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FIRSTBANK secures $150 million Afreximbank Pandemic Trade Impact Mitigation Facility (PATIMFA) to support businesses in Nigeria

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Sponsored by: H&H

African Export Import Bank (Afreximbank) has announced the disbursement of a US$150 million finance facility to First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider. The funding was provided under Afreximbank’s Pandemic Trade Impact Mitigation Facility (PATIMFA).


Afreximbank’s US$150 million financial support will be accessible to FirstBank customers that are involved in the manufacturing and importation of products and equipment required to combat the COVID-19 pandemic, as well as initiatives to rehabilitate hospitals and strengthen diagnostic and testing capacity.

The loan will also be used for the financing of trade debt payments falling due to avert payment defaults in trade debt obligations. In addition, proceeds of the facility will help beneficiary businesses manage the impacts of the Ukraine crisis.


Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, commented: “This new disbursement under PATIMFA is a further proof of the relevance of the programme in helping African economies to recover from the crisis induced by the COVID-19 pandemic.

Since April 2020, when PATIMFA was launched, we are more than proud to have disbursed more than US$7 billion to help Afreximbank member countries manage the adverse impact of the financial, economic and health shocks caused by the COVID-19 pandemic.

Through First Bank, one of our trade finance intermediaries, this $150 million facility will help build the resilience of many businesses to the adverse impacts of the pandemic, while helping them overcome the consequences of the current Ukraine crisis.”


Also expressing his delight in the partnership, Dr. Adesola Adeduntan, FirstBank’s CEO, said: “We commend Afreximbank for this impactful financial response. It will immensely contribute to empowering many businesses adversely impacted by the economic shocks caused by Covid-19.

The selection of FirstBank as a partner in this initiative is a testament to their confidence in our capacity and proven track record over the years.


As a Bank that has been woven into the fabric of our society for over 128 years, we remain committed to the success of businesses in our host communities and ensuring they are given the needed boost to sustain their operations and further drive economic growth in the nation.”, he concluded

About Afreximbank
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade.

Afreximbank deploys innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa.

A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Afreximbank is working with the AU and the AfCFTA Secretariat to develop an Adjustment Facility to support countries in effectively participating in the AfCFTA.

At the end of 2021, the Bank’s total assets and guarantees stood at about US$25 billion, and its shareholder funds amounted to US$4 billion. Afreximbank disbursed more than US$51 billion between 2016 and 2021.

The Bank has ratings assigned by GCR (international scale) (A-), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). The Bank is headquartered in Cairo, Egypt.
About First Bank of Nigeria Limited
First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading financial inclusion services provider in Nigeria for over 128 years.


With over 750 business locations and over 150,000 Banking Agents spread across 99% of the 774 Local Government Areas in Nigeria, FirstBank provides a comprehensive range of retail and corporate financial services to serve its over 30 million customers.

The Bank has an international presence through its subsidiaries, FBNBank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing.


The Bank has been handy at promoting digital payment in the country and has issued over 10million cards, the first bank to achieve such a milestone in the country. FirstBank’s cashless transaction drive extends to having more than 10million people on its USSD Quick Banking service through the nationally renowned *894# Banking code and over 4.5 million people on FirstMobile platform.


Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes.

With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.


FirstBank has been named “Most Valuable Bank Brand in Nigeria” six times in a row (2011 – 2016) by the globally renowned “The Banker Magazine” of the Financial Times Group; “Best Retail Bank in Nigeria” for seven consecutive years (2011 – 2017) by the Asian Banker International Excellence in Retail Financial Services Awards and “Best Bank in Nigeria” by Global Finance for 15 years.

Our brand purpose is always to put customers, partners and stakeholders at the heart of our business, even as we standardise customer experience and excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision “To be the partner of the first choice in building your future”.

Our brand promise is always to deliver the ultimate “gold standard” of value and excellence.

This commitment is anchored on our inherent values of passion, partnership and people, to position You First in every respect.

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Verve Rewards Cardholders with Brand New Car & Other Prizes Worth Over N50 Million

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AJAGBE ADEYEMI TESLIM

Sponsored by: H&H

Africa’s leading payment cards and digital tokens brand, Verve, in partnership with First Bank has rewarded the grand prize winner of the Transact and Win Promo, Mr. Olakunle Animasaun, the Chairman of Kanwal International Limited, with a brand-new Suzuki S-Presso car during the prize presentation ceremony at First bank’s head office in Lagos.

