Author: The Nation

  •  FCMB  unveils Airtime Advance

     FCMB unveils Airtime Advance

    First City Monument Bank (FCMB) has introduced a unique product, the FCMB Airtime Advance, to enable customers to borrow between N200 and N5,000 from their bank accounts to purchase airtime.

     The Airtime Advance solution aims to provide relief to customers who are in urgent need of airtime to make phone calls, send text messages or engage in other essential communication.

    Customers  without FastCash loans can access the Airtime Advance based on eligibility by dialling FCMB’s USSD code of *329# or via the loan string *329*11#.

    The loan has flexible repayment, and it is taken from funds in the customer’s account.

    Customers can also purchase Airtime Advance for family, friends, and associates.

    At the product launch in Lagos, Managing Director, FCMB, Mrs. Yemisi Edun, said the bank is “excited to take the lead as the first in the Nigerian banking industry to introduce an Airtime Advance product. We want to support as many people as we can. It gives a lot of joy to realise that we are helping individuals, households, and businesses across the nation meet critical needs.”

    Mrs. Edun reiterated the bank’s commitment to delivering value-added digital banking solutions and superior customer experience.

    Also, FCMB’s Divisional Head, Personal Banking, Shamsideen Fashola, said:  “The Airtime Advance is a product of necessity.The inability to purchase airtime, which limits communication or getting disconnected during a call due to insufficient airtime, can be embarrassing. Our Airtime Advance solution will eliminate this, enabling more Nigerians to connect by having access to money to top-up their lines.”

    Fashola noted that the bank’s array of retail banking products would continue to resonate with the market, lifestyle and needs of the people. He promised that the Bank would continue to leverage technology and innovation to offer a seamless customer experience at its touchpoints.

  • i-invest transactions hit $100m in five years

    i-invest transactions hit $100m in five years

    Nigeria’s digital platform for treasury bills, and financial services, i-invest, has recorded over $100 million transactions from customers.

     Its Chief Operating Officer,  Tobi Olusoga, stated this during the firm’s fifth anniversary in Lagos.

    She said the transactions came from investors in various parts of the country and world.

    The event, attended by Nairametrics founder, Ugochukwu Obi-Chukwu, also gave customers the opportunity to express gratitude to the company for its quality services and investment opportunities.

    Olusoga said i-Invest, a flagship product of Parthian Partners,  has over 130,000  customers subscribed to its platform.

    Olusoga stated: “Today, we have over 130,000 users on the platform and we have seen we see that number growing. We are seeing active activity day in and day out and the great thing is that obviously over the weekend over the holidays, we see activity and we only expect growth. Transaction value is over $100 million over the five years.”

    According to her, the investment community is optimistic with the new administration’s economic plans.

    “You know, we have had a lot of issues around policy flip flop, but I think generally there is some optimism that there might be some more stability, more opportunity.

    “One of the things that I ve been questioned on over the years is foreign equities, and what’s the stance on all of that? It hasn’t been clear, we haven’t ventured into that space, but we are optimistic that there will be clarity on policy and direction. 

    “Also, there is a new startup bill and we feel that the opportunities are great,” she said.

    Also, on Foreign Direct Investments (FDI), she added that the international investment community is waiting to see policy directions before they reverse capital flight.

    “People would want to see the stance of the new government, what are they standing for, what are the policies, is there going to be stability in the foreign exchange and I think that will basically direct the path. I think that there are indicators that suggest we should see an increase in terms of things like the removal of fuel subsidies.

     And if we are able to see stability in the exchange rate I think we will see much more inflows from FDI,” she further said.

    Furthermore, speaking on the 5th anniversary, she said: “Personally, it is like a great achievement because it was an idea that started five years ago, when we came into the market, digital platforms like this were not really common. Now today, there are a lot of them. But when we started, it wasn’t really commonplace for you to invest on an app, people still went to traditional banks.

    Obi-Chukwu made presentations that highlighted the key investment opportunities in the economy and risks that come with them.

    He educated participants of the benefits of investing in government securities, mortgage market, among others.

    The participants lauded i-Invest for the opportunity to lean and understand the markets better.

  • Elegbe, others for EY World Entrepreneur of the Year Award

    Elegbe, others for EY World Entrepreneur of the Year Award

    The Group Managing Director/Chief Executive Officer, Interswitch, Mitchell Elegbe,  is among the 48 entrepreneurs, representing 49 countries, vying for the EY World of Entrepreneur of the Year award.

