Well, there is a prevalence of avoidable blindness in parts of Northern Nigeria thanks to sand storms, among other factors. So, this is CSR actually hits the bull's eye and is a great example of meeting needs in a community.

Interestingly, a number of the tech-related CSR by FCMB are in the South.

Congratulations, safe to say this nomination is a win already.

It’s February, the month of love and a second chance to start the year on a good note, after the fastest sapa month (January) ever! There is no need to feel down if your new year resolutions haven’t kicked off on the best note. The beginning of the year is usually bumpy for most of us. What matters is that you don’t give up on them!

Every year, you resolve to improve your life rather than binge-watch an entire sitcom season on the eve. From learning new skills to furthering your career to finally setting up a savings account to avoid starring in an episode of “stories that touch” or joining a gym for the ultimate #summerbody, the New Year symbolises a time for positive change. It represents an opportunity to turn a new leaf, be better and avoid becoming flagbearers for the “I need urgent 2k” geng.

While we can’t prevent you from being a couch potato this year (lol), we can reward you for simply stepping up your savings game! Gone are the days of traditional savings schemes that give no tangible returns. As the saying goes, “Money makes the world go around“, so yours should work for you too, and deliver good returns.

However, having money locked away in a “savings” account these days just doesn’t cut it anymore; people want more value for their savings. Omo! People need systems that incentivise the discipline to save and deliver higher returns that help meet their savings goal(s). Consider inflation!

Lately, banks and fintech platforms are attempting to meet these demands by setting up schemes offering duration-based interest rates between 1 and 3%. However, the unnecessary complexity, low-interest rates, and rigidity make these schemes unappealing for customers who need real value, flexibility, and easy access. Quite frankly, the interest is not worth the stress.

So, where do we find an easy, access zero risk and 100% secured digital savings scheme available to all with interest rates as high as 10% in Nigeria? Does it even exist? Well, e dey. It’s called iNest by FCMB, and here’s what “people wey sabi” are saying. You be the judge!

Saving for rent without stress – Jubril Abass
“Weeks after I got my allowance, I could not channel my earnings towards anything in particular. But since I signed up on iNest, I am now able to save for my rent without hassles and still end up having something left from the interest I received on my savings.”

Got my new phone with iNEST – Idris Ayoola.
“Thanks to iNest by FCMB, I was able to save up for my new iPhone without having to apply for any instalment payment plan…it was all me and iNest.”

Life don balance with iNest – Temilade Adekeye.
“I’ve never been a fan of being penalised for taking my own money from my own account, simply because I decided to withdraw earlier than a set date. Is it not my money?! So, when I discovered iNest by FCMB, it came as a breath of fresh air to find out that I could make part or complete withdrawals from my savings for contingencies without worrying about default penalties or losing my interest. It’s amazing! In this case, life don balance!”

I became a car owner thanks to my iNest Savings – Timothy Okocha.
“For a year and a half, I’ve been trying to save up for a car. I earn a decent income, so it might be easy to assume that keeping money for a car would come with no hassles whatsoever… right? Wrong! My inability to commit to a saving pattern and the deductions I make every now and then made it nearly impossible to get my car. But last year, thanks to my iNest savings (lock up plan), I was able to buy my car and have enough to register it from the interest. I ended 2021 with a bang!!”

I paid my daughter’s school fees with iNest – Tilewa Aiyedun.
“As someone whose income doesn’t follow a salary framework, deciding when and what percentage of my income to save poses a challenge. It usually ends up with me forgetting to put funds aside or having to make a one-time bulk payment for things I could have easily saved up for, like my daughter’s school fees. But thanks to the simplicity of iNest by FCMB, and the savings calculator on the platform, I’ve been able to open a savings plan targeted towards paying her fees at the exact moment when due. She also gets the interest as her school allowance. Everything is sorted out!”


iNest by FCMB is an easy access, zero risk and 100% secured incentive-based digital savings scheme. It’s available to everyone, including non-FCMB customers. iNest by FCMB helps you save money towards specified goals in a manner that gives you absolute control with up to 10% returns on your savings. You determine how much and when to save and access your funds with a few clicks on the FCMB New Mobile Banking App. Potential FCMB customers can access the iNest platform via www.fcmb.com/i-nest or through the FCMB new mobile app. Start saving today

Lol - this is not a loan shark app.

Those unregistered and unregulated "companies" that invade privacy, send messages calling their customers dangerous criminals on the run.

Important to know the difference.

FastCash is powered by FCMB and not some phoney company.

It maintains and protects the privacy of its customers.

Pandemic or no pandemic, when you care about people, you will always do what you can to help. FCMB is showing other banks how to help people get better lives. Kudos to them. Congrats to all the people in Ogun State

What is the simple thing every Nigerian should know about the ICH?

ICH was founded in 1960 to research child health care for the benefit of the Nigerian child. In recent years, we cover more than children-related diseases. So, we have expanded our research into diseases that manifest among adults and research on genetics and social behavioural health studies.

Tell us more about the focus areas of ICH. Why is the Institute so important?

The Institute of Child Health has three focus areas namely research, training, and services. In the area of research, we study child and adolescent health, genetics, social and behavioural health. With regards to training, ICH has several post-graduate programmes that include master programmes in public health, PhD in child and adolescent health, and public health biotechnology.

Our programmes are unique because we are the only institution that graduates students in MPH Child and Adolescent Health and M.Sc. Public Health Biotechnology. We are the first in Nigeria and Africa. The ICH also do community services through its immunisation clinics.

What necessitated the E-classroom for the ICH community in UI?

