Business
VICE PRESIDENT OSINBAJO LAUDS CIBN FOR ITS CONTRIBUTION TO THE GROWTH OF THE NIGERIAN BANKING SECTOR March 5, 2021:
AJAGBE ADEYEMI TESLIM
Sponsored by: H&H
Dr. Bayo Olugbemi, President/Chairman of Council, The Chartered Institute of Bankers of Nigeria; His Excellency, Prof Yemi Osinbajo, Vice President, Federal Republic of Nigeria; Mrs. Patience Oniha, Director General, Debt Management Office Nigeria and Dr. ‘Seye Awojobi, Registrar/CEO, CIBN during the official commissioning of the Bankers House, Abuja yesterday.
The Vice President Yemi Osinbajo has lauded the Chartered Institute of Bankers of Nigeria for its contribution to the growth of the Nigerian banking sector, the private sector and for the establishment of the Bankers House Abuja.
Speaking at the commission of the new Bankers’ House in Abuja on Thursday, Osinbajo noted that the banking industry contributed about N34.6 trillion to the country’s Gross Domestic Product (GDP) in 2017.
The vice-president added that the industry also contributed N37.8 trillion in 2018, N42.7 trillion in 2019 and N53.3 trillion in 2020.
He added that “the CIBN’s role in the private sector cannot be overstated. In laying the parameters for professional and ethical conduct, healthy competition, and continuous professional development, it has helped to guide the evolution of a banking industry that has grown to become the envy of the continent.”
The Vice President Yemi Osinbajo also said that Nigeria’s fintech startups accounted for 35 percent of the total of $4 billion capital raised by technology driven businesses across the continent in 2021.
He stated that the country has six unicons, tech companies valued at over $ 1billion, noting that all the companies “started after 2015, and have grown between two recessions.” “In 2021 African tech startups raised over $4 billion in funding, with over 564 startups across the continent solving critical problems in almost every sector.
Nigeria accounted for 35 percent of this. “This is why we put such great premium on the resourcefulness and strength of our private sector.” In his opening address, Dr. Bayo Olugbemi said the new edifice being commissioned represents a captivating story of utmost significance, in that the attainment of this feat is a fulfillment of a dream long conceived.
Going down the memory lane, the CIBN president said when the seat of government moved to Abuja in 1991, the Institute became desirous of establishing its presence at the FCT.
“Since then, several attempts were made at acquiring land or landed properties in the FCT but the efforts were frustrated by disputes on the various properties especially those statutorily allocated to the Institute.
“Not discouraged by these challenges, the Institute doggedly forged ahead in its quest for a presence in the FCT.
The result of the various initiatives that were engaged is what culminated in the purchase and development of the edifice we are commissioning this morning, ”Olugbemi said.
According to him, the new Bankers house will house The Chartered Institute of Bankers of Nigeria, National Secretariat Annex Abuja Office and the Permanent Secretariat of the Alliance of African Institute of Bankers (AAIOB), a Body which has been in existence for about Twenty-five years; developing and promoting acceptable banking and finance education, examinations and certification standards among its members on the African Continent.
He said the building which will be equipped with state-of-the-art ICT facilities will feature a Learning/Incubation hub, a banking hall, multi-purpose hall and a training facility sponsored by Nigeria Deposit Insurance Corporation (NDIC) which will be available for use by various organisations for the training of their staff.
“Spaces are available for branding, and I want to call on the banks and other corporate bodies to pick up available spaces to project their brands,” he said.
Olugbemi said on the Global space, the Institute is taking fontline position in advancing and developing the banking and finance profession with its role in the Global Banking Education Standards Board (GBEStB) where a Past President of the Institute, Segun Aina is the pioneer and current Chairman of the global body.
Bearing in mind that, Olugbemi said the future belongs to the young generation, the Institute has embarked on a Mentoring scheme to help young professionals get career mentorship from more senior and experienced professionals towards ensuring the safety, soundness, and sustainability of the banking industry in Nigeria and beyond.
