With a view to enhance financial inclusion across the country, First Bank of Nigeria Limited has announced its drive to get up to 500,000 operators on board its agent banking platform. This was disclosed at the opening ceremony of the 12th Annual Conference of the Chartered Institute of Bankers of Nigeria (CIBN) by FirstBank’s Chief Executive Officer, Dr. Adesola Adeduntan, who also served as the Chairman of the CIBN 2019 Conference Consultative Committee. The event was held in Abuja on 24 – 25 September 2019.
The CIBN conference themed: “the future of the Nigerian banking industry – 360o” had Professor Yemi Osinbajo, Vice President, Federal Republic of Nigeria as the Special Guest of Honour.
In his remarks, the Bank’s CEO said FirstBank would support all efforts to ensure effective financial inclusion in Nigeria.
According to Adeduntan “we have a very ambitious plan to appoint about 500,000 agents across the nook and cranny of our country and to ensure that banking facilities and services are made available to all Nigerians.”
He noted that the banking sector in Nigeria remained the primary partner to the government with regards to economic growth and development in the country. “If we do not utilise those opportunities and mainstream them properly, the country and the entire economy will be left behind,” Adeduntan stated.
In 2017, FirstBank launched its agent banking network; ‘Firstmonie Agent’, described as its ‘Human ATM’. The Firstmonie Agents are empowered to extend access to finance to all Nigerians, regardless of where they may be across the country. The Firstmonie Agents complement the Bank’s effort at reducing the unbanked in the country, whilst providing a handful of the Bank’s bespoke financial services, including; account opening; cash deposit; airtime purchase; bills payment; withdrawals and money transfer.
According to the Bank, FirstMonie Agents are usually owners of small businesses within communities with limited or no banking penetration. The Bank has an Agent Banking strength of over 31,000 Agents, spread across 98% of the country’s 774 Local Government Areas (LGAs).
Professor Yemi Osinbajo, Vice President, Federal Republic of Nigeria (middle); Dr. Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited (right); Dr Uche Olowu, President, Chartered Institute of Bankers of Nigeria (second right); Otunba Debola Osibogun, Non-Executive Director, FBN Holdings Plc and former President, Chartered Institute of Bankers of Nigeria (third left); Mr. Abdullahi Ibrahim, Executive Director, Public Sector, First Bank of Nigeria Limited (second left); and Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited (left) at the CIBN 12th Annual Banking and Finance Conference held in Abuja.
It is the general declaration that human life is priceless and it is expected to be treated as such in every condition. This believe was also at the fore-front of governments’ order to both private and public hospitals that every effort must be put into use should anybody needs urgent treatment to preserve their lives. It is however sad that some supposedly big brands in the country are acting as if the life of some members of their staffs count for nothing.
This discussion was raise in Mushin axis of Lagos State recently and some traders and residents of the town pointed fingers of guilt at one of the leading banks in the country the Guaranty Trust Bank (GTB).
In their argument they claimed that years back, a vehicle belonging to the GTBank allegedly suffer break failure while in motion and in an effort to steer the car away from running into the pedestrians and the roadside traders along the ever busy Mushin/Oshodi road, the car ran into the median demarcating the road and in the process knocked down a pedestrian who was standing to cross to the other side killing the young man in the process.
They continued in their narrations that even while the driver who suffered broken leg and some other degree of injury that sees to him not being able to fend for himself and his family was still struggling to get out the money approved for him to pay for his medical expenses, the bank had made sure their car involved in the accident has been cleared and fixed for use.
Though going after such is not the main issue the speed at which they go about it according to the people was so fast and it seems they put so much value on the car even more than the driver whose condition they said cannot be ascertained as at that period. That incident has been years back now and the bank presently are not employing drivers on their own as such has been outsourced.
If one thinks that the story will be different now that the bank is not directly involved with their drivers now one may have to have a rethink.
The story now is like the Yoruba proverbial witch who had an all girl children, the condition of service of their drivers is suicidal. We were reliably informed that drivers attached to the bank are treated like they are expendable wares some drivers in the pool of the bank narrates how the nonchalant attitude of those in their transport department toward fixing the cars wherever it is faulty is generally responsible for nearly all incident of accidents involving GTBank drivers.
One of the two companies handling recruitment of drivers was given as Ademakinwa Ademiluyi & Co, though information available said FedEx Express has been added but that cannot be confirmed as at the moment we are writing this story. Insider revealed that Ninety-five percent (95%) of the drivers in the bank’s driver’s pool were employed through outsourcing and were prohibited from Union activities as this will contravene the contract signed by their respective employers with the bank.
