First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider, has graduated 28 successful candidates in its inaugural FirstBank Management Associates Programme (FMAP), virtually held on Tuesday, 30 June 2020 via the Zoom video conferencing application. The programme which commenced in 2018 had a total of 48 candidates selected from thousands of entries and applications received nationwide.
FMAP is a 24-month fast-track comprehensive developmental programme targeted at young, dynamic, self-motivated and highly driven individuals that possess the right skill set and excellent leadership potential among Junior and entry-level cadre staff. Entries and applications for the programme enrolment was also extended to the public
Speaking about the programme, Dr. Adesola Adeduntan, CEO, FirstBank said “It is an intensive skill development programme structured to enhance acute thinking, financial, methodical skills of staff. The bank would continue to reinvest in its human capital to create a kind of leadership needed for future growth and development
“This is part of the Bank’s strategic objectives of infusing and developing leadership at requisite levels across its staff hierarchy, aimed at building the next generation of leaders who will be groomed to drive the Bank’s vision of being Africa’s Bank of first choice”, he concluded.
At the end of the programme, successful candidates are moved to middle management, becoming Management Associates irrespective of their grades at the point of entry.
Cross country postings and secondment opportunities is also offered to such staff to provide them with global exposure and network.
Zenith Bank Plc has again emerged as the Number One Bank in Nigeria by Tier-1 Capital in the 2020 Top 1000 World Banks Ranking published by The Banker Magazine. Climbing a whopping 29 spots from 415 in 2019 to 386 in the 2020 global ranking of banks, Zenith Bank retained its position as the number one Tier-1 bank in Nigeria with Tier-1 Capital of $2.79 billion, an increase of 16.1% on the $2.40 billion recorded in the 2019 rankings.
The ranking which was published in the July 2020 edition of The Banker Magazine of the Financial Times Group, United Kingdom, was based on the 2019 year-end Tier-1 capital of banks globally. According to the Ranking Report, Zenith Bank extended its lead over the second-placed bank in Nigeria. Zenith’s financial performance for the year was underpinned by a 29% increase in non-interest income, with an improved market share in both retail and corporate sectors.
Speaking on the latest rankings, the Group Managing Director/Chief Executive, Mr. Ebenezer Onyeagwu said: “this ranking, which further attests to our market leadership, is the outcome of a well-thought-out strategy of always delighting and creating value for our teeming customers through a broad range of superior product offerings, best-in-class service and top-of-the-range technology”.
Tier 1 capital describes the capital adequacy of a bank, and it is the core measure of a bank’s financial strength from a regulator’s point of view. According to the ranking, Tier 1 Capital, as defined by the latest BIS guidelines, includes loss-absorbing capital, i.e. common stock, disclosed reserves, retained earnings and minority interests in the equity of subsidiaries that are less than wholly owned.
Zenith Bank has clearly distinguished itself in the Nigerian financial services industry through superior service quality, unique customer experience and sound financial indices. The bank, with a knack for setting the pace and raising benchmarks, is a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.
As a testament to its resilience and market leadership, Zenith Bank announced an impressive result for the year ended December 31, 2019, with profit after tax (PAT) of N208.8 billion, achieving the feat as the first Nigerian Bank to cross the N200 billion mark. In the recently released Q1 2020 unaudited financial results, the bank also recorded an improved result over the corresponding period in 2019, with gross earnings rising by 6% to N166.8 billion and profit before tax (PBT) growing 3% to N58.8 billion.
Consistent with this excellent performance and in recognition of its track record of exceptional performance, Zenith Bank was ranked as the Best Commercial Bank in Nigeria 2019 by the World Finance and the Best Digital Bank in Nigeria 2019 by Agusto & Co. The bank was also voted as Bank of the Year and Best Bank in Retail Banking at the 2019 BusinessDay Banks and other Financial Institutions (BAFI) Awards. Most recently, the bank was recognized as the Most Valuable Banking Brand in Nigeria, for the third consecutive year, in the Banker Magazine “Top 500 Banking Brands 2020”, Best Bank in Nigeria in the Global Finance “World’s Best Banks Awards 2020” and the Bank of the Decade (People’s Choice) at the ThisDay Awards 2020.
The zero charge for mobile money transfers by Ecobank commenced in March as part of the bank’s corporate action to cushion the rising spread of Coronavirus.
