Author: society_admin

First Bank E-Learning takes center stage on International Literacy Day 2020 by Eche Munonye

Covid-19 brought a huge challenge to education and literacy, First Bank of Nigeria Limited responded with a Rosetta stone of innovative e-learning initiatives that have far-reaching effects

Since 1967 that the United Nations Educational, Scientific and Cultural Organization (UNESCO) have been celebrating International Literacy Day to promote the importance of literacy and education, every September 8 had witnessed book gifting, book reading and related activities are undertaken by the UN body and its coalition of partners.

But this year is a departure as such enshrined activities are suspended and replaced with virtual meetings, a gesture that reflects the sign of the precarious situation of the world is as it is grappling with the devastating coronavirus pandemic.

Education has been in a state of limbo since schools––primary, secondary and tertiary institutions––and research institutes across the world were abruptly shut down as countries enforced lockdown to contain the ravages of the novel Covid-19. The disruption, a setback for education globally, inevitably fostered a lull in the effort to enhance literacy. And in the meantime, the world shifted to an alternative learning method which, by and large, is narrowed down to digital learning.

These challenges provided the backdrop for the theme of this year’s International Literacy Day: “Literacy Teaching and Learning in the COVID-19 Crisis and Beyond,” which threw open discourse on how innovative and effective education and teaching methodologies are to be adopted or adapted in youth and adult literacy programmes during the period of the pandemic and beyond. In line with this thematic direction, countries are reviewing how they have fared in the new normal, and evaluation of various initiatives by individuals, corporate bodies and governments are being undertaken to ascertain how they align with the reality and what gaps needed to be filled.

For Nigeria, the stake is higher. Burdened with a high rate of illiteracy, inadequate digital infrastructure and an economy in dire straits, Nigeria has on its hand a challenging learning situation in the of the new order. The possibility of the country being further left behind in the race to literacy was writ large, an uncomfortable fact that raised several legitimate concerns bordering on how to ensure that students have access to learning resources, how they can be fully engaged to make them competitive internationally with their peers and how such engagement can help close the gap created by the closure of all educational institutions nationwide.  While a cocktail of initiatives surfaced in the past few months to address these concerns and challenges, there was none as suitable, comprehensive and far-reaching as the e-learning initiatives of the First Bank of Nigeria Limited.

The initiative which could as well be nicknamed “Operation Moving One Million Nigerian Students To e-Learning” is a tripartite effort between the bank, Lagos State government and Roducate, an innovative technology firm that is providing educational solutions that enable primary, secondary and university students to continue to study the government-accredited curriculum of various subjects and disciplines in the convenience of their home.

Out of the mushroom of e-learning platforms in the aftermath of the lockdown, the First Bank initiative came with a big difference: the Roducate e-learning platform is available for free at www.firstbanknigeria.com/e-learning.

Secondly, the content is boosted with value-added features such as tutorial videos, assignments, mock exam, note-taking, podcast and online games that further promote interactive learning and deepen digital skills of the learner.

Thirdly, the initiative is further reinforced with the provision of free 20, 000 units of e-learning devices for pupils, which FirstBank presented to the Lagos State government on June 11. This helped to break the barriers of data cost and device affordability as the low-end smartphones are preloaded with offline content for children who may not have access to devices or data. By all means, this initiative has been an outstanding effort and a boon to digital learning in the country.

The inevitability of the adoption of e-learning technology goes hand-in-hand with the imperative of imparting skills in emerging digital technologies. In this regard, FirstBank went an extra mile with the rollout of complementary initiatives that justifiably empowered youths with the required capability.

The Bank’s partnership with IBM, for instance, brought the benefit of the global tech company’s Digital-Nation Africa programme to youths in tertiary institutions. The online youth-focused learning programme enables innovation and skills development on emerging technologies in key areas such as Artificial Intelligence, coding, cloud, internet of things, blockchain, Data Science and analytics, and cybersecurity. A second partnership with Curious Learning, a non-profit organisation renown for providing learning apps for kids, afforded pupils in the age range of three to eight years old the use of fun, self-guided learning apps to help them with their cognitive skills at a fundamental level.

