Interswitch, one of Africa’s leading integrated payments and digital commerce companies, has emphasised the importance of advancing inclusive payment systems that seamlessly connect businesses, the workforce, and government to drive the Africa’s economic transformation. This was highlighted by Mitchell Elegbe, Founder and Group Managing Director, Interswitch, during his keynote address at the 2024 Committee of e-Business Industry Heads (CeBIH) Conference, held recently at the Eko Convention Centre, Victoria Island, Lagos.In his address, titled “The Impact of Globalization and the Gig Economy on Inclusive Payment Systems in Nigeria,” Elegbe noted that while fintech companies have made significant progress in enhancing financial inclusion, Nigeria’s full economic potential can only be unlocked when all stakeholders, including businesses, government, and fintech innovators, work together. He further emphasised the need to leverage their collective strengths to meet the evolving needs of Nigeria’s diverse and growing population through seamless, accessible, adaptable, and inclusive payment solutions. He said that such systems would drive widespread economic benefits.“The role of inclusive payment systems in Nigeria’s economic growth cannot be overstated. A collaborative approach involving businesses, workers, fintech companies, and the government will ensure that financial services are accessible to everyone, regardless of their location. This will create a financial ecosystem that supports growth, innovation, and inclusion across all sectors,” Elegbe stated.The conference featured a dynamic panel session titled “The Future of Cards,” where Vincent Ogbunude, Managing Director, Interswitch Paytoken (Verve), discussed the evolution of card payment systems. He stressed the need for innovation to stay ahead of market trends, particularly in areas such as tokenisation and biometrics.According to Ogbunude: “The future of card schemes is evolving beyond the plastic we know today, moving towards tokenisation, biometrics, and other innovative payment methods. At Verve, we are committed to delivering seamless and world-class solutions that ensure our infrastructure and security protocols continue to adapt to these changes.”The event also highlighted a presentation by Olubunmi Aina, Vice President, Sales and Account Management, Interswitch, showcasing Verve cards’ global acceptance across platforms like YouTube, Netflix, Google, and AliExpress. Aina also spotlighted Interswitch’s expansion into key sectors, including transportation and healthcare, citing the Lagos SHIP initiative with the Lagos State Government as a testament to the company’s innovative approach.As Nigeria’s first unicorn, Interswitch continues to lead transformative changes across industries, creating user-centric solutions that enhance everyday experiences. The company’s sponsorship of CeBIH 2024 underscores its dedication to promoting robust payment ecosystems that empower individuals and businesses alike.By forging strategic partnerships, advocating progressive policies, and championing technological advancement, Interswitch is steadfast in its vision of a prosperous Africa driven by the seamless exchange of value and commerce.

L-R: Victor Oladipo, Breeder, Seed-Co Nigeria; Dr Sunday Aladele, Director Research, NACGRAB; Agboade Oladotun, Regional Director, NASC; Dr. Anthony Okere, DG NACGRAB; Prof. B.G.J. Kabir, Director/CEO Lake Chad Research Institute (LCRI); Mr. Abubakar Mohammed, Chief Agric Superintendent, LCRI; Prof. Shehu G. Ado, Chairman, Technical Sub-Committee, National Varietal Release; Dr. K.K. Mala, Programme leader Wheat and Barley, LCRI; Mr. John Amidu, Asst. Chief Agric Superintendent, LCRI during an on-field activity critical to delivering the ‘Crown’ wheat seed variety in Plateau State.

Olam Agri and Lake Chad Research Institute (LCRI) have further underlined their commitment of helping Nigeria towards greater wheat production self-sufficiency and food security with the release of a novel heat-tolerant and super-early durum wheat variety suitable for local cultivation during the harmattan season.This release signals another milestone achievement for Olam Agri’s “Seed for the Future (SFTF)” flagship project that was launched in 2021. The initiative is focused on removing hurdles to wheat production self-sufficiency in the country. It prioritises developing and cultivating seed varieties that suit the country’s unique topographic and climatic conditions and training a wide range of smallholder farmers on modern agronomic practices, with a stronger focus on empowering rural women. The Lake Chad Research Institute (LCRI) achieved its first-year milestone of producing 10 kg of pre-multiplication wheat seed varieties in September 2022 and this season, ten women-owned farms will plant the seed variety in December, with hundreds of farms set to benefit by 2025 and thousands more in 2026.

L-R: Dr Maryam Abba Dawud, Programme Leader Millet, Lake Chad Research Institute (LCRI); Dr Zakari Turaki, Director Research, LCRI; Damilola Adeniyi, head legal, Olam Agri; Prof. O. Olufajo, Chairman Main Committee National Varietal Release; Dr K.K. Mala, Programme leader Wheat and Barley, LCRI; Dr A.S. Wali, Head of Cereals Research, LCRI, during a stakeholder meeting connected to the research operations.

