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Tag: FBNQuest

  • FBNQuest wins EMEA awards

    FBNQuest Merchant Bank, FBNQuest Asset Management and FBNQuest Securities, all members of the FBNHoldings Group, have emerged winners in several categories at the EMEA Finance 2018 Awards . They were named as the “Best Local Investment Bank”, “Best Asset Manager in Nigeria”, “Best Asset Manager, Pan-Africa” and “Best Broker in Nigeria”. The recognition affirms FBNQuest’s strong performance as a leading Investment Bank, Broker, and Asset Manager.

    FBNQuest Merchant Bank was awarded best investment bank for its leading role in key transactions across various sectors, such as Nigerian Breweries’ N11.08 billion Series 13-15 Commercial Papers; the FGN’s N00 bilionn Inaugural Sovereign Sukuk; Dufil Prima Foods’ N10 bIllion Series 1 Bond; the Divestment of Asset Management Corporation of Nigeria (AMCON’s) 100 per cent Shareholding in Keystone Bank Limited; and Notore Chemical Industries Plc’s Listing by Introduction on the Main Board of the Nigeria Stock Exchange, to name a few.

  • FBNQuest Wins Four African Banking Awards

    FBNQuest Merchant Bank, FBNQuest Asset Management and FBNQuest Securities, all members of the FBNHoldings Group, have emerged as winners in several categories at the EMEA Finance 2018 Awards as the firms were awarded “Best Local Investment Bank”, “Best Asset Manager in Nigeria”, “Best Asset Manager, Pan-Africa” and “Best Broker in Nigeria”.

    This recognition affirms FBNQuest’s strong performance as a leading Investment Bank, Broker, and Asset Manager.

    FBNQuest Merchant Bank was awarded best investment bank for its leading role in key transactions across various sectors, such as Nigerian Breweries’ N11.08 billion Series 13-15 Commercial Papers; the FGN’s ₦100bn Inaugural Sovereign Sukuk; Dufil Prima Foods’ ₦10bn Series 1 Bond; the Divestment of AMCON’s 100% Shareholding in Keystone Bank Limited; and Notore Chemical Industries Plc’s Listing by Introduction on the Main Board of the NSE, to name a few.

    FBNQuest Securities secured the Best Broker award for its dealings on the Nigerian Stock Exchange and Market Making activities, including acting as Lead Stockbroker on the Notore Chemical Industries transaction. The Brokerage business is consistently ranked among the top domestic stockbroking firms by value traded in Nigeria, and is also the leading Primary Market maker among the 10 licensed Primary Market Makers on the Nigerian Stock Exchange (NSE).

    FBNQuest Asset Management was recognized for the strong performance of its mutual funds over the last 12 months across all public funds and bespoke portfolios. The firm is ranked among the country’s top public Fund Managers by the Nigerian Securities and Exchange Commission (SEC).

    Commenting on the awards, Kayode Akinkugbe, MD/CEO of FBNQuest Merchant Bank said, “We are positioned to provide services to an expansive client base of retail, high net-worth and institutional customers. FBNQuest remains committed to consistently providing financial solutions that will enable our clients make a difference, and we are honored to be recognized once again as a reflection of the quality of support we give our clients.

    “We will continue to deliver our expertise in financing, advisory, trading and investing solutions, as well as our unique distribution and execution capabilities as a part of the FBN Holdings group.” he stated.

    FBNQuest Merchant Bank has maintained a consistently strong position in the investment banking subsector in Nigeria, with a rich pedigree in offering alternatives to traditional bank debt products and a reputation for the successful execution of several big-ticket capital market and commercial debt transactions. The Advisory and Debt Capital Markets teams have advised on several landmark domestic and cross-border transactions, successfully raising equity and debt from the public and private capital markets; while the Debt Solutions team has raised funds in excess of $10billion over the past five years and structured some of the largest local project finance transactions in the oil & gas sector.

    The four EMEA Finance awards add to a portfolio of prestigious awards won by FBNQuest Merchant Bank in 2018, which include awards such as the African Banker’s Deal of the Year for the FGN’s $300m Diaspora Bond and The Banker’s Deal of the Year-Africa: Islamic Finance for the FGN’s N100bn Inaugural Sovereign Sukuk.

  • Why banks should engage Audit Executives on cybersecurity decisions – Expert

    Directors and other top rank decision makers of financial and investment institutions have been urged to engage audit executives in the decision-making process on compliance with cybersecurity standards as a factor in business strategies.

    Audit Executives also been urged to take advantage of technological advancement to enhance cybersecurity resilience in their various financial institutions.

    These calls were made at the 40th Quarterly General Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), themed “Cybersecurity: The Role of Audit Executives”, recently in Lagos.

