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His Excellency, Mr. Babajide Sanwo-Olu, Executive Governor, Lagos State; (Middle); Dr. Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited (second right); Honorable Jude Emeka Idimogu, Chairman, House Committee on Wealth Creation, Lagos State House of Assembly (right); Mrs Yetunde Arobieke, Honourable Commissioner, Wealth Creation, Lagos State (second left) and Mrs Tatiana Monsalli-Nouri, member, Board of Trustees, Lagos State Employment Trust Fund (LSETF) – represented Mrs Bola Adesola, Chairperson, Board of Trustees (BoT), LSETF (left) at the launch of the LSETF-FirstEdu Loan, to cushion the impact of COVID-19 pandemic on low-cost private schools, held today at the Banquet Hall, Lagos House, Alausa, Ikeja, Lagos State.
First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced its partnership with Lagos State Employment Trust Fund (LSETF) in a matching fund scheme. The scheme aims to cushion the impact of COVID-19 pandemic on low-cost private schools by ensuring lending at an attractive interest rate.
The programme will provide access to finance where participating schools can each be availed up to N5 million as well as capacity development, business and financial advisory. There will be monitoring and evaluation to ensure prompt loan repayment.
To enjoy this funding opportunity, applications will be submitted via the LSETF portal for screening while successful applicants will be passed on to FirstBank for the loan appraisal and disbursement process. The loan is meant for working capital and asset finance to enable schools resuscitate their practice, acquire needed materials, upgrade their facilities, as well as pay staff salaries in order to bounce back, especially after the lockdown.
This scheme promotes entrepreneurship in Lagos State which is in tandem with the vision of LSETF to create employment and entrepreneurship opportunities for Lagos residents. It has provisions for Micro Enterprises (ME) and Small and Medium Enterprises (SMEs) across all the 57 LCDAs in the 20 LGAs in Lagos State.
Sanwo-Olu, the Executive Governor of Lagos State said the N5 billion Education Loan Programme was a precursor to many more human development sector-specific support programmes that would be unveiled by the LSETF on behalf of the State Government next month.
R – L: His Excellency, Mr. Babajide Sanwo-Olu, Executive Governor, Lagos State and Dr. Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited at the launch of the LSETF-FirstEdu Loan, to cushion the impact of COVID-19 pandemic on low-cost private schools, held today at the Banquet Hall, Lagos House, Alausa, Ikeja, Lagos State.
The Governor explained that the intervention was necessary, given the importance of education to building human capital. He said his administration took education as critical building 21st century economy and realising objectives set out in the T.H.E.M.E.S. agenda.
The beneficiaries, Sanwo-Olu said, will have access to single-digit loan facilities to fund the provision of the amenities and services needed to aid learning.
He said: “It is thus heart-warming to have First Bank of Nigeria electing to be our exemplary partner for this intervention. With their support, players in the education sector would be getting the financial support they need to boost learning at a single-digit interest rate.
“I also commend the Board of LSETF and the management for this significant accomplishment. They have helped the Lagos State Government build an institution that has engendered public trust and elevated the hope of small businesses and young people, irrespective of challenges faced.”
According to Dr. Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited, “at FirstBank we recognise the indelible role played by the education sector in the growth of any economy and this underscores our partnership with Lagos State Government for continuous development of the education services in Lagos State and the nation as a whole. The commitment by the Lagos State Government – including this partnership – to enable schools is quite commendable as this will mitigate the challenges caused by the lockdown on the education sector following the COVID-19 pandemic.”
“With the single-digit funding targeted at about 2,000 low-cost private schools in the State, we are delighted at this opportunity to demonstrate our commitment to the development of education in Lagos State, thereby contributing our quota to further the mandate of the Lagos State Government – in partnership with LSETF – on economic growth, enhanced opportunities for employment and bridging societal gaps in education,” he concluded.