Interestingly, the e-classroom is very relevant now because of COVID-19. When we envisioned it in 2019, there was no pandemic. We wanted an e-classroom to take full advantage of our collaborations outside Nigeria.

After resuming as Director in 2019, I asked myself how we can make the most of our international collaborations? How can we get our international resource persons to help teach? Their interaction makes a difference in the performance of our graduates making it important for us to bring them closer to us. This birthed the idea of an e-classroom that will make our international collaborators an integral part of our faculty at the Institute.

What is it about the Institute that inspired FCMB to fund the provision of facilities in your e-classroom?

FCMB is a bank of the people. We can see what the bank has done in our local communities and across the country. So, we thought that they could help us out because the FCMB Group Plc, led by the Group Chief Executive, Mr Ladi Balogun, has proven to be a purpose beyond profit business that is committed to solving social problems at scale. With that in mind, we approached First City Monument Bank and got such a great response. It is exciting that FCMB is on this journey with us to bring borderless education closer to students.


How will the E-classroom enrich lives in our community?

This is already happening because we have started using the e-classroom with students really benefiting from it. It has also been beneficial to members of the faculty of the institute working on research that is beneficial to the community.

Often, our research is turned into papers that benefit only the academic community, but we can now have webinars that will teach people and share what we do here at the clinic. This will bring critical knowledge such as how to take care of babies closer to the populace. This benefits students, our faculty, and the general populace.

https://techeconomy.ng/2021/12/fcmb-made-education-without-borders-possible-at-ich-professor-amodu/

Professor of Journalism.

First City Monument Bank (FCMB), a part of the FCMB Group Plc, has equipped the newly built E-Classroom of the Institute of Child Health (ICH) of the College of Medicine in Ibadan with e-teaching and e-learning facilities for the research and study of children related diseases.

In this interview, a professor of genetics and public health, Olukemi Amodu, who is the Director of the Institute, spoke on the project and its importance to the university, students, and Nigeria’s health sector.

https://techeconomy.ng/2021/12/fcmb-made-education-without-borders-possible-at-ich-professor-amodu/

First City Monument Bank (FCMB), as part of measures to reduce poverty gaps among young Nigerians, has embarked upon financial literacy training for hundreds of secondary school students in seven states across the country.

FCMB Group Plc, led by the Group Chief Executive, Ladi Balogun, stresses the need for Nigerians to have money management skills such as budgeting, saving, and investing because it guarantees financial security and freedom.

Hundreds of secondary school students in Anambra, Bauchi, Cross River, Edo, Enugu, Lagos and Osun states benefited from the training this year.
https://guardian.ng/business-services/fcmb-deploys-financial-literacy-training-in-seven-states/

Can you act as a first point of contact, dealing with correspondence and phone calls?

Can you compose and prepare correspondence; monitor and respond to emails?

Do you possess good desktop research skills?

Able to or willing to learn how to set up meetings, schedule meetings, sets meeting agendas, setting location, time, and appropriate duration, identifying, inviting, and confirming participants?

Qualifications

• Minimum of a OND degree

• 0-1 year working experience as a personal assistant or related positions.

• Excellent written, verbal, and non-verbal communication skills.

• Proficiency with Ms Word, Excel, and PowerPoint.

• Excellent typing skills, speed, and accuracy essential.

• Professional telephone manner.

• Mature and able to work unsupervised.

Send your CV to adeola@klagos.com before 30th April 2021 to Kiishi-Lagos Limited.

By Adeola Adejokun

Dr Jones is 70. He should be happy and proud of how far he has come, but this new member of the Septuagenarian gang is worried. The scholar will be retiring in a few weeks and is anxious about paying out of pocket for his health care services.

The jolly good scholar who had looked forward to retirement is also bothered by something else. It is the round-the-clock presence of his youngest son – Tunde – at home. He cannot remember seeing him set out for work in months.

He knows the solution to the two nagging problems – a family meeting. In short, an urgent one. Dr Jones convened the session immediately. After all, distance is no longer a barrier. The new android tablet bought from AltMall and gifted to him by Tunde is the perfect enabler.

‘Yes, Tunde’s older siblings will admonish Tunde to retrace his step career-wise. I will also crowdsource my health care solution from the kids’, Pa Jones mused to himself.

To his surprise, it turns out that Tunde isn’t unemployed after all, and he has been working from the comfort of their home. The family meeting on Zoom was rescheduled twice because it clashed with Tunde’s prescheduled meeting and e-learning session.

Grinning from ear to ear, Tunde calmed the nerves of his anxious dad later that evening. He revealed that his employer, Sterling Bank, has a remote work policy dating back to 2016, which empowers him and many others to work seamlessly from home.

Dr Jones was relieved and joyous. And Tunde took the cue to brag about his unusual employment benefits which surprised his United Arab Emirates, Canada and the United States of America based siblings. Tunde’s perks include a side-hustle grant, gym membership, paternity leave, and Elder Care – a Sterling Bank Health Insurance plan for employees’ aged parents.

Read full story here----->>>>>> https://dailytrust.com/flexible-work-elder-care-sterling-bank-and-the-rest-of-us
https://talent.sterling.ng/job/view/748

Adeola Adejokun, Head of Public Relations at Sterling Bank, writes from Lagos.

Nigerians living in Canada, United States (US) and the United Kingdom (UK) can now send money home for free this Christmas season, courtesy of Switch international money transfer service.

Read more at: https://www.vanguardngr.com/2020/12/switch-offers-free-money-transfer-to-nigeria-this-christmas/

Going to the bank physically for transactions is fast becoming history for most people especially for the young and upwardly mobile millennial generation. Why go through the stress of a bank queue when you can transact the same business from the comfort of your home or anywhere far from the bank with a mobile banking app? The COVID-19 pandemic which saw a total and partial lockdown forced many analogue customers to switch to the use of the mobile app.

