Wema Bank Organises Financial Literacy Programme for Students to mark 2023 Global Financial Literacy Day.
Wema Bank Plc, Nigeria’s leading Innovative Financial Institution is championing financial literacy for the next generation by participating in the Global Money Week to commemorate the Financial Literacy Day on March 23, 2023.
In alignment with the theme “Plan your Money, plant your Future”, Wema Bank organized financial literacy sessions for secondary school students across all states where the Bank is represented. This is to instill an early understanding of the significance of building a solid financial foundation and achieving financial stability and success from a young age.
The Deputy Managing Director of Wema Bank, Mr. Wole Akinleye, led the Financial Literacy Session at Yola Model School, Adamawa State. The students were trained on personal finance topics such as budgeting, emergency funds, saving for goal actualization, investment, donating for positive societal impact amongst others. He further encouraged the students on the importance of developing financial literacy as a life skill.
Speaking on the significance of Financial Literacy Week, Mr. Akinleye emphasized Wema Bank’s commitment to empowering young minds with the skills and knowledge necessary to make informed financial decisions. In his words, “Our hope is that through these initiatives, we can empower more individuals to take control of their finances and achieve financial stability.”
Financial literacy is vital for the achievement of financial stability, and it is essential to ensure that everyone has the necessary tools to manage their finances effectively and achieve their financial goals. Wema Bank Plc is committed to providing educational resources and opportunities for children through the Royal Kiddies Account and a range of other savings products, supporting financial empowerment for the next generation.
The application is extended to the general public as it closes by 24 March 2023.
The FirstBank Management Associate Programme (FMAP) is a 24-month fast-track comprehensive programme targeted at young, dynamic and highly driven individuals that are passionate about making a difference in the financial services industry. The programme is designed to build the next generation of leaders to drive the Bank’s vision of being Africa’s Bank of First choice.
FMAP equips participants with an extensive wealth of experience comprised of both classroom and real-life work that affords an insightful and balanced insight into the world of work. The programme is targeted at hi-potential young professionals who possess acute thinking skills, financial and methodical skills, and a distinctive ability to communicate effectively and synthesize ideas, information, and data to aid decision-making.
Speaking on the FMAP Season III, Olumuyiwa Olulaja, Group Head, Human Capital Management and Development, said “since its inauguration in half a decade, we are delighted with the giant strides and impact the initiative has had in promoting the career development of emerging talents in the financial services industry as they are instilled with the tenets and ethics of the banking industry in line with global best practice.
The FMAP initiative is amongst the many ways we reinvest in our human capital as we build the next generation of leaders through their exposure to various opportunities essential to preparing their readiness for the future.
Since its launch in 2018, FirstBank has successfully trained and onboarded up to fifty talented individuals in 2 editions (2020 and 2022), who have all been deployed into strategic roles in the Bank and making a difference in the organization, while we continue to support their leadership growth and development.
Wema Bank Plans to Celebrate International Women’s Day 2023
Wema Bank, Nigeria’s most innovative bank, is preparing to celebrate International Women’s Day 2023. The bank aims to honor women and provide them with opportunities to achieve success in their personal and professional lives. The celebration will be held on March 8, 2023, in Lagos.
This year’s global theme, “Embrace Equity,” will be the focus of the event. The discussion will center on the topic of equity and achieving economic growth for women in their careers and businesses. The event will feature, keynote speaker Audrey Joe-Ezigbo, as well as panelists Tosin Olaseinde, Fela Durotoye, and Adenike Oyetunde-Lawal.
The event aims to celebrate and appreciate Wema Bank customers and the Nigerian Women in General while equipping them with knowledge they need to succeed in their careers and businesses. According to Mabel Adeteye, Head of Brand & Marketing Communications at Wema Bank, the event will enable women to achieve economic, financial, and mental growth.
Sara by Wema, the bank’s women’s proposition, has been designed to grow with women and has proven to be the best solution, with tailored offerings ranging from health plans to business financing and advisory services. Individuals who wish to attend the event, either virtually or in person, must register on the Wema Bank website https://wemabank.com/sarabywema/
Wema Bank is Nigeria’s oldest indigenous financial institution, offering a range of value-adding banking and financial advisory services for 77 years. The bank was incorporated in 1945 as a Private Limited Liability Company and transformed into a Public Limited Liability Company in 1987, listing on the Nigerian Exchange.
