FIRSTMONIE AGENTS TRANSACT OVER 1 BILLION TRANSACTIONS, REINFORCES FIRSTBANK’S LEADING ROLE IN PROMOTING FINANCIAL INCLUSION IN NIGERIA
The Bank’s Firstmonie Agents play a critical role in promoting financial inclusion in the country
The Bank currently has over 180,000 Firstmonie Agents spread across 772 Local Government Areas in Nigeria
Since 2020, FirstBank has economically empowered thousands of its Firstmonie Agents with over 100 billion naira credit facility
FirstBank of Nigeria Limited, Nigeria’s premier and leading financial services provider has announced that its agent banking network – Firstmonie Agents – spread across the nook and cranny of the country has collectively processed transaction volume in excess of 1 billion, amounting to over 22 trillion naira. The Bank currently has over 180,000 Firstmonie Agents, spread across 772 of the country’s 774 Local Government Areas.
Firstmonie Agents have been integral to bringing financial services closer to the underbanked and unbanked segment of the society, providing convenient banking services that are easily accessible, thereby saving time and travel costs for individuals in the suburbs and remote environments with no access to financial services.
Popularly referred to as the ‘Human ATM’, Firstmonie Agents are empowered to reduce the reliance on over-the-counter transactions while providing convenient personalized services. Amongst the services carried out by the Agents include; Account Opening, Cash Deposit, Airtime Purchase, Bills Payment, Withdrawals and Money Transfer.
Through various empowerment and reward schemes implemented to put its Firstmonie Agents at an advantage to economically impact their immediate communities whilst importantly having their business sustained, the Bank’s Agent Banking scheme has remained a toast to Nigerians, irrespective of where they are in the country. Amongst these schemes is the Agent Credit – launched in 2020 – which has had the Bank provide credit facilities to the tune of 238 billion naira to its teeming Firstmonie Agents.
Expressing his appreciation to the Firstmonie Agents, Dr. Adesola Adeduntan, CEO, FirstBank said “since the relaunch of our Agent Banking scheme in 2018, our Firstmonie Agents have played a vital role in bridging the financial inclusion gap in the country, as many more people have been able to undertake various financial and business transactions in cost-effective ways, thereby saving a lot of time and money in travelling over long distances for basic banking services.”
“We are delighted by the giant strides of our Firstmonie Agents in promoting financial inclusion and commend them for their efforts in taking banking to the doorsteps of Nigerians – irrespective of where they are – in a very effective way”, he concluded.
Wema Bank Press Release: Formal Statement on Purported Forgery of Cheque and Inappropriate Arrest warrant on Managing Director
Mr Ademola Adebise, Managing Director Wema Bank Plc
The attention of Management of WEMA BANK PLC has been drawn to the trending news in the media to the effect that a Magistrate’s Court in the Federal Capital Territory (FCT), Abuja, had issued a warrant for the arrest of our Managing Director, MR. ADEMOLA ADEBISE, in connection with a Garnishee proceeding for the payment of a judgement-debt on behalf of the Bayelsa State Government.
WEMA BANK PLC would like to use this medium to refute the allegations and dismiss the gross representation of facts in regard to the material facts, and the apparent breach of the principles of fair hearing before such order of the court was entered against our Managing Director.
WEMA BANK PLC wishes to state that, contrary to the facts presented before Her Worship, Mrs. Elizabeth Jones, the said set of five cheques for the total sum of N50m issued in protest based on pending applications before an Abuja High Court then, were in favor ofthe Chief Registrar FCT High Court, not in favour Barrister. George Haliday who is now claiming the proceeds of the cheques. It is important to note that those cheques were not signed by MR. ADEMOLA ADEBISE and had not assumed the position of the Managing Director of the bank at the material time the cheques were issued in favour of the Chief Registrar.
Furthermore, we would like to state that the five cheques issued in protest by our Bank were not dud cheques as alleged by the complainant. The cheques have only not been cleared for payment because of the subsisting Appeal at the Court of Appeal Abuja on the Garnishee proceeding which has now been decided in favour of the bank. It was after Barrister George Haliday lost at the Appeal Court that he resorted to a Magistrate Court in Abuja to lodge a complaint about issuance of dud cheques. It is very worthy of note that the judgement debt against Bayelsa State Government, which Barrister George Haliday attempted to enforce by a garnishee proceeding, thereby leading to the issuance of the cheques in question had been settled by Bayelsa State Government via a Terms of Settlement between Barrister. George Haliday and the Bayelsa State Government at the Supreme Court.
