The Registrar and Chief Executive Officer, Chartered Institute of Bankers of Nigeria (CIBN), ‘Seye Awojobi has commended Ecobank Nigeria’s various initiatives targeted at building the capacity of its workforce. The Registrar made this disclosure while speaking at the graduation ceremony of Ecobank pioneer management trainees in Lagos. Awojobi, who was represented by Group Head, Membership Services, CIBN, Akin Morakinyo observed that over the years, the bank has accorded priority to various learning and development initiatives which exposes staff to new career development within the banking industry. He emphasized that such competency improvement was important for the banking sector, stressing that it aligns with the current dynamics of the industry and global best practice.



He encouraged the young graduates to “make it happen”, by doing everything possible to excel in their chosen area in banking. “You should see yourself as change agents. For you to grow in your career, you must possess integrity and honesty; you must also be consistent and aspire to achieve. Strive to do what is right at all times.” He noted. Alluding to the state of the art equipment, syllabus and faculty of the Ecobank Academy, Awojobi disclosed that CIBN had granted exemptions in some of the courses in its professional examinations to graduates of the Academy. He therefore urged the young graduates to take advantage of the Ecobank waiver to become chartered members of the Institute.



Also speaking, Managing Director, Ecobank Nigeria, Patrick Akinwuntan, charged the graduates to discharge their duties and assignments with high level of professionalism. He stressed that Ecobank is a veritable platform for them to excel and attain their career aspirations. According to the Managing Director, “Ecobank is a great place for you to exhibit what you have been taught in the last 18 months in this Academy. It is a place where you can achieve your career goals. Be ready to discharge your task effectively and efficiently and note that your future in the bank starts now.” Mr Akinwuntan reiterated that Ecobank is highly committed to delivering on its promise of investing in creating leaders for the banking industry.



Ecobank Transnational Incorporated, Group Head, Talent, Learning and Organizational Development, Simon Rey, emphasized the power of synergy. He noted that the young graduates need each other to excel and succeed on their job functions and career in the bank.



In his opening address, Acting Head, Human Resources, Ecobank Nigeria, Adekunle Adewuyi advised the young graduates to adhere strictly to the bank’s core values. He said the core values should be internalized as driving force to become credible bankers.



The Ecobank pioneer set of management trainees passed through rigorous training for 18 months at Ecobank Nigeria Academy. The training involved classroom exercise, on the job rotation, special assignments to some Affiliates within the Group. The event tagged: “The Future Is Now” was attended by industry regulator, CIBN, industry experts as well as partners.

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Ecobank Nigeria Ltd is partnering with the Nigeria Incentive-based Risk-Sharing System for Agricultural Lending (NIRSAL), United States Agency for International Development (USAID), Development Bank of Nigeria (DBN) and other developmental partners to double the amount of credit it provides to the agricultural sector over the next two/three years.



Some of the partners will be providing guarantee on loans granted by Ecobank to Nigerian farmers and processors. Mojisola Oguntoyinbo, the head of Agric Business Department of Ecobank Nigeria, said in Lagos. Separately, we are exploring partnership across the globe to support cheaper lines of credit to players in the industry through Export Credit Agencies.



The Bank plan to increase loan portfolio to the agricultural sector by N70billion within the next 2- 3years and the lender will hold an Agribusiness summit next month themed – “Unlocking Productivity and Investment opportunities across Nigeria’s Agribusiness value chain” Oguntoyinbo said. It will target all players in all value-chain of the sector (input suppliers, crop and livestock producers, processors, commodity exporters etc).



Banks in Africa’s biggest oil producer are increasing lending to the agricultural industry amid a push by President Muhammadu Buhari’s government to diversify the economy away from crude. The Central Bank of Nigeria has regulated banks to maintain a minimum loan-to-deposit ratio of 65% or face penalties, while supporting the government’s drive to produce more food locally and curb imports.

While Ecobank has a loan-to-deposit ratio of more than 65% in Nigeria, it is targeting agriculture to boost its “return on investment,” according to Oguntoyinbo. “Small and medium enterprises are growing rapidly in the agricultural sector and there are opportunities there, which we desire to nurture for growth and development.”

Ecobank Opens Up Agric Financing Scheme; Sets To Host Nigeria’s Biggest Agric-Business And Food Summit

Ecobank Nigeria has announced an Agriculture Businesses Finance Scheme where it plans to disburse additional loan of N70 Billion for practitioners in different value chains of Agriculture within the next two years. This announcement is coming just as the bank is set to organise Nigeria’s Biggest Agribusiness And Food Summit in February 2020. The Agribusiness summit is part of its determination to further showcase the potentials in the agricultural sector of the nation’s economy in partnership with Vanguard newspapers, The Economic Forum Series and Nigeria Agribusiness Group (NABG).



The summit with the theme: Unlocking productivity and investment opportunities across the Agribusiness value chain is scheduled for February 13, 2020 at the Grand Banquet Hall, Civic Centre, Ozumba Mbadiwe, Victoria Island, Lagos.



Head, Agribusiness, Ecobank Nigeria, Mojisola Oguntoyinbo, said the summit is part of the bank’s continuous contribution to the growth and development of the agriculture sector of the nation’s economy. According to her, a pool of notable thought leaders and industry experts have been assembled to address key and current issues in the agricultural space as it relates to current economic developments and participants will also be given the opportunity to exhibit their products and services within the agriculture value chain.



“This maiden edition of the Ecobank Agribusiness Summit is to stimulate discussions, examine critically the opportunities with the intent of unlocking the growth potentials in the entire value chain of the agric sector. The full day event will include keynote speakers, panel discussion sessions and exhibition of Agro and Agro-allied products where marketplace experience will be created for buyers and sellers to interact and make sales. Between 400 to 450 companies, regulators and other stake holders in Agric-business are expected to attend and participate at the event. This will create opportunity for networking among the industry players.” She noted.



Further, Mrs Oguntoyibo noted that the Summit would amongst other things examine the potential impact of agriculture technology investment in fixing low productivity in Nigeria’s food production; how government policy, laws and regulatory framework can drive effective public private partnership; evaluate existing traditional agriculture finance models in Nigeria and the role and impact of technology enabled commodity exchange trading across the agriculture value chain, and the role of developmental partners and international agencies in driving funding and investments across the agriculture value chain.



Jude Ndu Co-Founder, the Economic Forum Series and Director, Vanguard Conferences says ‘we are delighted to be partnering with Ecobank Nigeria on the conceptualisation, strategy and execution of this high profile event in line with the Central Bank of Nigeria (CBN) agriculture policy and the Economic Recovery and Growth Plan (ERGP) of the federal Government. As a media organisation, this is our own way of contributing to the growth prospect of the sector through audience engagement by bringing together critical stakeholders to discuss solutions to the issues of low productivity and investment opportunities across Nigeria’s agricultural value chain’.



Notable participants at the summit include the Honourable Minister of Agriculture & Rural Development, Federal Republic of Nigeria, Alhaji Sabo Nanono as Special Guest of Honour, Dr Andrew S Nevin, Chief Economist and Partner, Financial Services Sector, PwC as Keynote Speaker. Other speakers and Panelists are Patrick Akinwuntan MD/CEO Ecobank Nigeria, Abdulhameed Aliyu MD/CEO NIRSAL, Mr Emmanuel Ijewere Vice President Nigeria Agribusiness Group (NABG), Ayodeji Balogun, Country CEO AFEX Commodities Exchange amongst others.



