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FirstBank Wins 2024 Asian Banker Awards for Best SME Bank in Nigeria, Africa
Nigeria’s premier financial institution and financial inclusion services provider, FirstBank of Nigeria Limited, has bagged two awards: Best SME Bank in Africa and Best SME Bank in Nigeria at the highly converted Asian Banker Global Excellence Retail Awards 2024.
The Excellence in Retail Finance Awards Programme, which includes the Global Excellence in Retail Finance Awards and The Annual Digital Bank Awards, is one of the most established awards of its kind, recognising exceptional innovation, leadership, management, and performance in the financial sector.
The 130-year-old institution bagged these two awards because of its full suite of solutions across its franchise to serve the needs of medium and small enterprises in regard to core financial needs and offer flexible financing options across the entire lifecycle needs of customer’s business.
According to The Asian Banker’s Strategic Business Intelligence for the Financial Services Community “FirstBank demonstrated exceptional performance, notably in its SME sector, by achieving more than 100% revenue growth while maintaining a reduced cost-to-income ratio of 16.5%. Small and medium-sized enterprises contributed 26% of overall bank revenue. Furthermore, the institution’s SME customer base grew by 7%, reaching a total of more than one million. For its significant growth in the SME business, the award for Best SME Bank in Nigeria and in Africa goes to FirstBank.”
FirstBank supports its customer by providing exceptional value proposition around each industry sectors, digital innovation of the bank’s processes and financing options, and a strong relationship banking approach to create best in class customer engagement. The Bank’s integrated platform not only help businesses grow and reduce operational costs but also facilitates expansion into regional and overseas markets through its Sub-Saharan Africa subsidiaries.
Expressing her delight on the recognition, the Group Head, Marketing & Corporate Communications, Ms. Folake Ani-Mumuney said: “We thank the Asian Banker Awards for the recognition and dedicate these awards to our esteemed SME customers that have progressively impacted the socio-economic growth of not just Nigeria but also the African continent given their critical role as the engine of any economy.
“For 130 years, FirstBank has continued to enable the giants in our customers including our SMEs as well as other stakeholders, and we remain committed to delivering the ultimate ‘gold standard’ of value and excellence.” she concluded.
Amongst other awards, FirstBank recently added to its awards kitty, Best Private Bank in Nigeria and Best Private Bank for Sustainable Investment in Africa by Global Finance, for its exceptional leadership in integrating sustainable practices into its banking operations.
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Buhari Denies Ownership of Abuja Land Revoked by Wike
Former President Muhammadu Buhari, on Thursday, denied ownership of a piece of land purportedly allocated to him by the Federal Capital Territory Administration (FCDA) in Abuja.
Media reports indicate that Minister of the Federal Capital Territory (FCT), Nyesom Wike, has revoked the ownership of 762 plots of land in the Maitama 1 District of Abuja, citing non-payment of statutory fees.
According to the trending reports, high-profile figures, including former President Muhammadu Buhari and former Chief Justice Walter Onnoghen, are among those affected.
The FCTA had also issued a two-week ultimatum to 614 other individuals and organisations, demanding they settle outstanding Rights of Occupancy (R-of-O) fees or risk losing their plots.
However, debunking the reports, the former President stated he is “not the owner of the said plot of land which is allocated in the name of a ‘Muhammadu Buhari Foundation.’”
In a statement issued by his media aide, Garba Shehu, in Abuja, the former President explained that he turned down the offer by the administration when it was presented to him.
The media aide further clarified: “When he and his cabinet members were invited to fill the forms and obtain land during his tenure in office, he returned the form without filling it, saying that he already had a plot of land in the FCT and that those who did not have should be given. He, therefore, turned down the offer.
“All those jumping up and down in the digital space talking about the rightfulness or the lack of it on the reported seizure of Buhari’s land in Abuja to get their facts right and stop dragging down the name of the former president.
“As with anything Buhari—and there is no surprise in this at all—there is a lot of buzz in the media on the reported seizure of a piece of land by the authorities of the Federal Capital Territory, Abuja, FCTA, allegedly belonging to the former President Muhammadu Buhari.
“Former President Buhari is personally not the owner of the said plot of land, which is allocated in the name of a ‘Muhammadu Buhari Foundation.
“The Foundation was itself floated by some utilitarian individuals around him who, it must be said, went about it in a lawful manner with the support of a number of well-meaning persons.
“But they ran into a roadblock in the land department of the FCDA, which handed them an outrageous bill for the issuance of the certificate of occupancy, very high in cost that did not at all compare with the bills given to similar organisations.
“It may have been that this was not erroneous, but a deliberate mistake, making the revocation of the land no surprise to anyone.
“As a person, the former President has a plot of land to his name in Abuja,” he added
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Dangote Refinery, a Wonder of Modern Technology – Japan Ambassador, Business Community
The Dangote Refinery and Petrochemicals complex has been hailed as an astonishing masterpiece, showcasing Nigeria’s technological advancements on the global stage.
This accolade was shared by a delegation from the Japanese Business Community in Nigeria, led by Japan’s Ambassador-designate to Nigeria, Suzuki Hideo. The Dangote Group also reiterated that its petroleum products are in demand worldwide, as it expands its polypropylene section to reduce Nigeria’s reliance on imported polypropylene, a crucial material used in packaging, textiles, and the automotive manufacturing industries.
