₦airaland Forum

FCMB GETS $50M FROM AFDB, INCREASES LENDING TO HIGH IMPACT BUSINESSES

Women empowered businesses and local enterprises involved in agribusiness, manufacturing, health care, and renewable energy will have access to long term funding from First City Monument Bank (FCMB), courtesy of a $50m credit facility from the African Development Bank (AfDB).

The $50m credit line will narrow the lending gap to underserved segments and complement FCMB's lending efforts and operations in the Nigerian market. AfDB will disburse the funds to FCMB before the end of this year.

Mrs Yemisi Edun, Managing Director, FCMB, thanked the African Development Bank for having confidence in the Bank, saying the credit line would help it increase lending to high impact sectors of the Nigerian economy.

She said, "The $50m credit line will increase access to finance for women empowered businesses and enterprises involved in agribusiness, manufacturing, renewable energy and healthcare, enabling them to build back better post-COVID.

"We are delighted that a minimum of 30 per cent of the funds will go specifically to women empowered businesses, which would, in turn, contribute to stimulating gender equality and empowerment. Remarkably, it aligns with FCMB's transformative agenda of boosting household economic resilience by improving women's access to credit and work opportunities."

In addition to the $50m, the AfDB will provide a technical assistance grant of $200,000 to FCMB through its Affirmative Finance Action for Women in Africa (AFAWA). The Women Entrepreneurship Finance Initiative, an international partnership supporting women entrepreneurs in developing countries, supports AFAWA. The assistance grant complements the loan and will further strengthen training, monitoring and reporting by the Bank.

In a statement, AfDB's Director of Financial Sector Development, Mr Stefan Nalletamby, said, "We are pleased to support FCMB's strategy to become a dominant player in addressing the funding needs of women-empowered and local enterprises. This project will extend valuable resources to critical but underserved segments during the ongoing COVID-19 pandemic, with its adverse macroeconomic impact".

AfDB added that the project also advances its ten-year strategy and is consistent with three of its high-five strategic priorities. These are industrialise Africa, Feed Africa, and improve the quality of life for the people of Africa. This also aligns with the Nigeria Country Strategy Paper 2020-2024.

Recently, FCMB secured a $10 million facility from Oikocredit, a major global social impact investor and co-operative institution based in The Netherlands, to upscale its impressive financial support to SMEs and the agribusiness sectors in Nigeria.

FCMB is a member of FCMB Group Plc, Nigeria's leading and most diversified financial holding company with subsidiaries that are market leaders in their respective segments. The Bank has built a strong base in various sectors of the nation's economy by consistently offering cutting-edge solutions to its customers across segments.

Having successfully transformed into a retail banking and wealth management-led group, FCMB expects to continue to distinguish itself through innovation and the delivery of exceptional services.
To find out more about FCMB, please visit www.fcmb.com.

FCMB LIMITED ANNOUNCES APPOINTMENT OF MRS. OLUWATOYIN OLAIYA AS EXECUTIVE DIRECTOR, RISK & COMPLIANCE


The Board of Directors of First City Monument Bank Limited (the Bank) have announced the appointment of Mrs. OluwatoyinOlaiya as Executive Director, Risk & Compliance. This follows the approval of the Central Bank of Nigeria (CBN).

Mrs. Olaiya is a finance and risk management professional with over 30 years of experience. Prior to her appointment, she was the Chief Risk Officer / Divisional Head Risk Management at FCMB, overseeing Enterprise Risk Management, Risk Policy, Credit Administration, Credit Underwriting and Monitoring. She has been responsible for redefining the Bank’s risk policies, improving risk management culture across the institution, and proactively ensuring the implementation of a cyber security strategy for the Bank.

She started her career as an auditor with KPMG, from where she moved to different roles in domestic operations, internal audit, business development, financial control, compliance and enterprise risk management in the banking industry. She joined FCMB in 2016 from Sterling Bank, where she was the Acting Chief Risk Officer.

Mrs. Olaiya is an Accounting graduate of the University of Ife (now Obafemi Awolowo University), and a fellow of the Institute of Chartered Accountants of Nigeria.

FCMB LIMITED ANNOUNCES APPOINTMENT OF MRS YEMISI EDUN AS THE NEW MANAGING DIRECTOR AND SUCCESSOR TO MR ADAM NURU


The Board of Directors of FCMB Group Plc have announced the appointment of Yemisi Edun as the Managing Director of First City Monument Bank (FCMB) Limited.

This announcement is subsequent to the end of service of the bank’s former Managing Director, Adam Nuru.

The Board had earlier reviewed media allegations made in late 2020 against the former MD and did not establish any contravention of its policies. The Board of Directors of FCMB thanks Mr Nuru for his years of dedicated service and wishes him all the best in his future endeavours.

Prior to this appointment, the new Managing Director, Yemisi Edun was the Executive Director/ Chief Financial Officer of the bank and previously served as the acting Managing Director.

With a work experience spanning nearly 35 years, Yemisi Edun holds a Bachelor’s degree in Chemistry from the University of Ife, Ile-Ife and a Master’s degree in International Accounting and Finance from the University of Liverpool, United Kingdom.

She is a Fellow of the Institute of Chartered Accountants of Nigeria and a Certified Financial Analyst, CFA®️ Charter holder. She is also an Associate Member of the Chartered Institute of Stockbrokers; an Associate Member of the Institute of Taxation of Nigeria; a Member of Information Systems Audit and Control, U.S.A; and a Certified Information Systems Auditor.

World Environment Day - FCMB Restates Commitment to Environmental Sustainability; Expands Support To Renewable Energy Sector

First City Monument Bank (FCMB), has re-assured that it will continue to champion, execute and support initiatives that would enhance the ecosystem, as well as tackle some of the adverse effects of climate change and other challenges facing the environment. According to the Bank, this is in recognition of the fact that a cleaner and more sustainable environment is key to building a better world for present and future generations.

FCMB gave the assurance in a statement to commemorate this year's World Environment Day (WED), which held on June 5, 2021 under the theme, "Ecosystem Restoration". The annual WED is one of the principal vehicles through which the United Nations stimulates worldwide awareness of the environment and climate issues. It also serves as an opportunity to remind humanity of the need to protect the environment, as well as encourage responsible conduct by communities, enterprises and individuals in preserving and enhancing it.

Through the years, FCMB, under its Corporate Social Responsibility (CSR) philosophy, has maintained active participation in the WED. The institution does this by organizing and hosting various educative programmes, in partnership with the Nigeria Conservation Foundation and other stakeholders. For this year's edition, the Bank mobilised staff, hundreds of students and young Nigerians nationwide to plant trees in the six geopolitical zones of the country, as part of its "Go Green" initiative. The tree planting exercise, which also forms part of the Bank’s Employee Volunteering Scheme, would go a long way towards restoring the balance of the ecosystem and improving the environment.

The Bank's sustainability agenda is underpinned by the nine pillars of the Nigerian Sustainable Banking Principles (NSBPs) developed and adopted by the Bankers’ Committee in 2012. The NSBPs encourage Banks to promote economic growth, business opportunities, and enhance innovation and competitiveness, whilst protecting communities and the environment in the course of daily activities.

Speaking on FCMB's commitment to environmental sustainability and the WED, the Group Head, Corporate Affairs, Mr. Diran Olojo, stated that these interventions are part of the Bank's progressive journey and contribution towards making the world a better place. According to him:

"We are aware that climate change is one of the defining issues of our generation, threatening the existence and development of humanity and businesses. In Nigeria, the devastating effects of climate change are being felt through land degradation, deforestation, drought, flood, high temperature, migration, low agricultural output, unemployment, among other, negative effects. These limit opportunities for human and business growth, which is why we are committed to playing an active role to address these challenges as one of the major contributors to the development of Nigeria".

He assured that:

"As a responsible and futuristic corporate organisation, our business decisions and operations will continue to take into consideration factors that could negatively impact the environment, society and hinder long-term growth prospects. We are also focused on creating opportunities that foster realisation of the personal and business aspirations of our customers, other stakeholders and Nigeria in general in a sustainable manner. Our work in the renewable energy sector and advocacy on issues relating to the climate and environment amplify this commitment".

FCMB has over the years driven and offered significant support to initiatives that would ensure environmental protection and sustainability. The Bank executes these through robust policies and procedures embedded in its Social and Environmental Management System (SEMS).

It is worthy of note that FCMB has taken the lead in the renewable energy sector, through capacity building sessions, access to funding and provision of opportunities for developers and end-users to connect in meaningful, productive ways. The Bank has executed credit enhancement agreements worth N20.9 billion to support renewable and energy efficient projects. This is meant to improve the supply of energy, enhance cost efficiency and access to clean energy.

In addition, the lender has consistently grown its loan portfolio to mini-grid developers, commercial and industrial energy efficiency providers, and solar home system distributors. For instance, it is on track to finance projects that would deliver over 10,000 new solar-powered electricity connections to households and businesses across various communities by the end of 2021. The Bank has also developed a product for Mini-Grid developers, under the World Bank/Rural Electrification Agency (REA) of Nigeria scheme. Through this, businesses in the renewable energy sector can access loans of up to 70% of the project cost without collateral. FCMB is also set to roll-out loans to households to purchase solar home systems. This follows a successful introduction of this product for its employees to enable them procure solar power systems at a reduced rate, for use in their homes.