Commenting on the Eduloan programme, Mrs Bola Adesola, Chairperson, Board of Trustees, Lagos State Employment Trust Fund (LSETF) stated that; “According to the NESG the Education Sector remains a growth area for job creation and a report on job creation by the NBS states that the Education Sector is one of the top 5 sectors that created over 59m jobs in 2017. This fact is buttressed by the data collected by LSETF in previous loan programmes. The objective of the LSETF-FirstEdu loan is to create employment, improve the quality of education for our youth by providing access to affordable finance to low-cost private schools and vocational training centres
“We are confident that this intervention fund, which is complemented by our free professional and institutional support structures, will ensure that the education ecosystem in Lagos State will witness an improvement in the overall learning outcomes for our children, while positively impacting on the Lagos local economy through wealth and job creation.,” she stated.
Only recently, FirstBank partnered with the Lagos State government, Robert & John, IBM and Curious Learning with a resolve to enable the education of 1 million Nigerian students through innovative eLearning solutions that will drive sustainable efforts towards improving education for all. As part of the partnership, the Bank donated 20,000 units of e-learning devices to the Lagos State government.
These partnerships reinforce FirstBank’s “You First” brand promise of putting not just its customers first but the economy of its host communities.
L-R: Managing Director/CEO, Cognitio Communications, Sam Osunsoko; former SA to Lagos State Governor on Revenue and Taxation, Bola Shodipo; One of the Winners Opeoluwa Ogundibo; Deputy Director/Coordinator, National Lottery Regulatory Commission, Priscilla Onuzulu; and Managing Director, Humber International, Andrew Humber-Osofisan, at the Grand launch and Cheque presentation of TYLGAMES in Lagos…yesterday
A Lagos based young entrepreneur, Emmanuel Umoga, has emerged the first N1million grand prize winner at the inaugural draw and cheque presentation ceremony of the lottery platform, TYLgames in Lagos.
The TYLgames grand launch and cheque presentation that took place at Calabar Hall in Surulere, Lagos at the weekend saw another 29 gamers being presented with their winning cheques ranging from N10, 000 to N500, 000.
TYLgames, a gaming (Lottery) platform is designed to positively touch gamers’ lives one game at a time. The focus is on gamers rather than on the gaming platform; placing in their hands the power to transform their lives with each game they play hence the acronym “TYL”.
TYL is an Instant Play, Instant Win, instant cash out game played on SMS, USSD, and Mobile Web platforms with the short code 33088. There are currently two games available to choose from, an instant numbers game tagged “SHOKI” and “SHAFFLE” which is a daily raffle game. With N100 game cost, a player can win up to N100,000 instantly and up to N1,000,000 in 24 hours by dialing or texting to 33088 or *33088# for USSD respectively.
According to the Managing Director/Chief Executive Officer of Humber Group, owners of TYLgames, Mr. Andrew Humber-Osofisan, “TYLgames is an innovative luxury product that is designed to positively touch gamers’ lives in real time.”.
“You can change your life with N100”, Andrew Humber-Osofisan said. “Currently, there are two games available to choose from, SHOKI and SHAFFLE. SHOKI is an instant number game while SHAFFLE is a daily raffle game. Every time you dial *33088#, you win a SHAFFLE ticket that qualifies you for a draw that will be done every night, making you stand to win up to N1 million. Every successful play is charged N100.”
On transparency, he said, the regulatory authorities and Lagos State government are fully involved hence the platform desire to be credible and transparent
The Managing Partner of Cognitio Communications, Mr. Sam Osunsoko, referred to TYLgames as a vision of empowerment due to the fact that it came at a time when the economy has suffered at the hand of COVID 19 pandemic.
L-R: Managing Director/CEO, Cognitio Communications, Sam Osunsoko; former SA to Lagos State Governor on Revenue and Taxation, Bola Shodipo; Winner of N1million, Emmanuel Umoga; Deputy Director/Coordinator, National Lottery Regulatory Commission, Priscilla Onuzulu; and Managing Director, Humber International, Andrew Humber-Osofisan, at the Grand launch and Cheque presentation of TYLGAMES in Lagos…yesterday
“TYLgames gives you the opportunity to win different range of prizes that can help you cushion the effect of the current economic hardship” he said.
