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  • FirstBank Convenes Nigeria Economic Outlook Webinar For 2023

    FirstBank Convenes Nigeria Economic Outlook Webinar For 2023

    First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced the 2023 edition of its Nigeria Economic Outlook event. The virtual event themed “Nigeria Economic Outlook 2023: A look ahead” is scheduled by 8:30am on Friday, 20 January 2023, via Zoom meeting. To register and participate in the event, do click on the link  https://firstbanknigeria.zoom.us/webinar/register/WN_Z-8Izr1sRHmdfRqZ5RiYeQ 

    The event will promote deliberations and analyses of national and global economic trends to shape 2023. Like its previous edition, the 2023 FirstBank Nigeria Economic Outlook aims to set the tone for the year by providing an opportunity for participants to learn directly from economic experts. Participants will be better informed and knowledgeably empowered to make the right decisions in their socio-economic activities in 2023.

    ‘Biodun Adedipe, Ph.D, founder and Chief Consultant of B. Adedipe Associates Limited (BAA Consult) will lead deliberations at the event as its keynote speaker. Other speakers are FirstBank’s Ini Ebong, Executive Director, Treasury and International Banking; Tosin Adewuyi, Executive Director, Corporate Banking; Ugo “Ugodre” Obi-chukwu, Founder, NairaMetrics as well as Mosope Arubayi, economist and global financial analyst. Chike Uzoma, Head, Strategy & Corporate Development, FirstBank will moderate the event.

    According to Mrs. Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications of FirstBank ‘Our forthcoming Nigeria Economic Outlook webinar is a viable opportunity for one to be informed on key trends and activities that will shape the global socio-economic landscape in 2023. 2022 was indeed a turbulent year and from the 2023 forecast, the growth would still be slow. In addition, bearing in mind 2023 being an election year in Nigeria, like every democratic nation around the world, commercial and business activities in the country will be impacted by the forthcoming election.

    I encourage everyone to join the event as the keynote speaker and panelists will shed more light and perspectives which will have participants informed about opportunities and happenings that will shape the socio-economic and political environment in the country and the world at large.”

  • SIFAX Group, Chairman win Brandcom, MARAN awards

    SIFAX Group, Chairman win Brandcom, MARAN awards

    SIFAX Group has won the Most Outstanding Maritime Company of the Year award while its chairman, Dr. Taiwo Afolabi, emerged the Maritime Person of the Decade.  


    While the SIFAX Group award was conferred at the 2022 Brandcom Awards organised by Brand Communicator, Nigeria’s foremost marketing communications magazine, the chairman’s award honour came via the Maritime Reporters Association of Nigeria (MARAN) at its 34th-anniversary celebration held in Lagos.  

    According to Joshua Ajayi, convener of the BrandCom Awards and publisher of the Brand Communicator, SIFAX Group has continued to set the pace in the maritime sector with novel solutions that have impacted the industry.  

    He said: “We have monitored the progress of SIFAX Group during the 2021/2022 business year and have found out that the company’s innovative solutions continue to positively impact the country’s maritime industry. The standards set by the company are high and we could not have selected a better company in the industry. We are proud of what the company is doing, and we urge them to keep it up”.  

    On his own part, Gboyega Oni, Acting President of MARAN, said the choice of Dr. Taiwo Afolabi for the award was not far-fetched owing to his tactful business acumen that has propelled SIFAX Group to a whole new height with impactful investments in the Maritime sector.  

    “SIFAX Group has been a trailblazer in the maritime sector in the last decade. Aside from investments in terminal operations, its off-dock solutions have positively affected the industry”, he said.  


    In his response, Olumuyiwa Akande, Group Head, Corporate Communications, SIFAX Group, lauded the organisers of the award for the honour, adding that the Group would seek to improve on the standards that have brought it these accolades. 

  • FirstBank, others Partner Junior Achievement on Africa’s Largest High School Entrepreneurship Competition

    FirstBank, others Partner Junior Achievement on Africa’s Largest High School Entrepreneurship Competition

    FirstBank has partnered with JA Africa on Company of the Year (COY) Competition, Africa’s largest high school entrepreneurship competition scheduled to take place in Lagos, Nigeria from 7th to 9th December under the theme, “Fueling Changemakers.”

    The JA Africa Company of the Year (COY) Competition which returns for the 12th year in a row and the first in-person meeting post-COVID, after two successful virtual competitions is JA Africa’s annual celebration of winning teams from the JA Company Program, a program which equips senior secondary school level students with the entrepreneurial skillset and mindset to solve problems in their communities by launching a business venture and unleashing their entrepreneurial spirit.

    The young entrepreneurs who compete at JA Africa’s COY go through qualifying competitions at national and sub-national levels, competing against thousands of youth startups to qualify for the regional competition. This program transitions them into employment and transforms them into employers. Having emerged as national winners, they will represent their countries on the continental stage where they have the arduous task to impress a panel of international business professionals who serve as judges.

    FirstBank’s sponsored winners of the 2022 Junior Achievement Nigeria (JAN) National Company of the Year (NCOY) Competition – Green Apex from the International School, University of Lagos – will represent Nigeria in the JA Africa Company of the Year (COY) Competition.”