    Funke Feyisitan Ladimeji, Head of Technology and Services at FBNQuest Merchant Bank, who made the call in her keynote address explained that robust cyber threat programs have to be implemented across businesses to mitigate risks and audit executives must be engaged to make its implementation effective.

    Ladimeji explained note without revealing that businesses still make use of traditional approaches in cyber vulnerability assessments in Nigeria noting that it is difficult for security units within organisations to achieve complete ecosystem visibility across other functional units.

    However, with emerging technologies and the commoditisation of data, cybersecurity has become undeniably more sophisticated and clearly a top Board agenda, she said.

    An internal audit must be forward thinking, to be able to influence management implementation frameworks in line with the General Data Protection Regulation (GDPR) and future Central Bank of Nigeria’s guidelines.

    “Audit Executives should continually provide assurance and consultation services, as necessary, to ensure cybersecurity is driven and elevated to the desired maturity level.

    “Building and implementing cyber risk solutions that will protect businesses, spur confidence in digital banking in the country, and encourage other technological advancements in the sector is a matter importance,” she added.

    The quarterly meeting brought together the Chief Audit Executives of Banks in Nigeria, key industry players, and members of the press.

  • FBNQuest hosts audit executives in Lagos

    FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc has hosted the 40th Quarterly General Meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) in Lagos. The event, with theme “Cybersecurity: The Role of Audit Executives”, was opportunity to advise audit executives of banks in Nigeria to take advantage of technological advancement to enhance cybersecurity resilience in the country.

    In her keynote speech, Head of Technology and Services at FBNQuest Merchant Bank, Funke Feyisitan Ladimeji highlighted the important role of audit executives in influencing and facilitating organisational change by ensuring that robust cyber threat programs are implemented across businesses to mitigate risks.

    According to her, businesses still make use of traditional approaches in cyber vulnerability assessments and it is difficult for security units within organizations today to achieve complete ecosystem visibility across other functional units. However, with emerging technologies and the commoditisation of data, cybersecurity has become undeniably more sophisticated and clearly a top Board agenda.

    Mrs Feyisitan Ladimeji further stated, that audit executives must be part of the decision making process for organisations to ensure that compliance to cyber security standards are a key factor in business strategies.

  • FBNQuest Supports Noble Initiative on Cancer Awareness

    FBNQuest Merchant Bank, has continued with the culture of partnerships with reputable institutions to implement financial literacy programs, women empowerment initiatives, as well environmental and social projects as part of its Corporate Responsibility & Sustainability focus.

    This culture has therefore informed why the Merchant bank supported the 2018 NSE Corporate Challenge – a one-day race event aimed at raising funds towards the provision of free cancer treatment and screening facilities across Nigeria.

    The event was a one-day competitive 5-kilometer race aimed at creating awareness on early detection and fundraising for the cause.

    Proceeds from this year’s Corporate Challenge are planned to provide free cancer treatment and screening facilities across Nigeria with the purchase of Mobile Cancer Centres (MCCs).

    Speaking on the organisation’s Corporate Responsibility & Sustainability footprint, Lolade Sasore, Head Communications and Knowledge Engagement at FBNQuest Merchant Bank said,

    “We have consistently supported the NSE Corporate Challenge, which is commendably in its 5th year, as it remains a strong platform committed to addressing cancer as a critical health issue.

    We have been proud to partner with them and other worthy causes over the years, and will ensure that we continue to develop and seek new partnerships that will increase our impact and contribution to society as a responsible corporate citizen. ” she added.

    The NSE Corporate Challenge is an annual race which employees from organisations listed on the Nigerian Stock Exchange (NSE) as well as the capital market community are invited to participate.

    The Challenge is a CSR initiative of the NSE, which is aimed at promoting health & well-being in our operating community, while offering a platform for promoting teamwork and networking among industry players.

    In the financial literacy space, the organisation trained over 1,800 students at secondary school level on the importance of saving and investing by leveraging platforms such as the Global Money Week and World Savings Day in support of the Central Bank of Nigeria (CBN) financial literacy goals.

    Its activities also extend to female economic empowerment and capacity building seen in support for the Women in Management and Business (WIMBIZ) annual lectures and conferences, which facilitate strategic discourse and highlight growth opportunities for women in an ever-changing economic landscape.

    In support of education & skills development, the Bank recently partnered with the Teach First Nigeria (TFN) Training Institute, which recruits outstanding university graduates and young professionals of all academic disciplines to teach as full time teachers (Fellows) in underserved and low income schools.

    Through the program, Fellows will gain exposure to the realities of Nigeria’s education system, identify their role in building a wider movement for educational equity, and ultimately expand education and life opportunities for Nigeria’s most marginalised students.