    The yearly event, which  holds between  June 6- 9 in Monaco, features entrepreneurs from countries and territories around the world.

    EY recognises and celebrates global business leaders whose vision and innovation are transforming the business landscape though their inspiring entrepreneurial journey.

    Elegbe, winner of the  EY Entrepreneur of the Year award in West Africa, alongside other  winners will be inducted into the EY World Entrepreneur of the Year ‘Hall of Fame’ for their exceptional entrepreneurial achievements and vie for the award at the global level.

    Senior Partner and EY Entrepreneur of the Year Leader for West Africa, Ashish Bakhshi, said the global event serves as a veritable platform to inspire  successful entrepreneurs so they could share their incredible entrepreneurial stories.

    According to Ashish, these individuals are part of the larger collective, fuelling the world economy, bringing new business concepts and products to market, as well as creating jobs and wealth.

     “On behalf of EY West Africa, I want to wish Mitchell the very best of luck as he joins other top global entrepreneurs to compete for the world title. We, EY Partners and the entire staff in West Africa, are proud of his achievements in the business world not only in Nigeria but on the Africa Continent,” Ashish said.

    The first African to win the EY World Entrepreneur of the Year award was James Mwangi, the Group Managing Director/Chief Executive Officer of Equity Bank, Kenya.

    Other past winners were Hamdi Ulukaya, Founder and CEO of Chobani Inc (USA); Olivia Lum, Group CEO and President, Hyflux Limited (Singapore), Guy Laliberté, Founder and CEO, Cirque du Soleil (Canada), Narayana Murthy, Founder and Chairman of Infosys Technologies Limited (India) and Cho Tak Wong, Chairman, Fuyao Glass Industry Group (China).

  • Wema Bank employees donate to Lagos school

    Wema Bank employees donate to Lagos school

    Wema Bank has donated chairs and tables to Isale Eko Grammar School, Lagos.

    The donation was part of its  Corporate Social Investment (CSI) initiative, the “Salary for Love” campaign.

    During the campaign, the bank’s  staff members contributed their salaries, embodying the spirit of giving back and leaving a lasting impact on the lives of others.

    The bank’s Head of Credit Risk Management, Uchenna Obazeh, emphasised its belief in the transformative power of education. He commended the bank’s staff members for their  commitment to supporting education in the community.

    “Through the ‘Salary for Love’ initiative, our employees have showcased their exceptional devotion to shaping a brighter future through education. We are humbled to contribute to the growth and development of Isale Eko Grammar School, as we remain steadfast in our mission of corporate citizenship.”

     Also, Wema Bank gave scholarships two two pupils of the school.

    The Principal of Isale Eko Grammar School, Dr. Mukaila Olatoye, expressed their gratitude for the  gesture.

  • International shopping fair coming

    International shopping fair coming

    Economic activities in Lagos are projected to gain fresh momentum as it hosts an international shopping fair, with exhibitors drawn from around the world and different sectors expected to showcase  diverse products and services.

    At a briefing in Lagos, the organisers said the event, which will take place at Federal Palace Hotel and Casino, Victoria Island, from June 2 -12.

    The General Manager, Nizam Exhibitions Company, Ali Nizam, said: “This year, the fair shines a spotlight on the sale of captivating silver ornaments. The discerning shopper will discover a captivating collection of handcrafted jewelry, ranging from delicate necklaces and bracelets to intricately designed rings and earrings. Each piece tells a unique story, blending traditional techniques with contemporary aesthetics, and reflecting the cultural heritage of diverse regions.

    “The International Shopping Fair provides an opportunity to explore a world of elegance and style as exhibitors would showcase exquisite linen and embroidery.

    Apart from the fair, he added,  is the chance to engage with  exhibitors, who are experts. They would share their insights, inspirations, and craftsmanship techniques, thereby providing a unique opportunity to gain a deeper understanding and appreciation for their products.

    “We are, undoubtedly, excited to organise the International Shopping Fair in Lagos, especially as Nigeria experiences the dawn of a new administration,” said Nizam. He added:

     “Our goal is to empower people and businesses as the exhibition provides a perfect platform for accommodating a diverse range of products and services.Every participant will have a feeling of triumph for contributing to the advancement of society.”

  • AFC secures $625m syndicated loan with new lenders

    AFC secures $625m syndicated loan with new lenders

    To further diversify its debt profile, Africa Finance Corporation (AFC), the leading infrastructure solutions provider on the continent, has secured a $625 million syndicated loan with new lenders from the Middle East and Asia.