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Lagos, January 6, 2020 - Ecobank Nigeria has complied with the Central Bank of Nigeria’s recent directive on the reduction of bank charges. The bank commended the CBN for taking bold steps to further strengthen the financial inclusion drive in the country. It will be recalled that in October 2019, Ecobank announced the elimination of session charges on its USSD platform - *326#, months prior to the new CBN directive. Customers using *326# for their transactions such as inter and intra bank funds transfers, bill payments, airtime top-up, balance enquiry etc. can do so at zero session fees.



Further to the removal of the session charges, Patrick Akinwuntan, Managing Director, Ecobank Nigeria, advocated stakeholder buy-in to make banking more affordable and accessible to all. He noted that lower charges would encourage the unbanked to adopt structured financial services, thereby driving financial inclusion and economic growth. Ecobank has been at the forefront of the campaign for inclusive, affordable banking. Anyone, regardless of their social class, can open the Ecobank Xpress Account with Zero Naira, from any phone type, simply by dialing *326#. The account opening process is fully “do it yourself” without any documentation or paperwork.



The Managing Director, in his new year message to customers, stated that “Our removal of session charges on Ecobank *326# well ahead of the recent downward review of charges on digital transactions by the Central Bank of Nigeria further demonstrates our commitment to delivering more savings to our customers, making banking with Ecobank more delightful in the new year and beyond”



In the same vein, it must be noted that Ecobank also offers EcobankPay which is a cashless easy-to-make-payment service at over 100,000 merchant locations in over 50 markets in Nigeria whilst Ecobank’s proprietary money transfer service, Rapidtransfer, offers Africans living in the diaspora the option of sending money home to their loved ones at minimal fees relative to competition. Ecobank Xpress Point Agents have also been deployed by the bank to bring banking to every neighbourhood in Nigeria. At the corporate level, Ecobank Online, Ecobank OMNIPLUS and Ecobank OMNILITE provide easy payment and collection services to customers.



Ecobank has reiterated its resolve to delight its customers better this new year by delivering exceptional service, products and solutions.



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Lagos, December 13, 2019 - Ecobank Nigeria is partnering with Lagos State Ministry of Environment on Waterfront Clean Up Program to enhance the preservation of marine Ecosystem and effectively facilitate socio-economic activities such as transportation, power generation, irrigation and habitat to aquatic life. The exercise, tagged “Cleaner Waterfront Our Pride”, was flagged off on Thursday at the Lagos State Government, Ferry Jetty, Amuwo-Odofin.



In his comment, Joe Igbokwe, Special Adviser to the Governor of Lagos State on drainage and water resources, said the project was dedicated to cleaning Lagos waterfronts and educating people on ways of disposing plastic waste properly rather than dumping them into the gutter and how to preserve the Ecosystem in general. Mr. Igbiokwe who profusely commended Ecobank for its continual support on environmental sustainability issues noted that each and every one of the citizens and corporate bodies are stakeholders and must be involved in helping to preserve the environment, as it is a call to action for all.



Also speaking, the Managing Director, Ecobank Nigeria, Patrick Akinwuntan said the partnership to clear up Lagos waterfronts is part of the Pan African bank’s Corporate Social Responsibility (CSR) policy to support environmental sustainability initiatives with a view to making the environment safer for living. According to him, the partnership with Lagos State Government and other non- governmental organisations across the continent was in that direction. He noted that the water bodies are priceless gifts of nature with huge aesthetic, tourism and economic values. He lamented that these however had been subjected to all forms of abuse and degradation, including dumping and littering with solid wastes and all forms of debris.



The Managing Director who was represented by Tunde Dawodu, a General Manager in the bank, pointed out that there should be a culture change on the way we dispose of our garbage. This he noted starts with every one of us. He noted that it was in recognition of this fact, that Ecobank in May this year launched a campaign tagged: ‘Plastic Bottle for Cash’ to pick up four million bottles from Lagos drainages. Under the initiative, Lagos residents were informed and encouraged to exchange plastic bottles for cash at designated locations across the State. Of the 4 million target set, over two million used plastic bottles have so far been removed from the streets as the project continues to the end of the year.



According to him, “this initiative is part of our sustainability week for 2019, designed to create awareness on environmental sustainability and to buttress the fact that as a bank, we take time in helping to protect the environment where we operate. Ecobank is an environmentally friendly and socially responsible entity in alignment with the expectation of the Nigeria Sustainability Banking Policy of Central Bank of Nigeria.” He noted that the 2019 campaign centered on cleaning Lagos and its environs of used plastic bottles along streets, drainages and water ways by collecting and recycling four million plastic bottles. “We hope to reduce this menace affecting our ocean marine life and threatening the food chain. As a responsible corporate organization, the bank will do all it takes to check the trend to ensure a safer living environment for every one of us”.





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Lagos, December 10, 2019 - Ecobankmobile *326# and Terra Kulture are reliving “Fela’s Republic and the Kalakuta Queens’ making this a December to remember. While ‘Fela and the Kalakuta Queens’ was majorly an exploration of the life of Fela Kuti and his wives, Fela’s Republic and the Kalakuta Queens has infused the celebration of the unapologetic and prophetic messages enshrined in his music into the original storyline.



Following the success of ‘Fela and the Kalakuta Queens’ in Lagos, Abuja, Cairo and Pretoria, Bolanle Austen-Peters Productions partnering Ecobankmobile *326# is reliving the sequel – ‘Fela’s Republic and the Kalakuta Queens’ to Terra Kulture audiences through the yuletide festive season.



In her comment, Bolanle Austen-Peters said “the play which first opened in Lagos in 2017 has now been shown in different countries across the continent. However, we’ve brought it back to Lagos because there has been a lot of clamour for that to be done. The sequel is just as exciting and the major twist to it is that the new play is a fusion of the Kalakuta Queens and Fela’s social messages.”



Having raised the bar with the local and international success of Saaro the Musical, Wakaa the musical, Queen Moremi the Musical, and others, Bolanle Austen-Peters Productions is set to thrill audiences with this new musical play at the Terra Arena, Victoria Island Lagos from December 14, 2019 to January 2020.



Also commenting, Carol Oyedeji, Executive Director, Commercial Banking, Ecobank Nigeria said the partnership is one of the several initiatives by the Pan African Bank to boost tourism, culture and the entertainment industry in Nigeria which is in line with Central Bank of Nigeria (CBN)’s initiative for banks to support the growth of the creative industry. She reiterated that Ecobankmobile *326# is pleased to support the growth of theater which is a key driver of Africa’s history and rich culture and most significantly youth engagement and empowerment.



“As the Pan-African bank, Ecobank is proud to partner with Bolanle Austen-Peters Productions as a symbol of our support to building the family and lifestyle of Nigerians. Ecobankmobile *326# is joining forces with Bolanle Austen-Peters to ensure that the Lagos show is a success. Let me also state here that Ecobankmobile *326#, Ecobankpay, Ecobankmobile App, Ecobankxpress Account are some of our cutting edge products bringing easy, affordable and convenient financial services to the youth, entrepreneurs and businesses, both local and foreign which are expected at the Tera Kulture this season”. She stated.



Fela’s Republic and the Kalakuta Queens is supported by Ecobank, Amstel Malta, MTN, Dormanlong, the Estate of Fela Anikulapo Kuti, Africa Magic, Red Media Africa, Beat FM amongst others.

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Lagos November 13, 2019 - The Unusual Entrepreneurship Programme has entered into a strategic partnership with Ecobank Nigeria to provide all banking support and funding to the selected entrepreneurs in the 2019 cohort.