We further gathered that there is also no provision for health insurance while all the cars they are driving are given premium insurance even though their fixed take home is Forty-Five Thousand naira (N45,000) with no pension plan or any form of gratuity not minding the years spent working for the bank.
It is even worse as the source also stated how faulty vehicles are after it has been reported are forced on the drivers without it being fixed, in a situation our source explained that a vehicle with bad break after it was reported was left unrectified for 4 months with the driver being forced to run errand with it all these while till it got involved in a crash.
With the condition of service which runs through 7 days a week, no pension plan, no health insurance scheme, no chance of becoming a permanent staff, abolishing of trade union activities among the drivers and many other deliberate shortcomings in the treatment of the drivers while all the cars they are driving are given premium insurance is invariably saying the cars to the bank holds more value than the human driving it and this may be the reason faults like that of the car breaking system are scarcely attended whenever such was reported to those in charge of that department in the bank.
One of the financial institutions in the country today, Keystone Bank has one of their top managers enmeshed in financial mess as the Economic and Financial Crimes Commission (EFCC), Lagos office, has arrested their AGM, Rowly Isioro and his wife Ovuomarhoni Naomi Isioro, a businesswoman, for their alleged involvement in Business Email Compromise, BEC, and money laundering.
A statement released by the commission on Monday, November 4th, says the couple were alleged to have laundered the total sum of One Million and Forty-nine Thousand Dollars ($1.49m) or N0.5 billion which was allegedly transferred to Ovuomarhoni Naomi’s bank account in Nigeria. Their arrest followed a petition received by the Commission from the Federal Bureau of Investigation, FBI, through the office of their Legal Attache, United States Consulate Victoria Island Lagos, about their alleged involvement in computer related fraud, stealing and money laundering.
The EFCC in its usual fashion had withheld the name of the bank involved in the story, however checks by The Herald NG showed that Rowly has been under the employ of Keystone bank for 11 years and 3 months. His professional profile on social media show he is still an employee of the bank as the Head of the South Directorate. According to his profile, he is responsible for all business segments (Commercial, Retail, Corporate, Public Sector) in 11 (eleven) states in Nigeria – Rivers, Bayelsa, Cross River, Akwa Ibom, Delta, Edo, Anambra, Imo, Enugu, Abia and Ebonyi.
His professional profile also reads, “Rowly is a Chartered Banker and a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) with over 20 years of banking experience. As a trade and transaction banking specialist with working knowledge in 15 African countries, he has played an important role in growing trade in various African markets and attracting foreign investments into Africa. He has held senior management positions in leading banks in Nigeria and has presented several papers internationally and locally.
“He is currently the Head of South Directorate at Keystone Bank Limited with responsibility for all business segments. Prior to now, he was the Divisional Head, International Banking with specific mandate for delivering trade and transaction banking solutions in the 5 countries where the bank is physically present – Nigeria, Uganda, Liberia, Sierra Leone and The Gambia. He had worked at United Bank for Africa (UBA) as the Head of Global Financial Institutions with responsibility for selling and delivering treasury, cash and trade products across Africa as well as developing and managing correspondent banking relationships between UBA New York and local banks in 15 African countries. He was also responsible for relationships with Export Credit Agencies (ECAs), and Development Finance Institutions (DFIs).
He started his banking career at FBN (Merchant Bankers) Ltd and later worked at FSB International Bank Plc, New Nigeria Bank Plc, and Access Bank Plc. His exposure also includes Commercial Banking/Branch Management, Domestic/Treasury Operations, International Operations, Internal Control and Audit. He holds a B.Sc Degree in Accountancy (Second Class Upper Division) from the University of Nigeria, Nsukka and has attended various international courses, seminars, conferences and workshops on Structured Trade & Commodity Finance, Risk Management, Trade Sales, Transaction Banking, Personal Development, Team Building and Leadership. He is married and blessed with three children.
Pan African financial institution, United Bank for Africa (UBA) have announced that it is committed to continued investment in cutting edge technology for efficient and improved service delivery to its customers and by extension the business community.