Ecobank has extended its zero-charge fee for digital money transfers below N5,000 till the end of September this year. In addition to the free USSD session fee currently enjoyed by Ecobank customers, users of Ecobank Mobile, Ecobank Online, USSD – Ecobank *326# can continue to enjoy zero fee charge for digital money transfers below N5,000. New customers can also benefit from this by opening an Xpress account from the comfort of their homes by simply dialling *326#.
The zero charge for mobile money transfers by Ecobank commenced in March as part of the bank’s corporate action to cushion the rising spread of Coronavirus. The decision to extend the zero-charge policy is hinged on the bank’s drive to continuously encourage citizens to adopt digital banking particularly with the ongoing social distancing campaign targeted to check the spread of COVID-19.According to Olukorede Demola-Adeniyi, Head, Consumer Banking, Ecobank Nigeria, “As a bank, our priority is people’s wellbeing. We place great emphasis on rewarding and identifying with our customers and citizens of Nigeria especially at a time like this. We are determined to ensure that the impact of the pandemic is minimal on citizens. We encourage our customers to utilize our digital self-service solutions including Ecobank mobile app, Ecobank Online, EcobankPay, Ecobank Omniplus, Omnilite and the rapid transfer app; where they can easily access their bank accounts, make payments, transfer funds, process salaries and carry out ancillary banking transactions from the comfort of their home and offices without having to visit the branches”.
She further stated that, “At Ecobank, we are always finding ways to improve our customer experience digitally, which is why I encourage our customers to upgrade to the new Ecobank mobile app 4.0. Customers can carry out banking transactions and enjoy some of the new features that the app provides, such as the ability to send money via email or SMS and of course, take advantage of the zero charge on money transfers below N5,000”.She added that the bank was also supporting over 50,000 farmers across the country to grow maize, under the CBN Anchor Borrowers program with the Maize Growers, Processors and Marketers Association of Nigeria (MAGPAMAN)
First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced that its all-female online community www.firstgem.com.ng , offers mentoring, support and capacity building opportunities for all to create a new generation of financially literate women.
With the aim to increase its engagement and reach a wider audience, an online repository for its FirstGem product was created and designed to provide a virtual online community where like-minded women irrespective of where they are in Nigeria and abroad, gather to connect, grow and share knowledge on everything about lifestyle, parenting, career development, entrepreneurship, health, work and family. Financial empowerment and wealth creation ideas are shared to encourage women to play their part in providing financial support for their families.
The portal provides varied contents ranging from Blog stories to Vlogs, Newsletters, Chat rooms which are built on 6 pillars – Health, Wealth and Finance, Food and Recipes, Events, Entrepreneurship, Lifestyle and Beauty. The FirstGem online community presently has over 61,634 members drawn from all walks of life sharing ideas, insights and experiences.
According to Chuma Ezirim, Group Executive, e-Business & Retail Products, First Bank of Nigeria Limited, “FirstGem is suited for the Nigerian woman, and we are using this online community as the ideal opportunity to position the Bank’s gender initiatives to meet the required needs on a wide range of issues affecting women from lifestyle, skills acquisition, finances, wealth acquisition and management, business support, etc.
We encourage all women to join the community by signing up via this link https://firstgem.com.ng/community to enjoy this experience.
FirstGem is a gender specific account designed to meet the needs of women, aged 18 years and above. It is targeted at a broad spectrum of women, working professionals, entrepreneurs and MSMEs with a view to promoting growth via an array of benefits, from free business advisory services, regular information or insights on business opportunities in various sectors and industries, as well as mouth-watering discounts at partnered stores and outlets.FirstGem has successfully empowered women in states across the geo-political zones in Nigeria and the UK.
As part of its effort to provide access to finance for small and medium enterprises, SMEs, to grow and expand their businesses, Access Bank Plc has launched a digital lending portal, “Cashflow Loans by Access”, which is a solution for business owners to access loans easily from the comfort of their homes through an online platform while staying safe.
This new service, is accessible to all SME customers who have established sufficient cashflow records with the bank. Speaking at the launch of the portal, Victor Etuokwu, the bank’s Executive Director, Retail Banking, reiterated the bank’s commitment to impact SMEs positively.
He stated: “In a period like this, when we need to be more present and relevant in the lives of our customers than ever, we have risen to the challenge to ensure business owners have easy access to funds to sustain and expand their businesses while keeping safe. We are committed to not only providing uninterrupted service but superior service to meet the needs of all our customer segments.
“To deliver on our promise to continually give our customers ‘more’, we have developed this efficient digital lending platform which will make loan application more convenient with flexible collateral, favourable interest rates, application tracking, robust customer service and much more.