Announcing the partnership in Lagos, Mr Valentine Ozigbo, Chairman of the Unusual Entrepreneur, thanked Ecobank management for the support. He stated that as exclusive bankers to the program, the entrepreneurs will be provided banking services and SME on-boarding support in their journey as entrepreneurs.



The Unusual Entrepreneur, the foremost faith-based entrepreneurship programme in Nigeria, will empower 250 smart men and women members of the Church from the entire Catholic Archdiocese of Lagos. These entrepreneurs will be awarded with prizes ranging from N50,000 to N1,000,000 per person. Apart from the funding, they will also be provided with mentorship, business training and other critical support they require to succeed long term.



Launched in 2018, the vision of the Unusual Entrepreneur is to be the pre-eminent faith-based entrepreneurship programme in Nigeria that unlocks the obstacles Nigerian entrepreneurs face as they grow their start-ups by equipping them with the necessary skills, support, training, mentorship and funding to build strong and sustainable businesses which will scale over time.



Commenting about the partnership, Managing Director, Ecobank Nigeria, Mr. Patrick Akinwuntan, affirmed the bank’s support and noted that “the objective of Unusual Entrepreneur in providing funding and mentorship support resonates strongly with not just our drive for youth empowerment as a corporate social responsibility, but an opportunity for our SME desk to handhold these individuals to a time when they emerge successful business men and women, thereby helping with Nigeria’s economic development and job creation.



To be eligible for the programme, applicants must meet the following criteria

Business must be a Nigerian or legal resident in Nigeria (Lagos).
Business must be for-profit
Applicants must be willing to attend all training and mentoring exercises organised by the programme
Applicants must be at least 18 years old.


The Unusual Entrepreneur is part of the program of Unusual Praise, started few years ago by the Catholic Church of Divine Mercy, and has quickly grown to become the biggest of its kind within the Catholic Community in Africa- with explosive and spirit filled ministrations by megastar acts such as Chioma Jesus, Don Moen, Sinach, Nicole C Mullen, Olumide Dada, Mahalia, Mercy Chinwo, Sr. Agatha Ozah, Joe Praize and a plethora of globally recognised gospel stars in previous years.



This year’s edition promises to be an incredible night of praise and worship with Gospel Acts like Nathaniel Bassey, Panam Percy Paul, Chioma Jesus, Tope Alabi, Big Bolaji, Osinachi Nwachukwu, and many more you cannot afford to miss. It will also feature our upcoming Catholic ministers and promises an unforgettable spiritual connection, and most importantly a refreshing and uplifting experience in the presence of God.



For more information, visit http://www.unusualentrepreneur.com or send enquiries to info@unusualentrepreneur.com

“Nigeria Must Position To Get Optimum Benefit from African Free Trade Agreement” – Ecobank



Abuja, October 8, 2019 – Ecobank has advocated that Nigeria takes the lead and positions itself to get optimum benefits from the implementation of the African Continental Free Trade Agreement (AfCFTA). According to the bank, Nigeria undoubtedly has the largest and most vigorous economy in Africa and therefore must position itself to lead in the continent with a population of about 1.2 billion people that is projected to double by 2050, making it one of the largest free trade area the world.



The Managing Director of Ecobank Nigeria, Patrick Akinwuntan who spoke at the 25th Nigerian Economic Summit in Abuja, highlighted the need for Nigeria to take the lead on the implementation of the AfCFTA agreement.



Akinwuntan, who was at the panel session titled “AfCFTA: "Capitalizing on Opportunity", said there was the urgent need to fix certain infrastructures within the Nigerian economy to allow for a competitive operation and to bring about ease of trade. He noted that infrastructures that will aid timeliness in carrying out business activities, such as fixing of the present transportation system, fixing of the current electricity issues and ease of import and export activities within our ports and borders need urgent attention.



In his words, “One of the clear lessons to note for us to compete effectively, and to excel in the advantages that the AfCFTA agreement offers, is that we have to act at gGlobal standards and project Africa as one market. Nigeria has the largest economy in Africa, and as such we need to step up, by fixing all the hindrances to the AfCFTA agreement within our economy.”



Further, he said some smaller countries are already positioning themselves for the opportunities that abound in the free trade agreement, and so Nigeria must be ready.



For the financial institutions, he noted that there was the need for an effective African payments system, as this will greatly impact the agreement. “At Ecobank we have a pan-African payment system that works across 33 African countries and this will help in creating seamless trade transactions once the AfCFTA agreement is implemented. The Ecobank app is a unified app that caters to Africa’s diversity in language and currencies, this will further contribute to the advantages of the AfCFTA agreement.” He stated.



Also speaking on the panel session was is Assistant Chief Trade Negotiator, AfCFTA/ECOWAS, from the Nigerian Office for Trade Negotiations (NOTN), Demitta Gyang Chinwude, who emphasized the need for everyone to understand the laws of the AfCFTA.



According to her, “the first things businesses need to know are the laws guiding the AfCFTA agreement, they need to know their rights and equip themselves adequately to operate within these laws. All businesses, must have an AfCFTA desk officer, who will act as a liaison officer and is equipped with the right information for your business.”



Chinwude said the Nigerian Office for Trade Negotiations (NOTN,) is taking the lead by breaking down the laws of the AfCFTA into leaflets that will be easy to understand.



The Nigerian Economic Summit Group (NESG), a public-private dialogue in Nigeria. This year’s summit which held on the 7th and 8th of October 2019 at the Transcorp Hilton Hotel in Abuja, had Ecobank as a major partner and the summit focused on three key pillars - economic growth, competitiveness, and inclusive development.



Since its inception, NESG has promoted its activities around six fundamental principles of the economy. It includes a commitment to a Free Market Economy, encouragement of Private Sector Investments, Creation of an Enabling Environment, Good Governance in the National Interest, Rule-Based Economy and the Establishment of Economic Foundation for Democracy.



Ecobank is a pan-African banking conglomerate, with banking operations in 36 African countries.

Lagos, October 3, 2019: - All is set for staff of Ecobank Nigeria to “Walk Against Cancer” this Saturday October 5th, being part of activities to mark the Ecobank Day 2019. Ecobank Day is a special day set aside every year by Ecobank Group, for the management and staff of the bank to embark on Corporate Social Responsibility (CSR) activities that impacts its immediate environment and people. The initiative encapsulates Ecobank desire to give back to the local communities where it does business through volunteering, donating or fundraising. The theme for this year’s edition is "Preventing Non Communicable Diseases" with special focus on "Cancer Awareness". Ecobank day holds simultaneously in 36 countries in Africa where the bank operates.

In his message, the Chief Risk Officer, Ecobank Nigeria, Biyi Olagbami, who is also the CSR lead, said the choice of this year’s theme is to further raise awareness on non-communicable diseases, particularly the dreaded cancer which is currently ravaging millions of people globally as early detection would help save many lives. He noted that staff of the bank and other interested members of the public will this Saturday embark on 5km cancer awareness walk in three key cities – Lagos, Abuja and Port Harcourt.

According to Mr Olagbami , “there would be special fund raising that will be subsequently donated to a local cancer treatment centre. Also there will be health talk by cancer specialists and speeches and testimonies from cancer survivors amongst other activities lined up for the day.

Further, he noted that Ecobank Day in Nigeria had supported a variety of causes ranging from malaria prevention, improvement of education standard in some of the most deprived areas and promotion of safe water for healthy life, among others.

Ecobank Nigeria has made significant strides in its CSR activities in recent times. Lately the bank embarked on the removal of non- biodegradable elements particularly plastic bottles from the streets of Lagos. The initiative, which is still on-going, has generated commendations, recognitions and goodwill from government officials, corporate organizations and well-meaning individuals.

