NEWS
WOMEN ARE BREAKING BARRIERS IN FINTECH AND SMES – 9PSB CEO
Lagos, Nigeria, June 2024. 9 Payment Service Bank (9PSB), Nigeria’s digital payment service bank, focused on financial inclusion, has echoed the impressive progress demonstrated by the female professionals and entrepreneurs in the fintech sector, and Small and Medium Scale Enterprise (SMEs) at this year’s Digital Pay Expo and Exhibition held at Eko Hotel and Suites, Victoria Island, Lagos.

L-R: Group Head, Business Development and Strategy, 9 Payment Service Bank (9PSB), Akeem Salam; Economic Inclusion and Gender Equity Advocate, Lehle Balde Cameron; Managing Director and Chief Executive Officer, 9 Payment Service Bank (9PSB), Branka Mracajac; Managing Director, Intermac Consulting, Adeyinka Adeyemi; Team Lead Marketing and Communications, 9PSB, Inemesit Ekong and Director, Intermac Consulting, Ope Adesanya at the 2024 Digital Pay Expo recently held at Eko Hotel & Suites, Victoria Island Lagos

L-R: Group Head, Business Development and Strategy, 9 Payment Service Bank (9PSB), Akeem Salam; Managing Director and Chief Executive Officer, 9 Payment Service Bank (9PSB), Branka Mracajac; Managing Director, Intermac Consulting, Adeyinka Adeyemi and Team Lead Marketing and Communications, 9PSB, Inemesit Ekong at the 2024 Digital Pay Expo recently held at Eko Hotel & Suites, Victoria Island Lagos.
The year’s event themed, ‘Redefining Payment,’focused and analyzed the payment habits of the Millennials and Gen Z, the largest generation groups. It spotlighted the crucial effects of the group on the payment world to continue to develop solutions that will gain their loyalty and that of the total market.
Speaking at the session, Women in Fintech, themed, Inclusive Finance for SMEs, designed to mentor participating female undergraduates across institutions of higher learning in Lagos State, the Managing Director and Chief Executive Officer, 9 Payment Service Bank (9PSB), Branka Mracajac, emphasized that women are making significant breakthroughs in the fintech sector and in Smal and Medium Scale Enterprises in recent years compared to what was obtainable in the past.Although, women are still contending with the male counterparts for positions, it is evident that many women are assuming key executive positions in the finance and fintech sector, as well as other areas of human endeavours. The fintech industry is striving to improve the situations occasioned by gender disparity, inclusivity, and financial inclusion to ensure equal growth and opportunities.

L-R The Compere of the session, Tolu Thomson; Director, Intermac Consulting, Ope Adesanya; Chief Executive Officer, Heckerbella Limited, Nigeria, Yemi Keri; Chief Executive Officer Xpress Payment Solutions Limited, Dr. Markie Idowu; Economic Inclusion and Gender Equity Advocate, Lehle Balde Cameron; Managing Director and Chief Executive Officer, 9 Payment Service Bank (9PSB), Branka Mracajac; Chief Executive Officer, Shared Agent Network Expansion Facilities Limited (SANEF), Nigeria, Ronke Kuye; Chief Executive Officer, Hydrogen, Nigeria, Kemi Okunsanya and Managing Director, Intermac Consulting, Adeyinka Adeyemi at the 2024 Digital Pay Expo recently held at Eko Hotels & Suites, Victoria Island Lagos.
In her words, ‘’Women are founding many business entities and SMEs, it is important to have the right mindset, work hard and put in more efforts to educate yourselves, acquire the right expertise and skills, network and find someone who will inspire you and the opportunities would present itself. We need more prominent professional women leaders in fintech to inspire young girls. We did not have this in my time, but the dynamics have changed. Women should stay focused, connected, and look for opportunities to kick-start their careers’’.
