Ecobank Nigeria, a member of the pan African banking Group has concluded plans to host its first Regional Trade Conference. The virtual forum with the theme “Facilitating Regional Trade in the emerging AFCFTA era” is slated for the 22nd of September. The conference, which will feature presentations and panel discussions by highly experienced subject matter experts and thought leaders in relevant industries, will provide an opportunity for exporters and importers within Africa to engage, creating a marketplace experience.
The Ecobank Nigeria ‘Africa Trade Conference 2020’ earlier slated for March was postponed due to the lockdown restrictions following the outbreak of the COVID-19 pandemic. Announcing the new date and movement of the conference to an online platform in line with current realities, Sunday Abah, Head, Trade Finance, Ecobank Nigeria stated that due to its unrivalled footprint across Africa, Ecobank is uniquely positioned to facilitate cross border trade within the region leveraging its comprehensive trade solutions and various payment methods available across its network within Africa. According to him, “Ecobank’s unique intra-Africa trade solutions enable settlements of international transactions and mitigation of payment risk while providing regional solutions such as issuance of payment guarantees to exporters without the need for a letter of credit and its related costs to the importer. Ecobank works closely with clients in structuring transactions, settlements, financing and risk mitigation” he noted.
Further, he said “Our trade products and solutions are designed around two broad areas; trade finance and trade services. Trade Finance enables our customers benefit from adequate and well mitigated credit facilitation in the area of Import finance, export finance, bill discounting, trade loans, distributor finance, payables and receivables finance, structured trade and commodity finance amongst others while our trade services, offer our customers the advantage of speedy turn around and error free processing of their import letter of credits, import collections, avalised bills, Customs bonds, export collections as well as their local purchase orders and payment invoices, via our electronic trade platforms OMNI e-Trade and OMNI eFSC (electronic financial supply chain).
The Ecobank Regional Trade Conference, which will be moderated by Mr. Tedd George, the Founder and Chief Narrative Officer of Kleos Advisory, UK is privileged to have as its Special Guest of Honour, Mr. Segun Awolowo, Executive Director/ Chief Executive, Nigeria Export Promotion Council. Notable speakers and facilitators across the globe are also expected at the event.
Managing Director, Ecobank Nigeria, Patrick Akinwuntan has pledged the bank’s support for small businesses operating in the country, stressing that the micro, small and medium enterprises (MSMEs) sub sector remains the most affected by the COVID-19 pandemic and needs support in the revamping of the nation’s economy. Akinwuntan who was speaking at the virtual launch of the first Pan-African MSME Academy in Lagos on Thursday, maintained that MSMEs are the drivers of post COVID-19 economic recovery for Nigeria, noting that the sub sector should take advantage of technology, financial services, and support from the government to drive the survival and growth of their businesses.
Further, Mr Akinwuntan said the MSME Academy is an initiative of the African Union Development Agency – AUDA-NEPAD in partnership with the Ecobank Group. The Academy provides easy access to practical training and resources on financing opportunities in various countries, how to build a digital presence for businesses and how to adapt business operations in the era of the COVID-19 pandemic. In his words, “ as an MSME friendly bank, we have been helping them with capacity building; providing simple and easy access to loans in various sectors including agriculture, creative industry, healthcare and commerce amongst others; access to markets via our e-commerce solutions and simple but robust digital platforms for collections and payments. We have also provided a channel to enable MSMEs open various accounts via self-service on our webpage. I encourage all MSMEs in the country to avail themselves of this opportunity to grow their business. ”
Also speaking Amine Idriss Adoum, Director, Programme Delivery & Coordination, AUDA-NEPAD explained that the MSME Academy aims to build the capacities of MSMEs across Africa through a combination of relevant content library, a network of institutions specialized in MSME support such as incubators and accelerators, and a community of peers, mentors, and advisors. He noted that the key objectives of the academy is to radically expand access to finance by aggregating smaller financial institutions such as micro-credit institutions and credit unions that have access to micro-enterprises, standardising their processes, and building trust in their capabilities. “The MSME Digital Platform is a one-stop-shop for all MSMEs across Africa to access all these three programmes which jointly address MSMEs’ challenges with access to capacity building, markets, and capital”. He explained.
