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ACAMB Elects New Executives, As Bolarinwa Emerges President – Naijanewsdirect

  The Association of Corporate Affairs Managers of Banks (ACAMB) - an umbrella association of communications and marketing professionals, working in Nigeria's banking sector - has elected new executives who will pilot the affairs of the Association for the next two years. The hugely attended AGM/ election for key positions, saw Mr. Rasheed Bolarinwa, Head, Corporate Communications of Polaris Bank emerged the new ACAMB President. First Bank's Mr. Oze K. Oze was elected First Vice President; Mrs. Lola Egboh of First City Monument Bank (FCMB), Second Vice President, while the new Secretary-General is Mr. Sipe Babajide of Ecobank. The position of Assistant Secretary General was won by Mr. Omede Odekina of United Bank for Africa (UBA), while Mr. Patrick Osilaja of Fidelity Bank emerged the Financial Secretary. Wema Bank's Mrs. Funmilayo Falola is the new Treasurer while Mr. Abdul Imoyo of Access Bank will serve as the Association's Publicity Secretary. Also on the new executive list is Mrs. Ozena Utulu of Heritage Bank as Social Secretary. Four distinguished members of the Association namely: The immediate past President, a staff from CBN, NDIC and CIBN respectively are to serve as Ex-officios. The election of the new officers held on Thursday, 19 January at the Bankers' House, CIBN Building, Victoria Island, Lagos. In his post-election acceptance speech, the new ACAMB President, Bolarinwa, assured members that he would reposition ACAMB as a foremost professional Association that they would all be proud of. He added that his vision also includes innovating post-retirement strategy that ensures members have a sustainable livelihood long after exiting the industry. "I will be committed to my vision, which is to reposition ACAMB as a foremost professional Association that encourages and ensures every marketing communications professional in the Banks aspires and attains the highest level of professional recognition and fulfillment on the job while at the same time being assured

FirstBank Rewards Customers In Transact And Win Promo – Naijanewsdirect

  Getting rewarded for spending money is a dream that is probably going to remain exciting for many people, but not for the Firstmonie Wallet users. In a two month Transact and Win campaign that started on November 22, 2021, First Bank of Nigeria Limited is rewarding several customers for carrying out transactions on its Firstmonie Wallet application. The e-wallet is useful for conveniently paying utility bills, purchasing airtime and data, transferring and receiving money, and many other digital transactions. Just for using the mobile-friendly wallet app, Customers got rewarded with mouth-watering prizes both in cash and kind. The number of transactions done on the app determines the price a user could win. 100 customers who had done 1-15 transactions through Firstmonie Wallet within the month won N10,000 cash price; 53 25kg bags of rice and 50 units of standing fans were also won by customers who carried out 16 – 30 transactions with the Firstmonie Wallet; 2 units of power generating sets, 1 unit of Air Conditioning systems and 1 unit LED Televisions went to customers who carried 31 – 50 transactions; while 2 units of iPhone 12 were won by customers who had carried out over 50 transactions on the app within the month. Victor Nnanna Onyedikachi, a student of the University of Abuja was one of the winners of the iPhone 12, and while receiving his gift, he admitted that he did not expect to win the prize.  “I used the Firstmonie Wallet App, and just like that, I was told that I had qualified. I did not believe it until I saw it myself. I am truly grateful to FirstBank” he said. Other winners also expressed their pleasure at being rewarded for using a completely user-friendly app. “There is no issue of service error when using it for any transaction. The

LIRS Announces January 31 Deadline For Filing Of Annual Tax Returns By Employers Of Labour – Naijanewsdirect

