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FBNHoldings: Setting the tone for gender inclusiveness, balance in boardroom

In many parts of the world, including Nigeria, women often face the barriers of discrimination and persistent gender inequalities.

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FBNHoldings: Setting the tone for gender inclusiveness, balance in boardroom

In many parts of the world, including Nigeria, women often face the barriers of discrimination and persistent gender inequalities which deny them access to key positions in the corporate world as well as access to finance or the formal economy.

Women make up almost half of the world’s working-age population of nearly 5 billion people. But only about 50% of those women participate in the labour force, compared with 80% of men, according to a report by the International Monetary Fund (IMF).

The IMF’s research highlights how the uneven playing field between women and men imposes large costs on the global economy. Early IMF studies on the economic impact of gender gaps assumed that men and women were likely to be born with the same potential, but that disparities in access to education, health care, and finance and technology; legal rights; and social and cultural factors prevented women from realizing that potential.

Nearly 70 UK companies have been told to employ more women in senior roles. Domino’s Pizza, JD Sports and Greene King are among those that have called out by financial trade sector body The Investment Association and the Hampton-Alexander review, a diversity study backed by the government.

The number of women holding the most senior jobs in the boardrooms of Britain’s biggest companies has fallen, according to a report that criticises the lack of progress made by businesses in getting more women to the top.

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Analysis from Cranfield University, as part of its 20th FTSE Women on Boards Report, shows a sharp drop in the number of women occupying chief executive (CEO), chief financial officer (CFO) or other executive roles on FTSE 250 boards, and static numbers at FTSE 100 companies.

Women constitute almost half of the Nigerian’s population and its workforce. Yet the kind of work they do, the condition under which they work, and their access to opportunities for advancement at workplace differ from that of men. Women are often disadvantaged in access to employment opportunities and in conditions of work as compared to men. In addition, many women forgo or curtail employment because of family responsibilities. The removal of obstacles and inequalities faced by women is advantageous to an economy’s development. For example, the Beijing Declaration affirms a national commitment to the inalienable rights of women and girls and their empowerment and equal participation in all spheres of life including the economic domain.

Also, Goal 8, target 8.5 of the Sustainable Development Goals (SDG) is to achieve full and productive employment and decent work for all women and men (including for young people and persons with disabilities), as well as equal pay for work of equal value by 2030.

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According to a report by the National Bureau of Statistics (NBS) the percentage of men employed in the State Civil Service from 2014 to 2015 was higher than the percentage of women for both senior and junior positions.

The average percentage of women employed in the State Civil Service from 2010 to 2015 in each category (junior and senior) was 38.16 per cent, while it was 68.84 per cent for men.

Also, men dominated employment in federal MDAs while women on grade level 01 –17 plus Special grade level was 34.67, 35.08 and 32.79 per cent for 2015, 2016 and 2017 respectively.

In the financial services sector, the Central Bank of Nigeria (CBN) had in 2014 directed that 40 per cent of banks’ top management and 30 per cent of board directors should be women.

Reports revealed that that women constitute only 22.3 per cent of the total board appointments in Nigerian banks, while their counterparts make up 77.7 per cent since 2014.

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However, FBNHoldings, Nigeria’s leading financial holding company and parent company to FirstBank is no doubt exemplary at representing the change, thus demonstratively redefined the Women in Business trajectory with women occupying various leadership positions, positioning the financial group powerhouse as a leading institution at driving Gender Balance in the Boardroom.

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Leading the pack of women in the board across the group structure which comprises FirstBank and its subsidiaries, FBNQuest is Ibukun Awosika whom has been Chairman of FirstBank since 2016. Prior to being the Chairman, she was a Non-Executive Director. since 2016. The representation further cuts across the group entity of its parent company, FBNHoldings. Other companies across the group, FBNQuest and FBNInsurance are also not left out.

Otunba Debola Osibogun, Non-Executive Director, FBNHoldings; Cecilia Akintomide (OON), Independent Non-Executive Director, FBNHoldings; Oluwande Muoyo, Independent Non-Executive Director, FBNHoldings; Dr. Omobola Johnson, Non-Executive Director, FBNQuest Merchant Bank; Oyinkansade Adewale, Non-Executive/Independent Director, FBNQuest Merchant Bank.

Others are Kehinde Adenrele, Chairman, FBNInsurance, Folake Ani-Mumuney, Chairman, FBNInsurance Brokers; Ijeoma Agboti, Non-Executive Director, FBNQuest Capital; Funke Feyisitan Ladimeji, Non-Executive Director, FBNQuest Asset Management; Titi Adebiyi, Independent Director, FBN General Insurance and Margaret Dawes, Non-Executive Director, FBNInsurance.