Among other environmental sustainability programmes, FCMB engages in corporate recycling projects through which wastes generated at its Head Office in Lagos and some of its branches in Oyo and Abia states are collected and recycled for other valuable purposes. Also, more than 100 branches of the financial institution nationwide run on solar power. This has drastically reduced carbon emissions and helped to create a cleaner environment, while delivering uninterrupted and real time services to its esteemed customers. In recognition of this feat and several other strides, FCMB was conferred with a "Sustainability Award" in March 2021 by Starsight, a leading power utility organisation.

FCMB recently took a step further by unveiling a plan to fully upscale its solar power system in all branches in Nigeria by 2025, as well as reduce cost of consumables by 75% through constant improvement in the automation of all its operating procedures. The Bank also engages its stakeholders on opportunities that solar energy provides, to enable them appreciate the importance of a carbon free environment.

Since 2016 the Bank has also consistently supported the Lagos State Government’s Cleaner Lagos Project to achieve a cleaner greener environment. The financial institution also carries out an awareness initiative, tagged "Sustainable Saturday", where posts are shared across its social media handles, encouraging individuals and organisations to take positive actions in maintaining a safe and cleaner environment.

Analysts have expressed confidence that FCMB's conscious interventions in promoting environmental protection and sustainability would go a long way to enhance its competitiveness and performance in the new world economic order.

For more information about FCMB and its unique propositions, please visit www.fcmb.com.

FCMB Introduces Paperless and Cardless Transactions at Branches, ATMs and POS Terminals


Customers of First City Monument Bank (FCMB) can now seamlessly carry out an array of transactions with just their fingerprints and Bank Verification Numbers (BVNs). This followed the introduction of paperless transactions within the Bank's over 200 branches in Nigeria. With this innovation, customers no longer require deposit slips, withdrawal booklets, or cheque books to carry out over-the-counter transactions.

In addition, FCMB customers now have the opportunity to enjoy cardless banking experience by just using their fingerprints to withdraw and deposit cash at 575 select biometric Automated Teller Machine (ATM) points of the Bank spread across the country and via biometric Point of Sales (PoS) terminals available within the Bank's branches.

Beyond this, the 575 biometric ATMs of FCMB can be used by customers for intra and interbank transfers as well as change of PIN and data update. The simple, convenient and secure cardless services are available for use when customers do not wish to go out with their debit cards or these are inaccessible due to loss or damage.

With these innovations, FCMB has again taken a bold step towards driving value-added digital banking solutions in Nigeria that would significantly promote financial inclusion.

Commenting on the introduction of the cardless service, the Executive Director, Retail Banking of FCMB, Mr. Olu Akanmu, described it as another turning point and milestone in the digital transformation drive of the lender.

According to him, "the FCMB cardless biometric transaction on ATM is a pioneering innovation in digital banking in Nigeria that provides wider access to ATM usage for many more people who may not have debit cards. It delivers greater financial inclusion. Its biometric identity factor also delivers enhanced security and convenience for customers, taking their digital experience to the next level".

Also speaking on the paperless over-the-counter transactions, the Divisional Head, Service Management and Operations of FCMB, Mr. Oluwakayode Adigun, assured that, "we will continue to re-engineer our processes and services by leveraging on emerging technologies and innovation to offer seamless customer experience at all our channels and touch-points".

With customer base in excess of 6 million, over 200 branches spread across Nigeria and upward growth in overall performance, FCMB has consistently upscaled its operations, product and service offerings to empower and delight Nigerians. The Bank's resolve to create a unique user experience for customers has inspired it to successfully create opportunities, while also supporting their individual and business aspirations in various segments.

For more information about FCMB and its unique propositions, please visit www.fcmb.com.

The Founder of FCMB Group and notable philanthropist, Otunba Olasubomi Balogun (CON), has formally handed over his Otunba Tunwase National Paediatrics Centre (OTNPC), located at Ijebu Ode, Ogun State, to the management of the University of Ibadan and the University College Hospital (UCH). The gesture is part of his conscious efforts towards ensuring that Nigerians, especially children, have access to world class healthcare facilities and specialised treatment services. The cost of the hospital is estimated at over N5 billion.

The transfer of the hospital to UI and UCH was preceded by the signing of a Memorandum of Understanding (MoU), which clearly states how the Centre is to be managed by the parties, on October 1, 2020 in Lagos.

The formal hand over ceremony, which took place on January 19, 2021 in the premises of the hospital, was attended by the Group Chief Executive, FCMB Group and Board Chairman, Otunba Tunwase Foundation, Mr. Ladi Balogun; the Group Head, Corporate Affairs of FCMB, Mr. Diran Olojo; the Acting Vice Chancellor of the University of Ibadan, Professor Adebola Ekanola, (who was unavoidably absent), was represented by the Provost of the College of Medicine, Professor Yinka Omigbodun; the Management of University College Hospital, led by its Chief Medical Director, Professor Abiodun Otegbayo; the Interim Transition Management Committee of OTNPC led by the Chairman, Dr. Adeyinka Hassan, as well as other eminent personalities.

In his address, the Group Chief Executive, FCMB Group, Mr. Ladi Balogun, who represented the Founder of FCMB Group, Otunba Olasubomi Balogun, gave an insight to what inspired the business mogul to take up the extraordinary philanthropic project almost 11 years ago.

He recalled that, "the inspiration by Otunba Olasubomi Balogun to build this great establishment started when he took over the children's hospital at the UCH Ibadan, where he was exposed to the true plight of sick children and the high demand for world class facilities to cater for their needs in a sustainable manner. An interaction with the then Minister of Health, late Professor Olikoye Ransome-Kuti, further propelled Otunba Balogun to do more in terms of the provision of world class medical facilities. The exposure and interaction later became the brainchild of this N5 billion establishment, credited as a prototype of the Ormond Street Children's Hospital in London, United Kimgdom".

Speaking on the Banking icon's decision to hand over the control and management of the Centre to UI and UCH, Mr. Balogun disclosed that, "at the end of its construction, some institutions requested to manage the hospital, but Otunba Balogun strongly believes that the University of Ibadan and University College Hospital are in a better position to do that effectively and further raise its status, considering their respective pedigrees.”

He further explained that, "following the signing of the MoU last year by all the concerned parties, the resolution is that while the University College Hospital has been mandated to provide clinical services, the University of Ibadan will engage in research and other academic works, whilestudents from UI would also be involved as part of the training".

Appreciating the gesture, the Chief Medical Director, UCH Ibadan, Professor Otegbayo, said that it is an indisputable fact that the health and welfare of society are critical to the development of any community.

According to him, "we at the UCH are grateful for this opportunity to contribute to the well-being of residents in Ijebu community, Ogun State and Nigeria at large. We promise that as soon as all the legal nuances are sorted out, we shall fully move in and continue with what UCH is known for; unequalled provision of health care services, research and training”.

Commenting further on Otunba Balogun’s continuous generosity, he stressed that, "the UCH is not just witnessing the generosity and benevolence of Otunba Balogun now. Many years ago, he endowed the Otunba Tunwase Children Emergency Ward in UCH and he has been funding the Ward since then. A lot of children have been saved there, whiletraining and research in Paediatrics have been going on unhindered.”

In her remarks, the Provost, College of Medicine, Professor Omigbodun, expressed delight at the official hand over of the hospital to both the university and UCH. She lauded Otunba Balogun for handing over the management of the hospital to the institutions.

According to her, "we are extremely grateful to Otunba Subomi Balogun for this generous contribution to the medical sector. This Centre would certainly contribute immensely to the training and research activities carried out by our academics. It is our hope that other Nigerians who have achieved greatness in their various fields would emulate him”.

Otunba Subomi Balogun is a well-known statesman, entrepreneur and philanthropist with several charitable projects and programmes for the people of his hometown of Ijebu-Ode, as well as many other parts of Nigeria. His philanthropy ranges from the provision of this world class medical facility to education, capacity building, youth empowerment and other socio-economic initiatives, aimed at enhancing the development of humanity and society in general.

.........Legal expert says bank can take action against peddlers



The Bank Customers Association of Nigeria (BCAN) late Sunday detested in unequivocal terms the attempt by some social media commentators and publishers to disparage the image of the First City Monument Bank (FCMB) in the face of the ongoing controversies over alleged extra-marital affairs of the bank’s Managing Director, Mr. Adam Nuru, describing the act of the commentators as unjustifiable.

The National President of the umbrella body of bank customers in Nigeria, Dr. Uju Ogubunka, in a chat with BRTNews.ng, condemned the ongoing efforts of some agents on social media platforms to denigrate the FCMB brand through photo-shopped posts that don’t represent the ideals the bank had been noted for over the years.

The chartered banker and former Registrar/Chief Executive Officer of the Chartered Institute of Bankers of Nigeria (CIBN), while reacting to enquiries by our correspondent on the alleged infidelity of the bank’s chief and raging calls for his sack and other issues relating to the saga, said most of the calls were not logical when analysed within the context of professional ism and implications for the financial system.

According to him, since the issues being raised remain just allegations there is need for everyone to wait until investigations promised by the bank’s board on the matter are completed and the findings made known that passing judgment on the embattled Mr. Nuru can be reasonable.

He said: “This is, according to you, an allegation. No right thinking person relies on allegation to take action. Perhaps, the exception is investigative action. As per the question on people calling the CBN to sack the MD, CBN is not the employer of the CEO. So, action, if there is any to be taken, is not for the CBN to take.

