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  • ALAT by Wema named Africa’s Best Digital Bank

    ALAT, the digital bank powered by Wema Bank, has been named the ‘Best Mobile Banking App’ and ‘Best Digital Bank for 2017’ in this year’s World Finance Digital Banking Awards.

    The World Finance Digital Banking Awards, celebrate organisations that lead the way with digitalisation, while meeting consumer demands and mitigating against accompanying risks along the way.

    The recognition by World Finance, is the latest in the series of awards that have greeted the arrival of ALAT into the African banking space. Last year, ALAT was named the Digital Banking Platform of the year by Business Day. The bank also won an award for Excellence in Branchless Banking in the New Age Banking Awards, and was nominated as the best innovative digital solution in Nigeria by the World Summit Awards.

    Global Finance will confer the Best Mobile Banking App and Best Digital Bank awards on the sidelines of the World Economic Forum Africa (WEFA) 2018.

    Commenting on the awards, the Managing Director/CEO of Wema Bank, Segun Oloketuyi said: “We are delighted to earn such a global recognition so early in the existence of ALAT. To us, they are not merely a reward for the hard work but also an incontrovertible evidence of Wema Bank’s new place as a leader in banking innovation in Africa.”

    He noted that as a forward-thinking bank, Wema has and will always remain committed to leveraging technology in delivering superior value to all stakeholders. “We have developed in-house capacity and capabilities to enable us provide best-in-class digital banking services across all touch points.”

    He also highlighted the ingenuity and resourcefulness of Nigerians, noting that ALAT was completely developed locally. “ALAT was conceived and developed by Nigerians, but today the world has accepted it and we are starting to enjoy international recognition,” Oloketuyi added.

    “ALAT is not just a Bank, it’s a lifestyle,” said Funmilayo Falola, head of Brand and Marketing Communications at Wema Bank. “It is a bank created to help customers achieve their personal and financial goals, in line with Wema Bank’s vision to be the financial institution of choice in service delivery and superior returns.”

  • Diamond Bank named WEF adviser

    Diamond Bank Plc has announced its appointment as a forum member adviser to the World Economic Forum (WEF). The forum aims to shape global, regional and industry agenda to deliver WEF’s mission of improving the state of the world.

    Diamond is the first Nigerian company and only the second African company to become a World Economic Forum Adviser. Membership is on invitation basis and is extended only to the most dynamic businesses that are using tech-driven innovation to drive growth.

    The bank’s Managing Director/CEO, Uzoma Dozie, will also attend the WEF Annual Meeting in Davos to discuss a number of key themes, including: promoting financial inclusion, particularly among women; Nigeria’s emerging technology-enabled entrepreneurial culture and Lagos as a hub for innovation and the role of digital, technology and data in transforming banking.

    Dozie is scheduled to speak on a panel at an interactive workshop session entitled: “A shared vision for Financial Inclusion at the Congress Centre, Jakobshorn.

    Commenting on the appointment and his attendance at the World Economic Forum’s Annual Meeting, Dozie said: “I am delighted that Diamond Bank was invited to join as a Forum Member Adviser of the World Economic Forum, as it is testament to our status as one of Nigeria’s leading innovators. I am also thrilled to be attending this year’s Annual Meeting in Davos, where I will be presenting my views on the three key areas of financial inclusion, Nigeria’s positive outlook and the future of banking.

    “In particular, I will be sharing Diamond Bank’s experience in the financial inclusion space where our Beta Proposition and Diamond Yello Account have made significant inroads in bringing previously un (under) banked people into the financial system. It will also be an opportunity to highlight the transformative role of technology and data in enhancing financial inclusion in a country of 180 million people where nearly half do not have a bank account.

    “I will also be passionately championing the success of increasing numbers of technology-enabled entrepreneurs and the culture of innovation that is taking hold in Nigeria, particularly Lagos. This innovation is leading to a new wave of business leaders that are shaping the Nigeria of tomorrow, as well as helping fuel economic growth today.

    “Despite historic challenges, I will also use the World Economic Forum Annual Meeting as a platform to promote Nigeria’s excellent fundamentals and its recent progress.”

    As a pioneer in the banking sector and beyond, Diamond is an industry leader in promoting financial inclusion, supporting entrepreneurs and digital transformation. Key initiatives include Building Entrepreneurs Today (BET),  a capacity building and business education initiative, designed to empower entrepreneurs, and Diamond Woman, a dedicated lifestyle proposition for women of all ages.