The apps have their good and downsides, but we will state what users dislike about these apps first.

Apps that throw up challenges which ensure that the customer often struggles to login, access personal account statements real time, check account balance and transfer money often get the thumbs down. Same for apps that crash frequently after new updates, have regular failed transactions, and challenges with setting up and resetting user pins, among others. These issues irritate mobile banking app users to no end leading them to make spiteful online remarks, reviews, and social media posts. In extreme cases, users uninstall the app.

On the other hand, customers love apps that allow easy and hitch free payment of bills, airtime purchase, account statement generation, and new account opening. The customer experience on such apps are fully digital making physical visits to a bank branch irrelevant. This gives customers joy during this current COVID-19 pandemic where a lot of emphasis is being placed on social distancing.

A technology blog: Techeconomy did a survey of the best mobile banking apps in 2020 and ranked the OneBank app of Sterling Bank as the best in 2020 among apps surveyed. ALAT by Wema, GTWorld, Zenith Bank Mobile App and the Stanbic IBTC Bank app made the Top Five List but were ranked lower than OneBank.

OneBank is much loved for allowing Sterling Bank customers to get loans up to five million naira in five minutes, make investments, and do forex transfers without entering a bank branch. Other features attracting users to the app include its use to withdraw cash without a credit or debit card on ATMs, creation of online virtual cards and its best kept secret – the panic password. It does all of these in addition to everything other bank apps do.

As consumers rely more on mobile apps to perform tasks, they once trusted branches to perform, they become more demanding. Disappointing experiences while using apps evoke strong emotions which are often expressed on social media. For a lot of Nigerians, especially the youths, mobile banking apps are as vital – if not more vital – than basic communication apps such like email. And they would continue to show love for apps in the category of OneBank for bundling what should require more than two to three apps into one.

https://dailypost.ng/2020/10/15/tony-ademiluyi-what-nigerians-love-and-dislike-about-mobile-banking-apps/

Going to the bank physically for transactions is fast becoming history for most people especially for the young and upwardly mobile millennial generation. Why go through the stress of a bank queue when you can transact the same business from the comfort of your home or anywhere far from the bank with a mobile banking app? The COVID-19 pandemic which saw a total and partial lockdown forced many analogue customers to switch to the use of the mobile app.

The apps have their good and downsides, but we will state what users dislike about these apps first.

Apps that throw up challenges which ensure that the customer often struggles to login, access personal account statements real time, check account balance and transfer money often get the thumbs down. Same for apps that crash frequently after new updates, have regular failed transactions, and challenges with setting up and resetting user pins, among others. These issues irritate mobile banking app users to no end leading them to make spiteful online remarks, reviews, and social media posts. In extreme cases, users uninstall the app.

On the other hand, customers love apps that allow easy and hitch free payment of bills, airtime purchase, account statement generation, and new account opening. The customer experience on such apps are fully digital making physical visits to a bank branch irrelevant. This gives customers joy during this current COVID-19 pandemic where a lot of emphasis is being placed on social distancing.

A technology blog: Techeconomy did a survey of the best mobile banking apps in 2020 and ranked the OneBank app of Sterling Bank as the best in 2020 among apps surveyed. ALAT by Wema, GTWorld, Zenith Bank Mobile App and the Stanbic IBTC Bank app made the Top Five List but were ranked lower than OneBank.

OneBank is much loved for allowing Sterling Bank customers to get loans up to five million naira in five minutes, make investments, and do forex transfers without entering a bank branch. Other features attracting users to the app include its use to withdraw cash without a credit or debit card on ATMs, creation of online virtual cards and its best kept secret – the panic password. It does all of these in addition to everything other bank apps do.

As consumers rely more on mobile apps to perform tasks, they once trusted branches to perform, they become more demanding. Disappointing experiences while using apps evoke strong emotions which are often expressed on social media. For a lot of Nigerians, especially the youths, mobile banking apps are as vital – if not more vital – than basic communication apps such like email. And they would continue to show love for apps in the category of OneBank for bundling what should require more than two to three apps into one.

https://dailypost.ng/2020/10/15/tony-ademiluyi-what-nigerians-love-and-dislike-about-mobile-banking-apps/

Adieledoris:
Beware- sterling bank staff are fraudsters

The question is how did I come to the conclusion that they are fraudsters. The truth not everyone of them are but 90% of there staff are including their branch managers.
I Adiele Doris went to open an account with them on the 27th of August, and on the 30th of August my account was hacked, and the money in my account was removed through OTP meaning one time payment. I wrote a detailed letter to the branch manager that their account has been hacked. The case should be investigated. If OTP is one time payment who generated the other 3 codes that was used in removing the whole #50000 from my account if it was not one of your staff. Meanwhile the staff deceived me by acting like they work with BOI; - bank of industries. In giving out loans. My account officer came to snap my business premises as one of the requirement in accessing the loan. The staff also assured me that if I shared the without the Bvn no my account is save. I decided take my ATM card and withdraw my money the night before my money withdrew. They assured me no issues. I sent one code which is meant for one time payment but the staff generated the two other codes to removed the money between 11:45pm and 12:15am of August 30th. The branch manager told me that there is nothing that they can do about it and the staff denied that they did not deceive me. They all denied my visit and my complaints. I told the branch manager that I will tell the world that you guys are fraudsters. The guys said open account with any branch of sterling bank. So I concluded that it is not only in the branch I opened, there IT officers control all the branches and have a good knowledge of how to remove money from people account. Pls be warned!

A lot is not right with your narrative. Provide proof!!!

