Banking/Finance Archives - Page 11 of 52

FIRSTBANK DECEMBERISSAVYBE: IF YOUR DECEMBER IS NOT VYBING, YOU AREN’T IN DECEMBER

In Nigeria, the first day of December ushers in the advent of the festive season which runs through the month progressively till early January when businesses and official duties resume fully again. December, in the world’s most populous black nation, is characterised, with fascinating scenery, by shops, streets, offices and homes getting decorated with twinkling lights and dazzling ornaments.

The month also welcomes religious festivities of Christmas, the biggest celebration for christians globally which takes place just a week before the New Year rolls in amidst celebration unmatched by any other from the rest of the year. The season is generally enveloped by festive concerts, feasts, celebrations, carnivals, musical shows, colourful decorations and family reunions.

For almost everyone, it’s a time to merry with friends and family, attend celebratory events, give and accept gifts, enjoy entertainment and feast together. December is such a big deal in Nigeria and the people know just how to savour the moments well. Interestingly, the celebration is not limited as it cuts across all classes and shades irrespective of social status, religion, personality or age – the rich, poor, young, old, cool and radicals. It’s usually a time everyone earnestly awaits for fun, merrymaking and relaxation, mentally and physically. In fact, to get ample time for merry making, employees in Nigeria push hard in offices to get annual leave approvals for the period.

Another key, exciting hallmark of the festive season is the homecoming visits of Nigerians who have travelled abroad for greener pastures, a trend popularly called ‘Japa’ in local parlance. It’s a common belief that the Nigerian spirit is a hustling one, and no distance is too large to scare a Nigerian from a potential source of income, be it the journey from the remotest village to Lagos, or from there to the farthest corners of the world. The December period thus presents an opportunity to reunite families.

The returnees constitute an essential ‘life of the party’ as they hit the country ready to visit places, mingle and bond, to the admiration and embrace of peers and family members. It’s always a great period for the returnees and their loved ones to create great memories, spending time, going round town for great entertainment and having fun together.

Their presence also commands attention and adds colour to village and town hall meetings, community projects and social gatherings, especially wedding parties, as well as other family functions deliberately fixed around the season to court the beloved presence of the “I just got backs” who bask endlessly in the euphoria.

First Bank of Nigeria Limited as a company with the mantra of being woven into the fabrics of society has continued to demonstrate its understanding of the uniqueness and essence of the festive season with its consistent support for same through the ‘December Is a vybe’ campaign.

Unfortunately, the Nigerian economy has struggled sluggishly for some time with attendant harsh impact on individual and household finances and sliding purchasing power. This gets worsened by the galloping inflation, increasing cost of living and the sky rocketing price of premium motor spirits (PMS) locally called petrol.

Yet, the average Nigerian craves for great fun and quality entertainment during the Yuletide season. So, the December festivities come as added weight with tickets as high as N70K for A-list musical acts like Asake, Kizz Daniel, Burna Boy, Davido, Wizkid and others.

To throw off the weight, the December Is a vybe campaign offers free VIP tickets from FirstBank to Nigerians for access to coveted A-list musical concerts, opera, comedy shows, stage plays, dance and other genres of entertainment throughout the festive season to assure maximum pleasure.

Folake Ani-Mumuney, FirstBank Global Head, Marketing and Corporate Communications said, the premier financial institution which has operated in Nigeria for over 125 years deliberately orchestrated the campaign to create platforms for Nigerians at home and those returning from abroad to enjoy entertainment, bond well and enjoy the best of the festive season together after a period of separation in pursuit of excellence and success.

“Through ‘December Is a vybe’, FirstBank has always brought Nigerians the best exciting, fun-filled, memorable experience in December with the sponsorship of concerts, creative arts; food Fiesta; fashion etc and it’s set again with a bang in 2022 ready to enable people relive the experience and live their dreams, ” she stated.

She noted that the 2022 edition offers fresh opportunities and platforms for yet another memorable Homecoming experience this December for Nigerians visiting from abroad; wedding celebrants; friends and family reunions. FirstBank ‘December Is a vybe’ offers the returnees a good opportunity to reunite and enjoy premium entertainment with family and friends.

She explained: “The programme has not slowed down since it kicked off. We supported Waka the Musical in 2017 which was also taken to Abuja in 2018. We gave Nigerians premium access to Davido show amongst others in 2017, Burna Boy in 2018, Future in 2019, Davido and Burna in 2021 and for 2022, we will start with VIP access to Kizz Daniel’s show, followed by many more.

The foremost banking giant has in recent years made December quite memorable. From the exciting Alternative Sound 4.0, held at Terra Culture on 5 December, 2019 to the memorable Cardi B live in Lagos by Livespot Concert on 7 December 2019 and the unforgettable “An Evening with FBNHoldings” held on 13 December, 2019 to the pleasure overload of Island Block Party at Oniru Lagos on 14 December, lucky customers and followers of the Bank’s social media handles were given free tickets to have loads of fun!