Ecobank Nigeria had in May, informed Lagos residents to exchange plastic bottles for cash at designated locations across the state. The collectors are incentivized with N30 for every kilogram plastic bottle picked. A set target to remove 4 million was agreed. So far, the bank has successfully removed over 2 million plastic bottles in exchange for cash. Also a week tagged ‘Ecobank sustainability week was set aside during which symposia were organized for secondary schools’ students to create awareness on tackling plastic wastes and other environmental issues.

Ecobank Nigeria to lead CIBN Consultative Committee for 13th Annual Banking and Finance conference (2020)

-First Bank Adeduntan transfers baton to Akinwuntan


Abuja, September 26, 2019 - The baton of the leadership of the Consultative Committee for the 13th Annual Banking and Finance conference (2020) of the Chartered Institute of Bankers of Nigeria (CIBN) on Wednesday in Abuja fell on Ecobank with the Managing Director, Patrick Akinwuntan as Chairman. According to CIBN, the choice of the Pan African Ecobank is hinged on the massive and consistent support for the Institute over the years. The CIBN stressed that it has absolute confidence on Ecobank and Mr. Akinwuntan to deliver based on his antecedents.


Ecobank takes over from First Bank, whose CEO, Dr Adesola Adeduntan championed the just concluded 12th edition CIBN Annual Banking and Finance Conference.


The Conference Consultative Committee is responsible for the planning and organizing a successful conference next year. It would determine the conference venue; theme and sub-themes; secure the acceptance of the conference facilitators and design the conference programme of events, amongst others.

Lagos, September 20, 2019 - Ecobank Nigeria has announced the appointment of key Management Officers across various levels. Amongst those appointed are Kenneth Okere, who is now the Company Secretary & Chief Legal Counsel; Ibukunoluwa Oyedeji, Chief Financial Officer (CFO); Abiola Aderinola, Financial Controller; Adetokunbo Uko, Treasurer and Akintunde Dawodu, Chief Compliance Officer and Head, Compliance & Control. All the appointments have since been ratified by the Central Bank of Nigeria (CBN).



Commenting, the Managing Director, Ecobank Nigeria, Patrick Akinwuntan, said the appointments are in line with the bank’s Roadmap to Leadership Transformation Programme. He also noted that Ecobank which also promoted over 950 staff early this year, is committed to meritocracy, providing exciting career opportunities to deserving staff in order to achieve improved profitability, cost efficiency, regulatory compliance and customer excellence.



The new Company Secretary and Chief Legal Counsel, Kenneth Okere has over 26 years legal experience. He has held various senior roles within the Legal department in Ecobank Nigeria. He previously worked at Metropolitan Bank, Omega Bank and Bayo Osipitan & Co. (Legal Practitioners). Kenneth Okere holds an LL.B, B.L and LL.M in Law from the University of Jos and University of Lagos respectively. He is also a Member of both the Nigerian Bar Association (NBA) and International Bar Association (IBA).



The Chief Financial Officer (CFO), Ibukunoluwa Oyedeji, has over 20 years’ experience in funds/assets management, credit analysis, treasury management and securities trading. She was until this appointment the country Head for the Securities, Wealth and Assets Management business of the Ecobank Group. She previously worked at the FBN Capital Assets Managements, Guaranty Trust Bank Plc, Goldman Sachs international, HSBC Global Market and Morgan Stanley international. Ibukun holds a Bachelors’ degree in Economics from the University of Ibadan and Master’s degree (MSc) in International Securities and Investment Banking from ISMA Center, University of Reading, UK. She is a CFA Charter holder, Fellow of the Institute of Chartered Accountants of Nigeria (FCA) and an Associate of the Chartered Institute of Stockbrokers (CIS) of Nigeria.



Abiola Aderinola, the new Financial Controller, has over 19 years banking experience covering various aspects of financial control function & regulatory reporting, MIS, performance management, management & statutory reporting, and strategic planning. He started his banking career with metropolitan bank and later on in his career worked as the Chief Financial Officer (CFO) of Ecobank Zambia. Abiola holds, a BSc Degree in Banking & Finance from Olabisi Onabanjo University, an MBA from University of Lagos and a Diploma in International Financial Reporting. He is also an Associate Member of the Institute of Chartered Accountants of Nigeria (ACA) and an Associate Member, Accounting Technician (AAT).



Adetokunbo UKo, the Treasurer, Ecobank Nigeria has 25 years banking experience covering Treasury and Financial institutions Marketing, Retail Banking, Public Sector, Credit & Marketing and Branch Operations. She began her banking career with Gulf Bank in 1994 working in Branch Operations, Sales/Marketing roles, and Treasury. She also worked at Oceanic Bank (now Ecobank) as Head, Treasury & Financial Institutions and Treasurer. Adetokunbo is a member of the Financial Markets Dealers Association (FMDA) and Chartered Institute of Bankers of Nigeria (CIBN). She holds an MBA from Obafemi Awolowo University and a B.A. in English from Ogun State University.



Akintunde Dawodu, Chief Compliance Officer and Head, Compliance & Control started his banking career in 1996 with Guaranty Trust Bank where he worked in Branch Operations. He was until recently Managing Partner for BILD professional services. Tunde possesses over 18 years valuable banking experience. He holds a B.Sc. Degree in Finance from the University of Lagos, Nigeria. He is an Associate Member of the Institute of Chartered Accountants of Nigeria (ACA), Associate Member of the Chartered Institute of Bankers of Nigeria (ACIB), Associate Member of the Chartered Institute of Taxation of Nigeria (ACTI) and an Associate Member of the Nigeria Institute of Management (AMNIM).

Lagos, September 16, 2019 - Ecobank Nigeria says over 100,000 merchants have been on-boarded on the EcobankPay platform with transaction value reaching N2billion. EcobankPay offers customers a multi-channel payment experience that includes Mobile QR Payment at merchant stores (mCash, Masterpass and mVisa), Merchant QR is set up via Facebook Messenger as well as USSD payment for low-income phone users. EcobankPay is used by all businesses from small, informal micro merchants to large corporates as well as governments. It enables them to offer easy and convenient payment options to their customers in-store or online.



EcobankPay’s unique offering is such that all bank customers in Nigeria can pay with Masterpass, mVisa, and mCash with any phone by scanning the QR code or using USSD at merchant locations. It is free to set up, as the shop owner only needs his/her QR code and phone for notifications to start receiving quick and easy payments. Additional offerings include instant settlement of transaction with no transaction fees and it supports domestic and cross border transactions.



Announcing this development in Lagos, Carol Oyedeji, Executive Director, Commercial Banking, Ecobank Nigeria, said she was impressed with the level of acceptance of EcobankPay service by Nigerians. She reiterated that the digital product was introduced into the financial landscape to enhance payment and create ease and convenience of transactions. “The performance of EcobankPay underscores the choice of Ecobank in bringing digital payment solutions for safe, reliable and convenient transactions to both customers and non- customers of the bank. The EcobankPay channel offers a distinct advantage of supporting the three main payment schemes, Masterpass, mVisa and mCash thereby broadening acceptability regardless of which Bank a client makes payment from. The QR Code is much cheaper than having a point of sale (PoS) terminal and credit to the merchant is instant, she noted.





In his comment, Patrick Akinwuntan, Managing Director, Ecobank Nigeria said “we are determined to make Ecobankpay the choice for instant digital payment in Nigeria. This payment solution was introduced by Ecobank to create payment convenience for goods and services and also to support the growth of businesses especially SMEs.