In his presentation titled: “How MSMEs can access funding – opportunities from financial Institutions/banking sector”, Managing Director, Development Bank of Nigeria (DBN), Tony Okpanachi, said to be bankable, the MSMEs should have accurate financial statement, collaterals, good credit history, viable business model and sound corporate governance, listing the sources of funding to include equity, grants and credit. He emphasized that, “the AUDA- NEPAD and Ecobank partnership must be lauded as the entrepreneurial potential and critical role of MSMEs in economic growth and development in Nigeria is clear. We will continue to collaborate with other financial institutions to assist them with all necessary support to play their role to the economy.”
For the Director, Development Finance, Central Bank of Nigeria (CBN), Yusuf Philip Yila, he said the apex bank had put in place several funding support initiatives to enable the sub-sector survive the COVID-19 pandemic and beyond. According to him, “For this important sub sector to survive the current COVID-19 pandemic and beyond, CBN and the bankers committee have put in place various stimulus packages to support MSMEs in the country. He noted that the CBN’s N50 billion Target Credit Facility (TCF) has been increased to N100 billion with the interest rate slashed to 5% from 9% to keep them in business”. He encouraged MSMEs in the country to take advantage of the CBN’s various funding windows to meet the demands of their businesses as government is striving to revamp the economy as soon as possible through their efforts.
The first Panafrican MSME Academy is open to Medium, Small and Micro Enterprises in Nigeria and across Africa . The programme provides support to African MSMEs and is structured in three pillars, namely: the MSME Academy, MSME Marketplace, and MSME Financing Support Programme to be delivered through an MSME Digital Platform. The Academy provides easy access to practical training and resources on financing opportunities in various countries in Africa, how to build a digital presence for businesses and how to adapt business operations in the era of the COVID-19 pandemic. It also offers free access to market intelligence, mentors with a diverse experience and assisting with access to funding opportunities.
Polaris Bank has launched an account called ‘Polaris Target Savings Account’ to boost healthy savings culture and build a strong financial base.
The Group Head, Products and Market Development, Mrs Adebimpe Ihekuna, said this in a statement entitled ‘Polaris Bank introduces target savings account’ on Saturday.
Ihekuna said, “The savings culture is gradually going into extinction as people generally spend than save; hence, the launch of the target savings account to help Nigerians save for a better tomorrow.
“We recognise that there is never going to be enough money to save; that is what one must first accept but the need to develop the habit of savings is as important as life in itself.
“A salary increase for most people will not necessarily get them to save more, your children finishing school will not get you to save more, a bigger client for your business will not get you to save more, and getting older will not enable you to save more.”
Ihekuna added, “Paying off your mortgage and other debts will not get you to save more; all these are excuses not to start saving today. If you are not saving with what you have today, chances are you might not save when you have more money.”
She said it was not too late to start saving, adding that Nigerians willing to take up the challenge and begin to save for specific goals for the future could do so with ease, through the Polaris Target Savings account.
Mrs. Ibukun Awosika, Chairman, First Bank of Nigeria Limited has made her debut in a movie produced by award-winning, and proudly Nigerian movie producer, Kunle Afolayan. The movie, Citation, is created to correct one of the greatest ills – rape and sexual molestation – which affects the educational system and indeed societies around the world.
Mrs. Awosika plays the role of the dean of a university faculty, overseeing the senate hearing panel of a female postgraduate student (Moremi), played by Temi Otedola, who has been a victim of sexual harassment. The movie was shot to lend a voice to support victims of sexual harassment and rape, beyond the university environment. Ibukun Awosika was chosen due to her leading impact on women advocacy and leadership.
Unveiling Ibukun Awosika, the surprise cast of the movie, Kunle Afolayan posted on his official Instagram handle; “It all began in 2018 with the pre-production of Citation, then the production in January 2020, and now the 30th of August, we officially had the first private screening of Citation at Obafemi Awolowo University (OAU).
“Why OAU? Well, not only was Citation shot at the University, but our surprise cast is an alumna of the school.”
