Category Archives: Blog

FCMB Promotes Tourism; Backs Ojude Oba Festival 2018

First City Monument Bank (FCMB) Limited has urged Nigerians to sustain the country’s cultural heritage in order to boost tourism and its associated benefits. According to the Bank, this will go a long way to educate and inspire generations about the history of Nigeria, the people and values, while also fast-tracking the ongoing efforts of the government to diversify the economy. FCMB stated this at a press conference in Ijebu-Ode, Ogun State on August 6, 2018 to flag-off activities to celebrate this year’s Ojude-Oba Festival, scheduled to hold on August 24, 2018. The Bank has over the years been a major sponsor of the Festival and has continued to play a significant role in ensuring its success. For this year’s Festival, FCMB has assured its stakeholders of an exciting and rewarding experience, including excellent products and services on offer, for the thousands of people within and outside the country that would grace the fiesta.

The Ojude Oba (which in Ijebu dialect means, the king’s fore-court or frontage) is a major festival in Nigeria that began over 100 years ago. It brings together all sons and daughters of Ijebuland in Nigeria and diaspora for a carnival-like celebration of the traditional, cultural, spiritual accomplishments and other values of the Ijebu nation. During the Festival, various age groups (popularly known as the Regberegbes), indigenes, their friends and associates from far and near – all in their colourful costumes and riding on horses – throng the palace of the Awujale and Paramount Ruler of Ijebuland to pay homage to him amidst prayers and other fun-filled activities. In a goodwill message to the Awujale of Ijebuland, Oba (Dr.) Sikiru Adetona on the occasion of this year’s Festival, the Founder of FCMB Group who is also the the Olori Omo-Oba Akile Ijebu, Otunba (Dr) Olasubomi Balogun, expressed his gratitude to the Awujale of Ijebuland, especially considering the paramount ruler’s selflessness in attending to the different requests and yearnings of the people of Ijebuland. In a message delivered on his behalf by the Group Head, Corporate Affairs of the Bank, Mr. Diran Olojo, Otunba Balogun commended Oba Adetona for his, ‘’distinguished and exemplary leadership over the years which has continued to endear you to all of us’’He stated that, ’I sincerely appreciate the amazing grace of the same Almighty God we share together, much more for sparing our lives to celebrate yet another Ojude Oba Festival. The Festival provides us- all your children and subjects, the period when we gather to pay you homage and demonstrate our affection for a very unique monarch, an exceptional father figure and the Paramount Ruler who has continued to endear himself to his people. Apart from being the Olori Ebi (the head of the family, by the grace of Almighty God and interestingly not in contest by all who admire the grace of our God), as your Olori Omo-Oba (the head of princes and princesses), I will continue to lead the way in showing our appreciation by being very close to you and showing my total loyalty to you’’.

While congratulating the entire indigenes of Ijebuland, the FCMB Founder also prayed that the monarch’s reign would, ’continue to be filled with many more years of joy, good health and satisfaction in all that you endeavour to do for your people both at home and in the diaspora’’. In the same vein, the Group Chief Executive of FCMB Group Plc, Mr. Ladi Balogun, congratulated the monarch for upholding the values of Ijebuland and raising the status of the event over the years. He reiterated the commitment of the financial institution to the longevity of the Ojude Oba Festival. ’For all true sons and daughters of Ijebuland, the Ojude Oba Festival is more than an event for us. It has become a long-standing yearly tradition we look forward to as a unifying platform and a tourist attraction. For over a century, the Festival has become an internationally acclaimed event that has gone a long way to promote our cultural heritage and further unify humanity. As a socially responsible corporate citizen, we recognise that respect for our heritage is important as a catalyst of cultural diversity and a guarantee of sustainable development’’, he said. Mr. Balogun added that, ‘’the Ojude Oba Festival, for us at FCMB, is not just another event. It is a pride to us; being a major platform through which we connect with the community and promote our nation’s diversity through purposeful partnership. The annual display of rich cultural heritage via the Festival attracts tourists from across the globe and Ijebu indigenes in the diaspora, boosting trade and the hospitality sector in the region.  It is time to begin to see the Ojude Oba Festival as a fulcrum to inspire individuals, awaken their entrepreneurial spirit and encourage the birthing of other endeavours that stimulate development in a sustainable manner’’.

