The disclosure, filed by Access Holdings Plc, with the Nigerian Exchange, signals a leadership transition within one of Nigeria’s largest banking groups, as Okoli concludes a career defined by strong influence in retail banking and SME growth.

Okoli joined Access Bank in 2019 as Executive Director and rose to the role of Deputy Managing Director (Retail South) in 2022.

During her tenure, she played a key role in expanding the bank’s retail footprint, deepening customer acquisition, and strengthening offerings targeted at small and medium-sized enterprises across its markets.

Her exit comes as part of a planned transition following the completion of her term, according to the company.

In a statement, the Board of Access Holdings commended her contributions, noting that her leadership helped drive retail strategy and business development initiatives across the bank’s operations.

With nearly three decades of banking experience, Okoli’s career spans commercial, corporate, and institutional banking, having started at the defunct Diamond Bank before its merger with Access Bank.

While the group has yet to name a successor, her departure adds to ongoing executive-level changes within Nigeria’s banking sector as institutions reposition for growth, digital transformation, and evolving customer demands.

The post Chizoma Okoli Exits Access Bank Plc as DMD appeared first on Tech | Business | Economy.

As commerce increasingly transcends national borders, the demand for seamless, reliable cross-border transactions has intensified.

In response, Verve has launched a deliberate continental expansion under its Destination Campaign, positioning itself not merely as a domestic card scheme, but as a pan-African payments enabler.

With over 100 million cards issued, Verve has achieved significant scale within domestic markets. The next phase focuses on enhancing interoperability across African corridors, with East Africa, particularly Kenya and Uganda, serving as the primary testing ground for this African Expansion Drive.

Vincent Ogbunude, managing director of Verve International, emphasized the strategic importance of African-owned payment infrastructure in facilitating cross-border commerce and reinforcing economic resilience:

“Africa’s economic potential depends on payments infrastructure that is designed for its unique realities. Verve’s expansion into East Africa goes beyond issuing cards, it is about creating a network of payment infrastructure that is secure, reliable, and purpose-built for the continent. By enabling entrepreneurs, SMEs, corporates, and everyday travellers to transact seamlessly across borders, we are ensuring that value remains within African markets, fostering economic integration, and demonstrating that Africa can build world-class financial systems from within.”

The choice of East Africa is highly strategic. The region’s mature digital banking ecosystem, robust regulatory frameworks, and vibrant commercial networks provide an ideal environment to validate cross-border acceptance and infrastructure integration.

Verve’s expansion model leverages a hybrid advantage, combining the reliability and local alignment of a domestic scheme with growing cross-border capabilities.

This approach allows African markets to transact regionally without excessive reliance on external settlement systems.

Significant progress has already been achieved. Key issuing partners, including FCMB, Union Bank, Jaiz Bank, Taj Bank, and Access Bank, have enabled cardholders to use Verve cards confidently beyond Nigeria.

On the acquiring side, partnerships with KCB, Equity Bank and others are embedding acceptance across East Africa’s merchant ecosystem, strengthening the practical infrastructure required for seamless regional payments.

Cherry Eromosele, executive vice president, group marketing and Corporate Communications at Interswitch Group, highlighted the tangible benefits this expansion brings to consumers, businesses, and regional trade:

“Our vision is to contextualise payments for African realities. By extending Verve’s trusted domestic infrastructure into East Africa, we are enabling consumers and businesses to transact across borders with the same convenience and security they enjoy at home. This expansion is not simply about issuing cards; it is about facilitating transactions and exchange of value, supporting regional commerce, and strengthening financial connectivity across the continent.”

Significantly, Verve has extended its reach beyond financial institutions to secure real-world merchant acceptance. Cardholders can now transact seamlessly at Kenya Commercial Bank ATMs and POS, prominent lifestyle and hospitality destinations, including The Carnivore Restaurant, Tamarind Hotels, Tamarind Dhow, Roast by Carnivore, Kengeles, and Social House.