In his intervention, the Chairman, Bankers’ House, Abuja Implementation Committee & Chairman, UBA Plc, Tony Elumelu, said that the inauguration of the building was a dream come true’.
Elumelu who was ably represented by Mr Emmanuel Nnorom, Chief Executive Officer, Heirs Holdings, paid N25 million for a branding hall of United Bank for Africa (UBA) in the building.
Group Chief Executive Officer, Nigerian Exchange Group Plc, Mr Oscar Onyema, Director General, Debt Management, Mrs. Patience Oniha; ICAN President, Mrs. Comfort Eyitayo said that their organisation would continue to collaborate with CIBN to improve the financial system in the country. The event attracted chief executive officers of various banks, members of National Assembly and other stakeholders in the financial sector.
Business
Fidelity Bank Supports Modupe Cole Memorial School, Lagos
Fidelity Bank Supports Modupe Cole Memorial School, Lagos
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
In continuation of its drive to alleviate the impact of economic hardship and suffering among indigent Nigerians, Fidelity Bank Plc recently donated food items to Modupe Cole Memorial Childcare and Treatment Home School in Akoka, Lagos.
CAPTION:
L- R. Tolulope Rojaiye, Team Member, Brand and Communications, Fidelity Bank Plc; Osho Olufunmilayo Bamidele, Vice Principal 2, Modupe Cole Memorial Childcare and Treatment Home School; and Victoria Mbonu, Class President, Intellect Nexus Inductee Class, Fidelity Bank Plc; during a Corporate Social Responsibility (CSR) donation event executed by Fidelity Bank at Modupe Cole Memorial Childcare and Treatment Home School, Akoka, Lagos recently.
The donation which aligns with the Bank’s Corporate Social Responsibility (CSR) pillars of education and health, was championed by the Intellect Nexus Class of 2024 under the Fidelity Helping Hands Program (FHHP). Through this initiative, Fidelity Bank staff identify community needs, raise funds to address them, and receive matching support from the bank to implement impactful projects.
Explaining the bank’s commitment to supporting its host communities, the Divisional Head, Brand and Communications Division, Fidelity Bank Plc, Dr. Meksley Nwagboh, noted that, “At Fidelity Bank, we recognise the symbiotic relationship we have with the communities where we operate. This informs our decision to not only provide our host communities with relevant financial services but to also impact them with developmental projects.
“We are inspired by the great work being done here at Modupe Cole Home School and our donation is a small token of appreciation for this as we aim to support the well-being of these exceptional children.”
On his part, the Vice Principal of the school, Mr. Isiaka Ajani, expressed gratitude for the bank’s consistent support noting that Fidelity Bank’s gesture is a huge encouragement to the school.
“We say thank you for the gift items that you have brought to us today, and this shows that we are not alone in the mission to provide care and education to children with special needs.
“This institution is a testament to the belief that there is ability in disability. We have children here who have passed common entrance examinations and gained admission into higher institutions despite their challenges. It is our mission to help them achieve their potential.
“The school had made effort to provide academic and vocational training programs in bead-making and hairdressing, and specialized care for residents with severe disabilities for its 476 residents, many of whom have been abandoned by their families.” He stated.
Fidelity Bank is a full-fledged customer commercial bank with over 8.3 million customers serviced across its 255 business offices in Nigeria and the United Kingdom as well as on digital banking channels.
The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.
Business
Access Bank to Host Pioneering Africa Trade Conference in Cape Town
Access Bank to Host Pioneering Africa Trade Conference in Cape Town
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Access Bank PLC is set to host its first-ever Africa Trade Conference (ATC), a landmark event focused on advancing Africa’s economic transformation under the theme, ‘Empowering Africa Through Trade, Innovation, and Sustainable Growth’. Scheduled for March 12, 2025, in Cape Town, South Africa, the conference is poised to bring together the most influential voices in trade, finance, and policy to address the future of commerce across the continent.