Cash Crisis: Former Finance Minister Idika Kalu Blames CBN
A former Minister of Finance, Dr Idika Kalu, has faulted the logistics of the Central Bank of Nigeria (CBN) for the crisis that has characterized the distribution of new N1000, N500 and N200.
Speaking on Channels Television on Friday, he noted that the new naira scarcity was a result of a huge logistic mistake.
He said, “It is obvious that what we are dealing with is huge logistic mistakes that have been made.”
Kalu added that the CBN ought to have done its preliminary assessment of how long and what it would take to ensure the efficient distribution of the new notes.
“You have to assess the timing, which is predicated on how long it will take to do the exercise that you want to do. So, that is where it is really up to the central bank and its advisers to come up to the government to say, you have agreed we will do this. This is how much time we need, every aspect of it, procuring the papers for printing, whether it is imported or locally made, the printing process itself, the logistics of identifying the various constituencies, the banks, the communities, the rural areas and all segments of this country.
“The people are not interested in all these details but you have to take into account how you are going to deliver. Is it by air, road, train or a combination of all that?,” he added.
He explained that the reason the new notes were not in banks when people needed them was due to poor logistics.
“The logistics have to be very carefully put together. It is very apparent that we did not do that. I think the logistics are really the problem not the question of jurisdiction,” Kalu noted.
He further faulted the CBN’s reasons for redesigning the old notes, stating that countries don’t change their currencies because they want to improve the effectiveness of monetary policies.
He also noted that there were other policies that the CBN and the Federal Government could have introduced if they wanted to tackle corruption and the high amount of currency in circulation.
Kalu also said that the naira redesign plan of the CBN would likely lead to a contraction in the economy.
He further questioned the metrics of inflation used to measure the effectiveness of the naira redesign policy.
“If you curtail the money supply, it will bring down inflation. But they will have to check on what it does to production and employment. So, it is not a one-dimensional measure of success,” he said.
He further described the naira redesign policy of the CBN as draconian, noting that there was something wrong with what the CBN was trying to do.
Wema Bank builds capacity for owners and managers of SMEs in Enugu
In its bid to equip small and medium-scale enterprises (SMEs) in Enugu with adequate knowledge and skills to boost their businesses, Wema Bank Plc, Nigeria’s most innovative bank, is hosting its maiden Business Growth and Innovation Conference in Enugu, the Enugu State capital. The conference, being organized in partnership with the Enugu SME Center, the Enugu State Government’s SME development agency, will hold on Wednesday, February 15th and Thursday, February 16th, 2023.
The Head, SME Banking at Wema Bank, Arthur Nkemeh, said that the two-day conference, which will cover key areas of business management, such as strategy and innovation, digital transformation, sales and marketing, and financial management, will upskill business owners and managers and boost the capacity and growth of SMEs in Enugu.
“The Enugu Business Growth and Innovation Conference is intended to bridge the knowledge gap that exists in the SMEs space. It will equip attendees with best-in-class knowledge and skills in business management. The capacity building program will be delivered by world-class facilitators who are subject matter experts in various aspects of business management, in keeping to our position as the leading bank in the SME Advisory space in Nigeria.”
He noted that, being the leading bank in the SME banking segment in Nigeria, Wema Ban has been a champion of the growth of the SME sector in the country through its various financial and non-financial (business advisory) services for SMEs.
“As a champion of the growth of the SME sector in Nigeria, Wema Bank has put in place many initiatives that will drive the growth of the sector in the country. We not only have low-cost banking products that speak to the needs of SMEs, but we also ensure that the managers and promoters of these businesses are equipped with top-notch knowledge and skills that will ensure that their businesses thrive in any given situation they find themselves.”
Arthur called on owners and managers of small and medium-scale enterprises in and around Enugu to avail themselves of the opportunity that this conference presents to build their capacity and ensure that their businesses growth potentials are achieved.
“The needs of the SMEs in Nigeria are enormous and range from access to capital to talent acquisition and retention, to management operation and so on. These needs, as diverse as they are, could be better and more effectively addressed through adequate capacity building. This is why it is imperative that SMEs owners and managers, especially those in and around Enugu, endeavour to participate in the Conference to learn new strategies that they can use to grow their businesses,” he concluded.