    Gulf Bank, National Bank of Ras Al-Khaimah, China CITIC Bank Corporation, Qatar National Bank, Doha Bank and Industrial Bank of Korea Limited joined the syndicate as first-time lenders to AFC, strengthening the corporation’s coalition of investors and global capital market access.

    This latest funding is a testament to the corporation’s  creditworthiness in a challenging macroeconomic environment of rising interest rates, tighter financial conditions, capital outflows, and a stronger  dollar.

    The transaction was upsized from an initial $500 million following an oversubscription of 61 per cent, reflective of the strong demand from investors.

    “Our ability to tap global financial markets despite challenging macroeconomic conditions continues unabated, demonstrating investor confidence in AFC’s strong credit risk profile and broadening global appeal,” said Banji Fehintola, the Senior Director and Treasurer of AFC.

    “The funds raised will support AFC in furthering its mission of fostering economic growth and rapid industrialisation across Africa, whilst ensuring optimal value addition for the continent’s vast resources,” he added.

    First Abu Dhabi Bank PJSC, FirstRand Bank Limited (London Branch), ICBC (London) Plc., Mashreqbank PSC (acted as agent), MUFG Bank, Ltd., Standard Chartered Bank, and SMBC Bank International Plc. acted as Mandated Lead Arrangers and Bookrunners on this three-year syndicated loan. 

    AFC’s footprint spans 40 member countries across Africa and a pipeline of projects that blend positive social and environmental impact with superior risk-adjusted returns.

    The corporation recorded an outstanding performance in its latest financial year, with total assets growing 23 per cent to US$10.5 billion and its realising its five-year growth target a year early.

    AFC also made over US$1.5 billion in net borrowings last year, expanding bilateral relationships in the international loan market to diversify its funding sources.

  • Nigeria tops consumer of cologne brand

    Nigeria tops consumer of cologne brand

    Nigeria is the highest consumer of Clive Christian all over the world, the Regional Director, Clive Christian, for Northern European, United Kingdom and Africa, Mr. Tate Torongo has said.

    He described its Nigerian consumers as special and having a more refined taste and great knowledge about perfumes.

    “Nigerian clients have always been our clients. When I look at every other place where we sell our products, whether it is in the US or the UK, one of our top consumers is Nigeria. Nigerians have been flying overseas for years and decades to come and buy our products so for me it is important to have the product unveiled here.

    Torongo spoke at the unveiling of the brand 1925-inspired newer release titled Town & Country which took place at the roof top of Providus Bank Head Office, Victoria Island.

    Clive Christian is one of the world’s luxurious perfume brands.

    The event was in collaboration with Clive Christian, Seinde Signature and Providus Bank.

    Torongo said the new cologne was inspired by the original recipe from 1925.

     ”It was a perfume that was worn by Winston Churchill and what we did was to look at the original recipe from 1925 and took inspiration from that to create Town and Country,” he said.

    He said its partnership with Seinde Signature, a one-stop shop for perfumes in Nigeria, was because of its expertise in the perfume industry.

    At the launch, the Managing Director/CEO, Seinde Signatures Experience Studio, Mr. Olufemi Olaseinde Olusola, said his perfume studio offers only 100% niche products which, “Clive Christian saw and it also aligned with their brand.”

    He said the company’s partnership with the Clive Christian brand and the launch of its new product in Nigeria was to further expand the niche market in Nigeria to compete at the global stage.

    According to him, “Clive Christian coming into the Nigerian space with their prestige all over the world further projects what we stand for as the best in the country.

    “Apart from validating the business, that we don’t do fake, and communicate directly with niche manufacturers, Clive Christian’s partnership further expands the Nigeria niche market.

    “This new product cost £400 and we sell in all our stores at the Naira equivalent. So even though they are not exclusive to us alone in Nigeria, they approached us for collaboration. And after several meetings in Italy and London, we finally made it happen.”

    He added that the partnership with Providus Bank is about customer acquisition. “Providus customers who use their cards in any of our stores get a specific discount, while they talk about us to their customers. So the partnership at both ends is all about customer acquisition. We get customers through them and they also get customers through us,” he said.  

  • ‘Nigeria is fastest growing digital market’

    ‘Nigeria is fastest growing digital market’

    The Managing Director Ad Dynamo by Aleph Nigeria, Mr. Tintin Imevbore has described Nigeria as one of the fastest growing digital markets in the world with over 100 million internet users.