Mr. Bola Shodipo, Former Special Adviser to the Lagos State government on Revenue and Taxation, who encouraged and mandated the managers of TYLgames to make sure the platform is fair to the gamers, stated that state government is to ensure growing opportunities that can increase the GDP of the state. “TYLgames is an economic activity that can grow the GDP of Lagos State and by extension, the Federal government”, he said.
The Deputy Director/Coordinator National Lottery Regulatory Commission, Lagos Zonal Office, Mrs. Onuzulu Priscilla Nkiru, ascertained that TYLgames is approved and that Humber Group has been doing the right thing from day one. She encouraged gamers to shout out if there is any reneging on promises made.
An elated Umoga who narrated his experience said, “I saw the game online and I played. I played only once and my number was picked. It is very refreshing to know that game like this exist in Nigeria. I want to encourage Nigerians to play this game because it is valid,” he said.
Amongst the thirty winners who emerged during the inaugural draws Umoga, the grand prize winner of N1 million, Mr. Opeoluwa Ogundibo and Mr. Kehinde Sadik were present at the cheque presentation ceremony.
L-R: Managing Director/CEO, Cognitio Communications, Sam Osunsoko; former SA to Lagos State Governor on Revenue and Taxation, Bola Shodipo; One of the Winners Kehinde Sadik; Deputy Director/Coordinator, National Lottery Regulatory Commission, Priscilla Onuzulu; and Managing Director, Humber International, Andrew Humber-Osofisan, at the Grand launch and Cheque presentation of TYLGAMES in Lagos…yesterday
The management team of BrandEscort has announced BUA Group as its #9jaSuperBrandOfTheMonth for September.
BUA Group was nominated for donating an additional sum of N350million to CACOVID (the Central Bank of Nigeria-led private-sector coalition on Covid-19) in September, bringing to N1.35billion its total donation to CACOVID, in a bid to sustain the fight against Coronavirus in the country.
So far, BUA has committed over N7 billion in cash, donations, infrastructure, foodstuff and medical supplies to the fight against the virus, not minding the challenges faced by businesses globally, as a result of the pandemic.
The company in September also announced the donation of N100million to the Kebbi State Government to support victims of the recent flooding in the state.
Speaking on the donations, the Chairman of BUA Group, Abdul Samad Rabiu, said BUA remains committed to its sustainable development obligations as a responsible corporate citizen and will keep supporting various social and humanitarian interventions wherever it can.
Rabiu also specifically commended the efforts of the Governor of the Central Bank of Nigeria, Godwin Emefiele in coordinating the CACOVID intervention efforts in a transparent and accountable manner.
“I must also commend the efforts of Governor Godwin Emefiele who has brought his astute leadership to bear in the running of CACOVID with Aliko Dangote and other members of the CACOVID steering committee of which BUA is a pioneer member.”
“We intend to keep monitoring the situation in collaboration with other relevant stakeholders and are ready to contribute even more, where necessary”, Rabiu added.
#9jaSuperBrandOfTheMonth is a monthly award initiated by BrandEscort, aimed at inspiring innovation and creativity in brands to enhance the lives of the Nigerian consumers.
9mobile was nominated for nominated for the award in August for launching a campaign that promised to reward 90 lucky customers with N1 million daily.
Heritage Bank Plc, Nigeria’s Most Innovative Banking Service provider has called on internal auditors of banks to adopt the various digital technologies to prevent fraud and annul the adverse impact of Covid-19 on the financial ecosystem.
Speaking at the just concluded 47th Quarterly Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), the MD/CEO of Heritage Bank, Ifie Sekibo disclosed that for improved banking operations and safer financial system for stakeholders, internal auditors must be dynamic and quick to adopt various digital measures.
Raising the alarming impact of fraudulent activities in the banking sector, Sekibo quoted PricewaterhouseCoopers’ (PWC’s) Global Economic Crime and Fraud Survey 2020, revealing that that the total cost of cybercrimes is worth an eye-watering $42 billion, which was cash taken straight off companies’ bottom line, whilst 13% of those who had experienced fraud said they had lost $50 million-plus.