The Japanese delegation, which toured the impressive facilities housing both the Dangote Petroleum Refinery and Petrochemicals as well as Dangote Fertilisers, commended the state-of-the-art technology on display, noting that it reinforces Nigeria’s role as the gateway to Africa.
Managing Director of the Japan External Trade Organisation (JETRO), Takashi Oku, remarked that while Nigeria remains the gateway to Africa, the Dangote Refinery stands as a remarkable project that showcases the country’s technological progress. He added that the facility, as the world’s largest single-train refinery, is a point of immense pride for Nigeria. JETRO is Japan’s governmental organisation for trade and investment.
“We had heard about the excellence of the Dangote Refinery through the media but seeing it in person has left us truly amazed by its vastness and grandeur. It demonstrates that Nigeria’s population is not only growing but also advancing in technology. We are keen to collaborate with Nigerian companies, especially Dangote Refinery,” he said.
Emphasising that the refinery has bolstered Nigeria’s leading position in Africa, he further noted that the facility serves as an ideal introduction to the country for the global community.
Managing Director of Itochu Nigeria Limited, Masahiro Tsuno, also praised the sheer size and automation of the Dangote Refinery, calling it a miracle and one of the wonders of the world.
“I’ve seen many standalone refineries across the globe, including in Vietnam and the Middle East. However, this size of a refinery built by one single investor is probably a miracle in the world. And I’m just actually witnessing a miracle, to be honest, today,” he said. Tsuno indicated that his company would seek collaboration with the refinery across various sectors, including polypropylene and other petroleum products.
Commending the ambassador-designate and his team, which described the Dangote Petroleum Refinery as a wonder of modern technology, Vice President of Oil and Gas, Dangote Industries Limited, Devakumar Edwin, explained that the facility is the vision of a Nigerian investor- Aliko Dangote, designed and built by Nigerians, and intended to serve the global market.
He said that it is a point of pride that a Nigerian company not only designed but also built the world’s largest single-train refinery complex. Dangote Industries Limited, a Nigerian company, acted as the Engineering, Procurement, and Construction (EPC) contractor for the refinery. In the process, cutting-edge technologies from around the world were incorporated to ensure that the facility meets the highest standards. Edwin assured the ambassador-designate and the delegation that the company is open to collaboration, always striving to maintain the best possible standards.
“Even now, we have a lot of Japanese equipment inside both the refinery and the fertiliser plant. There are significant opportunities for collaboration, as we always seek the latest technology in any business we engage in. For instance, our cement plant laboratory is managed by robots, and we always embrace advanced technology. With Japan’s focus on technological innovation, there is ample scope for cooperation and for supplying various types of technology,” he said.
Edwin also stated that the Dangote Petrochemical project will significantly boost investment in downstream industries, creating substantial value, generating employment, increasing tax revenues, reducing foreign exchange outflows, and contributing to Nigeria’s Gross Domestic Product (GDP).
He confirmed that products from the refinery meet international standards and are already being exported globally.
“In recent weeks, we’ve exported petrol to Cameroon, Ghana, Angola, and South Africa among others. Diesel has gone all over the world, and jet fuel is being heavily exported to European markets. Our products are already making their mark internationally,” he said.
He further added that by leveraging Africa’s vast crude oil resources to produce refined products locally, the Dangote Group aims to create a virtuous cycle of industrial development, job creation, and economic prosperity.
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ICOBA 84-86 Set Donates N20m to Endowment
The Christmas/End of Year party of the Igbobi College Old Boys Association (ICOBA) was filled with excitement, pomp and pageantry as the 84-86 set celebrated its 40th anniversary of leaving the school.
The highlight of the event was the donation of N20 million from the set’s endowment to serve as a seed fund for the national body’s endowment through the National ICOBA. The donation was received by Mr Femi Banwo, President ICOBA International and Mr Kunle Elebute, Chairman ICOBA National Endowment Committee
The 84-86 set’s Board of Trustees Endowment Committee had established an independent endowment in 2009 with a vision to create a lasting legacy for the set. Speaking at the occasion, the Chairman of the ICOBA 84-86 Board of Trustees and Endowment Committee, Dr. Falil Ayo Abina, expressed his delight, stating that it was a dream come true.
Dr. Abina explained that one of the core lessons learned at Igbobi College was “self-denial.”
He reminisced about the Self-Denial Fund (SDF), where students were taught to contribute their weekly “widow’s mite” to share with the less privileged in society. Dr. Abina emphasized that when the endowment committee conceived the idea of the endowment 15 years ago, they had this legacy in mind, aiming to serve a purpose greater than self.
The donation of N20 million to the national endowment is expected to inspire others within the alumni and other school alumni associations to follow suit.
This generous donation is the first in ICOBA’s history and arguably in Nigeria and sub-Saharan Africa.
The 13-member endowment committee, also include Demola Ipaye, Fola Laguda, Gbenga Aina, Demola Oladeinde, Jimi Onanuga, Abayomi Alabi, Kwami Adadevoh, Bayo Ayoade, Tunde Sadare, Wole Ogunbajo, Tunji Akinwummi, and Lanre Olusola, worked tirelessly to make this vision a reality and it was indeed mission accomplished for the ‘Nobles Nigerians‘ as Igbobians are called.
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