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FirstBank Bags Corporate Bank Honours at 2023 Euromoney Excellence Awards

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FirstBank, Nigeria’s premier financial institution and financial inclusion services provider, was announced as the Best Corporate Bank at the recent prestigious Euromoney Awards for Excellence, Nigeria 2023.

The Bank clinched the coveted award based on its 130-year commitment to enabling its corporate customers achieve success through relevant and tailored financial solutions. FirstBank’s continuous investment in technology has been crucial to its leading industry role in optimally meeting the needs of its corporate customers. Recent investments in technology include the development of its smart and interactive Transaction Banking Platform known as FirstDirect2.0.

FirstDirect2.0 provides a one-stop shop online banking platform for corporates, offering best-in-class capabilities such as Payments, Collections, and Account Services, and a locally focused phased implementation of Trade and Supply Chain Finance – a first for the Bank.

The platform offers customers various solutions for corporate cash management (Payments, Collections and Liquidity Management). It will also deliver end-to-end trade solutions for corporate clients covering L/C creation, tracking, bidding and reconciliations.

The Bank’s Corporate Banking model is focused on ensuring that its clients get the same quality of service across the Bank’s geographical locations. The execution of this approach through the deployment of the Global Account Management (GAM) Framework, implemented to enhance cross-relationship management tailored to Customers with a Pan African footprint.

Dedicating the awards to its customers, Dr Adesola Adeduntan, CEO FirstBank Group said: “We are thrilled to announce that we have been recognised as the Best Corporate Bank in Nigeria at the Euromoney Awards for Excellence 2023.

“We say a heartfelt thank you to all our incredible customers for trusting us. This award is dedicated to YOU,” he concluded.

According to Euromoney, the “Awards for Excellence” – is the definitive annual awards programme of the global banking industry. The awards represent the highest distinction to the banks and bankers who matter most in an industry where differentiation is highly sought after and exceptionally difficult to demonstrate.”

“For over 30 years, Euromoney has recognised the banks and that have demonstrated their differentiation, pioneering a comprehensive awards programme that today remains the industry benchmark globally, it concluded.”

Amongst other awards, FirstBank recently added to its awards kitty, Best Corporate Bank Western Africa, 2023, by Global Banking and Finance; Best Internet Banking in Nigeria, 2023 by International Business Awards; the Most Innovative Banking Brand in Nigeria by Global Brands Awards as well as the Financial Institution of the Year 2023 by Afreximbank Pan-African Business and Development.

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NNPCL’s Claim of Buying PMS at N898 Misleading, Not True, Says Dangote Refinery

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The rivalry between the Nigerian National Petroleum Company Limited (NNPCL) and the Dangote Refinery, took a dramatic turn Sunday when Refinery refuted claims made by the spokesperson of the NNPCL, Olufemi Soneye, that the refinery sold Premium Motor Spirit (PMS) to the company at N898 per litre.

Recall that on Sunday, the NNPCL as the sole buyer, commenced lifting of PMS, also known as petrol, from the 650,000 barrels per day refinery at Ibeju Lekki, Lagos State.

However, the Dangote Refinery, in a statement issued Sunday night by the Group Chief Branding and Communications Officer of Dangote Industries Limited (DIL), Mr.  Anthony Chiejina, described the claim as misleading and an attempt to undermine the significant progress made in addressing Nigeria’s long-standing energy challenges.

Chiejina emphasised that the refinery’s current stock of crude was procured in dollars, adding that sales to the NNPCL were conducted in dollars, resulting in considerable savings compared to the prices of imported fuel.

He also reassured Nigerians that there will soon be adequate petrol supply across the country, reaching the most remote local government areas.

The refinery urged Nigerians to disregard the claims made by NNPCL spokesperson, Mr Olufemi Soneye and await the formal pricing announcement from the Technical Sub-Committee on Naira-based crude sales, appointed by President Bola Ahmed Tinubu.

The refinery reiterated its commitment to ensuring the availability of quality petroleum products and ending fuel scarcity in Nigeria.

The statement reads, ”Our attention has been drawn to a statement attributed to NNPCL spokesperson, Mr Olufemi Soneye, that we sell our PMS at N898 per litre to the NNPCL.

”This statement is both misleading and mischievous, deliberately aimed at undermining the milestone achievement recorded today, September 15, 2024, towards addressing energy insufficiency and insecurity, which has bedevilled the economy in the past 50 years.

”We urge Nigerians to disregard this malicious statement and await a formal announcement on the pricing, by the Technical Sub-Committee on Naira-based crude sales to local refineries, appointed by His Excellency, President Bola Ahmed Tinubu GCFR, which will commence on October 1, 2024, bearing in mind that our current stock of crude was procured in dollars.