With such an admirably notable representation, it is no surprise that only recently, Women Corporate Directors (WCD) – Nigerian Chapter – had FirstBank host its meeting, held on Thursday, 3 October 2019 with 60 female directors and leaders of various organisations across various industries in attendance. These women discussed pertinent corporate issues with a view to promote the continued influence of women in Business and the economy, also ensuring that the needed balance on the home front is bolstered. The keynote speaker is Osagie Okunbor, managing director SPDC & Country Chair, Shell Companies in Nigeria.”

FBNHoldings recognition of female impact in its business operations at management level no doubt sets the tone for other institutions across other industries to promote women inclusiveness in management, thereby instrumentally shaping gender balance in the business atmosphere, thus influencing ethical practices in a cultured way worthy of consistently reiterating the recognition of female at impacting the economy and National Income as a whole. This in no small measure transcends to the political space, the cornerstone of legislative impact in the economy and business activities as a whole.

Godwin Emefiele, governor of the CBN, said recently that the Apex bank had made remarkable progress in closing the gender gap in the Bank.

“It is heartening that today, women represent 29.0% of CBN staff and 29.0% of directors are women. Eight departmental directors and one Director General of WAMZ as against 26.0 per cent of staff and 25.0 percent of directors in 2014. Similarly, three out of 11 board members are women (27%)”, Emefiele said at the 2019 CBN Commemoration of the International Women’s Day (IWD) in March 2019.

 

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Geely Auto to invest 54 million dollars in the development of healthy cars

Geely’s leading track record will be taken to a new level with the development of an all-round “healthier car.”

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As Exclusive Partner of Geely Automotive in Nigeria, Mikano brings us great news of Geely Automotive innovative steps towards development of “healthy, intelligent vehicles” by earmarking 54 million Dollars of funding to it; as a furthering of the fight against Coronavirus.

The move not only adds a new dimension to Geely’s understanding of “passenger safety,” it also represents a new development direction for automobiles.

READ: Automotive Bill: Why FG may return it to National Assembly

The development of a “healthier car” differs from specialized medical vehicles in that Geely’s products are made for ordinary consumers. Cars with comprehensive virus protection not only require the capability to isolate harmful substances in the air, it also needs to quickly and effectively purify cabin air for occupants.

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Geely Auto’s global R&D and design networks based in Europe, USA and China will jointly move to develop and research new environmentally sustainable materials with anti-bacterial and anti-viral properties which can be used within air-conditioner systems and on frequently touched surfaces such as buttons and handles.

Geely Auto will make full use of its global R&D system and resources as well as cooperate with professional medical and scientific research institutions to set up special project teams to work on the new research.

READ: Cars45 CEO explains how to increase demand for Made in Nigeria cars

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An Conghui, President of Geely Holding Group and President and CEO of Geely Auto Group said “Epidemic prevention is a job that requires the long-term effort of wider society. As the most common mode of transportation, consumers spend a considerable amount time in their cars, akin to a “second home” Only by making healthier products can we meet consumer demand for better quality of life. Based on the automotive industry’s development direction built around electrified, connectivity, intelligence, and shared mobility, auto companies should commit to developing products that help protect the health of drivers and passengers. This will become one of Geely Auto key long-term development objectives.”

Earlier on January 28, Geely Holding Group joined hands with the Li Shufu Foundation to set up a special 30 million dollars fund in support of the new coronavirus prevention and control, with a focus on the mass purchasing of much needed medical supplies for China in the short term.

Geely’s leading track record will be taken to a new level with the development of an all-round “healthier car.” Geely’s move sets a new precedent in the development of safety technologies that goes beyond developing leading crash test results and moves into new dimensions of passenger safety.

Visit www.geely.ng to find out more about Geely Nigeria

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Stanbic IBTC introduces Super App; upgraded with exciting features to enable seamless transactions

Stanbic IBTC Holdings PLC has upgraded its mobile App by introducing exciting features to enable seamless transactions.

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The financial services industry is enjoying a phenomenal growth and Stanbic IBTC bank, certainly is not left behind in its effort to consistently guarantee a seamless digital experience. Everyday customers are exposed to innovative mobile technologies, this therefore places a higher expectation that Banking Apps will provide a fully rounded experience.