Expressing her delight on the movie, Mrs. Ibukun Awosika, Chairman, FirstBank said; “the physical and psychological effects of sexual harassment have a considerable toll on individuals and institutions in terms of cost. The effects of can hamper growth and the potentials and can stop the victims from engaging fully in life. We must, therefore, (as stakeholders, governments, institutions of learning; parents; media etc.), collectively rise against this menace and never let the deplorable behaviour of sexual harassment to fester.”
“I remain upbeat about this project – being part of a collective goal to continually keep dreams and hope alive; sacrificing and holding strong to our commitment to reignite the lost values. The casting experience has been very enriching and impactful to me. I am delighted to be amongst the very amazing casts in such an intriguing and brilliantly scripted movie.
Obafemi Awolowo University played host to the movie which was written by Tunde Babalola. Other stars in the movie include; Joke Silver, Jimmy Jean Louis, Sadiq Daba, Gabriel Afolayan and Temi Otedola, amongst others.
As part of its further response to deal with the global economic challenge occasioned by COVID-19, Heritage Bank Plc has reiterated commitment to deepen its support to young entrepreneurs in Nigeria to grow their businesses either as start-ups or prospective business owners. This, the bank said, is in line with its culture as timeless wealth partners, which would impact positively on the nation’s socio-economic development.
The MD/CEO of the bank, Ifie Sekibo stated that Heritage Bank was mindful of the devastating impact of the pandemic to the nation’s economic system, hence as an institution at the forefront of investing in human capital development for critical economy recovery, “we will up our game to empower Nigerian youths who are one of the bedrock of any vibrant economy,” he added.
He disclosed that one of the channels churned out in partnering the youths to leverage their talents and contribute their quota to the growth of the economy, was the use of financial inclusion strategy which would be adopted to boost entrepreneurship development, as this is critical to Heritage Bank’s mission to create, preserve and transfer wealth across generations.
He further explained that Heritage Bank’s various entrepreneur schemes in the support for business had always focused on dependable job-creating sectors, such as agricultural value chain (fish farming, poultry, snail farming), cottage industry, mining and solid minerals, creative industry (tourism, arts and crafts), and Information and Communications Technology (ICT).
Sekibo restated that the aim of Heritage Bank being at the forefront of youth empowerment is to emancipate the latent entrepreneurial spirit in the teeming youths to unleash their support to the growth of the economy.
His words: “At Heritage, nothing else is more fulfilling than to groom-to-empower young aspiring start-up entrepreneurs, as we mentor them to grow and become large corporates enlisted on the Nigerian Stock Exchange.
“In recent times, we have worked with private and public sectors- The Next Titans, HB Lab, Creative Nigerian Summit, National Festival of Arts and Culture (NAFEST), NYSC and the Central Bank of Nigeria to support youths and young entrepreneurs to grow their businesses as a start-up or prospective business owners.
He also reiterated that the bank had continued to make efforts to lead the recovery of the Nigerian economy through championing several empowerment schemes such as the Prime Women Builders Foundation of Nigeria, Youth Innovative Entrepreneurship Development Programme (YIEDP), Centre for Values in Leadership (CVL) on Young Entrepreneurship Business Training Programme (YEBTP), Young Entrepreneurs and Students (YES) Grant and Nigerian Young Professional Forum (NYPF), amongst others.
UBA Foundation, the corporate social responsibility arm of the United Bank for Africa (UBA) Plc, has today commenced the 2020 edition of its annual National Essay Competition in Nigeria with a call for entries.
Now in its tenth year, the National Essay Competition (NEC) is part of UBA Foundation’s education initiative which is aimed at promoting the reading culture and encouraging healthy and intellectual competition amongst secondary school students in Nigeria and across Africa.
This year’s edition, which is the 10th since inception, has been modified to ensure ease of access and increased participation of senior secondary school students from the comfort of their homes through the introduction of a digital submission portal.
Taking into consideration the effects the Covid-19 pandemic has had on lives and incomes across board, the UBA Foundation has also increased the prize money for the 2020 edition of the NEC by 33 per cent as the first prize winner will get an educational grant of N2.5m, up from N2m in 2019. The second and third prize winners will now receive N2m and N1.5m educational grants respectively, from N1.5m and N1m which were awarded in the previous year’s competition.