The Verve Transact and Win Promo organized in collaboration with First Bank was designed to reward loyal Verve cardholders with cash and exciting prizes during the 14-week period of the promo.

Over 2,500 cardholders were rewarded with more than N50 million worth of prizes, such as; a brand-new car, Generators, Refrigerators, Television sets, Gas cookers, loads of airtime rewards and an array of cash prizes.

Aside the grand prize winner driving away the brand-new car, 100 monthly winners emerged, winning N50,000 cash each and another 100 winning either Gas cookers, Refrigerators or Generator sets. Over 2,400 lucky cardholders were also rewarded weekly with either TV sets, N20,000 cash, N10,000 cash or N10,000 airtime each. It was indeed a season of rewards and merriment for the First Bank Verve cardholders.

Speaking at the prize presentation ceremony, Vincent Ogbunude, Managing Director of Verve International, said the firm partnered with First Bank to reward loyal customers because they both shared a similar vision of delivering world-class payment solutions to their esteemed customers.

He further said beyond the overarching goals of providing secure and innovative solut​​ions to its customers, Verve is committed to creating unique customer experiences and rewarding customers for their continued patronage. “We congratulate all the lucky cardholders, and we will be taking the excitement a notch higher with the presentation of the gift items and a brand-new car to lucky winners.”

Mr. Chuma Ezirim, FirstBank’s Group Executive, E-Business and Retail Products, said that the aim of the promo was to appreciate the bank’s over eight million Verve Debit Cardholders. He stated that the bank will continue to partner with Verve to reward the patronage of customers.

Mr. Olakunle Animasaun, said he never expected to win the grand prize and he was overwhelmed with the excitement of winning the car.

He said, “Initially I doubted the credibility when someone called me from ​F​irst ​B​ank, informing me I had won a car. I did not believe it, until I got here, saw the car and the key was handed over to me. I thank FirstBank and Verve for this opportunity given to me. I pray that God will continue to bless them.”

He urged other cardholders to continue to use Verve cards to enjoy seamless payment solutions.

The presentation ceremony had representatives from the Regulatory bodies; National Lottery Regulatory Commission (NLRC), Federal Competition and Consumer Protection Commission (FCCPC) and the Lagos State Lotteries Board (LSLB) among others in attendance. 

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Interswitch To Headline One Africa Music Fest, Sponsor 20 Customers

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AJAGBE ADEYEMI TESLIM

Sponsored by: H&H

Africa’s leading integrated payments and digital commerce company, Interswitch is set to, yet again headline the Interswitch One Africa Music scheduled to hold in New York, and Dubai, this year.

This is the company’s third consecutive headline-sponsorship of the music festival that celebrates and showcases Africa’s music and creative talents to the world.

As a company that gives back, Interswitch has announced that it will be rewarding 20 lucky customers with an all-expenses-paid trip to the Dubai concert to experience the electrifying performances by some of Africa’s biggest artistes, alongside other global stars. The lucky winners from the ‘Never Stop Vibing’ campaign will be selected from a monthly raffle draw that will hold at the end of August, September and October 2022.

To qualify for the draw and win a ticket to Africa’s biggest music fest, interested participants are advised to download the Quickteller app and conduct a minimum of three (3) transactions every month, from August 1, 2022, to October 31, 2022.

Interswitch has consistently headlined the show for three consecutive years, enabling the African music industry and elevating African artistry to reach a global audience, rooted in its belief in taking African talent beyond the continent for wider recognition and consumption.

Interswitch’s sponsorship of the music fest is an expression of its desire to strive for value realization, engaging customers’ passion points, providing rewarding brand experiences and connecting music lovers with their favourite artistes.

Speaking on the sponsorship, Olawale Akanbi, Group Head, Growth Marketing – Merchant & Ecosystem, Interswitch Group, said that Interswitch’s consistent support of the music fest mirrors the company’s desire to throw its weight behind the growth of African talents across industries, from tech to music.

He added, “We make conscious efforts to tap into opportunities that showcase African talents to a global audience, sustaining the international momentum which has been gained by Afrobeats music, while fostering collaboration that leads to growth.”

Also remarking on the campaign, Priscilla Iyari, Brand Manager, Quickteller, Interswitch Group noted that Interswitch’s renewal of its sponsorship is a commitment to reaching consumers at their various touchpoints, especially their passion points & lifestyle, beyond just payments.