The Chief Executive Officer, UBA Africa, Victor Osadolor, made the disclosure during a well-attended flag off ceremony of the 2019 Lagos International Trade Fair (LITF), in which UBA is the headline sponsor. The event, which held at the Tafawa Balewa Square, had in attendance distinguished guests, including the Deputy Governor, of Lagos State, Mr. Obafemi Hamzat; President, Lagos Chamber of Commerce and Industry, Babatunde Paul Ruwase; Minister of State for Industry, Trade and Investment, Hajia Mariam Katagum; Commissioner for Commerce, Industry and Cooperatives, Lagos State, Lola Akande amongst others, Special Adviser to Lagos State Governor on Commerce, Industry, and cooperatives, Ajayi Oladele, among others.
Osadolor used the occasion to launch another first of its kind in Nigeria’s financial sector, from UBA, called self-printing debit card machine, targeted at encouraging increased use of debit cards which also offers more options to pay.
The new self-printing debit card machine will allow for seamless business transactions with great value to customers and businesses.
He stated that that there is no gain saying that the world is tilting into a knowledge based economy, adding that businesses that would survive in the 21st century must invest in technology to remain competitive.
He also commended the federal government’s efforts at improving the nation’s investment climate, saying this is the reason the country is currently ranked fifteen place upwards in the global ease of doing business index.
He also added that the bank would continue to support initiatives aimed at boosting trade in the country.
On delivery of its brand promise, he said, “We are creating superior value for all our customers, because we believe they are key to our everyday operations.”
He further said, the bank’s small and medium scale enterprise banking unit has been actively supporting small businesses with
industry-specific loans that ensure maximum impact.
According to Osadolor, UBA also keys into government intervention funds to expand access to credit facilities at competitive interest rates, while providing services such as advisory and technological infrastructure that help to reduce the cost of doing business.
“Most of our customers have enjoyed free advisory services that have helped them navigate the very difficult business terrain. We also have businesses, latching on to our technological assets to improve their services as well as foster growth”
Osadolor restated UBA’s commitment to continue investing heavily in technology to remain a pillar to millions of businesses that have not only chosen to bank with UBA, but have also partnered the bank for growth.
“We are consistently supporting our SMES. We have a huge amount of funds allocated to SMEs. UBA is committed to supporting entrepreneurship. We are the major promoter of the Fair. The new self-printing debit card machine will go along way in allowing for seamless business transactions with attendant value to businesses.
He stated that: “At UBA, we are committed to being role models for African businesses by creating superior value for all the stakeholders. Therefore we have over the years recorded increased growth”.
Earlier, the Governor of Lagos State, Babajide Sanwo-Olu, represented by the Deputy Governor, Lagos State, Dr. Obafemi Hamzat, said the State’s commitment to promoting and connecting businesses across transnational borders, remains strong and unshaken.
“We shall leave no stone unturned to ensure that Lagos State truly becomes a 21st century economy which actively supports the growth of the local economy through improved ease of doing business initiatives, innovative incentives and interventions as well as quality service delivery to a well-motivated public,” he said.
On his part, the President of LCCI, Mr. Babatunde Ruwase said the theme of this year’s fair underscores the importance of a robust business interaction to generate wealth and create value for the advancement of the Nigerian economy and the welfare of the citizens.
Ruwase said, “Creating a platform to promote trade and bilateral relations is of utmost importance to the LCCI.
“In UBA, we have chosen a suitable partner with extensive reach on the continent with capacity to engineer a seamless financial transaction required for an international trade fair of this magnitude,” he said.
Speaking further on the partnership with UBA, he said: “The LCCI and UBA have partnered to give exciting services to visitors and exhibitors at the fair.
UBA is a foremost Pan African financial institution operating in 20 African countries, including the United Kingdom, the USA and France, thus offering unique services to the delight of visitors and exhibitors during the fair. This tells you that, we are more than committed to ensuring the business environment is beneficial for all investors.
“As a policy advocacy group, our programmes and activities are geared towards facilitating the realisation of the economic and social objectives of the government and making Nigeria an attractive destination for investment.
“Our economic and investment policies must be friendly to make Nigeria a major investment hub in Africa. “
He said Nigeria needs the right policies as well as a strong commitment to infrastructure development that will help revive investors’ confidence in its economy.
Nigeria is at the threshold of the much-needed agricultural revolution, as food production remains a significant challenge all over the world, hence whilst, Heritage Bank Plc is forming alliance to further create formidable partnership arrangements with Sumitomo Corporation that will lead to impactful agribusiness within the segments of the agricultural value chain.
This relationship that is focused on mechanisation and agribusiness will complement the efforts of the Central Bank of Nigeria’s (CBN) to fast track development of the agricultural sector and enhance national food security.