    He said that Aleph’s entry into the market is to help bridge the gap between brands and consumers, and provide a platform for businesses to reach new audiences and grow their sales.

    He spoke in Lagos while unveiling the platform’s official entry into the Nigerian market. Aleph, is the world’s leading digital global enabler of digital advertising in emerging countries. 

    “We are excited to bring Aleph’s expertise and experience to Nigeria. We believe that there is a huge opportunity for digital advertising in this market, and we are committed to helping brands reach their target audiences and achieve their business goals,” Imevbore said.

    Aleph offers a comprehensive suite of digital advertising solutions, including media planning and buying, creative development, and measurement and analytics. The company has a team of experienced professionals who are experts in the Nigerian market. Aleph also works with a network of local partners to provide additional support to brands.

    “We are here to solve Digital Media Education in Nigeria and Africa at large with Digital Ad Expert, our proprietary and FREE digital media education platform,” said Michael Owatunde, Regional Marketing Manager. “Digital Ad Expert is educating and certifying the next generation of digital professionals across the globe, enabling more people to compete in the global digital ecosystem. Over 1000 Nigerians have already benefited from this program.”

    “Our platform welcomes newcomers into the industry by teaching the basics. It also keeps experienced advertisers on top of their game by helping them sharpen their skills. Compared to other MOOCs (Massive Open Online Courses) our methodology leads to 2x higher graduation rates, 50% less dropout rates, and 90% more engaged learners” said Stephen Newton, MD, Sub Saharan Africa on Digital Ad Expert.

    According to Partner and Global Chief Operating Officer Mr. Ignacio Vidaguren over the past 18 years, ‘we have built a global infrastructure that aggregates untapped advertising revenue from digitally developing economies.’ 

    “Our infrastructure acts as a bridge, widening access to and equalizing the global digital media ecosystem. Our comprehensive solutions and the value that we create for our partners and advertisers has given us a first-mover advantage that puts us light-years ahead of any global competitors. Our team is made up of people from all walks of life – with different stories, cultures, and aspirations. That means that we are constantly learning from each other and growing together” 

    Regional Meta Director in Meta Nigeria Mr. Stan Martins said: “Aleph has access to global platforms, and focuses on bringing these platforms to brands in Africa. We are Meta’s Authorised Reseller in Nigeria, providing strategic consultation and local solutions expertise.

    As a Meta ASP, we are here to help you choose the right advertising strategy for your business across Meta technologies, including Facebook, Messenger, Instagram and WhatsApp. We offer local, in-market support and consulting, and provide access to workshops and training in Nigeria to help you and your team learn new skills to get the most out of the platforms and your advertising budget.”

  • Agu excites guests with impressionistic works

    Agu excites guests with impressionistic works

    The painting of Arugungun festival by impressionistic artist Wilson Agu, ushered guests into the newly established Art Gallery at the local wing of the Murtala Muhammed Airport Two.

     The place was agog with artistic zest Agu’s exhibition berthed penultimate weekend and would run till the end of the month. The painting was one of the over 20 works of paintings and sculptures on display in diverse areas of life. The event, which was anchored by Nollywood actor Mofe Duncan, drew dignitaries from all spheres of business and art worlds.

    The exhibition was a major highlight at the official launch of the Art Gallery at MMA2 Bi-Courtney Aviation Services Limited (BASL) as part of activities marking its 16th anniversary.

    Speaking at the launch of the gallery, Bi-Courtney Aviation Services Limited (BASL), Dr. Wale Babalakin, said the company is committed to promoting such initiatives, the gallery was part of moves to up its game in the hospitality business. “People can relax, unwind and shop, even as they travel,”

    The philosophical appeal of Agu’s painting depicting Nigeria’s political trajectory excited guests. As Nigeria matches into a new republic, like “a prophet crying in the wildness”, his painting, entitled: “Contention for power”, warns the incoming government of the unseen forces that often militates against the better judgement of the political leadership in the country. The painting is both political as it is historic: it shows a representative of all the heads of states, using their caps. While the battle for survival by the caps is on, you’d see the electorates watching from a distance. “The Lion-like sprite on the ground depicts the demons confronting our leaders when they get to the throne; while the people standing by the side are the electorates.”

    He said: “We are not doing enough” whereas, there is potential to do better, but all hands must be on deck to change the present trend and narrative.”

    As an engineer, who delved into arts over 32 years ago, his works seem to reflect the influences he has had in the past.  When asked about the choice of his works, Agu stated: “the exhibition showcased his works are on leisure, commentaries on the society, as well as women, all bothering on arts forms and movements over time.”