Other female Chief Executive Officers in the fintech sector who also formed part of the session are Ronke Kuye, (Shared Agent Network Expansion Facilities Limited, SANEF, Nigeria); Dr. Markie Idowu (Xpress Payment Solutions Limited); Kemi Okunsanya (Hydrogen, Nigeria), and Yemi Keri (Heckerbella Limited). They also shared pieces of advice to the young undergraduates on the need to have mentors who have attained progressive stages of career growth; build good rapport; have improved social capital, utilize the social media as a means of communication; and communicate their capability, competencies, and experience. In addition, they advised them to offer their best and be ready to add value to prospective organizations they will be employed in. Furthermore, the youngsters were also implored to build and keep relationships with colleagues and ensure leave on a good note whenever they meet people, because the future is unpredictable.
Digital Pay Expo is a yearly event designed to bring together industry regulators, fintech top executives, and innovators in the fintech and payment solution space to collaborate and move the industry forward.
The platform provides a unique opportunity for industry players to discover new innovative cases and technologies that will accelerate the much-needed growth in the fintech ecosystem.
NEWS
South African Investment Banker Richard Simanga Ngwenya Arrested in Alleged Fraud Investigation.
Richard Simanga Ngwenya, a South African-based investment banker and Zimbabwean businessman known for showcasing an extravagant luxury lifestyle on social media, has been arrested in connection with an alleged fraud investigation, according to documents circulating online.The documents, which have attracted widespread attention across digital platforms, identify Ngwenya as a suspect in a case registered in Sandton and reference a South African Police Service (SAPS) case number linked to the ongoing investigation.The arrest comes just weeks after Ngwenya dominated headlines over reports that he gifted his girlfriend a luxury Bentley, a gesture that fueled conversations about his lavish spending and elevated his profile across Zimbabwean and South African social media.The latest development has shifted public attention dramatically, with social media users revisiting videos and photographs highlighting his collection of luxury vehicles, designer fashion and high-end lifestyle. Online discussions have intensified, with many questioning the source of his wealth. However, no court has made any findings regarding those claims, and the allegations remain subject to legal proceedings.Ngwenya built a significant online following through displays of wealth that frequently went viral, positioning him among the region’s most talked-about young businessmen. His social media presence often featured luxury automobiles, premium real estate, international travel and extravagant gifts.The alleged fraud investigation now places the businessman under legal scrutiny, with observers closely monitoring developments as the matter progresses through South Africa’s criminal justice system.Authorities have yet to publicly disclose the full details of the allegations or the value of the alleged fraud under investigation. Further information is expected to emerge as legal proceedings continue.As of the time of publication, Ngwenya has not publicly commented on the allegations, and no plea or court finding has been reported.
NEWS
Governor Dauda Lawal Distributes 50 Subsidised Buses, Commissions Fire Trucks for Swift Emergency Response
Zamfara State Governor, Dauda Lawal P.hD has rolled out a major public welfare intervention distributing 50 subsidised buses to the National Union of Road Transport Workers (NURTW) and commissioning five modern fire trucks, in a move aimed at tackling transportation hurdles and strengthening emergency response across the state. The official handover ceremony took place on Wednesday at the Government House in Gusau, drawing leaders from the transport union, fire service officials and top government functionaries.
According to Governor Lawal, the buses are being provided under the Zamfara State Loan Scheme, a structured financing programme designed to promote economic empowerment while ensuring sustainability through cost recovery. Each bus was procured at ₦27,390,000, but the state government is absorbing 20% of that cost – amounting to ₦5,478,000 per vehicle – as a direct subsidy to ease the financial burden on beneficiaries.This means each NURTW member will repay ₦21,912,000 over a 44-month period, with repayment commencing from the date of vehicle allocation.
Crucially, the NURTW has entered into a partnership with the government to oversee the entire process, with the union responsible for identifying eligible members, supervising the use of the vehicles and ensuring strict compliance with the repayment schedule, a collaborative approach intended to minimise defaults and guarantee the scheme’s longevity.
