NOVA Bank has officially commenced operations as a National Commercial Bank, as the bank opened its first commercial banking branch in the Victoria Island area of Lagos.

This followed Central Bank of Nigeria’s (CBN) approval of its final licence.

In a statement yesterday, Phillips Oduoza, chairman and founder of NOVA Bank, emphasised the bank’s unwavering commitment to customer focus and delivering exceptional service.

He also introduced the innovative ‘PHYGITAL’ model, which, according to him, is a trademark of NOVA.

“We are pleased to continue our tradition of excellence established as a merchant bank and further extend the banking experience to the retail end of the market. As we expand our services, we remain dedicated to delivering an unparalleled banking experience that seamlessly integrates the physical and digital realms.

“Our trademarked PHYGITAL experience combines a select number of strategically located physical branches with high-tech, seamless digital banking capabilities, ensuring that our customers receive the best of both worlds. This approach allows us to provide personalised, in-person service where it is most needed, while also offering the convenience and efficiency of cutting-edge digital solutions,” he explained.

Wale Oyedeji, managing director/chief executive officer of the bank, added, “For over half a decade, NOVA has been instrumental to the success of leading corporates and high-net-worth individuals, delivering tailored solutions to meet the unique needs of their businesses. As we evolve to serve a broader customer base, we remain committed to delivering innovative services, building on our legacy as a leading merchant bank.

“Through disruptive, seamless digital products and services, we are poised to deepen financial inclusion, provide convenient and secure banking solutions, and elevate the SME market as a key economic driver.”

NOVA Bank, which was established in 2018, is set to open additional branches in Lagos, Abuja, Port Harcourt and Kano.

Mrs Esther Adino, group head of Retail and Digital Banking, NOVA Bank, highlighted the innovative financial solutions the lender offers.

She asserted, “At NOVA Bank, we provide a comprehensive suite of banking services tailored to meet the diverse needs of individuals, SMEs, and large corporations.”

Accelerex, one of Africa’s leading fintech companies, has announced the launch of its groundbreaking “Pay with Fingerprint” solution. This solution, the first to be deployed on Point of Sale (PoS) terminals in Nigeria, allows bank account holders to make secure and convenient payments at merchant locations using their fingerprints on biometric-enabled PoS devices.

Pay with Fingerprint leverages advanced biometric technology to offer a seamless payment experience while enhancing security for consumers and merchants. The solution addresses common challenges such as card fraud and the inconvenience of carrying physical cards, paving the way for a more efficient and secure payment ecosystem. Its enhanced security ensures that only the account holder can authorize transactions, significantly reducing the risk of fraud.

Convenience is at the heart of this payment feature. Customers can make payments quickly and effortlessly by simply placing their finger on the biometric PoS device. This streamlined process not only accelerates transactions but also eliminates the need for customers to carry their bank cards, making everyday purchases smoother and more efficient. Indeed, Pay with Fingerprint is set to transform the payment landscape in Nigeria.

Chuks Anakudo, the Managing Director of Accelerex Nigeria, conveyed his enthusiasm regarding the potential of Pay with Fingerprint to foster a more secure commercial environment for both business owners and consumers, as well as to facilitate swift and efficient transactional operations.

“The launch of Pay with Fingerprint is a testament to our unwavering commitment to revolutionize Nigeria’s payment infrastructure with secure, user-centric solutions that provide consumers with choices,” stated Mr. Anakudo.

With the introduction of Pay with Fingerprint, Accelerex is not only pioneering the development and customization of this technology but has also achieved an unprecedented certification for biometric PoS devices by the Nigeria Inter-Bank Settlement System (NIBSS). This dedication to cutting-edge solutions cements Accelerex’s position as a vanguard in the Nigerian fintech sector.

With a robust portfolio of payment products and a strong emphasis on customer satisfaction, Accelerex has been at the forefront of digital payment revolution in Africa, providing different categories of businesses with the tools and resources they require to succeed.

Accelerex has grown into a formidable player in the fintech industry and has established itself as the preferred physical payments partner to all merchant acquiring banks in Nigeria.

The fintech company has over 150,000 merchants and agent endpoints across Africa and has consistently ranked as a top provider of payment channel services (by value of transactions processed) in Nigeria since 2018. It currently operates in Nigeria, Ghana and East Africa, with plans to expand to other parts of the continent in the future.

Union Bank of Nigeria has announced the promotion of 337 employees across various departments. This significant milestone underscores the bank’s commitment to recognising and rewarding the hard work, dedication and outstanding contributions of its employees.

At a recent town hall meeting, the Managing Director/Chief Executive Officer (MD/CEO) of Union Bank, Yetunde Oni, reaffirmed the bank’s commitment to fostering a culture of excellence and growth.

She said these well-deserved promotions reflect this commitment and the bank’s continuous efforts to empower its workforce and drive organisational success.

Speaking after the announcement, Oni said: “Today, we celebrate the achievements of our colleagues who have demonstrated exceptional performance, leadership and dedication to Union Bank’s core values.

“The promoted employees have shown exemplary performance, contributing significantly to the success of their teams and the bank as a whole.

“These promotions are not only a testament to their hard work but also a reflection of our belief in their potential to drive our Bank forward.

“At Union Bank, we understand that our people are our greatest asset. By investing in their growth and recognising their achievements, we are building a stronger, more dynamic organisation.

“We are excited to see how our promoted colleagues will continue to inspire and lead within the bank.”

She added that the recognition is part of Union Bank’s broader strategy to nurture talent, encourage professional development and ensure that employees are well-equipped to meet the evolving needs of customers and stakeholders.

The MD/CEO reassured stakeholders that Union Bank remains committed to creating an inclusive and supportive work environment that promotes career advancement and personal growth.

The bank will continue to implement initiatives aimed at developing talent, enhancing employee engagement and driving operational excellence, she said.