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EcobankPay Hits N2bn Transactions Value; 100,000 Merchants onboarded
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Lagos, September 16, 2019 – Ecobank Nigeria says over 100,000 merchants have been onboarded on the EcobankPay platform with transaction value reaching N2billion. EcobankPay offers customers a multi-channel payment experience that includes Mobile QR Payment at merchant stores (mCash, Masterpass and mVisa), Merchant QR is set up via Facebook Messenger as well as USSD payment for low-income phone users. EcobankPay is used by all businesses from small, informal micro merchants to large corporates as well as governments. It enables them to offer easy and convenient payment options to their customers in-store or online.
EcobankPay’s unique offering is such that all bank customers in Nigeria can pay with Masterpass, mVisa, and mCash with any phone by scanning the QR code or using USSD at merchant locations. It is free to set up, as the shop owner only needs his/her QR code and phone for notifications to start receiving quick and easy payments. Additional offerings include instant settlement of transaction with no transaction fees and it supports domestic and cross border transactions.
Announcing this development in Lagos, Carol Oyedeji, Executive Director, Commercial Banking, Ecobank Nigeria, said she was impressed with the level of acceptance of EcobankPay service by Nigerians. She reiterated that the digital product was introduced into the financial landscape to enhance payment and create ease and convenience of transactions. “The performance of EcobankPay underscores the choice of Ecobank in bringing digital payment solutions for safe, reliable and convenient transactions to both customers and non- customers of the bank. The EcobankPay channel offers a distinct advantage of supporting the three main payment schemes, Masterpass, mVisa and mCash thereby broadening acceptability regardless of which Bank a client makes payment from. The QR Code is much cheaper than having a point of sale (PoS) terminal and credit to the merchant is instant, she noted.
In his comment, Patrick Akinwuntan, Managing Director, Ecobank Nigeria said “we are determined to make Ecobankpay the choice for instant digital payment in Nigeria. This payment solutions was introduced by Ecobank to create payment convenience for goods and services and also to support the growth of businesses especially SMEs.
Further, he reiterated that “Ecobank is impressed with the significant progress made on EcobankPay transactions, as it is gradually becoming a lifestyle payment for all. The initiative is to deepen financial inclusion in the communities and specifically aid business transactions between merchants and clients by eliminating risk of payment rejection. Ecobank has so far set up EcobankPay Zones in over 50 locations in different parts of the country. These are digital hubs enabling businesses within a location adopt Ecobank’s wide range of digital products for ease of payments for goods and services. The payment options at the zones include EcobankPay, Xpress points, Automated Teller Machines (ATMS) and Point of Sale (PoS)”. he noted.
The EcobankPay Zone launched in February 2019 is available at various markets across the country, notably the Alaba International markets, International Trade Fair, Balogun Market, Saka Tinubu Market in Lagos; Relief market Onitsha, Ariaria Market both in South East; Kofa Ruwa and Kantin Kwari Market in Kano; Wuse and Dei-Dei Market Abuja ; Phone Village, Port Harcourt, New Benin Market in Edo State and Main Market Warri amongst several others.
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GTBANK NAMED BEST OVERALL PERFORMING BANK IN NIGERIA IN THE BANKER’S TOP 1000 WORLD BANKS RANKINGS 2026
Guaranty Trust Bank Ltd (“GTBank” or the “Bank“), the flagship banking subsidiary of Guaranty Trust Holding Company Plc (“GTCO” or the “Group“), has been named the Best Overall Performing Bank in Nigeria in The Banker magazine’s Top 1000 World Banks Rankings 2026.
The recognition reaffirms GTBank’s position as one of Nigeria’s leading financial institutions and reflects the Bank’s consistent delivery of strong financial performance, operational excellence, and sustainable growth. The rankings evaluate banks globally using audited financial results, assessing institutions across financial strength, operational efficiency, risk management, liquidity, growth, and profitability.
GTBank ranked 1st Overall as best performing Bank and also ranked 1st in Efficiency and Soundness. The Bank secured 2nd place in other metrics such as Return on Risk, Liquidity, Growth, Leverage and Profitability, demonstrating exceptional performance across all major Banking metrics
Speaking on the achievement, Mrs Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Being named the Best Overall Performing Bank in Nigeria by The Banker is a recognition that means a great deal to us, not just because of the prestige of the publication, but because of what it represents; the hard work of our People, the loyalty of our Customers, and the strength we continue to draw from being part of the Group. Ranking 1st in Overall Performance, Efficiency, and Soundness reflects our disciplined approach to banking, the synergies we harness across the GTCO Group, and our relentless focus on delivering real value. We do not take this recognition for granted. It deepens our resolve to keep raising the bar, to serve our customers better every day, and to remain a Bank that consistently delivers value to all its stakeholders, and to the GTCO Group we are proud to belong.”
This recognition reinforces GTBank’s position as one of Africa’s leading Banking franchises and reflects the strength of its business model, disciplined execution, and sustained investment in innovation. It adds to the Bank’s growing portfolio of international accolades and underscores its enduring commitment to delivering exceptional customer experiences, driving sustainable growth, and creating long-term value for customers, shareholders, and the communities it serves.
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GTCO Launches Second Edition of #BeatTheDistance Initiative, Donating 3,000 Bicycles Across Six States in Nigeria
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has announced the 2026 rollout of its social impact initiative called #BeatTheDistance.This is a nationwide intervention aimed at supporting school children in underserved communities through the provision of bicycles to ease their daily commute to school.
Marking the second edition of the initiative, GTCO will distribute 3,000 bicycles to schoolchildren across six states in Nigeria—Ebonyi, Jigawa, Benue, Oyo, Akwa Ibom, and Ekiti. The programme builds on the impact of its inaugural rollout in 2019 and underscores the Group’s commitment to improving access to education through practical, community-focused interventions.