  • FBNQuest to maximise returns on diaspora remittances

    Asset Management has said it will be raising the level of returns on Diaspora remittances flowing into Nigeria. Its Managing Director, Ike Onyia, said remittance flows into the countryare estimated to be $22 billion in 2017, the highest in the Sub-Saharan region and the fifth highest in the world.

    In a presentation titled: “Maximising Investment Returns for Diaspora Remittances’ during the Nigerians in Diaspora Global Development Conference in London, Onyia, explained that there are investment products available for the diaspora community that can deliver diversified investment opportunities in different sectors of the economy.

    These range across options such as mutual funds, fixed income, real estate, structured products and alternative investments. He further relayed the role the company plays in maximizing investment returns on diaspora remittance.

    Onyia stated that the Nigerian Money Market is a competitively high-yield market. “We have seen the return to a relatively hawkish tone with a focus on attracting and keeping Foreign Portfolio Investors (FPI) inflows. Additionally, the Bond Market is on a strong growth trajectory. The relatively high coupons on Nigerian bonds raise returns despite the volatility in the yield environment. There is therefore the need for a trusted advisor and credible partner with sound local expertise to help the Nigerian diaspora take advantage of opportunities in the homeland,” he said.

    For example, for investors looking for new ways to invest in the ever-changing economic environment, the FBN Nigeria Eurobond (USD) Fund could be an ideal choice, as it predominantly invests in USD denominated debt instruments issued by the Nigerian Government and Corporates. Unitholders receive returns in USD semi-annually, as income generated and capital appreciation are also dollar denominated. This means the Nigerian diaspora can invest their dollars directly in the fund, since income from the fund’s underlying securities provides attractive returns.

    Among the investment opportunities highlighted was the FBN Money Market fund, which may be used to maximize current income, preserve capital and maintain a high degree of liquidity. The focus of the fund is to invest in relatively safe instruments such as treasury bills, guaranteed commercial papers banker’s acceptance and bank tenured deposits to give investors maximized returns.

    As a member of the FBN Holdings group, one of the strongest and most dependable financial groups in Africa, FBNQuest Asset Management has recorded strong performance across the risk spectrum of Nigeria’s markets, ranging from high risk equities to medium risk bonds and low risk money market instruments. The company’s value proposition is hinged on active portfolio management, strong performance, scale advantages of pooling, and efficient access to the Nigerian financial markets.

  • FBNQuest highlights investment opportunities for Nigerians in diaspora

    FBNQuest Asset Management, a part of the FBN Holdings Plc group, has called on Nigerians in Diaspora to take advantage of the numerous investment opportunities available in Nigeria.

    This call was made at the just concluded Nigerians in Diaspora (NIDOA) Global Development Conference in London.

    FBNQuest Asset Management called on Nigerians in Diaspora to offer strategic expertise in their various endeavours to impact the country with knowledge and financial capacity, especially by way of investment.

    Speaking during the conference, Managing Director, FBNQuest Asset Management, Mr. Ike Onyia said “We want to partner with the Diaspora community through NIDO and its members. As a member of one of the leading financial services groups in Africa, we are well-positioned to serve the diaspora community professionally and to ensure their aspirations in the area of maximising investment returns are fulfilled”.

    Onyia further said, “FBNQuest Asset Management is open to partnerships that will unlock the potential of the Nigerian diaspora community as a source of economic development. We provide bespoke solutions to organizations and individual investors looking to set up structures that can help them achieve their investment goals. As a trusted advisor and credible partner with sound local knowledge and a rich pedigree, we will help them navigate through opportunities in the homeland’’.

    Read Also: FBNQuest opens Financial Resource Centre

    A major highlight of the event was the unveiling of the NIDO-led $20 Million Diaspora Housing Investment Fund – a closed end investment fund to be privately placed and constituted under a Trust Deed with a suitable Commercial Trustees to be selected. The fund will be established through the issuance of the similitude of a real estate investment trust scheme which will provide opportunities for individual and institutional investors to participate in the Nigerian real estate sector.

    FBNQuest Asset Management is a leading asset manager in Nigeria for individual and institutional investors, guiding clients through Africa’s dynamic markets, while identifying the best opportunities to shape portfolios in line with specific investment goals.

    The firm was recognised as the ‘Best Asset Manager in Nigeria’ in the prestigious Euromoney Private Banking and Wealth Management Survey 2017, which is the industry’s leading barometer of the world’s best service and product providers. The survey covers 15 different product and client categories and has ranking results in 70 countries, in which FBNQuest Asset Management emerged number one in Nigeria.

  • FBNQuest opens Financial Resource Centre

    FBNQuest Merchant Bank has delivered a financial resource center ‘Bloomberg Room’ at the Lagos Business School (LBS). The project is in line with the bank’s commitment to supporting educational establishments with strong business and finance faculties.