The Chief Executive Officer, UBA Foundation, Mrs. Bola Atta stated that with the newly introduced digital submission portal, more students in secondary schools across the country will have the opportunity to scan and send in their entries and compete to win educational grants for study at any university of their choice on the African continent.
She said, “As a Foundation, which is the CSR arm of the United Bank for Africa – a fully digitalised bank, we are driven by the mantra to always innovate and adapt to our constantly changing environment. This year, we thought hard about how to ease the pains that everyone is feeling. Students have not been able to go to school and there has been a lot of anxiety in families trying to ensure that educational gaps do not emerge. It is imperative for us at the UBA Foundation that our impact programmes do not wane. We also need to design them to be as inclusive as possible so that those students who don’t have easy access to computers can still participate in the competition with a chance to win grants towards their tertiary edification.’
Atta explained that the choice of topic for this year’s edition is one that helps promote creative and analytical thinking in students whilst helping them become problem solvers. The essay topic selected is “Do you think that the lock – down during the Covid-19 pandemic was an essential measure in spite of the hardship it has brought economically? What would you have done differently and why?”
All entrants are to hand write their essays and upload scanned copies of their handwritten entries as well as ID on the digital portal atwww.ubagroup.com/national-essay-competitionbefore October 2,2020. They may also drop off the handwritten essays at their nearest UBA business office for onward submission to the UBA Foundation.
The judges who are made up of esteemed professors from reputable Nigerian Universitieswill receive all the essays on a digital drive, evaluate them and select the top 12 finalists all of who will take home consolation prizes including personal computers.
The finale of the NEC this year will be conducted virtually as the initiative rolls out across 19 more countries in Africa.
UBA Foundation embodies the UBA Group’s CSR objectives and seeks to impact positively on societies through several laudable projects and initiatives. The Foundation has donated hundreds of thousands of books to students across Africa under the ‘Read Africa’ initiative aimed at encouraging and promoting the reading culture in African youths.
The Group Managing Director/Chief Executive of Zenith Bank, Mr. Ebenezer Onyeagwu has called for a concerted effort towards diversifying the country’s export base through the promotion of non-oil exports. He made the call during a Webinar themed “Prospects of Non-Oil Export During and Post COVID-19” organized by the bank on Wednesday, August 26, 2020.
According to him, the onset of the COVID-19 pandemic which has impacted the demand for oil and, by extension, the price of crude oil in the international commodities market has further exposed Nigeria’s over-dependency on crude oil earnings and its susceptibility to oil-related shocks. He added that the events of the last couple of months have also highlighted the limited range of the country’s value-added products exported to foreign markets.
He noted further that boosting non-oil export is imperative in view of the opportunities that exist in the broader contexts of ECOWAS Trade Liberalisation Scheme and the African Continental Free Trade Area (AfCFTA) which seeks to create a continent-wide market of 1.2 billion people with combined Gross Domestic Product (GDP) of $2.5 trillion and about $4 trillion in consumer and business spending.
Whilst commending the efforts of the government and the Central Bank of Nigeria (CBN) to deepen the non-oil export business in the country, Onyeagwu urged players in the non-oil export value-chain including exporters and financial institutions to play their part in the drive towards expanding the nation’s non-oil export base.
Delivering the keynote address, the Director of Trade & Exchange, Central Bank of Nigeria (CBN), Dr. (Mrs) Ozoemena Nnaji, who commended Zenith Bank for organizing the webinar at a time like this, observed that the impact of the COVID-19 pandemic is a wake-up call for the country, as it has once again exposed the over-dependence of the Nigerian economy on one product. She therefore called for a deeper policy look at the non-oil sector to find ways of genuinely improving the quality and quantity of our non-oil export goods.
Also speaking at the Webinar, the Chief Executive/Executive Director of the Nigerian Export Promotion Council (NEPC), Mr. Olusegun Awolowo commended the efforts of Zenith bank in promoting non-oil export business in Nigeria, describing the bank as ‘the Export Trade Bank of Nigeria’. Speaking on the topic “Repositioning Non-oil export as a Leading Revenue Earner: Government Plans and Programmes”, Awolowo noted that the crash in oil prices following the COVID-19 pandemic and OPEC’s price war with Russia reinforced what everyone already knows – the mono-product economy of the country is not sustainable, calling for a buy-in into the Zero oil policy of NEPC.