WEMA BANK wishes to state that the warrant for the arrest of MR. ADEMOLA ADEBISE is in violation of his fundamental rights to fair hearing as he was never personally served with any process to appear before the Magistrate Court, neither was he represented in court. We are a law-abiding corporate citizen; if there was any court summon properly served on the Managing Director for his appearance in court, he would have done so without fail. But, in this case, there was no such service extended to him or any court processes personally served on him to appear in court until a warrant of arrest was issued in absentia. We view the arrest warrant as being an infringement on his fundamental rights.
We, therefore, refute and dismiss in their entirety the allegations of dud cheque and forgery levelled against our Bank and the Managing Director. We also dismiss the inappropriate issuance of bench warrant on our Managing Director. We are already engaging in legitimate actions to seek redress and bring all the perpetrators of these unprofessional conducts and heinous criminal act against our Managing Director and the bank to book.
WeForGood, IHS Nigeria Boost Youth Enterprises with $250,000 Grant
From left: Yejide Aina, CEO, The Illuminator Academy; Oluwatoyin Aralepo, Director, Corporate Excellence & Programme Mgt, IHS Nigeria Ltd; Cima Sholotan, Director, Sustainability and Corporate Communications, IHS Nigeria Ltd; Martin Abraham, Asst Director, Training & Development, IHS Nigeria Ltd; Temitayo Ade-Peters, CEO, WeForGood International; Ireayo Oladunjoye, Head Startups, LSETF and Sandra Iheanacho, Human Resources Consultant at the UN World Youth Skills Day Conference themed “Promoting Eco-Focused Solutions, Africa’s Pathway To Sustainable Growth” held in Lagos at the weekend
ALagos based non-governmental organisation, WeForGood International, through the support of organisations such as IHS Nigeria, has disbursed N104 million to viable eco-friendly sustainable enterprises owned by young African entrepreneurs between 18 and 35 years.
This was disclosed last weekend in Lagos by the Chief Executive Officer of WeForGood, Ms. Temitayo Ade-Peters, during the 2022 Sustainable Solutions Africa Project Conference to mark the United Nations’ World Youth Skills Day with the theme “Promoting Eco-Focused Solutions Africa’s Pathway to Sustainable Growth.”
Ade-Peters said: “In the past three years, through our fellowship programme, we have directly supported close to 60 African startups with training and coaching and facilitated over $250,000 to promote sustainable solutions on the continent.
“We’ve reached about 1,400 youths and entrepreneurs exploring skills for impact to further scale their reach. The start-ups we support run for-profit and not-for-profit businesses addressing one or more areas of the SDGs.”
She said that the conference was focused on innovative solutions that addressed SDG-focused environmental challenges and to provide strategies that would help youths to harness and maximise their skills and talents in response to the increasing call for climate actions, adding that “every young person here will leave this conference well inspired to embrace and explore opportunities to build a sustainable Africa.”
She said that enterprises that qualified for funding from the organisation must be economically viable and have eco-solutions projects that would enhance environmental sustainability.
She also said that “through the support of IHS Nigeria, we have opportunity for young people to get up to N3 million to support their individual projects” that could be used to create sustainable solutions to solve Africa’s problems.
The Senior Special Assistant to the President on Sustainable Development Goals (SDGs), HE, Mrs. Adejoke Orelope-Adefulire, in her special remark during the conference said that the participation of youth in the advocacy for a real shift is essential in order to combat climate change.
Orelepe-Adefulire said: “Government, private sector and civil society must all look towards young people, as we aim to strengthen both formal and informal education on climate change and viable lifestyles. In addition, sustainable production and consumption patterns must be promoted and supported by the youth as environmental champions in their local communities.”
She added that “we are partnering with UNDP to launch six SDG Innovation Hubs across the country which will prioritise the engagement of young people as catalysts for innovative technical, technological and business solutions to help us accelerate the achievement of the SDGs.”
A panelist during the conference, who is also a Human Resources Consultant, Mrs. Sandra Iheanacho, said that education is very essential to produce young Nigerian entrepreneurs that would become job creators.
Iheanacho said: “To take care of tomorrow we have to prepare by taking care of the education of our youths that are capable to create jobs.”
The Chief Executive Officer of The Illuminator’s Academy, Ms. Yejide Aina, who was among the panelists during the conference, said that Nigerian youths need quality educational curriculum that would equip them with innovative and entrepreneurial capacity to create economic opportunities in the country’s economy.
Another panelist who is the Head, Startups, Lagos Innovates LSETF, Ms. Ireayo Oladunjoye, tasked young entrepreneurs to acquire skills that would imbue them with leadership skills to influence their environment.