More information is available on the bank’s website www.wemabank.com
DESPITE DIFFICULT TIMES, FIRSTBANK EXCITED FAMILIES WITH UNIQUE “DECEMBERISSAVYBE” EXPERIENCES By Femi Oyewale
It was glitz and glamour as the premier and leading financial institution in the country, FirstBank thrilled their customer to a memorable “DecemberIssaVybe” at the just concluded Vibe on the Beach, featuring sensational music act, Ayodeji Ibrahim Balogun widely known as Big Wiz. The timing of the concert was right, having had Asake and Kiss Daniel’s concert precede that of the grammy award winning music sensation.
DecemberIssaVybe is not just about music but fun, fun and fun in its entirety, from stage plays to art and culture… the list comprised Culturati to Beeta Arts Festival Abuja, Koffi Tha Guru Unorthodox, Duke of Shomolu Production’s Encore, Our Duke Has Gone Mad Again and Ufok Iban.
Others supported by the Bank include; Joromi: The Musical Concert; Osamede, Awo and Ufok Iban by Duke of Shomolu Productions.
So back to the main gist… tell me who does not love gist, especially when it comes to Big Wiz.
Vibes on The Beach was held at Landmark Beach Oniru, Lagos on Friday, December 30th, 2022. It was unarguably an amazing night of fun and nothing but a star-studded show which exploded the audience to the height of ecstasy and rhythm of bliss courtesy of FirstBank.
With the kick time slated for 6 pm, the environs of Oniru were a beehive of activities as thousands thronged Landmark to be a partaker of the grandest Lagos concert of the year.
The organizational skills of the organizers and sponsors were nothing short of perfection as Landmark was transfigured into a haven of an international center, divided into regular, VIP, and VVIP.
Of a truth, the attendees who cut across individuals, friends, family members who came for reunions, and lovers were all smiles as they passed through the passage of entrance branded with FirstBank, the only financial brand which has provided them the opportunity and platform for yet another memorable homecoming experience with their idol, Wizkid.
Those at the regulars, VIPs, and VVIPs stands were mesmerized by the decoration and branding of the venue and the cool atmosphere which prepared them for the entrance of their favorite show hosts, Mr. Macaroni and Kiekie whose real names are Bukunmi Adeaga-Ilori.
Guests and fans of Big Wiz were in High expectations of the fun-filled experience they signed for the night when Popular skit maker cum musician, Oderhohwo Joseph Efe, famously called Carter Efe and Berri Tiga sang their trendy song, Machala, a blend of Afro-fusion. The song is widely attributed to be an anthem in honour of the superstar singer, Wizkid.
Afterwards, Landmark was thrown into a frenzy as Big Wiz, the biggest act of the night was ushered on stage. Interestingly, the entrance of Big Wiz was a barrier breaker and line crosser as those in the regular, VIP, and VVIP stands all melted into unison to the scintillating performance of the music superstar as he took everyone down memory lane starting from his evergreen debut singles to the newest and fresh contemporary songs. And guess what? Wizkid surprised everyone and added a juicy flavour to the event by doing a collaboration with the popular act, Naira Marley.
Truth be told, the 2022 edition of “#DecemberIssaVybe” by FirstBank goes beyond excitement but birthed memories that will be hard to fade off attendees’ minds for many years.
The bank’s dedication to going beyond functional products and benefits for its stakeholders and providing these types of enabling experiences sets it apart in the industry and solidifies its position as a leader in not just directly supporting the arts and entertainment industry but economically impacting its value chain.
Anyone not following the Bank is surely on a long thing but hey, it is never too late as there are still many excitements the Bank creates on its social media ecosystem via @firstbanknigeria (Instagram); @FirstBankngr (Twitter) and First Bank of Nigeria Limited (Facebook).
2023 will surely be another back-to-back hit as the financial giant creates more memorable fun for its customers and followers.
WEMA Bank Plc announces CEO Retirement and Appointment of new MD/CEO
· Managing Director/CEO Ademola Adebise to retire from Wema Bank Plc; with effect from March 31, 2023.
· Moruf Oseni, current Deputy Managing Director appointed as Managing Director/CEO
· Wole Akinleye, Executive Director appointed as Deputy Managing Director and Tunde Mabawonku appointed as Executive Director.
Wema Bank Plc. hereby announces the retirement of its Managing Director/CEO, Ademola Adebise. He will be proceeding on terminal leave from January 2nd, 2023, after over 13 years of meritorious service on the Board of the Bank. He will be succeeded by Moruf Oseni, currently the Deputy Managing Director.