Zenith Bank remains committed to the promotion of the non-oil export sector in Nigeria by identifying emerging opportunities which help in stimulating non-oil exports and developing robust financial products and incentives for operators in the sector. The bank l
The Chartered Institute of Bankers of Nigeria (CIBN) yesterday official presented Certificates of Accreditation to Heritage Bank Plc Academy known as “The Refinery” and the Central Bank of Nigeria (CBN) Learning Centre.
The Institute via a Zoom virtual platform also accredited more 25 Educational Training Service Providers (ETSP), which is in accordance with its role as the Accreditation Agency for the implementation of the Competency Framework released, as part of the strategy to redirect the banking industry towards the path of entrenching a sequenced competency development programme and build capacity for the stability of the financial system.
The Institutions include Crown Agent UK; B. Adedipe Associates Limited; Chartered Institute for Securities and Investments (CISI), United Kingdom; The Nigerian Stock Exchange X Academy; Mactay Consulting Limited; Knowledge Beyond Limited; Brideswell Consulting Limited; Ultravantage Solutions ; EdgeEcution Global Resources Limited and Katalyst Consulting.
Others are: Michael Stevens Consulting; NLP Nigeria Limited; Procept Associates Professional Services Limited; Don Mitchell & Co Limited; Bode Zakari Management Consultants; Success for ALL Limited; Edcof Educational Services Limited and Kloverharris Limited.
The Refinery supervised by the Bank’s Human Capital Management Group was accredited by CIBN after assessing and evaluating its syllabus, curriculum and structure by panel of technocrats and seasoned bankers set up by the Institute, which according to the chartered institute aligns with the Competency Framework of the Central Bank of Nigeria (CBN) and the professional paper standard of CIBN.
Speaking during the presentation, the CIBN President, Bayo Olugbemi said the event marks yet another significant milestone in the annals of the Institute and our continuing quest for the strengthening of the intellectual resources and capabilities of the human capital in the banking and finance industry. He stressed that apart from efforts towards addressing competency challenges, thereby enthroning a minimum standard for practitioners in the banking industry.
He applauded Heritage Bank for setting a high standard of learning facility which its structure and curriculum “is next to that of CBN’s training institute,” whilst stressing that the bank’s training school is the best in Nigerian banking industry and at par with international best standard.
He equally informed the gathering that the Certificates of Accreditation presented to Two (2) Bank Academies and Twenty-Six (26) ETSPs bringing the total number of institutions under the Programme to Nineteen (19) Bank Academies; Seventy-Five (75) Educational Training Service Providers; Sixty-Nine (69) Solicited Accreditation; Six (6) Unsolicited Accreditation.
Ifie Sekibo, the MD/CEO of the bank, has described Heritage Bank as a forward looking business whose strength lies in the ability to spot and mould talents into great professionals.
Sekibo, represented by the Executive Director, Jude Monye explained that the word “The Refinery” was chosen for the purpose of refining its employees to emerge as gold and harness the required skills to excel in their job functions.
He noted that the Refinery was established to train, nurture and arm young employees with the right skills needed to fast-track development and enable teams to flourish.
“Just as the word Refinery connotes, the Heritage Bank Plc Refinery is a Facility where crude talents or abilities are converted or ‘refined’ into ‘finished’ jewels for optimal performance.
“The training program is designed to take each participant on an enriching, rigorous and intellectually engaging learning journey to equip them with the fundamental competencies required of a professional banker. The Curriculums are structured to accommodate both Core and Non-Core Banking competencies such as finance, credit and accounting, organizational and behavioral competencies to mention a few”, Sekibo stated.
Meanwhile, about 300 employees who are fresh from universities across and outside the country with diverse academic backgrounds and impressive academic records underwent rigorous training in an intensive 12-week academic (practical and theoretical) programme with over 30 courses in Port Harcourt.
The Refinery is a tailored learning experience Institute with the perfect blend of technologies, techniques and methodologies to optimise training experiences, which will help employees, succeed in ensuring that the bank’s business stays ahead of the curve with the banking sector along with Heritage Bank’s target goals.
First Bank of Nigeria Limited today, announced its lead sponsorship of the TV reality musical talent show, The Voice Nigeria, Season 3.
