Nigeria’s leading financial inclusion services provider, FirstBank, has unveiled enhanced palliative measures to help its customers and Nigerians through these times of the extended COVID-19 lockdown in some states.
Amongst these measures are; the introduction of special waivers on repayment fees on the Bank’s credit cards as well as up to 90-days moratorium on SME loans. The aim of these is to cushion the impact of the toll on employment and livelihoods.
It was announced in the course of the week that the Lagos State Government & Roducate e-learning initiative – sponsored by FirstBank – had kicked off. The initiative includes the government accredited curriculum for primary, secondary and tertiary schools designed to ensure children are adequately guided and engaged through their learning experience.
Upon the lockdown in March, the Bank had announced to move One Million children to e-learning which is implemented with a number of renowned organisations that have come on board from within and outside the continent. These partners include IBM, which is providing opportunities for the acquisition of digital skills including Coding, Artificial Intelligence and Data Science & Analytics which would promote opportunities to learn skills of the future. These measures are taken in identifying with the roles of children at securing the future of any country.
Reflecting on the words by Benjamin Franklin, thus ‘an investment in knowledge pays the best interest’ Dr. Adesola Adeduntan, CEO, FirstBank said “in keeping with who we are at FirstBank, our commitment to self-development and continuous improvement is never far from our thinking. As such we are encouraging all to consider and register for any of the excellent programmes being offered free by Ivy League schools and have curated a list of them covering topics such as management, personal development, and entrepreneurship which can be found on our website.
In addition, Dr. Adeduntan stated that “with these measures, we are delighted to support our customers because you all have empowered us to do so by choosing to Bank with us. This is indeed a time to double down efforts and explore opportunities to ease the impact of the extension on you.
Once again, we appreciate our customers for the giant strides achieved on our alternative channels, as we assure you of our commitment to continue to work tirelessly to provide essential banking services across these channels. The transaction volumes is a positive testimony to the resilience of our staff and your Bank to keep things going as COVID 19 will neither defeat nor slow us down. We remain fully persuaded that together we will overcome this too.”
“Our experience over 126 years tells us the solutions lie within us, more than ever as we uphold our promise to you to be here for you and put You First always,” he concluded.
First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading financial inclusion services provider in Nigeria for over 125 years.
With over 750 business locations and 44,000 Banking Agents spread across 99% of the 774 Local Government Areas in Nigeria, FirstBank provides a comprehensive range of retail and corporate financial services to serve its over 15 million customers. 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.
The Bank has been nimble at promoting digital payment in the country and has issued over 10million cards, the first bank to achieve such milestone in the country. FirstBank’s cashless transaction drive extends to having more than 8.5million people on its USSD banking service through the nationally renowned *894# banking service and over 3 million people on Firstmobile platform.
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.
#EndSARS: Sanwo-Olu gifts families of slain police officers N10 million each
Governor Sanwo-Olu has compensated the families of slain police officers with the sum of N10 million each.
The Executive Governor of Lagos State, Babajide Sanwo-Olu has brought respite to the families of police officers killed during the violence witnessed in the aftermath of the #EndSARS protests.
According to the disclosure on the Twitter page of the Lagos State Government, the families were handed a cheque of N10 million each and the children of the slain officers awarded scholarships by the government.
Governor @jidesanwoolu handing over a cheque of 10 million naira each to the families of police officers who lost their lives during the unrest that followed the EndSARS protest and awarding scholarship to their children. @followlsstf @ceolsstf @LagosPoliceng#LASG #SecureLagos pic.twitter.com/XdjPPRsRf7
— The Lagos State Govt (@followlasg) December 3, 2020
What they are saying: Commenting on the recent development, a tweet by the Lagos State Government read thus: “Governor @jidesanwoolu handing over a cheque of 10 million naira each to the families of police officers who lost their lives during the unrest that followed the EndSARS protest and awarding scholarship to their children.’’
Why this matters: The recent effort by the Governor is in fulfillment of the promise he had earlier made to compensate affected victims of the post-EndSARS protest which led to the loss of lives and valuable properties both in the state and the country at large.
The compensation will be viewed by serving officers as a motivation, aimed at promoting patriotism, loyalty, commitment and dedication to national service.
What you should know
How digital transformation will impact Nigeria’s projected $8.79 billion economic expansion
Businesses will need to invest in appropriately reskilling and upskilling the national workforce to create a better digital Nigeria.