Ademola Adebise was appointed as the Managing Director/Chief Executive Officer of Wema Bank Plc in June 2018. He joined the Bank in June 2009 as an Executive Director and rose to become the Deputy Managing Director in 2015. Under his leadership, he expanded the bank’s footprints to other locations in Nigeria, he improved the performance of the Bank and spearheaded the first Dividend payment in 13 years, since then, he has ensured consistent dividend payment over the last 4 years. The Bank has grown its Total Assets by 155%, from N470 billion to over N1.2trillion. Deposits also grew by 214% from N350 billion to N1.1 trillion. He initiated the partnership with Bank of Africa to support its customers across the African continent which has increased the Bank’s market share and customer base. All these led to an additional growth of 2 million customer accounts in Nigeria and a market share of 3% of industry volumes. The Bank is now the leading collection bank for state and government agencies due to its effective and efficient platform. The Bank’s rating by agencies was upgraded to BBB investment grade.
The Bank significantly changed the digital landscape through the ALAT platform. The innovative platform also came tops in the KPMG Digital Scorecard for leading retail banks in Nigeria and this was based on in-depth insights into the state of user experience on retail banks’ digital channels. Furthermore, the Bank launched the first SME Business School for capacity building and empowerment of SMEs – this has benefitted over 20,000 small businesses. The Bank also became one of the founding members of the United Nations Environmental plan for financial institutions (UNEP- FI) and continues to provide digital solutions for societal impact.
The Chairman of the Board, Mr. Babatunde Kasali on behalf of the Board and Management expressed its profound gratitude to Ademola for his service and wish him the best in his future endeavors.
Further, Wema Bank Plc. is pleased to announce the appointment of Mr. Moruf Oseni as the Managing Director/CEO subject to the approval of the Central Bank of Nigeria.
Moruf Oseni joined Wema Bank in June 2012 as an Executive Director. He has over 25 years of experience with more than 16 years at Senior and Executive Management levels. Moruf Oseni was an Executive Director for 6 years and Deputy Managing Director for the last 4 years and has demonstrated capacity to lead the Bank. He presently has responsibility for the Digital Optimization Directorate which includes – Digital, Retail, Treasury, Operations, and the Technology Divisions. Moruf is also the Executive Compliance Officer of the Bank. He supervised the launch of ALAT – Nigeria’s 1st digital Bank that has received local and global awards and multiple accolades. Before joining Wema Bank, Moruf was the CEO of MG Ineso Limited, a principal investment and financial advisory firm. Prior to MG Ineso, Moruf was a Vice President at Renaissance Capital, and an Associate at Salomon Brothers/Citigroup Global Markets in London.
Moruf holds an MBA degree from the Institut European d’Administration des Affaires (INSEAD) in France, a Master’s in Finance (MiF) from the London Business School and a B.Sc. in Computer Engineering from Obafemi Awolowo University (OAU), Ile-Ife, Nigeria. He is also an alumnus of both the Advanced Management Program (AMP) of the Harvard Business School and King’s College, Lagos.
Other Board appointments include:
Wole Akinleye: Appointed as the Deputy Managing Director. Wole has over 32 years Banking experience. He presently oversees Corporate Banking and South West Business Directorate for the Bank. A Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), Wole is an alumnus of the Advanced Management Program of the Harvard Business School. He obtained his first degree in Accounting from Obafemi Awolowo University in 1989 and subsequently, a master’s degree in Business Administration (Finance) from the same University.
Tunde Mabawonku: Appointed as Executive Director. He has over 23 years of experience and is presently the Chief Finance Officer and the Divisional Head of Finance & Corporate Services. Tunde has a master’s in finance from the London Business School and a first degree in Economics from University of Ibadan. He is a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) & Chartered Institute of Taxation of Nigeria (CITN) and is an Honorary member of the Chartered Institute of Bankers (HCIB). He has also attended several Senior Leadership programs.
In conclusion, the Board of Directors are confident that the appointment of the Executives will lead to the continued transformation and growth of the Bank, particularly as the Bank positions itself as a market leader in Nigeria’s retail banking segment through technology and innovation.
The appointments take effect from April 1, 2023 and are subject to the approval of the Central Bank of Nigeria and other regulatory authorities.
