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Oando, Access Bank, Others Lead Fundraising for North-East Crisis

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  • Oando, Access Bank, Others Lead Fundraising for North-East Crisis

The United Nations Nigerian Humanitarian Fund, made up of 14 private sector companies including Oando Plc and Access Bank Plc, have led the drive to raise funds for the humanitarian crisis in the North-East.

The fund, which was launched in November 2018, pooled funds from the private sector and donor countries to create a more collaborative and effective response to the ongoing humanitarian crisis in North-East.

Some of the private companies are Seplat Petroleum Development Company Plc, Zenith Bank Plc, Ecobank Transnational Incorporated, First Bank of Nigeria Limited, Nestle Nigeria Plc, Unilever Nigeria Plc and Nigerian Economic Summit Group, among others.

A statement on Monday said the companies were acting as advocates, proactively raising awareness of the plight of Nigerians in the North-East.

It said the NHF-PSI was founded on the premise that Nigeria’s private sector not only cared for its nation’s most vulnerable, but also possessed the vision, resources and natural problem-solving ability to reduce it on an unprecedented scale if harnessed into collective action.

The statement read in part, “Since the start of the Boko Haram crisis, more than 27,000 people have been killed in the three north-eastern states, thousands of women and girls have been abducted and an estimated 823,000 people remain in areas that are currently not accessible by international humanitarian actors.

“To assess the situation firsthand, on May 14, 2019, Oando led a delegation that included the Managing Director of Access Bank, Mr Herbert Wigwe, and the former Chairman, NESG, Mr Kyari Bukar, to a first-ever collective tour of two internally displaced camps in Maiduguri, Borno.

“The objectives of the tour were also to raise awareness of the plight of the millions of people in the North-East, and more directly galvanise a new wave of donor support for the initiative from businesses and individuals across the country.”

The Group Chief Executive Officer, Oando, Mr Wale Tinubu said private sector leaders had a collective responsibility to lend diverse resources to alleviate the suffering of Nigerians.

He stated that the onus was on private sector leaders to use their position to repair, nurture, build and sustain the society and pave a path for a truly inclusive economy.

The United Nations Humanitarian Coordinator for Nigeria, Mr Edward Kallon, said, “The humanitarian community has been working tirelessly to provide shelter, food, health care and other basic needs for families who have been left with little or nothing.

“To see directors of banks and energy companies show compassion for the mothers and fathers, daughters and sons affected by this crisis brings a new beacon of hope for people who have endured so much.”

Wigwe buttressed Tinubu’s point, saying, “We cannot keep looking for donor funded agencies from other countries to come and solve our problems. It is important to note that what is happening in the North-East can spiral to other parts of the country. So, we need to do what is required to stop it.”

He noted that each time the private sector in Nigeria stepped up to do something, they always succeeded.

“You can count on us that we will raise the money and continue to work with and support you to end this crisis. We know the government cannot do it alone, we will support the government,” Wigwe added.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Insurance

Heirs Insurance Group Unveils Revolutionary Website for Seamless Insurance Experience

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Heirs Insurance Group has launched a website designed to revolutionize the insurance experience for its customers.

With a focus on simplicity, accessibility, and personalized service, the new website aims to streamline the process of obtaining insurance coverage and empower customers to make informed decisions about their insurance needs.

The website boasts a range of innovative features that make navigating insurance options easier than ever before.

From simple and intuitive navigation menus to personalized insurance recommendations, the website is designed to guide customers through every step of the insurance process quickly and efficiently.

According to Ifesinachi Okpagu, the Chief Marketing Officer of Heirs Insurance Group, the new website embodies the company’s commitment to delivering exceptional customer service.

“Today’s customers want simplicity, and this new website delivers on that request,” Okpagu said. “We are empowering customers to take control of their lives, their businesses, assets, and their most cherished people.”

One of the key features of the website is its personalized insurance experience, which takes customers through a short journey to help them identify the best insurance plan for their needs.

Whether customers are looking for coverage for their home, car, business, or loved ones, the website provides tailored recommendations to ensure they find the right insurance solution quickly and easily.

With its user-friendly interface and innovative features, the new website from Heirs Insurance Group sets a new standard for the insurance industry, making it easier than ever for customers to protect what matters most to them.

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Banking Sector

Safaricom, Access Holdings Forge Partnership to Revolutionize Remittance Corridor in Africa

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Safaricom, the leading telecommunications company in Kenya, has entered into a strategic partnership with Access Holdings, spearheaded by Aigboje Aig-Imoukhuede.

The collaboration aims to revolutionize the remittance corridor between East and West Africa, marking a significant step towards enhancing financial inclusion and empowering millions of individuals across the continent.

The partnership comes on the heels of Access Holdings’ recent acquisition of the National Bank of Kenya Limited, signaling the company’s ambitious expansion into the East African market.

Leveraging Safaricom’s extensive network and expertise in mobile money through M-Pesa, which currently dominates the mobile money market in Kenya, the alliance seeks to create seamless and efficient channels for remittance transactions.

Aigboje Aig-Imoukhuede, the driving force behind Access Holdings, expressed enthusiasm about the collaboration, highlighting its potential to transcend traditional boundaries and foster greater economic connectivity between East and West Africa.

He highlighted the fusion of collective expertise and resources between the two entities, underlining their shared commitment to driving financial inclusion and empowerment across the continent.

The partnership holds promise for addressing the challenges faced by millions of Africans in accessing affordable and reliable remittance services.

By connecting more than 60 million customers and 5 million businesses across eight countries, the collaboration aims to facilitate over $1 billion in daily transaction value, significantly boosting the flow of remittances within and outside Africa.

With the first phase of the collaboration focusing on key markets such as Nigeria, Kenya, Ghana, and Tanzania, stakeholders anticipate a transformative impact on the remittance landscape, paving the way for greater intracontinental trade and economic integration in line with the objectives of initiatives like the African Continental Free Trade Area (AfCFTA).

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Banking Sector

EFCC Urged to Repatriate Recoveries to NDIC for Depositors’ Relief

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The Nigeria Deposit Insurance Corporation (NDIC) has made a fervent plea to the Economic and Financial Crimes Commission (EFCC) to expedite the repatriation of recovered funds to its coffers to facilitate the timely reimbursement of depositors affected by bank failures.

During a recent meeting between the Managing Director of NDIC, Bello Hassan, and the Executive Chairman of the EFCC, Ola Olukoyede, at the NDIC headquarters in Abuja, Hassan stressed the importance of enhanced collaboration between the two agencies in recovering depositors’ funds lost due to bank failures.

Hassan emphasized that the return of recoveries made by the EFCC on behalf of the NDIC would significantly contribute to the prompt reimbursement of affected depositors.

He commended the EFCC for its unwavering efforts in combating corruption and financial crimes, highlighting its crucial role as a key member of the Taskforce on Implementation of the Failed Banks Act chaired by the NDIC.

The NDIC boss also highlighted the existing partnership between the two organizations, which led to the establishment of the NDIC Help Desk at the EFCC in 2022.

He disclosed that several high-profile cases referred to the EFCC were currently under investigation.

In response, Olukoyede reiterated the EFCC’s commitment to collaborating closely with the NDIC to combat financial crimes and safeguard the integrity of the Nigerian banking sector.

He pledged to intensify efforts to repatriate recovered funds promptly, acknowledging the interconnectedness between criminal activities and bank failures.

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