ACCESS BANK PARTNERS SME.NG TO ROLL OUT EBI MARKETPLACE
SME.NG in partnership with Access bank Plc and other leading institutions, including the Bank of Industry (BOI), LAPO Microfinance Bank, Chapel Hill Denham, and the Impact Investment Foundation Nigeria are launching the Ebi Marketplace – a Nigerian innovation for female entrepreneurs.
The Ebi Marketplace consists of an access to capital market, an e-commerce mall and a knowledge market for female entrepreneurs in Nigeria seeking to digitize their businesses.
Conceptualised and developed by SME.NG as a tangible solution to the impact of COVID-19 on female entrepreneurs, the Ebi Marketplace aims to close the gender digital divide in Nigeria by supporting women’s digital literacy and financial inclusion, while Access Bank will be providing access to capital and markets.
Thelma Ekiyor, the brain behind the Ebi Marketplace stated that SME.NG is committed to investing in facilitating female entrepreneurs’ profitability, so that they are positioned for infusion of capital.
According to her, this innovation is supported by Nigerian investors for the Nigerian market.
“We at SME.NG see ourselves as an indigenous solutions provider in Nigeria’s SME ecosystem. Women in Nigeria establish businesses more than men, but struggle to grow beyond a certain point. We believe we have a strategic role to play in breaking that financial and growth ceiling,” she noted.
The maiden event took place at UBA’s Amphitheatre on Tuesday, 2021, and was very well attended by Ex-staff in line with the Covid-19 protocols. A number of ex-staff of the bank from within and outside Nigeria who couldn’t attend physically joined the session virtually and were able to participate in the epoch-making event.
The Chairperson of the UBA Alumni Network, Mosun Yusuf – (Matron) who was a former staff with the Employee Experience unit, welcomed all participants and explained the reason behind the establishment of the Alumni Network. She also shared the team’s expectations for the network.
She said, “What we are witnessing today is a result of enormous collective efforts that came about with the express desire of ex-staff to network and maintain a cordial relationship after their exit from the bank. It is an innovative effort to build a strong bond of human community especially in the face of technological developments that is forcing people into some sort of isolation.
Continuing, Mosun said, “We believe human connectivity is necessary to promote cordial living and will assist to achieve the individual and collective goals that we plan to attain,”
UBA’s Executive Director, Treasury and International Banking, Chiugo Ndubisi, who gave the goodwill message on behalf of the Group Managing Director, Kennedy Uzoka, commended all those who had worked tirelessly behind the scene to ensure that the Alumni was up and running.
He said, “We are indeed glad at the launch of this Alumni Network and the bank will continue to support you in any way we can. We who are still staff of the bank will follow through to ensure that things are working well so that we can also join this great network in future.”
The former FIRS Chairman and member of the UNILAG Alumni, Ifueko Omoigui-Okauru, who gave the keynote address at the event, commended Ex-UBA staff and the steering committee for this great idea of setting up an alumni network.
“I cannot over emphasise how networking and strong bonds remain essential for people even after they have left their places of employment and I therefore must commend both the Ex-staff and the bank for this great feat.
Ifueko who is currently the President of Queen’s College Alumni, cited examples of how successful her career in the FIRS was as a result of support from members of her various alumni groups despite having no prior experience working in a government parastatal.
She stressed the need for members of the Alumni network to have a clear objective and look for ways to support each other and the bank’s brand to meet their common goals.
FIRSTBANK UNVEILS A FULLY AUTOMATED SELF SERVICE BRANCH, STRENGTHENS DIGITAL TRANSFORMATION IN NIGERIA
FirstBank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services organisation has announced the launch of its fully automated branch, called the FirstBank Digital Experience Centre. It is provided to put customers at an advantage in carrying out various activities on their own without interacting with anyone. The branch is a reinvention of digital banking solutions in the country as customers are exposed to a seamless world-class banking experience.