The significance of the FirstBank e-learning initiatives cannot be overemphasized. As schools are gearing up to resume soon, there are over 10,000 sign-ups on the Roducate e-learning platform. It is expected that the students have had a grasp of the nitty-gritty of e-learning which, going forward, is expected to be integrated into the country’s educational system.

For FirstBank, a member of UNESCO’s Global Education Coalition, the initiatives are an attestation to its longstanding tradition of supporting education in various ways, a commitment succinctly echoed by its Chief Executive Officer, Dr Adesola Adeduntan: “The e-learning initiative aligns with our Corporate Responsibility and sustainability initiatives and falls under one of our key strategic pillars, thus Education through Support to our Communities.” Indeed, the Bank has a portfolio of projects in support of education, including infrastructure projects in 10 universities and three secondary schools, support for professorial chairs in 10 universities and teaching of financial literacy and entrepreneurial and career counselling to over 80,000 students in over 80 secondary schools in the country via its FutureFirst programme.

The e-learning initiatives further reinforced FirstBank’s status as an important stakeholder, leader and innovator in the country’s education space, a fact amplified by the Lagos State governor, Babajide Sanwo-Olu, who, having noted that the “intervention by FirstBank could not have come at a better time,” went on to declared his delight that the state government “have found a real development partner in FirstBank.”

Why I’ve decided to support Ize-Iyamu against Obaseki – Okunbo

The Chairman, Ocean Marine Solution, Capt. Hosa Okunbo, has said he decided to support the All Progressives Congress candidate in the September 19 governorship election in Edo State, Pastor Osagie Ize-Iyamu, because the party will work to develop the state.

Okunbo, who said this in an interview in Abuja, described himself as a very close person to Governor Gowdin Obaseki, but said the governor should not be allowed to get a second term.

“I still consider Godwin my brother, but I don’t consider him a leader because he doesn’t have the attributes of a good leader,” he said.

Okunbor in the interview berated Obaseki, saying, “A governor that could not manage 24 House of Assembly members from his own party – they were not in opposition, all APC. Some of us worked to make that possible for him so he could have a smooth ride but he squandered the chance.

“It’s only unfortunate that Osagie Ize-Iyanmu, who also contested against him in 2016, is out there and I am supporting him by default and of course, I want a better Edo State and that’s all I can say.”

Okunbo accused Obaseki of non-performance, saying most of the lofty ideas he floated before his election in 2016 had remained on paper without being fulfilled, while he had sustained himself in office through propaganda.

He stated, “If Godwin presents to you his plans for Edo State on PowerPoint, you will kiss his feet. It is like in the Bible when the devil said take all these and bow before me and Jesus said, ‘Get thee behind me Satan’. And as we progressed, all those packages that he presented, none was done“

I learnt most of them are all on paper and they continue to be on paper and consultancy services attached to most of them. Of course, as we speak, most of those projects are not on the ground and as for me, I can’t be deceived. Some can be deceived, but I cannot.

“A situation, where you have 600 children packed in a room and selling propaganda on social media of projects that are not there? It is appalling.

“It is the future of our children that is at stake; the liberation of our state from someone who thinks he is an emperor in this modern day is at stake.”

Okunbo alleged that Obaseki started a fierce battle against his business interests because of a rumour that was going round in the state that he (Okunbo) was planning to contest against him in the coming election.

He said, “A lot of people approached me to run as the governor of Edo State and most of the people who did will tell you that I said I wasn’t interested because I have set a trajectory for my life and over the past 32 years, I have been involved in business and before that, I was a very good professional pilot.

“At 63, my mates that ran for governorship did that in 1999 and I was not ready to start learning new things. That is one of the reasons I tried to help Godwin, because in his old age, he could not learn new things; that is why he fell a victim.”

Okunbo explained that he warned Obaseki to settle the rift between him and his predecessor, Adams Oshiomhole, who was then the Chairman of the APC.

He said Obaseki refused to listen to him and follow the line of peace, adding that the governor rather warned him to steer clear of the raging battle or suffer “a collateral damage.”

‘APC stirring controversy to shift gov poll’

When Okunbo’s allegations against the governor were listed and sent to the WhatsApp number of Obaseki’s Special Adviser on Media, Crusoe Osagie, he sent a statement titled, ‘APC stirring controversy to shift guber poll’.

