FirstBank Sponsored National Company of the Year winners claim 4 awards in Africa Company of the Year contest

Taidob College Abeokuta, winners of the 2019 National Company of the Year Competition (NCOY) organized by Junior Achievement Nigeria and sponsored by First Bank of Nigeria Limited on Friday 6 December 2019, represented Nigeria in Ghana at the 2019 African Company of the Year competition. Taidob College left Ghana with four awards in the keenly contested competition, comprising representatives from 10 other Junior Achievement member countries in Africa, notably from the Kingdom of Eswatini (Swaziland), Ghana, Zambia, Gabon, Uganda, Zimbabwe, Mauritius, Botswana, Kenya and South Africa. Team Nigeria (represented by Taidob…

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Access Bank to reward loyal customers in N50m DiamondXtravanganza

In its usual way of rewarding customers for their loyalty, Nigeria’s leading retail bank Access Bank Plc has unveiled DiamondXtravanganza – a reloaded Diamondxtra reward scheme specially packaged to reward customers this yuletide season. DiamondXtravaganza will feature three different draws; Senior citizens draw, Women’s draw and the National quarterly draw this December. According to Adaeze Umeh, Group Head, Consumer Banking, Access bank Plc, “As we approach the season of giving and receiving, we at Access Bank also want to recognise our loyal customers and reward them for being with us…

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Access Bank names Dere Awosika as new chairman

Dr Ajoritsedere Awosika has been named as the new Chairman of Access Bank Plc by the Board of Directors of the bank. The bank’s Company Secretary, Mr Sunday Ekwochi, said in a statement on Tuesday in Lagos that Awosika would assume the position of the company’s Board Chairman on Jan. 8, 2020. Ekwochi said that Awosika’s appointment was apt to lead the board in the next phase of the bank’s transformation into becoming Africa’s Gateway to the World. According to the statement, Awosika will take over from Mrs Mosun Belo-Olusoga…

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How FirstBank FINTECH Summit is contributing to bridge Nigeria’s financial inclusion, By Bala Augie

As financial solution providers continue to face stiffer competition globally from Fintech startups and emerging technologies such as blockchain, cryptocurrency and crowdfunding, and the increasing level of disruption in the traditional mode of payment and business models, technology holds the key to unlock the potentials in the financial service sector across Africa through Fintech. As the banking sector continues to find newer ways of engaging and providing customer centric services to bridge the current level of unbanked and under banked population to achieve Nigeria’s 2020 financial inclusion target, the fallout…

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Heritage Bank empowers 2000 female entrepreneurs via financial inclusivity initiatives

Taking into consideration the importance of Micro, Small and Medium Enterprises (MSMEs) to the economy, Heritage Bank Plc has continued to structure financial inclusivity initiatives in empowering over 2000 female entrepreneurs towards economic enablement and self-realization. This move is in line with the people-oriented policies of the Central Bank of Nigeria (CBN), Heritage Bank Plc is partnering with a Non-Governmental Organization, Prime Women Builders Foundation of Nigeria (PWOBFON) in providing skills training to the female entrepreneurs. At the graduation ceremony/ certificate award ceremony held at  Ikeja Local Government headquarters over…

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Shareholders set to dump Forte Oil for new name

Forte Oil Plc on Monday notified its shareholders of plans for a name change to Ardova Plc. The company stated this in a notice of Extra General Meeting posted on the Nigerian Stock Exchange website and signed by Oladeinde Nelson-Cole, the Acting Company Secretary. The company would be seeking shareholders’ resolution for a name change at an EGM slated for December 17. Nelson-Cole said its directors at the meeting would be empowered to authorise, approve, sign or execute all documents and appoint advisers regarding the matter, where necessary. The acting…

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“Its all lies! I didn’t do it” – Air Peace boss, Onyema reacts to US fraud story

The Chairman/CEO of Air Peace,  Allen Onyema has denied allegations of bank and money laundering levelled against him by the United State Justice Department. The US Attorney’s Office in the Northern District of Georgia had in a charge accused Onyema of money laundering “for moving more than $20 million from Nigeria through United States bank accounts in a scheme involving false documents based on the purchase of airplanes.” According to the US Department of Justice statement released on Friday, Onyema’s Chief of Administration and Finance, Ejiroghene Eghagha, has also been…

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FBNHOLDINGS: Setting the tone for gender inclusiveness, balance in boardroom