Also, in the bouquet of fun extravaganza was Teni – The Billionaire Experience musical concert held at Eko Hotel on Monday, 16 December 2019 which had many thrilled to the finest of tunes by the Billionaire crooner and other guest artistes present.

The annual Nativeland music festival at Muri Okunola Park was another fun spot which has since its inauguration in 2016, featured breathtaking performances by A-list artistes.

Youth and teenage fashionistas were not left out; as with Street Souk, they had a feel of current trends and creativity in the fashion industry. The event held on 18 December 2019. For those keen on getting the best and latest designs, wears and fabrics in fashion, the African Fashion Week Nigeria was another port of call. The event which held 20 – 21 December, 2019 attracted leading players in the fashion industry and deepened the fashion appetite and interest of participants.

Building into Christmas was Flytime Rhythm Unplugged, which started on 20 December at the Eko Hotel and Suites. The 5-day music festival had performances from leading artistes in the country. Olamide, Burna Boy, Tiwa Savage, MI, Ycee, Patoranking, Mayorkun, Teni, Zlatan, Joeboy, Fireboy, B Red, Tolani, Jeff Akoh, Oluwadamilola thrilled fun lovers to the best of charts topping tunes not just in Nigeria but the continent. On the wheels of steel was DJ Neptune, DJ Consequence, DJ Obi, and DJ Cuppy.

Kizz Daniel’s Toro concert on 26 December 2019 and Tu Face’s musical show on 28 December built up to the wrap-up of the list of December events with Future, the American rap music sensational performance live in Lagos.

The Future Live in Concert held on 29 December 2019 at the Eko hotel. The 80s boy band, New Edition performance at the FlyTime Music Festival in Lagos was also electrifying with Burna Boy Live, Davido Live and many more in action!

For plays, the December Issavybe train featured sponsorships of Moremi and Oba Eshugbayi plays which focused on highlighted history of Lagos: the struggle over water tax imposed by the British on the people of Lagos and the expulsion of Oba Esugbayi, who stood against tax, to Abeokuta. The play was from the stable of Joseph Edgar of the iconic Duke of Shomolu Production.

Two lucky fans, Tina Ediale and Timilehin Anibaba, amongst others got to see their favourite star Davido Live in Concert; another winner, Azeez Animashaun couldn’t believe his luck when he got a VIP Rhythm Unplugged ticket while some got special treat watching ace actress Omotola Jalade Ekeinde as Esumirin in Moremi The Musical. Social media followers also scored invitation to parties including Island Block Party, All Black Everything; conferences Golas Grit Grind 2.0; festivals: Native Land, Palmwine Festival; and pop-up sales: Mente de Moda.”

For the 2022 campaign, FirstBank says it will start the festive season with VIP access to rave of the moment, Kizz Daniel’s show. Kizz is so loved right now and many Nigerians especially women can’t seem to get enough of his monster hit, Cough (Odoyewu). He also has many songs that will make his show a delight any day, including Buga, Lie, No Wahala, Oshe, Yeba, One Ticket, Woju, Laye, Jaho, Sofa and many others. With First Bank, December promises to be an awesome experience!

To participate, all that is required is to just follow FirstBank’s social media pages and updates on – Facebook: First Bank of Nigeria Limited, Instagram: @firstbanknigeria and from there get the tickets.

FIRSTBANK, OTHERS PARTNER WITH JUNIOR ACHIEVEMENT ON AFRICA’S LARGEST HIGH SCHOOL ENTREPRENEURSHIP COMPETITION

Winners of the FirstBank Sponsored National Company of the Year (NCOY) Competition Represents Nigeria in the ACOY Competition

FirstBank has partnered with JA Africa on Company of the Year (COY) Competition, Africa’s largest high school entrepreneurship competition scheduled to take place in Lagos, Nigeria from 7th to 9th December under the theme, “Fueling Changemakers.”

The JA Africa Company of the Year (COY) Competition which returns for the 12th year in a row and the first in-person meeting post-COVID, after two successful virtual competitions is JA Africa’s annual celebration of winning teams from the JA Company Program, a program which equips senior secondary school level students with the entrepreneurial skillset and mindset to solve problems in their communities by launching a business venture and unleashing their entrepreneurial spirit.

The young entrepreneurs who compete at JA Africa’s COY go through qualifying competitions at national and sub-national levels, competing against thousands of youth startups to qualify for the regional competition. This program transitions them into employment and transforms them into employers. Having emerged as national winners, they will represent their countries on the continental stage where they have the arduous task to impress a panel of international business professionals who serve as judges.

FirstBank’s sponsored winners of the 2022 Junior Achievement Nigeria (JAN) National Company of the Year (NCOY) Competition – Green Apex from the International School, University of Lagos – will represent Nigeria in the JA Africa Company of the Year (COY) Competition.”

“Given the increasingly complex set of global challenges facing young people around the world from unemployment to climate change and food shortage, we focus on equipping our students to be solution providers who bring about positive change within their communities while developing businesses that generate wealth,” said Simi Nwogugu, JA Africa’s CEO. “Our students have demonstrated great resilience and innovation in grappling with these challenges and I am extremely proud of all of them. I am also deeply grateful to all our sponsors who stayed with us throughout the pandemic period and contributed greatly towards making this a live event again.”