In the statement, Osagie said the APC was stirring controversy so that the authorities could shift the September 19 governorship election.

He said, “Edo State is peaceful, the Peoples Democratic Party is committed to enduring peace before, during and after the poll.

“The APC leaders and the governorship candidate, Osagie Ize-Iyamu, are agitated because they are not ready for the election. They are convinced that they do not stand any chance in the forthcoming election.

“They are behaving like some unserious and misguided university students, who do not read, and when faced with examinations, they engage in cult fights few weeks to the examination, so that the school authority will shift the examination.”

He emphasized that state was peaceful as people were going about their business peacefully, and urged the APC candidate and his handlers to concentrate on their campaign.

When Osagie was told later that his response did not address Okunbor’s allegations, he sent the same statement again.

In Edo, the Violent Can’t Take It by Force!   By Olusola Ajani

From the creeks, cities and hinterlands of Edo State, there are muffled but menacing echoes of violence as the September 19th governorship election draws nearer. The on-going campaigns are pockmarked by tense and occasionally violent altercations between supporters and critics of the incumbent, Godwin Obaseki and his main challenger, Osagie Ize-Iyamu, which have renewed concerns about the spectre of violence in Nigeria’s politics.

A foretaste of this was experienced in July, when supporters of the Peoples Democratic Party, PDP, and the All Progressives Congress, APC, clashed at the hallowed grounds of the palace of the Oba of Benin. Ahead of the flag-off of the PDP governorship campaign in Benin City, the Edo State capital, its candidate, Governor Godwin Obaseki led some governors and leaders of the party from the South-south to the palace.

There were reports that solidarity and combative songs rend the air as tempers later went beyond control, resorting in the thugs employing an assortment of weapons, including firearms, cutlasses and others. In the process, several persons were reportedly injured while others scampered to safety as some of the cars parked at the palace gate were badly damaged.

The police later intervened and restored normalcy but the message of what laid ahead had been succinctly passed that not only ballots would be counted; bodies too!

Of course, there were accusations and counter-accusations about, who the aggressor was as the APC, through John Maiyaki, chairman of its media campaign council, stated: “Booed by the people at the entrance of the Palace of our great Oba for handing the state to the PDP tax collectors, who are unconscionably feasting on our collective patrimony, Mr Godwin Obaseki, as an act of revenge, instructed the thugs and cultists he has spent the past few weeks recruiting in the state and beyond to attack the people with dangerous arms.‎

“This criminal and heartless action not only affirms our repeated warnings that Mr Godwin Obaseki fully intends to prosecute the election with violence and thuggery, but it also shows his lack of empathy, conscience, and respect for the lives and dignity of the people he was elected to serve.‎”

On his part, Crusoe Osagie, Special Adviser to the Governor on Media and Communication Strategy, said the thugs were sponsored by the APC, its candidate, and the former National Chairman of the APC, Adams Oshiomhole, who, he alleged, had engaged thugs to cause mayhem in the state before then.

Osagie said further, “We are appalled by the deployment of thugs to the sacred grounds of the Oba’s Palace by the APC, Ize-Iyamu and Oshiomhole to harass guests, who are in the state for the flag-off of Governor Obaseki’s campaign and had visited the palace to pay obeisance to His Royal Majesty, Omo N’Oba N’Edo Uku Akpolokpolo, Oba Ewuare II, the Oba of Benin.

“While we respect the boundaries of politics as it relates to the palace, it is reprehensible that the APC, its candidate and their enablers would sponsor thugs to desecrate the palace, which is a clear case of desperation to score cheap points.

“This conduct is not a trait of Edo people and is condemned in the strongest possible terms, as we are courteous and welcoming to guests. It is obvious that these persons were mobilised for this task by those, who have no regard for the palace nor want the progress and development of the state.”

Between then and now, the tones are yet not conciliatory; rather, they are getting more confrontational by the day. The foregoing underscores why the recent intervention of the Oba of Benin is commendable.

On Tuesday, September 2, Oba Ewuare 11 held a peace meeting with Obaseki, Ize-Iyamu, Oshiomhole and a former National Chairman of the APC, Chief John Odigie-Oyegun among other party leaders at the palace, where he warned them to desist from inflaming the polity with their utterances and conducts.