The Director, Corporate Excellence and Programme Management at IHS Nigeria, Ms. Oluwatoyin Aralepo, advised the young entrepreneurs to base their entrepreneurial development on three leadership ladders of personal vision, higher standard and influence.
Aralepo said: “Leadership has to be strategic and patient to be able to carry all members of the team along to achieve the group’s objectives.”
Apart from the intellectual discussions that gave participants a rich time of learning and networking opportunities, the conference, anchored by the delectable Woli Arole, also featured other side attractions such as entertainment, quizzes and raffle draws with amazing gifts such as laptops, home gadgets among others won by attendees.
Interested participants can register to apply for the next cohort of the Sustainable Solutions Africa Fellowship Program for free by visiting this link https://bit.ly/SSAfricaFellowship2022 and more information is available on WeForGood’s website: www.weforgood.org.
AFRIMA 2022: Entry Submissions End In 3 Days…Who Will Lead Africa’s Groove?
IT’S three days till the closing of the entry submission portal for the All Africa Music Awards (AFRIMA) 2022. Entry submission deadline remains Friday, August 5, 2022. If you are an entertainer, or you are acting on behalf of one, don’t lose out on a chance to #WINITALL by submitting your song/video.
LIRS Set To Launch Whistle-Blower Initiative August 5
The Lagos State Internal Revenue Service (LIRS) is set to launch its Whistle-Blower initiative, a state-wide project, introduced to provide a platform for employees, stakeholders and the general public to report any observed violation, misconduct, or unethical behaviour across the state on Friday, August 5, 2022.
In a public notice signed by the LIRS Executive Chairman, Ayodele Subair, the Whistle-Blower initiative is a public policy of the State Government to encourage reporting of illegal actions or financial crimes, through the appropriate channel, with a view to correcting the violations or non-compliance.
According to the LIRS boss, “In line with the LIRS core values of integrity and accountability and our commitment to uphold the highest standards of openness, probity and accountability in our dealings with stakeholders, the platform is anonymous and confidential and it is independently managed by Deloitte, a globally accredited company.”
“The objective of the Whistle-Blower initiative is to guarantee transparency, accountability, and confidentiality to all taxpayers and stakeholders in general.
“The policy is designed to protect whistle-blowers from victimization and to encourage them to freely report without fear,” Subair submitted.
The launch of the Whistle-Blower initiative is scheduled to take place at the Protea Select Hotel, Assibifi Road, Alausa-Ikeja, Lagos.
…Television Crew, Other Press Men Storms Erukucity To Propagate, Bring New Innovations To Eruku Culture and Heritage
~By Oluwaseun Fabiyi
The annual yam festival of the Erukuans again witnessed mammoth crowd of young, old and dignitaries across the neighbourhood as EPA, EFON appeared to entertain the crowd for the three days celebrations, while ‘Agan’ would comes out at night after the grand finale. The event is fully back again after eight-year lull due to the reasons wouldn’t want to mention on the news circle.
The Eruku annual yam festival is an annual event that brings sons and daughters of the Erukuans together in unity to celebrate yam festival which dates back to the 19th century.
According to history, the festival had its origin from our forebears with the intention to bring peace and unity into the community and not an harmful things as many thoughts or beliefs. History has it that in the 19th century there are families within Eruku community who are the real originators, in advancement for the worshiping of Female EPA and Male EPA the reigning monarch then supported and gave freehand to practice without hindrance even till date.
It was in appreciation of this gesture by the Monarch who will always comes out during the event in his full regalia, and made it a point of duty to dance round through the market and to pay homage down to his sons and daughters
But today the festival has gone beyond what it used to be. All sons and daughters of Erukuland, home and in diaspora, irrespective of their religious differences look forward to the festival as we bring new innovations to this heritage.
“I remember when I was young and in primary/secondary school, I would leave my house in Odolomu compound at Balogun House as early as 5 pm and walk all way to Oke ogi just to join other children that will hold leaves and be singing and dancing. It was such fun for us then because it allowed us to join in the colorful festival and to learn more about our culture also meet old friends seeing our Kaabiesi Owa of Eruku in his full regalia with his chiefs and his mothers (Iye Oba) who will also appeared in full White attire”.
The major highlights and attractions of the Eruku annual yam festival are the parades of the Owa and his Chief with those agedwomen ( Age Grades) and the equestrian displays of the EPAs, Efon dancing along with the families couples with the traditional drums (Eku)
“The whole essence of the annual yam festival celebrations is to bring peace and lasting unit amongst Erukuans both home and in diaspora” says Akogun of Erukuland
Watch out for the grand finale today as major Television stations, other press men would be granted exclusive interview by the Owa of Erukuland for full and future documentary which would later be shown on DSTV & STARTIMES. The allotted date, time shall be communicated shortly
Wema Bank Records Impressive Financial Performance In 2022 Half-Year Reports
Wema Bank Plc, pioneer of Africa’s first fully digital bank and one of Nigeria’s most resilient banks, has posted a growth performance across all financial indices in the First-Half of its 2022 operations. This information is contained in the Financial Results for the Period Ended 30 June, 2022 released in Lagos on 28 July, 2022.