Sekibo, who spoke on the theme, “Elevating Internal Audit’s Role in the Face of Emerging Risks and Opportunities” organised virtually and hosted by the Heritage Bank, urged, “While it was sufficient for yesterday’s auditor to understand regular and routine banking practices such as credit, treasury, etc in his traditional assurance role, for him to be relevant in harnessing the opportunities in today’s business world, he must become versed in cybersecurity, artificial intelligence, data analytics, fraud management, regulatory pronouncements, forensics etc and having equipped himself, present balanced, objective audit reports to Executive Management while striking the right balance between the assurance and consulting responsibilities.”
In her keynote address, titled, “Elevating Internal Audit Role In The Face Of Emerging Risks and Opportunities,” Ibukun Beecroft, Partner Risk Advisory at Deloitte, noted that the banking industry in Nigeria today has adopted various digital measures to keep the business running and delivering services to the customers but there was need for Internal Audit (IA) positioned to provide the required assurance and consulting services in the face of the changes and attendant risk, particularly increased cyber-risks.
Quoting 2018 Financial Stability Report by the Central Bank of Nigeria, she stated that Banks recorded 25,029 confirmed cases of fraud and this resulted in a loss of N2.21 billion. More than 90% of fraud cases in 2018 were perpetrated via technologically driven channels.
“As Internal Auditors, the knowledge of technology would enable us identify gaps in our core banking applications and other applications and provide relevant recommendations to eliminating loopholes that may serve as an avenue for potential fraud.
She, however, advised auditors on the need to focus on advanced technologies and risk management operations as reflected around the Three Lines of Defense (3LOD) churned out by the Institute of Internal Auditors, which create opportunities for IA and its future role.
Beecroft warned that the ever-changing landscape and evolving risks in the banking industry could render the current internal audit plan obsolete.
According to her, internal auditors should reprioritise the audit plan as soon as possible to provide assurance over the most consequential risks while being cognisant of the impact on operations.
“To take advantage of these changes and disruptions, auditors need to rethink their role by adapting to and embracing change, enabling the IA function to become more agile, nimble, and forward-looking, thus driving change through the 3LOD,” Beecroft stated.
Yetunde Oladeji, Director Internal Audit Services at PricewaterhouseCoopers Limited (PWC), who spoke on the theme, “Elevating IA’s role to meet today’s emerging risks,” advised that the banking sector should be dynamic, prioritse digitization and flexibible workforce strategies as these would determine its ability to adapt to rapidly changing circumstances to survive and thrive.
Ecobank Nigeria in partnership with Vanguard Conferences and Economic Forum Series have announced that it is convening a Digital Financial inclusion Summit to drive, promote and deepen financial inclusion amongst the unbanked and underbanked population in Nigeria. Current statistics shows that 84.6 million Nigerians accounting for 47% of the population are unbanked, against mobile phone penetration which is up to 94.5%.
The Digital Financial Inclusion Summit slated for October 21st, will bring together trade groups and associations with large unbanked populations and individuals within the lower rung of the society who have not seen the need to be included in the financial sector or adopt financial services through digital platforms. This is a direct response to encourage the adoption of innovative payment solutions and digital banking services in the post covid-19 era.
Announcing the summit in Lagos, Head, Consumer Banking, Olukorede Demola-Adeniyi said the Digital Financial Inclusion Summit will be a platform to discuss the need for a comprehensive alignment of policy and regulatory frameworks among regulators like CBN, NCC, NITDA to support a sustainable digital financial inclusion growth, examine key issues and ways of advancing digital financial inclusion for women, youths and MSMEs and discuss the role of interoperability in mobile payment innovation. Further she mentioned that the role and impact of agency banking for financial inclusion growth will be x-rayed as well as the need for public and private sector investments in internet infrastructure and mobile connectivity growth in rural areas.
