Banking/Finance Archives - Page 14 of 52

ZENITH BANK RETAINS POSITION AS NIGERIA’S BEST COMMERCIAL BANK, ALSO SCOOPS BEST CORPORATE GOVERNANCE BANK AWARD AT WORLD FINANCE 2022 AWARDS

R – L: Ebenezer Onyeagwu, Group Managing Director/Chief Executive of Zenith Bank Plc and Paul Richardson of World Finance during the presentation of the Best Commercial Bank, Nigeria and Best Corporate Governance Bank, Nigeria Awards to Zenith Bank at the London Stock Exchange

Zenith Bank Plc has emerged as the Best Commercial Bank, Nigeria in the World Finance Banking Awards 2022, retaining the award for a second consecutive year. The bank was also named as the Best Corporate Governance Bank, Nigeria in the World Finance Corporate Governance Awards 2022.

The awards, which were presented to the Group Managing Director/Chief Executive of Zenith Bank Plc, Mr. Ebenener Onyeagwu at the London Stock Exchange yesterday, were in recognition of the bank’s ability to embrace digital transformation and best-in-class sustainability and corporate governance practices, leading to a stellar business performance in a difficult economic climate.

Commenting on the double recognition, Onyeagwu said that: “These awards reflect our strong business fundamentals, resilience and ability to adapt to the ever-changing dynamics of the market through our innovative solutions, as well as our commitment to global best practices. As a member and signatory to various domestic and international sustainability frameworks including the United Nations Global Compact (UNGC) and the Central Bank of Nigeria Sustainable Banking Principles, we continue to support the achievement of the Sustainable Development Goals (SDGs) by creating value for our shareholders, customers, clients, investors, communities and the environment through our practices, operations and investments.”

He dedicated the awards to the Founder and Group Chairman, Jim Ovia, CON, for his pioneering role in building the structures and laying the foundation for an enduring and very successful institution; the Board for the outstanding leadership they provide; the staff for their commitment and dedication; and the bank’s customers for making Zenith Bank their preferred financial Institution.

World Finance is a leading international magazine providing comprehensive coverage and analysis of the financial industry, international business and the global economy. The editorial combines award-winning reportage, covering a broad range of topics from banking and insurance to wealth management and infrastructure investment, with contributions from some of the world’s most well-respected economists and theorists as well as consultants in government think tanks and the World Economic Forum.

Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, with these latest accolades coming on the heels of several recognitions including being voted as Best Bank in Nigeria, for three consecutive years from 2020 to 2022, in the Global Finance World’s Best Banks Awards; Best in Corporate Governance ‘Financial Services’ Africa, for three consecutive years from 2020 to 2022, by the Ethical Boardroom; Best Commercial Bank, Nigeria and Best Innovation In Retail Banking, Nigeria in the International Banker 2022 Banking Awards; and Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards 2020. Also, the Bank emerged as the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands 2020 and 2021, Number One Bank in Nigeria by Tier-1 Capital in the “2021 Top 1000 World Banks” Ranking by The Banker Magazine and the Retail Bank of the year at the BusinessDay Banks and Other Financial Institutions (BOFI) Awards 2020 and 2021.

Similarly, Zenith Bank was honoured as Bank of the Decade (People’s Choice) at the ThisDay Awards 2020 and emerged winner in four categories at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021, carting home the awards for “Best Company in Reporting and Transparency”, “Best Company in Infrastructure Development”, “Best Company in Gender Equality and Women Empowerment”, and the coveted “Most Responsible Organisation in Africa.

FIRSTBANK LAUNCHES SINGLE-DIGIT LOAN FOR WOMEN-OWNED BUSINESSES, REINFORCES ITS ROLE IN STRENGTHENING GENDER INCLUSION IN NIGERIA

- The FirstGem fund (FirstGem loan) is a single-digit loan scheme, exclusively designed to put women at an advantage in contributing to the socio-economic development of the country.
- The loan scheme covers female-owned or partnered SMEs in various sectors of the economy
- Launched in 2016, FirstGem has been impactful in driving financial inclusion, influencing women’s empowerment through gender-advancement programmes like savings culture, financial literacy, wealth management and building an investment portfolio.