    The Bloomberg Room is where students can get quick access to research tools, financial market data, analysis of banks, and other economic data to facilitate effective learning at tertiary level. The initiative commenced in 2014 with two terminals in the LBS library, and due to demand was expanded to 12 terminals. This was also driven by the identified need to equip more students and the library community with tools for knowledge in finance and research.

    The delivery of the initiative aligns with the group’s Corporate Responsibility & Sustainability (CR&S) focus areas of knowledge & skills development and sustainable finance/investment.

    Speaking at the media event, Managing Director/CEO, FBNQuest Merchant Bank, Kayode Akinkugbe,  said, “We are conscious of the role technology plays in providing people with access to information. We believe it is important to equip students with the right financial tools and research, and we want to contribute meaningfully to that”.

    “We started the initiative five years ago, and this expansion is something we were keen to deliver because we know that the impact at this stage of learning can be profound. Through the resource center we also provide access to our thought-leading FBNQuest Capital Research, which we believe will serve as an additional resource for the students.” he added.

    Dean, Lagos Business School, Enase Okonedo,  highlighted the importance of the resource centre to students’ “It fits perfectly with the school’s effort to provide global standard teaching and knowledge sourcing facilities. The students’ experience is significantly enriched, and the benefit of added qualifications is a bonus. We are glad to have this partnership with the organisation, and the Bloomberg terminals have been impactful for the beneficiaries and the school in general.”

     

  • FBNQuest Merchant Bank recognised

    FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc, has received accolades from global financial and capital market awarding institutions in recognition of the impact and size of transactions it delivered in 2017.

    The firm has won five awards in various categories of the EMEAFinance Achievement Awards, including ‘Best Local Currency Bond House’ and ‘Best Social Development Bond’ for its role in Mixta Real Estate’s $4.5 billion Senior Guaranteed Fixed Rate Bonds; Most Innovative Naira Bond for the $300 million Inaugural SEC-Registered Diaspora Bond; ‘Best Mergers and Acquisition Deal’ for the Divestment of AMCON’s 100 per cent Shareholding in Keystone Bank; and ‘Best Naira Bond’ for its role as one of the financial advisers on the Federal Government of Nigeria’s N100b 7-year Inaugural Sovereign Sukuk.

    The bank was also recognized for the Federal Government of Nigeria’s Sukuk transaction by The Banker’s Deal of the Year Awards, receiving the ‘Deal of the Year – Africa’ award. The innovative transaction, which was a debut Sukuk issuance by the Federal Government, had no precedent to provide a benchmark and no explicit guidelines within the general regulatory framework. Nevertheless, through diligent structuring and positioning, the offer received a strong market reception and was oversubscribed, with PFAs, Banks and Asset/Fund Managers accounting for over 70 per cent. Proceeds from the issue are allocated to the construction and rehabilitation of 25 roads across the country.

    The bank was also recently awarded the ‘Best Investment Bank in Nigeria’ by Global Finance Magazine. Commenting on the achievements, Managing Director, Kayode Akinkugbe said “We are proud of these accomplishments and how we have been able to deliver impact by working with our partners.

  • FBNQuest predicts further naira devaluation

    FBNQuest predicts further naira devaluation

    Analysts at FBNQuest, a financial research firm own by First Bank of Nigeria (FBN) Holdings, have predicted the devaluation of the naira by the Central Bank of Nigeria (CBN) as the last resort to the ongoing economic crisis.

    A report by the firm sees devaluation of the naira as the last resort although the CBN has stiffened its defense of its exchange-rate policy. “We see devaluation under duress and a year-end interbank rate of N230,” the firm said yesterday.

    The firm also sees further monetary tightening ahead as the Monetary Policy Committee (MPC) responds in textbook manner to rising inflation. “We also see Federal Government of Nigeria (FGN) bond yields in the middle of the curve backing up towards the 14 per cent level in the weeks ahead. The budget deficit target requires consistently large sales of bonds at auction.

    On crude oil price, it said there is no rescue likely soon from the oil price. “The oil price has picked up from its recent floor in January and the budget assumption of $38/barrel has started to look conservative. That said, the global supply/demand balance for crude is set to remain out of control until late 2017. Inventory accumulation, data-driven China worries and an uncompromising Saudi stance militated against an earlier recovery. We see an end-2016 spot price for Bonny Light of $55/barrel,” it stated.

    It also predicted growth of 2.1 per cent year-on-year in December 2015 as the lowest in the revised series of national accounts. A combination of government spending, sector-specific reforms and a modest rise in oil revenues should deliver unexciting growth of 3.5 per cent in 2017.

    Also, analysts from Credit Suisse have cut Nigeria’s 2016 growth forecast to two per cent from 3.9 per cent. A “meaningful” economic turnaround is a long way off.