RT. HON. MUDASHIRU AJAYI OBASA, Speaker Lagos State House of Assembly
An interim report heard on the floor of the Lagos State House of Assembly on Monday detailed how dredging companies in the state have consistently defrauded the government to the tune of several hundreds of millions.
The report was read on the floor by Hon. Victor Akande, chairman of a seven-man committee set up to look into the activities of alleged illegal dredgers in the state.
The report named NIMCO dredging company among the ones that have carried on defrauding the state by failing to pay taxes and make returns.
The report shows that the state has 55 registered ‘Category A’ dredging companies out of which only three have operational permit. Out of these three, only one of the companies has been making returns to the government.
Akande said the report was the result of the committee’s finding through documents and evidence provided by officials of the state government and investigation.
In the course of the investigation, the committee had invited the Ministries of Waterfront and Infrastructure Development, Lands, The Environment, Physical Planning, the Surveyor-General, other government agencies and the commissioner of police in the state.
Some of the dredgers, it was learnt, engage in reclamation of land and these include NIMCO, linked to a top serving politician in the state, and another company that operate around the Eti-Osa area of Lagos State.
The Committee discovered that after reclaiming land, the companies then sell at very exorbitant prices. A member of the committee cited the case of reclaimed land sold for at least N120 million in places like Banana Island without paying government its due.
It was further learnt that another set of 74 Category A dredgers have been operating illegally in the state.
The report also showed that only 12 of the 69 recognised Category B dredgers and piling companies in the state had been making payments to the government.
It was also discovered that the state has another set of 109 illegal Category B dredgers.
The report shows that the state has 11 areas of reclamation of land with eight in Eti-Osa, one in Mainland, one in Ikorodu, and one in Kosofe.
Even though the companies have areas they are supposed to cover, many of them beat the state directive by dredging beyond the requirement, make money and defraud the government.
During deliberation on the floor of the House, Akande disclosed that all manner of people including foreigners, especially Chinese were also engaged in dredging activities enriching themselves at the expense of the state.
Many other lawmakers spoke against the activities of these dredgers.
On his part, Olowo said the dredgers were operating indiscriminately adding that some with Category C approvals operate in Category A without regard to the laws.
Akande also urged the House to give the committee additional two weeks to complete its work as it wants to embark on inspection tour of the sites.
Speaker Mudashiru Obasa directed the Clerk of the House, Azeez Sanni, to write the governor and intimate him of the preliminary findings of the committee.
Obasa also directed the Clerk to write to the state commissioner of police to provide security for the committee members when they embark on inspection of the dredging sites.
As part of proactive measures to cushion the effect of the COVID-19 and revamp the nation’s dwindling economy, Heritage Bank is set to disburse the N100billion set aside by the Central Bank of Nigeria (CBN).
This is in line with the apex bank’s policy to introduce another intervention scheme directed to the health sector, which is known as the NGN100 Billion Credit Support for the Healthcare sector (the Scheme). Specifically, the scheme is to provide credit to indigenous pharmaceutical companies and other healthcare value chain players intending to build or expand capacity.
Also, the CBN resumed provision of foreign exchange to all commercial banks for onward sales to parents wishing to pay schools fees and small medium enterprises (SMEs) with plans to make essential imports needed to revamp economic activities across the country. In particular, the CBN is resuming the provision of over US$100 million per week for both categories.
Meanwhile, Heritage Bank serves as a conduit which will assess and channel the profiles of interested applicants to the CBN while using its platforms to create awareness for the scheme.
The CBN has also made complete arrangements to resume foreign exchange sales to the BDC segment of the market for business travels, personal travels, and other designated retail uses, as soon as international flights resume.
To access the N100bn loans provided by the CBN for firms in the healthcare sector, a corporate entity must submit its application to a participating financial institution (PFI) which could be either a Deposit Money Bank or a Development Finance Institution of its choice with a bankable business plan.
It stated in its latest guidelines that the PFI must appraise and conduct due diligence on the application; and upon approval by the PFI’s credit committee, the application would be submitted to the apex bank with relevant documents attached.
The CBN would process and disburse funds to the PFI for onward release to the project, it added.
The CBN stated that the PFI must receive and review applications submitted by its customers; undertake due diligence based on normal business considerations, and bear the credit risk.
They must also issue offer letters and forward qualified applications to the CBN; disburse the released funds to successful applicants; monitor the project and recover the loans from the beneficiaries, and maintain adequate records of all beneficiaries and facilities.
It requires the PFIs to register all movable assets with the National Collateral Registry; forward periodic returns in the prescribed format on the scheme to the CBN; comply with the guidelines, and carry out any other duties as the CBN may prescribe from time to time.
According to the CBN, eligible participants under the scheme comprise healthcare product manufacturers – pharmaceutical drugs and medical equipment; and healthcare service providers/medical facilities – hospitals/clinics, diagnostic centres/laboratories, fitness and wellness centres, rehabilitation centres, dialysis centres and blood banks, among others.
Others include pharmaceutical/medical products distribution and logistics services; and other human healthcare service providers as may be determined by the CBN from time to time.
Eligible activities under the scheme would include manufacturing of pharmaceutical drugs and medical equipment; establishment/expansion/upgrade of basic and specialised healthcare facilities; and medical/pharmaceutical supplies.