The oft-repeated declaration that Nigeria is the giant of Africa is mainly due to its abundant human and natural resources. Indeed, the country is so blessed with vast arable land to the extent that experts have regularly expressed the view that Nigeria has the potential to feed its teeming population and the rest of Africa if the agriculture sector is properly harnessed.

Nonetheless, the potential of the agriculture sector has remained largely untapped despite its capacity for employment generation, food security and poverty reduction in the country. But there is hope that the drive to achieve a hunger-free Nigeria remains a feasible one.

Sterling Bank has taken up the challenge of addressing issues preventing the agriculture sector from attaining its full potential through Agriculture Summit Africa holding in Abuja, from the 5th to 6th of September 2019.

The theme of the continental summit which seeks to transform Nigeria into a global leader in food production, processing and marketing is “Agriculture – Your Piece of The Trillion-Dollar Economy”.

A timely initiative, the continental summit is convened to address the future of agriculture in Nigeria and Africa at a point the continent is becoming a single market with over 1.2 billion people through the Continental Free Trade Area (AfCFTA) treaty.

Addressing the media in Lagos on Agriculture Summit Africa which will bring together policymakers, development agencies, international finance institutions and value chain players on the continent, Yemi Odubiyi, Executive Director, Corporate and Investment Banking, Sterling Bank, said it will address the issues preventing the very important sector from attaining its potential because food security on the continent has become a critical issue.

Odubiyi disclosed agrarian land is becoming increasingly desolate in the face of climate change and rapid population growth making food security a big challenge. Using Nigeria with population estimated at 200 million as an example, he emphasized Africa’s food security challenge by pointing out that the country’s annual population growth rate of 3 percent outstrips economic growth rate at less than 3 percent.

Read more here ---> https://thenationonlineng.net/agric-summit-positioning-nigeria-to-feed-africa/

After a successful outing last year, Africa’s most agile company and Nigeria’s most innovative bank, Sterling Bank Plc made another heartwarming return to the Kaduna Book and Arts Festival (KABAFEST) from the 11th – 14th of September 2019 as a sponsor, partner, and exhibitor.

The first and largest literary and arts festival in Northern Nigeria, KABAFEST, powered by the Kaduna State Government, Sterling Bank, Book Buzz Foundation and the Yasmin El-Rufai Foundation, among other partners, seeks to change the way the world sees Northern Nigeria.

In its third year, the book festival is visibly boosting literacy, promoting reading culture, and reigniting passion for literary and performing arts in Northern Nigeria. It has successfully created a haven for culture and literary enthusiasts to gather to dialogue as well as ideate.

Declaring KABAFEST open, the Governor of Kaduna State, Mallam Nasir El-rufai, who was represented by his deputy, Dr. Hadiza Balarabe, said the state government conceived the festival to uplift literary, visual and performing arts talents in Northern Nigeria. “The first two editions of the festival showed promise and with this third edition, our aspiration to institutionalised KABAFEST is being attained.”

She disclosed that Kaduna State has embraced its diversity as a blessing, adding that the state views “literature as one of the most important channels for explaining ourselves to each other and the world, building a sense of common community and challenging us to build a better society.”

In his goodwill message at the opening ceremony, Mr. Yemi Odubiyi, Executive Director, Corporate and Investment, Sterling Bank, said the bank decided to support the festival as part of its strategy of investing in human capital to drive Nigeria’s competitiveness.

“We committed to be at the heart of Nigeria’s accelerated development by focusing on critical sectors and the development of human capital. A coordinated culture sector would create jobs and generate foreign exchange earnings for the country. But we recognize that this sector is essentially in need of support which we can provide alongside other stakeholders through platforms that include KABAFEST and the Ake Festival. We are here because KABAFEST provides a platform for young Nigerians to express themselves and to be competitive globally with their skills.”

He added that the bank is proud to be associated with KABAFEST and will remain committed to the development of human capital in critical sectors of the economy.
https://dailypost.ng/2019/09/13/sterling-bank-returns-kabafest-uplifts-literary-performing-arts/

Africa’s most agile company and Nigeria’s most innovative bank, Sterling Bank Plc, is the first bank in West Africa to go live on SWIFT Global Payments Innovation (gpi). SWIFT gpi dramatically improves the customer experience by increasing the speed, transparency and end-to-end tracking of cross-border payments.

Yemi Odubiyi, Executive Director, Corporate and Investment Banking, Sterling Bank, said the introduction of SWIFT GPI has transformed cross border payments for the benefit of our customers. As a key player committed to the digital transformation of Nigeria’s financial sector, we have delivered the solution and all its benefits to our customers. Sterling is the first bank in Nigeria and West Africa to achieve SWIFT gpi implementation, as this was driven by our commitment to provide faster, transparent and traceable international payments.

Odubiyi added that other benefits of SWIFT gpi includes, receiving confirmation message when beneficiary has been paid, ensuring remittance data is unchanged when payment arrives at the destination Bank, Stop and recall – Allowing payment messages to be immediately stopped in case of fraud or error, no matter where they are in the gpi transaction chain.

Around 40% of SWIFT gpi payments are credited to end-beneficiaries within five minutes; 50% are credited within 30 minutes; and almost 100% within 24 hours.

Sterling Bank continues to be a first mover in the adoption of technologies that makes banking transactions more efficient and seamless for retail, corporate, institutional and commercial banking customers in the country.

https://dailypost.ng/2019/10/02/sterling-bank-leads-international-payments-west-africa-swift-gpi/

Six months after delighting thousands of food lovers in Abuja, the food and drink festival powered by Sterling Bank – #EatDrinkFestival – returns to Lagos this Yuletide for its sixth edition.