The talent show which is organised by UN1TY Nigeria is created to discover, nurture and bring to the fore musical talents amongst the next generation of Nigerian youth.
The Voice Nigeria will be produced for the first time in Nigeria and will be aired on DSTV channel (Africa Magic) Startimes and terrestrial TV channel (AIT), amongst other leading television stations in the outside the country. Nigerians can expect to see the very best talents on stage in the course of the competition.
The musical talent hunt show would start with blind auditions to be submitted upon being shortlisted after a successful registration, then battle auditions which then move out of the rooms and straight into the arenas, with hopefuls having to perform in front of an arena audience from the start in the hope of making it through to the next stage.
The Voice Nigeria will be hosted by Nancy Isime, Toke Makinwa and the coaches are Dare Art Alade, Folarin Falana (aka Falz), Yemi Alade and Aituaje Iruobe (aka Waje).
Interested participants are to register via the link www.thevoicenigeria.com with their FirstBank account number as a requirement. Should one not have an account with the Bank, then dial the Bank’s USSD code, *894*0# to be a FirstBank account holder. The audition is open to individuals within the age of 18 -50 years who are have been residing in Nigeria for 12 consecutive months. The registration for audition is open from 25 August – 19 September 2020.
There are numerous awesome prizes up for grabs. The winner of the show will be go home with whooping ten million naira cash; a brand new car and an exciting one-year recording contract reward with Universal Music.
Speaking on the talent hunt show, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank, said “we are delighted to be the lead sponsor of The Voice Nigeria, this partnership is hinged on our Brand’s passion to empower and invest in our youths. FirstBank has given voice to the young and indeed all Nigerians for the past 126 years, and will continue to give voice to Nigerians by creating employment, economic empowerment in the country through our products, services and initiatives. We remain committed to strengthening the creative industry which is fast growing into a multibillion-dollar business, with potential to be a leading contributor to Nigeria’s GDP in the near future.”
We commend UN1TY Nigeria for The Voice Nigeria as our sponsorship is in recognition of the vast talents Nigeria is blessed with which we are delighted to promote, thereby having a positive impact the Nigerian entertainment industry. We enjoin everyone to follow our social media channels for more details on the programme, whilst also staying locked on their TV screen. More details would be provided in the course of the weeks through our social media channels.
“The show promises to be engaging, full of surprises and with fun-filled excitement to our viewers” he concluded.
According to research disclosed in PWC’s recent Entertainment & Media Outlook report, Nigeria’s entertainment is expected to rise from $4.46 billion in 2018 to a $10.5 billion market by the end of 2023. In addition, with this initiative and other sponsored event targeted at the youth, the premier Bank in Nigeria, FirstBank, is committed to strengthening its contribution to the development of the entertainment industry in the country.
September 11, 2020 will mark an auspicious day for Dr. Adesola Adeduntan, as he will be honored alongside prominent African business leaders such as: CEO of Ocean Marine Security Ltd, Idahosa Wells Okunbo; and founder and executive chairman of Online Integrated Solutions Ltd, Mahmood Ahmadu, for the Forbes Best of Africa awards.
Dr. Adesola Kazeem Adeduntan is the managing director/chief executive officer of First Bank of Nigeria Limited, a visionary leader and an achiever to be reckoned with in the financial services sector, who earlier in the year bagged the much-coveted and celebrated Cranfield University School of Management Distinguished Alumnus of the year Award.
A veteran in the banking world and a veterinary doctor by training, Adeduntan believes strongly in the importance of doing well by doing good. In March 2020, he spoke at the Edinburgh School of Business about financial institutions’ role as drivers of financial inclusion. In his leadership role at First Bank of Nigeria Limited (FirstBank), Adeduntan is part of a 126-year legacy of sustained development-oriented services.
Also, in a recent media intelligence report presented by P+ Measurement Services, Adesola Adeduntan topped the list of most prominent and reputable Nigerian banking CEOs in Q2 2020.
The virtual event which will be held in conjunction with Foreign Investment Network (FIN) will be an online roundtable discussion to be supported by the World Philanthropy Network will feature former Nigerian President, Olusegun Obasanjo, presenting a keynote address.
