricacies of Nigeria’s economic challenges and how these influence the fintech ecosystem.
Participants will gain actionable insights on how to adapt fintech business models to volatile economic conditions by prioritising flexibility, agility, and customer-centricity.
This collaboration underscores the shared commitment of both entities to empower aspiring founders venturing into the Fintech space amidst economic uncertainties.
By leveraging their respective expertise and resources, Hydrogen and CcHub aim to equip emerging entrepreneurs with the knowledge, tools, and support needed to thrive in today’s dynamic economic conditions.
Emeka Awagu, Chief Technology Officer at Hydrogen, commented on the strategic partnership with CcHUB: “Our alliance with CcHUB amplifies our shared commitment to pioneering transformative solutions in Nigeria’s fintech sector.
“By leveraging Hydrogen’s technological expertise alongside CcHUB’s innovative approach, we are primed to set a new standard for fintech excellence and drive impactful change across the industry.”
The event will feature a distinguished panel of industry experts and thought leaders, including, Ina Alogwu, Group Director, Digital Transformation, ARM HoldCo; Emeka Awagu, Chief Technology Officer, Hydrogen, and Miracle Ezechi, Digital Marketing Manager, Hydrogen.
The panel discussion will be moderated to encourage an engaging and insightful conversation on the strategies and innovations required to thrive in Nigeria’s Fintech landscape amidst economic challenges.
E-Financial
Greenwich Group Celebrates 30 Years of Financial Innovation
Greenwich Group, a leading financial solutions provider in Nigeria, is celebrating 30 years of delivering innovative financial solutions tailored to the evolving needs of stakeholders while contributing to the growth and development of the Nigerian economy.
The lead institution, formerly known as Greenwich Trust Ltd, has transitioned from its early days as a Financial Adviser and Issuing House into a Merchant Bank. In March 2024, Greenwich Merchant Bank was granted an Approval-In-Principle (AIP) by the Central Bank of Nigeria (CBN) for a non-operating financial holding company structure. Today, Greenwich Merchant Bank is the most capitalized Merchant Bank in Nigeria, with a strong asset base of ₦146 billion as of June 30, 2024.
In commemoration of its 30th Anniversary, the Company hosted an exclusive dinner event at the Grand Ballroom, Oriental Hotel in Lagos, to celebrate and appreciate its loyal Clients and Customers who have been part of the journey, as well as express its deep gratitude to the stakeholders, while rewarding 45 Staff members who have been instrumental in the Group’s journey to success. The event was well attended by dignitaries across board.
Amongst the awardees was a posthumous award for leadership, which was awarded to the late (Sir) Remi Omotosho with the sum of ₦50 million. The best Staff across the Greenwich Group, Mrs. Yakashim Shettem, also received the Kayode Falowo Award for Excellence which also went with a cash prize.
In his welcome remarks, Chairman of Greenwich Group, Kayode Falowo, expressed profound gratitude to God, appreciated the Company’s stakeholders, and noted that the dinner is part of the Group’s broader initiative to further appreciate its Clients and recognize the efforts of the Staff for their loyalty as it progresses to its next growth phase.
According to him, the institution is set to unfold a remarkable transformation by launching into new territories of businesses—Insurance, PFA and Fintech, as it has received an Approval-In-Principle from the Central Bank of Nigeria to operate as a holding company.
Speaking of some of the awardees, the Chairman hinted that Greenwich has continued to build on the legacy of the late (Sir) Remi Omotosho’s good governance, integrity, and professionalism, as he was part of the journey of the Company while alive. He further explained that the recipient of the Kayode Falowo Award for Excellence, Shettem was honored for epitomizing the core values of integrity, efficiency, innovation, loyalty, and transparency.
The Governor of Ogun State, Dapo Abiodun, a special guest at the event, commended the Chairman of Greenwich for demonstrating exemplary leadership and commitment to excellence in his role for spearheading the remarkable traits that have significantly contributed to the growth and success of the Institution.
