Connect with us
nairametrics

Companies

FCMB produces more millionaires in first draws of ‘’Millionaire Promo Season 5’’

Published

on

Adam Nuhu - nairametrics

The first draws of First City Monument Bank’s (FCMB) latest bumper reward scheme, tagged,  ‘FCMB Millionaire Promo Season 5 ”, took place across Nigeria on May 23, 2018 with the emergence of additional four customers of the Bank as millionaires. In addition, 640 other customers won various exciting gifts, ranging from LED televisions, power generating sets, decoders, tablets, smart phones and other consolation prizes.

The winners emerged through electronic selection of qualified customers at a colourful ceremony held at the four regions and 25 zones that make up the financial institution’s footprint. In attendance were officials of the National Lottery Regulatory Commission, Consumer Protection Council, community leaders, thousands of customers of the financial institution and other dignitaries.

At the Lagos regional draw which took place at the Sanusi Fafunwa branch of the Bank in Victoria Island, Lagos, Mourence Oluwatoyin Ibitola emerged winner of N1million, while Mr. Murphy Onminyi won N1million at the Abuja/North regional draw held at Wuse Zone 4 in Abuja. In addition, Binabi Miller smiled home with N1million at the South-East/South-South draw held at Effurun town in Delta State, just as Mrs. Moriliat Ajerinola was rewarded with the same amount at the South-west regional draw that took place at Ojoo branch of FCMB in Ibadan, Oyo state.

One of the winners of N1million, Mrs. Moriliat Ajerinola, a teacher, commended FCMB.

According to her, ‘’I am on top of the world. This is a marvellous experience. To FCMB, thank you very much and God will continue to bless the Bank’’.

From left: Retail Cluster Head, South-west 1 Zone of First City Monument Bank (FCMB), Mr. Bamidele Ojo; Admin Officer, National Lottery Regulatory Commission, Miss. Christianah Jayeola; Regional Head, South-west of FCMB, Mr. Adelaja Adeleye; winner of N1million at the first draws of the FCMB Millionaire Promo Season 5 in the South-west Region, Mrs. Moriliat Ajerinola; Regional Service Head, Mr. Oyetola Oyewusi and Manager, Challenge Branch (Ibadan), Mr. Kamoru Omotosho, during the draw ceremony in Ibadan, Oyo State, on May 23, 2018.

From left: Manager, Challenge Branch (Ibadan) of First City Monument Bank (FCMB), Mr. Kamoru Omotosho; one of the winners of a television set at the first draws of the FCMB Millionaire Promo Season 5 in the South-west Region, Engr. Murtala Oseni; Regional Head, South-west of the Bank, Mr. Adelaja Adeleye and Regional Service Head, Mr. Oyetola Oyewusi, during the promo draw ceremony in Ibadan, Oyo State, on May 23, 2018.

GTBank 728 x 90

The ’’FCMB Millionaire Promo Season 5”, which commenced in March and will run till October 2018, is part of the various initiatives of the financial institution to reward customers for their loyalty and patronage during the year. It is targeted at all segments of the society and for existing as well as potential savings account customers. The eligible products or accounts for the promo include FCMB basic savings, kids account, Nairawise, e-savings and premium savings.

From left: An official of the National Youth Service Corps (NYSC), Mr. Ugorji Franklin; one of the winners at the first draws of the FCMB Millionaire Promo Season 5 in Abuja/North Region, Mr. Kolawole Gbeminiyi and Zonal Head, Wuse of the Bank, Mr. Baldwin Onuigbo, during the promo draw ceremony in Abuja on May 23, 2018.

Speaking on the latest draws of the promo, the Executive Director, Retail Banking of the Bank, Mr. Olu Akanmu, said, “we are delighted to produce another set of millionaires and winners of varuous gift items. We will continue to reward and enhance the experience of our customers through this promo and other offerings that will further empower and add value to them. All they need to do to be a winner in the promo is to keep on saving with FCMB”.

Deal book 300 x 250
GTBank 728 x 90

On how to participate in the ”FCMB Millionaire Promo Season 5’’, Mr. Akanmu, explained that all an existing or a new customer of the Bank needs to do is to increase his or her balance by N10,000.00 in any of the eligible savings account and maintain it for 30 days to qualify for the Zonal and Regional electronic selection of winners where the star prize of N1million and other fantastic prizes will be won.  Multiple savings of N10,000.00 will increase the probability of winning. To qualify for the grand finale draws in November 2018, where four customers will win N2million each, existing and new customers are to increase their balances up to N50,000.00 and maintain it for 30 days. Multiple savings of N50,000.00 will also increase the chances of winning.