The self-service branch is built with a wide range of phased modern banking facilities which include humanoid robots equipped with Video Banking and Artificial Intelligence (AI), taking on the role of friendly branch staff; Teller Cash Recyclers (TCRs); Self-Service kiosks for non-financial transactions such as account update; Fast Track (Contactless) ATMs; Interactive Smart Screen to ensure effective and comprehensive consultation with bank sales staff via remote video connection.
Other services include paperless/electronic forms designed to promote timely resolution of complaints, dispensing of account statements and account enquiry/management, funds transfer, dispensing of new ATM cards; fixed deposit booking between N100,000.00 to N5,000,000.00, card services and management, cheque management, email and phone number update, ATM card and token block, amongst many others.
Expressing his delight on the initiative, Dr. Adesola Adeduntan, CEO, FirstBank said ‘with our Digital Experience Centre, we have reiterated our role in pioneering leading innovative technology-driven solutions that are central to enriching the experience of our customers in carrying-out various transactions using state-of-the-art-facilities with ease and convenience. Our self-service branch exemplifies the future of banking in Nigeria and we remain committed to putting You, our customers First.
The FirstBank Digital Experience Centre is piloted by the Bank’s remodeled Adetokunbo Ademola branch, Victoria Island. The milestone initiative is scheduled to hit other locations across the country’s geopolitical zones in the coming months.
Lions’ Den: Ecobank Reiterates Support For Budding Entrepreneurs
(L-R) – Patrick Akinwuntan, Managing Director, Ecobank Nigeria Limited; Femi Ayeni, Founder and Chief Executive Officer of Ultima Studios; Carol Oyedeji, Executive Director, Commercial Banking, Ecobank Nigeria; and Dan Ngerem, Founder and Chairman of Hensen Trust Group
The Managing Director/Regional Executive, Ecobank Nigeria, Patrick Akinwuntan has reiterated the bank’s commitment to raise future Africa multinationals by assisting young entrepreneurs with funding, access to market across Africa, training, and other resources. Speaking at an event tagged: “Brunch With Entrepreneurs”, an interactive session organized by the bank for budding entrepreneurs that pitched their business ideas on the TV reality show, Lions’ Den Season one program, Akinwuntan said the forum is for top executives of the bank and partners to interact with the young entrepreneurs on the available opportunities in the bank to explore, for them to realize their potentials.
According to him, “This interaction is a continuation of our journey of building Pan African multinationals by hosting these young entrepreneurs that have debuted on Lions’ Den program, the reality show being produced by our partner, Ultima productions. Lions’ Den is a program that exposes promising entrepreneurs to potential investors who are called Lions. The Lions are businessmen and women who have pedigree, who know what it takes to make success of business. They are bringing their wealth of experience and capital to the stage to assist people with brilliant and creative ideas. I mean young Nigerians, females, and males, willing to take up the challenge of future Pan African entrepreneurs.”
He disclosed that the bank is offering its platform, Pan African network, digital offerings, and all necessary support to make the young entrepreneurs achieve their dream. “Ecobank Nigeria is an affiliate of Ecobank Transnational Incorporated (ETI). We are present in 35 countries in Africa and global presence in Dubai, London, Paris, and Beijing. We provide unique opportunities and platform to access finance, access to market across Africa, skills, and resources. This is for all the young entrepreneurs that presented business ideas at the reality show, whether the Lion’s invested in their business or not. The fact that they have reached the level to pitch for equity or venture capital, they are qualified as entrepreneurs in the making. We will support them with our various digital payments and collections such as Omnilite; SME academy, appropriate financial package, and mentorship to enable them achieve their dreams and become world leaders.
Advising the young entrepreneurs on how to pitch and get investor, one of the Lions, Dan Ngerem, Chairman, Hensen Group, advised them to maintain the originality of their business idea and remain focused in their presentation. “The key word here is to be original. Ensure you think through your project from conception, stick with the originality. Do not cannibalize your idea. Don’t oversell yourself or the project to impress, remain focused, sharpen your presentation skill, do not be scared while presenting and take notes.” He thanked Ecobank for offering its platform for the budding entrepreneurs to explore and achieve their dream.
