As the digital payment space is growing tremendously in Nigeria, in line with the apex bank Central Bank of Nigeria (CBN) directives on cashless economy years ago. A lot of innovation has been brought into the industry as of today. Nigeria’s foremost financial technology (Fintech) firm, E-Settlement Limited has taken the “bull by the horn” in ensuring that the financial inclusion gets to the nooks and crannies of the country. They are doing this through massive deployment of agents in the rural areas.

 Lolade Akinsete, the Chief Operating Officer of E-Settlement Limited said that the E-Settlement Limited is positioned to change the way Nigerians transact with a bouquet of world-class products that will make transaction easier, seamless and above all secured. Speaking on their need to solve financial solution she said “We are a financial technology company with solutions tailored to solve financial problems with IT.  E-Settlement Limited is an independent, private sector led, limited liability company located in Lagos, Nigeria focused on providing Innovative, Dependable, Easy-to-use, Affordable and Secure payment solutions to everyday financial problems in Africa.”

On the Paycentre Solution, Lolade added that “Paycentre is a financial inclusion solution that provides some banking hall services outside of the brick bank especially in underserved and unbanked communities.  Paycentre also aims to be a lifestyle solution with bill payment features ranging from airtime, to cable and also electricity. Paycentre aims to provide everyday needs for funds without you having to visit a bank. The PayCentre Web and Mobile app grants you the freedom to receive and provide banking hall services by offering you the best agency banking solution in Africa. Our easy-to-use platform grants you total control and insight into your business performance”

Also deploying other innovative solutions such as PayPad, she said that” paypad is a merchant solution and is only card present. It is your regular POS but ours is mPOS where the merchant/shop owner has an application and can input the cost of the item bought on the app and the mPOS serves as a card reader. Interesting fact, Paycentre was born out of the Paypad solution. PAYPAD is an mPOS solution that enables businesses receive payments via a smart phone. PayPad grants its users access to functions such as E-marketing, smart printing, sales analytics, payment acceptance, seamless integration, multi-location support, invoice & order issuance.”

The Fintech boss also brought to fore the need for rural dwellers to embrace digital and agency banking. She said that agency banking helps protect funds in a way. People in underbanked areas won’t need to travel with large amount of cash since there would be a PayCentre agent that they can get cash from once they reach their destination. Agency banking is not the cause of insecurity but it is helping to curb it in its own way.

She recommended the Central Bank of Nigeria for playing a superb regulatory role while hinting that they have their eyes in the West African and Sub-Saharan market. “The CBN is regularly evolving and coming up with guidelines and rules to put structure in this market that is constantly growing and changing. CBN is not only protecting us but protecting the end users which are the everyday customer. They have an enormous task at hand and they perform it graciously and even beyond scope. We totally align with their policy directives as a regulator and I must tell you the truth, we commend them for their directives… We are definitely looking to expand to other countries in Africa that have these same issues that we experience here in Nigeria. We do not want to be only Nigerian based market. We have that in the plan, we hope to expand to other African countries, but it is one step at a time”, she concluded.

E-Settlement Limited is an independent, private sector led, limited liability company located in Lagos, Nigeria focused on providing Innovative, Dependable, Easy-to-use, Affordable and Secure payment solutions to everyday financial problems in Africa.

ANTHONY NWOSU

…Eulogizes Nigerian workers at May Day 

Marketsquare, a supermarket brand of Sundry Markets Limited, the foremost indigenous retail chain of supermarkets, rapidly expanding across the country has expanded its footprint in Nigeria by commissioning the 16^th outlet located along Auchi Road, at Aduwawa area in Benin City, Nigeria on Saturday, May 1 2021. 

The chain of supermarkets has become the first choice for many customers to source for their favourite grocery and fresh food products and brands in several cities around the country. Marketsquare has continued to work tirelessly to bring the best quality products to her customers at the lowest prices. 

The commissioning of the store which coincided with the 2021 May Day celebration is aimed at improving the shopping experience of people looking to shop for fresh and packaged groceries and other products in the City. 

In his speech at the commissioning of the store, the Company’s Marketing Manager, Emmanuel Patrick Isangediok said, “As the fastest-growing retail store, we have to ensure that Nigerians continually have access to great products that will help enhance their quality of life.” 

“We have put everything in place to ensure that Nigerians have access to modern and relevant retail shopping experience in a very convenient way for people to source their daily needs.  We have also provided the opportunity for customers to shop online at www.marketsquareng.com where they have the choice to pick up their already packed order inside the store or get it delivered to their homes or offices.” 

“We would also want to congratulate Nigerian workers on the occasion of the 2021 Workers’ Day because their daily toil has contributed immensely to the development of the nation. We equally, celebrate our workers across all the outlets nationwide. They are the ones who give customers the best shopping experience that has endeared our brand to them,” he added. 