    “Given the increasingly complex set of global challenges facing young people around the world from unemployment to climate change and food shortage, we focus on equipping our students to be solution providers who bring about positive change within their communities while developing businesses that generate wealth,” said Simi Nwogugu, JA Africa’s CEO. “Our students have demonstrated great resilience and innovation in grappling with these challenges and I am extremely proud of all of them. I am also deeply grateful to all our sponsors who stayed with us throughout the pandemic period and contributed greatly towards making this a live event again.”

    Also speaking on the forthcoming Africa Company of The Year Competition, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank said; “the 2022 Junior Achievement Company of The Year competition remains another viable opportunity to promote the entrepreneurship skills, spirit and talent innate in school children, across Africa. We commend Junior Achievement Africa on the COY initiative as it serves as an avenue to expose participants to inter-cultural values and traditions that will foster the unity of the continent.

    We wish all participants, particularly the Nigerian representatives – Green Apex from the International School, University of Lagos – the best as learnings from every initiative could solve critical problems facing mankind as we collectively make the world a better place. 

    This year, nine student startups representing Eswatini, Kenya, Ghana, Nigeria, South Africa, Tanzania, Uganda, Zambia and Zimbabwe will put their business acumen to the test as they present the achievements of their businesses in numerous formats to win the prestigious title of JA Company of the Year and other amazing prizes from the sponsors. The highest among the prizes at stake will be the opportunity to represent the African region at the Ralph de la Vega Global Entrepreneurship Competition which will bring together COY winners from the six regions where JA Worldwide operates to compete for awards, $15,000, educational opportunities, and more.

    The 2022 JA Africa COY Competition is made possible by the generous support of Headline sponsors FedEx, Citi Foundation and PMIEF; Platinum sponsors: Bloomberg, Johnson & Johnson, Delta Air Lines and First Bank of Nigeria Limited; Gold sponsors: Tomorrow Foundation, Nascon, GB Foods and Rise, who by supporting this competition are demonstrating their commitment to job creation and youth empowerment on the African continent.

  • FirstBank Sponsors Fifth Chukker African Patron’s Cup Polo Tournament

    FirstBank Sponsors Fifth Chukker African Patron’s Cup Polo Tournament

    Kaduna is agog with excitement as preparation for this year’s First Bank of Nigeria Limited sponsored Emir of Zazzau African Patrons Cup and Breast Cancer Awareness Campaign gathers momentum. The African Patrons cup is an annual polo tournament that features Low, Medium and High goal teams from all around the world. The 2022 grand edition will be held between November 1st – 6th, at the highbrow Fifth Chukker Polo Resort in Kaduna.

    The weeklong mini polo tournament will feature notable teams like Mohammed Babangida’s Kaduna El-Amin, Y.Y Kangimi, Abuja Rubicon, Lagos MRS, while star players like Sayyu Dantata; Patron of Lagos MRS, Hadi Sirika; Patron of Abuja Rubicon, Adamu Attah; Patron of Fifth Chukker Polo team, Dawule Baba of DEEBEE Farms Polo Team, Bello Buba; Nigeria highest ranked polo player, Suleiman Abubakar; Kashim Bukar Shettima; Babangida Hassan are the notable polo players expected in Kaduna competition.

    The players and their teams will compete for the glamorous Patrons Cup. Apart from the star tournament, there is also the Hassan Katsina Cup which would feature medium-goal teams drawn from major polo centres across the country.

    In addition to the activities, the annual Breast Cancer Awareness campaign will create awareness and promote education on breast cancer. The event will provide essential screening services to many women who cannot afford it, as well as enlighten women on the early detection signs.

    Commenting on the Bank’s contribution to sports development in Nigeria, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank said “we are proud to have been associated with the African Patrons Cup Polo Tournament for many years, an event that truly captures the spirit of Sport which plays a crucial role to the socio-economic development of the society. We commend Fifth Chukker Polo and Country Club for the Breast Cancer Awareness campaign as it underscores our commitment to the wellbeing of women, particularly with the indelible role they play to the growth of any nation”.

    The First@Sport initiative remains part of the Bank’s influence in the development of sports in Nigeria. Added to the Bank’s sponsorship of the African Patrons Cup Polo Tournament which has been for 5 years, other tourneys sponsored by FirstBank include the Georgian Cup of Kaduna Polo Club, for over 100 years; the Dala Tennis Hard Court in Kano Club for over 30 years; the FirstBank Lagos Amateur Open Golf Championship in Ikoyi Club for over 60 years; and the Obasanjo Pro-Amateur tournament of Abeokuta Club now in its 6th year.

  • Banker and Regulator Agree Chat Commerce can Radically Shift Financial Inclusion in Nigeria

    Banker and Regulator Agree Chat Commerce can Radically Shift Financial Inclusion in Nigeria

    Clickatell (www.Clickatell.com), the Chat Commerce and business messaging leader, discussed with attendees at Clickatell’s Connect Interact and Transact (CIT) annual event earlier this month how they could drive financial inclusion and reach their revenue goals by adopting Chat Commerce. The event took place at the Radisson Blu, Anchorage in Lagos with industry experts from Clickatell, Ecobank and Central Bank of Nigeria (CBN) sharing insight and tips with an audience of business and technology leaders. 

    Werner Lindemann, Clickatell’s Senior Vice President of Enterprise Sales, Growth Markets, kicked off by pointing out how global brands, like Amazon and Uber, have built their entire business model on convenience commerce – where businesses find ways to deliver services and products to their customers wherever they are and at a time that works for them.