Also speaking on the forthcoming Africa Company of The Year Competition, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank said; “the 2022 Junior Achievement Company of The Year competition remains another viable opportunity to promote the entrepreneurship skills, spirit and talent innate in school children, across Africa. We commend Junior Achievement Africa on the COY initiative as it serves as an avenue to expose participants to inter-cultural values and traditions that will foster the unity of the continent.

We wish all participants, particularly the Nigerian representatives – Green Apex from the International School, University of Lagos – the best as learnings from every initiative could solve critical problems facing mankind as we collectively make the world a better place.

This year, nine student startups representing Eswatini, Kenya, Ghana, Nigeria, South Africa, Tanzania, Uganda, Zambia and Zimbabwe will put their business acumen to the test as they present the achievements of their businesses in numerous formats to win the prestigious title of JA Company of the Year and other amazing prizes from the sponsors. The highest among the prizes at stake will be the opportunity to represent the African region at the Ralph de la Vega Global Entrepreneurship Competition which will bring together COY winners from the six regions where JA Worldwide operates to compete for awards, $15,000, educational opportunities, and more.

The 2022 JA Africa COY Competition is made possible by the generous support of Headline sponsors FedEx, Citi Foundation and PMIEF; Platinum sponsors: Bloomberg, Johnson & Johnson, Delta Air Lines and First Bank of Nigeria Limited; Gold sponsors: Tomorrow Foundation, Nascon, GB Foods and Rise, who by supporting this competition are demonstrating their commitment to job creation and youth empowerment on the African continent.

For more information, visit: www.ja-africa.org/coy2022

Winner of the 61st FirstBank Lagos Amateur Open Golf Championship gets listed in The World Amateur Golf Rankings (WAGR)

Winner of the 61^st FirstBank Lagos Amateur Open Golf Championship gets listed in The World Amateur Golf Rankings (WAGR)

Emmanuel Ojeabulu, winner of the 61^st FirstBank Lagos Open Golf Championship has been listed in the WAGR.

The premier golf championship which was held from 18 – 20 November at the golf section of Ikoyi Club 1938 was keenly contested by over 190 low handicap players from several golf clubs in the country. Benin based Emmanuel Ojeabulu won the 3-day championship.

Playing three-shots off the pace going into the last 18-holes, Ojeabulu played one of the best golf of his life, maintaining steady pars for a closing 74, 3-over the course par to win the World Amateur Golf Ranking recognized event by two shots.

Ojeabulu started his game with an opening 75, a second day score of 78 and a closing 74 to replace Ilorin based Aminu Kadir, the tournament defending champion on the winners list.

Overnight leader, 20-year-old product of David Mark Golf Academy, George Paul who was tipped to win the tournament collapsed under pressure closing with an unimpressive 79 to lose by two-shots.

In the third position is Muyideen Olaitan, three-time winner of the coveted FirstBank Lagos Open trophy while Iyare Osaze was further down on the winners chart by one-shot, leaving perennial contender, Olajide Owolabi, who shot tournaments best score of 72 on day two of the competition in the fifth position.

First Bank of Nigeria Limited, sponsors of the annual Lagos Amateur Open Golf Championship has pledged its commitment to the continuous sponsorship of the tournament which is one of the longest running golf tournaments in Nigeria.

Speaking at the closing ceremony of the 61^st edition of the tournament in Lagos on Sunday, the Chief Executive Officer of FirstBank, Dr. Adesola Adeduntan who was represented by Executive Director, Chief Risk Officer of First Bank of Nigeria Limited Mr. Olusegun Alebiosu said “This year made it 61 years of our undiluted commitment to this cause, and we are absolutely delighted with the amazing support and partnership we have enjoyed from Ikoyi Club 1938 thus contributing to building a legacy not only for golf and golfers, but sports in its entirety.

To all the amateur golfers produced at this year’s championship, these champions are an inspiration and testament that you can do the impossible and I look forward to celebrating you as winners in future championships. Remember that in the words of Ben Hogan, “The most important shot in Golf is the next one”, he added.

Satisfied with the turnout of the participants, Golf Captain, Tony Oboh thanked the sponsors for keeping the tournament going, saying FirstBank commitment should be emulated.

“It is not easy to keep a tournament like this going, I therefore congratulate FirstBank for their commitment”, Oboh said.

Since its debut, FirstBank Lagos Amateur Open Golf Championship has been the most consistent and premier amateur golf event in West Africa and has produced great champions most of who are competing in the elite professional golf cadre. Last year, the Championship threw up Ilorin based Aminu Kadir who won the landmark edition. It is expected that this year’s edition will produce another great winner.

Other FirstBank-sponsored sporting events include the Georgian Cup of Kaduna Polo Tournament, sponsored for 102 years; the Dala Tennis Hard Court in Kano Club for over 30 years; the Obasanjo Pro-Amateur Golf tournament of Abeokuta Club now in its 6th year. The Bank’s influence in the development of sport in Nigeria is under its First@Sport initiative.