In a statement, the lender said the event would hold on December 28 and 29, 2019 at the Sterling Arena, Marina, between 12:00 noon and 8:00 p.m. each day.

Chief Marketing Officer of the bank, Mr. Dapo Martins, who disclosed this in a statement in Lagos recently, explained that this was the third consecutive time that the bank will be sponsoring the event as part of its commitment to the development of the food and beverage industry in Nigeria.

He said the last edition of the festival attracted about 5,000 guests, excluding children, and about 80 vendors from the Small and Medium Scale Enterprises (SMEs) segment.

Martins said guests at the festival would be spoiled for choice on what to eat and drink from a broad selection of the city’s best food vendors. The event will also feature masterclasses, games and performances by notable artists.

Guests will have the opportunity to experience delicious foods and drinks from local culinary talents such as Chef Fregz, Sooyah Bistro, Korede spaghetti, Dooney’s Kitchen, Bubbletii, Segi’s Zobo, A.J’s Gourmet, Corporate Jollof, Hans & Rene, Heels in the kitchen, Igbadun brewing Co, Limehouse, Quacktails, Hol Brew, Jaka’s grill, Kewa’s kitchen.

Others include Torte Sugarflakes, Sawari cocktails, Slush Queen, Sophisticated Wobia, Summer’s Bloom cake studio, Yellow Bunny, Yoede Fritters Vector, Crispy and Grill, 19.8 drinks, Anasbari, Adun-By-Abby, Beyond Fab Smoothies, Big Fish cocktails, Bubbletii, Ette’s Barbecue and cocktail, Bariety Club, Bunfire, Pink Panther, Cocktail Ville and Chops and more.

Guests are expected to be treated to cuisines drawing inspiration from different parts of the world from over 80 food and drink vendors.

https://www.newtelegraphng.com/2019/12/sterling-bank-sponsored-eatdrinkfestival-holds-dec-28-29/

THIS IS THE REAL NEWS

Moody’s Changes Nigeria’s Ratings from Stable to Negative

Moody’s Investors Service, one of the global credit rating agencies, wednesday changed its outlook on Nigeria’s ratings to negative from stable.

Concurrently, Moody’s affirmed its B2 long-term local and foreign currency issuer ratings, the B2 foreign currency senior unsecured ratings, and the (P)B2 foreign currency senior unsecured MTN programme rating on the country.
According to the rating agency, the negative outlook reflected Moody’s view of increasing risks to the government’s fiscal strength and external position.

It explained: “Already weak government finances will likely weaken further given an extremely narrow revenue base and persistently sluggish growth that hinders fiscal consolidation.

https://www.thisdaylive.com/index.php/2019/12/05/moodys-changes-nigerias-ratings-from-stable-to-negative/

SOMEONE IS TRYING TO BLACKMAIL STERLING BANK . IT IS CHRISTMAS AND THE BOYS ARE HUNGRY

PEOPLE SEE ORIGINAL MOODY'S RATING BELOW

Rating Action: Moody's affirms ratings of Nigerian banks following action on the Nigerian government; changes outlook to negative


London, 06 December 2019 -- Moody's Investors Service ("Moody's" has today affirmed the B2 long-term local currency deposit ratings of the following Nigerian banks: Access Bank Plc, Zenith Bank Plc, First Bank of Nigeria Limited, United Bank for Africa Plc, Guaranty Trust Bank Plc, Union Bank of Nigeria plc, Fidelity Bank plc, FCMB (First City Monument Bank) Limited and Sterling Bank Plc. The outlook on all the banks' long-term deposit ratings was changed to negative from stable.

A full list of the bank's ratings affected by today's rating action is at the end of this press release.

The rating action follows Moody's decision to affirm Nigeria government's long-term issuer ratings of B2 and change its outlook to negative from stable on 04 December 2019. For further information on the sovereign rating action, please refer to Moody's press release: Moody's changes the outlook on Nigeria's ratings to negative from stable; affirms the B2 ratings; https://www.moodys.com/research/--PR_413627.

https://www.moodys.com/research/Moodys-affirms-ratings-of-Nigerian-banks-following-action-on-the--PR_413869

Africa’s Skill Olympics powered by Sterling Bank produces 14 new champions

More than 82 technicians competed for honours in 14 skills categories that include robotics, web and graphic design, plumbing, carpentry, shoemaking and fashion design during Africa’s biggest skills festival powered by Sterling Bank at the Landmark Events Centre in Lagos from December 4 -5.

At the end of the two-day skills festival organized by iCreate Africa Limited, 14 national champions and 28 second and third place winners emerged. Breakdown of the 42 winners revealed that 17 participants were from the Southwest region, 14 from the Northern region and 11 from the South East region.

Categories with the highest scores in the competition are robotics, automobile engineering, plumbing, and leather works. Winners in these categories are Miracle Olasoyin with a 99% score in robotics, Leonard Manzo with 98% score in automobile engineering, Chima Solomon with 92% score in plumbing and Lot Madaki with 90% score in leather works.

Overall winners in other categories are Ibraheem Ridwan (Carpentry), Christopher Olaniyi(Tiling), Oluwasegun Akanbi (Electrical), Toheeb Ogunbiyi (web design), Audu Precious Adayi(Graphics), Ifedayo Emmanuel Bello (Cooking), Mojisola Akin-Ademola (Fashion), Akinlo (Art),Emmanuel Abanobi (Make up) and Abdul-Rasheed Kelvin Hassan (Barbing).