By helping to reduce the transportation challenges faced by students who travel long distances to attend school, the initiative seeks to improve school attendance, support learning outcomes, and create opportunities for young people to pursue their education with greater ease and confidence.
Speaking on the initiative, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr Segun Agbaje, said: “Education remains one of the most powerful tools for transforming lives and creating opportunities. Through the #BeatTheDistance Initiative, we are supporting students whose determination to learn is often tested by the distance they travel each day to access education. By providing these bicycles, our goal is to create an environment where more children can achieve their full potential by reducing fatigue, improving attendance at school, and expanding learning outcomes for children of school age.
He further added: “At GTCO, we believe that meaningful impact comes from addressing real challenges within communities. #BeatTheDistance is one of the ways we are investing in the future by supporting young people and helping to create conditions that enable them to succeed. We remain committed to initiatives that promote inclusion, expand access to opportunities, and contribute to sustainable development.”
The initiative forms part of GTCO’s broader commitment to social impact and sustainable development, particularly in the areas of education, youth empowerment, and community advancement. By helping students spend less time commuting and more time learning, #BeatTheDistance continues to deliver practical support where it is needed most, empowering young people to pursue their education and unlock their full potential.
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ZENITHBANKCHAMPIONSTRADEANDINVESTMENTAT6THCANADA-AFRICABUSINESS CONFERENCE
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ZenithBankPlcreaffirmeditscommitmenttoadvancingtrade,investmentandeconomiccooperationbetweenCanadaandAfricaastheHeadlineConferenceSponsorofthe6thCanada-AfricaBusinessConference, held on Wednesday, 24 June 2026 at Eko Hotel & Suites, Victoria Island, Lagos.OrganisedbytheCanada-AfricaChamberofBusiness,theconferencebroughttogetherahigh-levelCanadian business delegation representing 31 companies, alongside senior government officials, businessleaders, investors, policymakers, diplomats and development partners. The gathering set out to strengthencommercial relations between Canada and Africa and to position Nigeria as a strategic gateway for Canadianbusinesses seeking opportunities across the continent.The Canadian delegation comprised companies and institutions operating across financial services, security,mining andcritical minerals,legal andprofessional services, infrastructure, technology, healthcare, educationand clean energy. Among those present were GardaWorld, Dentons, Baywood Group, Element, Trilliant andother leading Canadian enterprises exploring commercial opportunities and strategic partnerships in Nigeria.The Executive Director of Zenith Bank Plc, Mr. Akin Ogunranti, who delivered the keynote address on behalfof the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, described the conference as a timelyplatform for deepening commercial partnerships between Canada and Africa amid shifting global economicrealities. He underscored Africa’s readiness to lead the next phase of global economic growth, stressing thatthecontinent now possessestheinstitutions,policy frameworks andpartnershipsrequiredtoturn its immensepotential into shared prosperity.“The question is not whether Africa is rich in potential. It is whether we can turn that potential into prosperityour people can feel. For the first time, the answer is yes, because of the machinery we are now building,” hesaid.RepresentingtheGovernorofLagosState,HisExcellencyMr.BabajideSanwo-Olu,thePermanentSecretary, Ministryof Commerce, Cooperatives, Trade andInvestment, Mr. Babatunde Onigbanjo,reaffirmedthe State Government’s commitment to fostering an enabling environment for investment and internationalpartnerships, and highlighted Lagos’ position as Nigeria’s commercial hub and gateway to African markets.“Canada bringstothe tableconsiderable expertise,capital, innovation,and astrong traditionof institutionbuilding.Africa,andindeedLagos,offerscale.Weoffertalent,creativity,marketopportunitiesandanincreasingly sophisticated business environment. Together, these strengths create a compelling foundationfor transformative partnership,” he said.Speaking at the event, the Deputy High Commissioner of Canada to Nigeria, Mr. Carlos Rojas-Arbulú, notedthattheconferencereflectsthegrowingmomentuminbilateralcommercialcollaborationbetweenbothcountries. He said: “The relationship between Canada and Nigeria is not new. It is rooted in diplomacy, trade,education,culture,migration,andshareddemocraticvalues.Buttoday,Ibelieveweareenteringanewchapter: one that is more ambitious, more practical, and more human.” -
TheChairoftheBoardoftheCanada-AfricaChamberofBusiness,PaulaCaldwellSt-Onge,highlightedNigeria’sgrowing economic significance,saying: “Nigeria’s growth isnot theoretical.It is alreadybeing built byNigerian entrepreneurs, investors, financial institutions, innovators and companies whose ambition reachesacross Africa and around the world.”She also acknowledged Zenith Bank’s role in advancing the conference’s objectives, stating: “Zenith Bank isnot only oneof Africa’s leadingfinancial institutions, it isthe capital behindwhat you seehere today, and itrepresents the skill, ambition, discipline, innovation and excellence that this conference seeks to showcase.”Theconferencefeaturedhigh-levelpaneldiscussionsonCanada-Africacommercialrelations,investmentopportunitiesacrossprioritysectors,andtheimplementationoftheAfricanContinentalFreeTrade Area(AfCFTA). The sessions brought together policymakers, business executives and industry experts to identifypracticalpathwaysforstrengtheningcommercialpartnershipsandacceleratingsustainableeconomicdevelopment.The conference is expected to strengthen Nigeria’s attractiveness as a destination for Canadian investment,while opening new opportunities for technology transfer, private sector collaboration, job creation and long-termeconomicgrowth.ItalsoreinforcesNigeria’spositionasastrategichubforbusinessesseekingtoaccess opportunities across Africa under the AfCFTA, supporting the country’s ambition to expand its role inregional and global trade.
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