    Lindemann went on to share that the best way to reach customers where they are is on their phone. However, he said apps have a very limited shelf life, saying the average customer regularly uses just five apps on their phone. He advised instead of focusing on building apps, brands should be looking to leverage the power of chat, especially since WhatsApp is the most used (https://bit.ly/3Nab6Q1) social media platform in Nigeria. What’s more, when combined with USSD, companies will be able to reach almost every person in the country. 

    The power of Chat Commerce is especially relevant for the Nigerian banking industry and Lindemann shared that banks can now onboard new clients and conduct Know Your Customer (KYC) standards using chat, meaning banks can serve customers anywhere in the country, in real time.

    Lindemann shared other use cases where Clickatell had radically changed how Southern African businesses engaged with their customers, these included:

    • How a national retailer was able to cut their broadsheet print production and distribution from 5 Dollars to just 3 cents
    • How that retailer now has a 40% to 70% engagement rate on their product specials using WhatsApp, compared to 3% on SMS
    • How a national retailer now uses WhatsApp to enable self-service for their loyalty programme and has eliminated more than 20 000 call centre calls per month to block or replace loyalty cards
    • How a national healthcare chain now allows customers to order and arrange collection of their chronic medication at their nearest outlet, no matter where they are in the country
    • How a Southern African low-cost airline allows travellers to check in and receive their boarding pass on the WhatsApp channel 

    An engaging panel discussion followed the keynote, introduced by Clickatell’s West Africa Managing Director, Samson Isa and facilitated by Uzo Nwani, Commercial Director of Clickatell.

    Opening the discussion, panelists highlighted how their organization had used technology to boost inclusivity. For CBN, this was achieved by its introduction of the eNaira digital currency. For Ecobank, its move to offer a WhatsApp channel allowed them to reach their customers more easily. And for Clickatell, it has been the company’s drive to help banks in Africa improve their reach by moving to the more ubiquitous chat channel.

    “One out of three Nigerians are financially excluded. Therefore the work we have done with Clickatell on the eNaira USSD channel is so exciting. We are also looking to the eNaira to lower the costs of remittances as well as bring down the high costs of cash management. We believe the eNaira will drive inclusive growth and make the Central Bank, as an institution, much more effective in carrying out its mandate,” said Stephen Ambore, Assistant Director, CBN.

    Osahon Akpata, Group Head of Consumer Payments at Ecobank shared the power of mobile with the audience.

    “Across 33 countries, Ecobank Group processed $5.1 billion through our mobile app in 2021 and we built an agency banking network of 110,000 agents, leveraging the ubiquity of mobile devices. While Chat Commerce is still in its infancy for us, we are scaling up the platform for better customer service. We have integrated artificial intelligence into our chatbot, Rafiki, to help solve customer queries quicker and seamlessly. We also have customers using the chat channel for transactions and we plan on expanding its use to product information as well. People are already on these chat platforms, and we aim to serve them with payments where they are,” he said.

    Akpata went on to share that being able to generate QR codes on the WhatsApp channel, make transfers and buy airtime have all been met with great enthusiasm by Ecobank customers, adding that chat will be a key part of the bank’s drive to reach its target of 100 million customers.

    CBN will also be looking to chat to connect with people in Nigeria further in the future.

    “We are looking at chat to help us deliver financial literacy and boost inclusion. When it comes to innovation, chat, including USSD, can help us reach new customers and I am excited about the future opportunities, especially at the base of the pyramid,” said Ambore.

    Lindemann wrapped up the proceedings by saying: “We’ve just kicked off a project with a major bank with around 15 million active customers, and we will be building them a chat banking wallet in just six weeks. In my opinion, chat is allowing us to fast-forward innovation for enterprises. I believe every enterprise has a responsibility to deploy products that have a real impact on their customer and society, and to see this happen in six weeks is testament to the power of chat.”

  • FirstBank unveils new Retail Products

    FirstBank unveils new Retail Products

    First Bank of Nigeria Limited has announced its variety of retail products specifically designed to enhance the operations and sustenance of various businesses in the country. The products: Petroleum Dealership Finance (PDF), Operational Vehicle Finance (OVF) and Commercial Mortgage will strengthen the capacity of businesses to meet their immediate and long-term needs which are required to continually impact the socio-economic development of the country.

    Commercial Mortgage (CM) is designed to meet the funding needs of established small and medium-scale enterprises in viable businesses to acquire Office Premises. This product is structured to part finance the acquisition of business /office premises and warehouses as the building itself is collateral. With its competitive pricing entailing a tenor of 60 months, flexible repayment period as well as flexible collateral structure, the product is designed for SMEs across different sectors of the country including accounting, tech, legal and other specialised disciplines. To access the product, customers must have been in business for at least 5years and must have maintained an active account with either FirstBank or any reputable bank for a minimum of 6 months.

    Operational Vehicle Finance (OVF) is intended to provide part finance to ease the acquisition of brand-new vehicle(s) essential for the day-to-day running of business activities. Its flexible tenure is in 2 variants, comprising 1 – 24 months and 2 – 36 months which is dependent on the brand of the vehicle.  The product is also designed for SMEs as well as traders in all sectors of the economy with verifiable cash flow as they will be at an advantage in sustaining the distribution of goods from one location to another. To be eligible for the service, the customer must have been in business for at least 12 months and should have maintained a healthy and active bank account with either FirstBank for a minimum of 6 months or 12 months with other banks.

