Connect with us
nairametrics
UBA ads

Business News

FirstBank restates commitment to children with special needs

First Bank of Nigeria Limited, Nigeria’s premier and leading financial institution, has reiterated its commitment to impact the lives of the less privileged and children living with disabilities across the country and in its host communities across the world.

Published

on

First Bank

First Bank of Nigeria Limited, Nigeria’s premier and leading financial institution, has reiterated its commitment to impact the lives of the less privileged and children living with disabilities across the country and in its host communities across the world.

The Chief Executive Officer of FirstBank, Dr. Adesola Adeduntan, made this pledge at the weekend (Saturday, 6 July) when he led a team of FirstBank volunteers on a visit to Wesley School for the Hearing Impaired, Surulere, Lagos in the spirit of the Bank’s commitment to encouraging people to Start Performing Acts of Random Kindness (SPARK). SPARK, a values-based initiative, is one of the key activities of the annual FirstBank’s Corporate Responsibility and Sustainability (CR&S) Week.

UBA ADS

[YOU MAY LIKE: FirstBank partners Azuri Technology to promote sustainable development in Nigeria]

Speaking to the pupils and teachers of the school, Adeduntan said the visit was aimed at demonstrating kindness, as it is one of FirstBank’s brand values that positively affects the quality of life. He said;

“it is our belief that if all of us can show acts of kindness to people around us, we will make the world we live in a much better place for everyone. Our decision to come here today is to show appreciation to management for shouldering the enormous responsibility of taking care of these children with special needs. This visit is also to assure the children who are schooling here that, as the popular saying goes, you will not walk alone.”

GTBank 728 x 90

Speaking further, Adedutan encouraged the pupils of the school to seize every opportunity availed them to reach their maximum heights possible, stressing that as an institution, FirstBank, woven into the fabric of the society will always be there to provide them the support they require within its available means and resources.

[READ THIS: NCC joins fight against State taxes after MTN and Kogi face-off]

Asides the visit to Wesley School, 23 other charity homes/institutes, including camps of Internally Displaced People (IDP) were visited by FirstBank staff volunteers, led by senior members of staff. The Bank’s Executive Director, Public Sector, Abdullahi Ibrahim with other volunteer staff visited the School of the blind, Jabi, Abuja while its Group Head, Corporate Banking, Remi Ajose- Adeogun visited the Down Syndrome Foundation of Nigeria, Fagba, Lagos.

Other locations visited by the Bank include Madinatu and Almiskin IDP Camp, Maiduguri, amongst others. Food supplies., provisions, toiletries and educational materials were delivered to all the visited homes.

The 2019 FirstBank’s CR&S Week was held from 1 – 6 July across Nigeria’s six geopolitical zones and the Bank’s business locations in Ghana, Gambia, Guinea, Senegal, Sierra Leone, DR Congo and The United Kingdom.  The CR&S Week is a social impact initiative the Bank started two years ago, with its staff dedicating a whole week to impact lives of individuals living in its host communities.

app

About FirstBank: First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading banking services solutions provider in Nigeria for 125 years. With some 15 million customer accounts, FirstBank provides a comprehensive range of retail and corporate financial services with over 750 business locations. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing.

Patricia

[READER FURTHER: FirstBank Convenes Fireside Chat, Promotes Awareness on Cyber Security]

Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.

FirstBank has been named “Most Valuable Bank Brand in Nigeria” six times in a row (2011 – 2016) by the globally renowned “The Banker Magazine” of the Financial Times Group; “Best Retail Bank in Nigeria” for seven consecutive years (2011 – 2017) by the Asian Banker International Excellence in Retail Financial Services Awards and “Best Bank in Nigeria” by Global Finance for 15 years. Our brand purpose is to always put customers, partners and stakeholders at the heart of our business, even as we standardise customer experience and excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision “To be the partner of first choice in building your future”. Our brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on our inherent values of passion, partnership and people, to position You First in every respect.

Signed by: Folake Ani-Mumuney

Group Head, Marketing & Corporate Communications

app

www.firstbanknigeria.com

Editor’s Note: This is a sponsored content.

[READ THIS: FirstBank Joins other Internal Auditors across Africa to Promote Risk Management Efficiency]

Nairametrics often allows the usage of its website for businesses wishing to send out important press releases, articles and other communication forms of their products, services, events, employees, and personalities. Some of these articles are paid for.

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.

Business News

Ecobank Transnational to hold AGM by proxies on June 30th

Due to the ravaging Coronavirus pandemic, ETI said the AGM will be held by proxies.

Published

on

Ecobank

Ecobank Transnational Incorporated (ETI) has announced the date and venue of its 32nd Annual General Meeting (AGM). According to a disclosure that was sent to the Nigerian Stock Exchange, the company’s AGM and an Extraordinary Meeting are scheduled to hold on June 30th, 2020, at Eko Hotels and Suites in Victoria Island, Lagos.

Due to the ravaging Coronavirus pandemic, ETI said the AGM will be held by proxies. The proxy AGM is expected to enable the Pan-African financial institution to abide by the directives issued by governments and agencies regarding COVID-19 and how to contain its spread.

UBA ADS

“As a responsible corporate citizen, ETI intends to strictly comply with this restriction in addition to other applicable health and safety measures. Accordingly, attendance at this year’s General Meetings shall be mainly by proxies in accordance with the Articles of Association of the Company and applicable law,” a statement by the company said.

To this end, shareholders have been advised to select any of the company’s top executives (including the Chairman, Emmanuel Ikazoboh, and the MD of Ecobank Nigeria, Patrick Akinwuntan) to represent and vote on their behalf during the AGM. Proxy forms may be downloaded from the company’s website, filled, and submitted in advance.