“Again on the denigrating postings by some Nigerians or commentators on social media about FCMB, I want to say it is not the business of bank customers to take position on issues that are said to be allegations. So, it will be honourable for BCAN members to ‘mind their business’

“The Nigerian banking industry has a Code of Ethics which can situate the issue when or if investigated and results show a breach of the ethical code. I suggest that premium should not be placed on the unverified and unconfirmed “allegation”. Science and technology have advanced that determination of paternity can easily be ascertained.

“There is no need to tarnish or damage peoples’ and institutions’ names, based on allegation(s)”, Ogubunka stressed.

Over the past few days, some social media abusers and commentators have thrown caution to the winds by ‘photo-shopping’ the FCMB logo and inscribing ‘Your wife and I’ rider on it thereby portraying the bank in bad light.

Commenting on such acts from a legal perspective, a legal practitioner, who spoke on the condition of anonymity, said “all those engaging in that type of act are actually ignorant of the law.

“In all honesty, such acts are libelous and if the FCMB board or even shareholders decide to take legal action against any of them, including those sharing such detestable messages through their platforms, they will all be in serious trouble.

“For God sake, how could anybody descend so low to be tampering with the image of a legal person all in an attempt to validate an allegation against the MD which is yet to be legally proved?”, the lawyer queried.

Let me first out myself. I am a former Employee of FCMB. I worked there for a bit in the securities trading arm, CSL. CSL is a legendary institution that continues to be the corner piece of the Nigerian Capital Market. I was the Head of Local Business.

One thing that attracted me to the firm was its legacy. Its founder, Chief Subomi Balogun was a hero of sorts to young Stockbrokers like myself. He had built the institution from his boot straps to the behemoth it is today with over 50,000 Shareholders.

My first day at work, I was taken in a ride by the then Managing Director Ladi Balogun on his way to a meeting with Aliko Dangote and in those few minutes he perfectly situated the values that drove the institution. Ethical standards and integrity were the words he kept repeating as he stressed the need for me to join as he attempted to reclaim market share in the Local Securities market.

I stayed with the Bank for over 15months and having worked in several financial instutions including about four Banks and several stockbroking and Asset Management Firms, I can safely say that the ethical standards at FCMB stand shoulder high above its peers. The FCMB woman is well regarded, with access to the very top to discuss her issues. They even have the FCMB Woman Platform which seeks to build cohesion and gives the FCMB woman the much needed push to fulfil whatever it is is her career goals.

That said, the news of the alleged dalliance between the well regarded MD Mr. Nuru and the former staff leading to the supposed siring of two kids by him while still in her marriage and ultimately leading to her husbands passing has captured the imagination of Nigerians powerfully.

Daily the keen observer is assailed with all sort of social media commentary, memes and the rest on the matter. I hear an online petition has been in circulation with varied numbers being quoted as signatures asking both the FCMB and the CBN to act on the matter. A memo allegedly sent out by Group Managing Director Ladi Balogun quoting that the issue could derail the achievements’ of the Bank in the just concluded year is leaked, fueling calls for his removal.

All these have thrown up very important questions on the ethical behaviors of Bankers and its effect on the Bank’s public image and much more importantly the profitability of the Bank on the one hand and the safety of public funds in its custody on the other. It is also putting the regulator to task on the issue.

But tarry awhile. Why all these fervor on an unsigned petition innocuously posted on social media. How do we move against a Man based on a mere allegation without anybody coming out to own up to the allegations. Up until this point as I write, I have not seen a signed petition accusing the man of all of these allegations. What we are seeing so far are online petitions from people on the back of the anonymous triggerr post. Should we now then hang a man based on this? Based on public push which is as is the case quite emotional.

The arbitrariness of this matter and others like this especially on social media is scary. What this portends is that if Nuru falls then anybody can fall based on any story thrown up there just by anybody. Before I am castigated, please note that I am not taking a stand as to Mr. Nuru’s innocence or not or if he breeched Banks ethical rules or what not. All I am just saying is that there has been no concrete complaint from either the Mr. Thomas accusing this man of this heinous crime, nor an official complaint from the Woman alleging rape, forceful sex or any type of abuse using his power as a boss over her. We have not even seen DNA certification confirming the parentage of the children. All that is in the public domain are pictures of children who have an uncanny resemblance to Mr. Nuru. Are there sufficient factual and legal evidence to begin to push for the Mr. Nurus head.

In the last five years, Nigerians have witnessed the growth of what some of us have called digital mobs who unlike their physical counterparts who roast with used tyres and bonfires, these ones do thier with words on social media. The arbitrariness and disregard for processes and institutionalized structures for arbitration continues to weaken the levers that hold society together pushing us closer to anarchy.

The FCMB I know have well tested and well-ordered structures for getting relieve if your rights have been trampled. I have gone through it as a boss. I had lost my temper during a heated meeting and unwittingly threw a pencil at a junior staff. She went through the process and I faced a disciplinary Committee and was found guilty. The system didn’t care that as at that time I Was number 3 in hierarchy in our subsidiary and that this lady was very near the bottom in hierarchy, I was made to face the music. Same I am very confident would be the case if there is an official approach to this matter by any complainant even if it is me being Mr. Thomas Landlord.



The major issue here is not even Mr. Nuru and his supposed errant private member but our societies’ eagerness to throw caution and common sense into the gutters in matters like this while putting on the toga of arbitrariness in pushing this types of issues. I fear that our institutions for fear of Market share can bow to public pressure and take decisions that would further weaken them and infringe on the human rights of their people.

Please in conclusion, where is Mrs Thomas in all of these for only she can solve this problem. Her position would either indict or free Mr. Nuru, she has to answer some very salient questions – was she in an affair with Mr. Nuru while at FCMB, was she in that affair willingly or not and who truly is the father of the child and where she has no answer to the last question, would she willingly take a DNA test on this matter.

My advise to FCMB is to stand firm by its rules, do not be pressured to take hasty decision by a fickle social media crowd who will move on to the next hot gist, while you would have destroyed not only the career of a man who is possibly innocent and in the same vein destroy the fabrics that hold your institution together. Seek the facts and base your decision on those facts.

I wish you a fruitful review of the matter. But will I close my account with FCMB cos the MD has two children with a married staff? I think not. Thank you



*Written By Joseph Edgar

First City Monument Bank (FCMB) has again proved its mettle as a customer-centric financial institution that cares for the comfort of its customers by opening a world class Cash Centre at Ikorodu, Lagos.

The ultra-modern Cash Centre, located at Oluwarotimi Adeola Street, Ori Okuta Junction, Off Isawo Road, Ajaguro-Owutu, Ikorodu, takes into consideration the convenience of residents and businesses present within Owutu and its environs, including the popular Ikorodu garage, Agric Junction and Haruna areas. The development, which is coming two weeks after the Bank opened another Cash Centre at Ipaja, a suburb in Alimosho local government in Lagos, is in line with the commitment of FCMB to bring financial services closer to the populace to deepen financial inclusion, especially in densely populated areas like Ikorodu where a large number of people desire excellent banking services.

The Cash Centre, which commenced operations on December 21, 2020, is powered by solar energy, and equipped with latest traditional and digital banking infrastructure that ensures convenient and secured financial transactions for customers in a relaxed and tranquil environment. This is in addition to the team of highly experienced staff deployed to attend to the needs of existing and potential customers of the Bank.

Speaking on the opening of the FCMB Cash Centre at Owutu, Ikorodu, the Managing Director, Mr. Adam Nuru, reaffirmed the commitment of the Bank to grow its network to meet the individual and business aspirations of its ever-increasing customer base across segments.

According to him, "this is another turning point in our commitment to ensure that Nigerians enjoy the very best of Banking experience from FCMB. We consider our presence at Owutu, Ikorodu as another great opportunity to further cement our relationship with Lagos and in turn, drive development in this part of the state. Ikorodu is one the fastest growing residential and business hubs in Lagos. As an inclusive lender, we recognise that the only way we can succeed is when we engage and support our customers to succeed.'’.

Also commenting, the Divisional Head, Service Management of FCMB, Mr. Oluwakayode Adigun, said, "having a second physical outlet in Ikorodu to support our long existing Branch in the town reinforces our customer-centric approach. We assure that individuals and businesses at Owutu and its environs will enjoy the valued-added offerings which FCMB has been known for since its establishment 37 years ago. We will also use the opportunity to further optimise our strategic digital transformation drive by deploying channels that would promote rapid growth in the area. We urge existing and potential customers to take advantage of the benefits which the Cash Centre offers by banking with FCMB".

FCMB, as a foremost financial institution in Nigeria, has continued to wax stronger by re-engineering its processes and leveraging on emerging technologies to offer seamless customer experience at all channels. This is in line with its values of Execution, Professionalism, Innovation and Customer-focus (EPIC)". With its more than 6 million customer base, over 200 branches spread across Nigeria and upward growth in overall performance, the Bank has consistently proved its mettle as a resilient and dominant player in the Nigerian financial services industry.