Chief Executive Officer, Ultima Studio, Femi Ayeni applauded Ecobank’ decision to also assist the young entrepreneurs whose business idea could not get investors in the reality program. He explained that the partnership with Ecobank on the project is borne out of passion to assist young entrepreneurs to achieve their dream.
Ecobank and Ultima studio Management, staff, Guest and Entrepreneurs debuting on Lion’s Den Show
Cross sections of the young entrepreneurs were full of praises for Ecobank and partners for given them platform to realize their dream. According to Idorenyin Akpabio, Founder/Creative Director, Aideeology, a company that conceptualize and create interactive and intellectually stimulating tabletop games for the education and recreation of kids, teens and even adults, the meeting with Ecobank management was insightful, stressing that the engagement has added a lot more value to him and to his digital rolodex. “We had audience with the Ecobank MD and his amazing team. We had insightful discussions on Entrepreneurship Development, Start-up Funding, FinTech, the Pan-African Market etc. He took time to explain Ecobank’s vision and plans for Entrepreneurs, and candidly answered all questions we posed to him. It was worthwhile chatting and networking with these financial heavyweights. This has added a lot more value to me and to my digital rolodex. Behold, a pregnant future beckon.” He stated .
Obukovwo Etudoh, Chief Executive Officer, ClassiClicks Limited, a firm that manages Primary and Secondary Schools in using Games like Chess, Scrabble, Monopoly, Coding, said her appearance on the reality show is a dream come through. She said though her business was not selected, she is optimistic that she could still achieve her goals through Ecobank.
Lion’s Den is a Reality show produced by Ultima Studios and sponsored by Ecobank. It provides budding entrepreneurs investment opportunities through successful pitches. The reality show airs every Sunday at 7pm on AfricaMagic Family, Channels 154 on DSTV and GOTV Channel 2; with repeat broadcasts on Wednesdays at 3pm and on Fridays at 5pm on Africa Magic Urban, DSTV Channel 153.
Heritage Bank CEO, Sekibo, wins Banker of Year SMEs & Agric 2021 award
Heritage Bank Plc, Nigeria most innovative service provider has been adjudged Banker of the Year 2021 under SMEs and Agric category, which was awarded to the MD/CEO of the Bank, Ifie Sekibo.
The bank won the prestigious award at the New Telegraph 2021 Awards in recognition of its leadership position in delivering sterling development and growth of the Agricultural sector and the Small and Medium Enterprises.
Presenting the award to Sekibo, earlier in a letter to congratulate him for his nomination as the Banker of the Year (SMEs & Agric) of the year 2021, the Managing Director/Editor-in-Chief, Ayodele Aminu explained, “after a thorough scrutiny of Heritage Bank’s laudable support for Small and Medium Scale Enterprises (SMEs), as well the country’s agricultural sector, in the last one year by our Panel of Judges and Editors, we at the New Telegraph 2021 are pleased to award Heritage Bank, Banker of the Year (SMEs & Agric).”
Receiving the award on behalf of the bank’s CEO, the Executive Director, Jude Monye stated that the Bank was honoured and motivated to do more for the sustainability and growth of the Agric and SME sectors following the award received from New Telegraph newspaper.
“We are highly honoured to receive the award as the Banker of the Year (SMEs & Agric) from the Board and Management of New Telegraph Newspaper. This validates the hard work and success story of the bank to create, preserve and transfer wealth across generations, as amongst other sectors of the economy, we have continued to ensure our efforts to support the Agric and SMEs sector in Nigeria counts.
“This is a result that will continue to motivate us to deepen our supports to Agric, SMEs sector and the economy at large for sustainable growth,” he assured.
Sekibo vowed that in line with its core mandate to create and transfer generational wealth, the bank would continue to make farming profitable to stakeholders and attractive to the youth, as Heritage Bank had taken the front seat in financing critical agricultural projects in several states in the country, especially in Oyo, Kaduna and Zamfara and recently in Plateau Jos.