Expressing his anger and sadness at the turn of events, the monarch said, “Please don’t turn the state into the city of blood. I appeal to the two gladiators and all politicians to ensure peace and stop the shooting and violence in the state. I want assurances from you people to me, and the people of the state of a peaceful atmosphere in Edo State. Your home and families are here, so give peace a chance. We are all afraid that the state will burn to ashes.”

The Oba further appealed for a peaceful election and warned them not to pay lip service to the traditional throne, which he reiterated is not partisan, and committed them in advance to bipartisan displays of conciliation at the first sight of electoral violence.

Violence is an alter ego of every election all over the world. An incumbent, who fears losing an election can use post-election violence as a means to cow election officials and judges in the adjudication of a disputed election, or even as a means of extorting a power-sharing deal when defeated.

It could also be a spin-off of spontaneous demonstrations fuelled by outrage and fear of electoral manipulation, which can drive supporters into the streets, where violence is a consequence of inappropriate or militarised police response. All of these indices are omnipresent in Edo State with the incumbent’s guns-blazing stance to remain in office despite blissfully under-performing and, consequently, eroding the goodwill that ushered him into office in 2016.

In the time past, and judging by every poling variable that points at a crushing defeat for Obaseki, the election would have been called for the opposition even before going to the polls. But things are different now.

Thanks to several electoral reforms embarked upon by the Muhammadu Buhari administration, which have erased the patchwork quilt of partisan state officers, amateur volunteers, and passé equipment to help administer elections, and by so doing, raised the integrity of Nigerian elections, there is no disputing that votes would count in Edo State.

It is not state-sponsored violence and sabre-rattling or electoral manipulation that will win the election; it is speaking to the core of what the people desire; the time-tested solutions being proffered to the myriad of challenges besetting the state and acceptability of the candidate and the party.

So, unlike the biblical quote that ‘From the days of John the Baptist until now, the kingdom of heaven suffers violence, and violent men take it by force’, Edo State might have suffered violence in recent times, it would not be taken by a man that is facing an impending exile from power.

However, only Ize-Iyamu, whose SIMPLE Agenda (which stands for Security and Social Welfare, Infrastructure Development, Manpower Development, Public/Private Partnership, Leadership by Example and Employment Creation) resonates well with the people, would get their votes.
Ajani wrote from Abuja

H1 2020: Fidelity Bank Posts Impressive Half Year Results

·      Profits up by 22% as Gross Earnings hit N105.8bn. 

Despite the economic challenges occasioned by the COVID-19 pandemic, Fidelity Bank has sustained the financial performance trajectory of recent years, with another set of impressive financial results. Details of the Audited Half Year results ending June 30, 2020 for the top Nigerian lender, released on the Nigerian Stock Exchange (NSE) on Thursday September 3, 2020, show strong growth in profits and other indices.

The bank recorded a surge in Profit Before Tax of N12.0bn from N9.8bn in 2019, which translated to a 22% growth. Net profits for Fidelity Bank grew by 33% from N8.5bn to N11.3bn in the reporting period. In other indices Total Assets rose by 13.7% from N2.1trillion in 2019 to N2.4trillion this year whilst Total Deposits rose by 14.8% from N1.2trillion to N1.4trillion during the same period.

Commenting on the results, Fidelity Bank CEO, Nnamdi Okonkwo said the performance for the period, reflects the resilience of the bank’s business model. “Due to the global and domestic headwinds witnessed in H1 2020, we proactively increased our cost of risk as the impact of the pandemic slowed down economic activities whilst adapting our business model to the new risks and opportunities of the new normal” he stated.

According to him, Fidelity Bank, re-stated its H1 2019 figures from N15.1bn to N9.8bn to reflect the impact of IFRIC 21- Levies, which was adopted for the first time on the H1 2020 financials. “The key impact of IFRIC 21 was that our 2020FY AMCON Cost was recognized 100% in our H1 2020 Accounts rather than been amortized over 12 months as was done previously on our financials” said the Fidelity CEO”. He further revealed that, without implementing IFRIC 21, profit for the period would have been N17.9bn compared to the N15.1bn reported in H1 2019.

Fidelity Bank has been implementing a digital-led retail strategy and digital banking gained further traction during the period with 87.3% of the bank’s customers now transacting on digital platforms. The figures are up from 82.0% in 2019FY while 51.2% of the bank’s customers are now enrolled on the bank’s mobile/internet banking products.