These strides have earned the Bank several accolades and awards. The Bank recently emerged as winner of the prestigious award of Best SME Bank in Africa at the Asian Banker Middle East and Africa Regional Awards. In 2019, the lender was conferred with the award of "Most Business-Friendly Bank" at the BusinesDay Banking and Finance Awards. It equally bagged the award of "Excellence in Customer Experience" at the Finnovex Award held last year. In addition, FCMB was rated as the number one Bank for SMEs in Nigeria, courtesy of the Nigeria Banking Industry Customer Experience Survey report by KPMG.

With a clear understanding of its market and environment, FCMB is well positioned to continue to create value by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.

For more information about FCMB and it's wide range of financial services, please visit www.fcmb.com

First City Monument Bank (FCMB), a foremost financial services provider in Nigeria, has been voted as the Best SME Bank in Africa. The Bank won the prestigious award at the Asian Banker Middle East and Africa Regional Awards held virtually on November 5, 2020. The development is another confirmation of FCMB’s outstanding performance in offering exceptional services, including funding, capacity building and other value-added supports, to Small and Medium Scale Enterprises (SMEs).

The Asian Banker is an authoritative platform for strategic business information for the financial services industry worldwide. The annual Awards organised by the firm is one of the most comprehensive, transparent and respected in the industry covering the full spectrum of topics and areas that constitute the financial services system.

According to the Asian Banker, FCMB emerged as the Best SME Bank in Africa following, “series of online surveys across the region to gather feedback from thousands of customers per market. In the survey, we also asked customers to rate how well their main Banks have helped them during the crisis. The results and rankings are a true reflection of the voice of the customers”.

The organisers further stated that, “FCMB has introduced various digital initiatives into the SMEs segment, such as digital loan products (Quickloans) and its New Mobile banking platform. In addition, the Bank launched a platform, which was a first of its kind, to help women owned businesses scale up, by leveraging access to financing schemes, mentorship programmes, as well as training and networking opportunities. FCMB has equally helped SMEs to enhance capacity, thereby improving their business operations, connect with peers and access to trusted service professionals. The Bank has a 25% market share in the SME business, and in 2019 had more than 300,000 new accounts in this segment. We commend FCMB for its incredible contributions towards ensuring the growth and sustainable development of SMEs within the region”.

Commenting on the award, the Managing Director of FCMB, Mr. Adam Nuru, described it as another milestone and a clear demonstration that the various strategic initiatives and solutions offered by the Bank are yielding the desired results and appreciated in Nigeria and internationally.

According to him, “we are excited to have been recognised by the Asian Banker for our market leading propositions and support to SMEs, which continue to make real impact on businesses and the economy in general. This award is another validation that we are on track in our customer-centric approach to financial services delivery. We will continue to expand the frontiers of our innovation and go the extra mile to deploy offerings that consistently enhance customer experience. We thank the Asian Banker and the respondents for considering us worthy as the Best SME Bank in Africa. We dedicate this award to our customers who have made FCMB what it is today’’.

Speaking while receiving the award, the Executive Director, Business Development, FCMB, Mrs. Bukola Smith, stated that, “as a resilient, inclusive and responsive institution, we have continued to deploy solutions to transform the challenges posed by COVID-19 to opportunities for our customers by leveraging on our robust technology, digital transformation drive and highly professional team. Our SME Banking offerings have significantly changed lives through job and wealth creation, among other benefits. This is because, we believe that the only way we can succeed is when our customers succeed. We are very proud to be the Best SME Bank in Africa, particularly coming after KPMG rated us as the Best SME Bank in Nigeria in the 2019 Nigeria Banking Industry Customer Experience Survey report. This latest award will undoubtedly inspire us to perform better”.

For more information about FCMB and its propositions for SMEs, please visit www.fcmb.com/business-banking.

First City Monument Bank (FCMB) has restated its commitment to provide the very best of service delivery and value-added offerings that will consistently enhance the experience of its teeming customers at every touch point. The Bank further assured that it will continue to leverage on its solid business models, highly professional staff, innovation, bespoke solutions and technology to turn the aspirations of customers to life changing opportunities.

FCMB gave the assurance in a statement to commemorate this year’s international Customer Service Week, holding from October 5 to 9, 2020, under the theme, “Dream Team”. The theme essentially highlights the importance of teamwork in providing outstanding service to all customers at this challenging period.

In the statement, FCMB announced several exciting activities to make this year’s Customer Service Week memorable, including a customer appreciation drive whereby customers who buy airtime worth N500 and above via the Bank's *329# USSD channel get a 10% bonus add-on all through the week; and a virtual question and answer session between customers and the Divisional Head, Service Management & Technology. In addition, cakes will be delivered to children who operate kiddies account with FCMB and whose birthdays fall within the customer service week.

Employees of the Bank are also not left out of the customer service week celebration. A virtual party will hold on Friday, October 9, during which some employees will be recognised and celebrated for their achievements and overall championing of FCMB’s core values of Execution, Professionalism, Innovation and Customer-focus (EPIC).
Commenting on the 2020 edition of the Customer Service Week, the Divisional Head, Service Management & Technology of FCMB, Mr. Oluwakayode Adigun, said “This year's Customer Service Week resonates deeply with us, because we pride ourselves as an institution that is made up of world class professionals driven by a culture of excellence. In addition, we consistently go the extra mile to develop and offer solutions that align with the lifestyle and aspirations of the various segments of the population we serve. For all of these, we are again using the opportunity of the customer service week to express our appreciation to our stakeholders".
With over 6 million customers as well as over 200 branches spread across Nigeria and consistent growth in overall performance, FCMB has proved to be a resilient and dominant player in the Nigerian financial industry.
The Bank has deepened and sustained its support to Nigerians and the economy, through various interventions, to mitigate the effect of the pandemic in the country, including the recent reduction of interest rates on all consumer loan products, to help customers free up extra income to meet other expenses in a convenient manner. FCMB also recently launched a Health Advisory Service, an on-demand health information service in collaboration with Wellvis.org, which makes it easier for Nigerians to access quality healthcare from the convenience of their homes, offices or even on the go.

First City Monument Bank is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. For more information about how FCMB can support fulfilment of your aspirations, please visit www.fcmb.com.

First City Monument Bank (FCMB) has again lived up to expectation as a customer-centric and responsive Bank. The latest in the series of actions taken by the financial institution is a reduction of interest rates on all consumer loan products.

The reduction, which took effect from August 12, 2020 applies to all Salary Plus Loans, including Premium Salary Plus, Auto Loans and Home Loans, of FCMB, whether they are newly disbursed or already running loans. The slash of interest rates means that customers will be repaying lower amounts each month and can also borrow higher amounts than previously. In addition to the benefits of interest rates reduction, customers also have the option to restructure their consumer loans by opting for reduced tenure instead of reduced repayment amount.

In a statement, FCMB explained that the decision to reduce interest rates and restructure its consumer loan products in a more flexible manner are the latest initiatives in response to the current economic realities induced by the novel COVID-19 (coronavirus) pandemic, which has impacted negatively on personal and households income and expenditure, as well as on businesses and the socio-economic environment in general.

FCMB’s bold move to cut interest rates has been applauded by customers, as it will go a long way in enhancing standard of living by helping customers free up extra income to boost purchasing power and meet other expenses in a convenient manner. The development is also expected to have a multiplier effect on the Nigerian economy in terms of stimulating growth and development.

Commenting on the interest rate reduction and restructuring of repayment tenure, the Executive Director, Retail Banking of FCMB, Mr. Olu Akanmu, said, “we realise the financial challenges confronting our customers due to the prevailing economic situation caused by COVID-19. As a caring and responsive Bank, we are committed to give them all the support needed to ease the situation. This year alone, we have given out more than N30 billion in retail loans to over 475,000 customers. Because we have also digitized the application process for many of our loans, customers can get some loans instantly simply by applying on their mobile phone or the ATM. With
the reduction in interest rates, we expect to make positive impact in more lives by giving our customers the financial support they need, when it matters most”.

With a customer base of almost 6 million as at the end of June 2020, robust digital banking offerings cutting across mobile, internet and ATM platforms, as well as over 200 branches spread across Nigeria, FCMB offers bespoke financial solutions that align with the lifestyles of its existing and potential customers.

The Bank’s giant strides and consistent impressive performance in the retail segment of the Nigerian banking industry continues to receive positive affirmation. FCMB was conferred with the award of “Most Business-Friendly Bank” at the 2019 edition of the Business Day Banking and Finance Awards. It equally bagged the award of “Excellence in Customer Experience” at the Finnovex Award held last year.

In 2018, it won the prestigious award of ‘’Excellence in Retail Banking’’ at the New Age Banking Summit & Awards.

First City Monument Bank (FCMB) is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments.

Having successfully transformed to a retail banking and investment management led group, FCMB expects to continue to distinguish itself through innovation and the delivery of exceptional services.

For more information, please visit www.fcmb.com

First City Monument Bank Announces The FCMB Agritech EPIC Pitch 2020, In Partnership With Passion Incubator




Committed to “Redefining and repositioning Agricultural value chains during and post the COVID-19 era”


The agriculture sector in Nigeria and the larger African continent faces a number of challenges including climate and weather, rural-urban migration, lack of expertise and limited access to funding. While solutions to address these challenges have increased year on year with great success, more still has to be done before Africa can fulfil its potential of being the “food basket for the world”.

First City Monument Bank (FCMB), one of the biggest financial players in the development of Nigeria’s agriculture sector, has announced the 2020 edition of the FCMB Agritech Epic Pitch, through which it plans to sustain funding for early to growth-stage entrepreneurs to grow and scale their Agritech businesses.