In furtherance of its role in promoting female entrepreneurship across the country, Nigeria’s premier banking institution and leading financial inclusion services provider, FirstBank of Nigeria Limited, has announced the launch of the FirstGem fund (FirstGem loan); a single-digit loan scheme, exclusively designed to put women at an advantage in contributing to the socio-economic development of the country.

The FirstGem loan scheme is designed for female-owned or partnered SMEs in the following sectors Food/Beverage processing & Packaging, Beauty and cosmetics, Confectionery, Catering & Restaurants, Transportation (Logistics) and Agric/Agro-Allied (retail value chain). With an interest rate of 9% per annum, FirstGem loan is a collateral-free loan that is available to the bank’s existing and prospective female customers. Based on eligibility, customers can access loans from N500,000.00 to N3,000,000.00.

To access the loan, Female owned or partnered SMEs can visit the Bank’s website – https://www.firstbanknigeria.com/personal/loans/more-financing-options/firstgem-funds/ – to download and fill out the Retail Loan Application Form. The completely filled form should be submitted to the nearest FirstBank branch with accompanying documents.

Speaking on the loan Folake Ani-Mumuney, Group Head, First Bank of Nigeria Limited said, “we are delighted with the role our FirstGem product plays in creating an avenue to enlarge the business activities and endeavours of female entrepreneurs across the country. Our FirstGem value proposition offers real solutions to constraints encountered by female entrepreneurs and working professionals, as it exposes women to opportunities for the advancement of their business. We implore every female business-minded individual to take advantage of the FirstGem loan as it puts them at an advantage to contribute their quota to the national economy.”

Launched in 2016, FirstGem has been impactful in driving financial inclusion, influencing women’s empowerment through gender-advancement programmes like savings culture, financial literacy, wealth management and building an investment portfolio. FirstGem is designed specifically to meet the needs of the female gender, aged 18 years and above.

FirstGem is targeted at a broad spectrum of women, working professionals, entrepreneurs or market women through an array of benefits such as free business advisory services, access to finance, specialized training on business development initiatives (virtual and physical events), regular insights on business / investment opportunities and mouth-watering discounts at partner merchant outlets (spas, salons, grocery stores) offering lifestyle products and services.

Recently, FirstBank announced its partnership with CDC Group, the UK Government’s development finance organisation to economically empower women-owned and led businesses as well as local small and medium-sized enterprises (SMEs) in Nigeria. The facility, which is in the sum of US$100 million will have a minimum of 30% allocated in the form of credit lines to women entrepreneurs.

Fitch Upgrades Fidelity Bank’s issuer default rating from ‘B-’ to ‘B’

Fitch Ratings has upgraded Fidelity Bank Plc’s long-term issuer default rating (IDR) from ‘B-’ to ‘B’, reflecting the bank’s increased creditworthiness. The rating agency also upgraded Fidelity’s National Long-Term Rating to ‘A(nga)’ from ‘BBB+(nga)’.

According to the global rating agency, the upgrade is a result of the Bank’s improving business profile and resilient financial metrics. The agency added that the improved rating reflected the bank’s increased creditworthiness relative to other issuers in Nigeria, emphasizing that, “Fidelity’s Long- and Short-Term IDRs are driven by its standalone creditworthiness, as expressed by its Viability Rating (VR) of ‘b’ ’’.

The agency further stated that the VR reflects healthy asset quality, good business profile and reasonable capitalisation and liquidity. These are balanced against high sensitivity to Nigeria’s challenging operating environment as well as higher credit concentration as a percentage of equity and weaker profitability than larger domestic-rated peers.