As the new year begins, Lagos State Internal Revenue Service (LIRS) wishes its esteemed taxpayers a prosperous 2022. The agency also reminds businesses and employers of labour of their statutory obligation to file annual income tax returns pursuant to section 81 (2) of the Personal Income Tax Act (PITA) Cap P8 LFN 2004 (as amended). The Act stipulates January 31st as the deadline for filing of annual income tax returns, failing which penalty accrues. The Executive Chairman of Lagos State Internal Revenue Service, Mr. Ayodele Subair urges all businesses and employers of labour resident within Lagos State, to file their annual income tax returns on or before January 31, 2022, to avoid payment of penalties as well as other statutory sanctions. The only available platform for filing of annual income tax returns in Lagos State is the LIRS e-Tax portal: https://etax.lirs.net. The e-Tax portal is built for convenience of taxpayers, is easy, convenient and safe. All businesses and employers of labor are advised to use the e-Tax portal to file their returns. Taxpayer ID of all employees is compulsory for the annual income tax returns to be successful filed on the e-Tax portal. Therefore, all employees and taxable persons within the State are advised to generate a taxpayer ID (where applicable) and file their individual annual income tax returns on the e-Tax portal. As part of the Agency’s quest to ease compliance obligations for taxpayers, it has designated some staff at its various offices to assist taxpayers with using the e-Tax portal and other filing related issues. For more information or any inquiries, taxpayers are enjoined to visit our website:www.lirs.gov.ng, follow us on our various social media platforms: @lirsgovng, email:etaxinfo@lirs.net or call the LIRS customer care hotline: 0700CALL LIRS (0700-2255-5477). Taxpayers are advised to stay safe and adhere to all Covid-19 guidelines as stipulated by the Lagos

Unity Bank Partners RIFAN Mega Rice Pyramid Display, Pledges More Support For Farmers – Naijanewsdirect

  Agric-focused lender, Unity Bank Plc has partnered Nigerian rice farmers under the aegis of Rice Farmers Association of Nigeria, RIFAN to unveil a mega rice pyramid on the occasion of the National Rice Festival held in the Federal Capital Territory, Abuja on Tuesday. The event, which coincided with the flag-off of the dry season farming, was used to showcase the gains produced by rice farmers in driving self-sufficiency in rice production through the Central Bank of Nigeria’s Anchor Borrowers Programme, ABP. Speaking to newsmen at the event, the Managing Director/Chief Executive Officer of Unity Bank, Mrs. Tomi Somefun, while going down memory lane on the support of the rice farmers by the Bank since the inception of the Anchor Borrowers Programme, ABP commended the rice farmers for their unwavering belief and collaboration in the implementation of the intervention programme, adding that as the PFI (Preferred Financial Institution) for the ABP transactions, the Bank will continue to support the farmers and ensure that more smallholder farmers get the requisite financial support to boost rice production. She said: “Our strategic partnership with RIFAN started in 2018 when we financed about 273,000 smallholder farmers. This was the largest single-ticket transaction in that year. This financing cut across 33 states of the Federation including the FCT. “In 2019, the Bank increased the tally by financing another 146,810 smallholder farmers for the wet and dry season farming. This funding cut across 35 States of the Federation including the Federal Capital Territory (FCT). “Additional funding was granted to finance additional 221,450 smallholder farmers of the Association across the 32 states of the Federation including FCT for the wet season and additional 300,000 hectares was financed in sixteen states for the 2020 dry season cropping season. “As of March 2021, the Bank has financed no fewer than 190,000 smallholder rice farmers across 35

Adeduntan: FirstBank Is Resilient, Stable And Built For The Long Haul – Naijanewsdirect

  The Managing Director/Chief Executive Officer of First Bank Nigeria Limited, Dr. Adesola Adeduntan, last year saw his tenure extended as part of efforts to ensure the stability of the financial institution. In this interview with THISDAY, he spoke about the intervention of the Central Bank of Nigeria, the future of the bank, trends that shaped the economy in 2021, his expectations for 2022 and other pertinent banking sector issues. Excerpts…   What is the level of the Central Bank of Nigeria’s involvement in First Bank? The central bank’s involvement in FirstBank is essentially about playing the role of the regulator. CBN’s intervention has been in the best interest of the bank’s stakeholders and its performance; aimed at restoring confidence in the bank as well as to reassure the depositors, creditors and other stakeholders of the bank of its commitment to ensuring the stability of the financial system. Your third quarter results saw a decline in some of the key indicators such as gross earnings, profit before tax and profit after tax, what was responsible for this? The Commercial Banking reported a resilient performance resulting in a Profit before Tax of N44.3billion for the nine months period ended September 30, 2021. This result was delivered in a sustained low yield environment, which continues to compress margins as the macro-economic environment remained challenging amidst the negative impacts of the COVID-19 pandemic. FirstBank’s focus on putting the customers first continues to be a driving force as we keep supporting our customers in meeting their business needs. The evidence of this support is reflected in the 24.1% y-t-d growth in the loan book, underpinned by solid risk management practices and from which sustainable good quality earnings are being delivered as asset quality remains firmly under control. Furthermore, in our concerted efforts at sustaining our dominance in financial inclusion and digital