  • FirstBank named best banking brand

    FirstBank named best banking brand

    For the fourth consecutive year, First Bank of Nigeria has been ranked number one banking brand in Nigeria by The Banker magazine of Financial Times and Brand Finance, London, United Kingdom in their annual 2015 The Top 500 Banking Brands.

    The Country Representative of The Banker magazine – Nigeria, Mr. Kunle Ogedengbe said First Bank moves from being number 382 in 2014 to 336 this year. Other Nigerian banks that made the ranking moved up.

    They are Zenith Bank, Guaranty Trust Bank and Access Bank. Zenith Bank moves to number 388 from 453 in 2014, Guaranty Trust Bank moves to 417 from 422 while Access Bank made first entry into the ranking.

    Brand value of First Bank increases to $300 million in 2015 from $228 in 2014 and according to the Economics editor of the magazine, Silvia Pavoni, the brand value is “the licensing rate that a third-party would need to pay to use that company’s brand.”

    Pavoni said Brand Finance obtained brand-specific financial and revenue data;  modeled the market to identify market demand and the position of individual banks in the context of all other market competitors; established the royalty rate for each bank; calculated the discount rate specific to each bank, taking account of its size, geographical presence, reputation, gearing and brand rating and discounted future royalty stream (explicit forecast and perpetuity periods) to a net present value  which is the brand value.

    This approach, the Economics editor noted “is used for two reasons: it is favoured by tax authorities and the courts because it calculates brand values by reference to documented third-party transactions and it can be done based on publicly available financial information.”

    Globally, Wells Fargo of the United States of America retains the number one banking brand in the world for the third consecutive year and was followed by banks in China, United Kingdom and Spain in the first ten. Wells Fargo’s brand value for 2015 is $34.9 billion as against $30.2 billion in 2014, an increase of $4.7 billion.

    The first ten banks in the world are Well Fargo (USA); ICBC (China); HSBC (UK); China Construction Bank; Citibank, Bank of America, Chase (USA); Agricultural Bank of China; Bank of China; and Santander (Spain).

  • Sarah Alade named AFC’s chair

    Sarah Alade named AFC’s chair

    The Board of the Africa Finance Corporation (AFC) elected yesterday Dr. Sarah Alade as chairman of the Board of Directors.

    The lender also named Lamido Yuguda as a Director. Alade is the Deputy Governor (Economic Policy) of the Central Bank of Nigeria (CBN). Yuguda is Director of Reserves Management at the apex bank.

    Also, the AFC has over the last six years, financed investments of approximately $1.9 billion across the continent, with a current portfolio of 26 projects.

    The appointment is part of AFC’s Board succession process which also saw the exit of Adebayo Ogunlesi and Aliyu Dikko.

    Other members of the board are, Andrew Alli, President and Chief Executive Officer; Solomon Asamoah, Deputy Chief Executive Officer and Chief Investment Officer; Dr Adesegun A. Akin-Olugbade, Executive Director and General Counsel.

    Among the directors named yesterday, are the former Group Managing Director of Access Bank Plc, Aigboje Aig-Imoukhuede,  Jibril Aku,  Mr Tony Elumelu,  Mr Emeka Emuwa, Mr Tunde Lemo, Mr Olabisi Onasanya and Mr Ebenezer Onyeagwu. Others are Mr Lewis Tung, Director; Mr Robert Tung, Director and Mr Lamido Yuguda, Director.

    Commenting on the changes, AFC President and Chief Executive Officer, Andrew Alli said: “On behalf of the Board, I would like to offer my warmest thanks to our out-going Chairman and to Mr Aliyu Dikko for their service. Mr Ogunlesi has served with distinction for the last five years. He has provided invaluable guidance and support as we have built the corporation into one of Africa’s leading multilateral finance institutions.

    Under his leadership, we have demonstrated the commercial viability of African infrastructure as an asset class, delivering consistent annual profitability, while funding several projects over the last 5 years.  His tenure culminated in the award of an A3 (long term) /P2 (short term) foreign currency debt rating, making the AFC the second highest investment grade rated multilateral financial institution on the African continent.”

    “I would also like to welcome Alade and  Yuguda to the Board. Dr Alade takes up the role of Chairperson at a very exciting time for AFC. Having proven the commercial viability of infrastructure as an asset class in Africa, and with the strength provided by an international class credit rating, we are very strongly positioned to grow our balance sheet and deepen our ability to support the expansion of Africa’s infrastructure under her leadership.”

