Citi has been doing business in Nigeria since 1984. The bank formerly operated under the name Nigeria International Bank Limited, but was renamed to Citibank Nigeria Limited (Citi Nigeria) in 2008 to fully align with Citi’s global brand and identity.
The bank has a strategic business focus in Nigeria specializing mainly in Corporate Banking and servicing mostly corporate clients. Citi Nigeria offers a broad range of services, including global transaction services, sales and trading, corporate finance and investment banking services to corporate and commercial customers, financial institutions (including other banks) and public sector organizations.
Within the industry, Citi is known for its innovation as it has successfully leveraged its global network and extensive knowledge base to offer its Nigerian clients innovative products and services.
Businesses
The bank offers a broad range of services, including transaction services, sales and trading, corporate finance and investment banking services to corporate and commercial customers, financial institutions (including other banks) and public sector organizations.
In August 2008, Citi launched its Direct Custody and Clearing Services in Nigeria, the 53rd market on its proprietary network – the largest in the world. The DCC business will facilitate business transactions for clients and investors looking to do business in Nigeria.
With 12 branches across the country, Citi Nigeria continues to develop innovative products and services for its customers in and around strategic locations.
Sustainability
At Citi Nigeria, we are committed to the needs of the communities in which we operate. By driving sustainability through corporate citizenship, we have developed an Environmental and Social Risk Management (ESRM) Policy, which includes categorization requirements, environmental due diligence, elevated review and approval requirements for the following transaction types:
corporate and government loans
project finance
equity transactions
acquisition finance
letters of credit
bid and performance bonds
project finance advisory mandates
In 2003, Citi was pivotal to the development of the global Equator principles. These standards serve as a voluntary set of guidelines for managing environmental and social risk issues. They are utilized for the funding of development programs such as project financing and advisory with capital costs of over US$10 million.
It is important to state that these principles have been vetted by the World Bank and the International Finance Corporation (IFC). Similarly, Citi has implemented guidelines to manage risks in corporate loans, debt securities and underwritings greater than US$50 million where use of proceeds is known.
Corporate Social Responsibility
Citi Nigeria is very active in community activities in Nigeria. As part of the Citigroup family, the bank, through its global charitable arm, Citi Foundation, supports various non-government organizations (NGOs) in Nigeria.
The Citi Foundation is committed to enhancing economic opportunities for underserved individuals and families in the communities where we work throughout the world. Globally, the Citi Foundation is focusing its giving on microfinance and micro entrepreneurship, which helps individuals become economically self-sufficient; small and growing businesses leading to economic expansion and job creation; education, which prepares young people for personal and professional success; financial education, which helps individuals make informed financial decisions; and the environment with a focus on sustainable enterprises that generate jobs and stimulate economic growth while preserving the environment.
In 2013, continuing Citi’s long-standing tradition of supporting local communities in which we do business, Citibank Nigeria Limited’s Board of Directors approved charitable donations of over $95,000 to more than 30 charitable organizations across Nigeria.
In 2012, Citi Nigeria and Citi Foundation disbursed grants of more than $320,000 (USD) to Nigerian NGOs to support programs such as micro entrepreneurship, financial education, and youth education. The recipients of the grants include Junior Achievement Nigeria, LEAP Africa, Fate Foundation, Hope Worldwide Nigeria and Growing Businesses Foundation.
In 2011, in line with the strategic initiatives of the Central Bank of Nigeria and the economic development goals of the Federal Government, Citi launched the Citi Microenterprise Development for Rural Farmers Initiative (CMDRFI). The program began with a pilot in Gabasawa LGA, Kano where over 100 farmers were selected and participated in financial literacy programs after which they were provided low interest loans to support and grow their farming businesses.
Annually, the bank holds its Global Community Day activities. All staff of the bank (globally) are encouraged to volunteer and do community work on the day. More than 500 people participated in last year’s global community day activities in Lagos, Abuja and Port-Harcourt.
Local Branch Expansion
Citibank Nigeria has 12 direct branches and more than 1,500 partner bank locations strategically situated across the country, enabling proximity to our clients, and allowing us to be responsive to their needs. Also, through Citi’s innovative electronic banking platform, CitiDirect®, our clients are able to transact business with us at any time of the day, even from the comfort of their offices.About the job
The Payments Operation Analyst is an intermediate level role responsible for executing complex transactions and participating in complex processes in coordination with the Branch Services team. The overall objective is to act as a subject matter expert while processing all regular payments.
Responsibilities:
Performing processing activities (processing local, cross border payments, other transactions e.g. expense tickets, Tax collections, counter cheques, check deposits, Vault Operations and Cash – In – Transit management) and managing supporting documentation related to payments
Proper handling of customers instruction brought to the branch and ensure correctness as well as managing various customer requests (in person and on phone) on daily basis
Conducting communication with all stakeholders including clients, internal partners, regulators particularly Central Bank of Nigeria, Nigeria Customs Service and Scanning & Risk Service Providers
Solving current processing issues and taking action in order to optimize the process
Compliance with applicable regulatory guidelines, laws of Nigeria and Citigroup corporate policy, local procedures, product programs and international conventions
Preparation and sending of regulatory reports to the relevant regulatory Bodies
Qualifications:
Minimum of 6 years post qualification experience
Bachelor’s/University degree
Fundamental comprehension of financial industry regulations
Effective communication in both written and spoken English
Well-developed analytical skills including investigative mindset, independence in problem solving and a keen eye to detail
Risk awareness
Good knowledge of Microsoft Office preferred