He noted that most of the ventures in the agriculture sector fall within the Micro, Small and Medium Scale Enterprises (MSME) sectors of the economy, which Heritage Bank in close collaboration with CBN has been championing.
According to him, in complimenting the efforts of the Central Bank, Heritage Bank has made a huge success of the established agricultural schemes by making funds available to both small holder farmers and SMEs (Prime Anchors) in their efforts to increase agricultural output especially rice and wheat productions.
He explained that Heritage Bank has deepened support of small holders’ farmers and anchors in Ogun, Niger and recently Plateau state in rice and wheat seed and grain production under Prime ABP, which would help tackle gaps inherent.
“Heritage Bank in partnership with CBN is set to reverse the adverse trends by eliminating dependence on imported wheat which currently stands at over $2 Billion and the unavailability of high yield wheat seed that stands at 63,000 MT through a strategic approach which would facilitate import substitution and promote self-sufficiency in the wheat value chain in Nigeria, by funding the local production of wheat and encouraging backward integration by wheat millers,” he stated.
Meanwhile, Heritage Bank has recorded notable success stories in the Agric and SMEs’ spaces which in 2017 the bank won the maiden award from CBN for Sustainable Transaction of the Year in Agriculture.
In 2018, Heritage Bank emerged as a winner in the Agriculture Category during the year’s CBN Sustainable Transaction of the year award. The Nigeria Agriculture Awards (NAA), announced Heritage Bank as the Agric. Bank of the Year. According to NAA, Heritage Bank was selected in recognition of its footprints in the Agribusiness space.
In 2019/2020, Heritage Bank secured mandate as Transaction Advisers and Settlement Bank on Agribusiness and Solid Minerals to Lagos Commodities & Futures Exchange.
ZENITH BANK ACTIVATES THE SPIRIT OF CHRISTMAS WITH AJOSE ADEOGUN STREET LIGHT-UP
The Group Managing Director/Chief Executive of Zenith Bank Plc, Mr. Ebenezer Onyeagwu flanked by Executive Director, Mr. Dennis Olisa (1st Right); Head, Retail Banking, Mr. Lanre Oladimeji (4th Left); Executive Director, Mr. Henry Oroh (3rd Left); Head, Credit Risk Management, Mr. Felix Anahve (2nd Left) and General Manager, Mr. Lawani Adamu (1st Left) at the 2021 Zenith Bank Christmas Light-Up of Ajose Adeogun Street, Victoria Island on Saturday, November 20.
The yuletide season has come to life in Lagos with the 2021 Zenith Bank Christmas Light-Up Ceremony, which held at the Ajose Adeogun Street Roundabout, Victoria Island, Lagos, on Saturday, November 20 2021.
With the theme “Let There Be Light”, this year marks the 15th edition of the traditional Light-up Ceremony at the Ajose Adeogun Roundabout. Following the onset of the Coronavirus (COVID-19) pandemic, which stopped the annual event from holding last year, this year’s ceremony is indeed a momentous and significant one as it signals the return of what could be described as a spectacle that has come to be recognized by not only Lagosians but Nigerians in general as an iconic place and tourist attraction because of the beautiful decorations adorning the length and breadth of Ajose Adeogun Street – home to Zenith Bank’s Headquarters, during the yuletide season.
The official lighting ceremony, which was performed by the Group Managing Director/CEO of Zenith Bank Plc, Mr. Ebenezer Onyeagwu, supported by Executive Management, saw thousands of the Bank’s staff and customers joining virtually and through the Bank’s social media platforms.
Speaking during the ceremony, Onyeagwu praised Quantum, the company responsible for the annual decorations, for the very outstanding, gorgeous and extremely beautiful work that they have done this year. In his words, “each year when we come in, and we see the decorations, I keep asking myself what next? Would there be something better than what we have seen and I see that at the end of every season, they come up with innovations and creativity, and they make it even far better and take it to a higher level”.