    Petroleum Dealership Finance (PDF) is created to offer working capital finance to filling stations with a DPR licence for the purchase of kerosene (DPK), petrol (PMS), and diesel (AGO). This product facilitates access to financing opportunities to purchase products at competitive rates. A 12months facility tenor with a cash flow lending option up to N20M is also available. The product is packed with lots of exciting benefits including access to up to N20million without providing tangible collateral as it bridges the customers’ liquidity gap while also aiding the continuous stock replenishment. The product also provides the opportunity to increase the volume of business as well as margins through consistent growth in turnover through credit financing.

    To take advantage of the product, interested customer(s) must have a valid DPR license, and maintain an account relationship with FirstBank or any bank for at least 6 months. The dealer must have been in business for at least 24 months and the account must have been operated satisfactorily without a history of returned cheques or previous default on facility or facilities granted.

    According to Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank: “as a bank woven into the fabric of society, we are delighted with the indelible mark and role we have played in boosting businesses in the country, irrespective of the economic sector. Our Commercial Mortgage (CM), Operational Vehicle Finance (OVF) and Petroleum Dealership Finance (PDF) are integral to sustainably enhancing business operations while ensuring that our customers remain at an advantage in meeting their immediate and long-term business goals.”

  • Unity Bank doles out N10M Corpreneurship Challenge Grant to Agric, Fashion Entrepreneurs

    Unity Bank doles out N10M Corpreneurship Challenge Grant to Agric, Fashion Entrepreneurs

    Nigerian lender, Unity Bank Plc has doled out a N10 million business grant to 30 corps members who emerged the winners of the eighth edition of its flagship Entrepreneurship Development Initiative, known as Corpreneurship Challenge.

    The winners emerged after a business pitch that took place across 10 states – Rivers, Delta, Sokoto, Edo, Abuja, Akwa-Ibom, Osun, Kano, Bayelsa and Enugu recently.

    At the Rivers State NYSC Orientation camp at Nonwa Gbam Tai, the winners included Moses Obianuju Gloria, a fashion entrepreneur whose business plan won N500, 000 grant for a fabric production company; Emmanuel Godwin Adole, a budding commercial rice farmer who won N300, 000 grant; and Okotie Racheal Dokubere who took home N200, 000 grant to support her fashion production outfit specialising in office and outdoor outfits for women.

    In Delta State, where the Corpreneurship Challenge also debuted in this edition, Adegoke Blessing Hezekiah, a fish farmer emerged as the overall winner to claim the N500,000 grant, while Egbelelo Lucky Etanami, a fashion entrepreneur and Tob Tamaraumien Ruth, emerged the first and second runner up to claim N300,000 and N200,000 prizes respectively.

    Other winners from other states were also drawn from contestants whose business plans included fish production, poultry farming, fashion, soap and cake making, printing, piggery and beverage making.

    To emerge as the winners, their business plans were assessed on originality, marketability, future employability potential of the product and knowledge of the business.

    Speaking during the finale in Delta State, the Group Head, Retail, E-Business and SME Banking, Unity Bank Plc, Mr. Olufunwa Akinmade, said the competition has gradually become Nigeria’s premium business plan contest for emerging entrepreneurs.

    “When we started the initiative in 2019, we had set out to inspire a new generation of entrepreneurs in Nigeria. So far, the initiative has resonated with the target audience and there is no gainsaying the fact, that this will continue to have a huge impact on job creation across the country.

    Represented by Mr. Abu Igemohia Mohammed, the Regional Manager, Edo/Delta Region, Akinmade reiterated, “As we have maintained, the grants are not a loan and we want the money to be directed towards the profitable ventures which have been selected. We continue to encourage the winners to continue to learn the rudimentary lessons necessary to build a successful business. We emphasize that the budding entrepreneurs who take part in this initiative constantly think about the challenges they will face and put the same energy they all have displayed in preparing for this contest in their businesses as they face their post-service year ahead.”

    He said the Bank will sustain the programme in order to achieve a record impact on entrepreneurship support and job creation.

    The Corpreneurship Challenge, which has earned the Bank national recognition for its impact on youth empowerment and job creation, has continued to elicit growing interest among the corps members, attracting over 2000 applicants and participation in every edition.  

    In partnership with the NYSC Skill Acquisition and Entrepreneurship Development, SAED, the initiative prominently features a business pitch presentation that provides the participants with the opportunity to present their business plans and stand a chance to win up to N500, 000 cash in the business grant.  

    So far, Unity Bank has invested over N100 million in the initiative which has now produced 88 winners since it was launched. 

  • FirstBank unveils Single-Digit Loan for Women Entrepreneurs

    FirstBank unveils Single-Digit Loan for Women Entrepreneurs

    …strengthens gender inclusion in Nigeria

    • The FirstGem fund (FirstGem loan) is a single-digit loan scheme, exclusively designed to put women at an advantage in contributing to the socio-economic development of the country.
    • The loan scheme covers female-owned or partnered SMEs in various sectors of the economy
    • Launched in 2016, FirstGem has been impactful in driving financial inclusion, influencing women’s empowerment through gender-advancement programmes like savings culture, financial literacy, wealth management and building an investment portfolio.