Others are medical/pharmaceutical research and development; distribution of medical/pharmaceutical drugs and supplies; Manufacturing of medical/pharmaceutical drugs distribution technology; and any other healthcare value chain activity as may be prescribed by the CBN.
The CBN said the term loan had a maximum of N2billion per obligor; and the interest rate under the intervention would not be more than five per cent per annum up until February 28, 2021; and that interest on the facility would revert to nine percent as from March 2021.
To access further details on the modalities, interested persons and institutions can logon Heritage Bank’s website (www.hbng.com).
QHEMMY, one of Nigeria’s most versatile gospel artistes who has made music with big names in both the secular and gospel industry, has released a new hit single titled “Doors of Mercy” – a four-minute prayer song that is already trending on social media.
According to Qhemmy (full name Oluwakemi Onasanya) “Doors of Mercy” is a contemporary cover for a 70-year old church hymn I used to sing as a child. It was inspired by the suffering and fear that COVID-19 has unleashed upon people across Nigeria and the entire world.
“But my new song, the lyrics and gentle melody of which everyone can easily sing along with, is a collective call unto God Almighty not to forsake humanity in the throes of this pandemic. And I know that all those who call upon the name of the Lord will be saved.”
Qhemmy’s “Doors of Mercy” – produced by a church label VilleMEDIA – is coming on the heels of “Oloore” (Benefactor) fourth single, which she released last year, bringing to five, the singles she has done in piecing together her maiden album slated for end 2020.
Based in Lagos, Qhemmy Onasanya is a performing Nigerian gospel artiste, song writer and a creative designer. She was born into a clergy family and started singing in church as a child; her Dad being a pianist and choirmaster.
She started her musical career professionally over 25 years ago. She has performed in and out of studio with notable Nigerian artistes like late Ras Kimono, Sunny Neji, Seyi Solagbade, Buchi, Alariwo, Toni Tetuila, Pasuma and Saheed Osupa.
As a worship and praise leader, she has helped produce choir albums in over 10 denominations, professionally. Her versatility covers every genre of music.
Oba Dr. Fredrick Obateru Akinruntan is the traditional ruler of Ugbo Kingdom, an ancient riverine town in Ilaje Local Government, Ondo State, South-West Nigeria.
Rated by financial magazine, Forbes, as the richest monarch in Nigeria and second richest on the African soil. With a net-worth and conglomerate spanning into billions of dollars, Olugbo has his hands litters across many pies of business littered across the the world with choice properties at highbrow areas across the world.
Oba Akinruntan is currently the Chairman of Ondo state Council of Obas, the Chairman of Yoruba Obas Conflicts Resolution Council. He also shoulders an academic title as the Chancellor, Olusegun Agagu University of Science & Technology, Okitipupa, Ondo State.
The reputable philanthropist blessed with a large heart of Gold is also a recipient of National Honours, Commander of the Order of Niger (CON).
In this interview, the Okoro Ajiga 1, Paramount Ruler and Prescribed Authority of Ugboland, revealed some mind blowing information affecting the Yoruba race. He addressed other salient issues by setting the records straight, correcting distorted history connecting Ile-Ife and Ugbo….
Excerpts….
What’s the position of Ugbo in Yoruba connectivity?
The position of Ugbo in Yoruba connectivity still remains what it is. It is an historical fact that cannot be affected by the passage of time or circumstances. Nobody can change it! I am the first, the oldest throne in Yoruba Land. The position of Ugbo in Yoruba history cannot be contradicted by anybody. Nobody can say no to that sacrosanct position of Ugbo in Yoruba oral or written history because it is there for all to see. A lot of people are grumbling and murmuring; I see them as cowards. They are very cowardly and are not even coherent in their stuttering cowardly counter claims that to all intent and purpose stand logic on its head because my father, Oranfe is the progenitor of Yoruba Land. Oranfe, a half man, half spirit being is the father of Obamakin who is my ancestral father and whose dynasty founded Ile Ife and he reigned as the aboriginal Paramount ruler of Ile Ife. Ife was known at that time as Ugbomokun; so I am claiming it as the owner of Ile Ife and that claim i lay claim to is not just narratively pure but historically correct! I am still claiming it up till tomorrow.
Who exactly is Obamakin Osangan gan?
Osangangan Obamakin is the son of Oranfe. They are the owner of Ile-Ife. His father, Oranfe is the owner of Ife; Obamakin is the owner of Ife, thus, myself, I am the owner of Ife. We are still claiming it up till tomorrow! That’s the fact! Let me tell you one thing: in Ife today, if they want to get anything from god, they will say,” haa baba mi Oranfe, Iwo loni Ile Ife, Joo je ki ohun ti mo n wa temi lowo…( My father Oranfe, you are our progenitor; let our heart desires be granted!) That’s how they pray up till today. They won’t mention the name of any particular Oba, but they always remember the name of their forefather, Oranfe. That’s it!
In your book,” A history of the oldest throne in Yoruba Land” which you published in 2016, you talked about pre dynastic struggles that existed in the time line of Yoruba history. Can you shed more light on that?