In the report, the bank recorded an increase of 50 percent in its Gross Earnings from the ₦39.82 billion it recorded in H1 of 2021 to ₦59.59 billion. It also grew its Interest Income by 55 percent year-on-year, from the ₦32.19 billion recorded at this period last year to ₦49.75 billion. The bank’s Non-Interest Income went up from ₦7.64 billion in the period ended 30 June, 2021 to ₦9.85 billion, an increase of 29 percent.
Similarly, Wema Bank recorded a 43 percent increase in Profit before tax (PBT) from ₦4.30 billion over the same period last year to ₦6.13 billion for the period under review. The bank’s Profit after tax (PAT) also increased from ₦3.72 billion in H1 2021 to ₦5.30 billion reflecting a raise of 42 percent.
The bank also grew its deposit by 13 percent from ₦968.17 billion reported in FY 2021 to ₦1.09 trillion in the H1 2022. It also grew its loans and advances from ₦418.86 billion to ₦447.23b in H1 2022, an increase of seven percent.
Ademola Adebise, the Managing Director/Chief Executive officer of the bank, attributed the remarkable performance to increased customer satisfaction the bank delivers through its investment in technology.
“Our performance has shown strong and promising results in the second quarter. Customers have continually shown trust in our proficiency, innovation, and service delivery even as the market gets more challenging. That said, I am confident, that despite increased volatility and uncertainty, we will continue to scale up, manoeuvre the environment, creatively manage our resources, and drive long-term, substantial returns for shareholders.”
In his own remarks, the bank’s Chief Finance Officer, Mr. Tunde Mabawonku, explained that the strong performance stems from the bank’s diversification of its business and value derived from its digital assets.
“This has been a strong first half with Interest Income up 55% and Profit Before Tax up 43% compared to H1 2021.” Mabawonku said.
“This strong showing is down to diversification at different levels of our businesses. Also, it is a testament to the advantage of our investment in digital banking assets which have continued to boost customer satisfaction and build trust for us. Also, we are aware of the challenges that the rising cost of living is having on our customers and stakeholders. Given the size of our balance sheet and income growth, we have trust in our ability to continue to provide support and help cushion the impact of growing costs in the market,” he explained.
Ecobank Nigeria Appoints Ichie (Dr) Nnaeto Orazulike as Non-Executive Director
The Board of Directors of Ecobank Nigeria Limited has announced the appointment of Ichie (Dr) Nnaeto Orazulike as a Non-Executive Director. Ichie (Dr) Nnaeto Orazulike is a seasoned business magnate, corporate administrator, and philanthropist. He is the Founder and Group Managing Director of Genesis Group – a proudly Nigerian conglomerate with interests in Restaurants, Cinemas, Hotels, Food Production and Oil & Gas Services and Production.
According to the Board, the new director has distinguished himself as a leader in his various endeavors, pioneering and promoting professions through the growth of indigenous talents in Nigeria and beyond. He embodies the Pan-African vision of the bank and brings with him the wealth of experience, professionalism, and integrity which has earned him national and international acclaim.
Ichie (Dr) Nnaeto Orazulike is a graduate of University of Nigeria, with a Bachelor of Science in Accounting degree and an alumnus of Harvard Business School, Executive Training Program. He was also awarded the prestigious Honorary Doctor of Science degree by University of Port Harcourt in 2015
Ichie who had previously served on the Board of Fidelity Bank Plc between 2008 to 2017, is the National Chairman of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture Trade Group on Tourism and Hospitality. He also currently sits on the boards of various companies and organizations including Shelf Drilling Nigeria, West African Metal Processing Co. Ltd., Fate Foundation, and Spiritan University, Nnochi Imo State.
Ichie Nnaeto joined the Board of Ecobank Nigeria in April 2022.
Rev. Okoh was elected on Monday to succeed the highly respected Rev. Samson Olusupo Ayokunle, upon completion of his tenure as head of CAN.
Asíwájú Tinubu noted that the new CAN leader who is the General Superintendent of Christ Holy Church is a worthy successor to Rev. Ayokunle whose tenure as CAN president was one characterized by exceptional commitment, principle and wisdom.