Further, he reiterated that “Ecobank is impressed with the significant progress made on EcobankPay transactions, as it is gradually becoming a lifestyle payment for all. The initiative is to deepen financial inclusion in the communities and specifically aid business transactions between merchants and clients by eliminating the risk of payment rejection. Ecobank has so far set up EcobankPay Zones in over 50 locations in different parts of the country. These are digital hubs enabling businesses within a location adopt Ecobank’s wide range of digital products for ease of payments for goods and services. The payment options at the zones include EcobankPay, Xpress points, Automated Teller Machines (ATMS) and Point of Sale (PoS)”. he noted.



The EcobankPay Zone launched in February 2019 is available at various markets across the country, notably the Alaba International markets, International Trade Fair, Balogun Market, Saka Tinubu Market in Lagos; Relief market Onitsha, Ariaria Market both in South East; Kofa Ruwa and Kantin Kwari Market in Kano; Wuse and Dei-Dei Market Abuja ; Phone Village, Port Harcourt, New Benin Market in Edo State and Main Market Warri amongst several others.

As an indication of its commitment to support entrepreneurial ideas and creativity, Ecobank Nigeria has appointed Tin a roadside roasted plantain seller, as brand ambassador.



The story of Tina is that of an enterprising and industrious spirit of a typical Nigerian. She was in the category of the ‘certified’ jobless Nigerian youths, but today, her story is an inspiration to many.



Tina is a graduate. Nigeria’s economic situation constrained her, but she refused to be conditioned.

After school, she took up a seemingly demeaning business. She opened a kiosk, selling roasted ‘Boli’ by the roadside in Calabar.



Tina was not ashamed of her ‘local business’ as people see it, and just like all the other regular traders who advertise their products on social media, she also brought her ‘Boli’ business to the online community, by posting every detail of her business on her Facebook page.



Tina’s local style of wearing a nylon as headgear and gloves, drew attention of until some blunt commentators, who advised her to upgrade her packaging by using a fine apron and gloves to make her look more attractive. Tina heeded and subscribed to packaging. She also registered her business with CAC, and became certified with a business name - TJ boleries.



Soon after, Tina started receiving contracts and calls from different states across the country. She’d travel to states like Lagos, Portharcourt to prepare roasted ‘Boli and fish’ at weddings and different ceremonies. She became well-known by the big names in her community. She was given an award by the youths in her community for sustaining entrepreneurship in the society.



Soon she was on various blogs, who found her inspiring and shared her story online. She drew the attention of Channels Tv, who interviewed her and motivated everyone with her story. She was also invited by Hit Fm, a radio station in Calabar, who also made her inspire others with her story.



Cross-River State Governor, Ben Ayade was impressed by her story and supported her with N 2Million naira, to grow her enterprise. Tina has not relented in her effort despite the success as she’s still actively involved in roasting ‘Boli’ and telling her story to inspire others.

Ecobank Nigeria did not disengage its staff. The bank decided not to renew the contract of its third party recruitment agencies which expired recently and as such returned this category of personnel back to these agencies who are their employers.

As a demonstration of the Bank’s concern and compassion for the affected personnel of our contractors, palliative measures were put in place by the Bank to cushion the effect on them: These include payment of contract cessation packages of over half a billion Naira already paid through their employers as well as opportunity given to those with requisite qualification to apply to the Bank for permanent employment.

In addition, the Bank has offered them the opportunity to become Xpress point agents of Ecobank as a way of further providing them entrepreneurial and financial empowerment.

May we state that Ecobank is not obligated to renew its contract with the service providers involved.

As part of the Bank’s business strategy, the bank is investing in the employment of full time graduates and as such over 300 graduates are currently undergoing training at the Bank’s state of the art Academy which was recently accredited by the Chartered Institute of Bankers of Nigeria. They are to be absorbed into the system at the end their training as permanent staff.

The Bank would continue to align its people composition, development, recognition and rewards to position us as best practice service model in the industry, delivering superior customer service and experience across our network

Thank you

Ecobank Management

Ecobank Nigeria Academy is currently training 332 graduates in preparation for full employment into Ecobank Nigeria. The programme combines the three categories of Entry Level, Graduate and Management Trainees with a program duration of 2months, 12months and 21months respectively.



Ecobank’s Development Programmes are part of the Bank’s talent development strategy to continue to churn out excellently trained banking professionals at various levels of the industry to feed into her talent pipeline and the banking industry. They are founded on global best practice that prepare the candidates for banking careers in positions aligned with their potential, competencies and experience at the entry point of functional pre-managerial roles.



As part of this plan, 100 fresh graduates recently joined the Entry Level programme – a 2month training ground for fresh graduates to prepare them to join the Bank’s workforce at the entry point and rapidly gain experience to rise through the ranks. These graduates will be exposed to classroom training, action learning as well as valuable mentorship to quickly prepare them for full employment in the Bank.



In keeping with its talent development strategy, the first batch of 25 Graduate Trainees who recently passed out after 12 months of intensive capacity enhancement training have since been offered full employment with Ecobank Nigeria. Their training combines classroom, on–the-job, book reading and action learning models which provides the candidates with global exposure and ability to compete internationally.



In his comment during the graduation ceremony, the Managing Director, Ecobank Nigeria, Patrick Akinwuntan congratulated the graduands and encouraged them to keep their vision of getting to the top of their career. According to Mr Akinwuntan, the Trainee programme initiative is part of Ecobank’s transformation agenda to make the bank a most preferred financial institution in the country.



“This programme is our own way as a bank to invest in creating future leaders for the Nigerian banking industry. We are investing in the people to accomplish our vision both as a bank and a country. A key success factor of any bank is capital; and we must therefore train those who will be empowered to oversee this capital and put it to good use in the interest of depositors and investors. Staff of banks must be well trained and knowledgeable so that they can ensure that funds in the banks are effectively deployed. For us at Ecobank, we must also ensure that we deliver on our promise as a financial institution of choice not only in Nigeria, but the whole of Africa. We therefore take the development of adequately trained manpower as a “must do” in striving to achieve our goals”.



Mr Akinwuntan also stated that Ecobank deploys top notch technology and innovation which are the platforms needed to drive its vision to be a leader in the provision of financial services across Africa. In his words, “we provide full service banking right from the wholesale business to the small, medium scale and to individuals. To do this, we’ve built technology services that enable us deliver our services in a convenient, accessible and reliable manner. This is affordable and sustainable to our customers, while also ensuring good returns to our shareholders”.

CFA Institute To Partner Ecobank on Training, Research

The Chief Executive and President Chartered Financial Analyst (CFA) Institute, Paul Smith has called for a closer collaboration with Ecobank Nigeria along areas of mutual interest in the nation’s financial industry. Smith who was speaking during a courtesy visit to Management of Ecobank Nigeria in Lagos on Friday, said its call is predicated on the pedigree and antecedents of the Bank in the financial industry.

According to him, the partnership would further explore research, training and professional development. "We also want to deepen and strengthen our collaboration with Ecobank to expand our reach across the various regional blocs in the Sub-Saharan Africa region."

While commending Ecobank for its support to its member. CFA Society, Nigeria over the years, he emphasized that the CFA Institute stands for creating a financial environment where clients' interests come first, markets function at their best, and economies grow.

