E-Financial
Polaris Bank and Amtis Skills Place Partner to Empower Young Designers
In its determination to produce the next generation of young designers who will go on to capture the imagination of the world in fashion, Polaris Bank partnered, with Amtis Skills Place, a body dedicated to producing contemporary vocational skills to young Nigerians to identify, train and mentor young designers through the 2024 Amtis Fashion Competition.
Since its inception in 2015, Amtis Skills Place has been committed to equipping young Nigerians with vocational skills, bridging the gap between traditional education and the evolving job market.
This year’s event, proudly sponsored by Polaris Bank brought together emerging designers aged 18 to 35 gathered to design garments inspired by vintage styles.
Teams include; fashion designers, makeup artists, and models working collaboratively.
Participants were judged on creativity, craftsmanship, teamwork, and adherence to the vintage theme, celebrating classic fashion eras; while empowering the next generation of entrepreneurs.
The competition, organized by Amtis Skills Place, culminated in an awards ceremony where three finalists emerged as winners. Wuraola Robert clinched the top prize of ₦500,000, while the second and third-place winners were awarded ₦300,000 and ₦200,000, respectively.
In an address to the participants delivered on behalf of Polaris Bank’s Managing Director/CEO, Kayode Lawal remarked: “Polaris Bank ensures that you achieve your dreams in the right perspective, which is why we partnered with Amtis Vintage Fashion.
“We can assure you that there will be bigger things in the coming year: a more expanded event, more content, more giveaways, and greater empowerment for the business sector.”
Omotunde Adebusola, Managing Director of Amtis Skills Place, commended Polaris Bank for their pivotal role in supporting entrepreneurship in the country especially, the competition saying: “We are deeply grateful to Polaris Bank for believing in our vision to nurture young talents. Their partnership made this year’s event a resounding success, and we look forward to even greater collaborations in the future.”
The overall winner, Wuraola Robert, expressed her gratitude after receiving the grand prize saying: “I am overwhelmed with joy and gratitude to Polaris Bank for this incredible opportunity.
“This competition has transformed my career, and I’m excited to invest this prize into growing my brand.”
The Amtis Vintage Fashion Competition exemplifies the mission of Polaris Bank and Amtis Skills Place by empowering participants to translate their creativity into viable careers.
Polaris Bank was adjudged Nigeria’s Best Bank for MSMEs of the Year in Business Day’s Banks and Other Financial Institutions (BAFI) Awards & Nigeria’s Best Bank in MSME Lending in the maiden MSME Awards organized by Nairametrics & The Economic Forum.
E-Financial
AMMBAN Seeks Review of 5 Percent Charge Imposed on PoS Agents
Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has appealed to the Central Bank of Nigeria (CBN) and the Office of the Vice President, Kashim Shettima, to review the five per cent charge on Point of Sale (PoS) transactions imposed on its members.
The association stated that the recent introduction of the five per cent electronic fee on agents has added to the burdens faced by PoS operators nationwide. It emphasized that the fee is onerous, considering that agents already shoulder numerous costs to deliver their services
The appeal was made in a statement issued on Tuesday in Ibadan. The association lamented that PoS operators are not treated as priority agents for cash accessibility, which has made it difficult for them to access cash while providing essential financial services to the public.
The statement explained that even when agents visit banks or their principals to obtain cash, they often fail to receive it. This situation is unsustainable, as agents are expected to provide financial services without adequate support or funding.
The statement further criticized the introduction of the five per cent electronic fee, describing it as a significant burden on PoS operators who are already dealing with numerous financial constraints.
In light of the current inflation rate, the association proposed raising the electronic fee threshold to N50,000, noting that this adjustment would not affect low-income individuals, who are exempt from the fee.
The association also expressed concern that the current arrangement could hinder the government’s efforts to drive financial inclusion. It called on the CBN and the Office of the Vice President to review the policy and ensure that principals provide adequate support and funding to their agents.
The statement was signed by several key officials, including Mr. Badiru Asimiyu Olawale, Osun State chairman; Mr. Ogungbayi Ganiyu, national Public Relations officer, and other representatives from Bauchi, Edo, and Abia States.
E-Financial
Mastercard Move and BCP Group Partner to Enhance Cross-Border Payments
In collaboration with Mastercard, the BCP Group will leverage Mastercard Move’s money movement capabilities to enhance cross-border payments for their corporate and individual clients. The collaboration aims to enable near instant, traceable, secure and cost-effective cross-border payments to and from the multiple markets where the BCP Group operates in Africa.
The move reflects the shared vision of both organizations to provide inclusive and innovative financial solutions that optimize transfer operations while reducing transaction costs for end users. It also demonstrates the BCP Group’s strong commitment to addressing the needs of consumers and businesses in the region.
Mr. Kamal Mokdad, General Manager of BCP & International, stated: “We are delighted to join forces with Mastercard to address the real needs of the populations in our various countries of presence in Africa.
This collaboration marks a new milestone in the strategic relationship between the BCP Group and Mastercard; it demonstrates our commitment to providing superior payment services and driving innovation in the African banking sector. In addition to improving the customer experience, the new solutions offered will support the economic growth of our region by facilitating the exchange of international flows through simplified transfers at competitive prices.”
“At Mastercard, we are committed to building a prosperous digital economy where everyone can thrive. Our latest collaboration with BCP perfectly aligns with our mission to provide our customers with innovative payment solutions that meet the evolving needs of their consumer and business customers.
Together, we will work to develop a more connected and inclusive financial ecosystem by delivering funds with speed, transparency, and flexibility,” said Mr. Dimitrios Dosis, President of Eastern Europe, Middle East & Africa at Mastercard.
Mastercard Move is Mastercard’s comprehensive portfolio of money movement solutions offering a range of domestic and international payment experiences, from personal payments to disbursements to business payments.
Mastercard Move facilitates the transfer of funds to various endpoints in over 150 currencies across more than 180 countries.
E-Financial
NITDA Warns Nigerians about Malware Stealing Banking Details
National Information Technology Development Agency (NITDA) has warned Nigerians about a dangerous banking malware that targets users worldwide through complex phishing schemes.
The warning was issued by NITDA’s Computer Emergency Readiness and Response Team (CERT) on Monday via social media.
The agency described the new version of Grandoreiro as a serious threat that uses sophisticated methods to steal sensitive information.
Malware, short for malicious software, refers to any intrusive software developed by cybercriminals (often called hackers) to steal data and damage or destroy computers and computer systems.
According to the agency, the malware employs “advanced techniques, including screen overlay attacks and remote device control, to steal sensitive information such as banking credentials and personal data.”
NITDA explained that the malware primarily spreads through phishing emails and fraudulent websites.
These deceptive platforms trick victims into downloading malicious software by disguising it as legitimate updates or documents.
Once installed, the malware can bypass security protections, giving attackers unauthorized access to users’ devices.
The agency warned that this could result in significant financial losses and potential identity theft.
The agency urged the public to exercise caution and adopt recommended security measures to mitigate the risk.
“Cyber threats like Grandoreiro are evolving, and users need to stay vigilant and adopt robust security practices to protect their information,” the agency advised.
NITDA recommended avoiding links and attachments from unknown emails, downloading software only from trusted sources, and enabling multifactor authentication for online banking and financial accounts.
The agency also emphasized the importance of keeping antivirus software updated, avoiding public Wi-Fi for financial transactions, and regularly monitoring bank accounts for unauthorized activities.
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