THE MEMORY OF PROF. IBIDAPO-OBE COMES ALIVE AS ZENITH BANK NAMES ICONIC UNILAG ALUMNI BUILDING IN HIS HONOUR

The memory of Professor Oyewusi Ibidapo-Obe, a former Vice Chancellor of the University of Lagos, came alive as Zenith Bank Plc named the iconic building housing its Unilag Branch and the University of Lagos (Unilag) Alumni in his honour on Friday, November 25, 2022.

In his opening remarks at the commissioning ceremony, the Group Managing Director/CEO of Zenith Bank Plc and Chairman of the Body of Banks’ CEOs in Nigeria, Mr Ebenezer Onyeagwu, lauded the Founder and Chairman of the bank, Jim Ovia, CFR, for being physically present at the commissioning of the building to honour the memory of his late friend, Prof. Oyewusi Ibidapo-Obe, who served on the board of Zenith Bank as a Non-Executive Director, and for his passion for youth education and digital learning.

He noted the remarkable and continued commitment of Jim Ovia, CFR, to education and youth development in Nigeria, especially through the setting up of James Hope College, a co-educational institution which offers a combination of British and Nigerian curricula, and the James Hope University, which is billed to commence academic activities next year. He also extolled his philanthropy through the setting up of the Jim Ovia Foundation and Mankind United in Total Support for Education Initiative, which has awarded scholarships and produced over 1500 graduates from among indigent people who would not have had the benefit of having a university education.

Onyeagwu also recalled how the bank’s partnership with the University of Lagos began in 2001 with the donation of the first ICT centre, when the Founder and Chairman was the Group Managing Director/ CEO of the bank. According to him, “Today, Zenith Bank has built not less than 15 ICT centres in various tertiary institutions and cities all over the country. And I just want to say that no single institution or individual has been able to accomplish what we have done in that respect. And this is a demonstration of the passion our Founder and Chairman has, not just for education, but also for digital learning and computer literacy. This is in addition to several other support to the university, including the institution of Academic Excellence Awards in 2001, where the best graduating students from selected departments – Banking & Finance, Business Administration, Economics and Accounting, receive awards with financial rewards (currently NGN500,000) and employment opportunity, and the donation of 3,500 tablets to enable indigent students of the university to learn online effectively in 2020 during the Covid-19 pandemic”. Onyeagwu noted that the building is a strong statement of Zenith Bank’s sustainability initiatives as a signatory to several global sustainability frameworks including the United Nations Principles for Responsible Banking, as it incorporates many of the elements that make a facility environmentally friendly and sustainable.

Speaking at the commissioning of the iconic building, His Excellency, the Executive Governor of Akwa Ibom State, Udom Emmanuel noted the huge contributions of Zenith Bank and, in particular, Jim Ovia, CFR, a man he described as a father, to the development of Nigeria. In his words,” when you see things being done consistently in the right way, there is always a man pointing in that direction. A lot of people ask me how come you are doing so much in public service; I say I come from a background where my mentor told me that you don’t report efforts, you don’t give excuses, but you report results. So no matter the situation, even in the midst of an economic recession, in the midst of Covid, you should not stop development and performance. As far as you are from the Zenith family, you are expected to have that creativity and ideas that can make you produce results. In Zenith, we say only the paranoid survive. So I really want to appreciate what I am seeing here today”. Whilst thanking the alumni association and the school authority for their collaborative efforts towards achieving capacity development, which he described as the bane of Nigerian society, he expressed his delight and honour to commission a building named after the revered Late Prof. Oyewusi Ibidapo-Obe, who touched and impacted so many people while he was alive.

In his address, the National President of Unilag Alumni Association, Dr. John Momoh, thanked the Founder and Chairman of Zenith Bank as well as the management of the bank for the magnificent building and Mrs. Sola Ibidapo-Obe for accepting the association’s request to name the building after her husband as a lasting legacy in his honour. He encouraged everyone to take good care of and maintain the building to serve the university community for years to come.

In her remarks, the Vice Chancellor of the University of Lagos, Prof. Folasade Ogunsola, acknowledged the invaluable contributions of Zenith Bank to the development of the school, promising to work with the Alumni association to ensure that the facility serves not only the Alumni but also the entire students populace. She thanked the Founder and Chairman of Zenith Bank, Jim Ovia, CFR, for donating 3,500 tablets to the university, which ensured that students who could not afford laptops for e-learning during the covid-19 pandemic were not left behind.

In her remarks, the wife of the Late Prof. Oyewusi Ibidapo-Obe, Mrs. Sola Ibidapo-Obe, thanked the Founder and Chairman of Zenith Bank, Jim Ovia, CFR, for immortalising her late husband with such a great edifice named after him. Recalling how close he was to her late husband, Mrs Ibidapo-Obe said: “You are my husband’s friend. Dr. Jim Ovia has demonstrated the love that does not die in his friendship with my beloved husband. When he fell ill, Dr. Jim Ovia was there from day one till the last moment. I could feel the way he felt. From then, I knew that he was a genuine friend. He tried his best to ensure my husband survived, but he did not”.