Our tagline – find more, pay less – is a promise of our unwavering desire to get the best quality products to the customer at the lowest prices available. 

We would continue to support the federal government’s “buy local” initiative by stocking and promoting ‘Made in Nigeria’ products to support indigenous manufacturers. 

Marketsquare is an indigenous retail chain of supermarkets in Nigeria, which started trading in December 2015. Today Marketsquare has 16 outlets nationwide and rapidly expanding Pan-Nigeria. 

Leveraging Microsoft’s experience in the utilization of technology as an enabler for the delivery of public and social good, the Buhari administration is partnering with the tech giant to accelerate Nigeria’s certain advance towards a more digital economy in line with the Economic Sustainability Plan.

In a dual announcement today by both the Federal Government and Microsoft Corporation, no less than 5 million Nigerians would benefit from a digital upskilling programme, and locations in each of the 6 geopolitical zones in Nigeria will also enjoy active internet connection and cloud services courtesy of this digital transformation plan.

The partnership with Microsoft Corporation anchored on connectivity, skilling and digital transformation followed discussions between both parties led by Vice President Yemi Osinbajo, SAN, and Microsoft President Brad Smith earlier in the year.

For instance in January this year, the Vice President had a virtual meeting with the Microsoft Corporation President, Mr. Brad Smith, where discussions covered areas of intersection between technology and governance to enhance Nigeria’s digital transformation.

Speaking in a formal video announcement of the partnership with the tech giant, Prof. Osinbajo said “our government is committed to leveraging innovation and technology to bring better outcomes across a wide area of governance concerns. Indeed, it is with this in mind that we have sought constructive partnerships that bridge the knowledge, skills and technology gap that exist in most of our communities.”

According to the VP, “this launch is indicative of our commitment to this and will involve collaboration with various Government agencies as implementing partners, including the Ministry of Communication and Digital Economy, the Ministry of Youth and Sports Development, the Economic and Financial Crimes Commission, the Nigerian Institute of Cultural Orientation, and various other local partners. We intend that these initiatives become institutions in their own rights and make a real impact in the lives of our citizens going forward.”

On the core areas of the partnership, Prof. Osinbajo said “this partnership will focus on two pillars: Connectivity & Skilling, and Digital Transformation.”

His words: “we plan to connect under-served communities in each of the six geo-political zones with access to internet and cloud services. This project is a critical component of our objective of expanding broadband connectivity, which is by itself, a major pillar of our Economic Sustainability Plan in response to the Covid-19 pandemic.

“Working with Microsoft, we intend to upskill 5 million Nigerians through this increased internet access over the next three years in various digital skills which will increase both employability and entrepreneurship.

“The multiplier effect will bring opportunities in rural and urban areas to many young people and will help us deal with unemployment problems made worse by the pandemic.”

Using digital tools under the project, the Vice President said “we will pioneer innovative approaches in the fight against corruption, a major priority of this administration.”

Continuing, the VP said, “Leveraging Microsoft’s Technology tools which can be deployed to minimise governance risks and block loopholes, working with the Economic and Financial Crimes Commission (EFCC), we will seek to use cutting edge analytical and case management tools to plug holes in our public sector system as well as confront white-collar criminality efficiently.”

“This pillar will also serve a vital social function. by using Microsoft’s Artificial Intelligence technology and resources to preserve and promote our major languages so we can revitalize these important aspects of our culture.

“Our focus is of course the Nigerian people. With over 80 million regular internet users, there is no question that Nigerians have fully embraced technology, the internet and their various uses,” the Vice President added.

On his part, the President of Microsoft Corporation, Mr Brad Smith said the “we believe in the future of Nigeria and we are excited as a company to add to our investments. It is a country we have had the opportunity to get to know better over the last few years.”

According to Smith “in 2018 we partnered with Tek experts to create a Customer Support Centre, a center in Lagos that employs over 1,600 people. And then we had another opportunity to broaden our investment even more by creating our African Development Centre. A centre that, by the end of this year, will employ over 200 software developers and engineers, people who are creating technology and Microsoft products to serve not only the people of Nigeria but the people of the world.

“All of these is giving us the kind of confidence to want to invest even more. And one of the things that we have recognized as a company is the need to grow with communities and countries and not just buying for ourselves.”

On the new partnership with the Federal Government, Mr Smith said “we are embarking on a series of broad-based, really multifaceted investments to better serve Nigeria in three areas of internet connectivity, digital skilling and digital transformation. We will be providing digital skills to 5 million Nigerians over the next three years, and along the way, creating 27,000 new jobs during the same period.”