    The outgoing Chairman, Ogunlesi said: “I am pleased to have had the opportunity over the past several years to serve as Chairman of the AFC during which time the Corporation has continued to make good on its goal of becoming a market leader in infrastructure financing in Africa.  The vision of establishing an African-led, commercially oriented multi-lateral institution was always an ambitious one, but one which is well on its way to being been fulfilled. I am grateful to my former colleagues on the Board for their support and wish them, the new Chairperson and the AFC Team well as the Corporation enters a new phase in its growth.”

    Incoming Chairperson, Alade said: “I am privileged to take up the Chairmanship of the AFC at a significant time for the Corporation. With a strong and growing balance sheet, an expanding geographically diverse base and a deep pipeline of new investment opportunities, the corporation is very well placed to continue to deliver on its mission to foster the economic growth and industrial development of African countries.”

     

  • Amuneke named Eaglets’ coach

    Amuneke named Eaglets’ coach

    The Nigeria Football Federation (NFF) has confirmed the appointment of former international winger and former assistant coach of the U17 side, Emmanuel Amuneke as the new coach of the Golden Eaglets.

    “We have opted for continuity because these coaches are highly experienced and qualified to continue with the progress we are making” NFF’s head of technical department Emmanuel Ikpeme told BBC Sport.

    “We’ve had a couple of disappointing experiences in the past and it was felt that we couldn’t take the same route again.

    “Amuneke has transformed from a great player to one of the finest youth coaches in Africa and we believe he deserves his under-17 role as well,” he further added.

  • FirstBank, GTBank, Zenith named best banking brands

    First Bank of Nigeria Limited, for the third consecutive year, has been ranked as Nigeria’s number one banking brand in the 2014 The Top 500 Banking Brands Ranking of the world just released by The Banker Magazine, Financial Times Group in its February edition and Brand Finance in the United Kingdom.

    The Country Representative – Nigeria, The Banker, Mr. Kunle Ogedengbe, said in a statement that FirstBank was also ranked number one banking brand in 2012 and 2013, came top amongst the Nigerian banks and was joined in the ranking in second and third by Guaranty Trust Bank and Zenith Bank respectively.

    First Bank is ranked 382 in the world from 414 last year. The brand value of the bank also increased to $228 million from $201 million from the preceding year. Guaranty Trust Bank ranked 422 from 415 while Zenith Bank is ranked 453 from 454 last year. Apart from the three banks, no other Nigerian bank made the ranking.

    Brand Finance is the world’s leading brand valuation consultancy which advises branded organisations on how to maximize their value through the effective management of their brands and intangible assets.

     

     

  • Zenith named 2013 Banker of the Year

    Zenith named 2013 Banker of the Year

    The Banker magazine, a publication of Financial Times of London, has named Zenith Bank this year’s Bank of the Year in Nigeria.

    The award ceremony, which was attended by leading personalities and institutions in business and finance from around the world, held at the Intercontinental Park Lane Hotel in London.

    It celebrates the achievements of the world’s leading financial institutions.

    Nominees for the award were judged by their ability to deliver shareholder returns and gain strategic advantage in market visibility and positioning.

    The award also indicates the level of trust and confidence on the brand and is a testament to the strong management, sound business model and prudent risk approach of Zenith Bank Plc.

    The Banker magazine said Zenith Bank was selected for its overall performance among other financial institutions and the opinion of leading financial analysts from the world’s financial markets.

    Receiving the award on behalf of the bank, Zenith Bank’s Group Managing Director, Mr. Godwin Emefiele, dedicated the award to the customers.

    He hailed the management and the workers for building Zenith into a respectable global brand.

    Emefiele said: “The bank’s competitive advantage as a financial powerhouse for value creation in Nigeria and the several achievements and successes of the brand are a result of a strategic combination of people talent, proprietary knowledge, strong brand equity, leadership, integrity and relationship management.”

    Zenith Bank was earlier named Nigeria’s largest financial institution by The Banker magazine.

    In its 2013 rating of the world’s top 1,000 banks, The Banker listed Zenith Bank as Africa’s sixth largest by Tier 1 capital, having grown its Tier I capital to $2.969 billion within 12 months.

    Zenith Bank has continually evolved through innovation, dynamism, insight and leadership and has ultimately become a brand adored globally for its tremendous success in the deployment of cutting-edge technology, niche marketing, competitive advantage, provisioning and unwavering commitment to providing best-in-class service to its customers.

  • Asaba Stadium named after Keshi

    Asaba Stadium named after Keshi

    Delta State Governor Emmanuel Uduaghan has named the Asaba Stadium after Stephen Keshi, who led Nigeria to win a third AFCON title.