These channels and venues serve as strategic touchpoints within the continent’s business and tourism ecosystems.

By ensuring acceptance in high-traffic, high-visibility locations, Verve transforms payment infrastructure into a seamless, lived experience.

This expansion is not about scale for its own sake, it is about relevance, adaptability, and reinforcing Africa’s internal economic connectivity.

As trade corridors deepen and mobility across the continent grows, interoperable payments are becoming indispensable infrastructure.

Through its East Africa rollout, Verve demonstrates that Africa’s financial future can be powered by solutions designed and built from within for African realities and scaled to meet continental ambitions.

The post Verve with 100 million Cards Issued Targets East Africa Expansion appeared first on Tech | Business | Economy.

The transaction, valued at approximately R2.8 billion (₦245 billion), hit a “long-stop” deadline on January 26, 2026, without securing the final regulatory nod from the CBN.

While the termination marks a temporary setback for Nigeria’s largest lender by assets, leadership remains optimistic.

Access Bank MD Roosevelt Ogbonna reaffirmed the bank’s commitment to the Southern African market, noting that the group remains “constructively engaged” with stakeholders to find a potential path to closure.

The “Cardoso Factor” Sources indicate that the hurdle wasn’t with South African authorities but within the CBN’s rigorous vetting process.

Under Governor Olayemi Cardoso, the apex bank has prioritized process over commercial speed, ensuring that multi-jurisdictional deals comply with every facet of Nigerian banking regulation.

The Glimpse of Hope Despite the expiration of the current agreement, Bidvest Group has not shut the door entirely.

While they have relaunched the disposal process, they remain open to renegotiation if terms align. For Access Bank, the strategic intent to use South Africa as a gateway for the SADC region remains unchanged, signaling that this is a “strategic speed bump” rather than a dead end.

Source: ThisDay

The post Access Bank Bidvest Acquisition Update appeared first on Tech | Business | Economy.

With the surge in holiday shopping and travel, financial institutions across the country, including heavyweights like Access Bank, are warning customers that cybercriminals are currently working overtime.

Here is a breakdown of why that public connection is a “no-go” for your banking app and how you can stay protected.

The Invisible Thief: How it Happens

It feels convenient to check your balance or make a quick transfer while waiting for a flight or sipping coffee at a café.

However, cybersecurity experts warn that public Wi-Fi networks in airports, hotels, and restaurants are often unsecured.

Criminals use a technique called a “man-in-the-middle” attack. In simple terms, they position themselves between your device and the bank’s server.

While you think you’re communicating directly with your bank, the hacker is actually intercepting every piece of data you send, including your login credentials, PINs, and OTPs.

Why the Holiday Season is “Peak Season” for Fraud

Data from the Nigeria Inter-Bank Settlement System (NIBSS) shows that digital fraud losses already run into tens of billions of Naira annually.

These numbers typically spike during the Christmas and New Year period because:

• High Transaction Volume: People are spending more, making it easier for a single fraudulent transaction to get lost in the noise.
• Distraction: In the rush of holiday travel and celebrations, users are less likely to double-check the security of their connection.
• Social Engineering: Scammers pair technical hacks with “tempting offers” and urgent messages to trick users into lowering their guard.

Practical Tips to Protect Your Money

Banks are emphasizing that while they invest heavily in security infrastructure, the ultimate “line of defense” is the customer.

To keep your accounts safe this season:

1. Ditch the Public Wi-Fi: Always use your mobile data (3G/4G/5G) or a trusted, password-protected private network for any financial transactions.
2. Verify via Official Apps: Instead of relying on SMS alerts alone (which can be faked), use your official banking app (like AccessMore) to verify transaction history.
3. The “Big Three” Rule: Never share your PIN, OTP, or CVV with anyone. No legitimate bank official will ever ask for these.
4. Know the Kill Switch: Memorize your bank’s USSD “block” code. For Access Bank, for instance, it is *901*911#. If you suspect your phone or account has been compromised, use it immediately to freeze your funds.