Commenting on the upgraded rating, Nneka Onyeali-Ikpe, Managing Director/CEO, Fidelity Bank Plc, stated, “Receiving this upgrade at a time when the global economy is faced with a myriad of challenges, speaks to the strength of our business model, the efficacy of our risk management culture and the commitment of our staff towards creating sustainable value for all stakeholders. As a bank, we will continue to execute our growth strategy in a prudent manner that allows us to take advantage of emerging opportunities in our various markets”.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 6.5 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

Fidelity Partners ImpactHER to Empower 1,052 Female Entrepreneurs with Sales Skills

Fidelity Bank, a leading financial institution in Nigeria, has collaborated with ImpactHER to support 1,052 female entrepreneurs across the 36 states of Nigeria in addressing the challenges they face in their small and medium-sized businesses. Through diverse training on digital skills and direct business support, beneficiaries from two cohorts have been able to improve visibility for their businesses and consequently, increase sales.

The training, which commenced in January 2022, has had two cohorts that lasted for four weeks each, covering a myriad of topics such as Digital marketing, building your brand and selling online, etc. The participants were also assisted in putting their businesses on Google Maps, thus allowing customers and the global market to easily find and transact business with them.

Commenting on the partnership, Osita Ede, Divisional Head, Product Development at Fidelity Bank Plc said, “It has become imperative that female entrepreneurs in Africa are empowered to overcome the lack of digital literacy which impedes them from fully reaping the benefits of the digital transformation underway across Africa, and the world. We believe providing them this access will help them to thrive in their different businesses.”

According to Efe Ukala, Founder of ImpactHER, “Statistically, women and girls are 25 per cent less likely to leverage digital technology for basic purposes, 4 times less likely to know how to programme computers and 13 times less likely to file for technology patents. This therefore highlights the importance of equipping African women with digital skills that could be leveraged to scale their businesses. Let’s not forget that data shows that Africa can add 180 billion Dollars to its GDP by 2025 if we close the e-commerce digital gap.”

This intervention is critical as the Global Entrepreneurship Monitor for 2019/2020 highlighted that millions of women worldwide have started businesses over the last five years alone: the highest percentage of these women live in Africa, with approximately 26% of female adults engaged in entrepreneurial activity yet the World Bank confirms through data collected in ten African countries that on average, male-owned companies have six times more capital than female owned enterprises, resulting in monthly profits of female-owned enterprises that are, on average, 38% lower than male-owned businesses.

The bank boasts of a robust bouquet of products designed to help female-led small businesses run successfully including digital loans and HerFidelity -a proposition comprising exciting features such as capacity development initiatives, access to finance, recognition and networking events, health and wellness programmes, etc, all designed to speak to the yearnings of women.

Clementina Uzogor, the Programs Director at ImpactHER, highlighted the importance of helping women with skills like this to take their businesses to the next level. “At ImpactHER, it is our mission to ensure that we equip these women with tools for their businesses to thrive”, she explained.

She also appreciated Fidelity Bank for working with them to ensure the programme was successful and impactful. “It is important to let you know that this is not the end of this training. We will be deepening our partnership with Fidelity to train and support 5,000 more women-led small and medium sized businesses in the country before the year runs out”, she divulged.

An excited participant from the second cohort, Ms Akinyemi Oluronke, a fashion designer from Lagos underscored the benefits of joining the training for her business, “I’ve been able to build an online presence, people now know my business exists and I get a lot of calls from people who found my business online. I am very grateful for this platform and the overall increase in sales I now enjoy.”

According to Carine Nneka Achokwu, another participant from the January 2022 cohort and CEO of Carine Bakery, a company that produces pastries and cakes in Lagos, Nigeria, “I have been able to increase sales by 40% after using the tools that was provided to me such as “Google My Business” and people have been calling to order from me and I’ve also been able to reach more customers. I am thankful that I can get people to patronize my business just by tapping my phone based on the knowledge I acquired at this training.”

ImpactHER is an impact-driven nonprofit organization that empowers African female entrepreneurs by bridging the gender business financing gap so as to assist them in realizing their full economic potential. ImpactHER has since its inception trained, directly supported with investor-readiness and business scalability skills & tools to over 44, 275 women across 53 countries in Africa.