Now in Ife, we are the owners of that place. We have 16 communities in Ile Ife. A lot of scholars testified to the existence of these sixteen communities and acknowledged them in their scholarly work. A Professor of the Obafemi Awolowo University, Ile Ife, Prof. Wande Abimbola acknowledged it that the Olugbo and his ancestors are the owners of Ife. He also said before we left Ife, nobody asked us to leave. We left on our own volition. He noted that Olugbo left Ife to his new place on his own free will. Part of the evidence we have to show the whole world is the fact that we are the husband of Moremi Ajasoro. She is our wife. You can see that we have it here to show the whole world. You see, the fact is there, nobody can contradict it. Look at my book since 2016, nobody has been able to fault or contradict it till date. So, what are we saying? Historical fact speaks for themselves. Not only that book, OAU, Ile Ife acknowledged this fact too in their ‘Odu: a journal of West African Studies – New series No 46’. If my book is not authentic they won’t acknowledge my historical view point; you know OAU for that. So anybody can say anything they like but they can’t confront me because I guard my loins with the truth, fact, incontrovertible fact of history of the significance of Ugbo in Yoruba historical relevance.
You are the Chairman of Peace and conflict resolution council among Yoruba royal fathers. What can you say about unity among Yoruba Obas?
Yes, we have been doing that, trying to reconcile Yoruba royal fathers in order to foster unity amongst us. Don’t forget Yoruba is a difficult race. Let me be sincere to you and to myself, Yoruba is really a very difficult race. There is one thing we call egoism; that’s the major problem affecting us. Some of the conflict issues we have among the royal fathers boil down to egoism and complex. To make the matter worse, a lot of people without the royal blue blood assume the royal stool. So we have challenges curbing and reining in egoistic proclivities and tendencies. In those days before you can become an Oba, you must not be a south paw, you must not be bald headed or hunch backed; if your father is still alive, you can’t assume the royal stool. It wasn’t possible in ancient Yoruba Land! You are getting me? If you are nine fingered or nine toed, meaning you are not complete, you can’t become an Oba. If you are a stammerer or you are a twin, you can’t be an Oba. If you are a female or child of a female kindred to the throne, you can’t be an Oba. The problem we face now is that our tradition has been bastardised, a lot of the things we held dear in our culture had been watered down and have become severely tinkered with and adulterated. My dear brother, those are the kind of challenges we are facing that we are taking our time to correct. The second one is if there is conflict between two royal fathers, we try to settle it amicably between them and we settle a lot of cases. One thing is I don’t do any of these things for anyone to praise me. I can call my colleague royal father who has an issue with another and try to settle the issue and no one else needs to know.
Let’s talk about Ode Ugbo, your kingdom. How far have you developed this great land of your great ancestors?
Beautiful question! You see, I am not trying to be boastful, but the truth be told, this palace is one of the best in the world. I have 25 bedrooms and 14 palatial living rooms in this sprawling palace. If the United States of America’s President visits, he will be conveniently hosted in this palace; I think that’s worthwhile enough! This monument wasn’t here until I ascended the throne of my fathers in 2009. I have changed a lot of things and given this kingdom a facelift. I have restructured the architecture of this terrain. The new things you can see around are the things I changed when I became the Olugbo. Of course, I have empowered my people who are fishermen with modern boats; I have offered innumerable scholarships to our young ones from secondary school to university level, among other notable things I have done to contribute to the well-being of my people. Opposite my palace here, we are planning to build one of the best hospitals in Nigeria. It’s in the pipeline and it’s coming up very soon. I am a private individual, but in my capacity, I have contributed a lot to this land. Before I ascended this throne, Ugbo was a no go area for so many people because of the fear of communal insecurity and threat to life. All that have stopped now! When I came, I told them anyone who tries nonsense, constitutes nuisance or dares to turn my kingdom to a canvas of blood where people are killed would be summarily dealt with and would wind up in jail. I told them all the wanton killing must stop; anyone who tries it is going to jail. And all the insecurity to life stopped! I am glad to say that peace, once alien to Ugbo, has returned to the land since I assumed the throne in 2009. I thank God for that. I have sent all the criminal elements bolting out of Ugbo and my people are enjoying peace and tranquility. I am a peacemaker in the mold of Henry Kissinger of the US White House way back whose name was synonymous to peace in the White House.
Kabiesi, do you think your tenants, the oil companies have done enough for the oil rich Ilaje nation?
No! They haven’t. They always promise to do this and that; I haven’t seen them do anything except for the promises. I am going to 11 years on the throne now, all they have been doing is promises, promises and promises.
How far have you been able to cope with life as a royal father?
Well, I am enjoying it. I am on the throne of my forefathers, so it’s for me a great pleasure. Before I became the Olugbo, I have been a successful business man by all standard. So, I have been a moderately excellent dresser all the way. Now that I am an imperial royal father, I am always in tune with royal fad and fashion , always very careful with what I wear because I always make statement with my outfit: my cloth, my shoe, my crown, my royal staff, even my car , they always rhyme. I am very stylish person with my royal Vogue and this has come a long way. I could remember vividly as a business man, I went to the US in 2007; I was invited by President Bill Clinton to the White House for an award. I could still recall my dapper blazers and all. I bought my outfit at Rosiny in London. The shoe I wore too, I bought the pair at Rosiny also in London. My tie alone was fifty thousand pounds! So, when they saw me, they marveled at my dress sense. After the whole event and the photo-op’ and we had shaken hands, Bill Clinton told me I am an admirable man, an outstanding Nigerian with an admirable sense of dressing. I asked him there and then, Mr. President, how did you single me out of so many business elite corps in Nigeria for the honor and award? Bill said they profiled me and my business concern and concluded I have made an impact in my business life deserving of mention and global recognition. He said, how many Nigerians can give account of their grass to grace rise in the business world in my country? Only a few! He said my background and integrity accounted for the honor the White House has bestowed on me. If you look at my profile, I put it there that I started my oil business from bottle to gallon, to Jerry can, to drum , to dispensing pump before I could have a fueling station. That is my grass to grace story. America wants to know how you started your business, so, my profile really impressed them. My background is transparent and my business is transparent as well, strong enough to pass the test of integrity and due process. So, all along I have been taken things in my stride and I have been enjoying every bit of it. I have coped well so far and I have no course to regret my decision to occupy the stool of Olugbo.
