Tag: FirstBank

  • DecemberIssAVybe: FirstBank Sponsors Kakadu the Musical

    DecemberIssAVybe: FirstBank Sponsors Kakadu the Musical

    Head, Branch Services, Marina Branch, FirstBank, Abosede Ajewole (left); Head, Retail Mass Market In-branch and Digital Enhancement, Adeyemi O. Asolo; Winner, FirstBank Win Big promo, Nsikan Grace; Head, Other Asset & Liability Products, Personal Banking, FirstBank, Chukwuka Okonkwo; Winner, FirstBank Win Big promo, Balogun Jelili Adekunle and Business Manager, Retail Banking, Marina Branch, Adewale Bello at the recent official presentation of 100,000.00 naira to winners of the ongoing FirstBank Win Big Promo in which 310 customers won N100,000 each in the maiden draw 

    First Bank of Nigeria Limited has announced its sponsorship of Kakadu the Musical, a theatre production from the stables of Playhouse Initiative.

    The play, which is set to return to stage from 28 to 30 December 2023 at the Shell Hall, MUSON Centre, Lagos, is among the activities lined up in the 2023 edition of FirstBank’s annual DecemberIssAVybe.

    Written and produced by Uche Nwokedi, Kakadu the Musical is a reverberating drama of survival and hope that trails the journey of four friends from different tribes-Emeka, Kola, Osahon and Dapo alongside their female counterparts -Bisi, Amonia, Enoh and Hassana as they navigate a crisis that would change their lives forever.

    Set in the 1960s Lagos against the backdrop of a famous club Kakadu, the award-winning play will run from December 27 to 30, 2023 at the Shell Hall, MUSON Centre in Lagos. On the heels of its successful performances at the Nelson Mandela Theatre in Johannesburg, South Africa in 2017, Kakadu the Musical will thrill the Lagos audience with this nostalgic story that raises consciousness about friendship, humanity, love and nationalism.

    Crafted with an emotional plot, Kakadu the Musical is a pulsating theatrical spectacle that blends Anglo-American soul, pop music with highlife, Afrobeat and Nigerian folk music. Although Kakadu, as a nightclub, is a metaphor for Nigeria’s social reality between 1965 and 1972, the story still resonates with present-day realities.

    Kakadu the Musical fuels our collective memory with the truth about the consequences of ethnic bigotry, corruption and abuse of power. Through the plot structure, the playwright seeks to interrogate aspects of Nigeria’s history that obscures national unity.

    While announcing the return of this box-office hit, the producer of Kakadu the Musical, Nwokedi remarks that musical promises to be exciting, reviving theatre patronage in the fast-paced city.

    “Kakadu the Musical is like fine wine at 10. With the synergy of new and old cast members, the audience will enjoy a most exhilarating fusion of music, drama, fashion and dance.

    At Playhouse Initiative, we are keen on using these elements of arts to entertain and educate as well as to empower talented youths in the creative industry.

    We are excited to announce the return of Kakadu the Musical as the first of several activities lined up in our DecemmberIssaVybe bouquet this year. Kakadu the Musical is a successful export from Nigeria’s growing, admirable and globally renowned arts and entertainment industry.

    In a statement, the Group Head, Marketing and Corporate Communications, FirstBank of Nigeria Limited, Folake Ani-Mumuney, the bank said: “As a Bank woven into fabric of society for over 129 years, our First@arts initiative has played a pivotal role in the recognition of the abundant talents that abound in the country and we remain committed to being at the forefront of nation building; supporting through resourceful partnerships to build the Nigerian creative industry value chain which contributes to Nigeria’s GDP.”

    The FirstBank DecemberIssaVybe is a yearly campaign implemented to support the arts and entertainment sector in the country. During the month, the Bank provides more opportunities and platforms for yet another eventful Homecoming Experience for Nigerians.

    Foreigners are not left out as fun seekers are granted premium access to witness their favourite acts – live on stage and attend in-demand concerts and shows. DecemberIssaVybe is all about memories.

    To participate, all that is required is to register on FirstBank’s website https://www.firstbanknigeria.com/home/impact/sponsorships/events/decemberissavybe/ and follow the Bank’s social media pages – Facebook: First Bank of Nigeria Limited, Instagram: @firstbanknigeria.