This partnership also provides follow-up training and support for the participants and is one of the ways ImpactHER and Fidelity Bank help these women scale up their offerings.

Sterling Bank, NHEA recognize Nigeria’s Healthcare Champions

L-R : Head, Health Sector Finance, Sterling Bank Plc, Adewale Adebowale; Project Director, Nigerian Healthcare Excellence Awards 2022, Dr. Wale Alabi and Group Head, Health Finance, Sterling Bank Plc, Ibironke Akinmade at the 8th Annual Nigerian Healthcare Excellence Awards in Lagos over the weekend.

Sterling Bank Plc, Nigeria’s leading commercial bank, has given special recognition awards to healthcare providers who played leading roles in the fight against the COVID-19 pandemic.

The awards were given to selected recipients at the 8th annual Nigeria Healthcare Excellence Awards (NHEA), which held in Lagos over the weekend under the theme of: Innovative Healthcare Services in the Era of Change.

NHEA is an initiative of Global Health Projects and Resources in collaboration with Anadach Group of the United States of America. It is a yearly event where individuals and organisations are recognized and celebrated for their exceptional contributions to the healthcare sector.

Special recognition awards were given to Medbury Medical Services as the Most Responsive COVID-19 Testing Company of the Year and Seven-UP Bottling Company Plc as the Most Outstanding COVID-19 Consumables Manufacturer of the Year. Other recipients were African Centre of Excellence for Genomics of Infectious Diseases (ACEGID), Redeemers University in Ede, Osun State as the Most Outstanding Genomic Laboratory of the Year and Nassarawa State as the Most Outstanding State for COVID-19 Vaccination.

Speaking on the awards, Group Head, Health Finance with Sterling Bank, Ibironke Akinmade said the bank recognized and honored the champions of COVID-19 pandemic because of the excellent services they rendered while the pandemic was raging in a bid to spur them to do more.

She said, “Sterling Bank is committed to improving access to healthcare for every Nigerian and our flagship offering – digitisation of State Health Insurance Platform – prefers 360-degree solution to help states bring healthcare to every citizen as well as provide wealth of data to inform policies, planning and strategy, at no initial investment.”

Also speaking, the Minister of Health, Professor Ehanire Osagie, commended the organizers of the awards which held post the different variants of the COVID-19 pandemic and the restoration of the economy to normalcy again.

The minister who was represented by Managing Director of the Federal Medical Centre, Yaba, Lagos, Dr. Adedamola Dada, remarked that the purpose of recognizing and rewarding healthcare professionals that contributed to efficient and quality healthcare services is to foster excellence and sustain the quality.“Good healthcare delivery is a key objective of this present administration,” Professor Osagie said.

Chairman of the Advisory Board of NHEA, Dr. Anthony Omolola said, “Over the years, NHEA has continued to strive to deliver new and creative ways to honor excellence across the healthcare space. This year’s is not different at all. At these awards, we are paying attention to those who pioneered innovative healthcare services in the era of change.”

Sterling Bank’s Divisional Head, Business Growth and Transaction Banking, Mr. Obinna Ukachukwu, had observed that the bank recognized the role that NHEA is playing in the health sector by rewarding excellence and promoting positive outcomes in the sector.

He noted that Sterling Bank, a leading player in the financing of the health sector, decided to come on board to further support excellence and growth of the sector.

NHEA Executive Secretary, Vivian Alkali, expressed the confidence that with Sterling Bank’s partnership and support, subsequent editions of NHEA will meet with greater success.

The NHEA initiative, through its eminent team’s research and innovation, has continued to encourage improvements and focus on the quality and standard of service provided by various stakeholders in the industry.

Fitch Reaffirms Ecobank Nigeria’s Stable Outlook

Fitch Ratings has affirmed Ecobank Nigeria Limited’s (ENG) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch also affirmed the Bank’s Viability Rating (VR) at ‘b-‘ and National Long-Term Rating at ‘BBB (nga)’. The rating agency released this rating last week, stating that the Bank’s IDRs are driven by its standalone creditworthiness, as expressed by its Viability Rating. Fitch had in January also rated Ecobank Nigeria Limited’s (ENG) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook.