    Also, a large number of his works had women motifs.

    On his keen interest in women, Agu declared that they (women) are a unique gender, saying that his interest was rooted in the significant roles they play in every society. According to him, “Most cultures appreciate women, it is, however, unfortunate that Africa was the least that accords due recognition to women.”

    According to Agu, who is the CEO of the gallery, the project is beyond the normal buying and selling of arts, or exposing people to the arts and updating the same, revealing that another component of the initiative was a section to profile celebrities – achievers, arts collectors, individually or through organisations.

    His words, “Airport is a peculiar facility meant to be the parlour of the country, a parlour of stage, just like you make your room and leave your parlour for the stranger. As a welcoming space, it ought to be a foremost projector of our culture. I commend BASL for its foresight in leading the pack to having a first-of-its-kind gallery at an airport. I thank the Bi-Courtney Chair, Dr. Babalakin, for approving the initiative and creating a space for its realisation.

    “The initiative, which began as a “discussion” was to create a platform where arts can lead, thrive and interact with the people. The place would promote the arts, tourism and is meant to have an interaction, creating a platform for young artists to interact with the art collectors; for the connoisseurs.”

    On his part, BASL’s Head of Corporate Communications, Oluwatosin Onalaja, said the company recognises the importance of the arts in travels and tourism and its contributions to the economy.

    The launch, which had gallery’s curator Anthonia Nze, was attended by artists, curators, art ambassadors, such as former Editor, The Guardian on Saturday, Jahman Anikulapo; award-winning travel journalist, Pelu Awofeso; academia, senior aviation and arts  correspondents, Principal Officers of Bi-Courtney, manager of MMA2 and staff.  

  • Gallery, Uniben honour Olowu, Erimona

    Gallery, Uniben honour Olowu, Erimona

    • By Oji Onoko

    The drumming was mid-tempo, songs enchanting and dance steps regal. Aptly tagged, “Iku’Edo,” the dance ensemble from the department of the Department of Theatre Arts, University of Benin, ably choreographed by Dr. Josephine Abbe brought the Benin cultural tradition into bold relief with an appreciative audience clapping intermittently in appreciation… 

    The event was the exhibition of the Sculptures of Princess Elizabeth Olowu and Chief Ellis Temile Erimona which featured 40 of their works mainly copies, organised by National Gallery of Art in collaboration with the Department of Fine and Applied Arts, University of Benin, Ekhuan campus. The exhibition opened on May 2, 2023 and runs till May 16 at the Drawing Studio of the Department. Among high profile guests present were the Oliha of Benin Kingdom, Chief Edionwe Oliha, Commander, Edo  State Command, National Drug Law Enforcement Agency (NDLEA), Buba Obadiah Wakawa, high-ranking scholars from the University of Benin, students and the public.    

    On what informed the choice of the artists for the exhibition, the Curator and Director, Curatorial Services department, NGA, Dr. Simon Ikpakronyi said: “Princess Elizabeth Olowu and Chief Ellis Temile Erimona are renowned sculptors. They were selected by virtue of their contributions to knowledge in the field of visual arts within the country and internationally. Interestingly, the artists blazed trails in different ways. Their art works not only celebrate the culture and tradition of Benin, but have streaks that endear them to other cultures within and outside the country. They are indeed true ambassadors of Benin Kingdom and the University of Benin.”

    On his part, the Director-General, National Gallery of Art, Ebeten William Ivara, explained that the artists whose art works are being showcased are products of the Department at one point, as students and later as lecturers.” adding: “This department is one of the highly respected Art Schools in Nigeria. I commend the lecturers, for continuing and indeed, scaling up the cherished tradition of nurturing students who have over the years contributed immensely to the growth and development of visual arts in the country and abroad.”

    It was praises galore for the exhibiting artists by the participants. Efemena Ononeme, professor of Sculpture and Art History, at the Department of Fine and Applied Arts, University of Benin said: “I will say the works are very impressive, very good and they are stimulus to the students who are here now learning the steps of becoming sculptors in their own right as well. These sculptors that are being exhibited, stand the test of time.”  To Prof. Frank Ugiomoh, “an exhibition like this which is part of critical re-history and art history, provides a forum for those who are still learning art even those who have become artists to continue to appreciate how their colleagues or artists before them managed concepts in form as art which is very important to those who are training as artists and those who practice art.”