The iconic building, which sits on a total site area of 950m², was constructed by a team of world-class builders who had the mandate of delivering the best quality possible. The iconic structure is a smart building that incorporates many of the elements that make a facility environmentally friendly and sustainable, including a grid-tie solar system that sustains power load on solar and not on a generator or national grid, an inverter-driven VRF air conditioning system and motion sensor lighting to enhance energy efficiency, perforated aluminium composite panels for natural lighting and ventilation, free Wi-Fi system to provide internet access for students, fire management systems, including fire hydrant, smoke detector, and fire alarm system, and a LED screen installed on the building for the dissemination of information. The iconic building will house the Unilag Branch of Zenith Bank Plc and the operations of Unilag Alumni. Of the total 1,665m² of floor area designated for office use in the four-storey building, 585m² will be used by Unilag Alumni.

SPECTACLE AS ZENITH BANK LIGHTS UP AJOSE ADEOGUN STREET FOR THE YULETIDE SEASON

It was a great spectacle to behold as the Christmas and Yuletide season came to life at the 2022 Zenith Bank Christmas Light-Up Ceremony, which was held at the Ajose Adeogun Street Roundabout, Victoria Island, Lagos, on Saturday, November 19, 2022. The official lighting ceremony, which was performed by the Group Managing Director/CEO of Zenith Bank Plc, Mr. Ebenezer Onyeagwu, supported by Executive Management, was witnessed by many of the bank’s staff and customers, with others joining virtually.

With the theme “Let There Be Light”, this year marks the 16th edition of the Light-up Ceremony at the Ajose Adeogun Roundabout. The Light-Up event is an annual Corporate Social Responsibility (CSR) initiative by the bank to herald the yuletide season through the beautification of Ajose Adeogun Street – home to Zenith Bank’s Corporate Headquarters – which has come to be recognised as an iconic place, attracting people from all walks of life who visit with their families and friends to take pictures and make videos of the wonderful spectacle, especially at night and enjoy the ambience of the street and season.

Speaking during the ceremony, Onyeagwu expressed his delight in heralding the yuletide season of 2022 through the iconic Ajose Adeogun Street lighting up. In his words, “today is a unique day. It is unique in the sense that we are going to turn on the Christmas light and activate the spirit of Christmas, which we usually have annually. It is also unique in the sense that we are honoured and delighted to have in our midst the wife of our Founder and Chairman, Mrs. Kay Ovia”.

He praised Quantum Markets, the company responsible for the annual decorations, for the outstanding, very creative and extremely beautiful work that they have done. According to him, “when you look at the Christmas set-up we have every year, it looks completely different, and there is no repetition of themes. And when we think we have seen it all, by the time a new one comes, it is something completely different and massively so. The one for this year, as I entered here, I was wondering if this is a theme park”.

Whilst urging everyone to imbibe the message and spirit of Christmas, which is about peace, love, forgiveness and above all, respect for humanity, Onyeagwu prayed for peace in every home, business and in the country and that this year’s celebration would be like no other that we have seen.

Zenith Bank has clearly distinguished itself in the Nigerian financial services industry as an institution committed to building a more sustainable and inclusive economy and promoting responsible business practices in Nigeria through integrating sustainability principles in its business operations.

The bank’s sustainability and CSR initiatives are hinged on the belief that today’s business performance is not all about the financial numbers – the bank believes that an institution’s social investments, contributions to inclusive economic growth and development as well as improvements in the condition of the physical environment, all constitute a balanced scorecard.

Through its CSR initiatives, Zenith Bank has embodied the overarching objective of the 17 Sustainable Development Goals (SDGs), which provide a framework for addressing the major challenges confronting society. Its social investments are targeted at health, education, women and youth empowerment, sports development and public infrastructure enhancement. Overall, Zenith Bank’s total CSR investment in 2021 was NGN4.37 billion, representing 1.79% of its Profit After Tax (PAT) and 33.1% increase from 2020.

The bank remains committed to furthering the economic, cultural and social development of host communities, particularly through community-based initiatives and philanthropy. As a good corporate citizen, it continues to deliver projects that have long-term social and economic benefits for the communities because it believes that its business is only as strong as the communities in which it operates.

To demonstrate its commitment to creating and expanding opportunities, the bank regularly makes donations towards setting up ultramodern ICT centres in several educational institutions and cities across the country. It also supports various developmental projects, and healthcare delivery causes in Nigeria and contributes to the development of sports in Nigeria through its sponsorship of the Zenith Women Basketball League and the Zenith Bank Delta State Principal’s and Headmaster’s Football Competitions, amongst others.

In recognition of its contributions and social investments to its host communities and the society at large, the bank was recognised at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021 as the “Most Responsible Organisation in Africa”.