Onyeagwu expressed his delight that this year’s Light-up Ceremony is able to hold following the cancellation of last year’s edition due to the COVID-19 pandemic and the EndSARS protests. According to him,“last year was a very unusual year. Covid threw a curveball at humanity, and as a result, it changed the way we engaged and the way we live; it transformed so many other things, and as a country, we had some unique challenges. As a result of those challenges, especially the EndSARS protest, last year we couldn’t light up, not because there was no money. It was because we had to grapple with Covid-19, and again during the EndSARS protest, the fittings that we employ in having this light-up were terribly vandalized, and it required time and resources for us to put it together. We didn’t want to have any undue exposure or create vulnerability. Therefore we had to allow time to put the fittings back, and as soon as we have put it back, here we are today”.
He noted that Zenith Bank is very happy to be able to reconnect with activating the spirit of Christmas, with the return of the annual turning on of the Christmas lighting and the decorations of Ajose Adeogun Street, which can compare and compete with any decorations anywhere in the world – be it in Europe, North America, or Asia.
Whilst wishing everyone a Merry Christmas filled with joy, love, peace and harmony, he enjoined all to remember that Christmas is also a time for sober reflection when we think about things that we couldn’t do and focus our thoughts on being better people and building a better society and country. He also used the opportunity to remind Nigerians and the whole world in general that the fight against COVID-19 is far from over. He, therefore, appealed to everyone that as “we celebrate Christmas, we should celebrate responsibly, maintain social distance, wear our masks and for those of us who haven’t been vaccinated, please take your vaccine for vaccination is saving lives”.
The Light-Up Ceremony is one of the many Corporate Social Responsibility and Sustainability Initiatives of Zenith Bank, as the Bank continues to lead in corporate social responsibility (CSR) contributions and spending by Nigerian financial institutions. Indeed, Zenith Bank has clearly distinguished itself in the Nigerian financial services industry as an institution that is committed to building a more sustainable and inclusive economy and one that promotes responsible business practices in Nigeria through the integration of sustainability principles in its business operations.
Zenith Bank’s sustainability and CSR initiatives are hinged on the belief that today’s business performance is not all about the financial numbers – the Bank believes that an institution’s social investments, contributions to inclusive economic growth and development as well as improvements in the condition of the physical environment, all constitute a balanced scorecard.
Through its CSR initiatives, the Bank has embodied the overarching objective of the 17 SDGs, which provide a framework for addressing the major challenges confronting our society. Its social investments are targeted at health, education, women and youth empowerment, sports development and public infrastructure enhancement. Overall, Zenith Bank’s total social investments in 2020 stood at NGN3.29 billion ($8.62million), representing 1.66 per cent of its Profit After Tax.
The Bank remains committed to furthering the economic, cultural and social development of host communities, particularly through community-based initiatives and philanthropy. As a good corporate citizen, it continues to deliver projects that have long-term social and economic benefits for the communities because it believes that its business is only as strong as the communities in which it operates.
To demonstrate its commitment to creating and expanding opportunities, the Bank regularly makes donations towards the setting up of ultramodern ICT centres in several educational institutions across the country. It also supports various developmental projects, and healthcare delivery causes in Nigeria and contributes to the development of sports in Nigeria through its sponsorship of the Zenith Women Basketball League and the Zenith Bank Delta State Principals’ and Headmasters’ Football Competitions, to mention a few.
The Bank also demonstrates leadership when its host communities deal with a crisis. For example, following the unfortunate gas explosion incident of March 15, 2020, which led to the loss of lives and properties at the Abule-Ado area in Amuwo Odofin Local Government Area of Lagos State, Zenith Bank made a donation of NGN100 million to the Emergency Relief Fund set up by the Lagos State Government for the victims of the explosion.
Amidst the COVID-19 pandemic, Zenith Bank’s commitment to sustainability has not waned, as the Bank donated NGN1 billion as part of the Coalition Against COVID-19 (CACOVID), a private sector-led initiative to support the Nigerian Government to combat the Covid-19 crisis.