According to Demola-Adeniyi, the digitisation of payment and financial services has become an important economic development priority with the prospect of reaching far more people with a broad range of financial services they need, to fight poverty and build resilience. She noted that new data on mobile phone ownership and internet access show huge opportunities to drive digital financial Inclusion in Nigeria. She reiterated that this was in line with Ecobank’s vision which is to consolidate a modern pan-African bank and to contribute to the economic development and financial integration of the continent.
In her words “ there is no better time than now to harness the strength of our population, and support people to embrace the financial system. Financial inclusion for us at Ecobank means taking banking to the people wherever they are. Our agency banking, that is the Ecobank Xpress Points, for instance create a consumer experience which is very good, as the customers can do simple deposit, payment and transfers in their own neighbourhood rather than travel for hours to a bank branch. The aim of the Xpress Point is to let every Nigerian and household have access to Ecobank services within their neighborhood to provide easy banking services. This is the same objective for our mobile app and USSD platforms. We are desirous to put banking services at the finger tips of every citizen, no matter where they live”
Also speaking, Jude Ndu, Director Vanguard Conferences and The Economic Forum Series, says “as a follow up to the huge success of the Ecobank Agribusiness Summit, we are indeed pleased and delighted with the ongoing high level partnership with Ecobank Nigeria in the area of strategic thinking, conceptualisation and execution of high profile bespoke events. The upcoming Digital Financial Inclusion Virtual Summit speaks to the strong sense of confidence the bank has in us to help create content and context for the promotion and positioning of the brand given the strategic and thematic nature of conversation, marketing power and prowess of our thought leadership programs in critical stakeholder audience engagements across different industry sectors and customer segments”.
The Ecobank Digital Series is a virtual programme organised by Ecobank to educate and enlighten the public on crucial issues of public interest, especially as it relates to their financial freedom.
The Managing Director, Ecobank Nigeria, Patrick Akinwuntan has reiterated that Ecobank remains the gateway financial institution for African regional trade. Akinwuntan who was speaking at the Ecobank Digital Series virtual Africa Trade Conference 2020 titled: ‘Facilitating Regional Trade in the emerging AfCFTA Era’ maintained that Ecobank, the pan – African bank was set up to be the leader in intra-Africa trade, adding that leveraging on its knowledge, footprint and digital payment platforms, the bank is set to lead the financial services support for the new Africa Continental Free Trade Area.
According to him, “while intra Africa trade provides opportunity for the growth of our economy in Africa, Ecobank is ‘the go to bank’ for Africa regional trade”. He stressed that the Ecobank Regional Trade conference was designed to “primarily explore the massive trade opportunity before us in Africa, particularly after the pandemic. Ecobank decided to set the agenda for Africa to take its place in global trade. The opportunity is massive: withmarket size of 1.2 billion, estimated GDP of $2.5 billion, Africa free trade area is the largest since the formation of the World Trade Organization (WTO); more than 65 member states across the African union, population to reach 2.5 billion by 2050”.
lso speaking, Segun Awolowo, Executive Director/ Chief Executive, Nigeria Export Promotion Council (NEPC), said with a marketof 1.2 billion people and combined GDP of $3 trillion, there is huge potential for Nigeria to increase its export to Africa. According to him, most exports had been informal exports but with platforms, like Ecobank, it is going to be official and add real value to the economy. He said in 2018, the export value of Nigeria to Africa totaled around $6.99 billion but its export to the rest of the world totaled $45.92 billion. However, Nigeria export is majorly crude oil and natural gas which constitute 91%.
Speaking on “International trade, the pan African perspective”, Tei Konzi, Commissioner, Trade, customs and free movement, ECOWAS, represented by Kolawale Sofola, Acting Director, Trade ECOWAS said 85 % of our products go outside the continent and this must be changed. “We can bring these trade back to Africa and increase activity in the continent in agriculture, mining amongst others. We are yet to conclude our tariffs, but at the moment, ECOWAS trade more with outside countries than it does with African countries and this is why we are bent on making sure the AfCFTA succeeds”.
