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FirstBank UK Stand Tall At 40, Appreciates Its Customers And Regulators

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FirstBank UK Stand Tall At 40, Appreciates Its Customers And Regulators

By Moninuola Sulaiman UK

FBNBank UK, a member of First Bank of Nigeria Limited and Subsidiaries had London, the United Kingdom painted blue as it celebrated its 40th anniversary, themed Partnership Beyond Borders, on Friday, 11 November 2022.  

The event which had customers, members of government functionaries and the diplomatic community, regulators, and captains of industries in attendance, was convened to appreciate the patronage and support the Bank had received since it opened its doors in the United Kingdom 40 years ago. As key stakeholders, they were instrumental in establishing the Bank as an important gateway to connect international markets in Africa, Europe, and the rest of the world to the finest financial services solutions that the UK has to offer.

FirstBank UK Stand Tall At 40, Appreciates Its Customers And Regulators
Left-Right: Dr. Adesola Adeduntan CEO, FirstBank, and Mr. Godwin Emefiele, Governor Central Bank of Nigeria (CBN) at the gala dinner celebrating FirstBank UK at 40 Years of Partnership Beyond Borders.
FirstBank UK Stand Tall At 40, Appreciates Its Customers And Regulators
FirstBank UK Stand Tall At 40, Appreciates Its Customers And Regulators

Guests at the event include Hon. Justice Olukayode Ariwoola GCON, Chief Justice of Nigeria; Oba Sen. Dr. Moshood Olalekan Ishola Balogun, Alliiwo II, Olubadan of Ibadan land; Ambassador Sarafa Tunji Isola, High Commissioner, Nigerian High Commission, UK; His Highness, Muhammadu Sanusi II, former Governor, Central Bank of Nigeria.

Other dignitaries that graced the occasion include Alhaji Umaru Abdul Mutallab, Nigerian businessman and former Chairman of FirstBank; Mohammed Indimi OFR, Chairman, Oriental Energy Resources.

Delivering his welcome address to the dignitaries and guests present, Sam Aiyere, Chief Executive Officer, FBN Bank UK Ltd said “since its establishment, our Bank has demonstrated an unmatched dexterity, serving as a gateway connecting international markets in Africa, Europe and the rest of the world to the finest financial services solution that the UK has to offer. Through its office in the UK and the Paris Branch, our Bank has continued to facilitate international trade between Africa and Europe while offering top-notch, world-class corporate, institutional, and private banking solutions to our esteemed customers.

We have recorded laudable achievement only because you stand solidly with us. Therefore, I dedicate the success of the past 40 years to all our stakeholders. Thank you for being the lever beneath our thrust”, he also added.

Appreciating the patronage and support extended to FBNBank UK, Dr. Adesola Adeduntan, CEO, FirstBank said “today we celebrate 40 years of unbroken business operations in the United Kingdom; 40 years of supporting and enabling dreams; 40 years of resilience and relevance; 40 years of trust, safety, and security; 40 years of long-term value to all stakeholders; and 40 years of partnerships beyond borders. I believe the future is bright for FBN Bank UK. With our beautiful outing tonight, our Group stands out, once again, as one big and happy family of many parts.

FirstBank UK Stand Tall At 40, Appreciates Its Customers And Regulators
Dr. Adesola Adeduntan
FirstBank UK Stand Tall At 40, Appreciates Its Customers And Regulators

In his speech, Godwin Emefiele, Governor, Central Bank of Nigeria highlighted that “FBNBank UK’s established presence in a leading global financial centre such as London ensures that FirstBank Group is well positioned to play an active role in the promotion of Africa as an investment destination, attract much-needed capital to the continent and facilitate trade with other parts of the world. The presence of FirstBank in other countries outside Nigeria shows that the span of its impact is continent-wide. As you are headquartered in the largest economy on the continent, you have a unique role in also facilitating capital flows into other African countries and assisting their economic growth and development.

In addition, in his goodwill message, President Muhammadu Buhari, GCFR, President and Commander-in-chief, Federal Republic of Nigeria said “FirstBank has profoundly demonstrated a high level of nationalism by keeping the Nigerian dream at the heart of its business through constant evolution to birth agile financial services solution to suit the demands of its customers both home and abroad. Also, perhaps more than any other institution in its class, FirstBank has supported the Government by providing human resources at various times to booster much required professional expertise in various sectors of our economy.”

