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FIRSTBANK HOSTS FINTECH SUMMIT 5.0, HIGHLIGHTS THE IMPACT OF OPEN BANKING ON FINANCIAL INCLUSION

First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider, has
announced that the 2021 edition of its annual FINTECH Summit is scheduled to hold on
Thursday, 7 October 2021 by 10:00 am. The virtual event is opened to everyone, but
participants are required to register via the
link https://firstbanknigeria.zoom.us/webinar/register/WN_NmkYfeckQqu4vjTWy5lr5w

The 2021 edition of the summit which is the fifth in its series is themed; “Open Banking and its
Derivative Opportunities for the Financial Ecosystem” and will be discussed by experts, policy
influencers, regulatory officials as well as key and leading players in the Nigerian financial,
banking and technology climate.

Prof Ndubuisi Ekekwe, the Lead Faculty of Tekedia Institute with a PhD in engineering from
John Hopkins University, USA, will be leading the discussion as the Keynote speaker alongside
other panelists; Ankit Sharma, Director at Strategy&, a part of the PwC network, based out of
Mexico; Ope Adeoye, CEO (Chief Plumber) at One Pipe; Aminu Maida, Executive Director,
Technology & Operations at Nigeria Inter-Bank Settlement System Plc (NIBSS), Musa Jimoh,
Deputy Director, Payment Systems, CBN and Olayinka Situ, Head, Corporate Transformation,
FirstBank.

The need for Open Banking in Nigeria cannot be overemphasized as the importance goes
beyond just convenience to its game-changing impact in transforming value creation, product
conceptualization and closing the financially excluded gap.

Through standardized and accessible open API technologies, innovators and product
developers alike are now availed a wealth of big data and attendant insights, with the potential
to completely redefine standards for product conceptualization, customer satisfaction and
service delivery across Africa’s largest economy. This is the focus of this year’s theme;
exploring the depth and range of these derivative opportunities set to be triggered by the
application of an Open Banking regime in the country.

Building up conversations into the event, the Bank recently hosted several podcasts with
speakers sharing insightful tips that will impact an end–to–end growth of financial technology in
the country. The podcasts are enhanced with useful nuggets as there is new and useful
information for everyone.

Guests discussants in the podcasts include; Joshua Chibueze, Co-founder and Chief Marketing
Officer of PiggyVest, a Nigerian FinTech company committed to giving everyone the power to
better manage their growth and finances; David Peterside, Chief Operating Officer of Okra, a
fintech company committed to empowering companies and developers to build products with
seamless access to inclusive financial data and secure payments. The podcasts which are
opened to everyone are available on the Bank’s official Instagram handle – firstbanknigeria.

Speaking on the event, the Chief Executive Officer of FirstBank, Dr Adesola Adeduntan said,
“our annual FinTech Summit in the past four years has been a platform of leading conversations
and practices that have impacted the financial technology and electronic banking eco-system
which has been integral to bridging the gap and digital divide of modern banking in today’s
global village. Participants at our summits have been enlightened on ways to optimally carry out
their digital transactions and business activities in safe and seamless ways.

Financial services have continually evolved in Nigeria and the world over and we intend as in
previous years to use our FinTech summit this year to discuss different views on Open Banking
and its associated opportunities with the goal of building on the successes achieved in the
past’’.
.

About FirstBank

First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading
financial inclusion services provider in Nigeria for over 127 years.

With over 750 business locations and over 130,620 Banking Agents spread across 99% of the
774 Local Government Areas in Nigeria, FirstBank provides a comprehensive range of retail

and corporate financial services to serve its over 30 million customers. The Bank has
international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris,
FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal,
as well as a Representative Office in Beijing.

The Bank has been handy at promoting digital payment in the country and has issued over
10million cards, the first bank to achieve such a milestone in the country. FirstBank’s cashless
transaction drive extends to having more than 10million people on its USSD Quick Banking
service through the nationally renowned *894# Banking code and over 4.5 million people on
FirstMobile platform.

Since its establishment in 1894, FirstBank has consistently built relationships with customers
focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk
management and leadership. Over the years, the Bank has led the financing of private
investment in infrastructure development in the Nigerian economy by playing key roles in the
Federal Government’s privatisation and commercialisation schemes. With its global reach,
FirstBank provides prospective investors wishing to explore the vast business opportunities that
are available in Nigeria, an internationally competitive world-class brand and a credible financial
partner.

FirstBank has been named “Most Valuable Bank Brand in Nigeria” six times in a row (2011 –
2016) by the globally renowned “The Banker Magazine” of the Financial Times Group; “Best
Retail Bank in Nigeria” for seven consecutive years (2011 – 2017) by the Asian Banker
International Excellence in Retail Financial Services Awards and “Best Bank in Nigeria” by
Global Finance for 15 years. Our brand purpose is always to put customers, partners and
stakeholders at the heart of our business, even as we standardise customer experience and
excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision
“To be the partner of the first choice in building your future”. Our brand promise is always to
deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on
our inherent values of passion, partnership and people, to position You First in every respect.

Folake Ani-Mumuney
Group Head, Marketing & Corporate Communications
www.firstbanknigeria.com

First Bank

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