READ ALSO: NSE commemorates FBNQuest Merchant Bank’s N5 billion Bond Listing with Digital Closing Gong Ceremony

GTBank 728 x 90

Meanwhile, the issues that are up for discussion during the AGM and the Extra Ordinary meeting are enumerated below.

Annual General Meeting

1. Approval of the accounts
2. Appropriation of the Profits
3. Election of Directors
4. Ratification of the co-option of directors
5. Renewal of the appointment of the joint auditors
6. Approval of the Final Board Fees for Retiring Directors

Extraordinary General Meeting

1. Withdrawal of resolution on consolidation of shares
2. Amendment of the Articles

Deal book 300 x 250

Note that in Q1 2020, ETI reported profited after-tax from continuing operation of N66.4 billion, marking a 19% decline when compared to N81.9 billion during the comparable period in 2019.

ETI’s share price on the Nigerian Stock Exchange closed Friday’s trading session at N5.55. The company has a market capitalisation of about N137.3 billion according to information obtained from Bloomberg.

app

Patricia
Continue Reading

Business News

NNPC explains measures to cut cost of crude oil production

Ewubare stated that NNPC was looking very closely at such variables as logistics, security, and transportation with a view to reducing the cost of production to $10 per barrel or below. 

Published

on

NNPC, IJV model, JV

The Nigerian National Petroleum Corporation (NNPC) has said that it is taking some measures to bring down the cost of crude oil production to $10 per barrel or below. 

According to a press statement that was signed by NNPC’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, this was disclosed by the Corporation’s Chief Operating Officer (COO), Ventures and Business Development, Mr. Roland Ewubare, on a Channels TV breakfast programme on Friday, June 5, 2020. 

UBA ADS

Ewubare pointed out that the peculiarity of the terrain was an important factor in determining cost, with such issues as pipeline vandalism, crude oil theft, and some others being critical factors that are peculiar to the Nigerian terrain and would definitely drive up crude oil production cost in the country. 

READ ALSO: NNPC unveils COVID-19 contacts tracing app, marketers to buy petroleum products online

He, however, stated that NNPC was looking very closely at such variables as logistics, security, and transportation with a view to reducing cost of production to $10 per barrel or below. 

GTBank 728 x 90

He disclosed that much had been done over the years in the area of reducing contracting cycle which used to be a major factor responsible for high cost of production, stressing that the National Petroleum Investment Management Services (NAPIMS) achieved a six-month contracting cycle under him as Group General Manager. 

Mr. Ewubare denied reports that Nigeria is part of OPEC+ member countries that did not comply with the output cut that was agreed by the alliance 

Mr. Ewubare explained that though Nigeria’s total production capacity was 2.3million barrels per day, it was currently producing only about 1.4million barrels per day in compliance with the OPEC+ production quota, stressing that what makes up the little extra over the 1.4mbpd figure being bandied around for Nigeria was condensate which is usually not computed as part of production in OPEC quota.  

READ MORE: NNPC seeks Russian firms’ partnership to revamp oil refineries  

While making some clarification, Ewubare said, There’s some confusion in the market around the parameters for the production cuts. Nigeria has a full production capacity of about 2.3mbpd. We are currently producing between 1.6 and 1.7mbpd. Our OPEC quota as a result of the cuts is about 1.4mbpd. You and I know that condensate is not included in the computation of the cut numbers. So what we have is 1.4mbpd of crude oil. The little you see above 1.4mbpd is made up of condensate which does not count as part of the basis for assessing our OPEC quota”. 

app

NNPC Group Managing Director, Mallam Mele Kyari, in a recent interview, advanced a similar position where he stressed that NNPC was working assiduously to bring down the cost of crude oil production to not more than $10 per barrel by 2021.  

Patricia

Continue Reading

Business News

NNPC raises alarm over low grade, contaminated diesel in the market

This warning was contained in a report by the Managing Director, NNPC Retail Limited Managing Director, Dr. Billy Okoye, who also admonished motorists to be careful of the off-spec products. 

Published

on

The Nigerian National Petroleum Corporation (NNPC) has raised alarm over the circulation of low grade and contaminated AGO, popularly known as diesel, which is offered at discounted prices in some parts of the country. 

This was disclosed in a press release by the Group General Manager, Group Public Affairs Division, Dr Kennie Obateru, on Friday June 5, 2020. 

UBA ADS

This warning was contained in a report by the Managing Director, NNPC Retail Limited Managing Director, Dr. Billy Okoye, who also admonished motorists to be careful of the off-spec products. 

READ MORE: FG projects $2 billion annual revenue from Escravos Gas project

The state oil giant, in the press statement, said, “The Nigerian National Petroleum Corporation (NNPC) has raised an alarm over prevalent low grade and contaminated AGO, otherwise called diesel, offered at discounted prices in parts of the country.” 

GTBank 728 x 90

Dr. Okoye, stated that the warning became necessary because the low grade contaminated diesel is harmful to machines and the environment. He explained that NNPC Retail Ltd is a market leader and therefore considered it incumbent upon it to alert the general public on the circulation of these low grade products. 

While urging consumers of the product to patronize the oil firm’s service stations where the quality of their products was assured, Dr. Okoye gave assurances that NNPC Retail Limited dealt only in premium high-quality products in the interest of Nigerian motorists and users. 

READ MORE: Fitch revises national ratings of GTBank, Zenith bank

Deal book 300 x 250

Unlike the premium motor spirit otherwise known as petrol, which was operating a fixed price regime and had NNPC as the sole importer, the diesel products were deregulated and had other independent marketers apart from NNPC importing the products as well. 

The intense competition and unhealthy drive for profit, in addition to poor regulation, could have given rise to this.  

app

Patricia
Continue Reading