    In furtherance of its role in promoting female entrepreneurship across the country, Nigeria’s premier banking institution and leading financial inclusion services provider, First Bank of Nigeria Limited, has announced the launch of the FirstGem fund (FirstGem loan); a single-digit loan scheme, exclusively designed to put women at an advantage in contributing to the socio-economic development of the country.

    The FirstGem loan scheme is designed for female-owned or partnered SMEs in the following sectors- Food/Beverage processing & Packaging, Beauty and cosmetics, Confectionaries, Catering & Restaurants, Transportation (Logistics) and Agric/Agro-Allied (retail value chain). With an interest rate of 9% per annum, FirstGem loan is a collateral-free loan that is available to the bank’s existing and prospective female customers. Based on eligibility, customers can access loans from N500,000.00 to N3,000,000.00.

     To access the loan, Female owned or partnered SMEs can visit the Bank’s website – https://www.firstbanknigeria.com/personal/loans/more-financing-options/firstgem-funds/ – to download and fill out the Retail Loan Application Form. The completely filled form should be submitted to the nearest FirstBank branch with accompanying documents.

    Speaking on the product, Folake Ani-Mumuney, Group Head, First Bank of Nigeria Limited said, “we are delighted with the role our FirstGem product plays in creating an avenue to enlarge the business activities and endeavours of female entrepreneurs across the country. Our FirstGem value proposition offers real solutions to constraints encountered by female entrepreneurs and working professionals, as it exposes women to opportunities for the advancement of their business. We implore every female business-minded individual to take advantage of the FirstGem loan as it puts them at an advantage to contribute their quota to the national economy.”

    Launched in 2016, FirstGem has been impactful in driving financial inclusion, influencing women’s empowerment through gender-advancement programmes like savings culture, financial literacy, wealth management and building an investment portfolio. FirstGem is  designed specifically to meet the needs of the female gender, aged 18 years and above. 

    FirstGem  is targeted at a broad spectrum of women, working professionals, entrepreneurs or market women through an array of benefits such as free business advisory services, access to finance, specialized training on business development initiatives (virtual  and physicalevents),  regular insights on business / investment opportunities. and mouth-watering discounts at partner merchant outlets (spas, salons, grocery stores) offering lifestyle products and services.

    Recently, FirstBank announced its partnership with CDC Group, the UK Government’s development finance organisation to economically empower women-owned and led businesses and local small and medium-sized enterprises (SMEs) in Nigeria. The facility, which is in the sum of US$100 million will have a minimum of 30% allocated in the form of credit lines to women entrepreneurs. 

  • Firstbank Partners with Eloy Foundation to Promote the Sustainability of Female Owned Small Businesses

    Firstbank Partners with Eloy Foundation to Promote the Sustainability of Female Owned Small Businesses

    In furtherance of the need to empower female business owners across the country, The ELOY Foundation, in partnership with FirstBank presents the ELOY Foundation Business Shower, created to support female entrepreneurs on their journey to building sustainable businesses. The support from FirstBank will be carried out through the FirstGem loan scheme designed for female-owned or partnered MSMEs and its SMEConnect initiative.

    The partnership focuses on key sectors of the economy and designed to have female entrepreneurs exposed to essential business skills like training, networking and the ELOY Foundation Business Toolkit, a compilation of business survival skills nuggets. The business shower will avail businesses a platform to pitch their ideas to win seed grants and join the ELOY Foundation Sustainable Empowerment Programme 2022. Participants will also be able to access the FirstGem single digit loan, where eligible

    The ELOY Foundation Business Shower will hold in 5 locations across the country. Kicking off in Lagos on 23 June 2022, the train moves to Port Harcourt on 25 June 2022, then Abuja on 30 June 2022. In July, Kano and Abia will host female business owners on the 2nd and 7th, respectively.

    The ELOY Awards Foundation Business Showers will offer an avenue to sustain women empowerment by providing entrepreneurial training and mentorship from experienced businessmen and women, arming participants with tools and information to help them grow their businesses.

    According to Tewa Onasanya, Founder of the ELOY Awards Foundation, “it is not just enough to talk about empowering business owners, it is very important to sustain empowerment by providing guidance towards their business progress and giving them access to different resources to help them continue to thrive. MSMEs are the backbone of any nation and there is a great need to sustain this chain of the economy. It is on this common ground that FirstBank has partnered with the ELOY Team to contribute meaningfully in empowering women to achieve fulfilment in their chosen business endeavours.“

    Speaking on the partnership, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank said, “we commend ELOY Foundation for their efforts on this initiative as the continued strengthening and inclusiveness of female driven business endeavours is essential to the growth of the national economy. We are happy to partner with ELOY Foundation on its Business Shower. Together, we will drive the entrepreneurial viability of participants and expose them to business nuggets that will take their business to the next level. 

    Woven into the fabric of society for over 128 years, FirstBank plays a leading role in supporting women through strategic empowerment, capacity building and mentorship programs for women in MSME, leveraging its FirstGem and SMEConnect propositions to women across diverse sectors of the economy as well as strategic partnerships with women empowerment organisations like ELOY.

    Registration is currently ongoing for the ELOY Business Shower via the link below.

    ELOY Business Shower Registration

    Female business owners are encouraged to send in their business pitch video and business plan for a spot on the ELOY Foundation Sustainable Empowerment Program and a chance to win a grant for their business.