“We have been focused on providing solutions targeted at boosting the economy because we believe it is our responsibility to contribute to the stimulation of economic growth. With the launch of “Cashflow Loans by Access”, we are renewing our committment to providing the much needed financial support to SMEs.”
Whist they may not necessarily be bringing music, they know how to shake things up.
From broken hearts, to shaky friendships, and boys just trying to be boys- Aminu, Louis, Tayo and Lanre are back for another suspense and drama infused season of The Mens’ Club.
Will Tumini come back in Aminu Garba’s life? Has Louis finally found love that can rid him of his ‘Mummy’s boy title’? Does Lanre understand that these older women are more than just years, you need experience with them- someone better tell him! And can Tayo just make up his mind and ease us out of his numerous love triangles ?
Discover your favourites in this new season of The Men’s Club, set to drop on REDTV , on 22nd July, 2020.
Follow @itsredtv on IG, Twitter, Facebook and YouTube to stay up to date on exciting new shows, premium lifestyle entertainment and events.
Nigeria’s leading financial services group and holding company, FBN Holdings Plc, has won the 2020 Best Corporate Governance in Nigeria Award by the World Finance. World Finance is renowned for its comprehensive coverage and analysis of the global financial services industry, international business, and the global economy.
FBN Holdings Plc is winning this award for the second consecutive year on the back of its strong corporate governance practices and outstanding leadership in the Nigerian financial services industry
Commenting on the award on behalf of FBNHoldings, UK Eke, MFR, its Group Managing Director said; “winning the award in quick succession is a demonstration of not only the strength of our corporate governance practices but also its resilience. As a holding company, we emphasize the highest standards in corporate governance across all operating entities in our quest to deliver value to our numerous stakeholders”
For the past thirteen years, World Finance has been celebrating corporate achievements in the areas of corporate governance, innovation, and market leadership in the financial services sector across all the regions of the World.
First Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider on Thursday, 11 June 2020, presented 20,000 units of e-learning devices to the Lagos State government at the State House in Marina, Lagos. The devices are planned for distribution to school children.
With the gesture, the Lagos State governor, Babajide Sanwo-Olu said the State had found a “real development partner” in FirstBank, noting that the intervention came at a time the Government was massively deploying technology to transform the conventional mode of teaching and learning.
The presentation of these devices which is also in partnership with Robert & John (an edu-tech company that owns Roducate) is part of activities implemented to close the gap caused by the disruption in children education’s due to schools’ closure, following the COVID-19 pandemic. So far the Bank has enabled over 10,000 free sign-ups to the Roducate e-learning platform with the goal to empower one million students.
“When we were developing our vision to change the face of education in Lagos, we knew from the outset that we could not achieve much progress in improving the quality of learning without using technology as a strong enabler. So, it is not out of place that we are witnessing more infusion of technology in learning and this intervention by FirstBank could not have come at a better time,” said Babajide Sanwo-Olu, the Governor of Lagos State.
“It feels great when you have people and organisations share in your vision and working with you to realise it. I’m glad to say that we have found a real development partner in FirstBank, which has supported us to actualise the vision we have signed to achieve. Many years back, nobody foresaw Coronavirus (COVID-19) would come and disrupt our ways of life. These devices will be useful to our pupils in the current circumstances we have found ourselves.”
“FirstBank and all technical partners that worked on this project have written their names in the heart of students that will be using the device to learn. They will be forever grateful for passing the future to them.”
The e-learning device is configured in line with the government’s accredited curriculum for primary, secondary and tertiary schools across various fields of academic endeavours, such as science, commercial and arts. It is built to promote cost-effective learning as there is minimal need for internet connectivity, whilst learning on the device is on-going.
Speaking on the presentation, Dr. Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited said “the e-learning initiative aligns with our Corporate Responsibility and Sustainability initiatives and falls under one of our key strategic pillars, Education.”
“We are excited to promote education and have consistently demonstrated this in our support of 10 universities and 3 secondary schools on infrastructure projects; our support of 10 universities with professorial Chairs and provision of financial literacy, entrepreneurial and career counselling to over 80,000 students in over 80 secondary schools in the country”, he added.
The Bank has also collaborated with IBM and Curious Learning to ensure the e-learning initiative swiftly moves across the country to school children and individuals with the need to promote the pursuit of knowledge, irrespective of age.