“Though digital banking income dropped by 29.1% due to the downward fee revisions for electronic transactions in line with the new bankers’ tariff, we have continued to receive positive reviews on our digital channels. IVY, the bank’s chat box is rated as the clear leader, among virtual assistants in the industry, just as our flagship instant banking product (*770#) was also rated in the top tier category in the recently released 2020 KPMG Digital Channels Scorecard” he explained.

Retail Banking in Fidelity Bank has continued to also deliver impressive results. Savings Deposits in H1 2020 increased by 32.2% to N363.9bn with the bank on course to achieving the 7th consecutive year of double-digit growth in savings. Savings Deposits accounted for 49.1% of the total growth in customer deposits and now represents 25.9% of total deposits compared to 22.5% in 2019FY.

In reflection of the bank’s early conservative assessment of the sectors that were affected by the COVID-19 pandemic, the bank’s Non-Performing Loans (NPL) ratio increased to 4.8% from 3.3% in 2019FY. Regulatory Ratios however remained above the required thresholds with Capital Adequacy Ratio increasing to 18.8% from 18.3% due to the capitalization of H1 2020 Audited Profits while Liquidity Ratio stood at 32.1%.

Buoyed by the H1 performance, the bank is optimistic about the remaining part of the year. “We believe the new phase of normalcy will unveil some growth opportunities. We will continue to monitor and pro-actively manage any evolving risks as the Nigerian economy gradually reopens and economic activities pick-up in key sectors” Okonkwo stated.

How Sterling Bank Staff Compromise Customers’ Security Details to Obtain Loan

Two farmers, Umar Abubakar and Muhammad Sani-Abdul, have revealed how staff of Sterling Bank in Bauchi State fraudulently opened unauthorised accounts using their names and Bank Verification Numbers to apply for loans.

The farmers, in a petition seen by SaharaReporters, told the Consumer Protection Council that they started receiving messages in December 2017 suggesting opening of accounts with the bank without taking such step.

They said they were shocked to learn that the accounts opened on their behalf owed the Nigeria Incentive-based Risk Sharing System for Agricultural Lending N1,291,888.00 per person.

“That we opened accounts with Stanbic IBTC Bank as part of a plan to engage in wheat farming. We are pleased to attach our Bank Verification Number. That, doing so was an attempt to partially meet the conditions for getting access to loan facility to achieve the said goal under the platform of Evergreen Cooperative Society, which was said to have partnered with a certain Madaki Agro Firm.

“That, contrary to (a) above, we started receiving alarms in December 2017, suggesting opening account with Sterling bank, a deal we were unaware of. That going by frequent cyber shady deal, we dismissed the matter (stated C above) as trivial. Because to the best of our knowledge and belief, we neither opened account nor did we authorise anybody or any organisation to do so on our behalf.

“That, in the preceding months, there were transactions in the said accounts amounting to millions of naira concerning loan facility we did not apply for. Moreover, the account was said to have been controlled by a third party. We neither know nor delegated to do so on our behalf.

“That we were extremely shocked to learn that the accounts that were purported to have been opened for us owed NIRSAL worth N1,291,888.00 per person. We have thus been exposed to danger, we strongly suspect shady deal between the two banks and possibly other parties.

“We understand this is a gross violation of our fundamental and inalienable rights as provided in 1948 universal declaration of human rights, International Convention on Economic, Social and Cultural Rights (1966), Nigerian constitution (1999), Bank and other Institution Act (BOFIA), Central Bank of Nigeria Act 2007, Human and People’s Right and other enabling laws,” the petition reads.

Prophet Omale Slam 5bn Suits against Inept FCMB for EFCC Error

The General Overseer, Divine Hand of God Prophetic Ministry, Prophet Emmanuel Omale, has sued First City Monument Bank Plc for N5bn.

Omale, who claims to be the spiritual guide of the suspended acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, said FCMB falsely reported to the Nigerian Financial Intelligence Unit that N570m was paid into his church account, thereby, leading to accusations that the money was used in purchasing a house in Dubai for Magu.