Fidelity Bank Inaugurates CSR Projects In Southwestern States – Naijanewsdirect

Foremost financial institution, Fidelity Bank Plc, has inaugurated Corporate Social Responsibility (CSR) projects in three South-Western states of Oyo, Ondo and Ekiti; as well as Kwara State. The projects which include the provision of maternal and healthcare materials for hospitals, renovation and furnishing of a juvenile correctional facility as well as provision of computers for secondary and tertiary institutions were officially inaugurated on Thursday, 30 and Friday, 31 December 2021. Speaking on the rationale behind the projects, Managing Director/CEO, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe said that the initiatives were executed in pursuit of the Bank’s CSR objectives which are centered on the environment, education, health/social welfare, and youth empowerment. According to Onyeali-Ikpe, “These projects, which are in line with the United Nations Sustainable Development Goals (SDG) Nos. 3 – Good Health and Well-being and 4 – Quality Education; are in demonstration of our corporate belief that profits should not only be measured in naira but in terms of the wellbeing of our host communities. That is why we regularly look for opportunities to advance the fortunes of people in locations we do business”. At the official handover of the renovated boys’ hostel and administrative block facilities of the Oyo State Juvenile Correctional Institution/Child Care Unit, Ijokodo, Ibadan, the Oyo State governor, Seyi Makinde, who was represented by the Permanent Secretary, Ministry of Women Affairs and Social Inclusion, Mrs. Christiana Abioye, thanked Fidelity Bank for the intervention explaining that, “Oyo state government, in its drive to deliver a number of people oriented and social services to the teeming population of the state, has been able to reach out to many individuals, organisations and corporate groups to partner with it in the achievement of these mandates through the running of an open and sincere administration.   “I am glad that the management of this financial institution was

Heritage Bank, LASG Show Commitment To Sport Development – Naijanewsdirect

Heritage Bank plc has reiterated its commitment to promoting sports in Nigeria, in partnership with Lagos State Government to back the 3rd Edition of the annual Lagos Value Jet Para Table Tennis championship. The three-day para table tennis championship hosted 45 table tennis games, which held in the Molade Okoya-Thomas Hall of Teslim Balogun Stadium, Surulere Lagos. Speaking to the media during the games, the MD/CEO of Heritage Bank stated that the bank’s commitment to sports and its partnership with Lagos ValueJet Para Table Tennis resonates from the institution’s brand passion to support sports, especially for the physically challenged that would help in wellbeing, health and by extension nation building. According to him, Heritage Bank believes in development and having the tenacity to develop Nigerians both young and old, whilst encouraging the physically challenged especially the participants of the para table tennis that this game is capable of helping them to keep healthy and fit. He commended the Para–division of the Nigeria Table Tennis Federation (NTTF), Sunday Odebode’s Para Table Tennis Foundation for organizing the competition as well as the Lagos State Government for playing a leading role in the development of sports in the country. Sekibo who was represented by Ozena Utulu, the Ag Group Head, Corporate Communications also recalled the support it received from the Lagos State government when it organised the Skoolimpics, its signature sporting event with more than 6,000 students from over 600 public and private secondary schools from the six educational districts of Lagos Sate in attendance at the three-day sporting fiesta held in 2017. According to him, Skoolimpics is an idea conceived to bring into being a national sports festival for young people in secondary schools aimed at helping the country discover young talents who will re-ignite the spirit of excellence in competitive and recreational sports. “The idea was intended to

GTBank, Ecobank Are Currently Leading in Customers’ Adoption of The eNaira – Naijanewsdirect