What is responsible for your daring courage?
(Smiles) You see my courage is the function of my mindset. A clear conscience doesn’t fear accusation. I am always daring because I have nothing to fear. It’s God who has given me a lion heart o! You don’t dare he whom God himself has specially made and not regret it! Yet, I don’t have or use anything; it’s God!
What do you have to tell people about Coronavirus pandemic ravaging the country?
Well thank you for that. Coronavirus is real! Coronavirus is real; coronavirus is real. Our people are encouraged to please note that this virus is a novel virus which cure has not been found and it kills within days. I want to appeal to my people in Ilaje, Ondo state and Nigeria to adhere to all the COVID-19 safety protocols as prescribed by the COVID-19 Presidential Task Force. Watch your hands regularly, use hand sanitizer, wear your face masks if you are going out and if it’s not essential, stay indoor! I want to thank our Governor, Oluwarotimi Akeredolu for his sustained campaign for safety across Ondo state concerning the deadly coronavirus. The Governor is concerned about our safety, so each person should please take responsibility for a healthy living so that we all can survive the pestilence.
How about palliatives. Have you thought of giving your people palliatives?
Most definitely, yes. I was the first in this country to give palliatives to my people. I gave them food items and money and it cut across the kingdom. I told you earlier that the well-being of my people is my concern. I have given them palliatives and I will still give them again and again until this COVID-19 challenge clears off. Ondo state government in the able leadership of our Governor, Oluwarotimi Akeredolu (SAN) had also presented Ondo state people with palliatives. I thank him for that too.
Finally your Imperial Majesty, your advice to your people?
Thank you very much. I preach peace among the people of Ode Ugbo. Without peace there can’t be development. I preach contentment because when people are not contented with what they have, their activities brew trouble and unrest. I preach love among my people. Let’s love ourselves so that together we can work for the growth of our kingdom.
I want to tell my people to be patient with the Ondo state government because Gov. Akeredolu meant well for us. He has promised us the Deep sea project; he has promised us Ugbo / Ilaje free trade zone. If we have these two alone, even me, I don’t have to go to Lagos again. That’s why we all need to support Governor Oluwarotimi Akeredolu’s second term bid because he is a man of his words.
I want to appeal to our youths to run away from crime. They should not do “Yahoo yahoo” because it doesn’t last. Our young ones who are ladies should not go into prostitution. It’s not a way of life.
And above all, let’s all us learn how to trust God because He knows what is best for us.
Ramadan fasting month was relatively made easy for many in Lagos because Seyi and Layal Tinubu founded Noella Foundation in partnership with Bolajoko Fadipe owned Food Clique and BUA group are doing a wonderful job. The team is helping in no small way the their collaboration which has gone a long way in reducing the impact of the hardship in town on those fasting by lessening the burden of looking for what to break with on faithfuls by providing free daily Iftar meals (the evening meal with which Muslims end daily Ramadan fast at sunset) at selected locations across the State.
The idea which was announced by Noella Foundation in partnership with Food Clique at the beginning of the fast was later supported by Abdul-Samad Rabiu owned BUA Group is currently at the last count feeding over 6,000 faithful who are likely to have been finding it difficult to conveniently provide both Sahur (the meal consumed daily early in the morning by Muslims before fasting, during the Islamic month of Ramadan. The meal is eaten before fajr prayer) and Iftar because of the effect of COVID-19 forced lockdown on individuals’ economy.
At the moment processed daily Iftar meals being distributed by the team is in excess of 6,000 in different locations across Lagos State. This is also not stopping the continuous distribution of the COVID-19 Emergency FoodBox Initiative support which is to give palliatives to those who are finding it difficult during the Corona Virus forced lockdown and are still not on the list of essential service providers the later partial lockdown opening order of the government granted right to go back to work. They have till date been able to give more than 700,000 meals to more than 23,000 persons across the State.
It is also important to know that Noella Foundation’s relationship with Food Clique has been dated back to late 2018 when the Bolajoko Fadipe owned NGO won Seyi Tinubu’s Christmas Cash Prize giveaway for their effort towards eradicating hunger and they has since then work together on several activities long before their recent one on the Covid-19 ordered lockdown which has increased the numbers of residents of Lagos State exposed to the pang of hunger. The team had worked and likely still working together on the monthly community kitchen project. The idea which will see their team visit various communities in Lagos State every last Saturday of the month to erect a their kitchen where they feeds the needy in the area good, sumptuous and nutritious food in hygiene and clean environments.
