An Ikeja High Court remanded a staff of Union Bank Plc, Danasabe Ibrahim, and three others in prison custody, for allegedly defrauding the bank of N2.05 billion. The 47-year-old banker was arraigned alongside Salihu Mahmoud, 34; Friday Isaiah, 33; and Samuel Azaaior, 30, by the Economic and Financial Crimes Commission (EFCC). The News Agency of
FNB have expanded their digital banking reach into Africa by launching their Banking App and other digital banking services seamlessly into their African subsidiaries. According to FNB, the Banking App has amassed over 600 000 active App users in the South African market. The first of its kind to launch in Africa in July 2011,
The banking industry is pleased to announce that debit card fraud losses have decreased by 42% for the period 1 January- 30 September 2013. This is according to the latest banking industry’s card crime statistics as released by SABRIC (The South African Banking Risk Information Centre). This figure is significantly lower when compared to the
Nedbank Group unveiled Africa’s first ever banking branch that fully offsets its energy usage through renewable energy sources. The Lansdowne Corner branch situated in Cape Town utilises an innovative hybrid power installation, effectively making it a 100% off-the-grid outlet. The grid-tied renewable energy system harnesses solar and wind energy and converts this to standard mains
Standard Bank Group has expanded its Africa footprint with the opening of a representative office in the Ivory Coast (Côte d’Ivoire). This means that Standard Bank, which is the largest African banking group by assets and earnings, now has operations in 19 African countries. The representative office, which is based in Abidjan, officially opens for
Fundtech, a provider of global transaction banking solutions, announced that Ecobank, the pan-African bank, has successfully deployed Global CASHplus®, Fundtech’s integrated, real-time cross-border payment and cash management system in 30 African countries. Ecobank began implementation of the innovative Global CASHplus® cash management system with a single-country pilot implementation in June 2011. As a result of
Bank of America Merrill Lynch recently hosted its annual conference on trends and developments in commercial cards and payment solutions. The agenda of this year’s conference, entitled “Connect with what’s next,” highlighted the increasingly important role of electronic payments to assist companies with their working capital management. The conference included presentations by BofA Merrill experts
FNB’s eWallet is showing strong growth in its African operations with a 119% year-on-year increase in the last financial year. It has also maintained its growth trajectory in South Africa with the total number of eWallets in all countries reaching 2.5 million, an 84% increase on the previous financial year. “The success of eWallet in
Access Bank has introduced Nigeria’s first Corporate Internet Banking Solution with a variety of features optimised to address the traditional payment and cash management requirements of large corporate and other categories of businesses. Unveiled in Lagos, Primus by Access Bank is developed to address the complexity of daily business operations through effective management of payments,
Ecobank Transnational Incorporated, the leading pan-African banking group, is pleased to announce the official opening of its Ethiopian representative office in Addis Ababa. This brings the total number of countries in Sub-Saharan Africa in which Ecobank has a presence to 35. The Group obtained a license to operate a representative office in July 2013. The
