The cards are:

1. O3 American Express Green Card for consumers,
2. O3 American Express Gold Card for consumers, and
3. O3 American Express Platinum Card for consumers; and
4. O3 American Express Gold Business Card for small- and medium-sized enterprises (SMEs).

With the O3 American Express Green, Gold, and Platinum Cards, O3 Capital will enhance its overall customer offering, providing American Express Card Members a range of travel and lifestyle benefits for use in Nigeria and when travelling overseas.

These Cards will provide access to discounts at select businesses across Nigeria, cinema and dining perks, hotel and car rental benefits, and various insurances and protections.

Additionally, the O3 American Express Platinum Card will provide access to a travel and lifestyle concierge service, a membership with a global hotel programme, and five complimentary visits per year to eligible local and international airport lounges.

Cards will be able to be used at American Express accepting merchants across Nigeria and around the world.

The O3 American Express Gold Business Card will be the first American Express card launched in Nigeria to specifically support the spending needs of businesses.

This card will improve the day-to-day management of business transactions and cashflow with access to a credit facility, the ability to perform international transactions, and the inclusion of an extended repayment period of up to 45 days.

It will also aim to support the running of a business, with benefits such as three complimentary visits per year to eligible local and international airport lounges, car rental perks, and travel insurance included.

Abimbola Pinheiro, Chief Executive Officer of O3 Capital, said:

“This agreement with American Express is a significant milestone, both for O3 Capital and for Nigerian businesses. We will provide solutions for a wide range of customers – from consumers looking for more value from their payment products to businesses who want to enjoy the benefits of a domestically issued card with the international reach of American Express. We are particularly proud to be the first who will issue an American Express Business card to the Nigerian business community and we look forward to working with American Express to fulfil our potential.”

Mohammed Badi, President of Global Network Services at American Express, commented:

“With the O3 Capital American Express cards, consumers and businesses in Nigeria will have even more payment choice. American Express is excited to continue to strengthen its presence in Nigeria and expand its reach across Africa. The first-ever American Express Business Card in the most populous African country will give us another way to support local businesses with their growth aspirations.”

Established in 2014, O3 Capital is currently the second largest credit card issuer in Nigeria with over 20,000 cards. It has strategically focused on issuing Naira-denominated credit and prepaid cards to the Nigerian market.

American Express is a globally integra

ted payments company with products and services such as personal cards, business cards and services, travel services, gift cards, prepaid cards, etc.

The virtual event themed: “You Don’t Know About Stocks? Come On Now,” featured stockbroking experts: Afolabi Gbenro, Head, Sales Trading and Benjamin Jesumuyiwa, Head, Mandate and Settlements, both of Stanbic IBTC Stockbrokers with Tosin Olaseinde, founder of Money Africa, Jennifer Awirigwe, Certified Financial Educator and Solafunmi Oyeneye of Wealth Motley, a Personal Finance Educator as panelists.

The goal of the session was to acquaint individuals new to the stock market with basic stockbroking terms, useful tips for stock trading and how to use the Stanbic IBTC stockbroking app.

Afolabi stated the importance of diversifying investments in stocks. He listed factors that affect the prices of stocks which include supply, demand, news, and investor sentiments.

The benefits of investing include dividend yield, capital appreciation, equity share holder privileges and utilising investments as collateral.

He stressed the importance of research and advised Nigerians to conduct their own research and evaluate companies before investing.

On considerations before entering the stock market, he said, “You would need capital, investment objective, and risk profile assessment to determine the kind of investment you should venture into. You would also need to stay abreast of market updates.”

Benjamin Jesumuyiwa, head, Mandate and Settlements, Stanbic IBTC Stockbrokers, urged Nigerians to invest in stocks to reap long term rewards.

He said: “The stock market makes it easy to buy shares of companies and they can be purchased through a broker or via online platforms. Stanbic IBTC Stockbrokers offers a discounted rate of 0.7% on brokerage fees. Once you have set up an account, stocks can be purchased in minutes.”

Benjamin talked about the ease of using the Stanbic IBTC web and mobile applications platforms, stating that the platforms have been designed to allow customers sign up themselves, with direct access to the market.

Tosin Olaseinde commended Stanbic IBTC for making stock trading accessible and affordable for Nigerians, as individuals can open a stockbroking account with zero naira.

She advised beginners to invest while gaining knowledge about the stock market and recommended Exchange Traded Funds (ETFs) as an entry point especially for people who have an aversion to high-risk investments.

She said: “As a beginner, the best place to start is the Exchange Traded Funds (ETFs). It is a mixture of different equities in one stock. It offers you the opportunity to participate in a couple of stocks without buying everything individually.”

Solafunmi Oyeneye mentioned liquidity and dividends over a long period of time as advantages of trading stocks, encouraging beginners to access the Stanbic IBTC stockbroking app through their smartphones for convenience and less paperwork.

Jennifer opined that the stock market is a good place to invest because it is highly regulated, and the risks can be easily assessed.

She also recommended the Stanbic IBTC Stockbroking app for trading stocks for ease of use and speed.

The stockbroking investment series by Stanbic IBTC further reaffirms the commitment of the financial institution to equip individuals with essential information required to make informed investment decisions.