The daily Iftar meal project is however a month specialized project aimed to cushion the effect of the economic hardship caused by the outbreak of the pandemic on the fasting faithful during this Ramadan period and it is currently restricted to people in Èbúté Mẹtta, Oshodi, Surulere, Awoyokun community of Onipanu, Onikoyi Road Ikoyi, and Parkview, with the possibility of extending it to other areas before the fasting ends.
There’s a new pair of musical duo in town, Brazil based identical twins of Nigerian descent who’re the next entertainment bomb, waiting to explode.
When this talented duo will eventually be standing before God at the end of this life, they might not have a single bit of their talents left, and could tell the creator, ‘we’ve used everything you gave us., Yes, they’re this passionate about life, career and are being success driven by determination.
The story of Taiwo and Kehinde Afolabi is such an interesting episode worth trying out in a movie script. The identical twins who have passion for humanity are a bunch of talents who have crisscrossed almost a few career fields before taking a dramatic entrance into the showbiz world.
According to the identical twins who live in Brazil, “we’ve always known we’ll end up doing music but the need to satisfy our parents’ career plans informed our early adventures in other fields”, they confessed.
The Afolabi Twins who have decided to honour their Brazilian godfather’s name, Diaz as stage name speak about 4 international languages-Japanese, Portuguese, Chinese and English, “we started life, after our secondary school education by studying Japanese language for a year in Nigeria with the hopes of moving to Japan for further studies but we later jettisoned the idea when we wrote JAMB and got admission at the University of Ilorin for International Studies.
The plan changed again when one of the duo, Taiwo who’s a talented footballer got admission, through a sponsor, into a football academy in Brazil to pursue her ambition as a foreign footballer. She was later signed to play for Guarani FC and Jaguariuna FC, both teams in Sao Paulo State before her sister, Kehinde joined her 7 months later.
Their quests for knowledge informed another decision to go back to school to study International Relations and Political Science before floating an NGO, Youths Without Barriers, a nonprofit making organization that became a human rights organization representing Nigerians in Brazilian prisons helping them to get defense lawyers and elaborate projects to immerse immigrants into the Brazilian system.
The talented duo who’ll soon drop their debut single composes and performs songs for human rights, the environment, girls and women’s causes.
Since its establishment in 1894, FirstBank has consistently built relationships with her customers, focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and effective leadership. These, amongst others, are the reasons the Bank has dominated the financial market for over 126 years.
The Bank has led the financing of private investment in infrastructural development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialization schemes, and entrenchment of the cashless policy which gave rise to electronic cards being a veritable entity in the day to day transactions among the bank’s customers. Consequently, the use of its wide range of cards, developed with the ‘man on the move’ in mind, come with far reaching benefits and rewards, connecting the remotest of places even as the world is plagued by the novel Corona virus disease today.
The world as we know it today, is a global village, and its connectivity is at the tip of an individual’s finger. That aside, it also revolves around the use of ‘ordinary’ but highly customised cards and FirstBank is a confirmed Leader in this space. There’s no gainsaying the fact that for 126 years and counting, FirstBank, Nigeria’s premier bank, with accolades and awards trailing its existence, has continued to blaze the trail in certainly every financial innovation. And as the name signifies, has continued to be the first in virtually everything banking and finance. Little wonder that in December 2015 and May 2016, FirstBank was named the first financial institution in the country to achieve sustained alternative channels transaction volumes of 100 million transactions. Subsequently in 2017, the Bank also attained the Milestone of 10million card base, a feat that is first of its kind in West Africa and Second in Africa.
There is hardly any banking innovation, which is not traced to the company that has overtime woven itself into the very fabric of the society. Commenting on FirstBank’s strides, the Chief Executive Officer, Dr. Adesola Adeduntan, disclosed that the bank’s 53, 000 agents across the country processed about N512 billion worth of transactions with differing values while the lockdown lasted. He noted that the bank was “able to actively support her customers, their families and businesses through these challenging times.” This is nothing short of the FirstBank advantage.
Adeduntan reiterated the faith Nigerians have in the use of FirstBank cards, saying that during the period of the lockdown, Nigerians with FirstBank cards used them 105 million times to make payments or withdrawals worth about N1.18 Trillion as they relied on the Bank to settle their banking needs. In addition, the Bank’s CEO noted that approximately 12.6 million withdrawals to the tune of N156 billion were carried out across FirstBank’s ATMs nationwide.
“Our customers made transfers over 106 million times with a total value of about N8.18 Trillion across our digital channels. We have also recorded over 275,000 new sign-ups to alternative channels covering our Firstmobile, USSD and First-Online platforms,” the CEO informed.
While calling on lovers of stress-free banking to get on board, the FirstBank CEO further assured existing customers of the bank’s relentless efforts to ensure that banking transactions continue seamlessly, adding that COVID-19 will not slow down her activities and efforts at staying true to her brand promise to her customers.
FirstBank cards come in a wide range of categories, each fulfilling tasks that are better imagined, but nevertheless are flexible and offer comfort, stress-free banking and wholesome peace of mind. It is therefore not a coincidence, that FirstBank is and remains Nigeria’s highest card transacting bank; a product of carefully thought out process, hard work and the quest to keep its customers first in all things. This is especially important at a time when movement and business activities were largely hampered by the lockdown, with the maintenance of social distance and the potential increase in the use of the Bank’s alternative channels – which is facilitated by its cards – for various transactions and business activities, thus staying safe to win the fight against the COVID-19 pandemic.
