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Fidelity Bank pledges support to BBA, ASPANDA customers

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The Chief Executive Officer/Managing Director, Fidelity Bank Plc, Nnamdi Okonkwo exchanges pleasantries with members of Board of Trustees (BOT) of Balogun Business Association (BBA). From right: Chief Okwudibah Anyaorah; Sir IK Obiora; Board of Trustee Chairman and Founding President, Chief Okey Ezibe; and Chief Anselm Dunu all of Balogun Business Association at the BBA annual rally held at Aspamda/International Trade Fair Complex in Ojo, Lagos State.

Nnamdi Okonkwo, the Managing Director of Fidelity Bank Plc, on Wednesday pledged greater support to its customers at the Balogun Business Association (BBA) Trade Fair complex in Lagos. Okonkwo told newsmen that the bank does not only serve the corporate class, but also the middle and lower class of the market.

“We do not only serve the corporate end of the market, we also serve the middle and the lower class of the market. “We are very strong in SME’s. Most of these people are SME’s.  They are the engine block of commerce and trade in the country,” Okonkwo said. The News Agency of Nigeria (NAN) reports that the bank chief spoke on the sidelines of the Balogun Business Association rally in Aspanda, trade Fair complex.

The managing director said his team was at the market to interact with the traders to fashion the best way to serve them. “This is a very major component of our trade and commerce clientele. “We have a standing relationship with most of the traders here running up to 30 years. “My team and I are actually here to know what the customers need to see areas we can support them,” the bank CEO said. He noted that the bank just signed a 50 million dollars SME support bond with the African Development Bank (AfDB) on Tuesday.

 

Okonkwo said that 30 per cent of the money would be deployed to support female entrepreneurs. “We have a huge number of such entrepreneurs in this market,” Okonkwo said. Also Nneka Onyeali Ikpe, Executive Director, Lagos and South West, said that the bank was poised to build the capacity of women entrepreneurs for greater accountability.

She said that women were very detailed in business and show commitment when they collect loans from the bank. In his contribution, Martin’s Izuogbe, the General Manager, Operations of the bank, said the bank had been very supportive to traders, especially in the area of foreign exchange transactions.

He said that through the mediation of online banking, traders could make transfers online from the comfort of their office. During the course of the rally, Chief Tony Obih, President, Balogun Business Association, Aspanda, appealed to the bank to assist them in the building of the entrance and exit gate to the complex and the acquisition of a security van for the complex.

In his response, the bank chief thanked the traders for their loyalty to the bank and pledged the continued support of the bank to the market. “We will help to build the gates immediately and make provision for the security van before the end of the year. “Fidelity bank will sponsor the rally twice every year.

“We will meet with the leadership of the association and see how we can support the novelty football match,” Okonkwo said.

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BUSINESS

FCMB empowers more SME customers in Season 2 of “Race to China Promo’’

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On Tuesday, May 21, 2019 First City Monument Bank (FCMB) rewarded another set of its Small and Medium Scale Enterprises (SMEs) customers in Season 2 of the Bank’s reward scheme tagged “FCMB SME Race to China Promo”. The winners emerged through rounds of electronic selection from the pool of qualified SME customers in the first draws of the promo (for the months of March and April) held in Lagos, Kano, Abia and Oyo states.

Among the winners are eight customers who each won the star prize of an all-expense paid trip to China (return flight ticket and hotel accommodation for 7 nights) to participate in the 2019 edition of the Canton Trade Fair, one of the world’s biggest import and export trade fairs, scheduled to hold later this year. In addition, several other SME customers won various exciting items. These include $500 preloaded shopping cards, business enablers (such as, power generating sets, laptops) and other consolation prizes.

At the Lagos regional draw, Eternal Fabrics Enterprises and Gold Tech Multi-Global Limited, won the star prizes for the months of March and April, respectively, while Jahved Ventures and Sapart Integrated Services Limited in Gombe State emerged winners at the Northern regional draw which took place in Kano. Similarly, Soupah Farm-En-Market Limited and Lade Olagbenro & Company were the star prize winners at the regional draws for South-west, held in Ibadan, Oyo State. Ife Progress Resources Limited and The Congregation of the Mission emerged lucky winners at the South-east/South-south regional draw held in Aba, Abia State.

Among the winners of $500 preloaded shopping cards, power generating sets and laptops are Suraj Furniture Limited, Smoothie Express Limited, Pisces OEA Multibil Limited, Goldmet Ventures, Exclusive Champion Limited, Kingdom Ideas Integrated Limited and Brands Yard Limited.

Season 2 of the ‘’FCMB SME Race to China Promo”, which commenced in May and will run till October, is an extension of the first phase held last year following the huge success and impact recorded. It is designed by FCMB to give extra value, empower and reward its Business Banking/SME customers for their patronage and loyalty over the years. The promo is targeted at business customers who operate any of the Bank’s local currency accounts. There will be a total of 6 draws which will hold monthly.