According to the report, though “ENG has a moderate market share of Nigeria’s banking sector assets (3.9% at end of 2021), its franchise gets an edge and benefits from being a subsidiary of Ecobank Transnational Incorporated (ETI; B-/Stable), a large pan-African banking group with operations spanning 33 countries across Sub-Saharan Africa (SSA)”.

The report stated “rising global risks will weaken domestic operating conditions as any downside to operating conditions, “Inflation (17.7% in May 2022) is expected to remain stubbornly high, posing downside risks to real GDP growth forecasts of 3.1% and 3.3% in 2022 and 2023, respectively. However, downside risks are somewhat mitigated by strong oil prices, which should also underpin growth in non-oil sectors and banks’ asset quality”. It stated.

It reiterated that the Viability Rating of Ecobank Nigeria reflects its standalone creditworthiness despite the concentration of its operations within Nigeria’s challenging operating environment, high credit concentrations, asset-quality weaknesses, modest profitability, and weak capitalisation in the context of these risks. It also reflects a sizeable franchise and a healthy funding and liquidity profile.

“Ecobank Nigeria ENG has a Shareholder Support Rating (SSR) of ‘ccc+’. Fitch sees a high propensity in ETI to provide support given ENG’s importance to the parent’s pan-African strategy as its largest subsidiary (22% of group assets at end of 2021) and its presence in SSA’s largest economy. Fitch observed that rising global risks will weaken domestic operating conditions. Inflation (17.7% in May 2022) is expected to remain stubbornly high, posing downside risks to real GDP growth forecasts of 3.1% and 3.3% in 2022 and 2023, respectively. However, downside risks are somewhat mitigated by strong oil prices, which should also underpin growth in non-oil sectors and banks’ asset quality”. it stated.

Polaris Bank in N19 Million Criminal Deduction Mess

Innocent Chike, Polaris Bank Managing Director

A Magistrate Court sitting in Surulere area of Lagos has ordered Polaris Bank to refund the illegal deductions made on domiciliary and Naira accounts of three businesswomen with the bank to the tune of $30,769 (USD) N18,676,783.

The businesswomen – Mrs. Adebomi Orogun, Mrs. Kehinde Banjo, and Mrs. Oluwatoyin Ode had filed an originating application before the court against the bank over unjustifiable freezing of their accounts and subsequent illegal deductions on the said accounts.

In an application brought pursuant to Order 1 Rule 2 of the Magistrates’ Courts Civil Procedure Rules of Lagos State (2009), the businesswomen narrated how their USD (US Dollar), Euro, and Naira accounts were frozen by the bank without a valid court order.

They said the bank proceeded to make unauthorized deductions from their accounts without any justification whatsoever as there was no time they were accused of engaging in fraudulent activities with the said accounts.

In her affidavit in support of the application, the first applicant (Orogun) who maintained USD, Euro, and Naira accounts with Polaris Bank, said the bank usually deducts the requisite commission after every transaction she made.

According to her, “I regularly transact on my Euro account with the bank. I recently wanted to transfer money with my Euro account, only to discover that I no longer have access to make any transaction.

“I also discovered that there was no available balance left in my USD account. I was confused and had to make an inquiry with the bank to know the reason why I no longer have access to my Euro account and why my USD account was cleared out. However, I was informed by the Bank that they had not been deducting the proper commission per transaction on my account which they only commence later and ultimately led to my USD account being cleared out.

“This action carried out by the Bank was done entirely without recourse to me, who believed that all due commissions had been deducted and I had enough balance to plan my life with. On the 4th of March, 2022, I was shocked to discover that all my accounts (USD, EURO, and Naira) with the respondent (Polaris Bank) had been frozen and a post no debit order was placed on them.”

