Speech by Stanley Jacobs, Head,Consumer Distribution, Ecobank upon Election as the Chairman of CeBIH

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Thursday, July 19, 2018 12:00PM / Stanley Jacobs 

Being Speech delivered by Stanley Jacobs, Member of Fintech Association of Nigeria Governing Council and Head, Consumer Distribution, Ecobank; as the Chairman Committee of e-Business Industry Heads (CeBIH) for the next 2 years. 

Distinguished Chairman of the Electoral Committee, Immediate Past Chairman of CeBIH, Ladies and Gentlemen. 

I am sincerely grateful for the privilege to lead this Committee of top Digital Banking practitioners in Nigeria. 

The year 2016 was a defining moment for CeBIH when the immediate past chairman was sworn in, then we were faced with a choice of stability versus spontaneity – and we made a very good choice of selecting Mr. Dele Adeyinka to lead CeBIH in 2016 and having worked as his Vice, I can clearly attest that CeBIH has experienced new heights in collaboration and innovative approach to industry matters. 

In the face of a rapidly changing digital space, it is clear that CeBIH does not need a stormy restart, so I am once again grateful that you have elected me to lead this committee to ensure continuity. 

As we continue on the transformation initiatives of CeBIH, I promise to lead the newly elected executive council to achieve the following key agenda:

 

Financial Inclusion through Digital

No doubt, Nigeria has witnessed tremendous positive changes in areas of digital infrastructure (especially in areas of providing broadband internet and mobile penetration – the highest in Africa), but there is still that hot discourse on financial exclusion which is currently over 40% of our adult population. 

The digital divide refers to the gap in usage and access to digital infrastructure and services between individuals, households, businesses or geographical areas; and this gap is still significantly wide in Nigeria and amongst Nigerians. 

This gap is fueled by inadequate digital infrastructure, lack of affordable network services, and shortage of digital skills to create or add value and most importantly low effectiveness in the coordinated efforts aimed at fostering social and economic equality. 

As CeBIH we will actively collaborate with industry to provide the needed financial services at the right pricing to the bottom of the pyramid. We will also ensure adequate capacity building for all stakeholders to equip them in tackling the exclusion challenge.
 

Security

CeBIH will pull industry resources and work with the regulators to promote an industry approach for combating cyber-security, and payment frauds. Financial literacy campaigns and robust customer education will also be a key tool to achieving this.
 

Industry Collaboration
My predecessor has laid a solid foundation for collaboration and this has taken recognition of CeBIH to an all-time high. This new Executive Council will strengthen collaboration by focusing on – 

a.      The SANEP and ensuring that the expected benefits are delivered to consumers

b.      Accommodation of OFIs & FINTECHs to deliver improved financial services

c.       Research and case studies to drive emerging payments.
 

To immediately get started, I am setting up a 4-man adhoc committee to be chaired by the newly elected Vice-Chairman (Mr. Kayode Olubiyi), this committee will be charged with the following ToR: 

i.     Review the modalities and requirements for admission of OFIs such as Merchant Banks, MFBs, (for MFBs, consideration will be strictly limited to those with national license to operate in Nigeria).

ii.  Review the requirements for CeBIH Advisory Council memberships with a view to granting honorary membership to notable and well recognized Nigerians (at very senior levels) and with very strong interest in eBusiness and Digital Payments

iii.  The chairman of this adhoc committee will be supported by :

a.      The newly elected secretary for OFIs & FINTECHs – Mrs. Bidemi Asumuo

b.      The newly elected secretary for Emerging Payments – Mr. Mike Ogba; and,

c.       The newly elected secretary for Publicity & Advocacy – Mrs. Gloria Erus

iv.       This adhoc committee is to submit a recommendation to the executive council, 30 days from today. 

In the coming days we will roll out a more elaborate plan for members of CeBIH, be rest assured of a very exciting times ahead. 

Thank you and GOD Bless.


Proshare Nigeria Pvt. Ltd. 

 

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