Speaking on Season 2 of the ‘’FCMB SME Race to China Promo” the Executive Director, Business Development of the Bank, Mrs. Bukola Smith, said, “this is part of our initiatives to demonstrate our commitment to the growth of SMEs, which are key drivers of economic development. The second edition of this promo has been enhanced to ensure that more customers have the opportunity to emerge as winners. From 43 winners in the first edition held last year, a total of 320 customers will win either a trip to China, $500 pre-loaded shopping cards, business enablers and other gifts that are on offer in the second edition. We will continue to create opportunities and offer the very best of products as well as services that will grow the business of our SME customers in a sustainable manner.”

In their comments, the winners commended FCMB for considering it worthy to reward and empower its SME customers. According to the Managing Director of Ife Progress Resources, Mr. Ezeike Ifechukwu, “I was in shock and at same time very happy when I was called by FCMB that I have won a trip to China. I have never been lucky, not even once in my life to win anything. So when I received a text message from FCMB telling me about the Race to China Promo, I didn’t really bother. But having won the star prize, I thank the Bank, our Bank. I am a shareholder of FCMB, a customer for more than ten years, and I maintain series of accounts. FCMB has always been my number one Bank. Today, I repledge my loyalty to FCMB. I will ensure that I drive more customers to FCMB”.

Another star prize winner of a trip to China, Mrs. Joyce Ajanah, who is the Managing Director of Gold Tech Multi-Tech Limited, said, “I am very excited, really short of words and extremely grateful to FCMB. This is definitely going to make my business grow significantly. The FCMB Race to China promo is a very good initiative. The Bank is going places”.

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Zenith Bank emerges first Nigerian Bank to repeatedly audit its carbon emissions

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L-R: Dr. Temitope Fasoranti, Executive Director, Zenith Bank Plc, Lynsey Elston, Country Manager, V4 Advisors, at the official presentation of the certificate for Greenhouse Gas Auditing for the 2018 Financial Year to Zenith Bank Plc by V4 Advisors, held at bank’s head office in Lagos, recently. PHOTO: Zenith Bank Plc

Zenith Bank Plc has received a certificate for Greenhouse Gas Auditing by V4 Advisors after successful completion of its Greenhouse Gas Audit for the 2018 Financial Year.

The presentation of the certificate and the report of the Auditors was done by V4 Advisors at the Zenith Bank Head Office on May 21, 2019.

Temitope Fasoranti, the executive director, who received the certificate on behalf of the bank, said Zenith started this effort with the 2016 Financial Year and has carried out three greenhouse gas audits to date.

He explained that the bank understands the relationship between greenhouse gas emission and climate change and appreciates the role it is expected to play towards combating the menace of climate change.

Also speaking on the milestone, Lynsey Elston, V4 country manager, highlighted that Zenith Bank is the first Nigerian bank to consecutively report the carbon emissions of their head office in Lagos using a certified tool which is built on the internationally recognized “GHG Protocol”.

She commended the bank for proving its commitment to United Nations Global Compact (UNGC) Goal 13, Climate Action, in addition to complying with Global Reporting Initiative (GRI) Standards.

In response to her, the executive director said the initiative has significantly helped the bank reduce its overall carbon footprints and drive energy efficiency.

V4 Advisors is a UAE-based provider of advisory and consulting solutions on climate change and greenhouse gas emissions.

The firm’s calculation and reporting tool have been reviewed by the World Resources Institute (WRI) for conformance with the GHG Protocol Corporate Standard.

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BUSINESS

Access Bank threatens to publish names of debtors in June

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The management of Access Bank has threatened to publish the list of all its delinquent debtors.

In a statement released on Thursday, the bank said it is acting in line with a directive from the Central Bank of Nigeria (CBN).

“All Access Bank Plc (including former Diamond Bank Plc) debtors are directed to pay up their past due obligations in order to avoid punitive actions being taken against them,” the bank said.

“Please note that we shall publish our debtors’ names in newspapers in two weeks.

“Similarly, in the event that these obligations are not fulfilled, we shall take such further actions against such delinquent individuals and companies as we may consider necessary and shall relentlessly pursue full recovery of all our debts.”

Deepening its threat, the bank said it would collaborate with other banks to ensure that habitual debtors are excluded from the banking system.

“Furthermore, all debtors will be sanctioned by the CBN and banned from participating in the Nigerian Foreign Exchange and Securities Exchange Markets and registered on the Credit Risk Management Systems (CRMS) Bureau as bad debtors making them, their directors and related entities illegible for any credit in the Nigerian Financial Markets.”

Earlier in May, the bank had announced that it would pay off a $200 million Eurobond issued by Diamond Bank in 2014.

Access Bank became Nigeria’s largest bank after completing a merger process with Diamond Bank in March.

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