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FirstBank restates commitment to children with special needs

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L-R: Matthew Daniel, student of Wesley School; Olusegun Alebiosu, Chief Risk Officer, FirstBank; Seyi Olusanya, student of Wesley School; Dr. Adesola Adeduntan, Chief Executive Officer, FirstBank; Olayiwola Adeola, student of Wesley School and Mr. A.K. Alimi, Principal, Wesley School 1, during FirstBank's visit to Wesley School for the Hearing Impaired at Surulere, Lagos as part of activities marking FirstBank's CR&S week 2019.

First Bank of Nigeria Limited, Nigeria’s premier and leading financial institution, has reiterated its commitment to impact the lives of the less privileged and children living with disabilities across the country and in its host communities across the world.

The Chief Executive Officer of FirstBank, Dr. Adesola Adeduntan, made this pledge at the weekend (Saturday, 6 July) when he led a team of FirstBank volunteers on a visit to Wesley School for the Hearing Impaired, Surulere, Lagos in the spirit of the Bank’s commitment to encouraging people to Start Performing Acts of Random Kindness (SPARK). SPARK, a values-based initiative is one of the key activities of the annual FirstBank’s Corporate Responsibility and Sustainability (CR&S) Week.

Speaking to the pupils and teachers of the school, Adeduntan said the visit was aimed at demonstrating kindness, as it is one of FirstBank’s brand values that positively affects quality of life.

He said, “it is our belief that if all of us can show acts of kindness to people around us, we will make the world we live in a much better place for everyone. Our decision to come here today is to show appreciation to management for shouldering the enormous responsibility of taking care of these children with special needs. This visit is also to assure the children who are schooling here that, as the popular saying goes, you will not walk alone.”

Speaking further, Adedutan encouraged the pupils of the school to seize every opportunity availed them to reach their maximum heights possible, stressing that as an institution, FirstBank, woven into the fabric of the society will always be there to provide them the support they require within its available means and resources.

Asides the visit to Wesley School, 23 other charity homes/institutes, including camps of Internally Displaced People (IDP) were visited by FirstBank staff volunteers, led by senior members of staff. The Bank’s Executive Director, Public Sector, Abdullahi Ibrahim with other volunteer staff visited the School of the blind, Jabi, Abuja while its Group Head, Corporate Banking, Remi Ajose- Adeogun visited the Down Syndrome Foundation of Nigeria, Fagba, Lagos. Other locations visited by the Bank include Madinatu and Almiskin IDP Camp, Maiduguri, amongst others. Food supplies., provisions, toiletries and educational materials were delivered to all the visited homes.

The 2019 FirstBank’s CR&S Week was held from 1 – 6 July across Nigeria’s six geopolitical zones and the Bank’s business locations in Ghana, Gambia, Guinea, Senegal, Sierra Leone, DR Congo and The United Kingdom.  The CR&S Week is a social impact initiative the Bank started two years ago, with its staff dedicating a whole week to impact lives of individuals living in its host communities.

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BUSINESS

Senate investigates banks for not remitting taxes on deposits

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The Senate on Tuesday directed its Committees on Banking, Insurance and other Financial Institutions, to investigate alleged non-remittance of taxes on bank deposits and dividend payments.

The Witness learnt that the it also asked the committees to report back within four weeks.

This followed the adoption of a motion by Senator Uche Ekwunife (PDP, Anambra).

Ekwunife said: “It has been discovered that the Central Security & Clearing System, CSCS and banks in Nigeria do not remit withholding tax on bank deposits and dividends to state government as and when due.

“Most state governments are unable to pay salaries and meet their financial obligations as a result of poor and dwindling revenue.

“Billions of naira are being held by banks either in form of under remittance or non remittance of withholding revenue.”

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CBN to banks: You must seek approval before sacking staff

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The Central Bank of Nigeria, CBN has said banks are no longer allowed to sack more than five staff without its approval.

This was part of the communiqué released by the Bankers Committee after its meeting on Friday.

The committee, in a circular signed by Director, Financial Markets Department, CBN, Angela Sere-Ejembi, emphasized that all banks should send a sample of Contract Letter issued to outsourced staff + SLA with the company being used to run outsourced staff.

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It stated, “Banks should note and be guided by the CBN circular in respect of laying off staff that is more than five. This requires apex bank’s notification and approval going forward.”

The Bankers’ Committee had said the mass sacking in banks would be reduced in the shortest time possible.

The committee noted that while it was working on how to reduce the level of job losses in the sector, there would always be reasons people would have to be sacked from their workplaces.

It explained that while the decision to sack bank workers had elicited a lot of sentiments from both the public and private sectors of the economy, the banks understood the implications of having to relieve workers of their jobs in view of the current economic situation in the country.

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Ecobank Nigeria to host Regional Trade Forum 2020

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Ecobank Nigeria to host Regional Trade Forum 2020

Ecobank Nigeria is set to host its 2020 Regional Trade Forum in Lagos.

The Witness gathered that the forum taking place in March, will be a two-day event, providing the opportunity for exporters and importers within the African region to exhibit their products in a marketplace scenario with panel discussions by highly experienced and diversified stakeholders and leaders of thought in the industry.

Ecobank Nigeria is a member of the pan African banking group with unparalleled Africa wide Network Advantage across 33 countries catering for businesses and providing world class trade services to its customers. The Ecobank Group network has over 30 years been enhancing the financial integration of the continent. The Group provides solutions to facilitate trade in the various trade corridors and groupings across Africa

Announcing the Trade Forum in Lagos, Sunday Abah, Head Trade Finance of Ecobank Nigeria said Ecobank is using the forum to unveil its comprehensive trade solutions to its existing and prospective customers alike by sharing the various payment methods available to facilitate cross border trade throughout its network across Africa. According to him, Ecobank recognizes the role of exporters and importers in driving economies through trade.

“By creating a networking forum for importers and exporters via the trade exhibition slated for the first day of the forum, the Bank extends support to stakeholders in export and import businesses.

“Ecobank’s trade products and solutions are designed around two broad areas: Trade finance which enables customers benefit from adequate and well mitigated credit facilitation in the area of Import finance, export finance, bill discounting, trade loans, distributor finance, structured trade and commodity finance amongst others; also we do Trade Services, which gives our customers the advantage of speedy turnaround time and error free processing of Import Letters of Credit, Import collections, Customs bonds, Export collections and regional trade services amongst others,” he noted.

Ecobank’s unique intra-Africa trade solutions enable settlements of trade transactions and mitigation of payment risk; provide regional solutions and enable exporters obtain payment guarantees without the need for a letter of credit and its related costs to the importer. Ecobank works closely with clients in reviewing key factors regarding transactions processing, settlements, financing, and risk mitigation as well as credit enhancement. The bank boasts of a unique and large Pan-African platform that positions it to support trade at all levels. Its technology platform is designed to help unlock the opportunities of the continent through standardization across 33 countries, while fueling regional integration, trade and investment across borders.

The Ecobank Africa Trade Forum is expected to attract hundreds of guests and participants. Leaders from across Ecobank Group will also be attending to share their market specific trade knowledge and information.

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