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has upgraded its mobile App by introducing exciting features to enable seamless transactions for its customers with additional cutting-edge capabilities to enhance the customer experience. The App, termed the “Super App” is a one-stop App that offers the opportunity to transact across core banking transactions, while also managing Mutual Funds, Pensions, Insurance and Stockbroking accounts. Customers have a unique opportunity to experience unified access to all of these products, all at once. The App delivers easier, faster, and more convenient all-round experience.

Banking without barriers

At its core, the App has “My Bank” Module.  This module of the Super App makes it possible to transfer funds to a single as well as multiple beneficiaries. You can also use My Bank on the Stanbic IBTC Super App to buy airtime, pay bills, make cardless withdrawals from an ATM, schedule payments and load a prepaid card. The special ‘Hide Account Balance’ feature on My Bank allows customers to hide their account balance, especially when in public or insecure environments. The Super App also offers quick log-in capability with facial and fingerprint biometric options and provides more self-service options such as unfreezing of account and password reset option. The integration of an automated voice banking service on the “Super App” allows customers to bank as quickly as they speak. Basic transactions can be performed by speaking directly to your mobile phone using the microphone icon on the top left corner of the App.

@Ease Wallet

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The Electronic wallet module is designed to meet the lifestyle needs of the informally served, under-banked and multi-banked using a unique combination of technology and agent network. With the @ease wallet, customers can send and receive money, purchase airtime, pay bills and withdraw cash through any of the agent networks. To ensure maximum security, the @easewallet is protected by a four-digit secret pin which is needed to log-in and authenticate all transactions on the App.

The Stockbroking module.

The Stanbic IBTC Stockbroking module gives direct access to the Nigerian Stock Market for its customers to trade independently. The days are gone when customers had to visit their stockbrokers and spend hours trying to attend to basic concerns about their investments in stocks and securities. This module also allows customers to check current stock prices; get stock market news; view, modify or cancel pending stock orders. Customers can also retrieve their stockbroking account information (trading account number, CSCS number, address, and more).

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The Pensions module – A richer tomorrow.

With the Pension module, customers can enjoy the benefits of making inquiries, signing-up for e-statements, viewing their Retirement Savings Account (RSA), Approved Existing Scheme (AES) and Voluntary Contribution (VC) balances. They can also request registration certificates and customize their log-in profiles.

The Insurance module.

Stanbic IBTC has also introduced Insurance Brokerage solutions as a new feature on the Super App. This functionality enables customers of Stanbic IBTC Insurance Brokers view the status of their insurance policies, view their transaction history, renew insurance policies, report claims and upload claims-related documents and pictures.

The Mutual Funds module allows customers invest to ensure overflowing streams of income. You can also use the ‘Mutual Funds Module’ to create a new mutual funds account, increase online redemption limit, buy additional mutual fund and move funds across your various mutual funds or to a new mutual fund. With the “Mutual Funds Module’, you can make Investments with a few taps.

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Indeed, the new Stanbic IBTC Mobile App is more than just the ordinary; It is a Super App.

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Everything you need to know about Crypto Trading

Trading cryptocurrencies has many benefits, but here is everything you may need to know.

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Trading cryptocurrency simply involves changing one cryptocurrency to another cryptocurrency or changing crypto to local money or Fiat. On the other hand, cryptocurrency trading also covers the buying and selling of any crypto or coins and exchanging to the fiat of one’s choice.

To trade crypto assets, the first thing you need to do is to ensure you have a wallet where you can keep any cryptocurrency you’ll be purchasing from any crypto exchange platform like Remitano, Coinbase, Binance, etc. The first stage of trading cryptocurrency is creating an account. The essence of creating an account is to show interest and also give you the platform to get your cryptocurrency wallet.

READ: Crypto exchanges with most valuable crypto-assets in the world 

What are the cryptocurrency exchange platforms?

These are platforms that allow the buying and selling of cryptocurrencies. There are centralized and decentralized platforms, but the bests are always decentralized. The decentralized platforms are controlled by multiple systems (meaning there is no single computer controlling it). These platforms allow you to buy and sell cryptocurrency and as well as store them in your wallet.

Read this article about decentralized cryptocurrency exchanges (DEX) to gain more insight into decentralized exchanges.

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Exchanges charge traders a fee for allowing you to trade cryptocurrencies. The average fee per trade is 0.1% of each trade executed on the platform. Billions of dollars worth of crypto assets are traded every day. Lucky traders and early adopters have made it big from trading cryptocurrencies, and it is now their full-time job.

From my experience, there are basically two types of cryptocurrency trading; short term trading and long term trading. Now let’s look at these types of trading.