This novel heat-tolerant and super-early durum wheat variety is called “Crown”, and it emerges from the work of Dr Filippo Bassi, a specialist wheat breeder at the International Centre for Agricultural Research in the Dry Areas (ICARDA), as part of the work that received the Olam Prize for Innovation in Food Security back in 2018. Speaking about the wheat seed variety, Dr Filippo Bassi said, “The Crown wheat variety is tailored for the Nigerian growing conditions after working closely with local farmers to understand their needs, especially the need to grow super-early varieties that allow farmers to harvest and replant rice on time. Based on test results run with Crown Flour Mill Nigeria, this variety is certified as suitable for high-quality pasta production.” Dr Kachalla Mala, an LCRI breeder and lead in the project, said, “Availability and accessibility of quality seed varieties are important to farmers, and we are excited to release “Crown”, a heat-tolerant, high-yielding wheat variety. In collaboration with Olam Agri and ICARDA, this is the first step in a chain of actions to work with women’s cooperative unions and local farmers to multiply and commercialise the seed.”Each of the female cooperatives will now receive one quintal of Crown seeds, in addition to training in agronomic management and some initial financing to produce three tons of certified seeds ready for further usage by the farmers of their villages. They will then engage their farming communities to further multiply it to 30 tons of seeds and commercialise it for use across Nigeria.Nitin Mehta, Managing Director of Crown Flour Mill Ltd (Olam Agri’s Wheat Milling business), explained, “We are glad to reach this critical milestone of releasing Crown, a novel heat-tolerant durum-wheat seed variety tailored to the Nigerian farming conditions. We consistently focus on making bold investments in projects that will enable the country to achieve its food production self-sufficiency goals and understand the importance of wheat-derivative foods such as pasta, bread, confectioneries, pastries, and biscuits in local dining.”Anil Nair, Managing Director of Olam Agri’s operations in Nigeria, emphasised the company’s dedication to food security, stating, “The milestone release of the novel durum wheat seed variety supports the Federal Government’s Renewed Hope Agenda and focus on food security. This initiative is not only advancing greater domestic wheat production but is also empowering women farmers to play a critical role in scaling up farming communities. The future is bright for the food value chain, and we look forward to 100% Nigerian-grown wheat.”

L – R: Mr. Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc; Mrs. Aboluwade Margaret, Zonal Coordinator, Federal Competition and Consumer Protection Council; Dr. Ken Opara, Promo Committee Chairman and Executive Director, Lagos and South West, Fidelity Bank Plc; Mrs. Oghenero Ugoji, Director, National Lottery Regulatory Commission, Lagos Zonal Office; Mr. Tanko Olaseni Mohammed, Head, Monitoring Inspection & Enforcement, Lagos State Lottery and Gaming Authority; and Ms. Damilola Oshinowo, Legal Officer, Lagos State Lottery and Gaming Authority: at the launch of the Fidelity Bank Get Alert in Millions Season 6 (GAIM 6) promo in Lagos recently.

Leading financial institution, Fidelity Bank Plc, has announced that it will be giving out N159 million to lucky customers in its recently launched Get Alerts in Millions Season 6, (GAIM 6) promo.Speaking at the press conference to kick off the promo at the bank’s Lagos head office, Executive Director, Lagos & South-West, Fidelity Bank Plc and the Promo Committee Chairman, Dr Ken Opara, said that the aim of the promo was to build a culture of financial discipline and enable the bank’s customers improve their standard of living, achieve their goals, and secure a brighter future for themselves and their families.He said, “Over the years, we’ve seen firsthand how GAIM has transformed lives by helping customers pay off debts, fund their children’s education, start-up businesses, and invest in projects. These stories of the transformative power of GAIM in the lives of our customers, motivated us to raise the stakes with each new season, and I am excited to share that GAIM 6 will feature an even larger prize pool with over N159 million in cash prizes.“As a Bank, we remain committed to ensuring this season is bigger and better than ever. In the coming months, we will provide additional updates through roadshows and community outreaches, and we encourage you to join us in spreading the word and inviting your friends and family to be a part of this initiative.“While GAIM provides an opportunity to win numerous cash prizes, it is important to state that GAIM is not just about winning prizes. It’s about changing the financial fortunes of our customers, strengthening communities and contributing to the country’s economic growth. The financial advisory services we offer to our winners are an essential part of providing key insights that help our winners preserve and grow their earnings in a sustainable manner.”To participate in the promo, Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc said, “The customer needs to have a savings account with Fidelity Bank, and make sure that from today, that you’re putting money in that account. And once your balance is increasing, every N5000 you put in, you qualify for the basic rewards, the ones that happen quarterly, the N10,000.But for the N1 million rewards you need to have at least a minimum of 10,000 naira. Every 10,000 Naira in your account gives you a ticket. With that ticket, you stand a chance of winning N1 million naira every month. We have 10 winners emerging every month with N1 million naira each. So, for the period of nine months, that’s 90 customers getting N1 million naira each.” Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged commercial bank with over 8.3 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.The bank has won multiple local and international awards including the Export Financing Bank of the Year and Excellence in Digital Transformation & MSME Banking at the 2024 BusinessDay Banks and Other Financial Institutions (BAFI) Awards; the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.