The Bottom Line

As Central Bank Governor Olayemi Cardoso recently noted, the future of Nigeria’s digital economy relies on a balance between innovation and security. While digital banking makes life easier, it requires constant vigilance.

This holiday, don’t let a “free” internet connection turn your festive cheer into a financial nightmare. When it comes to your bank account, privacy is more valuable than convenience.

The post The Dangers of Using Public Wi-fi for Financial Transactions appeared first on Tech | Business | Economy.

The bank disclosed that it achieved this milestone through a successful capital raise via rights issue and private placement, in line with the ongoing banking sector recapitalisation exercise.

Commenting on the achievement, Dr. Emmanuel Efe Emefienim, Managing Director/Chief Executive Officer of Premium Trust Bank, said:

“Exceeding the N200 billion capital requirement is a defining moment in the bank’s journey. This achievement, coming in just three years of the bank’s existence, is a reflection of our superior financial performance since inception, unwavering commitment to operational excellence, and the trust reposed in us by our shareholders, customers, and regulators.

“As Nigeria’s fastest-growing bank, we are uniquely positioned to not only lead the sector but to continue delivering outstanding value and growth for our stakeholders.”

He added that the bank is now better placed to scale its operations, expand market share, and provide innovative banking solutions tailored to the needs of individuals, businesses, and corporates nationwide.

With this feat, Premium Trust Bank joins the ranks of tier-1 lenders such as Access Bank and Zenith Bank that have already met the CBN’s recapitalisation threshold ahead of schedule, positioning it for stronger competitiveness and enhanced capacity to deliver cutting-edge financial solutions across Nigeria.

The post Premium Trust Bank Exceeds CBN’s N200bn Recapitalisation Requirement appeared first on Tech | Business | Economy.

Held at the Landmark Event Centre in Lagos on July 19th, 2025, the festival welcomed over 3,000 attendees, highlighting its pivotal role in nurturing the next generation of innovators and importance of STEAM education in shaping Africa’s future.

This year’s festival, themed ‘AI for Good’, showcased how artificial intelligence can be leveraged as a tool for solving real-world challenges and the growing impact of hands-on science and technology education in Nigeria.

The festival featured a wide array of STEM activities, tech career talks and hands-on STEAM labs, including sessions on AI and Machine Learning, Coding, Robotics, Virtual Reality, Engineering, Craft, Drone Technology, Science experiments, amongst other activities. These interactive workshops provided children with an immersive experience, allowing them to explore the wonders of technology and its real-world applications.

Speaking on the impact of the event, Mrs. Jadesola Adedeji, Co-founder of STEM Africa Fest and co-organiser, highlighted the festival’s mission to equip children with practical skills and inspire a passion for innovation.

She remarked:

‘’Each year, STEM Africa Fest reminds us of what is possible when children are given the space to explore, question, and build. This isn’t just about STEM, it’s about unlocking potential and preparing a generation of young Africans to lead boldly in a tech-driven world. We are proud to create an experience that is both joyful and deeply transformative.” 

Also commenting on the success of this year’s festival in Lagos, Titi Adewusi, co-founder of 9ijakids and co-organiser of the event, added:

‘’STEM Africa Fest is more than a one-day event, it’s a gateway to preparing Africa’s next generation of problem-solvers, innovators, and critical thinkers. The skills gap is a shared challenge — and we believe partnerships such as STEM Africa Fest are the way forward to address it.’’

A major highlight of the festival was a captivating live AI demonstration by Malik Afegbua, world-renowned Creative AI Technologist and creator of The Elder Series, who showed children how artificial intelligence can be a powerful tool for creativity and storytelling.

The day also featured hands-on workshops in robotics, coding, virtual reality, drone technology, science experiments, and STEAM-based crafts, giving children a chance to explore technology through real-world applications.