Orogun said she was neither informed nor given a satisfactory reason for the cruel act by the respondent, adding: “I did not engage in any fraudulent activity nor have I been officially accused of same by the bank. Hence, the freezing and placing of a post no debit on my accounts was totally unnecessary.”

She said the actions of the respondent greatly disrupted her business activities and also subjected her to financial cruelty with no hope as to when her accounts would be unfrozen.

“The actions of the respondent have also caused financial distress due to my inability to complete pending transactions,” she averred.

The other applicants also deposed to affidavits containing similar facts.

The bank failed to neither show up nor present any evidence to counter the claim of the applicants, while after reviewing the facts of the case, Magistrate Oluwatoyin Otitoju held that the action of the bank was illegal and void.

“An order of this Honourable Court is hereby made declaring the “post no debit” order placed on the 1st applicant USD, Euro, and Naira accounts and 2nd applicant’s USD and Naira accounts, and 3rd applicant’s USD and Naira accounts by the respondent (Polaris Bank) as illegal.

“An order of this Honourable Court is hereby made declaring the unauthorized deductions from the 1st applicant’s USD account, 2nd applicant’s USD account, and 3rd applicant’s USD account as illegal and void.

“An order of this Honourable Court is hereby made directing the respondent to revert the applicants’ accounts back to status quo as of 17th January 2022,” the court held.

Fidelity Bank Renovates Classroom Blocks, Commissions ATM Gallery In Zaria to Drive Financial Inclusion

L – R: Emir of Zazzau, His Royal Highness, Alhaji Ahmed Nuhu Bamalli; Executive Director, North Directorate, Fidelity Bank Plc, Hassan Imam; and Divisional Head, Brand and Communications, Fidelity Bank Plc, Meksley Nwagboh at the commissioning of classroom blocks renovated by the bank at Madrasatul Anwarul Islam, Kwarbai, Zaria, Kaduna State on Saturday, 18 June 2022. The bank also inaugurated a state-of-the-art Automatic Teller Machine (ATM) gallery at the Emir’s palace at the event.

Leading financial institution, Fidelity Bank Plc, recently commissioned the newly renovated Madrasatul Anwarul Islam school in Zaria, Kaduna State as part of its Corporate Social Responsibility (CSR) initiatives targeted across Nigeria.

Established over five decades ago by the emir’s father, late Maga in garin Zazzau, Alhaji Nuhu Bamalli, Madrasatul Anwarul Islam is the alma mater of the current Emir of Zazzau and has produced several notable personalities in the country.

The bank also inaugurated a state-of-the-art Automatic Teller Machine (ATM) gallery to drive financial inclusion within the community.

Speaking at the official project commissioning event which held on Saturday, 18 June 2022, Executive Director, North Directorate, Fidelity Bank Plc, Hassan Imam, said the bank’s decision to renovate the school was borne out of its commitment to make learning conducive for both students and teachers across the country.

According to Imam, “Our CSR footprint extends beyond education, healthcare and youth empowerment initiatives across the country as we are driven by the belief that we can only succeed as an organization when the people and community where we do business succeed. That is why we have taken it upon ourselves to help upgrade the facilities here at Madrasatul Anwarul Islam. Our hope is that the teachers and students in the school would put the facility to good use.”

“As part of our commitment to drive financial inclusion across the country and boost commerce in Zaria in particular, we have installed an ATM gallery at the emir’s palace. We hope this would make financial services easier and accessible to members of the Zaria community in line with our mission as a bank and thank the emir, His Royal Highness, Alhaji Ahmed Nuhu Bamalli, for his support in executing this project as well,” explained Imam.

Applauding the bank for its gesture towards promoting education and commerce in Zaria, HRM Ambassador Alhaji Ahmed Nuhu Bamalli encouraged members of the community to put the facilities to good use and protect them against vandalism. He also urged businesses and merchants to patronize the bank as a way of appreciating their efforts in developing the community.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 6.7 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

Ecobank Launches Super Rewards Season 3; 100 customers to get N50,000 Monthly

Ecobank Nigeria has launched Season 3 of its Super Rewards Campaign. The customer-focused initiative is designed by Ecobank to reward customers loyalty, with Season 3 set to reward 100 customers with cash prizes of N50,000 monthly, while 2 customers will go home with N1 million each at the end of the Season. The two-month campaign kicks off June 20 and will run through to August 21, 2022.