By Hope Ashike In many parts of the world, including Nigeria, women often face the barriers of discrimination and persistent gender inequalities which deny them access to key positions in the corporate world as well as access to finance or the formal economy. Women make up almost half of the world’s working-age population of nearly 5 billion people. But only about 50 percent of those women participate in the labour force, compared with 80 percent of men, according to a report by the International Monetary Fund (IMF). The IMF’s research…

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FirstBank’s Lagos Amateur Open Golf Championship achieves global recognition with WAGR listing

 Nigeria’s premier and leading financial services provider, First Bank of Nigeria Limited has announced that the FirstBank Lagos Amateur Golf Championship scheduled to Tee-Off on Friday, 15 November 2019 is now listed amongst the golf tournaments in the World Amateur Golf Ranking (WAGR). The WAGR isoffered by the R&A and the United States Golf Association as a global service to golf.  Through incorporation and assessment worldwide of both amateur and professional events, WAGR™ encourages the international development of the competitive game. Since 1894, FirstBank has continued to promote the growth and development…

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IWEC Foundation names Awosika President

The International Women’s Entrepreneurial Challenge Foundation (IWEC)  has announced the appointment of Ibukun Awosika to their Board of Directors as its New President. Awosika is the Chairman of First Bank of Nigeria Limited, Nigeria’s Premier and Leading financial services provider. Mrs. Awosika was elected to replace Miguel Valls, former president of the Barcelona Chamber of Commerce and president of the IWEC Foundation, who passed away last month. “The Foundation is very excited to announce the appointment of our new president,” stated Ruth A. Davis, IWEC Chairwoman and distinguished former U.S. Ambassador. “Ibukun Awosika has…

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EFCC docks FCMB, 2 staff for fraud and criminal negligence

The Economic and Financial Crimes Commission (EFCC), has arraigned a new generation bank,  First City Monument Bank, FCMB alongside two of its employees-Timothy Shoon, an account officer and Obende Thomas, head of operations-before Justice Mobolaji Olajuwon of the Federal High Court, Makurdi, Benue State on three-count charges bothering on advance fee fraud and criminal negligence.  One of the charges reads: “That you, First City Monument Bank being a financial institution, sometime in February, 2018, in Makurdi within the jurisdiction of this honourable court, as a result of your negligence, failed…

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Fidelity Bank on course to deliver on 2019 financial targets as Q3 Profits Hit N23bn

Fidelity Bank Plc has posted an impressive financial performance for the 3rd Quarter of 2019 and is on course to finishing strong in the 2019 Financial Year (FY). Details of the 9-months results for the period ended September 30, 2019, released on Tuesday at the Nigerian Stock Exchange (NSE) showed strong double-digit growth in revenues, deposits and profitability etc. Gross Earnings grew by 16.3 per cent to ₦161.4 billion from ₦138.7 billion reported in the same period in 2018 whilst profit-before-tax soared by 14.7 per cent from ₦20.1 billion to ₦23.0 billion.  In other…

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YEA 6: Fidelity Bank, Gazelle Empowers Over 200 Youth With Entrepreneurial Skills

Determined to reduce unemployment levels in the country, Fidelity Bank Plc, in partnership with Gazelle Academy and the Nnamdi Azikiwe University, Awka on Friday concluded an entrepreneurship training programme for over 200 students in Anambra State. The programme which formally kicked off Wednesday ended with a call to Nigerian youths to embrace entrepreneurship and create wealth for themselves instead of searching endlessly for non-existing paid jobs. Organised under the Fidelity Youth Empowerment Academy (YEA 6), the programme seeks to empower the Nigerian undergraduate with vocational skills and enterprise training which…

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FirstBank celebrates top performing FirstMonie Agents nationwide

In recognition of the contribution of its Firstmonie Agents towards the Bank’s resolve at promoting access to financial services to all Nigerians, First Bank of Nigeria Limited has announced that its Agent Banking National award ceremony would hold on Friday, 25 October 2019 at the Oriental Hotel, Lagos. The event is themed “Planting Community Heroes Nationwide”. Since its inception in 2017, the FirstBank Agent Banking scheme, popularly called Firstmonie, has recorded giant strides at promoting financial inclusion across the nook and cranny of the country. With almost 40,000 Agents in…

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Access Bank, others launch first United Nations Global Compact Nigeria