The suit marked FCT/HC/CV/2020, was instituted by Omale; his wife, Deborah Omale; and the church, the Incorporated Trustees of the Divine Hand of God Prophetic Ministry.

The claimant stated that in 2016, the FCMB falsely reported to the NFIU that N570m was paid into the church’s bank account marked 1486743019 which caused security agents to put the account under surveillance for four years.

The statement of claim read in part, “Sometime on or about the 6th day of July 2020 the former acting Chairman of the EFCC, Mr. Ibrahim Magu, was arrested and summoned to the Presidential Villa, Abuja, to appear before the Presidential Investigation Committee on the Alleged Mismanagement of the EFCC, Federal Government Recovered Assets and Finances From May 2015 to May 2020.

“That one of the key allegations levelled at the Presidential Investigation Committee against Mr. Ibrahim Magu, was that the 2nd Claimant (Prophet Omale) fraudulently and corruptly purchased a real estate property for Mr. Ibrahim Magu in Dubai, the United Arab Emirates with the said sum of N573, 228, 04 allegedly credited as an inflow into the 1st Claimant’s (church’s) Corporate Current Account No: 1486743019 in the year 2016.”

The claimant stated that due to the investigation and negative media reports, they were exposed to public hatred and contempt and injured in their religious calling.

The cleric said he and his wife were summoned to appear on August 10, 2020, before a Presidential Investigation Committee at the Presidential Villa, Abuja.

Omale and his wife, accompanied by their lead Senior Counsel, Gordy Uche (SAN), and a team of four senior lawyers appeared before the panel on August 10, 11, and 12 and were grilled for hours on their alleged roles in respect of the sum of N573m used in fraudulently and corruptly purchasing a real estate property for Magu in Dubai.

The cleric said they paid Uche (SAN) & Co., the sum of N15m to appear and represent them for three days before the said Presidential Investigation Committee and attached a copy of the receipt to the statement of claim.

He said they all denied the allegations of fraud, adding that he never bought any property for Magu when grilled by the panel.

Omale said the Salami panel in the course of its hearing also invited the Managing Director/Chief Executive Officer of FCMB, Adam Nuru, who appeared before the committee and testified.

“That Mr. Adam Nuru in his testimony informed the Presidential Investigation Committee that the said N573M was credited to the bank account of the 1st claimant (church) in error and that the error was not discovered by the defendant for over four years,” the cleric said.

Omale said they paid the law firm of Gordy Uche (SAN) & Co., the sum of N75m to institute the suit against FCMB and attached a copy of the receipt for the said professional fees to the statement of claim. He said in all, he had lost N180.5m due to payment of legal fees and personal losses.

Omale, therefore, sought a declaration of the court that the FCMB negligently breached the fiduciary duty of care it owes the claimants by its false automated report to the NFIU of a suspicious credit inflow of N573m into the church account.

The statement of claim further read, “The sum of N5,000,000, 000.00 (Five Billion Naira) being exemplary, aggravated, special and general damages against the defendant for the negligent breach of its fiduciary duty of care to the claimants by its false automated report to the NFIU of a suspicious credit inflow of N573, 228, 040. 41 into the 1st claimant’s corporate current account number1486743019 with the defendant, which has occasioned grave damages to the claimants.” (The PUNCH)

Ecobank Announces New Date for Its ‘Africa Trade Conference 2020’

Ecobank Nigeria, a member of the pan African banking Group has concluded plans to host its first Regional Trade Conference. The virtual forum with the theme “Facilitating Regional Trade in the emerging AFCFTA era” is slated for the 22nd of September. The conference, which will feature presentations and panel discussions by highly experienced subject matter experts and thought leaders in relevant industries, will provide an opportunity for exporters and importers within Africa to engage, creating a marketplace experience.

The Ecobank Nigeria ‘Africa Trade Conference 2020’ earlier slated for March was postponed due to the lockdown restrictions following the outbreak of the COVID-19 pandemic. Announcing the new date and movement of the conference to an online platform in line with current realities, Sunday Abah, Head, Trade Finance, Ecobank Nigeria stated that due to its unrivalled footprint across Africa, Ecobank is uniquely positioned to facilitate cross border trade within the region leveraging its comprehensive trade solutions and various payment methods available across its network within Africa.  According to him, “Ecobank’s unique intra-Africa trade solutions enable settlements of international transactions and mitigation of payment risk while providing regional solutions such as issuance of payment guarantees to exporters without the need for a letter of credit and its related costs to the importer. Ecobank works closely with clients in structuring transactions, settlements, financing and risk mitigation” he noted.

