Ahead of $1Billion IPO, Interswitch name Kenneth Olisa as New Chair


Interswitch a leading integrated payment and switching company with offices in Lagos, Nigeria and other part of Africa has named Kenneth Olisa as its new Chairman.

Olisa’s appointment followed investment by TA Associates in Interswitch in March, the management business expansion drive, and plan for $1Billion IPO scheduled 2018.

Olisa brings on board the wealth of experience as a British Business man with a career in technology spanning over 40 years.

ATM & Internet Banking gets the big chunk of Nigeria’s rising eFraud profile


A total of 2 billion Naira was lost through the Nigerian banking e-channel in 2012 sources disclosed. Accounting for over 65% of the total fraud cases in the year, majority of the fraudulent transactions were perpetuated though ATM, Fraudulent transfer/withdrawals, and Internet banking channels.

Speaking at the 12th Quarterly General Meeting of the Committee of Chief Inspectors of Banks in Nigeria (CCIBN) in Lagos, Managing Director and Chief Executive Officer of Fidelity bank Plc, Mr. Reginald Ihejiahi expressed the lack of co-operation among banks as a growing concern. The present silence among banks on ATM frauds makes it difficult for banks to share vital information that would help curb the menace, the fidelity bank chief emphasized