ONYEAGWU CALLS FOR COLLABORATION WITH NIGERIANS IN THE DIASPORA FOR SUSTAINABLE ECONOMIC GROWTH AND DEVELOPMENT
Ebenezer Onyeagwu
The Group Managing Director/Chief Executive of Zenith Bank, Ebenezer Onyeagwu, has called for increased collaboration of Nigerians in the diaspora for the nation to achieve its economic growth targets. He made the call during the 4th Edition of the Nigeria Diaspora Investment Summit 2021 organised by the Nigerians in Diaspora Commission (NiDCOM) on Tuesday, November 16, 2021. The hybrid event which held at the State House Banquet Hall, Aso Villa Abuja & Virtually had in attendance the Secretary to the Government of the Federation, Ministers of the Federal Republic of Nigeria and State Governors.
Delivering his remarks on this year’s theme: “Partnership and Linkages for Post Covid Economic Growth”, Onyeagwu noted the aptness of the theme of the summit, as it underscores Nigeria’s need for robust growth following the unprecedented impact of the COVID-19 pandemic, which triggered a severe macroeconomic shock.
Onyeagwu commended the Federal Government and the Central Bank of Nigeria (CBN) for leading with policies that create an enabling environment for investment in Nigeria, such as the “Naira 4 Dollar Scheme”, which contributed to boosting diaspora remittances by providing incentives for recipients of international money transfers. In his view, this and other policies encourage the senders and recipients to channel inflows through the official market, knowing that they will not be shortchanged.
Onyeagwu also passionately highlighted Nigeria’s enormous investment potential, especially the nation’s huge market and youthful population, which is a veritable source of labour and a consuming population.
Highlighting the need for partnership and collaboration of Nigerians in the diaspora to achieve Nigeria’s economic growth targets, particularly during these challenging times, Onyeagwu pointed out that across the globe, the diaspora community plays a critical role in their home country’s economic growth and development. He noted that Nigeria has enormous potential to attract significant diaspora inflow, most of which is coming in through informal channels. These remittance inflows and investments, which are counter-cyclical, help in ameliorating foreign exchange challenges as the funds form a significant buffer for the country’s foreign reserves.
Onyeagwu identified the healthcare sector as one area where diaspora investment and intervention are urgently required. In his words, “by leveraging the expertise of our diaspora healthcare professionals in some of the emerging world-class health facilities in Nigeria, such as Evercare Hospital, Ibom Specialist Hospital and Base University Hospital, we can begin to curb the loss of foreign exchange to medical tourism”. He, therefore, called on the various associations and groups of Nigerians in the diaspora to pull resources together and identify viable investment opportunities in the homeland.
Whilst commending the untiring efforts of NIDCOM led by Honourable Abike Dabiri-Erewa in supporting the engagement of Nigerians in diaspora in the country’s policies, projects, and development programmes, Onyeagwu canvassed that the narrative should shift from diaspora remittance to Diaspora Direct Investment as advocated by Honourable Abike Dabiri-Erewa and Mr. Emeka Offor, Acting Executive Secretary/CEO, Nigeria Investment Promotion Commission (NIPC).
Onyeagwu noted that as a socially responsible organization, Zenith Bank continues to play its part in promoting investment in Nigeria. In the light of this, the bank is proud of its partnership with the Nigerians in Diaspora Commission (NiDCOM) and the Nigeria Diaspora Investment Summit (NDIS) and remains committed to creating value for Nigerians in the diaspora through its unique products, services and quality service, including mortgage. He noted that Nigerians in the diaspora could open bank accounts with Zenith Bank through various online and digital channels and do not need to visit Nigeria to have bank accounts back home.
Zenith Bank is Nigeria’s largest and one of Africa’s largest financial institutions by tier-1 capital, with shareholders’ funds in excess of NGN1.1 trillion ($2.64 billion) as at December 31, 2020. The bank is a clear leader in the Nigerian financial space, with several firsts in the deployment of innovative products and solutions that ensure convenience, speed and safety of transactions.