Nigeria’s largest retail bank and sustainability champion, Access Bank Plc., has joined other organisations to launch the first-ever United Nations Global Compact (UNGC) sustainability compendium in Nigeria. The compendium, which was launched recently at the UNGC Breakfast Dialogue, documents some of the stellar efforts of the Bank, its sustainability journey and its strategic collaborations to facilitate socio-economic development. Launching the compendium, the former Group Managing Director, Access Bank Plc., Aigboje Aig-Imoukhuede urged corporate organisations and SMEs to invest in and practice sustainability. Highlighting this as the primary solution to achieving…

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FG to combat national power outage with $1.61bn

The Managing Director, Transmission Company of Nigeria, Alhaji Usman Gur says the Federal Government in collaboration with international donor agencies has set aside over 1.61 billion dollars to ensure constant power supply in the country. Gur, who is also the Chief Executive Officer of the TCN revealed this on Sunday in Kano State while briefing newsmen at the Kumbotso power sub-station. According to him, the project will be carried out under the Transmission Rehabilitation Expansion Programme. “We are rehabilitating and expanding to degree 20, 000 Mega Watts by 2022 across…

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FirstBank: Towards reviving Nigeria’s textile industry

FIRST BANK: TOWARDS REVIVING NIGERIA’S TEXTILE INDUSTRY By Chinyere Joel- Nwokeoma (NAN) For many years, until the early 1980s, the Nigerian textile industry was the highest employer of labour, after the public sector. Sadly, the industry is in dire straits battling for survival in recent times. Among the challenges that confronted the sector were policy inconsistency leading to the closure of many textile companies occasioned by poor power supply, smuggling, poor access to finance and high operating cost, among others. It is unarguable that the closure of many textile companies…

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FirstBank’s CEO, Adeduntan in Edinburgh for Ethical Finance Conference

As part of the Bank’s financial inclusion and global thought leadership drive, the Chief Executive Officer, First Bank of Nigeria Limited, Dr. Adesola Adeduntan participated in the 2019 Global Leaders Interactive panel session of the 2019 Ethical Finance Conference held on 8 – 9 October 2019 at RBS Conference Centre, 175 Glasgow Road, Gogarburn, Edinburgh. The event had in attendance over 500 leading finance practitioners from all over the world. The Bank’s CEO, Dr. Adesola Adeduntan, with other thought leaders, policy influencers and leading finance practitioners across the world deliberated on…

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“This is our drive to improve the quality of education,” says UBA Foundation boss at 2019 call for entries

UBA Foundation, the corporate social responsibility arm of the United Bank for Africa (UBA) Plc, has commenced the 2019 edition of its annual National Essay Competition in Nigeria with a call for entries. Now in its 9th year, the essay competition, targeted at senior secondary school students in Nigeria is organised annually, as part of UBA Foundation’s education initiative which is aimed at promoting the reading culture and encouraging healthy and intellectual competition amongst secondary school students in Nigeria and across Africa. At the media launch which took place at…

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FBNQuest Trustees celebrate 40yrs of leadership in legacy preservation

FBNQuest Trustees Limited, an FBN Holdings company has announced the celebration of its 40th anniversary as a leading provider of world-class trust and estate planning services in Nigeria. The event themed “A Legacy that Preserves Legacies” was held on Friday, 13 September 2019 at Landmark Event Centre in Lagos. The event presented an opportunity for FBNQuest Trustees to share key insights on the importance of Corporate Trust Management, Estate Planning, and Wealth Transfer, which are crucial elements to ensuring the preservation of legacies. Dr. Omobola Johnson, Senior Partner at TLcom Capital LLP…

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Unity Bank to help farmers reduce post-harvest loses

Unity Bank Plc has reiterated its commitment to lending more to farmers and supporting them in getting more value for their farm produce.The bank is partnering with Binkabi, a blockchain-based commodity trading network to ensure that farmers get the right pricing and profitability for their produce.The Head, Risk Management and Compliance, Unity Bank, Usman Abdulqadir, said the collaboration would also help to provide end-to-end solutions for farmers and the entire agribusiness value-chain.Abdulqadir, who spoke at the launch of an agro commodities trade platform in Lagos, said, many farmers who harvest…

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LASG commends Fidelity Bank For Donating Laboratory To Correctional Home