First City Monument Bank (FCMB) is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.

FCMB Bank (UK) Limited Launches Personal and Business Banking Proposition to Deepen Inclusiveness

Lagos: July 31, 2018:  FCMB Bank (UK) Limited, an independently incorporated subsidiary of First City Monument Bank Limited (which is a member of FCMB Group Plc), has introduced its Personal and Business banking proposition in London, United Kingdom and Lagos, Nigeria at an impressive ceremony attended by the top echelon of the business community within and from outside the country. The development follows the latest variation of permission obtained by the United Kingdom-based Bank to extend its services to include retail (investments) for individuals and business enterprises. This is in addition to the existing wholesale deposit taking activities, foreign exchange, treasury, corporate banking and trade finance offerings to corporate and institutional customers of FCMB Bank (UK) Limited. The variation of permission was granted by the Prudential Regulation Authority, the financial services regulatory body of the United Kingdom, and it became effective on June 8, 2018.

The Personal and Business banking proposition of FCMB Bank (UK) Limited is anchored on the Bank’s London Leverage and Africa Awareness. This will enable the financial institution deliver its promise of being the Corporate and Private Bank for African-oriented entrepreneurs, investors and professionals across all their banking needs. The Group Chief Executive of FCMB Group Plc, Mr. Ladi Balogun, explained at the ceremony that the launch of FCMB Bank (UK) Limited’s personal and business banking proposition is as much a statement of substance as it is one of intent. According to him, “our successful UK platform has proven to be of great importance to the Nigeria stockbroking and international trade finance activities of FCMB Group. Leveraging our deep networks in Africa’s biggest economy, the importance of a London presence to many of our Personal and Business banking customers, and technological innovation, we welcome this opportunity to meaningfully serve more of our customers and grow the value of our UK franchise”. Also speaking, the Chief Executive Officer of FCMB Bank (UK) Limited, Mr. James Benoit, said, “with the extension of its services, the Bank is now able to receive deposits from both customer segments as well as provide them bank loans to enable them meet their financing needs. The deposit products on offer include current, notice savings and fixed deposit accounts at competitive rates; while its lending products include Buy-to-Let Mortgage Loans enabling target customers to acquire a piece of London and purchase property to include in their investment portfolios.’’.

He added that the Bank will be expanding its premises and entering into partnerships with Fintech providers to open up service options to its clients and enhance their overall banking experience Dignitaries at the launch commended the Board and Management of FCMB Group Plc for going the extra mile in ensuring the institution has a very strong presence in the United Kingdom through FCMB Bank (UK) Limited, which will go a long way to boost individual and business transactions between Nigeria and the United Kingdom, thereby enhancing customer experience. Operating in the City of London, FCMB Bank (UK) Limited began its operations as a BIPRU €50k investment firm in September 2009 with CSL Stockbrokers (another subsidiary of FCMB Group Plc), providing the services of “receiving and transmitting” institutional client orders for Nigerian listed securities. Subsequent to the variation of its permission on September 27, 2013, the Bank commenced wholesale deposit taking activities across various segments.

 

 

 

 

More Customers Win Cash, other Prizes at FCMB’s Millionaire Promo Season 5 Draws

First City Monument Bank (FCMB) has rewarded another set of 644 lucky customers in its ongoing reward scheme, tagged ‘’FCMB Millionaire Promo Season 5”. The second set of winners emerged at the second draws of the promo held across Nigeria on Wednesday, July 25, 2018. This brings to a total 1,288 customers of the Bank who have so far won cash and other gifts since the promotions commenced in March this year.  The FCMB Millionaire Promo Season 5, which runs till November this year, is an extension of the Bank’s previous promotions.  It is designed to give extra value and reward to our customers, while encouraging financial inclusion and savings culture in the country. The promo is targeted at all segments of the society, especially existing and potential savings account customers of the Bank. This however, excludes salary and domiciliary account holders.