The Nigerian economy is projected to grow by $8.79 billion in the next three years to 2023, driven largely by the ICT, agriculture, health, finance and insurance sectors, according to a new study by global training providers elev8 and the BusinessDay Research and Intelligence Unit (BRIU).
More than half of the projected growth will come from the ICT sector, as companies continue to create innovative products and services leveraging ICT and telecoms. To take advantage of this growth, however, businesses will need to invest in appropriately reskilling and upskilling the national workforce to create a better digital Nigeria.
The research comes off the back of the Covid-19 pandemic, which has laid bare the digital divide, with those businesses having invested sufficiently in their digital capabilities overtaking those firms who failed to do so.
However, this trend of digitally forward businesses outperforming their technology-inferior counterparts isn’t new, the study reveals. Analysis of the data, which went back as far as 1992, showed that the major companies outperforming others in Nigeria are those that spend more on upskilling, research and development, and technology acquisition.
Economic rewards await
In recognition of its benefits, Nigeria has made efforts in the past, and continues to make more efforts at digitalizing its economy. The progress made in Nigeria’s ICT sub sector has had a positive effect on its gross domestic product (GDP). Research shows that the sector’s contribution to GDP has risen from 7.70 percent in 2012 to 14.30 percent by Q2 2020.
Meanwhile, the Nigerian government’s National Digital Economy Policy and Strategy, launched in 2019, aims to improve digital literacy and skills to build out the country’s digital capabilities.
However, the digital infrastructure readiness in Nigeria is still far below the global average. For this to be upgraded, the current skill set of government employees working in this area will need to be updated. This should warrant the designing of training programs that will help the government raise the level of digital infrastructure in Nigeria in the shortest possible time and at affordable costs.
The high economic rewards from closing the digital skills gap should see this become an even greater priority. If the entire Nigerian economy is digitalized, the country could take a bigger bite of the global digital economy, which is estimated at $11.5 trillion.
Where digital leaders are made
Global training provider elev8 offers training programs focused on the latest technologies, and is uniquely placed to help businesses and the Nigerian government connect to opportunities as highlighted in the report.
Bringing together renowned industry experts, elev8 offers the flexibility of virtual classrooms or face-to-face programs, depending on what’s best for the organization and its learners.
Taking a holistic approach, power skills like communication, collaboration and analytical thinking are embedded into elev8’s technical training in order to develop well-rounded digital experts who can bring the most value to their employers.
Training methods are practical and action-based – built around projects, tackling real business challenges – enabling learners to put theory into practice from the day one.
No matter the technical need, elev8 can design and implement bespoke solutions tailored to a company’s individual requirements.
elev8’s global academy equips business leaders, teams and organizations with the skills they need to leverage the technologies of the future and transform Nigeria into a knowledge-based economy.
To read the report in full, or to discover more about the elev8 training academy, go to www.elev8me.com/en-us/africa.
Covid-19: WHO says the promise of vaccine is a game changer
The WHO has stated that the promise of Covid-19 vaccines is phenomenal and potentially game-changing.
The World Health Organization has said that the promise of Covid-19 vaccines is phenomenal and potentially game-changing.
This disclosure was made by the WHO’s Regional Director for Europe, Hans Kluge, during a press briefing at Copenhagen on Thursday, December 2, 2020, according to a report from Reuters.
Kluge said there are expectations that there would be limited supplies of Covid-19 vaccine supplies at the early stages and as such countries must decide who gets priority.
However, the WHO emphasized that there is a growing consensus among stakeholders that older people, medical workers, and people that share the virus with some other health conditions will be among the first recipients of the vaccine.
What you should know
It can be recalled that yesterday, UK regulator gave its approval to the Covid-19 vaccine, which was developed by Pfizer Inc in collaboration with BioNTech, moving ahead of the rest of the world, including the United States in the race to begin the most crucial mass inoculation programme in history.
- This follows the announcement by Pfizer that the vaccine proved 95% effective in a final analysis of clinical-trial data for its phase 3 study.
- In addition, Biotech firm, Moderna Inc, also announced that its Covid-19 experimental vaccine was 94.5% effective in a preliminary study.
- The United States and European Union regulators are sifting through the same Pfizer vaccine trial data, but are yet to give their approval.
- The WHO revealed on Wednesday it had received data from Pfizer and BioNTech on the vaccine and was reviewing it for possible listing for emergency use, a minimum condition for countries to authorize national use.