With Africa’s trade finance gap estimated at $81 billion annually, the conference aims to tackle the systemic challenges hindering trade, particularly for SMEs and domestic firms. By fostering collaboration among key stakeholders, the Conference will explore innovative solutions, sustainable trade practices, and strategies for expanding African economies into global value chains.
Roosevelt Ogbonna, Group Managing Director/Chief Executive Officer, Access Bank PLC, emphasised the importance of the Africa Trade Conference, in addressing these pressing issues. “The Africa Trade Conference represents a crucial step in redefining Africa’s trade potential. By creating platforms for dialogue, innovation, and actionable solutions, Access Bank is enabling African businesses to connect and thrive in the global economy.”
Access Bank’s presence across 24 countries globally, including 16 in Africa, provides a unique advantage in facilitating inter- and intra-African trade. The Bank’s growing network positions it as a key player in addressing trade complexities and promoting inclusive growth across the continent.
Seyi Kumapayi, Executive Director, African Subsidiaries, Access Bank, highlighted the broader vision of the forum, saying, “The Africa Trade Conference is a platform to not only address Africa’s trade challenges, but to champion the continent’s opportunities. Through strategic partnerships, tailored financial solutions, built on the ethos of sustainability, we are paving the way for Africa’s businesses to take their place on the global stage.”
This flagship event will convene a distinguished line-up of seasoned speakers, and top executives from leading international banks, Development Finance Institutions (DFIs), and captains of industry in Africa.
The ATC will also shine a spotlight on the transformative potential of the Africa Continental Free Trade Area (AfCFTA), which aims to reduce trade barriers, enhance infrastructure, and integrate African economies into global trade networks.
Furthermore, the event will explore critical themes shaping the continent’s economic future, including the transformative role of digitisation and innovation in global trade, solutions for overcoming trade barriers to enhance market access, as well as sustainable trade practices and innovative financing models, thereby providing a comprehensive roadmap for advancing Africa’s position in global commerce. Please visit https://africatradeconference.accessbankplc.com/ for more information.
Business
Union Bank Rewards 360 Customers with N21 Million in First Save and Win Palli Promo 4 Draw
Union Bank Rewards 360 Customers with N21 Million in First Save and Win Palli Promo 4 Draw
AJAGBE ADEYEMI TESLIM
SPONSORED BY: H&H
Union Bank, Nigeria’s leading financial institution, has kicked off its Save and Win Palli Promo 4campaign on a high note following the announcement of its first set of winners in its inaugural monthly draws.
The first live draw of this season, which took place at the Bank’s Head Office in Marina, Lagos, rewarded 60 customers with ₦100,000 each. Additionally, 300 other winners went home with ₦50,000 worth of gift vouchers during the inaugural live draw, which was conducted transparently and digitally under the supervision of relevant regulatory bodies. The winners cut across the nation.
Speaking at the first monthly draw, Gloria Omereonye, Union Bank’s Area Business Executive for Lagos Island 1, stated, “Union Bank is always dedicated to rewarding customers for their loyalty and financial discipline.
We are pleased that our promo has continued to achieve its noble goals of providing succour to our customers through our gifts and rewards, especially in these economically trying times, while facilitating a sustainable savings culture for future goals and objectives.”
Save & Win Palli Promo is a nationwide campaign designed to reward both new and existing customers with cash prizes. Season 4, which began in December 2024 and runs until May 2025, offers customers the opportunity to win ₦131 million in cash prizes, Motorcycles, Tricycles, Fuel Vouchers, and a star prize of ₦5 million, which will be handed out to three lucky winners at the grand finale.
Open to new and existing customers, the Save and Win Palli Promo requires participants to save a minimum of ₦10,000 and perform a minimum of five transactions monthly to qualify for draws. Monthly winners can receive ₦100,000, while quarterly draws will reward lucky savers with Motorcycles, Tricycles, and other exciting prizes.
Customers who save in multiples of ₦10,000 will increase their chances of winning.
New customers can join the promo by downloading the UnionMobile app to open an account or visiting any Union Bank branch.
Existing customers can reactivate accounts by calling the 24-hour Contact Centre at 07007007000 or visiting a branch.
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