L-R: John Gbassa, CEO/MD of WAO Global Trading Ltd; Koji Shirotani, Divisional Manager, Sub-Sahara Africa Business Development Division; Afolasade Alonge, Divisional Head, Corporate and Specialized Banking, Heritage Bank Plc; Masafumi Tanimoto, General Manager, Accra Liason Office; Tsuyoshi Ueda, Assistant Managing Director; Jude Monye, Executive Director of Heritage Bank; Olugbenga Awe, Divisional Head, Agric Finance & Export and Takuya Yamamoto, General Manager, Middle East & Africa, Sumitomo Corporation, during discussion between the Heritage Bank and Sumitomo Corporation on mechanisation & Agric Business, held at bank’s head office, weekend
Founder of the Tony Elumelu Foundation (TEF) and Chairman, United Bank for Africa (UBA) and Heirs Holdings opened the “Ambition Africa” conference organised by the France Invest Africa Club in Paris, France.
As Elumelu delivered the opening address, he urged French investors to look to Africa for long term investment opportunities.
The French Minister of Economy and Finance, Bruno Le Maire, as he introduced Tony Elumelu to the audience stated that France could position itself and direct investment towards Africa to end the cycle of poverty and to accelerate development globally. He commended Elumelu’s stance on strengthening the SMEs in Africa to catalyse development. “We share the same ambition in Supporting African SMEs and entrepreneurs as this is essential for the economic development of Africa,” he said, referring to Elumelu’s passion to create wealth on the African continent.
Reiterating the stance to partner with Africa on long-term investments, Mr. Le Maire said “We will ensure that investments in Africa are sustainable, exemplary and environmentally friendly. We want to go fast, go quickly in the race against poverty and renunciation, throughout the continent”.
Tony Elumelu on his part stated “We need to do much better and be much smarter in channelling funds to emerging markets. These markets present huge opportunities – as well as risks for investors, but investors need to fulfil a critical need to catalyse and improve the economy. We salute companies like Total, Bouygues, Accor, Orange, and Bolloré as well as others who have accepted this challenge, but there is room for many more” he said.
Elumelu stressed the importance of private equity inflow into Africa, with a focus on investing in small and medium scale businesses, the lifeblood of the African economy. He stated that Africa has the youngest workforce in the world, with over 60% of its population below the age of 25. This he said was a potential demographic doom that could be turned around to become the continent’s greatest asset if the youths have jobs and economic opportunities.
According to him: “Africans do not need aid. Rather, our young people need investments’.
“Private equity is a force for positive development in Africa. We have a large youth population, who are eager and innovative. They are looking at solutions to problems in their communities but are hampered by the access to capital and investment, mentoring and training. When done right, this kind of investment can bring not just capital but can also strengthen job creation, corporate governance and help improve sustainable business practices”.
He cited the impact and growth rate of the beneficiaries of the Tony Elumelu Foundation as evidence of the potential of SMEs in Africa today. His Foundation has endowed $100 million dollars of his family wealth, to fund over 10000 African entrepreneurs in ten years.
Mr. Elumelu commended The French President, Emmanuel Macron’s initiatives for strengthening the relationship between France and Africa and concluded by inviting investors to consider investing in Africa for the long term.
“The key phrase here is long term investment – no one should come to Africa for short term gain. The time is now to invest in Africa. Private equity has to be part of it. We need it for all,” he concluded.
Following the success of the maiden edition, Nigeria’s leading financial institution, Zenith Bank Plc is set to ignite Lagos with the second edition of its highly anticipated Lifestyle Fair, “Style by Zenith 2.0”, which holds from Friday, November 29 to Sunday, December 1, 2019.
First launched in 2018, the “Style by Zenith 2.0” initiative, which was created with the objective of supporting and creating value for customers by focusing on various aspects of their lifestyle, will hold at the Eko Energy City, Eko Atlantic, Victoria Island, Lagos.
This year, “Style by Zenith 2.0” takes things up a notch with the theme, “Style the Life you Desire”, aimed at encouraging Nigerians to live their best lives and be extraordinary.
“Style by Zenith 2.0” caps a year of all-encompassing customer lifestyle engagements by Zenith Bank through events such as the Aspire Music Festival, a musical concert for millennials held in Lagos in September and the Aba SME Fair organised for SMEs in the Aba Fashion Market, Abia State last month. This is in addition to the Light-Up Ceremony of the yuletide decorations on Ajose Adeogun Street, Victoria Island coming up by the second week of this month.