FBNBANK UK STANDS TALL AT 40, APPRECIATES ITS CUSTOMERS AND REGULATORS

FBNBank UK, a subsidiary of FirstBank Group had London, the United Kingdom painted blue as it celebrated its 40th anniversary, themed Partnership Beyond Borders, on Friday, 11 November 2022.

The event which had customers, members of government functionaries and the diplomatic community, regulators, captains of industries in attendance, was convened to appreciate the patronage and support the Bank had received since it opened its doors in the United Kingdom 40 years ago. As key stakeholders, they were instrumental to establishing the Bank as an important gateway to connect international markets in Africa, Europe and the rest of the world to the finest financial services solutions that the UK has to offer.

Guests at the event include Hon. Justice Olukayode Ariwoola GCON, Chief Justice of Nigeria; Oba Sen. Dr. Moshood Olalekan Ishola Balogun, Alliiwo II, Olubadan of Ibadan land; Ambassador Sarafa Tunji Isola, High Commissioner, Nigerian High Commission, UK; His Highness, Muhammadu Sanusi II, former Governor, Central Bank of Nigeria.

Other dignitaries that graced the occasion include Alhaji Umaru Abdul Mutallab, Nigerian businessman and former Chairman of FirstBank; Mohammed Indimi OFR, Chairman, Oriental Energy Resources.

Delivering his welcome address to the dignitaries and guests present, Sam Aiyere, Chief Executive Officer, FBN Bank UK Ltd said “since its establishment, our Bank has demonstrated an unmatched dexterity, serving as a gateway connecting international markets in Africa, Europe and the rest of the world to the finest financial services solution that the UK has to offer. Through its office in the UK and the Paris Branch, our Bank has continued to facilitate international trade between Africa and Europe while offering top-notch, world-class corporate, institutional, and private banking solutions to our esteemed customers.

We have recorded laudable achievement only because you stand solidly with us. Therefore, I dedicate the success of the past 40 years to all our stakeholders. Thank you for being the lever beneath our thrust”, he also added.

Appreciating the patronage and support extended to FBNBank UK, Dr. Adesola Adeduntan, CEO, FirstBank said “today we celebrate 40 years of unbroken business operations in the United Kingdom; 40 years of supporting and enabling dreams; 40 years of resilience and relevance; 40 years of trust, safety and security; 40 years of long-term value to all stakeholders; and 40 years of partnerships beyond borders. I believe the future is bright for FBN Bank UK. With our beautiful outing tonight, our Group stands out, once again, as one big and happy family of many parts.

In his speech, Godwin Emefiele, Governor, Central Bank of Nigeria highlighted that “FBNBank UK’s established presence in a leading global financial centre such as London ensures that FirstBank Group is well positioned to play an active role in the promotion of Africa as an investment destination, attract much needed capital to the continent and facilitate trade with other parts of the world. The presence of FirstBank in other countries outside Nigeria shows that the span of its impact is continent-wide. As you are headquartered in the largest economy on the continent, you have a unique role in also facilitating capital flows into other African countries and assisting their economic growth and development.

In addition, in his goodwill message, President Muhammedu Buhari, GCFR, President and Commander-in-chief, Federal Republic of Nigeria said “FirstBank has profoundly demonstrated a high level of nationalism by keeping the Nigerian dream at the heart of its business through constant evolution to birth agile financial services solution to suit the demands of its customers both home and abroad. Also, perhaps more than any other institution in its class, FirstBank has supported the Government by providing human resources at various times to booster much required professional expertise in various sectors of our economy.”

Established in the United Kingdom in 1982 as the London Branch of the First Bank of Nigeria Limited., FBNBank UK was initially established to service the UK banking requirements of Nigerian companies and FirstBank.

Later in November 2002, the Bank was incorporated in the UK as a registered and a wholly-owned subsidiary of First Bank of Nigeria Limited with offices in the City of London and has then developed into a much broader business in the gateway to Europe and beyond for African banks, companies and high net worth individuals.

Polaris Bank rewards first set of winners in its ongoing ‘Save & Win’ promo

The first set of 62 winners have emerged in the ongoing Polaris Bank Save & Win promo.

The Bank in a statement said that the 62 lucky winners emerged across the six geo-political zones, winning N100,000 each during the draw which held on Friday at its headquarters in Lagos is in commemoration of Nigeria’s 62nd Independence Anniversary.

The winners emerged through a transparent draw witnessed by officials of the Federal Competition and Consumer Protection Commission (FCCPC), and the Advertising Regulatory Commission of Nigeria (ARCON).

The draw was conducted using a hybrid media technology which enabled in-premises event as well as over 400 customers through the Bank’s virtual network and social media handles.

Speaking at the unveiling of the winners, Polaris Bank’s Group Head, Strategic Brand Management, Mr. Nduneche Ezurike, said that the event was significant because it was a testament of the Bank’s unwavering commitment to impact and enrich the lives of Nigerians.

Ezurike noted that the reward is aimed at encouraging more people, existing and prospective customers alike to save and invest their money. “In tough times like this, there is a compelling need to save, not only to win a prize, but also to plan for the rainy day,” he added.