First of its kind on the African continent, the festival which promotes technical skills and vocational education had in attendance Mr. Abubakar Suleiman, MD/CEO, Sterling Bank and other captains of industries; top government functionaries that include the Minister of State for Education, Mr. Chukwuemeka Nwajiuba; over 50 industry experts and judges, 200 volunteers and over 2500 local and international guests.

Read full story here: https://dailypost.ng/2019/12/09/africas-skill-olympics-powered-by-sterling-bank-produces-14-new-champions/

Sterling Bank wins Banker’s Award for Banking in the Community

Sterling Bank Plc, Nigeria’s leading commercial bank, has won the Banking in the Community Award at the Bank of the Year 2019 Awards by The Banker in London, United Kingdom. The bank was recognised at the awards recently for its landmark Sterling Agent Banking Edu-Finance Scheme which seeks to ease the burden of upfront payments of school fees on parents and provide funding for schools to run their businesses.

The Bank of the Year Awards is an annual awards event organised by The Banker to recognise the top financial institutions in the world. The Banker is a British English-language monthly international financial affairs publication owned by The Financial Times Limited.

Commenting on the award, Divisional Head, Retail and Consumer Banking, Sterling Bank, Mr. Shina Atilola, said: “We are proud of this particular award because even in industrialised countries or developing economies, there is still the challenge of including their poorest members in the financial system.”

He noted that The Banker Awards has validated Sterling Bank’s status as the number one in the financial inclusion segment. According to him, the bank got the recognition by performing social functions that include reducing poverty, boosting prosperity and also ensuring a responsible and sustainable path to national growth.

Atilola said the Sterling Agent Banking Edu-Finance Scheme was introduced to ease the burden of about 70 percent of Nigerians who receive wages weekly and are unable to make upfront payments of school fees on behalf of their children. The bank is able to assist this category of Nigerians by providing loans of between N25,000 and N100,000 per term to pay school fees.

“We were equally providing funding for the schools to run their businesses so that they could afford operating expenses such as paying staff salaries and have enough savings to venture into capital projects such as buildings and acquisition of equipment while also ensuring a child gets an education,” he said.

He said the bank was able to develop and grow the product by ensuring that agents who resided within the customers’ communities served customers at their homes and trade stores, “making it convenient to enroll and benefit from the scheme unlike competitors who use tech-based platforms which most of these customers do not have, cannot afford or cannot use.”

The bank also charged an interest rate of three percent monthly which was less than the prevailing rate of five percent monthly in the Nigerian market while also giving additional benefits such as the distribution of free school bags, water holders and raincoats to each child for the payment of school fees as requested by the parent.

The Sterling Agent Banking Education Finance Scheme was launched on September 3, 2018, and has till date impacted more than 8,000 students, 5,800 parents and 4300 schools, a development which has enabled schools to have a substantial inflow of money to aid administration and management of business due to the funds paid by the bank.

In the first phase of the project, the bank recorded a participation count of 8,300 and disbursed N275 million to 20 states in the southern part of Nigeria. An additional N125 million was disbursed in the second phase to new customers from 18 states in the north with an 80 percent repayment rate and a non-performing loan rate of 10 percent.

The bank continued to hold financial literacy campaigns for continuous enlightenment and face-to-face visits.

https://dailypost.ng/2019/12/20/sterling-bank-wins-bankers-award-for-banking-in-the-community/

Sterling Bank Plc, Nigeria’s leading commercial bank, has won the Banking in the Community Award at the Bank of the Year 2019 Awards by The Banker in London, United Kingdom. The bank was recognised at the awards recently for its landmark Sterling Agent Banking Edu-Finance Scheme which seeks to ease the burden of upfront payments of school fees on parents and provide funding for schools to run their businesses.

The Bank of the Year Awards is an annual awards event organised by The Banker to recognise the top financial institutions in the world. The Banker is a British English-language monthly international financial affairs publication owned by The Financial Times Limited.

Commenting on the award, Divisional Head, Retail and Consumer Banking, Sterling Bank, Mr. Shina Atilola, said: “We are proud of this particular award because even in industrialised countries or developing economies, there is still the challenge of including their poorest members in the financial system.”

He noted that The Banker Awards has validated Sterling Bank’s status as the number one in the financial inclusion segment. According to him, the bank got the recognition by performing social functions that include reducing poverty, boosting prosperity and also ensuring a responsible and sustainable path to national growth.

Atilola said the Sterling Agent Banking Edu-Finance Scheme was introduced to ease the burden of about 70 percent of Nigerians who receive wages weekly and are unable to make upfront payments of school fees on behalf of their children. The bank is able to assist this category of Nigerians by providing loans of between N25,000 and N100,000 per term to pay school fees.

“We were equally providing funding for the schools to run their businesses so that they could afford operating expenses such as paying staff salaries and have enough savings to venture into capital projects such as buildings and acquisition of equipment while also ensuring a child gets an education,” he said.

He said the bank was able to develop and grow the product by ensuring that agents who resided within the customers’ communities served customers at their homes and trade stores, “making it convenient to enroll and benefit from the scheme unlike competitors who use tech-based platforms which most of these customers do not have, cannot afford or cannot use.”

The bank also charged an interest rate of three percent monthly which was less than the prevailing rate of five percent monthly in the Nigerian market while also giving additional benefits such as the distribution of free school bags, water holders and raincoats to each child for the payment of school fees as requested by the parent.

The Sterling Agent Banking Education Finance Scheme was launched on September 3, 2018, and has till date impacted more than 8,000 students, 5,800 parents and 4300 schools, a development which has enabled schools to have a substantial inflow of money to aid administration and management of business due to the funds paid by the bank.

In the first phase of the project, the bank recorded a participation count of 8,300 and disbursed N275 million to 20 states in the southern part of Nigeria. An additional N125 million was disbursed in the second phase to new customers from 18 states in the north with an 80 percent repayment rate and a non-performing loan rate of 10 percent.