The second draws of the promo will hold in July, the third in September and the grand finale is in November.

First City Monument Bank (FCMB) Limited is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.

Fidelity ads

NM Partners represent articles published in paid partnerships with corporate organisations. They include press releases, targeted content, and other forms of corporate communications on behalf of our Paid Partners.

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Companies

Dangote Cement to extend clinker export to other African countries 

Dangote is on course to sell more clinker across West Africa and commence shipment to Central Africa in H2 2020. 

Published

on

Dangote Cement Plc. appoints Ms. Berlina Moroole as non-Executive Director

The Management of Africa’s largest cement producer, Dangote Cement Plc (DCP), disclosed during a virtual event yesterday, that the cement producer is set to commence clinker export to other African countries within the next few weeks. 

The Acting Group CFO, Guillaume Moyen, made this known in his presentation at the joint virtual event with NSE, tagged “Facts Behind the Figures and Sustainability report’’ on Wednesday24th September, 2020. 

Backstory: In its half-year report, the Management of Dangote disclosed that on 12 June 2020, the maiden shipment of 27.8Kt of clinker from Nigeria to Senegal left the Apapa Export Terminal. 

READ: Dangote Cement’s N100 billion CP admitted on FMDQ Securities Exchange

The Management reiterated that the company is on course to sell more clinker across West Africa, and commence shipment to Central Africa in H2 2020. As it is in line with the Group’s vision of making West and Central Africa, cement and clinker independent, with Nigeria the main export hub. 

GTBank 728 x 90

The absence of limestone in much of West Africa, especially those in the coastal states, forces those countries to import bulk cement and clinker from Asia and Europe, and this is quite expensive. 

READ: BUA Cement Plc posts impressive unaudited H1, 2020 financial results

However, Dangote Cement plans an exporttoimport strategypositioning Nigeria as the main export hub of the continent, in a bid to serve West and Central Africa countries from Nigerian factories, making the region cement and clinker independent. 

Deal book 300 x 250
GTBank 728 x 90

This is consistent with the Group’s vision of cementing Africa’s economic independence, as this would lead to lower clinker cost for pan-African operations, due to the proximity of Nigeria to these countries, as clinker landing cost will be cheaper. 

READ: Nigerian billionaires lose billions amid COVID-19 pandemic

The Management emphasized that this is possible, as Nigeria can serve a potential market of 15 countries, with over 350 million people, given the county’s relative abundance of quality limestone, especially in key Southern regions. 

It is important to note that DCP’s clinker volume, according to figures contained in its H1 2020 results, has increased to 60Kt from 12kt in H1 2019, which translates to 400% increase. 

The benefits of DCP’s export strategy 

It is noteworthy that the innovative strategy of Dangote Cement Plc is expected to; 

  • Cement Africa’s economic independence, and contribute to the improvement of continental, regional, and intra-regional trade, as the company seeks to make regional and continental free trade agreement a reality. 
  • Ensure that the increase in production due to exports, leads to increase in capacity utilization in the Nigerian operation, and in turn, reduces fixed cost per tonnes 
  • Increase foreign revenue exchange for the Nigerian operation, and offset foreign exchange risks. 
  • Reduce clinker landing cost, by leveraging on the proximity of Nigeria to other African countries. 

Fidelity ads

Continue Reading

Companies

Fidelity Bank to raise N50 billion in bonds in Q4 to refinance existing debts

The new issue will be made to redeem the existing N30 billion bond which was issued at 16.48%.

Published

on

Fidelity Bank Plc ,CEO Nnamdi Okonkwo, Fidelity Bank Plc growth plan, SMEs funding

One of Nigeria’s second-tier commercial banks, Fidelity Bank Plc, has concluded plans to issue up to N50 billion ($131.3 million) in local bonds by the fourth quarter of 2020, in order to refinance existing debts as the yields drop.

The disclosure was made by the Chief Operations and Information Officer, Gbolahan Joshua, during an analyst call on Tuesday, September 8, 2020.

The crash of crude oil price globally, which was triggered by the novel coronavirus pandemic, has led to a decline in bond yields on the local debt market. This has made foreign investors to dump their local assets, leaving excess liquidity in the money market. This has also put a lot of pressure on the foreign exchange market as they look for dollars to repatriate their funds.