He noted that the AfCFTA is a comprehensive trade agreement that seeks to create a single market for goods and services and free movement of persons through the progressive liberation of the market for goods and services and also contribute to the movement of capital to facilitate investment. He said it is meant to be the foundation of continental customs union at a later stage.
The Ecobank Nigeria ‘Africa Trade Conference 2020’ which is part of the Ecobank Digital Series is to showcase Ecobank’s unique intra-Africa trade solutions that enable settlements of international transactions and mitigation of payment risk while providing regional solutions to exporters. Ecobank trade products and solutions are designed around two broad areas; trade finance and trade services. Trade Finance enables 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 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.
First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, today announced the appointment of Mrs. Oluwande Muoyo as a Non-Executive Director. Mrs. Muoyo joined the board of FirstBank from FBN Holdings Plc., the parent company of First Bank of Nigeria Limited.
Speaking on her appointment, Dr. Adesola Adeduntan, CEO, FirstBank said, “We are excited to welcome Mrs. Oluwande Muoyo to the FirstBank Board. She brings to the Board her depth of experience which spans over three decades in various leadership and strategic positions across the private and public sectors. I am assured that these rich experiences will have an immediate impact in the board which will transcend the activities of the Bank as a whole.”
“On behalf of the board, management and staff of FirstBank, I congratulate Mrs Muoyo and look forward to working with her,” he concluded.
Oluwande Muoyo was appointed to the Board of First Bank of Nigeria Limited in 2020. She is a Chartered Accountant, Banker and former Honourable Commissioner for Budget and Planning in Ogun State.
Prior to being appointed an Honourable Commissioner, Oluwande worked with Stanbic IBTC Bank for over 22 years in various parts of the bank, including Financial Control, Treasury and Financial Services, Trade Finance and Corporate Banking. She holds a BSc degree in Accounting from the University of Lagos. She started her professional career with the international firm Price Waterhouse (now PriceWaterhouseCoopers). A Fellow of both the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Taxation of Nigeria, Oluwande has, over the years, acquired competencies and skills in public financial management, policy formulation, business development, banking, budgeting, planning, auditing and taxation.
Her past Directorships include the Governing Board of the International Crop Research Institute for the Semi-Arid Tropics and FBN Holdings Plc. Oluwande has attended many training programmes including Strategic Marketing Management at Harvard Business School, Advanced Strategy at INSEAD and Advanced Management Programme at the Lagos Business School. Oluwande is married with children and enjoys reading and swimming.
Chief Executive /Executive Director, Nigeria Export Promotion Council (NEPC), Segun Awolowo has said with a market of 1.2 billion people and combined GDP of $3 trillion, there is huge potential for Nigeria to increase its export to Africa. According to him, most of exports had been informal exports, but with platforms like Ecobank, it is going to be formal and add real value to the economy. He said in 2018, the export value of Nigeria to Africa totaled around $6.99 billon but its export to the rest of the world totaled $45.92 billion. However, Nigeria’s export is majorly crude oil and natural gas which constitute 91%.
Mr. Awolowo, who was speaking at the Ecobank Digital Series virtual Africa Trade Conference 2020, revealed that using the international trade center export’s tool, NEPC has identified areas of untapped potential for Nigeria in Africa such as fertilizer, ginger and sesame, as these are what other African countries are buying. “Nigeria must, and can, live in a world where it no longer sells oil. Nigeria is working on key game changers in infrastructure in order to achieve this, especially in the area of ease of transportation and also in the area of incentives, export expansion grant like pre-shipment incentives and export development fund, which serve to prepare , facilitate and support exporters to the global market”. He stated
Speaking on “International trade, the pan African perspective”, Tei Konzi, Commissioner, Trade, Customs and Free Movement, ECOWAS, represented by Kolawole Sofola, Acting Director, Trade ECOWAS said 85% of our products go outside the continent and this must be changed. “We can bring these trade back to Africa and increase activity in the continent in agriculture, mining amongst others. We are yet to conclude our tariffs, but at the moment, ECOWAS trade more with outside countries than it does with African countries and this is why we are bent on making sure the AfCFTA succeeds”.
