Business

FirstBank Holds SMEConnect Webinar, Enlightens Entrepreneurs on Accessing Finance for Businesses

Published

3 years ago

July 7, 2021

Eric

Nigeria’s premier and leading financial inclusion services provider, First Bank of Nigeria Limited will hold its SMEConnect Webinar by 11am on Thursday, 8th July 2021 with “The ABCs of Accessing Finance for your Business” being the topic to be discussed at the event. Participants are required to register for the event via https://firstbanknigeria.zoom.us/webinar/register/WN_SU8vLK_OToec2EwZLqljZA

The event topic is designed to expose SMEs to various finance opportunities that they can access and utilise to foster the continued growth of their business, whilst optimising the sustenance of their business operations in contributing to national development.

SMEConnect webinar is one of the ways through which FirstBank delivers its capacity building pillar of its value propositions to SMEs. The Bank’s SMEConnect initiative is focused on impacting SMEs in key areas that affect their business growth and development.

The scope of the Bank’s SME services covers small/medium scale manufacturing firms, merchants (suppliers, distributors etc.), professional firms (law, consulting, audit etc.), agricultural, Churches, Mosques and NGOs whose annual debit turnover is between N5M and N500M.

Guess Speakers at the event include: Damilola Salawu – Partner/Head Technology, Innovation and Fintech, Olaniwun Ajayi LP and Patrick Ehidiame Akhidenor – Head Credit Analysis & Processing, First Bank of Nigeria Limited.

Speaking on the event, Deputy Managing Director, Mr. Gbenga Shobo said “amongst many factors, access to finance, plays a critical role to the growth and sustenance of every business venture, especially the SMEs and we are delighted with the role we continue to play in connecting SMEs to finance opportunities that are essential to boosting their businesses.

With FirstBank’s over 127 years of being woven into the fabric of society, we remain at the forefront of positively impacting businesses, especially the SMEs and enjoin all business owners and individuals intending to own theirs to be part of the event’’.

Only recently, FirstBank was honoured with the Africa Bank of the Year and Innovative Banking Product of the Year Awards in recognition of its sterling performance in delivering over 127 years of development-oriented services as Africa’s foremost financial inclusion services provider.

These awards came on the heels of a hat-trick of awards the Bank bagged – the 2021 ‘’Retail Banking CEO of the Year Nigeria’’, ‘’Most innovative Retail Banking App Nigeria’’ and ‘’Best CSR Bank Nigeria’’ – at the Global Banking and Finance awards. In addition, Brand Africa ranked FirstBank the second most admired financial services brand for the second year running.

What remains apparent in the awards is the Bank’s commitment to innovation as exemplified in FirstMobile. Easy to use, secure, fast, convenient (offering “Instant Banking, Anywhere!”), innovative and interactive, FirstMobile was designed to offer lifestyle solutions which make banking an exciting experience for FirstBank customers. The self-service mobile banking product allows customers in possession of the phone linked to the mobile number on which they receive FirstBank SMS alert messages and who possess a Naira Mastercard (debit) or a Verve debit card and have downloaded and activated the app, to transact via its secure platform on their smart devices without intervention from FirstBank. The app can be downloaded from Google Play Store (for users of android devices) or the App Store (for iPhone and other iOS devices’ users) and also from FirstBank website via the URL: https://www.firstbanknigeria.com/getfirstmobile.

Business

FirstBank Appoints New MD/CEO, Alebiosu

Published

2 days ago

April 22, 2024

Eric

First Bank of Nigeria has appointed Olusegun Alebiosu as its new Managing Director with effect from April 2024.

The Bank stated this in a release signed by its acting company secretary Adewale Arogundade.

Alebiosu takes from Adesola Adeduntan, who resigned abruptly on Saturday with eight months left to complete his tenure in December 2024.

The release stated that “following the resignation of the managing director/CEO of FirstBank, Dr. Adesola Adeduntan, the Board of Directors has appointed Olusegun Alebiosu as the acting CEO of the 130-year-old institution.

“The appointment takes effect immediately and is subject to the approval of the Central Bank of Nigeria.”