In a parallel development, the Governor also commissioned five state-of-the-art fire trucks to reinforce the Zamfara State Fire Service, with the trucks equipped to modern standards and expected to significantly shorten response times during emergencies. Governor Lawal underscored the urgency of the investment, noting that fire outbreaks remain a persistent threat to lives and property in the state. “We are aware that fire outbreaks can destroy homes, shops and livelihoods in seconds,” he said. “These new fire trucks, equipped with modern standards, will strengthen the state fire service’s capacity to respond faster across all nooks and crannies of the State.”
He charged the Fire Service leadership to complement the equipment with rigorous personnel training, regular public fire-safety sensitisation campaigns and consistent maintenance to keep the trucks in optimal condition at all times. The Governor made it clear that all assets distributed belong to the people of Zamfara and must be treated with utmost care, directing all benefiting Ministries, Departments and Agencies, as well as individual beneficiaries, to submit quarterly maintenance and utilisation reports to their respective oversight offices.
He further issued a stern warning against any form of abuse, declaring that “vandalism, misuse or diversion will not be tolerated,” signalling the administration’s commitment to transparency and responsible asset management.
Governor Lawal framed the initiative as part of his broader agenda to uplift the state’s transportation sector, create economic opportunities for transport workers, and enhance public safety. By subsidising the buses, the government aims to ease the cost of commuting for residents while providing a sustainable livelihood for NURTW members, while the fire trucks are expected to reduce the devastation caused by infernos in both urban and rural communities. The combined investment reflects a multi-pronged strategy to address critical infrastructure gaps while fostering accountability and community partnership.
With the handover complete, the NURTW is expected to begin allocating the buses to qualified members in the coming days, while the Fire Service will deploy the new trucks across strategic locations in the state. The government has pledged to monitor progress closely through the quarterly reporting mechanism, with defaulters or abusers facing appropriate sanctions. This development marks one of the largest single interventions in the transport and emergency services sectors under Governor Lawal’s administration and stakeholders are watching closely to see how the scheme translates into tangible improvements for ordinary Zamfara residents.
NEWS
Minister backtracks, says Adire not approved for NYSC
The Minister of Youth Development, Ayodele Olawande, on Thursday, clarified that the Federal Government had yet to approve Adire as the new uniform for members of the National Youth Service Corps, hours after his comments on the proposed change generated widespread reactions.
In a statement published on his official X handle, Olawande said reports suggesting that Adire had been adopted to replace the iconic khaki uniform misrepresented his remarks during an appearance on Channels Television’s The Morning Brief.
The minister explained that while he mentioned Adire and Ankara during the interview, they were only examples of proposals being considered as part of the ongoing reform of the scheme, adding that “No final decision has been taken on the fabric or design.”
“My intention was simply to cite examples of some of the proposals that have been put forward in the course of our consultations. It was not an announcement that any particular fabric has been adopted or approved to replace the current NYSC uniform,” he stated.
According to Olawande, the government is considering options that “tick all the right boxes in terms of professional outlook, a unique national identity, durability, functionality, cost-effectiveness, and the projection of national pride.”
He said any eventual decision would be guided by extensive stakeholder consultations and what best serves the interests of the NYSC and the country.
The minister also urged Nigerians not to allow the debate over the proposed uniform to overshadow the broader objectives of the ongoing reforms.
“The reforms are designed to make the Scheme more relevant to today’s realities by improving employability, promoting entrepreneurship, strengthening national integration, enhancing service delivery, and creating a smoother transition from education to productive careers.
“While conversations around the uniform are understandable, they should not overshadow the far-reaching reforms aimed at empowering millions of Nigerian youths and positioning the NYSC as a stronger platform for national development,” he said.
The PUNCH had earlier reported that the Federal Government planned to replace the NYSC’s traditional khaki uniform with locally produced Adire as part of sweeping reforms approved for the 53-year-old scheme.
Speaking on Channels Television, Olawande had said, “It’s Adire,” explaining that the move was intended to promote local textile production and keep government spending within the Nigerian economy.
The proposed uniform change formed part of the comprehensive overhaul of the NYSC approved by the Federal Executive Council on Monday, which also includes skills-based deployment of corps members, civilian operational leadership for the scheme and amendments to the NYSC Act
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