The range of cards available to customers of FirstBank are categorised into three broad groups, viz; DEBIT, CREDIT and PREPAID Cards. The grouping covers outstanding cards offerings such as Naira MasterCard, Verve Card and the pioneering Visa Multi-Currency Card. Others are Expressions MasterCard, Platinum MasterCard, Visa Infinite Credit Card, Visa Gold Credit Card, Naira Credit Cards (Visa Classic and Platinum), Visa Prepaid Card and Verve Prepaid Card.
FirstBank’s Naira MasterCard & Verve Card are Secured by Chip & PIN technology with local POS/Web limit increase available upon request. The Naira denominated MasterCard comes with various benefits such as online purchases, bills payments and cash withdrawals at ATMs world-wide. The various transaction limit(s) on Naira MasterCard issued by the Bank are N150,000 for ATM transactions, N2,500,000 for POS and N1,000,000 for Web transactions.
The FirstBank Verve Debit Card works with Chip and PIN technology to secure transactions. It allows the cardholder to conveniently pay for goods and services and is accepted by all ATMs, POS, Web, Mobile, Kiosk, and Bank Branch connected to the Interswitch network in Nigeria. It is available to all account holders and enables daily transaction limits of N150,000, and N500,000 on ATM and POS channels respectively. Customers can transact up to N1 million on the Web in a single transaction.
FirstBank cards also offer the Card Protection Transactions feature, which allows the cardholder to activate or deactivate it for all types of transactions, channels and locations, through the Card-in-Control Service on the Firstmobile app. The steps are few and simple: On the Firstmobile app, go to Self Service > Card Services and choose card type (Debit, Credit, or Prepaid) to be activated or deactivated.
Another card innovation service by FirstBank is the Visa Gold Card, which offers higher daily spending capacity and limit on ATM, POS and Web. With the Visa Gold Card, the customer is assured of $1,000 daily ATM withdrawal, $10,000 POS transaction and $5,000 on the Web at any location around the world. It is a dollar denominated international Premium Credit Card issued in partnership with Visa International.
Moreso, it guarantees access to international emergency services such as Emergency Card Replacement & Emergency Cash Advance in situations where the card gets lost or damaged. The Visa Gold card comes handy when making airline bookings with its smooth seamless purchase options.
Yet another, among the FirstBank’s super cards, is VISA Debit Multi-Currency Card. It is by all intent and purpose, the first of its kind to be offered by any financial institution in Nigeria. It is an enhancement to the existing Visa Debit Dual Currency card and can be linked to any or all NAIRA, USD, EURO and GBP accounts. It is an international card with Chip and PIN technology which can be used to make payment anywhere in the world and across all channels – ATMs, POS & Web. With the Visa Debit Multi-Currency card, cardholders can make daily withdrawals to the tune of N150,000 (local) and $1,000 (international) from the ATM. However, on the Web, a total of N1,000,000 is permitted locally while $6,250 is allowed on the international corridor daily. POS transaction limit is N2,500,000 (local) and $2,500 (international).
The Platinum Debit MasterCard is a premium Debit Card denominated in Naira. It is linked directly to a customer’s Naira denominated Current and/or Savings account. It offers a convenient alternative to the use of cash, and cheques by giving direct access to funds in cardholders’ accounts across all channels like ATM, POS, and WEB etc.
Like other card types, its transactions are easily monitored via the FirstBank FirstMobile App or FirstBank Internet Banking service and offers 24-hour access support for all card-related complaints through First Contact. It is a card linked to a Naira denominated account, and it is valid for three years.
It is designed to suit the lifestyle of senior and management executives of multinational companies and leaders across various industries and sector of the global economy. Its daily limits include; ATM: N300,000; POS: N3million; Web: N2,000,000 as well as Cross-border TXN limit: $500 monthly.
For a brand that has consistently remained on top of its game, FirstBank Cards have received global recognition, as well as multiple honour for its reliable and trusted services.
Speaking further, Adeduntan highlighted that the contactless capability of the bank’s Visa and MasterCards support less human-to-human contact in executing transactions, in the same way that the Debit Cards have remained the base channel for self-onboarding to any digital channel such as USSD, Firstmobile, FirstOnline etc. It is therefore, imperative that customers get a Debit Card because of its peculiar nature to get enrolled on FirstBank’s digital channel for the best of services.
FirstBank’s benevolence did not end with making cards available to customers, but has initiated value added services attached to the cards including ‘discount at Merchants location such as Jumia Friday, Health Plus, among others. These are, without an iota of doubt, exclusive to FirstBank cardholders. This is why you must get your card(s) if you are yet to. Email us at firstcontact@firstbanknigeria.com, or call your Relationship Manager/Private Banker for whatever card options you require.
Apparently misconstruing the bank MD/CEO’s core message, the media recently alleged that Access Bank Plc, one of Africa’s largest retail bank by retail customer base was embarking on mass sack of workers and closure of branches. This ‘misinformation’ has been appropriately repudiated. But with traditional business models and banking metrics being upended by the post-Covid-19 global operating environment, only audacious innovators in the sector can remain relevant, writes Sani Ahmed.