Responding, Managing Director, Ecobank Nigeria, Patrick Akinwuntan, lauded the visit and assured that the Bank is ready to collaborate more with the Institute to further develop the financial sector in Nigeria and across Sub-Saharan Africa. He commended the organization’s sterling activities in growing the ethical and professional practice of financial services in Nigeria, Africa and across the world.

He intimated the CFA team of the various strategic initiatives of the Bank which are aimed at establishing world-class learning and development platforms for its staff, one of which led to the recent accreditation of Ecobank Nigeria Academy by the Chartered Institute of Bankers of Nigeria (CIBN).

In his remarks, the Head of Strategy, Ecobank Nigeria, Unwana Efiong Esang noted that the desire to deepen and expand collaboration between the Institute and the Bank is a welcome development especially at a time the financial services industry is experiencing a profound paradigm shift in its business and operating models. He further stated that such partnerships between global and Pan African financial industry stakeholders will go a long way in enhancing financial services practice and also help in sustaining the relevance and quality of service of the banking system far into the future. He restated Ecobank’s strong positive disposition towards actualising the several collaborative options and models available to both organisations

Also speaking, President of CFA Society, Nigeria, Banji Fehintola commended Ecobank for its support of its activities over the years and expressed the Society’s willingness to fully take advantage of the several partnership initiatives of the Bank in Nigeria and across Sub-Saharan Africa.

Ecobank Nigeria Enters Strategic Partnership with NIRSAL; Announces N70bn Agriculture Financing Scheme

Ecobank Nigeria has entered into a strategic partnership with Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending (NIRSAL) with a N15 billion agricultural investment scheme being the first tranche in agricultural value chain financing.

The partnership between both institutions is in line with the Central Bank of Nigeria (CBN)’s request that banks provide more funding to the agriculture sector. NIRSAL was set up by the Federal Governmental as an innovative mechanism targeted at de-risking lending to the agricultural sector. It is designed to provide the singular transformational and one bullet solution to break the seeming jinx in Nigeria’s agricultural lending and development.

Announcing the partnership in Lagos during a business meeting with the management of NIRSAL, Managing Director, Ecobank Nigeria, Patrick Akinwuntan also disclosed that Ecobank Nigeria had concluded plans to invest at least N70 billion in agriculture financing within the next three years. He noted that the N15 billion dedicated funding with NIRSAL guarantee is for an initial takeoff tranche and rollovers will be done at the completion of each cycle.

“Agriculture is pivotal to the success and development of any nation’s economy. We are therefore committed to working with NIRSAL to open up the vast opportunities that abound in agriculture. Ecobank has done it in other countries across the continent, so we can do the same in Nigeria. This will give us the opportunity to create employment and enable farmers to finance their children’s education with ease. We prefer people to see us not just as a bank, but as a partner who will help them succeed. We are part of the community and we meet the people at the point of their needs.” he noted.

Further, Mr Akinwuntan noted that with a larger African footprint than any other bank in the world operating in West, Central, East and Southern Africa, Ecobank is the only bank that spans 36 African countries yet operates a truly integrated African network.

“Ecobank’s unique and largest pan-African platform is designed to help unlock the opportunities of the continent and for the continent, through standardization, fuelling regional integration, trade and investment across borders. Due to our sterling performance, we have been severally recognized; Most recently as ‘Best Retail Bank in Africa 2019’ at African Banker Awards and also as Most Admired Financial Services Brand in Africa 2019 by Brand Africa 100”.

In his remarks, the Managing Director/CEO of NIRSAL, Mr. Aliyu Abdulhameed urged the bank to harness the opportunities available in financing the agricultural sector leveraging on NIRSAL’s template of geo-cooperatives of 250Ha with a ticket size as much as N65 million naira, where all the players in the agricultural value chain are locked-in with an end-to-end approach and near zero cash handling system under a de-risked ecosystem to optimize agricultural value chain financing. He stated that this unique approach to agribusiness creates value for both farmers and financiers.

According to Abdulhameed, “At NIRSAL, we work primarily to create value for both financiers and farmers. It is in view of this that we have created innovative tools, techniques, methodologies and established strategic partnerships like this, to create a symbiotic relationship between all actors along the Agricultural value chain.”

The CBN led by Governor Godwin Emefiele has been at the vanguard of investment in Agricilture as a key contributor to the country's economy.

It would be recalled that President Muhammadu Buhari had recently sought the collaboration of Ecobank Group to “institute a special fund to develop agriculture, which will cement its legacy as a bank that helped to transform this region’s economic fortunes. President Buhari spoke when he had an audience with the ETI board led by the Group Chairman, Emmanuel Ikazoboh.

London, 7 June 2019 – Following its successful $500 million Eurobond issuance, Ecobank Transnational Incorporated (‘ETI’), the Lomé-based parent company of the Ecobank Group, was hosted by the London Stock Exchange to a market opening ceremony to celebrate the successful listing of the Eurobond on the London Stock Exchange (LSE) main market.

The bond was oversubscribed with strong demand from international investors in the United Kingdom, United States, Europe, Middle East, Asia and Africa. It follows on from Ecobank’s 2017 convertible bond issuance on the International Securities Market.

The five-year senior unsecured notes, which mature in April 2024, were launched with a coupon interest rate of 9.50 percent per annum payable semi-annually in arrears.

Ade Ayeyemi, Group CEO of Ecobank said: “The successful issuance of our inaugural Eurobond on the main London market demonstrates international investors’ approval and confidence in Ecobank’s long-term strategy and prospects as a strong and sustainable pan-African financial services institution. It also demonstrates the ability of African corporates to access international capital markets.”

Ayo Adepoju, Acting Group CFO of Ecobank commented: “Ecobank places great emphasis on constantly reviewing our capital allocation strategies to ensure that we have the right strategic positioning, competitive advantages, products and resources to increase efficiency and profitability. Our access to international capital markets are part of the mix and enable us to boost our liquidity profile, refinance maturing facilities and strengthen our foundations to ensure long-term sustainable growth and profitability for all our stakeholders.”

ETI will use the net proceeds of the placement for general corporate purposes including the refinancing of maturing debt facilities.

Members of the ETI board and management attended the London Stock Exchange on 7 June to celebrate the successful issuance of the bond.

The ETI Specialized Resolution Company Ltd (ESRC) which took over the disputed Honeywell loans is set to appeal the judgement delivered by Justice Ayokunle Faji of the Lagos Federal High Court, on the protracted N5.5 billion legal suit between Honeywell and Ecobank. The ETI Specialized Resolution Company Ltd (ESRC), a Recovery resolution vehicle of the Ecobank group will fully prosecute the appeal as it strongly disagrees with the decision of the court. The main purpose of ESRC is to pursue and recover all outstanding loan obligations of customers whose loans were sold to the company. It has indeed made appreciable progress in this regard.

The suit, which was filed by Honeywell Flour Mills Plc, and its sister companies; Anchorage Leisures Ltd and Siloam Global Limited, against Ecobank urged the court to hold that they are not indebted to Ecobank, having paid N3.5 billion based on a concession purportedly given by the Bank.

Justice Faji in his judgement delivered on Friday May 31st, 2019, ruled that since Honeywell paid in line with the agreement reached at the meeting of December 2013, it is no longer indebted to Ecobank. ESRC said it will appeal the judgement as same did not take into consideration salient facts put before the court. In the view of ESRC, a debtor should be made to pay its full debt having failed to pay as and when agreed.

A spokesperson for ESRC said that the company will pursue recovery of the debts owed by the Honeywell companies to the logical conclusion through the courts, as return of depositors’ funds is key to ensuring the sanctity of agreements and viability of continued support and growth of local businesses by Banks.

