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SBI Media gets green light to launch 9PSB into Nigeria’s $8 billion payment service banking industry

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4 years ago

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Nigeria’s next-generation marketing communications group, SBI Media Limited is now poised to launch 9PSB, a pioneer player of payment service banking.

The imminent launch of 9PSB was given the green-light after the Central Bank of Nigeria announced the approval of an operational license to provide immersive financial services to Africa’s most populous market and more importantly, the continent’s largest economy.

The announcement of 9PSB into the financial services sector is coming at a pivotal point in the history of mankind with the new-normal brought by COVID-19 as well as the opportunities it presents innovative brands to design, iterate products and services by leveraging digital technologies and big data to better meet the changing needs of customers.

Despite the peculiar challenges facing the drive toward financial inclusion, the switch to leverage financial technology and digital media has increased the growth of transactions exponentially, making the Nigerian financial services sector, the largest and one of the fastest-growing in the world.

According to statistics from the Nigerian Inter-Bank Settlement System (NIBSS), the value of point of sale (POS) transactions amounted to ₦3.2 trillion ($8.854 billion) in 2019 as the total volume of the transactions hit 438 million within the same period.

9PSB will not only drive financial inclusion across the country, targeting cross segments of savvy and budding customers, but the brand will also pioneer ground-breaking financial products and services that will be part of the lives of Nigerians.

According to the Chief Executive Officer of 9mobile, Alan Stanfield, “ 9PSB, being a member of the 9Mobile family and the first payment service bank to kick-off operations was already positioned to “open up a digital world of possibilities to improve everyday lives,” he added that, “this new development will further improve the country and the people going forward.”

In his remarks, 9Mobile’s Chief Financial Officer, Phillips Oki, noted that “the financial inclusion that 9PSB will provide will be an enabler to achieving unparalleled benefit in everyday transactions.”

Oki reiterated that with a wide network of agents located in urban and rural communities across the country, 9PSB would make it seamless and more convenient for Nigerians to send and receive money. “9PSB is also available on mobile App and internet banking for ease and simplicity,” Oki noted that, over the coming weeks, 9PSB will unveil its products and services to Nigerians.”

Since the conception of the 9PSB brand and the subsequent journey to execute a landmark launch in the market, SBI Media Group has been a formidable partner in the journey. From the strategic approach of the brand’s go-to-market marshal plan, the group is poised to work symbiotically with the brand leadership to deliver beyond expectations.

Commenting on the milestone development, the Managing Director of SBI Media Limited, Rotimi Bankole, said “The announcement of 9PSB as a pioneer player in the payment service banking segment is a remarkable moment in the history of SBI Media Group. It is a confirmation that the agency has made its mark in the marketing communications industry given our humble beginning. It is, however, a call-to-service to deliver top-notch and quality services to our partners at 9PSB and our coterie of clients across the various sector of the Nigerian and global economy.”

In the last seven years, SBI Media Group has grown from being the favourite of tech startups to courting the win-win partnership of bluechip brands in the telecoms, mobile, financial services, technology, aviation, fast-moving consumer goods (FMCGs) as well as the public sector.

Earlier this year, SBI Media was announced as the preferred agency to manage the multi-billion naira 9mobile business as the brand seeks to further push the boundaries of innovation in the telecoms sector. The group also leverages its partnership with the largest smartphone maker in Africa, Transsion Holdings to further prove its mettle in the Nigerian marketing communications industry.

It is worthy of note that SBI Media Group is the West African strategic hub of Masscom Global (MCG), a global network of 30 agencies in emerging markets and the Asia Pacific reaching over 120 countries worldwide. With the support of its partners and the MCG Network, the agency is committed to delivering beyond client’s expectations with the unique DNA of speed, innovation-driven business leadership and the quest for excellence.

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Former Governor Ifeanyi Okowa, Spends Second Night In EFCC’s Cell Over N1.3 Trillion Alleged Fraud

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12 hours ago

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November 7, 2024

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Immediate past governor of Delta State, Ifeanyi Okowa, who was arrested and detained by the Economic and Financial Crimes Commission (EFCC) has spent second night in the custody of the anti-graft commission.

 

Okowa is currently being investigated and detained over the alleged diversion of N1.3 trillion.

 

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

 

According to sources within the commission, Okowa was invited to the EFCC office in Port Harcourt, Rivers State, where he’s subsequently detained by officials.

 

One of the sources stated, “Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.

 

“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes.

Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.

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Lagos Government Shuts Down Redeemed Church, Celestial Church, Clubs, Event Centres Over Noise Pollution

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1 day ago

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November 6, 2024

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The Lagos State government has shut down a branch of Pastor E. A. Adeboye’s Redeemed Christian Church of God, a Celestial church, nightclubs and event centres over noise pollution.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, who made this known on Wednesday, said the churches, clubs and event centres were sealed on Tuesday by the Lagos State Environmental Protection Agency (LASEPA) in the Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota areas of the state.

The sealed establishments include: Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Lounge & Lodging, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The commissioner in a post on X said, “In a bid to address noise pollution and other environmental violations, the Lagos State Environmental Protection Agency (LASEPA) took action yesterday, closing down several establishments across different parts of the state.

“This enforcement drive, focusing on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota, is part of LASEPA’s continuous efforts to uphold environmental standards and safeguard public health.

“The affected establishments include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.”

 

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Gen. Taoreed Lagbaja: Tinubu directs flags be flown at half-mast

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1 day ago

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November 6, 2024

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President Bola Tinubu has directed that Nigeria’s national flags be flown at half mast for seven days across the country to mourn the passing of the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja.

The late Army chief, who was appointed by Tinubu on 19 June 2023, was said to have passed away on Tuesday night after a prolonged illness.

The Secretary to the Government of the Federation, George Akume, in a statement on Wednesday by his office Director of Information & Public Relations, Segun Imohiosen, said the president expressed regret over Lagbaja’s death.

Akume said, “President Bola Tinubu has expressed regret following the death of the Chief of Army Staff, Lieutenant General Taoreed Abiodun Lagbaja, after a brief illness at the age of 56.

“The President has directed that national flags be flown at half mast throughout the country for seven days in honour of the departed Army chief.

“He profoundly appreciates the services of the departed to the nation and wishes the family the fortitude to bear the great loss.”

Meanwhile, the Ministers of Defence, Mohammed Badaru and Bello Matawalle, have commiserated with the president, the military, and Lagbaja’s family over his death.

In a statement by the Ministry’s spokesperson, Henshaw Ogubike, the ministers described Lagbaja’s death as a great loss to his family, the Army, and the nation at large.

“The passing on to eternal glory shocked us at the Ministry of Defence, as our working relationship with him was commendable; he exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed significantly to internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military, and the nation, as he served the nation with commitment and dedication,” the statement added.

 

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