  Ecobank and GTBank are currently leading in customers’ adoption of the eNaira. eNaira is Africa’s first Central Bank Digital Currency (CBDC) introduced by the Central Bank of Nigeria (CBN) in October. A report by TheCable says with more than 2,000 merchant wallets active, about 20 percent are domiciled with Ecobank, while GTB has majority of the consumer wallets activated by users amongst the top 10 financial institutions in the country.   According to the report, Ecobank is leading in merchant adoption, followed by Access Bank, Zenith Bank, Union Bank, First Bank, UBA, and Polaris Bank. Others banks in the top 10 list include Keystone Bank, GTB, and Wema Bank – in that order.   On the other hand, GTB is leading with majority of the consumer wallets activated by users from the top 10 financial institutions in the country. As far as consumer wallets go, GTB has more than 30 percent of the total activated consumer wallets held by all banks in Nigeria. Access Bank, Zenith Bank, First Bank, UBA, Polaris Bank, and Ecobank are the top seven banks with the highest number of activated consumer wallets.   In October, CBN unveiled the very first Central Bank Digital Currency in Africa with a lot of national and international interest on how well the electronic currency will perform and what problems it would solve in the banking and finance space on the continent.   As at November 29, 2021, about a month after eNaira went live, 589,000 downloads had been recorded for the digital currency across the iOS and Android app stores. That translates to an average of 20,000 downloads per day since launch.   Of the 589,000 downloads, 461,000 have been from the Android side of the market, while iOS downloads stand at only 128,000 downloads. Most of the downloads on both platforms happened in the first few days after the

FirstBank, Driving Dollar Remittances, Economic Growth Via IMTOS – Naijanewsdirect

  By Chinwendu Obienyi For centuries, there have been heated debates over the sources of economic growth in developing economies and why some countries reflect strong economic growth compared to others. The hypotheses have often centred around crude oil, agriculture, revenues, private capital, bubbling stock market, stable security, low unemployment rate, high standard of living amongst others. But in recent times, one factor that has been added to this list is diaspora remittances as it is one of the major international financial resources, which sometimes exceed the flows of foreign direct investment (FDI). Remittances promote economic growth by increasing household income and increasing income creates the opportunity to boost consumer spending, accumulation of assets, promotion of self-employment, and investment in small business. Data from the World Bank in 2014 indicates that global remittances stood at $430 billion dollar in 2011 and was 0.31 per cent of global GDP in 2009. The impact of remittances on any economy is more profound in developing countries because they receive $307.1 billion of the total N416 billion inward remittances, amounting to about 74 percent. Remittances also account for about 27 percent of the GDP of developing countries. According to the World Bank, remittances flows to the developing world have reached $414 billion in 2013 (up 6.3 per cent over 2012), and are now, behind foreign direct investment, the second largest source of external financial flows to developing countries. Daily Sun investigations reveal that the enormous upward movement in remittances payments may be attributed largely to two factors, namely; immigration between developing and developed countries which increased dramatically in the past 20 years and declined in transaction costs as technological improvements have allowed for faster, lower cost mechanisms for the international transfer of payments between individuals. This means that it is different from other external capital inflows like foreign direct investment, foreign loans

FirstBank DecemberIssaVybe: Top 11 Events To Rock Your December – Naijanewsdirect

  Whenever the conversation is on financial inclusion in Nigeria, FirstBank leads the pack. With over 150,000 banking agents, a full digital banking centre and other innovative solutions, the nation’s premier bank is surely doing a great job connecting Nigerians with access to convenient banking products and services. But that’s not all. FirstBank is also enabling Nigerians to have the best of the yuletide and holiday season year in year out. The bank is aiding its customers to create exciting memories and enjoy fun time with family and friends through their participation in glamorous musical shows, comedy, dance, drama and other entertainment from A-list superstars and performers. This is being coordinated via the FirstBank DecemberIssavybe initiative as it bankrolls top entertainment events for maximum pleasure throughout the month of December. To enjoy the premium concerts, stage plays, fashion and food events; lucky customers and followers of the Bank’s social media pages – Facebook: First Bank of Nigeria Limited, Instagram: @firstbanknigeria should look out for posts on how to participate in the ticket giveaways. Here are top 11 events that FirstBank is powering to rock your December. BURNA BOY LAGOS CONCERT Nigerian Grammy Award winning superstar, Burna Boy will at the Eko Convention Centre on Monday December 27 lead other top singers to thrill music fans with many monster hit songs like Kilometre, Questions, Ye, Want It All and others. DAVIDO 10TH YEAR ANNIVERSARY CONCERT Davido aka OBO will on Friday December 24, shut Lagos down at his 10th year anniversary concert at the glamorous Eko Convention Centre. David has been in the news for his extreme generosity which has got his fans loving up on him. The show will feature many other superstars. MAMMA MIA, THE SMASH HIT MUSICAL A 65 member (All Nigerian) cast and crew licensed adaptation of the global show live in Lagos showing between December 29, 2021

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