  • Sterling Launches Imperium Platform for Solar Energy Consumers

    Sterling Launches Imperium Platform for Solar Energy Consumers

    Sterling Bank Plc, Nigeria’s leading digital bank, has launched a new and innovative digital product, known as the Imperium Platform, in a bid to connect consumers and providers of renewable energy (solar solutions) as a viable solution to Nigeria’s electricity crisis.

    The Imperium Platform was launched following the unveiling of the Nigerian electricity industry report entitled, “Powering Nigeria: How Solar Energy Can Become a Sustainable Electricity Alternative.”

    The report was produced by Sterling Bank in partnership with Stears, a digital information company.

    Dele Faseemo, Group Head, Renewable Energy at Sterling Bank, said in a statement issued by the bank that the Imperium Platform seeks to provide clean and affordable energy solutions to interested customers while providing different financing options to customers purchasing the solution outright or paying for the installation and operation of the solution.

    Faseemo explained that Sterling Bank, in partnership with Stears Data, the data collection, analytics, and data access division of Stears, embarked on the study to tackle the problem of providing solar energy in the country.

    The report showed that despite the privatization of Nigeria’s electricity industry, the country still has one of the lowest electrification rates in the world, as 43 percent of its population has no access to grid electricity, an indication that 85 million Nigerians are not connected to – and cannot receive electricity from – the Nigerian transmission grid.

    He said the Imperium would provide a range of purchase options to consumers because solar energy solutions are not one-size-fits-all, so purchasing options should not be either.

     According to him, Sterling Bank employs several purchase models to provide renewable energy solutions for its customers. This ensures that customers with different needs and purchase abilities can access solar energy solutions.

    He listed the options to include outright purchase, lease to own, and power as a service. Using outright purchase as an example, he said that energy consumers could purchase products directly from vendors via the Imperium Platform, a dedicated e-commerce platform hosted by Sterling Bank.

    In lease to own, Imperium provides financing at competitive interest rates for consumers with good credit scores or clean credit checks who are keen to own the assets. Under power as a service, Imperium offers fixed monthly energy-charge options to consumers, but the underlying assets are owned by Imperium as it (Imperium) purchases and owns the assets.

    This saves clients huge capital outlay and maintenance worries, while the monthly energy charge is based on the capacity deployed.

    In this regard, the bank has recently partnered with the Nike Art Gallery to install solar panels at the gallery via the bank’s Imperium outlet as part of its commitment to a renewable energy-powered Nigeria and the development of the nation’s tourism sector.

    The development is a sequel to recent partnerships with the gallery to drive an appreciation and spotlight the investment opportunities available in Nigeria’s arts and tourism sectors.

    The Nike Art Gallery, owned by Chief Nike Okundaye, is one of the largest of its kind in the West African sub-region, with a collection of about 8,000 diverse artworks from various Nigerian artists.

  • Sterling Bank Signs MoU With Optometrists On Funding, Capacity Building

    Sterling Bank Signs MoU With Optometrists On Funding, Capacity Building

    Sterling Bank Plc, Nigeria’s leading commercial bank, has signed a Memorandum of Understanding (MoU) with the Nigerian Optometrist Association (NOA) to automate operations, enhance capacity and provide funding at competitive interest rates for members of the association.

    Speaking at the signing ceremony of the MoU in Lagos recently, Mrs. Ibironke Akinmade, Group Head, Health Finance of Sterling Bank, said the initiative is part of the bank’s vision to be the leading bank for businesses in the health sector. 

    She said, “We have adopted a community approach in engagement with stakeholders in this sector. This will not only give us leverage to develop tailor-made propositions for the community, but it also creates an inroad for engagement of their members through a cluster approach.”


    Akinmade said the bank recently engaged the NOA in a bid to scale on its offerings to the health sector, which includes access to finance (template credit), access to digitalisation (payment platforms and Electronic Medical Records) as well as advisory services, among others.

    The Head of Health Finance said the rationale behind the partnership with NOA is to further position Sterling Bank as the bank of choice for businesses in the health sector, adding that this means more business collaboration and partnership with stakeholders in the health space.

    She said the bank has earmarked N10 billion for the entire health care sector in the country and would accommodate any level of funding that members of the NOA may require. Under the MoU, members of the association will be able to borrow from the Central Bank of Nigeria (CBN) intervention for the health sector at five percent as well as obtain template credit from the bank within 48 hours at a competitive interest rate of 20 percent, which is below the prevailing rate in the banking industry, she said.

    Since 2018, Sterling Bank has concentrated investment in five sectors of the economy under its HEART’s strategy in a bid to make impact in the country’s economic development. The five sectors in the HEART’s strategy include health, education, agriculture, renewable energy and transportation.

    Also speaking, Dr. Obinna Awiaka, President of NOA, said the association wants a bank that would help its members to grow and discovered that Sterling is the only bank that has a passion for the healthcare sector.

    He said the relationship between members of his association and the bank will build the economy because once the healthcare industry is built the economy will also be built.

    Dr. Awiaka said the NOA is satisfied with the relationship with Sterling Bank because in no distant time the bank, in conjunction with healthcare professionals, will help to develop the sector, which will translate to a better future for the country.

    He said the development will make Nigerian professionals that are leaving the country in droves to return to the country to practice and this will reduce medical tourism among the country’s leaders.

    He thanked Sterling Bank for coming on board and taking the bull by the horn to support the healthcare industry.