Announcing the commencement of the new season in Lagos, Korede Demola-Adeniyi, Head, Consumer Banking, Ecobank Nigeria said season 3 promises to be bigger with 100 customers benefiting N50,000 each. She stated that participation is open to both new and existing individual customers of the Bank, who qualify to be rewarded, while also enjoying a first-grade banking experience.

“Now is the perfect time to open an account with us or reactivate and fund your dormant account. The Super Reward campaign which was initiated by Ecobank in March 2021 is designed to promote a healthy savings culture amongst Nigerians and reward customers’ loyalty to the Ecobank brand. The success of season 1 and 2 campaigns followed by customers’ demand led to the introduction of Season 3. Both Seasons 1 and 2 have produced a total of 8 Millionaires and 1600 customers being rewarded N25,000 weekly in batches of fifty per week”. She stated.

Speaking on the dynamics of the campaign, Daberechi Effiong, Head, Consumer Products, Ecobank Nigeria, said the conditions to qualify for the campaign are simple and easy to ensure both new and existing customers participate and get rewarded. According to her, “New customers only need to open an account with a minimum of N5,000 while existing customers should make minimum deposits of N5,000. Customers with dormant account will also qualify when they reactivate and fund their account with a minimum of N5,000.

She further explained that qualifying customers will be rewarded monthly. “Rewards will be done monthly for the 2 months starting from July, 100 customers will be rewarded with N50,000 monthly. There will be two grand prize rewards of N1 million each at the end of the campaign.” She enjoined those that are yet to open an account with the bank to do so to enjoy the benefits of our bouquet of products and services.

Ecobank Nigeria Ltd. is a subsidiary of the Ecobank Group, the leading pan-African banking group with operations in 33 African countries and an international presence in four locations (London, Paris, Beijing, and Dubai). Ecobank is a major player in the distribution of financial services in Nigeria, leveraging digital platforms including Ecobank Mobile App and USSD *326#, Ecobank Online, Ecobank OmniPlus, Ecobank Omnilite, EcobankPay, Ecobank RapidTransfer, ATMs, POSs and an extensive distribution network of over 250 branches and over 50,000 agency banking locations.

Heritage Bank wins Lagos Environmental Sustainability Award, commits to nature protection

R-L: Kehinde Olugbemi, Ag. Chief Risk Officer, Heritage Bank; Captain Babangida Zakari, Deputy Director of Coordination, Armed Forces Settlement Centre, Oshodi; Prince Ademola Docemo, MD, Lagos State Signage and Advertising (LASSA); Gaji Omobolaji Tajudeen, Permanent Secretary, Lagos State Government Representative; Brigadier General Maxwell Ejike, Director of Training, Armed Forces Settlement Centre, Oshodi, as Heritage Bank wins Environmental Sustainability Award at the 2022 World Environment Day event held in Lagos State.

For its contribution and support towards Environmental Sustainability, especially, in Lagos, the state government, awarded Heritage Bank with its 2022 Environmental Sustainability Award.

The bank joined other corporate organisations and schools within the State, awarded for their efforts towards protecting nature and limiting the impact of climate change on Earth.

The Award was given to the bank by the state government through the Ministry of Environment and Water Resources, Lagos State in the commemoration of 2022 World Environment Day Celebrations in which the bank was also a major sponsor.

Speaking at the year 2022 World Environment Day finale held at Alausa, Ikeja, Lagos at the weekend, the managing director/CEO, Heritage Bank Plc, Ifie Sekibo, commended Lagos state government and its ministry for the efforts exuded during environmental sustainability to protect ecosystems in supporting health and wellbeing of all creatures.