Fidelity Bank Plc, top Nigerian lender has handed over a well-equipped, state-of-the-art Kitchen/Catering Laboratory for the use of students at the Girls Correctional Home, Idi-Araba, Lagos. The project, according to the bank, is a clear demonstration of its unwavering support towards enhancing the lives and wellbeing of less privileged members of the society. Speaking at the commissioning ceremony in Lagos recently, the bank’s Managing Director/Chief Executive Officer, Nnamdi Okonkwo said that the decision to embark on the project is borne out of a deep-seated realisation that vocational education remains vital…

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Wema Bank’s ALAT bags best digital platform

ALAT by Wema, Africa’s first fully digital bank, has emerged Best Digital Platform in Nigeria 2019 by International Business Magazine, a leading global journal that promotes flagship talent bearers from across the globe. Having met the award criteria for the year under review, the banking platform powered by Wema Bank was judged the winner by a deciding panel in recognition of its simplicity and refreshing service delivery. ALAT by Wema is a borderless banking app that offers an easy signup process, exciting saving options and other benefits to help customers…

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UBA announces growth, profit, in newly released audited result

The United Bank for Africa Plc (UBA) has announced its audited half-year financial results for the period ended June 2019, showing impressive growth across key performance indices as well as a significant contribution from its African subsidiaries. In spite of the increasingly unpredictable environment witnessed in some of its countries of operations, the pan African financial institution delivered double-digit growth in its profit before tax as it rose by 21 per cent to N70.3 billion half-year to June 2019, up from N58.1 billion recorded in the similar period of 2018,…

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Ex-C/Rivers Gov., Duke loses Ikoyi property to AMCON, UBA over N537m Debt

A Federal High Court in Ikoyi, Lagos, has ordered the Asset Management Corporation of Nigeria and United Bank for Africa to take over a property belonging to a former governor of Cross River State, Donald Duke. Justice Chuka Obiozor made the order following an ex parte application filed by AMCON and UBA. The property was to be forfeited over an alleged debt of N537,334,360.77. Listed as first to third defendants were Stonehedge Investment Limited, Donald Duke and Owunari Bob-Manuel Duke, respectively. The applicants had prayed the court for “an order…

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Wema Bank, Dana Air in EFCC trouble over alleged money laundering scam

Wema Bank Plc and Dana Air, owners of Sri Sai Vandana Foundation, a Non-Governmental Organisation (NGO) are enmeshed in a money-laundering scam and may be prosecuted by the Economic and Financial Crime Commission, EFCC over Dana Air’s inflight donation collected between 2014 and 2018. Speaking on the allegations, EFCC’s acting spokesman, Tony Orilade said “The EFCC will take it up. We will investigate and prosecute the crime element once prima facie is established,” Dana started Nigeria’s Sri Sai Vandana Foundation in 1995 and commenced the inflight donation in partnership with…

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Electricity: FG injects N600bn

The Market Operator of the Transmission Company of Nigeria (TCN), Engr. Edmund Ejie, on Wednesday, disclosed that the Federal Government has approved N600billion for injection into the nation’s electricity market. He broke the news to reporters at the Market Operator’s Participants/Key Stakeholders 2019 3rd Quarter Interactive Forum in Abuja. He said that the fund is ripe for disbursement any moment from now. According to him, the intervention is for the payment of the shortfall in electricity invoices for the entire market. He noted that the intervention is not restricted to…

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UBA Marketplace 2019 holds in Abuja

Africa leading financial institution, United Bank for Africa (UBA) Plc is set to host over 20,000 visitors, 120 small and medium enterprises and leading private and public sector players from across Africa, at the continent’s biggest entrepreneurial fair tagged #theUBAmarketplace2019 in Abuja, Nigeria. The event, which will be held on July 26th and 27th 2019, on the sideline of the Tony Elumelu Entrepreneurship Forum, will host businesses and business owners in various industries including food, fashion, beauty, home/interior and gadgets. The event will offer plenary sessions and discussions on the…

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Access Bank UK pledges N350m for Children in Education, posts impressive result

The Access Bank UK used its’ annual Access Bank Polo Day at Guards Polo Club Windsor on Saturday 13 July to post results showing another year of outstanding international business growth. 2018 was the year that it joined the three key UK clearing systems, and collected the best African Trade Finance Bank Awards from both International Finance and CFI. All four strategic business units returned double-digit growth and in only its second year of operations, the importance of its investment in Dubai was demonstrated by a 200 per cent increase…

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