Short term trading

This refers to buying cryptocurrency at a low price only to hold for a short time before selling at a marginal profit. Trading time can be between minutes to months.

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The idea is simple; you buy a coin because you think the price will increase in a short time and then sell it for a quick profit.

This guide on day trading will help you become an expert at short term trading.

Long term trading

Long term holding refers to the act of holding a particular crypto asset for a very long time, years to be precise. The word HODL which means Hold on For Dear Life originates from long term trading. The idea of long term trading is to hold crypto assets for a very long term regardless of the volatility with the hope that it will increase by a significant factor after years of holding.

Risks of trading cryptocurrencies

Fluctuations are the most significant problem that cryptocurrency traders face. Trading cryptocurrencies have many benefits, but before you trade, you must be aware of the risks involved in trading. Below are some of the cryptocurrency-related risks.

Cryptocurrency fluctuates: There is no fixed price over a fixed period for cryptocurrency. This means the worth of a cryptocurrency today can change tomorrow. The change can be slow or rapid, but it is quite unusual for cryptocurrency value to drop heavily. Most times, whenever it drops, it is always little, and there’s still a time when it will pump (cryptocurrency increases).

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READ: Fate of $2.3 billion worth of Bitcoins in Limbo

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Cryptocurrency is not regulated: The bank and government are not in control of these digital assets. However, people are paying more attention to it because of its usefulness and how it is becoming generally accepted across the globe.

Security risks: There can be cryptocurrency mistakes, and cryptocurrency can be hacked: Sometimes, avoiding obstacles as a result of technical failures might be difficult. Hackers can also hack into cryptocurrencies and toy with it.

The best way to avoid issues with cryptocurrency is to get as much information as possible before starting.

READ: How to buy and sell Bitcoins in Nigeria

There are quite a number of people that are concerned about the best trading platforms to use for their transactions. There is no need to worry about that.

This article will highlight some of the top and best cryptocurrency exchange platforms you can use for trading. There are a lot of other platforms out there, and finding the best should be the aim. Below is a streamlined list of five cryptocurrency trading platforms that are safe and trusted.

READ: Bitcoin could reach $225,000 by 2021

 Remitano

This is the most recommended trading platform for both beginners and experts. The platform is a P2P escrowed marketplace that makes buying and selling of cryptocurrency and trading to local currency easier and faster. You are connected with buyers or sellers (depending on what you want to do), and the transaction goes on safely.

source: Remitano.com

 

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READ: Big mistake: Ripple’s CTO sold his Bitcoin for $750

Coinbase

Coinbase is one of the best platforms for trading. It is highly secured and easy to use for trading leading cryptocurrencies like Bitcoin, Ethereum, and others. Coinbase has APIs that allow developers to link with third-party apps and trading platforms. Coinbase is on this list because it is easy to use, highly secure, and fees are low.

Source: Coinbase.com

 

Kraken

Kraken is on the list because it is an old and consistent cryptocurrency platform that allows funding from diverse options. This platform is super cool for beginners because it makes the onboarding process easier.

Source: Kraken.com

 

Bitfinex

BItfinex is a good platform for all trading necessities. If you are already learned and good with trading, you will find this cryptocurrency exchange valuable. Beginners might find the interface complicated, but it supports different cryptocurrencies.

Source: Bitfinex.com

 

CEX.IO

This is a reliable platform for multiple cryptocurrencies. You can also make deposits from your local bank (credit card or any other option that suits you). The multiple payment option and high security, state compliance with regulatory organizations are top reasons why you should consider the platform. You can also track your investments with their developed reports.

Source: Cex.io

 

What makes cryptocurrencies ideal for trading

 The primary reason why cryptocurrencies are ideal for trading is because of the fluctuations. There are cases where you’ll have more profits due to the price when you bought the cryptocurrency, and you experienced an increase in the long run (that means you’re making a profit). Also, the opportunity to buy cryptocurrencies when they’re cheaper or at the prices that are convenient for you and sell off when you realized they’ve increased in value makes cryptocurrency ideal for trading.

It is an undisputed fact that the income coming from crypto trading might not be as huge as you might have envisaged, however, the more the value of the cryptocurrency you’re holding or trading, and the longer you hold your cryptocurrency, the more your chances of cashing out big.

The price is influenced by the economic factor of demand and supply. This is what the cryptocurrency traders use in balancing their portfolio. Cryptocurrency is just a different and unique investment form or opportunity.

Now that you understand everything about crypto trading, you can learn how to begin cryptocurrency trading in 2020.

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