Sekibo, who was represented by the Chief Risk Officer, Heritage Bank, Mr. Kehinde Olugbemi, said: “as this year’s World Environmental Day Celebration theme implies, we have ‘Only One Earth,’ and truly, only one earth to protect. The fact is that human well-being is closely linked to the health of the environment. And our planet is reaching a breaking point. We are beginning to see the consequences of global warming on ecosystems and communities.”

Today, he said, industrialisation, though positive for human well-being on the flip side, has raked lots of havoc on human existence.

Quoting the World Health Organisation (WHO), he said, 24% of deaths can be traced back to avoidable environmental factors, adding that, Heritage Bank Plc has continued to prioritise and make huge commitments to environmentally sustainable practices to help build thriving communities and secure future growth potential.

R-L: Ozena Utulu, Ag. Group Head, Corporate Communications, Heritage Bank; Kehinde Olugbemi, Ag. Chief Risk Officer, Heritage Bank; Dr. S. Olayiwole Onasanya, Permanent Secretary, Lagos State Independent Electoral Commission (LASEIC) and Titilola Docemo, Regional Head, Lagos Island 2A, as Heritage Bank wins Environmental Sustainability Award at the 2022 World Environment Day event held in Lagos State.

“We realized that our people and other dwellers need clean air to breathe, fresh water to drink, and places to live that are free of toxic substances and hazards.

“So, as a part of our sustainability drive in the Corporate social responsibility space, we have continued to put sustainability at the heart of our decision-making for the sake of humanity and the bank’s own bottom line because a healthy planet is the backbone of nearly every industry on Earth,” he pointed out.

Earlier at the event, Lagos state governor, Mr. Babajide Sanwo-Olu stated that, there is an urgent need for everyone to focus on the need to live sustainably with nature for the benefit of mankind, adding that, this has become necessary to shift to a greener lifestyle through both policies and individual choices.

He added that sustainability of the environment is among the most pressing issues in the world today out of which the Earth faces triple planetary emergencies namely, Climate change, loss of biodiversity and Environmental Pollution.

The governor, who was represented by the Permanent Secretary, Office of Environmental Services, Dr. Omolaji Gaji, added that, the impact of the challenges has negatively made the achievements of Sustainable Development Goals (SDGs) less successful.

“With nature in emergency mode, the #OnlyOneEarth campaign for World Environment Day 2022, wants us to celebrate the planet through collective environmental action”, he said.

The governor commended Corporate Organisations, such as Heritage Bank for ensuring that the persistent drive of the State’s policy towards entrusting the legacy of greening and restoration of indigenous trees to the citizen is sustained.

Similarly, the commissioner for the Environment and Water Resources, Mr. Tunji Bello said, government through the ministry of the Environment & Water Resources has implemented several programmes to mitigate these challenges through Tree planting, Climate change summit, Environmental bees’ clubs in schools, waste to wealth and ban on open defecation.

Speaking through the Director of Sanitation Services Department, Dr. Hassan Sanuth, the PS added that, the government keyed into this call in 2021 by commencing the greening of Abraham Adesanya setback, together with restoration of some historical plants in specific locations like Agege, Idi-Mangoro where Mango trees were planted, Idi-Agbon in Ifako-Ijaiye where coconut trees were planted and in Lagos Island where breadfruit trees were planted at St. Paul Anglican Primary School, Breadfruit Lagos as part of this year’s celebration.

The guest lecturer, Dr. Ayo Tella while delivering his paper, noted that, Anthropogenic effects caused by human activities such as the felling of trees have altered the earth’s natural systems and survival of many species.

Heritage Bank had earlier donated plastic bins to Navy Town Secondary School, Ojo, Lagos, to mark the World Earth Day even as it has embarked on a project to address water crisis, whilst contributing towards making clean and potable water accessible to all.

Similarly, a global open-source movement known as Liter of Light Nigeria partnered with Heritage Bank Plc to provide sustainable solar electricity for Itomaro community in Lagos State while the bank, in 2020, had been on the move to distribute over 10, 000 mosquito nets to rural dwellers.