Adding to the excitement was the highly anticipated raffle draw, where three (3) lucky attendees, Olayinka Samuel Favour, who won a tablet and Fisaju Joel Champion, who received a smartwatch all won exciting gifts.

The raffle created a sense of excitement and celebration across the festival grounds and underscored the event’s commitment to accessibility, engagement, and joyful learning.

Organised by 9ijakids and STEM-METS, STEM Africa Fest continues to grow as a movement committed to reimagining education and empowering Africa’s future through STEAM.

Since its inception in 2021, the festival has impacted over 20,000 children, students, parents and educators across Lagos, Abuja, Ghana, Zambia, Rwanda, Gambia, Kenya and Sierra Leonne.

The post STEM Africa Fest Empowers 3000 Children with Hands-on STEAM Learning appeared first on Tech | Business | Economy.

According to Brand Finance, a UK-based brand valuation company, in its latest report titled “Nigeria 25 2025”, the top four strongest Nigerian brands are banks, followed by brands in the cement and food sectors.

UBA, FirstBank, GTCO, and Access Bank were listed as the four strongest Nigerian brands. UBA topped the list, rising from ninth position in 2024 to become the strongest brand in Nigeria in 2025, with a Brand Strength Index (BSI) of 92.4/100, corresponding to a AAA+ rating.

The report revealed strong performance in brand familiarity, preference, and consideration, indicators of surging customer loyalty, as key drivers for UBA’s growth.

UBA’s prioritisation of digital banking, innovation, and investment in banking services was noted as key factors underpinning its brand strengths.

Close behind UBA was First Bank of Nigeria with a BSI score of 92.1/100 and an AAA+ rating. GTCO ranked third with a BSI score of 89.5/100, dropping from its previous position as the strongest Nigerian brand.

Commenting on the brands’ performance, Babatunde Odumeru, managing director of Brand Finance Nigeria, said:

“Nigerian banking brands continue to grow, successfully navigating a challenging economic landscape with strategic agility while maintaining customer loyalty. United Bank for Africa (UBA) and First Bank of Nigeria, in particular, have made significant strides in brand strength, emerging as the strongest Nigerian brands in 2025. UBA’s achievement is especially noteworthy, as it now ranks as the 13th strongest banking brand globally among the top 500.”

Access Bank retains its title as the most valuable Nigerian brand, with its brand value more than doubling to N893.3 billion, the fourth consecutive year it has held this position.

The post Banking: UBA Named Nigeria’s Strongest Brand, Access Bank Most Valuable in 2025 appeared first on Tech | Business | Economy.

It has since restored services across channels, such as the Automated Teller Machines (ATMs), Point of Sales (PoS), USSD and others.

Recall that Access Bank had notified its customers of its system maintenance over the weekend.

The Bank, on Friday, sent emails to the customers, notifying them of potential disruption of service/connectivity to its network channels from Sunday, April 27, 2025 by 12:00am to 6:00am.

According to the notification, Access Bank aims to upgrade its banking system to offer users smarter experience.

However, Techeconomy can report that the Bank sent a similar email notifying the customers of completing the process.

The message reads,

“Dear Customer,

Our system maintenance has been completed and all services fully restored.

Please proceed with your transactions across our channels.

Thank you for choosing Access Bank”.

Access Bank Plc is a Nigerian multinational commercial bank, owned by Access Bank Group. It is licensed by the Central Bank of Nigeria, the national banking regulator. Originally a corporate bank, they expanded into personal and business banking in 2012.

The post Access Bank Completes System Maintenance appeared first on Tech | Business | Economy.

The approvals came in quick succession. First, the Central Bank of Kenya (CBK) signed off on the deal on April 4. Then, six days later, Kenya’s Treasury gave its nod. With these cleared, Access Bank is now the outright owner of NBK, having secured all of KCB Group’s shares in the institution.