Mr Herbert Wigwe
In his recent best-selling book, “The Age of Agile”, Steve Denning, former program director of knowledge management at the World Bank, discusses a “Copernican revolution” of management that puts the customer at the center, rather than the firm. It was the Polish astronomer Nicolas Copernicus who independently proposed the theory that the Earth revolved around the Sun, not vice versa, a blasphemous idea in the 16th century.
Clearly, banking remains a relationships business. For ages, banks have tried to leverage that relationship to grow and maximize shareholder return. Because of her emphasis on the long term, Access Bank Group, one of Africa’s largest retail banks by retail customer base with proven risk management and capital management capabilities apparently may make decisions and weigh tradeoffs differently from much of her industry competition. This requires an organisational cultural transformation, as Denning argues, and especially at banks that have long been driven by traditional metrics.
Denning who also authored “The Leader’s Guide To Radical Management,” and was Visiting Fellow at All Souls College, Oxford University, UK certainly has his point, especially as the Covid-19 pandemic massively disrupts conventional business playbooks and upends the global economy.
It is against the background of these existential uncertainties and daunting global economic challenges spawned by the new coronavirus scourge that the media reported alleged plans by Access Bank Plc to sack 75 per cent of its staff and shut down 300 branches. Good a thing, the bank has repudiated the allegations as unfounded.
In a statement signed by Mr. Sunday Ekwochi, its Company Secretary, posted on the Nigerian Stock Exchange (NSE) website, the bank clarified that the closure of a bank branch was an action that required the approval of the Central Bank of Nigeria (CBN).
According to the bank, it has not applied for nor obtained the approval of CBN for the closure of its branches as widely speculated. “The bank has only suspended operations in some branches following the directive by the CBN. At the onset of the COVID-19 pandemic lockdown, we suspended in-branch operations at different locations as directed by the CBN and in line with business continuity plans at vulnerable spots; whilst we continued to provide services through our alternative digital platforms,” it stated.
Further the bank stated that, “In line with the phased re-opening of the economy effective May 4 (last week), following the Presidential directives, we will be resuming in-branch services in some of our affected branches in a programmed manner to ensure the health and safety of our employees and customers.
“This is also necessary to provide relevant contingency should there be any incident arising from the pandemic. We deny in its entirety the baseless and twisted speculation that the bank is sacking 75 per cent of its workforce.”
It noted that based on the impact of the COVID-19 pandemic, not all its branches would be fully open for in-branch services until later in the year. “This has made it impossible for many of our outsourced workers to perform duties as usual. We have commenced engagement with various stakeholders with a view to ensuring that they provide the relevant services and optimum manpower as may be required by the bank on an on-going basis,” it added.
The bank, however, assured its esteemed stakeholders that it would continue to ensure that its actions and decisions are guided by fairness, justice, equity and good conscience.
It must be noted however that the bank like any other company has the right to review its operational cost economic realities, especially in post COVID era that has already begun to redefine how businesses operate or will operate going forward. Since its merger with ailing Diamond Bank, Access has neither laid off workers nor closed branches. There is no doubt the bank must at some point have to cut branch proximity to reduce cost. For instance where Access Bank and defunct Diamond Bank were previously operating in close proximity, sometimes a few yards apart, is it economically wise to still retain the two branches now that the two have become one? Of course not. It only make business sense to consolidate the two branches into one to reduce cost. The bank is first and foremost a business concern that must take decisions based on what it assesses it’s in its best business interest. It is not a charity organization but a commercial enterprise.
It was in bad faith in the extreme for some hideous staff to record the internal strategy deliberation and conversation between the Managing Director and senior staff and deliberately twist it out of context to misinform the public to create a social media storm. To many Mr Wigwe was only showing transparency in his handling of issues the bank is bound to address at some point. Transparency is his second nature a virtue lacking in many people in managerial positions across the country.
Wigwe did the right thing in addressing the issues and being transparent about it. He led by personal example and took a 40 percent pay cut.
Currently, many financial institutions world-wide are reviewing banking models. Indeed, more recently the CEO of U.K lender, Barclays Bank says after COVID-19, banking models have changed forever as people get used to working digitally from home making brick and mortar and big offices models unsustainable going forward. In effect, modern banking, not to talk of post covid-19 banking will de-emphasis physical structures and run more on digital templates, platforms and footprints.
From THISDAY sources, it was this new normal that strategic thinking Access CEO Herbert Wigwe attempted to discuss with his financial institution’s staff when clips of his presentation was altered to portray him as going for mass sack of employees. Noted Amaechi Okobi, Head of the banks Corporate Communications, “the presentation was doctored to give a wrong impression and shared on social media in an attempt to blackmail the bank. We are reviewing all options as we need to support all staff through these challenging times while ensuring efficiency and value in our new normal…We will continue to support all staff and stakeholders.”
Access Bank CEO Herbert Wigwe is not the kind of professional who stays tamely at the receiving end of received policy prescriptions. He covets knowledge-driven innovations, proactive engagement with stake-holders, policy makers, fluid operating environments and sure-footed action. These dimensions are boldly mirrored in his nimble leadership of one of the continent’s banking behemoths.