     

  • Marine & Blue Economy, N9.9tr Allocation for Infrastructure, Others to Drive Growth in 2024

    Marine & Blue Economy, N9.9tr Allocation for Infrastructure, Others to Drive Growth in 2024

    Executive Director, Retail Banking South, FirstBank, Oluseyi Oyefeso (left); Head, Strategy & Corporate Development, Chike Uzoma; Group Executive, Transaction Banking, Olaitan Martins; Executive Director, Corporate Banking, Tosin Adewuyi; Special Assistant to the President on PEBEC and Investment, Jumoke Oduwole; Founder and Chief Consultant, B. Adedipe Associates Limited (BAA Consult), Dr. ‘Biodun Adedipe; Group Head, Marketing & Corporate Communications, FirstBank, Folake Ani-Mumuney; Founder, The FactBox Company and Leadership-By-Data, Babajide Ogunsanwo and Executive Director, Investment Management and Oversight, FBNHoldings, Oyewale Ariyibi, at the FirstBank Nigeria Economic Outlook 2024 in Lagos

    Policy and data analysts, as well as economic experts have declared that the creation of the Marine and Blue Economy Ministry and the allocation of N9.99 trillion for capital expenditure and infrastructure development in the 2024 Budget will be major drivers of growth in fiscal 2024.

    They also posited that Nigeria’s large population of 223.8 million comprising mostly youth of an average age of 17.2 years and the sixth largest populace in the world presents a positive outlook for the nation’s economy since a youthful and vibrant population is capable of buying and consuming anything.

    Speaking at FirstBank of Nigeria’s Economic Outlook 2024: Current Realities and Prospects, the pundits argued that President Bola Ahmed Tinubu’s policy thrust in critical sectors as captured in the 2024 budget point to a positive outlook for the nation’s economy in the year.

    Chief Executive Officer of Biodun Adedipe and Associates (BAA Consult), Dr. ‘Biodun Adedipe, who presented the keynote address at the summit, said the creation of the Ministry of Marine and Blue Economy and allocation of N9.99 trillion for capital expenditure (infrastructure development) represent a positive outlook for the nation’s economy.

    He said the way President Tibunu has handled national issues since assuming office shows that he listens to people’s opinions and that given that disposition, Nigerians should continue to speak up for the government of the day to take more proactive steps in moving the nation forward.

    “The President knows the value of money in a sustainable economy and he is poised to look for the money in all the critical sectors and one of his strategies is to appoint experienced and competent people into such key sectors to deliver on his administration’s mandate. Another area of strength is the Federal Government’s focus on capital expenditure last seen in the 1980s,” he said.

    In his overview of the 2024 budget, he stressed that other interesting indices for positive economic outlook are rapid urbanisation at 51.96 percent in 2020 and 53.96 percent in June 2023, up from 47.84 percent in 2015 and deepening internet penetration at 45.57 percent in August 2023, rising from 31.48 percent in December 2018.

    “The nation’s teledensity at 116.6 percent in December 2022 and 115.63 percent in August 2023, a drop from 123.48 percent in December 2018 (91 percent in March 2019) and Internet users for which Nigeria ranks 11th globally are also good pointers to a better and resilient economy projected to grow at 3.5 percent this year.

    “On exchange and interest rates, the Federal Government benchmarked the budget assumption at N800/$; significant utterance N650-N750/$, while JP Morgan pegged it at N850/$. The Monetary Policy Rate (MPR) of 18.75 percent is expected to be raised to reduce negative interest rate by closing the domestic inflationary gap of 26.72 percent and respond to rate differentials with dollar interest of 4.58 percent yield on 10-year treasury bonds and inflation of 3.7 percent,” he said.

    He further explained that money supply and imports have maintained a relentless uptick on inflation rate, while local oil refining, revived manufacturing and focused export promotion will support stability to the Naira exchange rate, just as improvement in infrastructure would begin to positively impact the cost of doing business.

    Adedipe, who urged the Federal Government to create a friendlier business environment for more businesses to thrive, pointed out that Switzerland, Japan, Germany and other countries have been making enquiries on investment opportunities in the Nigerian economy in 2024 and beyond.

    He stressed that the government should strive to attract and retain manufacturers, adding that big manufacturing companies like GSK, P&G and Nestle, among others exiting in recent times, was not about Nigeria, but they were doing so to align with their global business strategies.

    “Most of the companies exiting Nigeria are still producing and shipping to countries from which they exit, but still export from. It is global shift of international trade post-COVID 19 pandemic. But essentially, China, India and Lebanon are dominant countries in terms of trade with Nigeria,” he added.

    Speaking during the panel session, Founder of FactBox Company and Leadership-By-Data, Babajide Ogunsanwo, who said security remains crucial to agriculture and food production, lamented that across the 45 sectors of the economy, crop production was growing at only 1.65 percent, while post-harvest losses in the country was still high at 60 percent.

    He said the Federal Government should leverage the country’s youthful population and ensure availability and affordability of food by engaging in all-year faming, as well as provide facilities for improved processing, storage and preservation of farm produce with a view to attaining a sustained agricultural production and entire food chain.