    At a reception held at the Asaba International Event Centre, Uduaghan also rewarded Keshi with a sum of eight million Naira as well as a duplex in the state capital.

    Keshi’s assistants, Daniel Amokachi, Sylavnus Okpala, and Ike Shorunmu got four million Naira each, while each player got 2.5m naira.

    Members of the team who were old and present players of Warri Wolves got N5million. They are AFCON final hero Sunday Mba, Chigozie Agbim, Azuibike Egwekwe, and Nosa Igiebor.

    More state governments are in line to fete the victorious team.

  • SportingLife’s Ojeikere named Editor of the Year (Sport paper)

    It was all pomp and pageantry at the maiden edition of the Sports Business and Media Awards as crème-de-lacreme converged at the event organized by the Hally Sports International at the weekend in Lagos.

    The Chief Executive Officer, Hally Sports International, Mr. Godwin Spiff-Sagbama in his speech stated that the award is put together to recognize and also encourage the corporate world and the media men, stressing that the award would promote healthy rival in the industries.

    The awardees are; Pepsi won the sports drink of the year non-alcoholic, sports brand of the year alcoholic went to Nigerian Breweries Plc, Squadron carted the sports driven advert of the year while Nestle Milo picked the sports brand of the year confectionary, Oscar Ezinwa Football Academy won the Academy of the year.

    Other winners are; sports brand of the year finance –GTBank, sports brand of the year telecoms went to Globacom, sport administrator of the year goes to the Deputy Governor Lagos State, Princess Adejoke Orelope-Adefulire, Deji Omotoyinbo of Sports Vision on Classic FM won the radio presenter of the year while sports based radio presenter of the year went to Babafemi Raji. Milo World of Sports Raypower emerged sports programme regular, as Sports Machine on Brila FM was adjudge sports programme of the year.

    Sport based Radio producer regular went to Joseph Faulkner Classic FM, Radio producer sport based Femi Obong-Daniels of Nigeria info, Channels carted away the Sports TV of the year and Sports TV programme of the year (Sports to night Channels), Olalekan Okusan of The Guardian is the sports writer of the year, Romanus Ugwu of the Sun/SoccerStar emerged the Sport writer of the year sport based, Pius Ayinor of the Punch won the Sport editor of the year regular, just as the Punch became the newspaper of the year regular, Sports editor of the year sports based goes to Ade Ojeikere of Sporting Life.

    Toyin Ibitoye of Channels TV won the Sports TV presenter of the of the year, Complete Sports defeated other top contenders to the Sports newspaper of the year sport based while Ayodele Ojo of the Sun/SoccerStar won the photo journalist of the year award.

  • Why NBA named its Abuja house after Akeredolu, by Daudu

    Why NBA named its Abuja house after Akeredolu, by Daudu

    A former President of the Nigerian Bar Association (NBA), Mr Joseph Daudu, at the weekend said Ondo State Action Congress of Nigeria (ACN) governorship candidate, Mr Oluwarotimi Akeredolu (SAN) deserved the naming of the association’s house in Abuja after him.

    He said Akeredolu’s integrity, honesty and dedication to duty were among the virtues the NBA saw in him when it named its office in Abuja after the politician.

    Daudu spoke in Owo, Akeredolu’s home town, when he felicitated with him on his investiture as the life patron of the Owo Battalion of the Boys Brigade of Nigeria at St. Andrew’s Cathedral.

    The former NBA president noted that Akeredolu deserved the honour for his virtues.

    In a statement in Akure, the Ondo State capital, by the Director of Media, Publicity and Strategy of the Akeredolu Campaign Organisation (ACO), Mr Idowu Ajanaku, Daudu noted that the honour was a testimony to the ACN candidate’s commitment to his people.

    Also at the event was Senator Bode Olajumoke, who described Akeredolu as man of faith and integrity.

    Olajumoke said Akeredolu provided purposeful leadership when he was NBA president.

    He said he and Akeredolu belonged to the Anglican community, where they shared words of God together and moved the work of God forward.

    The investiture, Olajumoke said, was timely.

    Akeredolu thanked members of the Anglican community for the honour.

    He promised to rededicate himself to serve the people, especially if elected the governor.

    The ACN standard bearer said his hope and aspirations in life depended on God, who he said has been his pillar of strength in his journey in life.

    At the event were Akeredolu’s running mate, Dr. Paul Akintelure; the Director-General of their campaign organization, Chief Tayo Alasoadura, clerics, among others.