He noted that the AfCFTA is a comprehensive trade agreement that seek to create a single market for goods and services and free movement of persons through the progressive liberation of the market for goods and services and also contribute to the movement of capital to facilitate investment. He said it is meant to be the foundation of continental customs union at a later stage.
In his presentation, the Chief Executive Officer, Ecobank Transnational Incorporated (ETI), Ade Ayeyemi has reiterated that African countries must adopt a continent wide approach to business and also focus on wealth creation to be relevant in the global value chain. According to Ayeyemi for the African Continental Free Trade Agreement (AfCFTA) to become a reality there must be commitment and readiness for trade facilitation by the individual nations. He noted that African governments must unequivocal commit to the agreement and their preparedness as individual nations with their implementation strategies, commitment to free movement-signing and ratification of protocol on free movement of people and country’s Visa openness, readiness for trade facilitation – quality of trade infrastructure and efficiency of ports/Customs, which is still work in progress in nearly all countries.
Ayeyemi noted that Ecobank is fully committed to Africa as the foremost Pan-African Bank to Unequivocal support for the implementation of AfCFTA, readiness to use its unique pan-African platform to facilitate trade, payment and business and deployment of its strong Africa knowledge to support governments and businesses. The Ecobank CEO emphasized that “no country is so poor that it has nothing to give and no country is so rich that it has nothing to receive. All of us must come together to become better.”
The Ecobank virtual Nigeria ‘Africa Trade Conference 2020’ which is part of the Ecobank Digital Series is to showcase Ecobank’s unique intra-Africa trade solutions that enable settlements of international transactions and mitigation of payment risk while providing regional solutions to exporters. Ecobank trade products and solutions are designed around two broad areas; Trade Finance and Trade Services. Trade Finance enables 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 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.
First Bank of Nigeria Limited has announced its partnership with Arese Ugwu for the TV adaptation of her best seller, Smart Money Woman. The weekly show – in its first season – is billed to premiere on Africa Magic Showcase on Wednesday, 23rd September 2020 at 9:30pm.
The Smart Money Woman is a programme that shows the experiences, sacrifices, struggles and vigour of women in society as they carry out their day to day activities in spite of the gender imbalance in the society, especially in Africa. The series is an adaptation of Smart Money Woman written to tackle debt, providing tips on inculcating the right savings culture of the African middle class (why don’t we say – every individual – as against limiting to African middle class), the fear and misconceptions surrounding money and the lack of it, love, friendships, cultural and societal pressures and the roles they play in success.
The half hour 13-episode series which is directed by Bunmi Ajakaiye and Co-, produced by Kemi Lala Akindoju, Akin Marinho and Arcadia Tv Africa will have viewers exposed to financial literacy nuggets. Its cast include; Osas Ighodaro, Toni Tones, Ini Dima-Okojie, Eby Eno, Eso Okolocha, Timini Egbuson, Karibi Fubara, Tope Tedela, Seun Ajayi and Temisan Emmanuel.
According to Author and Executive Producer, Smart Tribe Media, Arese Ugwu; “The Smart Money Woman is a love letter to every modern and upwardly mobile African women who are exploring life opportunities and experiences to find that right balance in their day to day activities especially in their career, friendship, relationship and of course, family.”
“We thank First Bank of Nigeria Limited for being the first corporate sponsor to believe in my dream and take a chance on a first-time producer. This is a partnership we are pleased to reckon with, whilst we recognise how they have successfully empowered women across the geo-political zones in Nigeria through its various initiatives, especially the FirstGem product. They have provided mentoring, support and capacity building opportunities for all to create a new generation of financially literate women thereby contributing to the continued growth and development of the country.”
Speaking on the TV show, Folake Ani-Mumuney, the Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited said “FirstBank has been at the forefront of promoting female empowerment and we understand the role financial literacy plays in deepening financial inclusion, whilst promoting female independence. The essence of the TV programme is to raise financial awareness to inspire every individual in the society, especially women, to make informed choices and take effective actions for their financial wellbeing, she concluded.”