Ecobank Announces First Set of Weekly Beneficiaries in Super Rewards Season 2
Ecobank Nigeria has announced the names of the first set of weekly beneficiaries of N25,000 each in the second edition of its Super Rewards campaign. The Super Rewards campaign which successfully ran for four months in its first edition was relaunched in October 2021 and is expected to run till January 2022. During this period, 50 winners will win N25, 000 each in every week for the next 16 weeks.
Overall 800 customers are expected to win N25,000 weekly from now till January 31, 2022. At the end of the campaign, four millionaires will emerge in each of the four regions of Lagos, FCT/North, Mid-West/South West and South South/South East regions, by winning the grand prize of N1, 000, 000 each. A customer can however be rewarded more than once provided they fulfil the conditions for eligibility. In addition, a referral scheme has been introduced to this current season, enabling customers of the bank to earn money when they refer other people to open accounts.
Announcing the winners in Lagos, Korede Demola-Adeniyi, Head, Consumer Banking, Ecobank Nigeria, said the Super Rewards scheme is part of the bank’s loyalty initiatives, noting that the beneficiaries are spread across many customer segments and geographical locations in the country. She noted that the winners have since been contacted.
Further, Mrs. Demola-Adeniyi reiterated that participation is open to both new and existing customers of the bank, advising the public that this is the perfect time to open an Ecobank Savings or Current Account or reactivate and fund a dormant account to qualify for the reward and enjoy a first-rate banking experience. She enjoined existing customers to earn referral commission by introducing family members, friends and colleagues as new customers to participate in the campaign.
The Ecobank Super Rewards Campaign requires new customers to open an account with a minimum of N5,000 and maintain the deposit for a 30-day period; the same condition applies to existing customers, who only need to fund their active account with a minimum of N5,000 or reactivate their dormant account with a minimum of N5,000 and maintain the deposit for a 30-day period. Customers can withdraw funds from their account during the campaign period but will only qualify for the reward if they maintain a minimum balance of N5,000 in their accounts. Other details of the campaign are available at www.ecobank.com/superrewards
LITF Lauds UBA’s Contribution To Growth Of African Economies
….AfCTA Present Limitless Opportunities, GDP of $3.4 trillion.
President, Lagos Chamber of Commerce and Industry LCCI; Mrs Toki Mabogunje; Group General Manager, United Bank for Africa, Mr Muyiwa Akinyemi, and Ambassador Stanislas Kamanzi, High Commissioner of the Republic of Rwanda at the Africa Day Celebration themed ‘Boosting Intra-African Trade’ at the on-going 2021 Lagos International Trade Fair which UBA is the Headline Sponsor held in Lagos on Wednesda
The Lagos Chamber of Commerce and Industry (LCCI) has commended Africa’s global bank, United Bank for Africa (UBA) for its contribution to infrastructure development and growth of trade in the 19 countries where it operates, which is why the bank remains its preferred partner for the Lagos International Trade Fair (LITF).
The President, LCCI, Mrs. Toki Mabogunje, said this while delivering a welcome address with the theme: ‘Boosting Intra Africa Trade ’during the Africa day celebration, held at the ongoing 35th edition of the Fair in Lagos.
She explained that the Africa Day was implemented because of the African Continental Free Trade Area (AfCFTA) agreement which is a long term dream and a long term goal, adding that; “To this end we have started taking first steps and are doing a lot of sensitization and awareness especially for the MSMEs.”
Mabogunje who took time to appreciate UBA’s efforts as headline sponsor, appreciated the bank’s consistency and support rendered to SMEs through making available windows of opportunities for businesses to thrive during and after the Fair.
She said, “Partnering with UBA is significant because it is an organisation that has its footprint in 20 countries and that is a big feat, it is not easy to achieve that. As Partners we are thinking in the same way and working together. UBA is also making it possible for us to successfully deliver LITF to the Nigerian and international public, and based on this fact we are profoundly appreciative and satisfied that we have a competent partner.”
