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UBA to Begin Cross-Border Transactions with PAPSS in Q4

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United Bank for Africa Plc (UBA) says it will commence cross-border transactions with the new Pan-African Payment and Settlement System (PAPSS) in the fourth quarter of 2022.

Mr Kayode Olubiyi, Group Head, Digital Banking, UBA, said on Tuesday at a UBA webinar that the reason UBA was selected as the first bank to pilot the payment was because of its Pan-African presence in five of the six-countries selected for the first phase.

The six countries selected for the first phase of documentation and pilots are- Nigeria, Ghana, Sierra Leone, Guinea, Liberia and Gambia.

Newsmen report that the webinar discussed “ Facilitating Cross-border Payments with PAPSS’’, a platform that enables traders make real-time transfers of funds from one African country to another.

“UBA is present in five of these locations, this is one of the reasons why we have been selected because of our pan African presence

“UBA in collaboration with Afrexim Bank will be among the first commercial banks not just in Nigeria, but across Africa to implement PAPSS system.

“UBA is present in 20 African countries and with this initiative, expanding to more countries. We will be able to facilitate seamless cross-border transfers across not just the countries where we are, but across all the 54 countries in Africa,’’ he said.

Olubiyi said that the ability to trade between countries directly in Africa and to make cross-border payments would be opened up in these first set of countries and subsequently would be expanded to the other countries across Africa.

He said PAPSS, a centralised payment infrastructure, put together by Afrexim would facilitate and improve intra-African trade and commerce payments as making payments across border could sometimes be a challenge.

He urged SMEs and business start-ups to leverage PAPSS as it would impact infrastructure and provide a good alternative to payments across Africa and reduced cost in terms of sending money from one country to another.

“These are the things that PAPPSS is coming to address and take out of the way. It will facilitate economic activities among African countries to simple low cost risk control payments, clearing and settlement system,’’ he said.

Monica Oraro , Head, Product and Business Development , PAPSS said that the process for the final integrations was ongoing and the target was to have Nigeria and Ghana running in the fourth quarter of 2022.

“We are just in the process of doing the final integrations, I believe UBA will be one of the first bank to start off transactions; but our target is to have Nigeria and Ghana running in Q4.

“So between next month and December, and then in Q1, we will be focusing on the other four countries- Liberia, Sierra Leone, Gambia and Kenya.

“So, today we are focusing on Africa because of our role in being able to support the coming to light of the African continental free trade agreements; but we also recognise that there is a lot happening between Africa and the rest of the world.

“So in the future, we will look into facilitating payments going maybe out of Africa or coming in, but today, our focus is on all payments that are moving within Africa,’’ she said.

She added that PAPSS was commencing with the banks today and in the future would work with FinTechs so that people could have the ability to not just send money to an account, but also to a mobile number as well.(NAN)

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2027: Tinubu’s Endorsement by APC Govs in Order – TDF

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The Democratic Front (TDF) has dismissed the statement credited to the Coalition of United Political Parties (CUPP) criticising the endorsement of President Bola Tinubu for a second term by members of the ruling All Progressives Congress (APC).Malam Danjuma Muhammad, the Chairman of TDF, in a statement on Monday, stated that CUPP was in no position to dabble into the internal affairs of the ruling party.

“We condemn, in the strongest terms, the unwarranted criticism of President Bola Tinubu’s endorsement by Governors elected on the platform of the ruling APC by the defunct Coalition of United Political Party (CUPP).
“Like an attention-seeking meddlesome interloper, the group described the endorsement of President Tinubu by his party members as their flag bearer in the 2027 presidential election as a desperate bid for power.
“While we are not opposed to CUPP’s right to self-expression as provided by the Nigerian constitution, we expect the leadership of the political interest group, to show respect for APC’s right to conduct its internal affairs within the limit of its constitution,” said TDF.The group said it recalled that in the run-up to the presidential elections in 2019, the then CUPP and its leadership threw its support behind the candidature of the former Vice President Atiku Abubakar of the People’s Democratic Party (PDP).“And of course, it backed Labour Party’s Peter Obi in 2023, especially as its National Secretary, Peter Amen, even contested for a seat in the House of Representatives in Kogi State on LP’s platform.“So, it is clear that the current CUPP leadership has always been opposing the ruling party.“Furthermore, the CUPP should be reminded that APC has a precedence of picking an incumbent president as its presidential flag bearer through the consensus of members of the Party,” the group stated.It said CUPP’s stance on APC’s internal affairs of the APC amounted to overstepping its boundaries as well as a flagrant disregard for the constitutional rights of others.“We, therefore, urge Nigerians to see the CUPP for what it is: a partisan opposition to the ruling APC. It is simply a Special Purpose Vehicle (SPV) concocted with a narrow mindset to achieve personal political aggrandisement,” said TDF.It added that there was nothing wrong with President Tinubu’s endorsement at the recent APC summit because it was the party’s internal affairs. (NAN)

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Plateau Pilgrim Dies in Makkah

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Hajiya Jamila Muhammad, a pilgrim from Plateau has died in Makkah. Mr Daiyabu Dauda, the Executive Secretary of the State’s Muslim Pilgrims Welfare Board, disclosed this in a statement issued to newsmen on Tuesday in Jos. Dauda said that the pilgrim died on Monday at the King Abdul’aziz hospital, Makkah due to complication from diabetes.

“When the complications began, we immediately took her to the hospital for proper medication inline with our mandate.
“Unfortunately, we lost her and the doctor at hospital confirmed it was complications due to diabetes,”he said Dauda further said that the deceased has since been buried in Makkah according to Islamic rites. He condoled with her immediate family over the irreparable loss and urged them to take solace in God.
(NAN)

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Bauchi APC Chieftain Congratulates Dogara On Appointment As NCGC Chairman

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By Ajiya Ayuba, Bauchi

The Bauchi State stakeholder of the All Progressive Congress (APC), Honorable Solomon B. Solomon on Monday congratulated the former speaker of the House of representatives, Rt Honorable Yakubu Dogara on his appointment as Board Chairman of the National Credit Guarantee Company Limited NCGC.

Solomon who is also the former candidate of the party for Lere/Bula constituency in the last general election and the football club owner of the Zaar academy, said that Dogara’s track records will make him to lead with integrity.
He said that the appointment of Dogara as Chairman will definitely make things easy and also bring development to the country.”On behalf of myself, family and esteemed supporters, I wish to extend heartfelt congratulations to my boss, mentor the former speaker of Nigeria, RT Honorable Yakubu Dogara, as the pioneer Chairman of the National Credit Guarantee Company Limited (NCGC) by President Ahmed Bola Tinubu””The widespread jubilation that greeted the announcement in Bauchi State and across the nation is a testament to the fact that Mr.
President’s choice perfectly aligns with the Renewed Hope Agenda”According to him said that “This initiative aims to strengthen confidence in the financial system, expand credit access, and support underserved groups such as women and youth””As I congratulate my mentor and leader, Rt. Hon. Yakubu Dogara, I urge all Nigerians to join us in felicitating him on this appointment. Given his proven track record of transparency, effective service delivery, and accountability during his tenure as Speaker of the 8th Assembly, we have every reason to believe he will lead the agency with integrity”The former candidate of the All Progressive Congress APC in the last general election, Honorable Solomon B. Solomon urged people to continue praying to the new board Chairman of the National Credit Guarantee Company Limited, Rt Honorable Yakubu Dogara.

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