The three-day fair has an interesting line up of activities including runway modelling by leading Nigerian and international models accessorized by top designers, modelling masterclasses, exhibition of lifestyle, beauty, health & fitness products, food and drinks, games arcade for both children and adults as well as musical concert featuring Nigeria’s biggest artistes.
Fashion One, the leading global fashion and lifestyle channel will once again be working with Zenith Bank on the “Style by Zenith 2.0” initiative.
Attendance at the fair is free for everyone. However, the music concert is exclusively reserved for Zenith Bank customers, although non-Zenith customers can still attend the concerts by simply opening a Zenith Bank account and registering to attend at www.zenithbank.com/style.
Zenith Bank Plc is recognized as one of the most innovative financial institutions in Nigeria and was voted the most customer-focused bank in Nigeria for the Retail and SME segments in the 2018 KPMG Annual Banking Industry Customer Satisfaction Survey (BICSS).
International oil companies and their local counterparts under the aegis of the Oil Producers Trade Section have said the Federal Government’s planned increase in deepwater royalty will worsen Nigeria’s competitiveness and make its $15bn planned deepwater investments economically unviable.
The OPTS, a private industry group under the umbrella of the Lagos Chamber of Commerce and Industry, also said the move would result in an estimated 20 per cent decline in deepwater oil production by 2023.
The House of Representatives on Tuesday concurred with the Senate by passing a bill amending the Deep Offshore and Inland Basin Production Sharing Contract Act 2004.
The Federal Government, in its 2019 approved budget public presentation, had said it was targeting N320bn from the revision of the PSC legislation/terms this year.
The nation’s oil and gas production structure is majorly split between joint ventures onshore and in shallow water with foreign and local companies and the PSCs in deepwater offshore, to which many IOCs have shifted their focus in recent years.
Under the PSCs, the Nigerian National Petroleum Corporation holds the concessions, and the contractors fund the development of the deepwater offshore blocks and recover their costs from the production after royalty payments.
The NNPC had said in 2016 that it was reviewing existing PSCs “to negotiate more favourable terms and improve the revenue base of the federation.”
The OPTS, in its presentation to the Senate obtained by our correspondent, said the proposed unilateral change to the current terms would damage investor confidence and make the country’s deepwater and inland basin PSC less attractive in the wake of stiffening global competition for investable funds.
According to the group, the Deep Offshore and Inland Basin Production Sharing Contracts (Amendment) Bill seeks to introduce an additional price-based royalty on revenues above $35 per barrel, which ranges from 0.2 per cent to 29 per cent as the oil price increases.
It said, “This is in addition to the existing water depth-based royalty. Furthermore, the industry is burdened by a plethora of other taxes, fees, levies and other tariffs.
“This rate increase would result in future deepwater projects becoming economically unviable and leading to at least a $15bn reduction in planned near-term investments.”
According to the group, Nigeria has one of the least competitive deepwater fiscal terms in Africa and is currently losing substantial amount of potential investments in the oil and gas industry to other countries, particularly Mozambique, Angola and Ghana.
“In the last decade, the Nigerian oil industry has been able to start up production of only three new deepwater projects – Usan, Aje and Egina. Other African countries with less hydrocarbon potential have attracted significantly more investments than Nigeria because they offer more attractive deepwater fiscal terms that encourage investment,” it said.
The OPTS noted that deepwater PSC development had been a major contributor to the Nigerian petroleum industry, the economy and government revenue.
According to the group, deepwater PSCs currently account for about 40 per cent of Nigeria’s oil production, rising from zero in 2004 to about 780,000 barrels of oil equivalent per day.
Heritage Bank Plc has said it will continue to lend support to causes that promote women empowerment as this will impact positively on the nation’s socio-economic development.
Managing Director, Heritage Bank, Ifie Sekibo, stated this at the “Raising Girls Summit ‘19” which held in Lagos last Friday as part of activities to commemorate the International day of the Girl-Child.
Sekibo, who was represented at the event by the Regional Executive, Lagos & South-West, Heritage Bank, Dike Dimiri, disclosed that the lender sponsored the “Raising Girls Summit ‘19” because as he put it: “At Heritage Bank, we are committed to anything that represents women empowerment.”
According to him, the Bank has been in the vanguard of promoting financial literacy and financial inclusion especially among women because it believes that this is key for advancement in today’s dynamic world.
He said: “If we can start promoting financial inclusion especially among the girl child, then we can stand a better chance of having our children growing up to help build a strong financial system. Heritage Bank has been in the fore front of trying to ensure that financial inclusion is not just for adults but for children and more so at a very early age.”