UBA’s Head, Commercial & Corporate Banking, Muyiwa Akinyemi, while speaking at the event, said UBA realises that SMEs are the fulcrum of growth in any economy and is therefore dedicated to helping them thrive.
Akinyemi noted that boosting Intra-Africa trade is pertinent if Africa must truly attain self-reliance and economic development, adding that Africa and indeed Africans, must own the narrative for the economic emancipation of the continent.”
Akinyemi said, “The Theme of this year’s event resonates with our mission to create value for our stakeholders by supporting businesses across Africa, which led to our rapid expansion from Ghana in 2005 to 18 other locations in Africa within a space of five years. AfCTA is a transformational journey that we must all embrace and encourage, because it presents us with opportunities that will lead to creating a market of over 1.2 billion people with a combined GDP of over $3.4 trillion. Hence the possibilities of growth and prosperity on the continent are endless.”
The Chairman, Trade Promotion Board of the LCCI, Gabriel Idahosa, agreed with the possibilities that AfCTA presents and said it was one worthy of committing too. He also applauded UBA and the LCCI President as well as all members of the Executive Committee and Council for the tremendous support given which has been instrumental to the success of the fair thus far.
L-R: Commercial Secretary, Embassy of Egypt, Amr Altantawy; Consul General, Ghana Consulate General, Lagos, Ms. Samata Gifty Bukari; President, Lagos Chamber of Commerce and Industry LCCI; Mrs Toki Mabogunje; Group General Manager, United Bank for Africa, Mr Muyiwa Akinyemi, and Ambassador Stanislas Kamanzi, High Commissioner of the Republic of Rwanda at the Africa Day Celebration themed ‘Boosting Intra-African Trade’ at the on-going 2021 Lagos International Trade Fair which UBA is the Headline Sponsor held in Lagos on WednesdayL-R: Commercial Secretary, Embassy of Egypt; Amr Altantawy; Consul General, Ghana Consulate General, Lagos Ms Samata Gifty Bukari; Group General Manager, United Bank for Africa, Mr Muyiwa Akinyemi, receiving Plaque of Appreciation from the President, Lagos Chamber of Commerce and Industry(LCCI), Mrs. Toki Mabogunje ; Vice President, LCCI , Mr. Gabriel Idahosa, and High Commissioner of the Republic of Rwanda, Ambassador Stanislas Kamanzi, at the Africa Day Celebration themed ‘Boosting Intra-African Trade’ at the on-going 2021 Lagos International Trade Fair which UBA is the Headline Sponsor held in Lagos on Wednesday.
Nnamdi Okonkwo, the newly appointed Managing Director of First Bank of Nigeria (FBN) Holdings Plc, has been arrested and detained by the Economic and Financial Crimes Commission (EFCC).
According to Premium Times, Okonkwo is being questioned over his role in the transfer of $153.3 million from the Nigerian National Petroleum Commission (NNPC) in favour of Diezani Alison-Madueke, Nigeria’s former petroleum minister.
A source said that the banker, who was managing director of Fidelity Bank at the time of the incident, has remained in EFCC custody for at least three days, and it was unclear when he would be allowed to go home.
The EFCC had on April 28, 2016, detained Okonkwo over the same matter and later slammed a 14-count charge, including money laundering, on him. The status of the case is unclear as of the time of filing this report on Sunday morning.
It is also unclear if there are fresh evidences against the banker which has now necessitated a fresh round of investigation. EFCC officials contacted declined to provide details.
The board of FBN Holdings Plc had on October 28 appointed Mr Okonkwo the new GMD of the company with effect from January 1, 2022. He will succeed U.K. Eke, who will step down on December 31, according to the company’s note to the Nigerian Exchange Limited.
The board decision came five days after the chairman of Geregu Power Plc, Femi Otedola, declared his 5.07 per cent stake in the group, making him a substantial shareholder.
