• Tuesday, February 27, 2024
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BusinessDay

ICAN appoints Enterprise Bank as collecting bank

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Enterprise Bank has been appointed as a lead and collecting bank for various payment schemes of the Institute of Chartered Accountants of Nigeria (ICAN). The lender made this known in a statement made available to New Telegraph.

A letter from the institute to its stakeholders, titled, ‘Appointment of Enterprise Bank as collecting bank for the Institute of Chartered Accountants of Nigeria (ICAN),’ stated: “We are pleased to inform you that Enterprise Bank has been appointed as a Lead Bank as well as Collecting Bank for various ICAN payment schemes. The schemes include student registration fees, annual subscription, examinations fees, and practising licence fees.

While celebrating the appointment of Enterprise Bank to collect for a body as strategic as ICAN, the lender said the main platform to process all ICAN payment schemes in the bank was the Pay-Direct platform. It added that all branches of the bank had been enabled to seamlessly participate in the collection.

The latest appointment, according to the statement, also indicates an expression of ICAN’s confidence in Enterprise Bank and has added to the growing list of collections the bank undertakes on behalf of the federal and state governments, parastatals and other institutions.

Aside ICAN, the bank also acts as a collecting bank for the Nigerian Ports Authority (NPA) charges, Power Holding Company of Nigeria (PHCN), Joint Admission and Matriculation Board (JAMB), and other educational institutions like the West African Examination Council (WAEC) as well as the National Examination Council (NECO). The rest include the Federal Inland Revenue (FIRS) taxes, state internally generated revenue (state taxes), export levies, Nigeria Export Supervision Scheme (NESS) fees, Custom and Excise duty and DStv, among others.

While thanking ICAN for the confidence reposed in the bank, the statement added that Enterprise Bank will deliver on this assignment with all seriousness on its way to becoming a top collecting bank in the country.