The bank continued to hold financial literacy campaigns for continuous enlightenment and face-to-face visits.

I was at the Agric Summit Africa - lit stuff. Quite amazing that Sterling Bank brought other Banks to the summit as participants.

There is God oh - this ignorance that you people are sharing with boldness amazes me oh .

SAB Miller does not exist. It was acquired some years ago by AB InBev of Belgium which is now the world's largest brewer.

AB Inbev is the majority owner of International Breweries which brews Hero Larger. Other stakeholders include Nigerian shareholders (like me and my uncle ).
With other Nigerians, we own minority stake. There is no truth whatsoever in the claims that Hero is a South African brand. It is a full fledged Nigerian brand brewed by International Breweries, a part of the AB Inbev family.

sirchikero:
The last may not have been heard on a case of alleged fraud involving Sterling Bank Plc and one of its customers, Providence Heights Secondary School Staff Welfare Association, as the latter has petitioned the Economic and Financial Crimes Commission to wade into the crisis.
The customer had accused Sterling Bank of defrauding it to the tune of N1.2 million at the bank’s branch on Iju Road, Iju, in Ifako-Ijaiye Local Government Area of Lagos State.
According to the customer, on two occasions within a period of five months, millions of naira were withdrawn from its saving accounts with numbers 0000886683 and 0068955741.
Read more : https://www.naijanewsng.com/sterling-bank-customer-petitions-efcc-over-million-naira-fraud/

Sterling Bank is not in a fix over the fraudulent transaction referenced. It was investigated with the outcome indicating that confidentiality and security of financial information tied to the association’s accounts were compromised by its executives. We take the protection of the financial information of our customers seriously by always updating policies and procedures to stay ahead of new strategies used by fraudsters. The bank also understands that customers have a role to play in keeping their financial information safe out of the reach of fraudsters, and are consistently educating them to protect their identity, smartphones, accounts, avoid suspicious emails, text or phone calls.

“The ex-chairman of the welfare account reported a case of N1.2 million after his phone was stolen and fraudulent transactions done through USSD, Flutterwave and mobile app on the 6th of July 2018. He, however, reported to the bank on 9th of July 2018 after the fraud had happened. We were able to salvage the sum of N500,000.00 and deactivated the account across our e-channel platforms.

“Immediately the issue was reported, we contacted the respective banks where the funds were transferred if we could still salvage the funds. We were able to salvage the sum of N500,000.00 and this had been credited to the customer’s account and was acknowledged by the customer.

“The custodian of the account (ex-chairman of the welfare account) failed to report incidence of stolen phone to the bank immediately it happened which would have ensured the deactivation of his account across all our e-channel platforms and ultimately prevent the fraud.

“The account was linked to one of the signatories’ personal account after his account had been profiled on Sterling Mobile platform using his registered mobile line and personal debit card details (PAN, Security, expiry date & PIN). The customer’s account was debited with the sum of N1,746,000.00 and funds transferred to two banks and also used for virtual top-up. We contacted the beneficiary banks with the sum of N129,000 salvaged.

“The association’s executive who had his personal account profiled on the Mobile App and linked to the welfare account, confirmed that he was called by someone who claimed to be from the bank and in the process, divulged his card details – PAN, Security, expiry date and PIN to this supposed staff. The divulged card details were subsequently used for the fraudulent transactions,” the bank concluded.


- This Association Exco be guy men. Hitting the account under false pretenses (lost phone, revealed card details)... Dem don use money do "Na dem dey rush us" for December.

Investors upbeat on Sterling Bank’s growth


by Iheanyi Nwachukwu | May 16, 2018 2:09 am

Investors in Sterling Bank Plc shares are impressed with the bank’s stock recording over 52percent year-to-date (ytd) price gain amid its impressive earnings in full year 2017 and first-quarter (Q1) 2018 records.

Remarkably, the bank reported a profit after tax of N8.5 billion for the financial year ended December 31, 2017 as against N5.2 billion in 2016, representing an increase of 65 percent in profitability. Gross earnings increased by 19.8percent to N133.5 billion in 2017 compared to N111.4 billion in 2016. Sustaining the impressive performance, Sterling Bank reported a profit growth of 65.2 percent for the first quarter ended 31st March 2018.

Analysts and stockbrokers at a recent Facts Behind the Figures session of the bank at the Nigerian Stock Exchange were unanimous in their verdict that the bank’s coherent strategy, business transformation initiatives, strong management team, and disruptive solutions will lead to better than expected future results for the mid-sized lender.

Abubakar Suleiman, chief executive officer, Sterling Bank Plc, affirmed the bank’s continued growth across key financial indices in Lagos Bourse while addressing stockbrokers, investment analysts and the media during the bank’s Facts Behind the Figures session at the NSE.

Doyen of Stockbrokers in Nigeria, Willie Sam Ndata lauded Sterling Bank for explaining the facts behind the figures in its financial statements with the stakeholders in capital market. “The CEO of Sterling Bank has spoken to the numbers and we are hopeful that he will continue to provide the market with useful information. The solutions you have highlighted explain the increased customer growth recorded by bank. We are sure the bank will deliver value to all stakeholders going forward.”

The lender’s 2017-2021 mid-term strategy indicates the intent to grow market share of deposits to 5percent, diversify its retail funding base, record non-performing loans below its peer group average as well as Return on Average Equity (ROAE) above peer group average.

Suleiman disclosed that the bank is also looking to achieve diversified income streams with top quartile position in all its operating areas, double digit revenue growth on yearly basis and reduce cost of funds to less than five percent.