He emphasised that customers can still participate in, or increase their chances of winning by depositing a minimum of N5,000 in their Savings account. He also noted that non-customers of the Bank can participate for a chance to win in the draws by opening a Polaris Savings account with N2,000 and growing same to N5,000 before the next draw date.

Ms. Susie Onwuka of the FCCPC; Doris Itegbe and Bolajoko Odusoga of ARCON attested to the free, fair and transparent draw that threw up the winners.

The representatives of the regulatory bodies commended the Bank for making good its promise to winners of the independence draws.

Below are four (4) ways to participate in the ongoing Polaris Save & Win promo:

Download VULTe on iOS and the App store to open a Polaris Savings Account or dial USSD *833*0# on your phone or log into Polaris Bank savings portal at https://accounts.polarisbanklimited.com/opening/

Grow your account by N5,000 or more for 30 days or 3 months to qualify for monthly & quarterly draws respectively; by N50,000 for 3 months to qualify for special draws.

If your account is dormant, you can reactivate your account without visiting the Bank by simply logging into the portal: https://accounts.polarisbanklimited.com/reactivate/, accept the terms and conditions, and update the required details the Bank may need.

Follow the Bank’s handles @polarisbankltd across all social media platforms or visit the website at www.polarisbanklimited.com to stay updated.

Polaris Bank, adjudged Digital Bank of the Year 2021 and 2022, is a future-determining Bank committed to delivering industry-defining products for individuals and businesses.

Agusto Upgrades EDC Nigeria Money Market Fund Rating To A(F)

Pan- African credit rating agency, Agusto & Co has upgraded the rating of EDC Nigeria Money Market Fund (‘EDC MMF’ or ‘the Fund’) to A(f). Funds rated ‘A(f)’ are deemed to have low to moderate exposure to downside risk, impairment of net asset value in the medium term. EDC MMF unit trust scheme which was launched in February 2017 is being managed by EDC Fund Management Limited, a subsidiary of the Ecobank Group.

Agusto in its latest rating assessment report which covers the review period of August 2021 – August 2022 attributed the impressive performance to the Fund’s improved adherence to established guidelines, particularly in periods of significant asset growth as well as low exposure to credit and interest rate risks, adding that the rating also reflects the adequate internal credit assessments conducted on proposed counterparties and automated pre and post trade checks. The credible rating agency noted that “Overall, we considered EDC MMF’s exposure to credit and interest risk to be low. Its exposure to liquidity risk is also low to moderate the Fund’s investment. Risk management processes are adequate for the Fund’s operational level and it is growing net assets despite uncertainty in the macroeconomic environment .”

The high rating for EDC Nigeria Money Market Fund comes despite the nation’s weakening macroeconomic environment has the potential to heighten risk exposures and pressure investment performance, the report stated. It also identified challenges such as persistent depreciation of the nation’s Naira, and high inflationary trends would make holding investments in local currency unattractive and impact on the positive returns to unitholders.

Commenting, Mrs. Oluwayemisi Ogunmola, Managing Director of EDC Fund Management Limited, expressed excitement over the positive rating after holistic assessment of its operations by the globally recognized credit rating agency. She restated EDC’s commitment to ensure the Fund becomes the most preferred investment channel in the industry.

“This positive rating attest to the structures we have in place. Our remarkable performance in all the key rating indices shows that we are on the right path. We will continue to adhere to stipulated guidelines and regulatory requirements, settle redemption requests within 24-48 hours and make positive returns to unitholders despite the current harsh operating environment.” She stated.

EDC Fund Management Limited (‘EDC FML’ or ‘the Manager’) is the investment management subsidiary of Ecobank Development Corporation. The Manager was established in 2012 and licensed by the Securities & Exchange Commission (SEC) to carry out fund and portfolio management activities in Nigeria. EDC FML provides a broad range of advisory services including privatisation, mergers and acquisitions, structured trade financing, underwriting and syndication to sectors such as telecommunications, mining, transportation, power, oil and gas, construction and manufacturing

Polaris Bank’s VULTe Pulls Ahead, Wins Double as Nigeria’s Best Digital Bank

…wins MSME Bank of the Year Award too

Polaris Bank shone brightest over the weekend as its bespoke home-grown digital bank, VULTe capped its string of wins with two more prestigious awards as the Best Digital Bank at both BusinessDAY’s Banks And Other Financial Institutions (BAFI) Awards and The Nigerian Fintech Awards 2022 respectively.

VULTe, is a digital bank solution designed to enable customers consummate every banking transaction, from account opening, through requesting for certain categories of loans, to generating bank statements. It also connects the customer to discover lifestyle trends and social events. It is an all-in-one solution that is created to offer the most convenience for customers and built to understand the needs of the customer and provide solutions to everyday challenges of accessing financial service solutions.

In the last 12 months, VULTe which hitherto caters more to individual customers, now has enhanced capabilities to render seamless self-services to SMEs, High Net worth, and retail customers. The over 40million MSME operators in Nigeria could now access collateral-free loans for personal and business purposes; where eligible entrepreneurs and SME operators could apply and get up to N20million in a space of 5 minutes without visiting the Bank in person.