 Further, he said “Our trade products and solutions are designed around two broad areas; trade finance and trade services. Trade Finance enables our customers benefit from adequate and well mitigated credit facilitation in the area of Import finance, export finance, bill discounting, trade loans, distributor finance, payables and receivables finance, structured trade and commodity finance amongst others while our trade services, offer our customers the advantage of speedy turn around and error free processing of their import letter of credits, import collections, avalised bills, Customs bonds, export collections as well as their local purchase orders and payment invoices, via our electronic trade platforms OMNI e-Trade and OMNI eFSC (electronic financial supply chain).

 The Ecobank Regional Trade Conference, which will be moderated by Mr. Tedd George, the Founder and Chief Narrative Officer of Kleos Advisory, UK is privileged to have as its Special Guest of Honour, Mr. Segun Awolowo, Executive Director/ Chief Executive, Nigeria Export Promotion Council. Notable speakers and facilitators across the globe are also expected at the event.

Blame Biggie for Erica’s Disqualification from Big Brother Naija Lockdown House

The Big Brother Naija Lockdown has been living up to its billings in terms of intrigue, and yesterday’s eviction and disqualification has set Nigerian social media into frenzy like never before. The eviction of Lucy caught many unaware especially giving that Tricktee and Vee survive it, another issue like that is the disqualification of Erica who is not up for eviction.

Erica seems to have on Monday secure her place for another week by her emergence as the Head of House, though on two strikes for infringing on house rules it was the general believe that she will at least scale through this week eviction but that is not to be over issues that we can say is more the fault of Big Brother than hers.

I know many people will be wondering how I arrived at my conclusion. Let’s look at it this way, the genesis of the issue that led to her disqualification was her trying to kiss Laycon during their Saturday party sponsored by Johnnie Walker, it is the party that happens like 4 weeks back that has DJ Consequence on the turntable, if you could recollect most of the Saturday parties before then are sponsored by Guinness but this was the first time a spirit drink brand will be the drink for the Saturday’s party and Erica became so intoxicated that she could hardly recollect event of the night.

Knowing her weakness for spirit drinks she was this time around allowed to indulge in Gordons Dry Gin, someone once said gins are revered even by the ancestors that they only drink it with the cover, the decision to again expose her to spirit drinks when she’s already on two strikes is to me a deliberate attempt to quickly send her home and that was the case yesterday.

My belief is that should there be Origin present she may not be that high to act the way she acted but exposing her to consumption of gin is partially the fault of Big Brother but mainly her fault for not knowing her ability, if not there won’t be need for young Nigerians who had campaigned intensely for her to be contributing the money the are supposed to be using for upkeep to support her.

Stay tune while we expect the next drama to be linked to the follies of the Big Brother.

Shut-up! Social Media user Lambast Daddy Freeze over Bishop Oyedepo’s Teaching on Marriage

Twitter and other social media platforms has been set on fire over the reaction of popular Nigerian-Romanian born On Air Personality (AOP) Ifedayo Olarinde popularly known as Daddy Freeze to a social media write-up of the presiding Bishop of the Living Faith Tabernacle a.k.a Winners Chapel. Bishop Oyedepo in a series of tweets on marriage has written “The only way to a fruitful marriage is submission on the part of the wife. Until it is in place, every other thing she tries to do will be out of place. As a woman, you might even be a minister of the gospel, and your husband is not, the Word of God still says to submit to him.

” One of the ways a husband should express his love for his wife is by giving. A husband should willingly and joyfully give gifts to his wife. How much is given is not the issue. He should rather accept his responsibility, by joyfully giving his wife gifts. That is what counts.”

But in his way of doing things Daddy Freeze had capitalized on the first part of the tweet to lash onto the revered man of God on his own twitter handle where he responded by saying submission in the Bible goes both ways and that it is both the wife and the husband that must submit to one another.