FirstBank UK Stand Tall At 40, Appreciates Its Customers And Regulators

Established in the United Kingdom in 1982 as the London Branch of the First Bank of Nigeria Limited., FBNBank UK was initially established to service the UK banking requirements of Nigerian companies and FirstBank.

Later in November 2002, the Bank was incorporated in the UK as a registered and wholly-owned subsidiary of First Bank of Nigeria Limited with offices in the City of London and has then developed into a much broader business in the gateway to Europe and beyond for African banks, companies and high net worth individuals.

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Polaris Bank Promotes SMEs, Sponsors The Fashion Souk

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Valentine Season: Polaris Bank Excites Existing, Prospective Customers With Mouthwatering Rewards

…as The Fashion Souk holds December 3 and 4, 2022

Polaris Bank has reaffirmed its commitment to support the growth of Small and Medium Enterprises (SMEs) in Nigeria.

The Bank in a statement gave this assurance while disclosing plans to sponsor The Fashion Souk 7.0.

The statement further noted that 3 successful entrepreneurs who emerge winners in a business pitch at the event will go home with N1million, N500,000, and N250,000 for the overall winner, first runner-up, and second runner-up respectively.

The two-day event, which is organised in partnership with Nigeria’s foremost event management company, EVENTFUL Limited is scheduled to hold on Saturday 3rd and Sunday 4th of December 2022, at Harbour Point, Victoria Island, Lagos.

Speaking on behalf of Polaris Bank, the Group Head, Strategic Brand Management, Nduneche Ezurike, said that “Fashion and style enthusiasts can once again look forward to experiencing unparalleled fashion moments from Nigerian entrepreneurs.”

Mr. Ezurike noted that “As a SMEs-friendly Bank, it is always our delight to explore opportunities to grow Nigeria’s Small and Medium Enterprises. Polaris Bank’s lead sponsorship of the 7th edition of The Fashion Souk, underscores our acknowledgment of the SMEs as the catalyst for Nigerian’s economic growth.”

Continuing, he noted that “this year’s Fashion Souk is unique as it provides an opportunity for the yuletide holidaymakers with an unforgettable shopping experience as visitors will behold the creativity of the Nigerian entrepreneurs, especially in the beauty and fashion space.”

Mr. Ezurike further stated that Polaris Bank’s continued partnership with EVENTFUL Limited stimulates the entrepreneurial spirit of many Nigerians, especially the new-age innovators in the key sectors of the national economy. He commended Eventful Ltd for visibly showcasing the enterprise amongst Nigerians.

Commenting on the essence of the SOUK, Founder and Chairman of Eventful and Convener of the Fashion Souk, Yewande Zaccheaus, said: “Eventful Limited has been deliberate in using the platform of The Fashion Souk to create the much-needed road to market for budding fashion entrepreneurs whilst also expanding the target market of the more established designers. “We are proud to once again contribute to the growth of the nation’s economy,” she added.

More than 160 SMEs in Nigeria’s fashion industry, ranging from manufacturers to designers and retailers in clothing, kids’ fashion, textiles, jewelry, accessories, hats, bags, shoes, and lingerie, are billed to showcase their creativity and product lines at the Fashion Souk.

According to December 2021 industry report, the Sub-Saharan African fashion market is worth $31 billion, with Nigeria holding an expanding share of 15 percent.

In line with its SME focus, Polaris Bank has partnered with and supported businesses in critical sectors of the Nigerian economy, including health, education, manufacturing, agriculture, export, and others. The Bank has advanced credits and indeed, provided close to N70billions to Micro, Small, and Medium Enterprise (MSMEs) from January 2021 till date.

Following the Bank’s recent strides in supporting SMEs and MSMEs, the prestigious BusinessDay’s Banks and Other Financial Institutions (BAFI) Awards named Polaris Bank the MSME Bank of the Year 2022.

Polaris Bank, adjudged Digital Bank of the Year 2021 and 2022, is a future-determining Bank committed to delivering industry-defining products for individuals and businesses

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Union Bank Unveils Brand New Sonic Identity – The Sound Of Union

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Union Bank Unveils Brand New Sonic Identity – The Sound Of Union

By Moninuola Sulaiman

Union Bank of Nigeria launched a sonic identity tagged ‘The Sound of Union. At 105 years, the Bank is now leveraging the universality of music to engage with new and existing audiences through this unique sound identity.

The Bank tapped prolific and award-winning music producer Tee-Y Mix, to create a timeless sound and interpret it across multiple genres for today’s and tomorrow’s generations.