The partnership with IBM, offers the Digital-Nation Africa program, an online youth-focused learning programme that enables innovation and skills development on emerging technologies through focus areas such as Artificial Intelligence, Coding, Cloud, Internet of Things, Blockchain, Data Science and Analytics, and Cybersecurity whilst Curious Learning offers academic-based contents for students aged 3-8, using fun, self-guided learning apps to help them with their cognitive skills at a fundamental level.
Access Bank has added another feather to its cap through the women market programme – The W-Initiative Maternal Health Service Support (MHSS) scheme.
Recall, the W-Initiative has recently welcome the birth of two new babies to the couples who accessed the MHSS financing for their IVF (In-Vitro Fertilization) procedure having waited several years.
Since 2014, The W-Initiative through its MHSS health financing programme has supported the advancement of the Assisted Reproductive Technology (ART) to enable couples access fertility treatment such as IVF.
Having successfully financed hundreds of procedures including fertility treatments, child delivery, fibroid treatments, surrogacy, bone marrow transplant and other specialised procedures, The W-Initiative remains ever committed to supporting more women and families by restoring hope and saving lives through its health financing scheme.
Women interested in accessing this health financing solution from the Bank can go through their service touch points- www.thewcommunity.com, or send a direct email to wcares@accessbankplc.com or call 01-2273005
…To fast-track 10% contribution of mining sector to GDP
The Federal Government of Nigeria has commended Heritage Bank for being part of a valuable private sector collaboration with Dukia Gold & Precious Metals Refining Co. Ltd, saying such partnership stands to create new opportunities for Nigeria to grow its potential reserves of 200 million ounces of gold.
The Vice President, Yemi Osinbajo, disclosed this during a Zoom- meet & chat session, a virtual platform at the launch of nationwide Dukia-Heritage Bank Gold & Precious Metals Buying Centres held yesterday
He affirmed that the launch of this expansive project between Heritage Bank and Dukia Gold would enable Nigeria to mine reserves properly, trade responsibly, refine locally and boost the nation’s foreign reserves.
He stated, “What we are looking at here is an extremely valuable new source of trade, jobs and foreign exchange.
“This project will create primary employment for local artisanal miners and mining cooperatives, and across the solid minerals value chain. Off-take agreements between Dukia Gold and local mining communities and owners of recyclable gold will be a useful provider of jobs in our post-covid economy.
“The positive multiplier is expected to extend even further than this as the Dukia Gold project will also encourage the emergence of smaller-scale mining companies who, for the first time, will now have a transparent and welcoming market for their mined gold and precious metals. This is set to create jobs and unleash the economic potential of mining communities.”
Osinbajo further counted the enormous benefits of the project, “This provides a sustainable way for Nigerians to exchange their gold jewellery and other precious items for cash. This system of exchange not only helps encourage a culture of recycling, but will also serve as a complementary source for the raw materials needed for the Dukia Gold & Precious Metals Refining Company. These buying centres will also enable the responsible management of some of electronic waste.”
Meanwhile, the project would further drive the diversification of the nation’s economy, Heritage Bank Plc, Dukia Gold which have given birth to a new gold and precious metal market that will grow the mining industry’s contribution to gross domestic products to over 10% by 2026.
Records have shown that the growth of mining production at the end of 2019 in Nigeria was 0.1% and the sector still contributes less than 0.5% of GDP compared to other African economies who are strong in mining like Botswana (38%), Democratic Republic of Congo (25%), South Africa (18%), Zambia (18%), Guinea (12%) and Ghana (7%).
However, the MD/CEO of Heritage Bank Plc, Ifie Sekibo stated that the partnership that would boost the mining industry production have given birth to a new market, a platform that will contribute immensely to the transformation of Nigeria’s economy.
According to him, the operationalization of this initiative aligns with the overall Economic Transformation Agenda of the Federal Government of Nigeria especially as it relates to the full stream diversification of the Nigerian economy, job and wealth creation, development of the solid mineral space amongst others.
Sekibo affirmed, “It is our believe that as the economy of Nigeria is being recalibrated, given the impact of the global pandemic, the government’s committed aspiration to build a robust and resilient economy will be further enhanced through the operationalization of this initiative working with all stakeholders across States and Government Parastatals, the Central Bank, Private Sector and other international actors towards the development of the solid minerals sector and its appendages.”
He explained that this would enhance a regulated market that would see precious metals and other commodities take centre stage in endeavour to ensuring irreversible economic growth and development in alliance with a modernized Exchange for commodities trading in Nigeria.
