Stanbic IBTC, NEM, Zenith, STI, Ecobank, KBL for Business Journal Fintech Roundtable 2025 - ITREALMS

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As the countdown begins for the 2nd Business Journal Fintech & Financial Inclusion Roundtable 2025 coming up on Friday, August 29, 2025 at Oriental Hotel, Lekki Road, Lagos, corporate titans have continued to support the event in terms of corporate sponsorship.

The event comes with the theme: Fintech & Financial Inclusion: The Opportunities & Challenges for Nigeria by 10am.

Akinwuntan apologises to customers over Ecobank upgrade disruption - ITREALMS

 ITREALMS:

The managing director of Ecobank Nigeria, Mr. Patrick Akinwuntan has apologized to customers over disruptions that occurred due to upgrade of core banking and online banking platforms, reports ITREALMS.

The bank MD in a letter to Ecobank customers in Nigeria and made available to ITREALMS, he expressed excitement for the support during the time and of these upgrade.

“During the period our ATMs, Cards, and Mobile App were available for use, however, we experienced some post migration issues which affected transfers in and out of the bank and have now been mostly resolved,” he said.

Akinwuntan also said “Once again, I apologise for any service hitches experienced dueinf the upgrade and appreciate your commitment and partnership with Ecobank.”

Chuks Egbune/GEE

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Ecobank shareholders approve all resolutions @2018 AGM

ITREALMS: The parent of Ecobank Group, Ecobank Transnational Incorporated, with operations in 36 countries across the African continent, has concluded its 30th Annual General Meeting in Lomé, Togo, Wednesday with shareholders approving all the resolutions, reports ITRealms. Shareholders welcomed Ecobank’s return to profit for the year to 31 December 2017 as they approved all the resolutions at the AGM, which included the ratification of the co-option of Messrs. Monish Dutt, Brian Kennedy and David O’Sullivan as Directors. They are nominees of the International Finance Corporation, Nedbank Group and Qatar National Bank respectively. The firms Deloitte and Touche, Nigeria and Grant Thornton Côte d’Ivoire were re-appointed as Joint Auditors for a one-year term. Ecobank Group Chairman Emmanuel Ikazoboh said: “Ecobank enjoyed a return to profitability in 2017 as the strengthening of underwriting and risk management processes began to address our legacy credit issues. There were substantial improvements in the financial performance of our Consumer Bank and Corporate and Investment Bank divisions and the Board is confident that the foundations are now in place to enable the sustainable growth that will create shareholder value throughout Ecobank.” Ade Ayeyemi, Group Chief Executive of Ecobank Group, said: “Our digitisation strategy is rapidly yielding results that are putting Ecobank firmly on its path to becoming the digital bank of choice across its pan-African territories. Additionally, having ‘right-sized’ the business and ‘fixed the basics’, Ecobank is leveraging its inherent strengths as middle Africa’s leading financial platform to the benefit of all its stakeholders as a strong and sustainable bank as it promotes economic development and financial integration across the African continent.”

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Ecobank launches mVisa across 33 African countries

ITRealms:

The West African bank, Ecobank has partnered with Visa to launch its Scan+Pay with mVisa solutions to their consumers, reports ITRealms.

The strategic tie-up signals interoperability on a cross border level – and potentially huge gains – as it affords consumers with the ability to use their mobile phone to directly access the funds in their bank accounts to pay person-to-merchant (P2M) or person-to-person (P2P).

Ecobank Scan+Pay with mVisa delivers instant, secure cashless payment for goods and services by allowing customers to scan a QR code on a smartphone or enter a unique merchant identifying code into either a feature phone or smartphone. The payment goes straight from the consumer’s bank account into the merchant’s account and provides real-time notification to both parties. This serves to accelerate digital commerce and combat some of the challenges merchants have faced using traditional point of sale systems, including the cost of installation coupled with the requirement of electricity and internet connectivity.

Ecobank mVisa solutions also enable customers to send money instantly to any Visa cardholder worldwide. This is a major innovation that serves the need of Africans in the diaspora by enabling them to simply link their Visa card to the Ecobank unified mobile app to send money home to another Visa cardholder quickly and securely.

“We are fulfilling our commitment to give every African the right to participate effectively in the global economy at an affordable price and in a convenient manner. Ecobank Scan+Pay with mVisa helps merchants – particularly small and micro merchants – to grow their sales without the risks of carrying cash whilst also giving consumers the ability to pay for goods and services in a cashless manner from their phones. Consumers can also conduct person-to-person payments and instantly transfer money to their friends and family via their phones at very low cost,” said Ecobank Chief Executive Officer Ade Ayeyemi.

The partnership demonstrates both Ecobank and Visa’s continued commitment to provide financial services to the banked and unbanked in Africa by leveraging digital platforms to offer convenient and affordable payment mechanisms. 

Andrew Torre, President for Visa Sub-Saharan Africa said, “We are glad to partner with Ecobank to bring mVisa into the market, a mobile payment solution with real benefits to drive digital transformation backed by advantages of Visa’s global network - security, reliability and global acceptance, allowing consumers to make payments both domestically and internationally.”

Patrick Akinwuntan, Ecobank Group Executive Consumer Banking, pointed out that the Ecobank mVisa solutions rollout significantly strengthens the banks person-to person payments capabilities. “Bringing this added functionality on our Ecobank mobile app connects families in Africa by delivering needed funds instantly anywhere, anytime. That’s real value to our customers,” he said.

Ayo Midele/GEE

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