Iyari said, “We are excited to headline the Interswitch One Africa Music Fest again this year. It serves as another customer-engaging avenue to reward our loyal customers with an experience of a lifetime’’. She further stated that the brand continues to demonstrate its support for the African music industry by curating and sponsoring initiatives such as Quickteller Barz and Notes, DJ Kaywise’s Joor party, as well as other concerts.

The Interswitch One Africa Music Fest brings together artistes from across Africa who will share the stage with other renowned performers from other parts of the globe to thrill fans and music lovers with hit collections.

Artistes such as Wizkid, Davido, Tiwa Savage, Burna Boy, Omawumi, and Flavour, among others have graced the events held in three different cities: New York, London, and Dubai, in the past. The line-up this year promises to be just as star-studded.

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Mouka Rewards Business Partners Nationwide with Exciting Gifts to Enhance Trade, Assures Endearing Relationship

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Sponsored by: H&H

Mouka, Nigeria’s leading manufacturer of mattresses, pillows, and other bedding products, has rewarded its loyal Business Partners with fabulous prizes in recognition of their contribution to the company’s growth trajectory.

Gifts such as Tricycles, Air Conditioners and Television sets were presented to the highly elated Business Partners amidst the glitz and glamour of the African-themed evening. Celebrities, medical practitioners, media and other professionals attended the fun-filled event at the Intercontinental Hotel, Victoria Island, Lagos, on Saturday, 6 August 2022.

Commending the market leader, a Business Partner from the South-west region and one of the beneficiaries of the award, Alhaji Mufutau Owolabi, stated that the relationship with Mouka has been cordial, mutually beneficial and rewarding. He eulogised the company for its immense support over the years.

Also, another beneficiary, Ismaila Amusa, avowed that Mouka has been adding value to his business through similar rewards that have positively impacted his trade. “I am highly delighted to be one of the company’s Business Partners; l can confidently say it is the best in the industry,” Amusa stated.

In his remark, Mouka’s Managing Director, Femi Fapohunda, commended the Business Partners for their continued loyalty to the brand. “Mouka’s success story spanning over 63 years would not have been possible without your hard work and dedication. Our ability to maintain the leading position in the sleep industry of Nigeria could not have been possible without you. We call you partners because you have continued to demonstrate immense commitment to this relationship which has resulted in steady growth and achievement of our business objectives”, Fapohunda stated.

Furthermore, Mouka’s MD stated that the tricycles would augment the trucks they were presented with in easing the challenges relating to logistics. With these tricycles, their Business Partners can service smaller orders quickly and cost-effectively.

The company’s Chief Commercial Officer, Chief Dimeji Osingunwa, cheered the Business Partners, urging them to do more in the year’s second half. He also presented a new scheme where the Business Partners could win trips to exotic destinations such as Rio de Janeiro, Marakesh in Morocco and Zanzibar in Tanzania upon achievement of their sales target for July to December of 2022. The announcement of the new reward scheme was received with loud applause and excitement.

As the propagator of a healthy sleep culture in Nigeria, the brand heritage and product quality have spurred endorsements by the National Association of Orthopedic Manual Therapists (NAOMT) and the Nigeria Society of Physiotherapy (NSP).

According to the President of the NSP, Dr Nnenna Chigbo, ‘’when you sleep well, your mental and physical health improves. With the Mouka Wellbeing range of orthopaedic mattresses, you sleep better and wake up with a strong body to tackle your day”.

In the same vein, the President of NAOMT, Dr Onigbinde Teslim, remarked: “before our endorsement, Mouka has been a household name in Nigeria, but as scientists, we needed proof. We analysed their processes and products and found mattresses, especially the Wellbeing range, to be world-class and ideal for back health and general wellness”.

Mouka’s Brand Ambassador, ‘The King Of Boys’, also known as ‘Toyin Tomato’, Nollywood star Sola Sobowale shared her Mouka Story with the invitees. “My relationship with the brand started before I was born. My parents slept on Mouka and raised us sleeping on Mouka mattresses. A healthy diet, exercise and quality sleep on Mouka have helped me stay on my game.

At my age, I still rock high-heeled shoes, and my back still stands Kakaraka”, she said.With side attractions of comedy, games, dance presentations, and live music, it was a night filled with fun, laughter and fulfilment for all who attended.

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