The release stated that Alebiosu was until this appointment the executive director, chief risk officer and executive compliance officer since January 2022. Prior to that, he was the Group executive/ chief risk officer, a position he held since 2016.

“Alebiosu brings to the executive management of FirstBank over 28 years’ experience in the banking and financial services industry with cross-functional exposure to Credit risk management, Financial planning and control, Credit and marketing, Trade, Corporate and commercial banking, Agriculture financing, Oil and Gas, Transportation (including Aviation and Shipping) and Project financing.”

It added that the new acting MD/CEO commenced his professional career in 1991 with Oceanic Bank Plc (now EcoBank) and prior to joining FirstBank in 2016 served as Chief Risk Officer at Coronation Merchant Bank Limited, Chief Credit Risk Officer at African Development Bank Group and Group Head, Credit Policy & Deputy Chief Credit Risk Officer at United Bank for Africa Plc.

“He is an alumnus of Harvard School of Government and holds a Bachelor’s degree in Industrial Relations and Personnel Management. He also obtained a Master’s degree in International Law and Diplomacy from the University of Lagos and holds a Master’s degree in Development Studies from the London School of Economics and Political Science.

“He is a member of various professional bodies namely, Fellow, Institute of Chartered Accountants (FCA), Associate, Nigeria Institute of Management (ANIM), Chartered Institute of Bankers of Nigeria (CIBN) and Member, Nigeria Institute of International Affairs.”

Business

Again, Naira Slumps Against Dollar, Trades at N1,169/$1 in Official Window

Published

4 days ago

April 20, 2024

Eric

The Naira, on Friday, slumped for the second consecutive day against the American dollar at the official window trading at N1,169/$1, according to data from the Nigerian Autonomous Foreign Exchange Market (NAFEM).

At the end of trading on Friday, the Naira lost N15 against the dollar when compared to the previous exchange rate of N1,154/$1 on Thursday, April 18, 2024.

The intra-day high and low recorded during the day were N1,236/$1 and N1,021/$1 respectively, representing a lean spread of N215/$1.

Similarly, the Naira slumped against the dollar at the parallel market for the second consecutive day to trade at N1,150/$1 representing a loss of N50 when compared to the N1,100/$1 it traded the previous day.

The British Pound also slumped against the Naira by N50 to trade at N1,500/£1 as against the previous trading price of N1,450/£1 representing a loss of N50 for the local currency,

The Canadian dollar however closed flat against the Naira to trade at N1,000/CA$1 same as the previous trading day rate of N1,000/ CA$1.

The Euro also slumped against the Naira to trade at N1, 280/€1 as against the rate of N1,200/€1 the previous trading rate indicating a gain of N80 in the European currency.

Business

Glo Launches New Internet Solution Products for Homes, Businesses

Published

2 weeks ago

April 8, 2024

Eric

Two new products, which provide internet connectivity solutions specially designed for Residential and SME commercial customers, have been unveiled by digital solutions company, Globacom.

The products, Fibre to the Home (FTTH) and Fibre to the Business (FTTB) were packaged for Glo customers to enjoy reliable and high speed internet through linked fibre services.

Globacom said in a statement in Lagos “With these services, businesses and homes can access dedicated internet speeds of up to 1GBps, allowing unlimited internet usages for seamless video calls, video and music streaming and a whole lot of other dedicated usages to promote business success and equally provide endless entertainment for homes”.

It explained that the new product comes with a unique opportunity for “Residential Estates, High Rise Apartments, Commercial SME Estates to enjoy dedicated high speed internet in their cluster”.

These services, according to Globacom, give exceptional experience and unmatched speed for users at home or in offices and are provided through hi-speed fibre – unlike copper which was being used in the past.

Positioning itself as the premier provider of innovative solutions for businesses of all sizes, Globacom assured customers of the best value for money with the new offerings, adding that users who sign on for these services will also enjoy fully dedicated bandwidth.

“We are committed to delivering the most cost-effective data connectivity experience for homes and businesses in addition to providing dedicated and reliable services.” Globacom concluded.