Lagos, May 16, 2019 – EcobankPay, the lifestyle digital payment and collections service of Ecobank Nigeria leads the pack as the bank takes its financial inclusion campaign to higher institutions of learning across the country. The Digital Campus campaign is making available digital banking platforms to students, teachers, other workers and businesses within campuses enabling them transfer and receive funds easily, engage in cardless withdrawals from ATMs and make payments with EcobankPay using their mobile phones. EcobankPay which enables convenient and stress free digital payment is accompanied by Xpress pay point which facilities seamless transactions.

Commenting on why the bank decided to embark on the campus campaign, Ecobank Nigeria’s Head, Consumer Banking, Ayodele Osolake, said “the last edition of this campaign has warmed us more to the students, lecturers and other workers on the campuses visited, as they are now able to do banking just with their phones. This has eased the entire banking process for them, whether they are opening accounts, sending and receiving money, paying school fees or withdrawing cash without cards through the Ecobank Xpress cash. Parents and guardians are now able to transfer money to their children’s Ecobank accounts, which they can withdraw without a debit card at any Ecobank ATM (using Xpress Cash) or Xpress Point”.

“We feel it will be a disservice not to reach other campuses not visited during the first edition. Showcasing our various digital products to an increasingly digital audience is a perfect match; they will find it much easier and simpler to transact remotely, thus meeting up with their financial and lifestyle needs, without having to walk into a bank branch. We are committed to visiting all institutions of higher learning in Nigeria; all stakeholders within these systems will benefit from our pervasive digital banking services. This edition is special as we plan to make all the campuses visited EcobankPay zones as all shop owners within the campuses will be encouraged to adopt the payment solution. EcobankPay is free to set up as the shop owner only needs his/her QR code and phone for notifications to start receiving quick and easy payments. EcobankPay’s unique offering is that anyone from any bank in Nigeria can pay with MasterPass, mVISA and mCASH with any phone by scanning QR code or using USSD. If the person that wishes to buy goods is coming from a bank that has mVisa and wishes to pay, the same QR Code would accept mVisa payment and vice versa. That creates convenience for the merchants. The QR Code is at no cost”.

She also announced that during the activations the bank will set up free WiFi centres tagged the ‘Xpress Corner’, which will give the students free internet access and also afford them the chance to win exciting prizes. “We were highly impressed with the turnout of students during the last edition, and they in turn were so happy to find out about our products and services, they were keen to open Ecobank Accounts. We are a youth-friendly bank and must arm our youth with a key ingredient for success in life which is financial know-how .Our activation seeks to empower young people by offering them convenient, affordable and accessible financial services anytime, anywhere from their mobile, which is their primary mode of communication.

The Ecobank campus activation train is already at the Obafemi Awolowo University Ile-Ife and will subsequently storm 12 other campuses, including University of Benin, Tai Solarin University in Ogun State, Federal University of Technology Minna, Ahmadu Bello University and Federal College of Education both in Zaria, University of Ibadan, and the Bayero University in Kano amongst other top institutions across the country.

May 14, 2019 - Ecobank Nigeria has announced that residents in Lagos should take used plastic materials, especially soft drink and water bottles amongst others to its head office on Victoria Island and exchange them for cash being part of activities of the bank to removes non-biodegradable materials from the environment as part of its sustainability week that started Monday and will run till Friday the 17th, May.

In a media message the bank stated that it targets to remove at least four million used plastic bottles from the streets and drains of Lagos through this initiative.

Other activities lined up for the week include a symposium for secondary school students in Lagos, Abuja and Port-Harcourt to teach the students lifestyles that exemplifies and encourages sustainability.

According to the message, Ecobank is a brand that is committed to sustaining the environment for all. Its sustainability activities is part of the universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity.

Lagos, May 13, 2019 – Ecobank Nigeria has announced the return of its financial inclusion and youth engagement tour across tertiary institutions in the country. This campus tour is geared at educating students about the various digital products available to them and encouraging easy adoption of these channels in a fun and exciting manner

Announcing the commencement of the second phase of the campus activation campaign, Ecobank Nigeria’s Head, Consumer Banking, Ayodele Osolake, said the activation train will berth at the Obafemi Awolowo University Ile-Ife during the new week and subsequently storm 12 other campuses, including University of Benin, Tai Solarin University in Ogun State, Federal University of Technology Minna, Ahmadu Bello University and Federal College of Education both in Zaria, University of Ibadan, and the Bayero University in Kano amongst other top institutions across the country.

According to Ayodele Osolake, Ecobank Management decided to continue with the digitization drive on campuses following the successes achieved during the last episode of the campaign, when thousands of youths were successfully boarded on the Ecobank digital platforms. “Showcasing our various digital products on offer to an increasingly digital audience is a perfect match; they have found it much easier and simpler to transact remotely, thus meeting up with their financial and lifestyle needs, without having to walk into a branch”.

“We are committed to visiting all institutions of higher learning in Nigeria with our engagement drive, so that all stakeholders within these systems will benefit from our pervasive digital banking services. I must say that the last edition of this campaign has warmed us more to the students, lecturers and other workers on the campuses visited, as they are now able to do banking just with their phones. Whether they are opening accounts, sending and receiving money, paying school fees and withdrawing cash without cards through the Ecobank Xpress cash. Parents and guardians are now able to transfer money to their children’s Ecobank accounts, which they can withdraw without a debit card at any Ecobank ATM (using Xpress Cash) or Xpress Point.

Further, she said during the activations the bank will set up free WiFi centres tagged the ‘Xpress Corner’, which will give the students free internet access and also afford them the chance to win exciting prizes. “We were highly impressed with the turnout of students during the last edition, and they in turn were so happy to find out about our products and services, they were keen to open Ecobank Accounts. We are a youth-friendly bank and must arm our youth with a key ingredient for success in life which is financial know-how .Our activation seeks to empower young people by offering them convenient, affordable and accessible financial services anytime, anywhere from their mobile, which is their primary mode of communication.

So Sorry about this sir, a similar issue like this has happened to my cousin and this is as a result of system error. Kindly go to your nearest branch and all this issues will be rectified or call Ecobank Customer Care Hotline on 0700 500 0000! cheers.

peacemara54:
Good evening Nairalanders. Am really having a big hard time with Ecobank. I don't understand this bank. I register with this bank, far back, 2013. It has been 6years now. This problem started last year but I just continue to manage and endure their poor services coupled with bad customer-care relation.

As a business man, I do receive deposit into my acct almost everyday. I noticed, I do receive alert but this alert keep deducting my balance with a shortage of 40,000. For example, Acct balance is 100,000. I receive a deposit of 20,000 and the total balance should be 120,000 but Ecobank will send alert of #80,000.

Have complained, times without number still, no visible solution. The worst part of this is that; my statement of acct keep showing the accurate balance am having but for alert messages, 40,000 always deducted. And I can't withdraw more than what I receive through alert not what is in my acct balance. I still don't understand why a whole pan Africa bank will continue to handle customers transactions this way and they seems not to have a solution to this problem at the moment.

All deposit to my account normally takes two days before Ecobank effect this deposit.

Now, am having 26000 in that account. I can't even withdraw this money. I complain to my bank. I was told my balance is 1, 375.00 My statement of acct, shows 26000 as at yesterday and this bank keep telling me I can't withdraw due to insufficient balance.

I will get this money with any legal means known to me. Even though , its small but I won't leave it with Ecobank

Ecobank is really bad. They can't handle multiple deposits without a mistake in the acct balance..

Am out to get my money by fire by force.