In its 3rd Year, the FCMB Agritech Epic Pitch 2020 will be implemented through Hub One (the Bank’s tech Hub located in Lagos, Nigeria) in partnership with Passion Incubator, a Lagos-based early-stage tech incubator and accelerator. For this edition, FCMB will be providing grant funding of NGN1.5million to 2 tech start-ups in the agriculture sector to support their business growth as well as access to free word-class workspace, steady market and a robust network that stimulates innovation, collaboration and business growth.

In view of the COVID-19 pandemic, the FCMB Agritech Epic Pitch 2020 is the first virtual edition of the initiative, but is positioned to deliver the same value to participants, as demonstrated in previous editions. According to Rolayo Akhigbe, Divisional Head, Transaction Banking, FCMB“We are passionate about supporting Nigeria’s tech ecosystem and this initiative is one of the ways through which we are building and accelerating the growth of the Agritech Startups in Nigeria, as well as the larger African continent…”

Also according to Kudzai Gumunyu, Divisional Head, Agric Business “This initiative plays an important role in helping young and driven Nigerian entrepreneurs grow their Agric-focused business. This mission would eventually build investible, sustainable and scalable AgriTech businesses that can contribute to the nation’s employment rate as well as the growth of the nation’s GDP”.

Application for the program is currently open. Entrepreneurs in the Agritech space should apply by visiting https://on.fcmb.com/AEP. The deadline for application is July 24, 2020.

The program will also feature a virtual conference with the theme “Redefining and repositioning Agricultural value chains during and post the COVID-19 era”, which will bring together some global experts to discuss and share some insights on the Agricultural value chains.

For more information about Hub One, as well as other FCMB initiatives in support of the tech ecosystem, visit https://www.fcmb.com/hub-one/

CSL Stockbrokers Limited, a subsidiary of FCMB Group Plc, has emerged as the new stockbroker to the Federal Government of Nigeria. The appointment of the firm, as announced by the Debt Management Office (DMO) on February 18, 2020, followed an open competitive bidding process in which other Stockbrokers participated.

With the appointment, CSL Stockbrokers now has the mandate to execute all transactions of the Federal Government on the Nigeria Stock Exchange (NSE). This includes, posting bid and offer prices of government securities, supporting the DMO’s objective of promoting trading of Federal Government securities on the Exchange and attracting more retail investors to the domestic capital market.

CSL Stockbrokers, rated as one of the top five stockbroking firms in Nigeria, provides institutional and corporate brokerage services to investors and select issuers. At the heart of the firm is a robust research platform which supports local and international investors who desire in-depth coverage of the Nigerian capital market and the economy.

In a statement, the DMO said as Government Stockbroker, CSL Stockbrokers is mandated to build upon the achievements already recorded by increasing the participation of retail investors in all Federal Government Securities, such as Bonds, Sukuk, Savings Bond and Green Bonds listed and trading on the NSE.

The DMO added that, ‘’the appointment of CSL as the Government Stockbroker is a further demonstration of the commitment of the DMO to the development of the domestic market, in particular, promoting liquidity, as well as, growing and diversifying the investor base’’.

Commenting on the appointment, the Chief Executive Officer of CSL Stockbrokers, Mr. Abiodun Fagbulu, described the development as another milestone in the commitment of the firm to be the investment management services provider of choice in sub-Saharan Africa, driven by deep market knowledge and global standard investment management expertise.

According to him, ‘’CSL Stockbrokers consider this appointment as an opportunity to contribute to the growth and development of the domestic capital market in a way that is sustainable and profitable to investors’’.

Analysts are of the opinion that CSL Stockbrokers, which has over 30 years operating history in the capital market withconsistent impressive performance, is well positioned to support the DMO, with regards to meeting the Government’s financing needs in a prudent manner that supports economic development while proactively managing the associated risks.

CSL Stockbrokers Limited was established in 1977. It is a subsidiary of FCMB Group Plc, one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. The Group, which is listed in the prestigious Nigerian Stock Exchange (NSE)-30 Index in terms of market capitalisation and liquidity, has consistently witnessed impressive performance and growth along all key indices, especially those around profitability, deposits, customer numbers and assets under management.

Leading financial services provider, First City Monument Bank (FCMB), has introduced an enhanced agro-commodity trade finance facility for agribusiness operators. The development marks another bold step by the Bank to expand and deepen its support to the agricultural sector, its value-chain and the overall growth of the Nigerian economy.

The revamped facility is designed for agro-commodity merchants with supply contracts to multinationals, large corporates and processors of agro-commodities. Targeted commodities are cocoa, cashew nut, sesame, ginger, palm Oil, grains (maize, sorghum, soya beans, paddy rice). Under this new FCMB trade finance facility which is structured in the form of a working capital, the minimum amount that can be accessed by a qualified customer is N100million, while the maximum is N2billion.

Explaining the rationale behind the introduction of the facility in an enhanced form, the Divisional Head, Agribusiness of FCMB, Mr. Kudzai Gumunyu, said the Bank recognises the gap that exists in agribusiness financing as well as other challenges faced by operators, including farmers, in the sector.

According to him, ‘’we realise there are millions of agro-traders and processors across the country that need credit at convenient and affordable rates, considering the level of attraction the agric sector has garnered. Our decision to introduce a revamped agro-commodity trade finance facility is part of our intervention in the agribusiness space to ensure agribusinesses and other stakeholders are empowered with the requisite funds and enablers to boost production and marketing of agricultural commodities. Commodity producers and traders stand to immensely benefit from this facility, because it is a veritable and convenient opportunity to access funds that ensure cash flow is available for maximum output. We urge all to take advantage of this offering’’.

He assured that FCMB is focused on being a strategic partner in the agric sector to drive the diversification of the Nigerian economy, food self-sufficiency, employment and export earnings.

Highlighting FCMB’s contributions to agribusiness, Mr. Gumunyu said the Bank had sustained the tempo of support through numerous cutting-edge initiatives through innovative products. He said FCMB in 2018, provided lines of credit that peaked at 8 percent of the Bank’s total loan book to the agric sector with the intention to improve on this this milestone.

FCMB has consistently proved its mettle as an inclusive and impact investment lender and as an institution that accords agribusiness top priority. For instance, the Bank facilitated and guaranteed the procurement of fifty (50) tractors by the Tractor Owners and Operators Association of Nigeria (TOOAN) Ventures from the Bank of Industry. The tractors were handed over to the Association recently at Ilero town, Oyo State. In addition, FCMB is in partnership with several local and international institutions, such as CBN, BOI, DBN, FMO, International Finance Corporation, USAID, AFD and AGF to provide funding and other classes of support to the agric sector.

Recently, the lender signed a Memorandum of Understanding with the World Savings and Retail Banking Institute (WSBI). The memorandum is aimed at deepening agency banking, financial inclusion and savings culture in the informal and agribusiness sectors, starting with five states, namely Kaduna, Kano, Nasarawa, Ogun and Oyo. The plan is to reach 2 million farmers nationwide by the year 2023.

First City Monument Bank (FCMB) Limited is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail banking and wealth management led group, FCMB expects to continue to distinguish itself through innovation and the delivery of exceptional services.

For more information about FCMB’s products and services, please visit www.fcmb.com

So what is this article meant to achieve? If the banks have issues with the bloggers, they should have the authorities deal with them accordingly.. both the banks and bloggers have questions to answer

A reputable Lagos lawyer is claiming that Dbanj, his wife or other custodians might be facing jail over manslaughter charges in the recent occurrences leading to  thedeath of his son through negligence. The lawyer alleged that:

Quote

In most states, child abuse or negligence may be charged as either a felony or a less serious offence, depending on the circumstances. The most severe cases of child abuse can carry felony lifetime sentences, while the least serious cases are considered gross misdemeanors which could potentially result in no prison time. Punishment will typically be more severe if the offender has a prior record of criminal child abuse activity and greatly reduced if there is no prior record.

For sentencing purposes, a person charged with child abuse or negligence may enter a plea of guilty, not guilty, or no contest. In a large number of cases, sentencing can include probation or a prison term of up to five years.
Sentencing in more serious cases may include a longer prison term.

Other possible penalties and/or consequences can include:

Lifetime requirement to register as a child sexual offender
Termination of parental rights
Ruined reputation
No right to bear a child
Criminal record
Supervised access to the child
Physical or actual loss and enjoyment of a child
Continual involvement with a child protective services agency

*that swimming pool should have been hedged.

We disagree with the above opinion because it appears to be senseless and baseless as no real parent would intentionally neglet their child for death and we believe this is the wrong time for these lawyers to be peddling such theories in attempt to revive their dead careers

http://parrotnigeria.com/dbanj-and-his-wife-might-be-jailed-for-4-years-over-death-of-son-lawyer/

This is a ridiculous article.. there are different issues with different banks and they all try to deal with the as best as they can.. the regulatory bodies have not come out to say FCMB has any issues.. their reports are there for all to see.. why would the writer single out FCMB if it's not a paid job.. When people say Social media should be regulated, this write up only embolden that call..

SCAM ALERT:

Have you been seeing some broadcast on Whatsapp and also online that FCMB is offering N200,000 scholarship to undergraduates? Well, the Bank said it is not doing any scholarship scheme and this is just a fraudulent claim. FCMB issued the disclaimer on its social media pages yesterday. 