”It should also be noted that we sold the products to NNPCL in dollars with a lot of savings against what they are currently importing. With this action, there will be petrol in every local government area of the country regardless of their remote nature.

”We assure Nigerians of availability of quality petroleum product and putting an end to the endemic fuel scarcity in the country.”

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First Million Naira Winner Emerges in Glo Jolly Win Promo

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Olieh Somtochukwu, an employee of a real estate firm in Anambra State, has become the first person to win N1 million in the Glo Jolly Win promotion. The promotion is being run in partnership with Tetragrammaton, NCC-licensed Nitroswitch, an aggregator company, and Tetragrammaton, a value-added service provider.

Somtochukwu staked just N100 to participate in the promo, and he won the first million Naira prize money in a promo draw conducted in accordance with the protocols of the National Lottery Regulatory Commission (NLRC).

He was presented with the money at a brief ceremony on Wednesday in Lagos. Before the event was concluded, Somtochukwu, who had travelled from Onitsha, Anambra State, all the way to Lagos to collect his reward, received a credit alert of N1 million on his phone. He was ecstatic and could not contain his joy. He revealed that he forgot about the lotto game after playing it and was surprised to receive a call informing him that he had won N1 million. He was skeptical of the information at first, believing it only after arriving at Globacom’s office and realizing he was the centre of attention.

Said Somtochukwu: “I was very much surprised. Even up to now, I’m still shocked. I am short of words to express how I feel today. I thought it was a scam when I was called, I thought it was one of those random calls you get, but on coming here, I can say I am happy with what has happened here. I’ve received the alert for the N1 million”. Somtochukwu affirmed that the money came in at a time that he needed help to take care of challenges with his health.

According to Mojeed Aluko of Globacom’s Value Added Services Department, “the Glo Jolly Win is a lottery service where subscribers can win loads of airtime and cash prizes for as low as N100 daily, with no need for downloads or any storage usage on phones. Users can answer trivia questions or spin a wheel to win.” With the chance to become millionaires like Somtochukwu, subscribers can choose their favorite services from Jolly Trivia, Wheel, Win & Life, and enjoy the thrill and excitement of playing the lotto.

Customers have the choice of setting it up for auto renewal or for a one-time daily bundle. In addition, customers can choose between a one-time weekly subscription and an auto renewal package, as well as a one-time monthly package with auto renewal feature. To play the lottery, users can dial *20152#. They can also text JWD, JWW, or JWM to 20152, depending on their preference.

The CEO of Nitroswitch, Mr. Chidi Nnadozie, expressed his company’s pride in collaborating with the Glo network to offer thrills and great rewards to Glo subscribers through the lottery. He assured Glo customers that taking advantage of the different lottery deals on the Glo network would bring them even more enjoyment and incredible rewards.

Nitroswitch holds a license to incorporate content providers’ video, animation, gaming, infotainment, and lottery services to Nigerian mobile network operators.

Tetragrammaton, another Value-Added Service provider approved by the NCC, provides lottery, entertainment, video, and gaming services to mobile customers. Along with other fascinating value-added services on the Globacom network, the company owns the lottery services known as Jolly Suite.

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Reps Caucus Condemns Increase in Petrol Price, Demands Reversal

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The Minority Caucus of the House of Representatives has condemned the recent increase in the price of petrol by the Nigerian National Petroleum Corporation (NNPC).

The leader of the minority caucus in the House, Hon. Kingsley Chinda, conveyed the condemnation through a statement on Thursday in Abuja.

He argued that the development is not only ill-timed but also grossly insensitive to the harsh economic conditions currently being experienced by Nigerians across the country.

Chinda said that the hike is coming at a time when the nation is grappling with unprecedented economic challenges.

He added that a further increase in the price of gasoline would not only exacerbate the suffering of the average Nigerian.

The lawmaker said that the ripple effects of such an increase were far-reaching, impacting the cost of transportation, food, and other essential goods and services.

He said that this would ultimately erode the already fragile purchasing power of millions of citizens, pushing more families into poverty.

According to him, the Minority caucus is deeply concerned that this decision by the NNPC appears to have been made without adequate consultation with relevant stakeholders.

This, he said, includes the National Assembly, which represents the interests of the people.

He argued that the unilateral action disregarded the principles of transparency, accountability, and fairness, which should guide decisions affecting the lives of the citizenry.

“We, therefore, call on the Federal government to urgently intervene and reverse this unwarranted increase in petrol prices.

“We also urge the government to explore and implement more sustainable measures to stabilise the economy without placing an additional burden on the people.

This, according to him, includes prioritising the rehabilitation and upgrading of our local refineries and curbing corruption within the petroleum sector.

He urged the Federal government to ensure that subsidies genuinely benefitted the masses rather than a few privileged individuals.

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