Speaking about The Sound of Union during the official Twitter Space unveiling, Ogochukwu Ekezie-Ekaidem, Chief Brand and Marketing Officer, at Union Bank, spoke about why the Bank is unveiling the sound identity at this time. She said: “Over the past couple of years, Union Bank has gone through significant evolution, and as a team, we are constantly thinking of ways to connect with our audiences – new and existing.

At 105 years, we are entering a new era of identity and the Sound of Union represents a milestone for us. We have produced a distinct tone and instrumental melody spanning five music genres drawing on our local culture to connect with audiences across different geographical zones. We believe we are the first Nigerian bank to create an identity using sound, and not just a one-off jingle or payoff. This launch underscores our commitment to providing the simplest and smartest solutions while offering the best experience for our customers.”

Union Bank Unveils Brand New Sonic Identity – The Sound Of Union

To launch the sound identity, Union Bank has partnered with Boomplay to release an EP that will include the melody’s five genres, making the EP available exclusively to Boomplay subscribers for a period before it is available on other platforms.

Also commenting during the Twitter Space, about the audio distribution partnership between Union Bank and Boomplay, James Afuwape, Marketing Manager at Boomplay said: “Boomplay is the largest and fastest-growing streaming platform in Africa, and we are passionate about building and sustaining the music culture and consumption in Africa. We do this by leveraging partnerships and collaborations and this one with Union Bank was one we couldn’t pass up on. The Sound of Union is a unique project, and we are honoured to use our platform to help amplify the sound.”

The Sound of Union EP is now streaming exclusively on Boomplay. Click here to listen

Know More About Union Bank Plc: Established in 1917 and listed on the Nigerian Stock Exchange in 1971 now Nigerian Exchange Limited (NGX), Union Bank of Nigeria Plc. is a household name and one of Nigeria’s long-standing and most respected financial institutions. The Bank is a trusted and recognizable brand, with an extensive network of over 300 branches across Nigeria.

The Bank currently offers a variety of banking services to both individual and corporate clients including current, savings, and deposit account services, funds transfer, foreign currency domiciliation, loans, overdrafts, equipment leasing, and trade finance. The Bank also offers its customers convenient electronic banking channels and products including Online Banking, Mobile Banking, Debit Cards, ATMs, and POS Systems.

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Stanbic IBTC Bank Nigeria PMI® – New Order Growth Hits Six-Month High In November

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By Moninuola Sulaiman

…Faster rises in output and new orders

…Inflationary pressures remain elevated

…Business confidence at a survey-record low

By Moninuola Sulaiman

Business conditions continued to improve markedly in the Nigerian private sector during November amid improving demand and higher customer numbers.

In turn, firms expanded their purchasing activity and employment. That said, business confidence dropped to the lowest since the survey began in January 2014. Meanwhile, inflationary pressures remained elevated, often reflecting currency weakness.

The headline figure derived from the survey is the Purchasing Managers’ Index™ (PMI®). Readings above 50.0 signal an improvement in business conditions in the previous month, while readings below 50.0 show a deterioration.

The headline PMI rose to 54.3 in November from 53.6 in October, pointing to a solid monthly improvement in business conditions in the Nigerian private sector. The health of the private sector has now strengthened in 29 successive months, with the latest improvement the most pronounced since April.

New business increased at the fastest pace in six months amid reports of stronger demand and higher customer numbers. Companies responded to rising demand by increasing their business activity accordingly. Output has now risen in each of the past five months.

Marked increases in activity were seen across each of the four broad sectors covered by the survey. New order growth also encouraged companies to expand their employment and purchasing activity midway through the final quarter of the year.

Staffing levels increased for the twenty-second month running and at the fastest pace since August. Meanwhile, the rate of growth in purchasing activity was the steepest in four months. Similarly, inventories also expanded at a marked pace.

Purchase costs rose at a sharper pace as the weakness of the Nigerian naira against the US dollar exacerbated rising raw material prices. Staff costs were also up, linked both to higher staffing levels and efforts to motivate workers by increasing wages.

The passing on of higher input costs to customers meant that output prices also increased markedly, with the rate of inflation quickening to a three-month high.

Despite the generally positive picture for output and new orders in November, business confidence continued to decline. Optimism dropped for the fourth successive month and was the lowest since the survey began in January 2014. Those firms that were confident in the year-ahead outlook for output mentioned business expansion plans and hopes for a further strengthening of demand.

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