    The NOA was established in 1968 and is the prime umbrella association representing over 5,000 doctors of optometry across the 36 states of the country and the Federal Capital Territory (FCT), Abuja, as well as all other optometric interest groups in Nigeria.

  • World Earth Day 2022: Unity Bank, RESWAYE Clean Lagos Beach, Plant Trees

    World Earth Day 2022: Unity Bank, RESWAYE Clean Lagos Beach, Plant Trees

    In commemoration of this year’s World Earth Day, Unity Bank Plc in partnership with 3 non-government organisations – Recycling Scheme for Women and Youth Empowerment, RESWAYE, MEDIC and KBG – has conducted a beach cleaning exercise as part of its commitments to promoting environmental sustainability.

    No fewer than 200 members of staff, as well as over 100 members of RESWAYE thronged the venue of the cleaning exercise – the Lagos Kids Beach Garden within the Oba Elegushi beach environs – where they picked and removed over 100,000 plastic bottles from the beach to make the beach safer and reduce ocean pollution.

    The Bank also carried out a tree planting exercise across the country, as the Staff of the Bank across the bank’s branches nationwide planted at least one tree.

    Speaking at the event, the Group Head, Risk Management, Unity Bank Plc, Mr. Chris Nwambu said that the World Earth Day initiatives are part of the Bank’s corporate social responsibility aimed at leading major collaborative initiatives for climate action.

    Citing recent reports on ocean pollution, he decried that “of the over 300 million tons of plastic waste ends up in ocean’s yearly, an estimated 8 million tons of plastic enters our oceans. There are 5.25 trillion pieces of plastic waste estimated to be in our oceans. While 70% of our debris sinks into the ocean’s ecosystem, 15% floats, and 15% lands on our beaches.”

    He added that such activity as the collaboration and partnership by organizations would play a vital role in reducing the threats of ocean plastics and thereby reduce the climate risks they pose to the earth.

    He reiterated that Unity Bank will continue to be very aggressive in terms of environmental protection and sustainability commitments, adding that “in line with the Bank’s agribusiness strategic focus over the past couple of years, the Bank has granted access to credit to businesses in greenhouse farming and metal recycling to the tune of 3.25 billion naira”.

    He said, “But beyond supporting sustainability-related business, the operations of the Bank have adopted sustainable practices in the way we carry out daily activities as a matter of corporate culture. As of today, thirty-one branches of the bank are running on Hybrid Solar Solution while 70% of our 416 ATMs Bank-wide are powered by hybrid solar solutions with a projection to migrate an additional 15% to hybrid solar solutions before the end of 2022.

    “The reduction of carbon emissions by the bank since migrating branches and ATMs locations to Hybrid Solar Energy in 2018 now totals 21,631kg of Carbon Dioxide, saved monthly.”

    Unity Bank has over time promoted corporate and business philosophy that encourages low paper usage, recycling and adoption of renewable energy through increased investment in solar-powered branches and ATMs.

  • FirstBank wins Best Bank in Nigeria and Best Bank in Digital Transformation in Nigeria 2022

    FirstBank wins Best Bank in Nigeria and Best Bank in Digital Transformation in Nigeria 2022

    Nigeria’s premier banking institution and leading financial services inclusion services provider, First Bank of Nigeria Limited has won two awards: Best Bank in Nigeria 2022 and Best Banking Digital Transformation Nigeria at the International Investor Awards 2022, a print and online publication that provides insights, news and visual informative pieces with topics ranging from world markets, investing opportunities, industry analysis and so much more. All content is dedicated to the global investment community that wants to take a step ahead.

    The bank was recognized with the Best Bank in Nigeria 2022 award for its leadership role in promoting financial inclusion in Nigeria which has been integral to improving lives and stimulating businesses of individuals across the country. 

    Also, the Best Bank in Digital Transformation was awarded to FirstBank in recognition of its continued efforts at reinventing its digital banking channels which have been central to reinforcing the Bank’s leading role in promoting a cashless society in the country whilst putting customers at an advantage in enjoying a secured and seamless digital banking experiences. The Bank’s digital banking channels include; its recently unveiled fully automated branch (FirstBank Digital Experience Centre), *894# USSD banking, FirstMobile, First online, and WhatsApp banking amongst others. 

    Expressing delight at the Bank’s performance. Ms Folake Ani-Mumuney, Group Head, Marketing and Corporate Communications First Bank of Nigeria Limited said: “We thank International Investor Awards for the recognition, whilst dedicating these awards to our esteemed customers spread across the world for their unflinching patronage of our services through our 128 years of existence. 

    As a bank that is woven into the fabric of society, we remain committed to ensuring that our customers enjoy safe, secure and advanced financial services as they seamlessly carry out their banking transactions on the go, irrespective of where they are,” she concluded. 

    In 2021 financial year, the Bank received similar recognitions. A few of these are Most Innovative Retail Banking App Nigeria 2021 by Global Banking and Finance Awards; African Bank of the Year 2021 & Innovative Banking Product of the Year 2021 by African Leadership Magazine Awards; Best Internet Banking Nigeria 2021 by International Business Magazine; Best Financial Brand 2021 by Global Brands Awards.

    Others are: Best Consumer Digital Bank 2021 by Global Finance; Alternative Delivery Channel of the Year 2021 by BusinessDay Banks and Other Financial Institutions Awards and 2nd Most admired financial services Brand in Africa by Brand Africa.