The statement read "It has been brought to our notice that a fictitious scholarship scheme is being circulated around the web, inviting undergraduate students to apply for a N200,000 scholarship sponsored by FCMB.

Please be informed that FCMB has no partnership with any organization or individual offering a N200,000 scholarship to undergraduates, as advertised by this fraudulent scheme.

Students and the general public are, therefore, advised to beware of such schemes and spread the word to prevent others from falling victim to this scam.

For more information, please call 0700 329 0000".

The attention of Lagos State Government has been drawn to the announcement of a proposed tariff hike on Lekki-Epe Expressway and Lekki-Ikoyi link bridge by the Lekki Concession Company (LCC).

The Lagos State government hereby informs the general public that the said tariff hike has now been put on hold as the necessary consultations with stakeholders are yet to be concluded.

While government recognises the need for periodic review of tariffs and any other levies appertaining to road infrastructure maintenance in the state, the public and critical stakeholders as the ultimate beneficiaries of such facilities must always be carried along at all times.

Therefore, the proposed tarrif hike cannot be effected at this period in the interest of the public, while further consultations continue.

Signed:
Steve Ayorinde
Commissioner for Information & Strategy
Lagos State


http://www.parrotnigeria.com/2017/11/breaking-lagos-state-directs-lcc-to.html?m=1

The 2016 Batch B, National Youth Service Corps, NYSC (Stream One) Corps members passed out on Thursday.


The News Agency of Nigeria, NAN, reports that the passing out corps members who were deployed to Oyo State gave birth to no fewer than 72 children.

The Oyo State NYSC Coordinator, Ifeoma Anidobi, made this known in an interview with NAN in Ibadan.

Ms. Anidobi noted that the state also recorded 20 marriages by the corps members.

She said out of a total of 3,406 corps members passing out in the state, three deaths were recorded.

“The 3,406 ‘corpers’ consist of 1,504 males and 1,902 females, out of which three members received state’s awards, while one received the chairman’s award.

“Again, 38 received commendation letters, while 28 had disciplinary cases.

“Those with disciplinary cases are to undergo extension of service, ranging from two weeks to four months,” Ms. Anidobi said.

The Batch B (Stream One) corps members were in the orientation camp between November 24 and December 14, 2016.


( NAN)


http://www.parrotnigeria.com/2017/11/nysc-72-births-20-marriages-recorded.html?m=1

In line with its drive to improve lives of customers and support them in achieving their aspirations, leading finance institution, First City Monument Bank has announced the start of #FCMBFlexxtern 2.0, one of its youth empowerment initiatives.

#FCMBFlexxtern is an initiative targeted at young, smart Nigerians in search of the opportunity to gain first-hand experience in the business world. By participating in the contest, fresh graduates or final year students between the ages of 16-25 years stand a chance to get a 3-month internship with FCMB or one of the organizations partnering with the bank.

To enter the #FCMBFlexxtern contest, interested contestants should simply upload a 45-second video to YouTube explaining why they should be selected as an #FCMBFlexxtern, then go over to the #FCMBFlexxtern Portal (http://on.fcmb.com/Flexxtern2-20) to submit their entries and get their friends to vote for them. The most voted entries will then be independently screened by a panel of judges, after which 20 winners will emerge. Entry submission to the #FCMBFlexxtern closes on Sunday, October 22, 2017.

Last year, the maiden edition of the #FCMBFlexxtern initiative saw 5 Flexxterns emerge, with 3 of them getting retained by their organizations at the end of the 3-month internship. This year, there are 20 #FCMBFlexxtern 3-month internship slots available.

FCMB has partnered organizations in a wide range of sectors for this year’s #Flexxtern initiative including Terragon Group, Vconnect, TISV Digital, IrokoTV, Insight Publicis, House of Tara International, Mai Atafo and DBH Solutions. Others are Cube Soft, Enthyst, SMEFUNDS, RecyclePoints, NetPlusDotCom and People Productivity Solutions.

FCMB’s Flexx proposition is targeted at young people who are actively seeking platforms which allow them to express their uniqueness, while building skills for financial success. A youth-centric banking product, Flexx is designed to meet the overall financial needs of young people within the age range of 18 and 25 years, where and how they want those needs met. This is summarized in the description of Flexx as “An app. A card. An account”, which gives account holders the freedom to bank on the go using the Flexx Mobile App, as well as access relevant lifestyle and skills-building content.

In addition, with their Flexx card, they can conveniently withdraw cash, make payments online and on Point-of-Sale machines and access exclusive discounts and freebies from Flexx partners. This interesting departure from the common market offering gives the account holder full access to “flexx” (a popular expression which means to “show off”) and the opportunity to express a lifestyle that will be the envy of their peers who do not have Flexx accounts.


CC: Lalasticala

First City Monument Bank (FCMB) Limited has reiterated its commitment to support activities that promote and add value to Nigeria’s culture and heritage which are also capable of boosting tourism and other non-oil sectors in line with the Federal government’s ongoing drive to diversify the country’s economy.

According to the Bank, this is the rationale behind its decade long support for the annual Ojude Oba Festival, a carnival-like celebration of the traditional, cultural, spiritual, economic and other accomplishments of the people of Ijebuland in Ogun state.

Consequently, FCMB has assured its stakeholders that its participation in this year’s Festival, which holds in Ijebu-Ode on September 3, 2017 will be grand, exciting and rewarding for the thousands of people within and outside the country that would grace the fiesta.

The Group Head, Corporate Affairs of FCMB, Mr. Diran Olojo, gave the assurance at a press conference held on August 22, 2017 at Ijebu Ode, to kick-off activities for the Festival. FCMB has over the years been a major sponsor of the Ojude Oba Festival and has continued to play a significant role in ensuring its success.

The Ojude Oba (which in Ijebu dialect means, the king’s fore-court or frontage) is a major festival in Nigeria that began over 100 years ago. It brings together all sons and daughters of Ijebuland in Nigeria and diaspora. During the Festival, various age groups (popularly known as the Regberegbes), indigenes, their friends and associates from far and near – all in their colourful costumes and riding on horses – throng the palace of the Awujale and Paramount Ruler of Ijebuland to pay homage to him amidst prayers, songs, tributes and other fun-filled activities.

Apart from serving as a distinctive platform to reconnect with the values that sustain the town’s rich history, heritage and industrious uniqueness, the festival also goes a long way to boost business activities, tourism and the general hospitality sector in the area.

In a goodwill message to the Awujale of Ijebuland, Oba (Dr.) Sikiru Adetona, the Group Chief Executive of FCMB Group Plc, Mr. Ladi Balogun, congratulated the monarch, sons and daughters of Ijebu land for promoting the values of the ancient city through the festival and other socio-economic activities. He stated that FCMB is committed to the longevity of the Ojude Oba Festival and the economic prosperity of Ijebu land, just as he urged the people to see the Festival as a fulcrum to inspire individuals and businesses for heightened creativity and increased productivity.

According to him, ‘’over the years, the Ojude Oba Festival has grown to become the most popular gathering of the people of Ijebuland and a significant tourist attraction. With her large Diaspora population, talented artists and rich cultural diversity, Nigeria is well positioned to reap the opportunities that globalisation presents to showcase her artistry and festivals, whilst bringing increased economic activity to communities that host such, such as Ijebu Ode. As we seek to diversify our economy, tourism and culture represent a low hanging fruit that must not go untapped’’.

In the same vein, the Founder of FCMB Group who is also the the Olori Omo-Oba AkileIjebu, Otunba (Dr.) Michael Olasubomi Balogun, CON, in a goodwill message to the paramount ruler of Ijebuland expressed his gratitude to the Awujale, especially the paramount ruler’s selflessness in attending to the different requests and yearnings of the people of Ijebuland.In a message delivered on his behalf by Mr. Diran Olojo, the Bank’s Head of Corporate Affairs, Otunba Balogun commended Oba Adetona for his distinguished and exemplary leadership over the years.

“I for one continue to be proud as your Olori Omo-Oba to lead the way in showing our appreciation by being very close to you and showing unflinching loyalty. Let me thank you and the good Lord, our Maker that you have been unrelenting in showing that you appreciate my regular homage and tribute to you. I can say without fear of anybody gainsaying it that from year to year, on a daily basis, the appreciation of all Ijebus for the way you extend yourself to their different requests and yearnings, is such that the annual paying of homage, is not just the only occasion we would want to be showing our appreciation because you continuously earn our affection and our adulation’’, Otunba Balogun emphasised.

While congratulating the entire indigenes of Ijebuland, the FCMB Founder also prayed that the monarch’s reign would continue to bring joy and prosperity in abundance to the entire Ijebu race, at home and in the Diaspora.

First City Monument Bank (FCMB) is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.

CC: Lalasticala

Yesterday, there was a flood crisis in Akobi crescent Lagos, largely due to failure of residents to properly clean their environment from time to time.
After the rains, dirt washed up the streets making it impossible for the water to dry out.

Thankfully Governor Ambode came to the rescue sending sending teams from the Visionscape and Cleaner Lagos initiative to help clear out the debris.

Leading financial institution, First City Monument Bank, is delighting holders of its youth banking account Flexx with cash prizes throughout the month of love, February. In the promo tagged #BankingOnLove, 1o customers will each win N10,000 every week in February.