“We are celebrating the testament of the triumph of tenacity, which is predicated on faith, hope, and fortitude. Kayode is somebody who is dependable, reliable, and very consistent. Kayode upholds all the attributes of good governance. He has demonstrated himself to be a good manager of human and financial resources over the years. I am convinced that your best is yet to come,” he added.
In his vote of thanks, the MD of Greenwich Merchant Bank, Benson Ogundeji acknowledged the presence of the stakeholders, other distinguished guests, top executives of other banks, and valued customers. He emphasized the significance of the celebration, attributing the success of the past decade to the unwavering support and guidance of the Chairman which has been instrumental to the growth of the institution, the commitment of the Staff, and the unwavering faith of the esteemed Shareholders in the Company’s vision, as their continued patronage has been fundamental to Greenwich’s success.
Dignitaries who attended the event included the Ooni of Ife, Oba Adeyeye Ogunwusi; Governor of Ogun State, Dapo Abiodun; Phillip Ikeazor, Deputy Governor, Financial System Stability of the CBN; President and Chairman of the Council of the Chartered Institute of Bankers of Nigeria (CIBN), Professor Pius Olanrewaju; Kayode Fayemi – Former Governor Ekiti State; Haruna Jalo Waziri, MD/CEO, CSCS Plc and Dr Emomotimi Agama, DG, SEC. Other dignitaries who attended the event included Mrs. Olufunke Agagu, the wife of a former Governor of Ondo State; Chief Pius Akinyelure, Chairman, Board of Directors, Nigerian National Petroleum Corporation (NNPC) and Ray Atelly, Chairman, Nigerian-British Chamber of Commerce (NBCC) and many others.
E-Financial
SEC Restates Commitment to Transparency in Fintech Regulation
Securities and Exchange Commission (SEC) has assured stakeholders in the fintech space it is committed to ensuring transparency and integrity in the regulation of the space.
Dr. Emomotimi Agama, director general, SEC, said it has provided a level playing field to all applicants.
Agama, stated this during a meeting with Regulatory Incubation and Accelerated Regulatory Incubation Program applicants on Monday.
The SEC DG stated that the commission understands the anxiety and the need to be regulated but added that they have to be very careful even in its desire to be inclusive.
He said, “The process of registration is a very technical process because registration is the hallmark of regulation. It goes beyond onboarding and registering, it requires monitoring, education, and surveillance and all of these are continuous. This journey is a new one that we have not gone through before. As we continue, we will find challenges, which we need to solve because every challenge is solvable.
“I am here to assuage fears being exhibited, we have provided a level playing field but as a government institution we must take things into context while doing this. The groups that were admitted into the ARIP and RI are beginning to see that we have started demanding for some information, operational updates and more regulatory requirements in line with the concept of a Regulation Incubation Programme or a Sandbox as some other institutions call it. In doing this, we are understudying what they are doing and the risk that they pose to investors and to themselves.
“We have not only done that, we have also issued new regulations to the public, which we call an exposure document. If you look at it, it is an upgraded version of our earlier regulations and the regulation making process demands that we get your views as stakeholders before it becomes a regulation.”
Agama stated that the inputs of stakeholders is important as regulators cannot claim to know everything adding that the rules would be amended to include all valid points to make it an all-inclusive document.
He further disclosed that the commission has increased the space to include more regulations to accommodate more individuals, more institutions and more functions because accommodation is the stance of the government regarding the space.
E-Financial
Ecobank Warns against Fraud during Yuletide
Ecobank Nigeria has cautioned customers to be vigilant against fraudsters during the Yuletide while promising uninterrupted access to banking services through its digital platforms throughout the holiday season.
In a statement on Monday, Adeola Ogunyemi, head, Consumer Banking at Ecobank Nigeria, emphasised that customers can continue their shopping and transactions smoothly via the bank’s various digital channels.
Ogunyemi highlighted the Bank’s long-standing commitment to digital transformation, which aims to improve customer experience and provide alternative access to banking services.
Ecobank Nigeria is an affiliate of the Ecobank Group, the leading pan-African banking group.
The bank offers a comprehensive suite of financial services and solutions to consumer, commercial, corporate, and investment banking customers at over 240 branches and 35,000 Xpress Point agencies across Nigeria.
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