READ: Guinness Nigeria finding it hard to refinance its loans due to dollar scarcity

The Fidelity Bank top executive disclosed that the new issue will be made to redeem the existing N30 billion bond which was issued at 16.48%.

GTBank 728 x 90

The global economic situation has seen yields in the debt market drop from as high as 18% about 3 years ago to less than 5% for the one-year treasury bill.

READ: GTBank, Zenith Bank, UBA record losses, investors down by N12.2 billion

Fidelity Bank had revealed that it expected to see a 15% drop in profit this year when compared to 2019 result due to the coronavirus pandemic. Its profit after tax increased by 21.9% to N12 billion for the half-year 2020.

Deal book 300 x 250
GTBank 728 x 90

The second-tier bank also disclosed that its income declined in the second quarter due to a downward review of lending rates on loans as a result of the economic downturn.

Continue Reading

Companies

Heineken buys more units of Nigerian Breweries Plc

The Dutch firm has invested N276 million in NB since August, to increase its stake in the Brewer by 0.10%.

Published

on

Heineken scoops more Nigerian Breweries shares in insider disclosure

The major shareholder of the largest brewer in Nigeria, Heineken Brouwerijen B.V, has increased its stake in Nigerian Breweries, with the purchase of 233,110 additional units of Nigerian Breweries shares. This was disclosed by the company in a notification sent to the Nigerian Stock Exchange, which was seen by Nairametrics.

According to the notification, which was signed by the Company’s Secretary, Uaboi G. Agbebaku, the purchase was made on the bourse over two transactions on the 2nd and 3rd of September.

This disclosure is a regulatory requirement that must be reported to the Nigerian Stock Exchange, especially when a major shareholder or director of a publicly quoted company purchases shares in the company they own.

READ: GTBank revenue for H1, 2020 rises to N225.14 billion

The analysis of these transactions indicates that the purchase consideration for the 233,110 additional units of Nigeria Breweries shares at an average price of N39.94 is put at N9.3 million.

GTBank 728 x 90

This purchase and previous purchases further cement Heineken Brouwerijen B.V’s status as a major shareholder; the company has accumulated a total of 7,720,236 since 30th June.

READ: Vitafoam’s 2020 oncourse to make light–work of 2019

As of June 30th, when Nigerian Breweries released its Half-year financial results and reviewed its shareholding pattern, the company had exactly 7,996,902,051 outstanding shares, with Heineken Brouwerijen B.V being the majority shareholder with 3,019,363,804 units, which amount to 37.76% of the total shares of the company outstanding. 

Deal book 300 x 250
GTBank 728 x 90

Hence, with the current purchase of 233,110 additional units, and previous purchases in August and September 1, which amount to 7,487,126 units, Heineken’s ownership percentage of Nigeria Breweries is now put at 37.85%.

Insider transactions, both sales and purchases, are often an indication of how shareholders perceive a company’s valuation. It could also mean a possible capital raise or that the majority shareholders are strengthening their existing holdings.

READ: Heineken scoops more Nigerian Breweries shares in insider disclosure

In like manners, the purchase of the shares of Nigerian Breweries by Heineken and other majority shareholder has mopped up stray volumes on the bourse, and pushed the stock price higher by 29% or N9, from N31 it closed at on the 3rd of August to its current value of N40 with 38.2x earnings.

About the company

Nigerian breweries is the largest brewing company in Nigeria. It engages in the brewing and marketing of lager beer, stout and non-alcoholic malt drinks, and the bottling of the Schweppes range of soft drinks and Crush Orange. Its brands include Star, Gulder, Legend, Heineken, Maltina, Amstel Malta, Fayrouz, Climax, Goldberg, Malta Gold, and Life. These products are mainly sold in Nigeria and other neighbouring countries.

READ: Flour Mills and its diverse challenges

Fidelity ads

Key takes on NB’s financials

Nigerian Breweries was affected by the disruption in the global and domestic demand and supply chain, as profit after tax of the largest brewer dropped by as much as 58%, at the back of the adverse impact of the sharp contraction in economic activities.

The knock-on effect of the COVID-19 lockdown, which affected the trade segment of the business, affected the company sales and this triggered the 11% drop in revenue in the first half of the year.

Continue Reading
Advertisement
Advertisement
Advertisement
ikeja electric
Advertisement
Advertisement
Patricia
Advertisement
FCMB ads
Advertisement
IZIKJON
Advertisement
Fidelity ads
Advertisement
first bank
Advertisement
bitad
Advertisement
deals book
Advertisement
financial calculator
Advertisement
deals book
Advertisement
app
Advertisement