  • SIFAX Group Trains 101 Staff in Q1

    SIFAX Group Trains 101 Staff in Q1

    In fulfillment of its human capacity programme, a total of 101 staff from various subsidiaries of SIFAX Group have undergone different trainings in the first quarter of 2022.

    The trainings focused on bespoke needs of the staff, including leadership competence, operations management, terminal traffic management, health, safety & environment, security, digital marketing and corporate governance.  

    Selected traffic managers from Ports and Cargo Handling Services (PCHS) were trained on terminal traffic management. The one-week training was aimed at providing attendees with practical skills that would enable them effectively and efficiently coordinate movement of people, vehicles and equipment within the terminal.

    Operations staff from the same subsidiary were trained on current terminal operational skills, as well as an understanding of the importance of standards, robust processes and procedures and analysing the different elements of container terminal operations especially in understanding the full operational cycle of ship, yard and gate activities. 

    Dockworkers were trained on industrial health, safety and environmental (HSE) management. The HSE training was aimed at setting standards, reinforcing the importance of health and security management at the workplace as well as equipping the training participants with relevant tools to conduct assessment, evaluation and control of potential hazards in the terminal. 

    Security staff from different subsidiaries also completed a 3-day basic security course that was designed to provide critical understanding of their roles in achieving the company’s objectives.

    Speaking on these trainings, Mr. Oluwakayode Alonge, Group Head, Human Resources, SIFAX Group, expressed his delight at management’s commitment to the company’s human capital development through the provision of quality training and refresher courses that would improve staff’s skills and competence and ultimately contribute to company’s business growth.

    Chris Nnamuah, Learning & Development Manager, on his part, said the trainings were products of the Development Needs Assessment conducted recently to identify skill gaps in the company’s workforce. 

  • FirstBank felicitates with JA Nigeria on Nobel Peace Prize Nomination

    FirstBank felicitates with JA Nigeria on Nobel Peace Prize Nomination

    In recognition of the giant strides and efforts by Junior Achievement Worldwide – the parent body of Junior Achievement Nigeria and other Junior Achievement across 119 countries – in equipping young people to solve societal issues, whilst building an entrepreneurship mindset, Junior Achievement World Wide –– has been nominated for the 2022 Nobel Peace Prize.

    Asheesh Advani, CEO of JA Worldwide, shared his perspective in response to the nomination: “Peace is only possible when youth in all countries and regions have economic empowerment. JA Worldwide is honored to receive this nomination and will continue our work to enable all young people to have the skills and mindset to build thriving communities. Our primary hope for solving the world’s most complex problems rests in the young people of today who will be the leaders of tomorrow.”

    The nomination has received commendations from various individuals and corporate bodies across the world, especially those that have been partnering with Junior Achievement to promote self-sufficiency amongst the youth in their quest to making the world a better place.

    Amongst the organisations is First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider. The financial services heavyweight has remained at the forefront of driving youth development and career building in the country.

    FirstBank has been partnering with Junior Achievement Nigeria (JAN) to implement FutureFirst programme which is built around career counselling, financial literacy and entrepreneurship. In the last 11 years, the bank, through its partnership with JAN, has hosted its annual flagship event- the National Company of the Year Competition (NCOY)- which convenes winners of the JA Company Regional Competitions across Nigeria to compete for the National Company of the Year Award.  

    Excited about the nomination, FirstBank’s Group Head, Marketing & Corporate Communication, Mrs. Folake Ani-Mumuney said, “we are proud to be associated with Junior Achievement on the nomination of 2022 Nobel Peace Prize. The nomination is certainly well deserved given the depth and reach of the organisation’s impact on the society based on its programmes worldwide. As an institution that remains woven into the fabric of the society, we are truly delighted for this recognition and it would further reinforce our commitment to drive youth development and empowerment in partnership with JAN’’.

    In response to the news, Executive Director of JA Nigeria (Foluso Gbadamosi), commented: “It’s an honour to be part of the JA Network and we join our colleagues across the world in celebrating this recognition of our efforts to educate and empower young people across the world. Through our unique blend of entrepreneurship, digital literacy, financial literacy, and work readiness programs, we, at JA Nigeria, aim to ensure that Nigerian youth, regardless of socioeconomic status, maximise their potential and take ownership of their economic future as they become leaders of tomorrow”

    Nominations may only be received from heads of state and certain elected officials, university professors in selected fields, past Nobel laureates, and a few other notable individuals. Although the identity of each nominee is officially to remain anonymous for 50 years, we have received permission to share with you that we were nominated by a distinguished Professor of Law and International Affairs who was impressed by JA’s incredible global reach, our success in delivering economic empowerment to youth at scale, and our ability to find unity in diversity.

    Junior Achievement Nigeria (JAN) is part of Junior Achievement Worldwide (JAWW), the world’s largest and fastest-growing non-profit economic education organization with a 120-country network. Since its inception in 1999, JAN has reached over one million students in over 20,000 classrooms in all the 36 states across the country and the FCT through over 5000 volunteers. As part of a global network, JAN can leverage resources and expertise to deliver localized cutting-edge experiential programs built on JAWW’s three pillars of work Readiness, Entrepreneurship, and Financial literacy, to in- and out-of-school youths, ages 5 to 27, free of charge.