His response has however elicited harsh words from many twitter users who questioned his right to give marriage advice where he failed in the past not too long, according to one twitter user with @jesusemmanuel_ty47 handle he questioned the rationale where a man whose marriage ended in divorce is questioning a man with over 30 years marriage and this in turn attract reaction from the AOP a situation that has seen others weighing in.

 

Ecobank Nigeria Empowers Small Businesses, As AUDA-NEPAD Partners Ecobank Group To Launch MSME Academy

Managing Director, Ecobank Nigeria, Patrick Akinwuntan has pledged the bank’s support for small businesses operating in the country, stressing that the micro, small and medium enterprises (MSMEs) sub sector remains the most affected by the COVID-19 pandemic and needs support in the revamping of the nation’s economy. Akinwuntan who was speaking at the virtual launch of the first Pan-African MSME Academy in Lagos on Thursday, maintained that MSMEs are the drivers of post COVID-19 economic recovery for Nigeria, noting that the sub sector should take advantage of technology, financial services, and support from the government to drive the survival and growth of their businesses.

Further, Mr Akinwuntan said the MSME Academy is an initiative of the African Union Development Agency – AUDA-NEPAD in partnership with the Ecobank Group. The Academy provides easy access to practical training and resources on financing opportunities in various countries, how to build a digital presence for businesses and how to adapt business operations in the era of the COVID-19 pandemic. In his words, “ as an MSME friendly bank, we have been helping them with capacity building; providing simple and easy access to loans  in various sectors including agriculture, creative industry, healthcare and commerce amongst others; access to markets via our e-commerce solutions and simple but robust digital platforms for collections and payments. We have also provided a channel to enable MSMEs open various accounts via self-service on our webpage. I encourage all MSMEs in the country to avail themselves of this opportunity to grow their business. ”

Also speaking Amine Idriss Adoum, Director, Programme Delivery & Coordination, AUDA-NEPAD explained that the MSME Academy aims to build the capacities of MSMEs across Africa through a combination of relevant content library, a network of institutions specialized in MSME support such as incubators and accelerators, and a community of peers, mentors, and advisors. He noted that  the key objectives of the academy is to radically expand access to finance by aggregating smaller financial institutions such as micro-credit institutions and credit unions that have access to micro-enterprises, standardising their processes, and building trust in their capabilities. “The MSME Digital Platform is a one-stop-shop for all MSMEs across Africa to access all these three programmes which jointly address MSMEs’ challenges with access to capacity building, markets, and capital”. He explained.

In his presentation titled: “How MSMEs can access funding – opportunities from financial Institutions/banking sector”, Managing Director, Development Bank of Nigeria (DBN), Tony Okpanachi, said to be bankable, the MSMEs should have accurate financial statement, collaterals, good credit history, viable business model and sound corporate governance, listing the sources of funding to include equity, grants and credit. He emphasized that, “the AUDA- NEPAD and Ecobank partnership must be lauded as the entrepreneurial potential and critical role of MSMEs in economic growth and development in Nigeria is clear. We will continue to collaborate with other financial institutions to assist them with all necessary support to play their role to the economy.”

For the Director, Development Finance, Central Bank of Nigeria (CBN), Yusuf Philip Yila, he said the apex bank had put in place several funding support initiatives to enable the sub-sector survive the COVID-19 pandemic and beyond. According to him,  “For this important sub sector to survive the current COVID-19 pandemic and beyond, CBN and the bankers committee have put in place various stimulus packages to support MSMEs in the country. He noted that the CBN’s N50 billion Target Credit Facility (TCF) has been increased to N100 billion with the interest rate slashed to 5%  from 9% to keep them in business”. He encouraged MSMEs in the country to take advantage of the CBN’s various funding windows to meet the demands of their businesses as government is striving to revamp the economy as soon as possible through their efforts.

The first Panafrican MSME Academy is open to Medium, Small and Micro Enterprises in Nigeria and across Africa . The programme provides support to African MSMEs and is structured in three pillars, namely:  the MSME Academy, MSME Marketplace, and MSME Financing Support Programme to be delivered through an MSME Digital Platform. The Academy provides easy access to practical training and resources on financing opportunities in various countries in Africa, how to build a digital presence for businesses and how to adapt business operations in the era of the COVID-19 pandemic. It also offers free access to market intelligence, mentors with a diverse experience and assisting with access to funding opportunities.

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