That’s a total of 40 customers who will be rewarded! Already, 10 winners have emerged in the promo, which kicked off on 01 February 2017 and is designed to reward Flexx customers who use their cards to make payments and carry out transactions.

To be eligible for the weekly draw, all a Flexx account holder has to do is use his / her Flexx card to carry out transactions that add up to at least N5,000 Naira or more every week. The more times Flexx customers use their cards for transactions, the more their chances of winning.

FCMB’s Flexx proposition is targeted at young people who are actively seeking platforms which allow them to express their uniqueness, while building skills for financial success. A youth-centric banking product, Flexx is designed to meet the overall financial needs of young people within the age range of 16 and 25 years, where and how they want those needs met. This is summarized in the description of Flexx as “An app. A card. An account”, which gives account holders the freedom to bank on the go using the Flexx Mobile App, as well as access relevant lifestyle and skills-building content.

In addition, with their Flexx card, they can conveniently withdraw cash, make payments online and on Point-of-Sale machines and access exclusive discounts and freebies from Flexx partners. This interesting departure from the common market offering gives the account holder full access to “flexx” (a popular expression which means to “show off”) and the opportunity to express a lifestyle that will be the envy of their peers who do not have Flexx accounts.

Want to Flexx and win 10,000 Naira, too? Simply open a Flexx account and use your FCMB Flexx card to carry out transactions worth N5000 or more every week and you stand a chance to be one of our winners. Start using your FCMB Flexx cards to carry out all your transactions and payments now! The more transactions you do, the higher your chances of winning each week.

Hurry, you have 3 more weeks to be a winner! Promo runs throughout the month of February only. Follow FCMB Flexx on all social media platforms for more information, or click http://on.fcmb.com/ BankingOnLove-20 to learn more about how you can win in the #BankingOnLove promo.

Leading financial institution, First City Monument Bank, is delighting holders of its youth banking account Flexx with cash prizes throughout the month of love, February.

In the promo tagged #BankingOnLove, 1o customers will each win N10,000 every week in February. That’s a total of 40 customers who will be rewarded!

Already, 10 winners have emerged in the promo, which kicked off on 01 February 2017 and is designed to reward Flexx customers who use their cards to make payments and carry out transactions.

To be eligible for the weekly draw, all a Flexx account holder has to do is use his / her Flexx card to carry out transactions that add up to at least N5,000 Naira or more every week.

The more times Flexx customers use their cards for transactions, the more their chances of winning.



FCMB’s Flexx proposition is targeted at young people who are actively seeking platforms which allow them to express their uniqueness, while building skills for financial success.

A youth-centric banking product, Flexx is designed to meet the overall financial needs of young people within the age range of 16 and 25 years, where and how they want those needs met.

This is summarized in the description of Flexx as “An app. A card. An account”, which gives account holders the freedom to bank on the go using the Flexx Mobile App, as well as access relevant lifestyle and skills-building content.

In addition, with their Flexx card, they can conveniently withdraw cash, make payments online and on Point-of-Sale machines and access exclusive discounts and freebies from Flexx partners.

This interesting departure from the common market offering gives the account holder full access to “flexx” (a popular expression which means to “show off”) and the opportunity to express a lifestyle that will be the envy of their peers who do not have Flexx accounts.

Want to Flexx and win 10,000 Naira, too? Simply open a Flexx account and use your FCMB Flexx card to carry out transactions worth N5000 or more every week and you stand a chance to be one of our winners. Start using your FCMB Flexx cards to carry out all your transactions and payments now!

The more transactions you do, the higher your chances of winning each week. Hurry, you have 3 more weeks to be a winner!

Promo runs throughout the month of February only. Follow FCMB Flexx on all social media platforms for more information, or clickhttp://on.fcmb.com/BankingOnLove-20 to learn more about how you can win in the #BankingOnLove promo.

This promo is open to FCMB Flexx account holders only.

On Friday, November 25, 2016, students of Ahmadu Bello University (ABU) were super- delighted as First City Monument Bank (FCMB) stormed the prestigious university for the grand opening of the Flexxhub.

This was just immediately after the school’s matriculation and it was awesome. As soon as the event started, the students who were already waiting for the kick-start, trooped out en-masse to the venue. Judging from the smile on their faces, one could tell how excited they were. Here are excerpts from the events:
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The event featured talent hunt, treasure hunt, dance competitions, and so much more. Winners were also rewarded wholesomely! There was a lot to eat and drink, as well as enough music to thrill the students. See more pictures

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The Pro-Chancellor of Ahmadu Bello University (ABU), Architect Mohammed Dewu; Vice Chancellor of the University, Professor Ibrahim Garba, Regional Director, Abuja & North of FCMB, Mr. Mustapha Lukman; Regional Retail Head, Mr. Sunday Egele; President of the Students Representative Council of ABU, Musa Lawal and a host of other dignitaries, were part of the ceremony. Declaring the FlexxHub open, Mr. Lukman said, “Flexx is not just an account but a lifestyle platform that offers a customer experience centred on Fun, Future and Banking. The tripod of ‘FFB’ is served through digital channels that fit into the lifestyle of the Flexx target market. This includes the Mobile App, a Microsite and an Online Account Opening platform, all of which allow a potential Flexx customer open an account with FCMB without necessarily having to visit a branch. What this physical structure of the Flexx Hub brings to you, our young customers, is the removal of the rigours of banking, so that members of the youth market are happy to come “Flexx @ The Hub” whenever the need arises. This is the second FlexxHub we are opening, with many more to be opened on campuses across Nigeria″.
Also speaking, the Vice Chancellor, Professor Garba, expressed gratitude to FCMB for bringing its excellent banking services to the school. According to him, “FCMB is the first financial institution to open a business office at ABU. This shows that the Bank is committed to the development of students, education and indeed the society. We look forward to more rewarding partnership with FCMB”.
The dignitaries, thereafter, cut the ribbon to signify the official opening of the Hub.
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Some of the attendees at the event shared their excitement and showed appreciation to FCMB.
A student, who emerged as one of the winners of a smartphone, Master Bitrus Stephen, had this to say about the FCMB Flexx proposition: “Am so excited to have been one of the winners of the FCMB Flexx contest. I lost my smartphone two weeks ago and I have been thinking of how to buy another one. This gift from FCMB is a pleasant surprise and timely, because I opened the account with just N1,100. I really thank the Bank for giving me an opportunity to have a new phone and for also using the Flexx product to empower youths now and in the future”.

The excitement doesn’t end here, join the Flexxers today, click http://flexxzone.fcmb.com/join/open-account.html to register.

On Friday, November 25, 2016, students of Ahmadu Bello University (ABU) were super- delighted as First City Monument Bank (FCMB) stormed the prestigious university for the grand opening of the Flexxhub.

This was just immediately after the school’s matriculation and it was awesome. As soon as the event started, the students who were already waiting for the kick-start, trooped out en-masse to the venue. Judging from the smile on their faces, one could tell how excited they were. Here are excerpts from the events:
9
The event featured talent hunt, treasure hunt, dance competitions, and so much more. Winners were also rewarded wholesomely! There was a lot to eat and drink, as well as enough music to thrill the students. See more pictures

2356

The Pro-Chancellor of Ahmadu Bello University (ABU), Architect Mohammed Dewu; Vice Chancellor of the University, Professor Ibrahim Garba, Regional Director, Abuja & North of FCMB, Mr. Mustapha Lukman; Regional Retail Head, Mr. Sunday Egele; President of the Students Representative Council of ABU, Musa Lawal and a host of other dignitaries, were part of the ceremony. Declaring the FlexxHub open, Mr. Lukman said, “Flexx is not just an account but a lifestyle platform that offers a customer experience centred on Fun, Future and Banking. The tripod of ‘FFB’ is served through digital channels that fit into the lifestyle of the Flexx target market. This includes the Mobile App, a Microsite and an Online Account Opening platform, all of which allow a potential Flexx customer open an account with FCMB without necessarily having to visit a branch. What this physical structure of the Flexx Hub brings to you, our young customers, is the removal of the rigours of banking, so that members of the youth market are happy to come “Flexx @ The Hub” whenever the need arises. This is the second FlexxHub we are opening, with many more to be opened on campuses across Nigeria″.
Also speaking, the Vice Chancellor, Professor Garba, expressed gratitude to FCMB for bringing its excellent banking services to the school. According to him, “FCMB is the first financial institution to open a business office at ABU. This shows that the Bank is committed to the development of students, education and indeed the society. We look forward to more rewarding partnership with FCMB”.
The dignitaries, thereafter, cut the ribbon to signify the official opening of the Hub.
8710

Some of the attendees at the event shared their excitement and showed appreciation to FCMB.
A student, who emerged as one of the winners of a smartphone, Master Bitrus Stephen, had this to say about the FCMB Flexx proposition: “Am so excited to have been one of the winners of the FCMB Flexx contest. I lost my smartphone two weeks ago and I have been thinking of how to buy another one. This gift from FCMB is a pleasant surprise and timely, because I opened the account with just N1,100. I really thank the Bank for giving me an opportunity to have a new phone and for also using the Flexx product to empower youths now and in the future”.

The excitement doesn’t end here, join the Flexxers today, click http://flexxzone.fcmb.com/join/open-account.html to register.