Sekibo, who noted that Heritage Bank actively participates in financial literacy programme organised by the Central Bank of Nigeria (CBN) in different parts of the country every year, assured organizers of “Raising Girls Summit ‘19” of Heritage Bank’s continuous support
It is also aimed at influencing social change and policies to ensure the better life and the future prospect of girls in Africa.
In her remarks at the event, the Green Girl Company Limited CEO, Dr. May Ikeora, thanked Heritage Bank for its support for the summit, adding that with the lender’s support, the organisation was making valuable contribution to Nigeria and the world.
She advised young girls not to focus on what society can do for them, but on what they can contribute to the society.
Also speaking at the event, a former “Miss Nigeria”, Helen Prest-Ajayi, stated that if the girl-child is better educated, the country would be a better place for all Nigerians.
L-R: Fidelis Anosike, Chairman Folio Group; Dike Dimiri, Regional Manager, Lagos and South West, Heritage Bank and May Ikeora, Green Girl Company Limited, during the “Raising Girls Summit “19” which held in Lagos, sponsored by Heritage Bank, as part of activities to commemorate the International day of the Girl-Child.
The Group Board Chairman of FBN Holdings Plc, Dr. Oba Otudeko CFR and Directors of FBN Holdings, FirstBank of Nigeria Limited and FBNBank Ghana Limited have paid a courtesy call on the President of the Republic of Ghana, Nana Addo Dankwa-Akufo-Addo in Accra.
The visit was to show appreciation to the President and thank him for participating in First Bank of Nigeria Limited’s 125th anniversary activities held earlier this year and update the President of some recent investment activities of the Group.
Dr. Otudeko assured President Akufo-Addo that FBNHoldings believes in the Ghanaian economy and indicated that it was evidenced by the recapitalization of FBNBank Ghana by its parent bank, First Bank of Nigeria Limited. He pointed out that the Group’s investment of US$100 million was well above the new minimum capital requirement set by the Bank of Ghana into its Ghana operation.
The FBNHoldings Group Board Chairman added that the bank’s confidence in the Ghanaian economy and the talent of Ghanaians had resulted in the appointment of Victor Yaw Asante as the first Ghanaian Managing Director of FBNBank Ghana Limited.
Dr. Otudeko lauded the President of Ghana for giving the youth opportunities to serve in his government, saying it will prepare them to take over the leadership of Ghana in the near future. He congratulated the President on the choice of Ghana as host of the Africa Continental Free Trade Agreement, saying that it must have taken significant effort to bring this to Ghana.
President Nana Addo Dankwa Akufo-Addo thanked Dr. Otudeko for his kind words and recounted the crucial bilateral and economic ties as well as historic bond, pre and post-independence, that exist between Ghana and Nigeria.
While stating that it is important for the economies of both Ghana and Nigeria to do well for ECOWAS to succeed, the President thanked FBN Holdings Plc for investing in Ghana and gave the assurance that government will provide the necessary support to FBNBank Ghana Limited and the entire business community.
The President also touched on the banking sector reforms and observed that Nigeria also had to embark on a similar exercise in the recent past. He said it was a painful but necessary exercise to strengthen the financial services industry and position it to support business and the economy.
President Akufo-Addo emphasized the importance of providing opportunities to the youth to enable them support the nation’s growth and development agenda and the need for all citizens of the two countries to find avenues to give back to their nations.
Members of the delegation pledged, on behalf of FBN Holdings Plc and FBNBank Ghana, their commitment to helping build a stronger Ghanaian economy, as well as forging stronger economic ties between citizens and businesses of Ghana and Nigeria.
The FBNHoldings Group Board Chairman, Dr. Oba Otudeko, CFR, was accompanied by Mrs. Ibukun Awosika, Chairman, Board of Directors, First Bank of Nigeria Limited; Mr. U. K. Eke, MFR, Group Managing Director, FBN Holdings Plc.; Dr. Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria Limited; Otunba (Mrs.) Debola Osibogun, Non-Executive Director, FBNHoldings; Dr. Hamza Wuro Bokki, Non-Executive Director, FBN Holdings, and Mr. Victor Yaw Asante, Managing Director, FBNBank Ghana Limited.
FBN Holdings Plc is the most diversified financial services group in Nigeria and includes FirstBank of Nigeria Ltd the mother company of FBNBank Ghana and other subsidiaries around the world.