Symbolically, VULTe has made another significant history in the Nigerian banking and financial services sector by emerging the winner of the prestigious BAFI Awards back-to-back having won the same award last year. BusinessDAY is Nigeria and Africa’s leading and most respected business media group and organisers of numerous respected awards in the financial sector, as well as in other key sectors of the economy.

The Nigerian Fintech Awards on other hand is Nigeria’s biggest and most recognised Fintech award. The awards presentation ceremonies took place on Friday and Saturday in Lagos.

In the citation of Polaris Bank’s VULTe read by the organisers of The Fintech Awards 2022 shortly before the presentation of the award of Best Digital Bank, VULTe was preferred ahead of others in its competitive set on certain key parameters.

These include convenience, intuitiveness, trust and efficacious management system.

“For a digital bank that provides convenient account opening in minutes, intuitive loan application, scheduled payments, personal digital card management, trustworthy security, and personal finance management, VULTe by Polaris Bank is hereby declared the winner of the Best Digital Bank category,” the organisers announced.

Similarly, while presenting the Best Digital Bank award to the Bank, BAFI Awards organisers disclosed that the awards selection/review committee voted Polaris Bank’s VULTe the winner having outperformed its industry peers, like ALAT and OneBank across eight metrics for consideration.

The metrics include strength of strategy for attracting and gaining digital customers, accelerated user engagement, success in getting clients to use digital offerings, growth of digital customers, and platform security.

Other metrics are the breadth of product offerings for retail and corporate clients, evidence of tangible benefits gained from digital initiatives and web/mobile site design, intuitiveness and functionality.

At the same BAFI Awards Polaris Bank was declared ‘MSME Bank of the Year’ ahead of FCMB and Fidelity Bank in what the organisers described as the Bank’s expansive impact on MSME operators across Nigeria.

Polaris Bank in May this year launched a N1billion fund for MSMEs in partnership with Lagos State Employment Trust Fund (LSETF) in what the Bank explained was aimed at providing the much-needed funding to create wealth and empower entrepreneurs and players within the MSME space in Nigeria, starting with Lagos.

Prior to the launch of the N1billion MSME Fund, Polaris Bank had committed, and indeed, provided multibillion financing to MSME operators across sectors, health inclusive among other incentives, like moratorium on facilities granted to cushion the impact of the COVID-19 pandemic on businesses.

Polaris Bank is a digitally enabled Bank focused on providing superior financial solutions and products to its customers across sectors with industry-specific and individual needs.

FIRSTBANK SPONSORS FIFTH CHUKKER AFRICAN PATRONS CUP POLO TOURNAMENT

Kaduna is agog with excitement as preparation for this year’s FirstBank of Nigeria Limited sponsored Emir of Zazzau African Patrons Cup and Breast Cancer Awareness Campaign gathers momentum. The African Patrons cup is an annual polo tournament which features Low, Medium and High goal teams from all around the world. The 2022 grand edition will be holding between November 1st – 6th, at the highbrow Fifth Chukker Polo Resort in Kaduna.

The weeklong mini polo tournament will feature notable teams like Mohammed Babangida’s Kaduna El-Amin, Y.Y Kangimi, Abuja Rubicon, Lagos MRS, while star players like Sayyu Dantata; Patron of Lagos MRS, Hadi Sirika; Patron of Abuja Rubicon, Adamu Attah; Patron of Fifth Chukker Polo team, Dawule Baba of DEEBEE Farms Polo Team, Bello Buba; Nigeria highest ranked polo player, Suleiman Abubakar; Kashim Bukar Shettima; Babangida Hassan are the notable polo players expected in Kaduna competition.

The players and their teams will compete for glamorous Patrons Cup. Apart from the star tournament, there is also the Hassan Katsina Cup that would feature medium-goal teams drawn from major polo centres across the country.

In addition to the activities, the annual Breast Cancer Awareness campaign will create awareness and promote education on breast cancer. The event will provide essential screening services to many women who cannot afford it, as well as enlighten women on the early detection signs.

Commenting on the Bank’s contribution to sports development in Nigeria, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank said “we are proud to have been associated with the African Patrons Cup Polo Tournament for many years, an event that truly captures the spirit of Sport which plays a crucial role to the socio-economic development of the society. We commend Fifth Chukker Polo and Country Club for the Breast Cancer Awareness campaign as it underscores our commitment to the wellbeing of women, particularly with the indelible role they play to the growth of any nation”.

The First@Sport initiative remains part of the Bank’s influence in the development of sports in Nigeria. Added to the Bank’s sponsorship of the African Patrons Cup Polo Tournament which has been for 5 years, other tourneys sponsored by FirstBank include the Georgian Cup of Kaduna Polo Club, for over 100 years; the Dala Tennis Hard Court in Kano Club for over 30 years; the FirstBank Lagos Amateur Open Golf Championship in Ikoyi Club for over 60 years; and the Obasanjo Pro-Amateur tournament of Abeokuta Club now in its 6th year.