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RMB Nigeria Launches Online Transactional Banking Platform

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  • RMB Nigeria Launches Online Transactional Banking Platform

Rand Merchant Bank Nigeria (RMBN) has launched a banking solution known as ‘RMBN Digital,’ with the aim of at enhancing the transactional banking experience of its clients.

The Chief Executive Officer, Rand Merchant Bank Nigeria, Michael Larbie, who spoke at the launch of the digital platform in Lagos, said with the solution, RMBN aims to offer clients significant value by providing the “best user experience through a simple and secure channel.”

He added: “By integrating traditional banking with the online banking experience, we will build and foster a stronger connection with our clients and have a deeper level of customer engagement.”

Also, the Head of Corporate Banking, RMBN, Taiwo Shote, noted that with the new solution, the bank was living up to its slogan of being, “an innovative and solutions-driven bank.”.

He added: “We are ensuring that our clients enjoy a seamless and secure digital banking experience.”

He said the online banking offering was aimed at efficient cash management through adequate and accurate financial reporting as well as the timely processing of transactions.

“We understand the desires of our clients, top of which is to be able to access and activate banking transactions on the go while having a full view of transactions as they do business across different sectors and markets,” Shote added. “Understanding the needs of our clients enables us to partner with them across the entire value chain, enabling us to provide the appropriate corporate banking, advisory, financing, trading and risk management solutions”.

RMBN Digital is a dynamic platform that can be accessed via desktops, tablets, smart phones and integrated business-to-business systems. These channels may be configured by businesses to match the processing and reconciliation of banking transactions on their enterprise systems to ease administration and comply with reporting requirements.

The platform enables bulk payments in both local and foreign currencies; the viewing and downloading of real-time account balances and statements; and loan and fixed deposit reports. In addition, funds may be transferred internally or across borders, beneficiary advisories may be sent to third parties; payment advisories may be generated on all transactions; and instant payments could be processed.

RMBN Digital offers multiple account structures; the benefit of interest on all operational local currency accounts; simplified end-to-end reconciliation and monitoring; remote authorisation; and multi-transactional capabilities.

RMBN Digital meets all international standards of encryption and user authentication, so clients are assured of the security and confidentiality of their information and transactions.

The RMBN Online platform is yet another offering that lives up to RMB’s vision of continuously creating sustainable value, unique solutions and superior economic returns for clients and shareholders.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Finance

Nestle Nigeria Approves Final Dividend of N35.50k per 50 Kobo Ordinary Share for 2020

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Nestle Nigeria Approves Final Dividend of N35.50k per 50 Kobo Ordinary Share for 2020

Nestle Nigeria, a leading food and beverage company, has declared a final dividend of N35.50k per 50 kobo ordinary share for the year ended December 31, 2020.

The beverage company said N24.50k of the amount declared was from the after-tax profit of 2020 and N5 and N6 were from the after-tax retained earnings of the years ended December 2019 and 2018, respectively.

Nestle Nigeria stated that the amount declared is subject to appropriate withholding tax and approval at the Annual General Meeting of shareholders.

It also noted that payment will be made only to shareholders whose names appear in the Register of Members as at the close of business on 21 May 2021.

Dividends will be paid electronically to shareholders whose names appear on the Register of Members as at 21 May 2021, and who have completed the e-dividend registration and mandated the Registrar to pay their dividends directly into their Bank accounts.

Shareholders who are yet to complete the e-dividend registration are advised to download the Registrar’s E-Dividend Mandate Activation Form, which is also available on their website: www.gtlregistrars.com, complete and submit to the Registrar or their respective Banks.

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Banking Sector

Dennis Olisa Invests N53.6 Million in Zenith Bank

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Executive Director of Zenith Bank Plc Buys 2 Million Shares of Zenith Bank at N53.6 Million

Executive Director of Zenith Bank Plc, Dennis Olisa, has invested a combined N53.58 million in shares of Zenith Bank.

The leading financial institution stated in a disclosure statement filed with the Nigerian Stock Exchange (NSE) on Monday.

Olisa carried out the purchase in two different transactions on February 24, 2021 at the Nigerian Stock Exchange in Lagos, Nigeria.

He purchased 1 million units of Zenith Bank at N26.60 each and another 1 million shares at N26.50 per share.

On aggregate, Olisa purchased 2 million shares of Zenith Bank at N26.79 per share or N53.58 million. See the details below.

Dennis Olisa was appointed as Zenith Bank’s executive director three years ago.

Prior to his appointment, Mr. Olisa was the Chief Inspector at Zenith Bank Plc and served as its Director from March 3, 2017 until March 16, 2017.

He also served as General Manager and Heads of the Energy Oil & Gas Group at Zenith Bank Plc and served as its Deputy General Manager. He served as Head of Internal Control & Audit Group at Zenith Bank Plc

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Finance

Emefiele Pledges Accommodative Monetary Policy to Boost Economic Growth

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Godwin Emefile

Emefiele Pledges Accommodative Monetary Policy to Boost Economic Growth

The Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has pledged to adopt accommodative monetary policy stance in 2021 in order to support economic growth in the country.

Emefiele, said this on Friday, while speaking at a CBN/Bankers’ Committee’s initiative for economic growth, which is a one-day special summit on the economy by bank chief executive officers.

The theme of the summit is: “How to Overcome the Pitfalls of Recession.”

Nigeria’s economy recently came out of recession, according to the Gross Domestic Product report for fourth quarter 2020 released by the National Bureau of Statistics.

Owing to the slump GDP growth of 0.11 per cent that lifted the economy out of recession, Emefiele said it was imperative that, “we do all we can in 2021 and beyond to ensure that we build on the positive momentum and strengthen our efforts at stimulating growth.”

He expressed optimism that with the discovery and deployment of vaccines worldwide, 2021 would be a year of massive global recovery and Nigeria must not be left out.

“The banks CEOs are here, whether by moral suasion or by force, they will have to participate in this journey. In order to drive and sustain this recovery therefore, we need to sustain the accommodative fiscal and monetary policy measures aimed at improving access to finance for households and businesses.

“Secondly, we must prevent a resurgence in Covid-19 related cases. Thirdly, we must ensure that a significant number of our population is significantly vaccinated and also improve foreign exchange inflows into our country,” he added.

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