Tears of Joy as Student, Ibrahim, receives Glo Promo House
It was indeed an overflow of joy from 20-year-old Ibrahim Ayanleke Abiodun, a first year student of the University of Ilorin, and his mother as they were announced as the latest winners of a 3-Bedroom apartment in the ongoing Glo Festival of Joy promo.
On Friday, December 16, which was the day of presentation, the event proceeding was interrupted a few times to accommodate Abiodun and his mom’s expressions of joyful tears as they received their new house keys.
The Executive Chairman of Ibeju Lekki Local Government, Engineer Abdullahi Olowa, Honourable Noherm Adams, member representing Etiosa Constituency 1 in the Lagos State House of Assembly, and Globacom officials, were among those who witnessed this exhilarating experience.
In his speech, the Executive Chairman of Ibeju Lekki, Engineer Abdullahi Olowa, appreciated the great strides of Globacom, stating that the company had, since inception, pioneered and sustained the noble tradition of putting subscribers first in its operations.
“It is heartwarming to note that Globacom still keeps faith with the tradition of adding wholesome value to the lives of its subscribers”, he said.
Globacom’s Regional Manager, Lagos 1, Mr Temitope Ayeni, encouraged subscribers wishing to participate in the promo to “dial the dedicated short code *611# and recharge as appropriate to stand a chance to win any of the prizes on offer. Subscribers who desire to win any of the 3-bedroom houses must make data subscription up to at least N20,000 during the promo period. The more they recharge, the higher the chances of winning”, he said.
FIVE (5) STEPS TO TAKE YOUR BUSINESS TO THE NEXT LEVEL WITH VULTe
What would N100 million do for your business? Would you buy more equipment, acquire a bigger warehouse, move to a larger office space, hire more professionals or expand your supply chain?
Whatever the “Next Level” means for your business, you can achieve it with Polaris Bank’s SME Loan products available on VULTe digital Bank.
Get up to N100 million to take your business to the next level with the following products:
Overdraft: This is a safety net for SMEs to manage fluctuations in cash inflow or respond to emergencies. This facility allows you overdraw your account.
Term Loan: This facility offers competitive interest rate and allows you spread payment over a period of up to 24 months.
To get started, follow the 5 simple steps below:
Click on SME Loan Market Place on the VULTe app or website
Select loan type and purpose
Input amount required
Enter pin to accept provisional offer letter
Upload all necessary documents
If you are new to VULTe, download the app now on GooglePlay and IOS App Store or simply visit www.vulte.ng to get started.
VULTe is a digital Bank by Polaris Bank and available to new and existing customers.
NOVA Merchant Bank Supports Blind, Partially Sighted Kids from Pacelli School
As part of its efforts towards commemorating the International Day of Persons with Disabilities, NOVA Merchant Bank visited the Pacelli School for the Blind and Partially Sighted, Surulere, Lagos, last Thursday, donating valuable goods and materials worth millions of naira.
The International Day of Persons Living with Disabilities is a day set-aside by the United Nations to promote an understanding of disability issues and mobilize support for the dignity, rights, well-being, and inclusion of persons living with disabilities.
Led by its Executive Director, Mrs. Funke Okoya, NOVA presented gifts and other supports to the students, as part of its NOVA UPLIFT initiative, while assuring the school’s management of its continued assistance.
Okoya who told the Pacelli management that the acronym UPLIFT stands for Uniqueness, Passion, Leadership, Integrity, Fairness, and Teamwork, represents the Bank’s core value which has the specific objective of offering “Today’s solution for Tomorrow’s sustainability,” in line with the Sustainable Development Goal 2 “Zero Hunger.”
She said, “At NOVA, we are committed towards impacting various facets of the communities where we operate. These values are success tenets and should be embraced and demonstrated daily. We believe that everyone has unique abilities, and as a Bank, we are joining the conversation of creating innovative tools that are disability inclusive to help them function optimally in any workplace.”
The School’s Counsellor, Rev. Sister Christiana Ekechukwu, who commended the team for the kind and timely gesture, said, “These gifts could not have come at a better time especially as the Christmas celebration is fast approaching. We are very grateful to NOVA Merchant Bank for their generosity.”
NOVA Merchant Bank Limited is an investment grade rated merchant bank in Nigeria that offers an integrated suite of financial solutions covering Financial Intermediation, Wholesale and Investment Banking, Asset and Securities Management, Trade Services, Cash Management, Transaction and Digital Banking.