This is not a merger of equals. Access Bank didn’t just walk into Kenya’s banking space yesterday. Back in 2020, it snapped up Transnational Bank, and now, with NBK under its belt, it’s laying down roots in one of East Africa’s most competitive markets. I’ve been following Access for years, and this move doesn’t surprise me—it’s the kind of daring expansion they’ve made a habit of.

The structure of the deal? Straightforward enough. KCB Group, which acquired NBK in 2019, is now exiting. But before stepping out, KCB will shift certain NBK assets and liabilities to its own subsidiary, KCB Bank Kenya. Both CBK and the Treasury signed off on that too. It’s all part of a bigger clean-up—make the books neat, get out, hand it over.

No word yet on the final deal value, but industry estimates put it around $100 million, based on NBK’s 2023 book value. That figure could still change. For context, KCB had spent over $63 million propping NBK up since it took over. Now, with Access stepping in, the expectation is fresh capital injections and possibly a strategic overhaul.

Kamau Thugge, the CBK Governor, made the announcement official in a government notice: “Pursuant to section 13 (4) of the Banking Act, the Central Bank of Kenya on 4th April, 2025, approved the acquisition of 100 percent of the issued share capital of National Bank of Kenya Limited by Access Bank PLC.”

The Finance Cabinet Secretary, John Mbadi, followed with his own approval on April 10. It’s all above board, legally watertight.

But what does this really mean for Kenyans?

NBK has been around since 1968. It was built as a fully government-owned lender—its mission was to give Kenyans more financial control in the years following independence. That mission eventually got muddled, and by 2019, it was bleeding badly. KCB took it in, tried to revive it, and now Access is taking on the burden—and opportunity.

For Access Bank, this is about scale and reach. NBK has an extensive branch network. That infrastructure—combined with Access’s digital playbook—could unlock serious potential. Think retail banking expansion, fintech innovation, and cross-border offerings. The CBK, for one, sees it as a win. “This transaction will ensure continued stability and enhance the resilience of the Kenyan banking sector,” it said.

Access Holdings, the parent company, has been eyeing pan-African dominance for a while. With a presence in over a dozen African countries and beyond—from Ghana to Zambia, London to Dubai—it’s been building quietly but steadily. The Kenya move is just the latest in a pattern that shows no signs of slowing.

Of course, the deal isn’t sealed until Nigeria’s regulators give their go-ahead. But with approvals on the Kenyan side sorted, it’s hard to see this falling through.

Bottom line? This is a power play. Access Bank is not here to play small. Kenya, it seems, is just the next frontier.

The post Access Bank Completes 100% Takeover of National Bank of Kenya appeared first on Tech | Business | Economy.

The incoming aircraft, an ATR 72-500 with manufacturer’s serial number 852 and registration mark 5N-GAB, is expected to enter into service shortly after customary regulatory approvals.

Access Bank, one of the largest banks in Nigeria and on the continent, provided a Naira debt facility to partly fund the aircraft acquisition.

Commenting on the development, Babawande Afolabi, founder & CEO of Green Africa, said:

“We are pleased to acquire our very first aircraft, another significant milestone for Green Africa. This incoming aircraft will be pivotal as we thoughtfully navigate the next phase of our journey to bring safe, affordable and reliable air travel to a broader group of customers in the region.”

Roosevelt Ogbonna, the managing director / CEO of Access Bank, commented:

“As one of the largest and leading financial institutions on the continent, we at Access Bank take special pride in supporting young businesses that have the potential to redefine their industries and act as major catalysts for positive impact in their local market and on the continent at large. We are impressed with the Green Africa story and excited about the brand’s future trajectory. We are delighted to support the acquisition of Green Africa’s very first owned aircraft.”

The airline was launched against the backdrop of COVID-19 and entered revenue service in 2021. It has since established a strong presence in the domestic market as one of the most affordable and punctual airlines in the industry.

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