On the bank’s long-term strategy, the CEO disclosed that Sterling Bank intends to become a globally competitive financial services franchise by financial and non-financial measures; adding that it would continue to operate a fully sustainable business model with institutionalized processes that would outlive the stewardship of current owners and managers.

He also reiterated the bank’s commitment to its primary role of financial intermediation through intervention in sectors that will create jobs, improve living standard and bring about economic growth for the country. Abubakar Suleiman identified the priority sectors as Health, Education, Agriculture, Renewable energy and Transportation.

Speaking on the bank’s strategic initiatives, Yemi Odubiyi, Executive Director, Operations and Services, said Sterling Bank would manage risk, balance sheet and capital to deliver superior returns to shareholders; create a learning organisation to optimise productivity as well as operations and technology to drive better control, manage costs, complexity and risk. He said all these would enable the bank to deliver excellent customer service and drive efficiency and sales through robust digital and payments capability.

According to Odubiyi, Sterling Bank intends to become a consumer banking franchise of choice for Nigerians through the provision of customer-centric and disruptive solutions such as Farepay, Specta, Switch, Snapcash, Social Lender, Saf Retail and i-invest, among other products that are changing the ways they access financial services.

He said the bank of the future must understand the consumer of the future and address their needs, adding that the bank will adopt agile methodology and journey thinking to improve speed to market and the customer’s experience.

http://www.businessdayonline.com/investors-upbeat-sterling-banks-growth/

Sterling Bank Plc on Friday reported a profit after tax of N3.1 billion on gross earnings of N39.8 billion for the first quarter ended 31st March 2018.
The impressive first quarter net income is an improvement on net income of N1.9 billion for the corresponding period of 2017, representing an increase of 65.2 per cent.

A further review of the financial performance indicated that net loans and advances increased by two per cent to N609.8 billion, customer deposits rose by 4.9 per cent to N718.5 billion, while total assets (excluding contingent liabilities) were relatively flat at N1.05 trillion.

Commenting on the financial performance, Abubakar Suleiman, the Chief Executive Officer of the bank, said: “We are pleased to be starting 2018 on a good note, by sustaining the strong performance delivered in 2017 with growth across key financial indices. This demonstrates strength and is indicative of our outlook for the financial year.”

Remarkably, the bank’s gross earnings grew by 39.3 per cent to N39.8 billion from N28.6 billion in the first quarter of 2017, with the Improvement in earnings directly linked to measured growth in retail lending as well as a 90 per cent increase in transaction banking revenues.

“Our net operating income also grew by 34.2%, aided by a 50% reduction in impairment charges. We continued to experience a significant improvement in asset quality as cost of risk declined by 140 basis points to 0.8% from 2.2% in 2017. Overall, Profit after Tax (PAT) rose by 65.2% to N3.1billion resulting in a 410 basis point increase in Return on Average Equity to 12.8%,” Suleiman further stated.

He added that Sterling Bank is actively mobilising private sector capital to solve some of the most pressing social and economic needs of Nigerians.

He said: “We have aligned the bank’s business model to offer financial and non-financial solutions to key areas which are at the HEART of Sterling Bank – Health, Education, Agriculture, Renewable Energy, and Transportation.”

In the period under review, the bank successfully launched Farepay, a contactless payment system as part of its transport sector intervention in Lagos State.

Unveiled by Yemi Odubiyi, Executive Director, Operations and Services, at a grand launch event in Lagos, the payment system which is ensuring efficient fare collections will plug pilferage and revenue leakage making it possible for the sector to attract the much-needed capital investment required to transform it.

Sterling Bank’s goal is to replicate this nationwide as it remains resolute in its conviction that the transport sector is an important catalyst for socio-economic growth and sustainable development.

ahmbal:
the program before he comes CEO, this has been on for the past 4years, always ready before you comment and remember to use your sense

- Thank you for telling him that there is something called succession planning. Plus, see below the NEW CEO's profile:

Abu is currently Executive Director, Finance & Strategy, a role he has served in since May 2012. Abu has two decades of relevant experience spanning tax advisory, business audit and financial services. He holds a B.Sc. in Economics from the University of Abuja and an [b]M.Sc. in Major Programmes Management from the University of Oxford. He is also an alumnus of Wharton School, INSEAD, Harvard and Said Business Schools. [/b]In addition to being the Executive Director, Finance & Strategy, a portfolio comprising Finance & Performance Management, Strategy, Communications & Branding as well as Human Resource Management.

Some of his outstanding contributions spanned the leadership of the bank's Corporate Treasury and Finance functions, Mergers & Acquisitions having served as Integration Director & Interim CEO of Equitorial Trust Bank ("ETB" prior to its consolidation into Sterling Bank. Abu is a seasoned executive with exceptional ability and his emergence underscores the quality of our leadership pipeline at executive level. His appointment is a result of a rigorous and wide-reaching process conducted as part of the bank's succession planning.

A senior Nigerian academic has said most Nigerian graduates cannot write, speak and think, and cannot function properly as professionals. They lack the requisite skills and are largely unemployable.

Dr. Doyin Salami, an Associate Professor and Faculty Member at the Lagos Business School, made this assertion at the 2017 TAMS Summit in Lagos recently where he was the Keynote Speaker.

The university don, who delivered an address on the theme, “Boosting Employee Performance beyond Pecuniary Benefits”, described as pitiable the inability of most Nigerian graduates to either write, speak or independently think for themselves, as experienced from the several job interviews he had conducted.

Click here to view and download video of Dr. Salami's speech or read full story >>http://www.jalupon.com/nigerian-graduates-cannot-write-speak-think-unfit-employment-salami/