     

  • FirstBank Clarifies Platform Upgrade, Assures Banking Services Will Not Be Affected

    FirstBank Clarifies Platform Upgrade, Assures Banking Services Will Not Be Affected

    • First Bank of Nigeria (FBN) has clarified that its upcoming platform upgrade is limited to its suppliers’ platform and will not affect its digital banking services.

    The bank made this known in a statement on Friday, dispelling misconceptions that its core banking services would be disrupted.

    In the statement, Folake Ani-Mumuney, Group Head of Marketing and Corporate Communications at FBN, explained that reports circulating in the media had misinterpreted the bank’s communication regarding the transition from its current I-Supplier platform to a new cloud-based supplier system.

    The transition, she noted, is intended solely for the bank’s vendors and will have no impact on customer-facing banking services.

    “We wish to address a misleading report circulating in the media regarding a system upgrade at FirstBank. The message which was incorrectly interpreted and reported was sent to, and intended for, our vendors only,” Ani-Mumuney said.

    She further clarified that no system upgrade is currently underway for banking services, and all customer applications and transactions will remain fully operational throughout the supplier platform transition.

    “Please be informed that no system upgrade is currently underway, and all our customer applications are fully operational. We are not experiencing disruption to our services, and our banking systems, customer transactions, channels, etc., will not be affected by the enhanced supplier platform.”

    FBN reassured customers that its banking services would continue without interruption, emphasizing its commitment to seamless service delivery.

    The bank’s cloud-based supplier platformtransition is scheduled to take place from October 26 to November 3, 2024, with the new solution expected to go live on November 4, 2024.

  • FirstBank, JAN Crown Winners of 2024 National Company of the Year Competition

    FirstBank, JAN Crown Winners of 2024 National Company of the Year Competition

    FirstBank, in collaboration with Junior Achievement Nigeria (JAN), has announced the winners of the 2024 National Company of the Year (NCOY) competition.

    The event, which took place on Friday in Lekki, Lagos, brought together 12 schools representing various states, who were finalists from an earlier round of competition.

    FirstBank Managing Director, Olusegun Alebiosu, speaking at the event celebrated a significant milestone, revealing that with the announcement of the 2024 winners, the initiative has produced 1.5 million student entrepreneurs.

    Alebiosu, represented by the General Counsel of the bank, Raymond Mgbeokwere, noted that this year’s edition also marked the 25th anniversary of the competition, which began in 1999.

    He highlighted the purpose of the program as a means to inculcate entrepreneurship knowledge and practice among senior secondary school students.

    The competition, he explained, would help participants understand business organisation and operations, as well as how to apply innovative solutions to real-world challenges.

    “This is why FirstBank, for the past 10 years, has been fully committed in its partnership with JAN and sponsorship of the National Company of the Year competition,” Alebiosu stated.

    The FirstBank boss also emphasized how the initiative aligns with the bank’s FutureFirst Initiative, a programme designed to promote financial literacy and career counselling among Nigerian youth.

    Through this initiative, over 1.5 million students from 2,500 schools have been positively impacted.

    Alebiosu praised the innovations presented at the competition, noting that the theme for the 2024 edition, “Greenovation,” encouraged students to develop innovative solutions for environmental challenges.

    He stressed the importance of sustainability and urged for collaboration in tackling environmental issues such as pollution and waste disposal through recycling and upcycling.

    “The various innovations showcased today reveal that there is hope for Africa,” Alebiosu added.

    Darun Noor Intercontinental School, Kano, emerged as the overall winner of the 2024 competition with their company, Smart Sprout Solutions, which invented a Smart Sprinkler for farmers.

    The school received a cash prize of N500,000 from FirstBank and will represent Nigeria at an upcoming African competition in Mauritius.

    In second place, Innovative Heritage School, Nasarawa, earned recognition for their company, De-Amazons, which created organic marker ink from coconut shells, charcoal, and used engine oil.

    Ibesikpo Secondary Commercial School, Akwa Ibom, placed third with their company, Green Cycle, which produced fashionable bags from recycled plantain stems.

    The event also featured several special awards, including Best Female LeadershipCEO of the YearBest Corporate Social Responsibility (CSR), and the Public Choice Award.

    Olaolu Akogun, Senior Programmes Manager at JAN, explained that the businesses presented by the students were carefully assessed based on their ideas, financial reports, presentations, and exhibitions before winners were selected.

    He also noted the long-term impact of the programme, which has equipped over 1.5 million young Nigerians with entrepreneurial skills.

    “We’ve raised 1.5 million young people that have what it takes to own their economic future,” Akogun added.