Asiwaju Tinubu said: “I congratulate Rev. Okoh on his election as the new president of CAN. Noting that Rev. Okoh had truly distinguished himself as the deputy to Rev. Ayokunle.:
The APC leader declared that Nigeria can only expect nothing but inspired and enlightened leadership from Rev. Okoh.
“CAN is one of the most important organizations in the nation. Not only does it seek the betterment of the Christian community in Nigeria, its moral force and standing benefit all Nigerians as we seek to establish a just and compassionate society where people of all faiths and beliefs live and work together in peace and harmony.
“As a nation, we are in a critical moment where misguided and terrible actors attempt to destroy social harmony and reign violence on us all. These awful forces seek to stoke religious and ethnic divisions in hope of pitting Nigerian brother against Nigerian brother. Decent and good Nigerians of all faiths must ally again such designs. While we may not agree on everything, all well-meaning Nigerians agree that we must live in peace, must respect and honor our diversity and eschew violence and hatred.
“We are grateful that CAN as an organization embodies these and other principles that reflect the values and virtues of Christ. We are glad that the new President of CAN, Rev. Okoh, is a humane and kind soul who has dedicated his life to the betterment of his fellow man and is a person who will work with leaders of other faiths and beliefs to anneal the bonds of unity, inter-religious understanding and tolerance while advocating for the benefits of democratic good governance for all Nigerians regardless of creed or belief systems.
“As long as we stand forthright and adhere to these tenets, Nigeria will defeat the plans of those who seek to place discord and hatred at our door.
As Rev. Okoh assumes the mantle of leadership, it is my hope and prayer that his tenure brightens every corner of our country and may he be a shining light to all.”
Students from Nasarawa, Ondo and Lagos State to Represent Nigeria at International Spelling Bee Competition in Dubai
Schools from Nasarawa, Ondo and Lagos State recently emerged winners at the recently concluded ninth edition of the International Spelling Bee Nigeria, organised by Peat Philips Foundation, while six students outwitted other finalists at the national final which took place at Marcellina’s place in Ikeja, Lagos.
Agbo Divine Capable of Intimacy with Christ International School, Nasarawa came first in the senior category while Miss David Kate Ene also of Intimacy with Christ International School, Nasarawa and Master Charles David from Greater Tomorrow International School Ondo State came second and third respectively.
The junior category was won by Ojochenemi Solomon Ojotumale of Intimacy with Christ International School, Nasarawa, and Fakande Ifeoluwa David of The Truth Academy Lagos and Odunlami Temiloluwa Janet of Bopton Nry & Pry School, Lagos coming second and third respectively.
Speaking at the national final of this year’s The Spelling Bee Nigeria Competition, the Team Lead at Peat Philips Foundation, organisers of the competition, Mr Akinleye Olu-Philips, said such competitions would build the knowledge of participants, boost their memory and confidence, as well as create healthy competitive spirit.
“Spelling bee involves the use of words and how it is applied in communication”. We believe that when the young ones are taught to develop critical thinking ability at early stage, it will help equip them as great leaders in adulthood. When a word is called out to be spelt, a participant should not assume what it could mean and that is why the participant has the right to ask relevant questions, which are known as the Lifelines. For instance, reign and rain may sound similar, but they are not the same. That is telling the participant not to assume, assumption could be dangerous at times.
“Assumption is one of the factors that is drawing us back in our nation”. The competition is also to help participants develop critical thinking skills. Today ’s world requires people who can think out of the box. Critical thinkers are needed for the growth of our society,” he said.
The Team Lead at Peat Philips Foundation, Mr. Akinleye Olu-Phillips, said spelling enhances education by improving students’ critical reasoning skills and helps Learners develop poise and composure.
“It also encourages reading because if you are a reader, you will be a great speller, and you will have depth and can contribute meaningfully to the development of any nation you find yourself in,” stated Olu-Phillips.
He said the foundation runs two literacy programmes, with international affiliations, The spelling bee and The young orators, which are focused on leadership and communications, believed to be one of the country’s major challenges.
While congratulating the winners, he advised them not to rest on their oars but to study hard and prepare for the intercontinental stage in the first week of October, 2022.
The event this year was sponsored by Learn Africa Plc formerly known as Longman Publishers with support from Indomie Noodles and Rite Foods Plc.
In his speech, the Managing Director, Learn Africa Plc, Alhaji Hassan Bala said Spelling Bee Competition would improve students Spelling and vocabulary and boost their confidence. He said Learn Africa dictionaries comprising Learn Africa Student’s English Dictionary for intermediate students and Learn Africa English Dictionary for Advanced Learners are the official dictionaries of the International Spelling Bee and The Young Orators competitions in Nigeria.