Alright i'm very sure they will resolve your issues!!!

casted81:
Eko bank is not my bank. What are the chances


Will give them a call sha

Eiya So sorry about this, if Ecobank is your bank why not walk up to the bank tellers there or simply call their Customer Care Hotline on 0700 500 0000. Goodluck

casted81:
I used an ecobank ATM while going back home from work yesterday, and I found this among the notes 'vomited' by the machine.

Pls how do I get a replacement.


Has anyone experienced this before?


*
Pardon me for posting here, I couldn't find the best section to post this.

Ecobank Nigeria Limited has announced special discount for shoppers using the EcobankPay option to pay for their goods and services during the Easter holidays and will run to the end of April 2019.

EcobankPay is a digital QR code/ Unstructured Supplementary Service Data (USSD) that enables payments using the mobile phone, without the need for a debit/credit card. “When you sign up, your EcobankPay QR is emailed to you, which you can print and post/stick it anywhere your customers can see it to easily scan and pay. When paid, you receive notifications and transactions can be viewed in merchant app or online and most especially your account is credited immediately . Your customers can now pay you from anywhere in Nigeria and around the world, anytime. Your customers can use the Ecobank Mobile App or other bank’s mobile app to pay with MCash, MVisa and Masterpass.”

Announcing the Easter promotion in Lagos, Carol Oyedeji, Executive Director Commercial Banking said shoppers are to get special discounts in shops in Lagos, Abuja, Port Harcourt, Benin, Warri, Aba and other cities across the country where the EcobankPay QR code is on display. Explaining the accessibility of the EcobankPay QR code, she noted that it accepts all three payment platforms available, be it MasterPass, MVisa and MCash.

“Also, the discounts are available at all EcobankPay zones. If the person that wishes to buy goods from you is coming from a bank that has MVisa and decides to pay, the same QRcode would accept MVisa payment and vice versa. This creates synergy between us and the other banks and convenience for the merchants. And as you know, the QR code is much cheaper than having a point of sale (POS) and your account is credited immediately,” she stated.

For the merchants she said “the beauty of the EcobankPay, is in the cost of set up, as the shop owner simply print the QR code on a paper and can stick it anywhere and do not face any risk. It is convenient and the mobile app allows the ubiquity. It allows you 24/7 access. We cannot over emphasis the instant credit”

Ecobank has recently launched several EcobankPay zones in various markets across the country. The EcobankPay Zones are digital payment hubs enabling businesses within a location adopt Ecobank’s wide range of digital products for ease of payments for goods and services. It provides the opportunity for both buyers and sellers to increase their sales in an enhanced and secured way.

The EcobankPay digital hub/markets makes it easy for the seller to be paid instantly while buyers pay with ease and also have peace of mind associated with doing business without carrying cash around. Also available at the payment zones is the Xpresspoint which allows customers do their banking transactions within their neighbourhood and non-customer open accounts on the go in as much as they have their phones.

The initiative of the Ecobankpay zone is to deepen financial inclusion in the communities and specifically aid business transactions between merchants and clients.

Traders at the popular Ladipo Spare Parts Market in Lagos have commended the versatility of the EcobankPay platform which they say enables easy and instant payments from their customers. Some of the traders who were part of an event to launch the EcobankPay Zone at the market testified that the EcobankPay initiative is timely and revolutionary in supporting small businesses.

In his testimonial Livinus Ngwu, a spare part dealer in Ladipo market said “this product has created an ease of transaction in the market place, I personally recommend it to my customers. Imagine some of them that use to carry huge cash to buy full engine for instance, can now simply scan with their phone and one time I receive payment. EcobankPay is indeed the solution we have been waiting for.”

Ngwu, who demonstrated how to pay for goods with the QR code through scan and pay, urged traders in the market who are yet to adopt the innovative payment solution to do so without delay in order to boost their business. “I am happy with the use of EcobankPay by my customers since I started using it about three months ago. Customers as far as Aba, Onitsha order for my goods and make payment with the QR code. This is really enhancing my business. No more delays in payment.”

In his comment, the Managing Director, Ecobank Nigeria, Patrick Akinwuntan said the EcobankPay zone was initiated to facilitate easy, secure and convenient transactions for merchants within the markets. The EcobankPay Zone, he reiterated is a digital payment hub enabling businesses within a location adopt Ecobank’s wide range of digital products for ease of payments for goods and services.

“Our digital offering will be an opportunity for both buyers and sellers to increase their sales in an enhanced and secured way and without fear. The EcobankPay digital hub makes it easy for the seller to be paid instantly and buyers pay with ease and also have rest of mind associated with doing business without carrying cash around. Also available is the Xpresspoint which allows customers do their banking transactions within their neighbourhood and non-customer open accounts on the go in as much as they have their phones.

“The initiative of the Ecobankpay zone is to deepen financial inclusion in the communities and specifically aid business transactions between merchants and clients. EcobankPay’s unique offering is that anyone from any bank in Nigeria can pay with MasterPass, mVISA and mCASH with any phone by scanning QR code or using USSD. if the person that wishes to buy goods from you is coming from a bank that has mVisa and wishes to pay, the same QRcode would accept an mVisa payment and vice versa. That creates synergy between us and the other banks and convenience for the merchants. And as you know, the QRcode is much cheaper than having a point of sale (PoS)”.

Mr Akinwuntan who was represented by Group Head, SME, Ecobank Transnational Incorporated (ETI), Patrick Egounlety said the EcobankPay Zone is an Ecobank strategy to take financial inclusion to various market clusters across the country to facilitate easy, secure and convenient transactions in the market place. So far, the EcobankPay Zone has been launched in Alaba International Market, Saka Tinubu GSM Plaza, Popular Oluwole- Lagos Island Market, Relief Market, Onitsha, Ariaria Market in Aba, and several other around the country.

You are welcome sir! Don't worry they will definitely resolve the issue soonest! just be patient.

UNITEDBRAND:
Thank you Sir for for reaching out.... I have contacted their customer service group of both on twitter, chatting and I have been to their branch to complain.... All to no availed.

Dont worry my brother they will definitely resolve the issue soonest! just be patient.

UNITEDBRAND:
Thank you Sir for for reaching out.... I have contacted their customer service group of both on twitter, chatting and I have been to their branch to complain.... All to no availed.

My brother why not call the customer care number on 0700 5000000. they will resolve your complaints.

kenny1795:
ecobank na scam.... dumbed them long time ago. imagine going to 5 branches in owerri and 4 in aba and non of them were issuing ATM card. can you imagine??

My brother, issues like this do occur most times but i believe its as a result of network problem! why nor reach them directly on their customer care hotline 0700 500 0000 and i believe it will be resolved immediately!

presidentpikin:
I will want us to discuss an important issue that affecting a lot of Nigerians but because there is no standardized financial law in Nigeria it makes most of this bank misbehave and they believed nothing can be done after they might have trampled on ones financial right.
5 Days now Ecobank debited my dollars account without remitting to the appropriate quarters and the money was not returned to my account rather in the ledger balance I cant access the money.The application payment is deadline oriented. Ecobank did not bother to refund my money for the past 5 days after several calls to their customer service and visit to the branch office all to no avail.
How I wish we have a strong law in NIGERIA that can address this kind situation or if you know any please contact me.From my observation ECOBANK is the worst bank in Nigeria there is no doubt about it. my career is been threatened because of their selfish interest.
laslastica and Mr Seun...please lets move to front page to expose the frustration most of this bank made their customer to pass through everyday and how we can curb their excesses....#worstbankinnigeria