He believes it was because of a lack of appropriate adaptive response to powerful environmental changes eons ago that doomed the lumbering dinosaurs which then roamed the earth. To Wigwe, the Access Bank under his watch is no dinosaur.
Access Bank Plc. is a leading full-service commercial Bank operating through a network of more than 600 branches and service outlets, spanning three continents, 12 countries and 31 million customers. The Bank employs 28,000 people in its operations in Nigeria and has subsidiaries in Sub-Saharan Africa and the United Kingdom (with a branch in Dubai, UAE) and representative offices in China, Lebanon and India.
Listed on the Nigerian Stock Exchange since 1998, Access Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise and proven risk management and capital management capabilities. The Bank serves its various markets through four business segments: Retail, Business, Commercial and Corporate. The Bank has over 900,000 shareholders (including several Nigerian and International Institutional Investors) and has enjoyed what is arguably Africa’s most successful banking growth trajectory in the last twelve years. Following its merger with Diamond Bank in March 2019, Access Bank became one of Africa’s largest retail banks by retail customer base.
As the birth pangs of new global business order, midwifed by the Covid-19 pandemic unfurl, only bold and strategic thinking will define survivors. This is the forte of Herbert Wigwe – as he makes critical decisions and weighs game-changing trade-offs. It’s game on.
In light of the sharp dwindling in the global economy occasioned by Covid-19 pandemic, the MD/CEO of Heritage Bank Plc, Ifie Sekibo disclosed that with partnership, truth, character and rigorous commitment to businesses, the micro, small and medium enterprises (MSMEs) stand to revamp the nation’s economy for sustainable growth.
He also stated that evidences have shown that for SMEs to continue to survive and remain the bedrock of any vibrant economy, the players must continuously reinvent themselves, complement each other, dream big, possess cutting edge ideas and think and rethink before venturing into businesses.
Speaking during a webinar session, a virtual conference platform at the Upgrade Summit 2020, on the theme, “Converting Ideas into Reality with Focus on SME’s” Sekibo emphasized the need for SMEs to look inward, learn and relearn, possess the spirit of self-sacrifice and believe, whilst advising that they must be bold and should not be afraid to fail because failing is not a failure and should not give up because they had failed.
According to him, most entrepreneurs burn with ideas but they need to mine them so that they could blossom, remarking that they need to have mentors that will enable them to achieve their goals and sell the ideas.
“Among small and medium-sized enterprises (SMEs) in Nigeria, there has been too much of an individual focus, rather than a holistic or intergenerational focus. There is not enough focus on partnership among Nigerian SMEs and this causes ventures to fail,” Sekibo stated.
Meanwhile, he reiterated that more needed to be done in the area of empowering entrepreneurship sector by the government and financial institutions because it is an agent of development.
On Heritage Bank’s efforts so far, the MD/CEO affirmed that its philosophy does not rely on traditional banking metrics like growth in the number of accounts, but according to him, “one of our major cardinal point as a bank is supporting micro, small and medium scale businesses and our strong desire to see young men and women succeed in any area of their business. This will help the society and economy to grow, thereby moving the nation from poverty occasioned by Covid-19 to prosperous economy,” he added.
Sekibo, however, hinted that SMEs could take advantage of its products for seamless banking transactions to boost their businesses like Stockit, HBPadie and the newly launched 24/7 alternate electronic platform via USSD Code *745#.
“We have encouraged SMEs and customers alike to adopt the self-service platforms like *745*0# for balance enquiry, Funds Transfer (Within Heritage Bank): *745*1*Amount*Account Number#, self-airtime recharge: *745*Amount#, third party airtime recharge: *745*Amount*Mobile Number# and change pin: *745*00#,” he said.
He further explained that the entrepreneur schemes of the bank in the support for business had always focused on dependable job-creating sectors such as the agricultural value chain: fish farming, poultry, snail farming, etc., cottage industry, mining and solid minerals, creative industry: tourism, arts and crafts, and Information and Communication Technology (ICT).
Nigeria’s leading financial inclusion services provider, First Bank of Nigeria Limited has announced that its *894# Unstructured Supplementary Service Data (USSD), Quick Banking service has hit over 9.5 million customers. This is in clear demonstration of its acknowledged leadership in electronic Banking. The Bank’s USSD banking service, launched in January 2015, is an easy to use, convenient, fast, user-friendly mobile banking channel through which various banking activities are carried out on a mobile phone – across the four major GSM network operators in the country – without the use of the internet.
Customers are able to enjoy a wide range of banking services using the Bank’s *894# USSD banking. These services include; Data and Airtime top-up for self and third-party individuals, Quick Balance Enquiry, Fund Transfers, BVN Enquiry, BVN Linkage, Mini-statement, Account Number Enquiry, Account Opening, Merchant Payment and FirstAdvance loan service. The FirstAdvance loan service enables salary earners to take a loan up to 50% of their monthly salary.
In the words of Chuma Ezirim, FirstBank’s Group Executive, e-Business & Retail Products, “At FirstBank, we are excited about the impact our innovative solutions are making in the Nigerian payment landscape. Our *894# USSD banking has been a viable platform through which we take our banking services to the doorstep of our customers, right on the palm of their hands, without the limitation of an internet connection. We remain committed to creating various avenues to enable Nigerians carry-out various financial activities conveniently, safely and securely anytime, anywhere in Nigeria.”