Barely few years after Ghana commenced crude oil production from the Jubilee Field, the country has resolved its fuel supply challenges and commenced exports to Nigeria and other West African countries. Ejiofor Alike writes on how Ghana attained this feat and lessons for Nigeria

Not a few people were surprised to read recent reports that Ghana had commenced the exportation of refined petroleum products to some neighbouring West African countries, including Nigeria.
The exports which were reportedly carried out through their state-owned Bulk Oil Storage and Transport (BOST) Company (the equivalent of Nigeria’s Pipelines and Products Marketing Company (PPMC), was announced by the country’s Minister of Petroleum, Mr. Emmanuel Amah –Kofi Buah, at a press briefing during which he also reportedly spoke of plans to extend supplies to Liberia in the coming months.
Ghana’s vision, according to the Petroleum Minister, was to eventually become the hub for the distribution of petroleum products in the West African sub-region.
He also added that the country had achieved capacity to guarantee its energy security for the next two decades.
The irony in the story was all too glaring- Nigeria, one of the top 10 hydrocarbon -rich nations on earth, was reportedly importing refined products from a neighbouring country with, at best, a nascent oil exploration and production industry.
Beyond the unbelief and surprise that greeted the news, the story of how a relatively fringe player in the petroleum business overcame the odds to supply refined petroleum products to its vastly resource-richer neighbour offers enduring lessons in successful public sector enterprise.

Pioneering role of two Ghanaian state-owned firms

According to reports, two Ghanaian state-owned enterprises – BOST and the Tema Oil Refinery (TOR) – were behind the feat achieved by the country’s domestic downstream oil sector.
The more interesting story, however, is how the two companies were transformed into key revenue earners for their country. Up till two years ago, BOST and TOR just like the Nigeria’s refineries, suffered from the regular afflictions of most public sector firms in Africa- poor management, poor funding, outdated equipment, epileptic operations and even poorer productivity, thus transforming these into mere storage depots for 3rd party petroleum products.
THISDAY gathered that before the new transformation, BOST’s total storage capacity of 425 million litres for petroleum products was grossly under-utilised and except for the main import terminal called the Accra Plains Depot, all other five depots were abandoned by the country’s oil marketers forcing BOST to temporarily suspend their operations of those depots in September 2013.
Coincidentally, in the same 2013, BOST had also reportedly incurred liabilities to its 3rd party clients in excess of $60 million (N28.5 billion) as a result of “inefficiencies and mismanagement at the storage depots”.
TOR’s operational circumstances were reportedly more dismal. The refinery’s two plants had suspended operations since 2009, on account of funding constraints which had made it “impossible for its management to raise letters of credit (LCs) for crude oil imports”, among other operational challenges, according to reports.
Nigeria has about 21 depots but most of the depots have also been abandoned as vandalism has made it difficult for petroleum products to be pumped via pipelines to these depots.
Following these issues, the Ghanaian government made an attempt to privatise the refinery, a move that generated serious industrial unrest and suspicion both within the organisation’s labour unions and the country’s organised labour which launched a “Save Tema Refinery” campaign that effectively scuttled the move.
Similar opposition has been mounted by Nigerian oil workers against the proposed sale of the NNPC’s refineries.
However, revival for both organisations in Ghana started in late 2013 when President John Dramani Mahama appointed a new managing director for BOST, Mr. Kwame Awuah- Darko.
He adopted a new approach to the restructuring of BOST for greater effectiveness and took the decision to outsource the operations of all the BOST depots to an independent terminal management company with experience in the management of such facilities in other countries and the willingness to invest in the BOST depots

Involvement of a Nigerian company

Following their selection process, a Nigerian company, TSL Logistics Limited, was successful in its bid to invest in the upgrade and subsequent operations of the BOST Depots. Although, officials from TSL declined requests for interview for this story, we gathered from oil and gas industry sources in Nigeria that they are regarded as one of the largest and the most professional logistics operators in the downstream sector of Nigeria with expertise in terminal management, trucking and marine support services..
Expectedly, the selection did not come without its challenges, especially from indigenous operators in the Ghanaian downstream oil sector, specifically the Bulk Distribution Companies. The Managing Director of BOST, Mr. Kingsley Kwame Awuah-Darko, was reported in the Ghanaian papers as saying that government’s decision to outsource the operations of the terminals to an independent operator like TSL Logistics was to avoid the conflict of interest issues it would face if such a facility was outsourced to the local BDCs.
He also reportedly said that all laid-down procedures were followed in BOST’s dealings with TSL Ghana, “adding that the company (TSL-Ghana) has been given 12 months to meet standards spelt out by BOST or have their contract abrogated”, according to the Ghana News Agency reports.

Success story

Success was soon to follow the bold move by the Ghanaian government. At the end of the pilot run, the BOST MD at a press conference in Accra stated that since BOST engaged TSL, it had stopped experiencing product losses, in fact, BOST had recorded gains in excess of $8million during the pilot run. These statements received further affirmation by the Ghanaian Minister of Petroleum during a 2015 inspection of the BOST facilities in Kumasi to ascertain the progress made by the government since they handed over the management of the depots to TSL. In his words “The Ministry and BOST had not regretted making the decision to collaborate with TSL Logistics and would not mind to do it again.”
The renewed BOST went on to record further success in 2015. It is reported that BOST generated close to $30 million in trading profits for the year 2015, a complete reversal of its fortunes prior to the change in its operational strategy.
Awuah-Darko’s successful turnaround of the fortunes of BOST informed the decision by President Mahama to appoint him to also head Tema Oil Refinery (TOR) effectively doubling as MD of both institutions.
Awuah-Darko immediately set to task utilising the same strategies that made him successful at BOST to get TOR to resume operations and he put in place a crude processing agreement between BOST and TOR, which would see TOR refine crude oil supplied by BOST.
The agreement sealed, TOR resumed operations on February 2016 and the results were immediate, according to reports. Within two months of operations from February 16 to April 20, 2016, the company reportedly posted a profit $800, 000. 00 from its operations, the first positive result in seven years.
It had also processed a total of one million barrels of crude oil supplied by BOST within the period and was also expecting a profit of $1.5 million from the second batch of crude oil it was contracted to refine for BOST between May and August 2016, reports say.
Awuah-Darko reportedly said the “crude oil purchase agreement with TOR was part of measures by BOST to move away from importing finished products at huge costs”.
“We set out a two-year turnaround programme; Operation 24”, according to Awuah-Darko, “which involved specific measurable targets and by July this year, we had exceeded those targets”.
By rolling out its ambitious plans to dominate the downstream petroleum business in the West African sub-region, it is making a strong statement of intent that raises serious questions for its better-endowed neighbours such as Nigeria. The company says it plans to supply Burkina Faso through underground pipes from their facility in Buipe in the near future.
One of the official policy decisions that appears to have helped the success stories of the two state-owned companies was the Ghanaian government’s decision to deregulate its petroleum sector.
According to the country’s Petroleum Minister, “Ghanaians have been empowered to be at the forefront of the industry and a liberalised petroleum downstream sector with strong private sector participation where product availability, competition, better customer service and lower prices are making Ghana the preferred destination for doing business in the sub-region.”
BOST’s CEO says the deregulation has had a very positive effect on petroleum product prices in Ghana. “At the beginning of the year, we had fuel prices at 18.5 cedis per gallon for petrol, by the grace of God today, its 11 cedis per gallon. For the first time in the history of this country, prices are being felt on the local markets”.
The Petroleum Minister further said “the restructuring of BOST has resulted in a turnaround in the performance of this strategic national asset which is now successfully fulfilling its mandate of ensuring the availability of petroleum products”.
Aside from its plans to dominate the sub-regional downstream petroleum space, Ghana also reportedly has ambitious plans for its Gas business with the Ghana Gas Company (Ghana Gas) having completed an extension of its pipeline to the battery limit of the West African Gas Pipeline Company (WAPCo)’s Metering Station at Aboadze. Reports say Ghana Gas is awaiting WAPCo’s interconnection of this pipeline as part of its strategy to, in the long term, “provide the opportunity for Ghana to realise its vision to utilize gas for the other industrial uses, beyond power generation, such as fertilizer and petrochemicals”, the Minister said.

Lessons for Nigeria

The success of this Public/Private Sector partnership model in Ghana certainly raises a compelling case for its application in Nigeria, given the humongous challenges that have beset the country’s downstream petroleum sector over the years, with over 70 per cent of the country’s foreign exchange earning reportedly dedicated to the importation of refined petroleum products.
Amidst recent reports of the N127.73 billion loss sustained by the Nigerian National Petroleum Corporation (NNPC) for the first eight months of 2016, of which the country’s refineries accounted for N47.69 billion, it is clear that the country is in need of urgent solutions to its age-long challenges of ensuring adequate domestic supply of petroleum products and turning around the fortunes of the refineries in the overall interest of the economy.
Exploring the restructuring model applied by Ghana for BOST’s counterpart in Nigeria, the PPMC and the country’s perennially-epileptic refineries, may prove the turning point towards a vibrant, export-capable downstream petroleum sector in the country, given the success recorded in such operations by an indigenous player in the sector in a neighbouring country

Please guys, I need information on broadcast rate of the following TV channels STV,NTA, DBN and AIT.
Thanks.

Please guys I need  information on broadcast rate of some TV channels in Nigeria, STV, AIT, NTA, and others.
Thanks.