While four lucky customers won N1million each, a total of 640 other account holders smiled home with LED television sets, generating sets, decoders, tablets, smart phones and other consolation prizes, at the end of the electronic selection exercise. At the Lagos Regional draw held at Gbagada, a suburb in the State, Mercy Ailekhue was the lucky winner of N1million, while Hulera Zubairu won the same amount at the Abuja & North Regional draw which took place in Kano. The third N1million winner, Ukwuaba Aliu, came from the South-East/South-South Regional draw held in Port Harcourt, Rivers State, just as Williams Rotimi was also rewarded with N1million at the South-west Regional draw in Ijebu-Ode, Ogun state speaking on the promo draws, FCMB’s Executive Director, Retail Banking, Mr. Olu Akanmu, said, ’We are excited that more of our customers have continued to be rewarded and empowered through this exciting reward scheme. We are committed to impacting the lives of individuals and businesses by delivering valued-added products and quality service that translate to exceptional customer experience. Our existing and potential customers are encouraged to partake in the FCMB Millionaire Promo, because it is an avenue to turn dreams to reality’’.

On how to participate, Mr. Akanmu, explained that all an existing or a new customer of the Bank has to do is to increase his or her balance by N10,000.00 in any of the eligible savings account and maintain it for 30 days to qualify for the Zonal and Regional electronic selection of winners where the star prize of N1million and other fantastic prizes will be won.  Multiple savings of N10,000.00 will increase the probability of winning. To qualify for the grand finale draws in November 2018, where four customers will each win N2million, existing and new customers are to increase their balances up to N50,000.00 and maintain them for 30 days. Multiple savings of N50,000.00 will also increase the chances of winning. The third draws of the promo will hold in September and the grand finale is in November.  

First City Monument Bank (FCMB) Limited is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.

 

 

 

 

 

 

 

FCMB Lauds ICC, CBN, Urges Better Collaboration among Stakeholders on International Trade

The Managing Director of First City Monument Bank (FCMB), Mr. Adam Nuru, has urged banks and other financial institutions in Nigeria to brace up to the challenges of international trade and commerce by collaborating more with other stakeholders in order to tap into the opportunities in the sector. This, according to him, will boost their performance and overall contribution to the development of the country.

He stated this while declaring open, the bi-monthly general meeting of the International Chamber of Commerce (ICC) Nigerian Banking Commission held on July 10, 2018 in Lagos and hosted by FCMB. ICC is the world’s business organization, a representative body which authoritatively speaks on behalf of enterprises from all sectors in every part of the world. The body founded in Paris, France in 1919, groups hundreds of thousands of member organisations, including Banks and associations in over 120 countries. Business experts drawn from the ICC membership establish the business stance on broad issues of trade and investment policies as well as on a wide range of policy subjects of interest to organisations worldwide. Mr. Nuru, who was represented by the Executive Director of Finance at the Bank, Mrs. Yemisi Edun, pointed out at the meeting that maintaining a sound culture of compliance, due process and capacity building among experts on the trade desks of Banks, should be accorded priority.

‘’Due process, digitalization and capacity building would go a long way to break the myth of the perception that international trade is a sacred area of operation alone by Banks. Banks must also collaborate more with government and other stakeholders to explore better ways to maximise the new and emerging opportunities in the sector’’, Nuru stated. He added that, ‘’to ensure the business of international trade and commerce is conducted in a responsible and transparent manner, ICC Nigeria should continue to ensure we operate under full and complete compliance with all applicable laws, rules, regulations, policies, and best practices’’.

FCMB Managing Director also commended ICC Nigeria for its commitment towards building a transparent, strong and viable banking industry and international trade platform, especially its efforts at reviewing the new order of trade that encourages adoption of emerging global best trade settlement practices. In his address at the meeting, the Chairman ICC Banking Commission in Nigeria, Dr Raymond Ihyembe, advised Banks to upscale their operations with regards to international trade and commerce so as to mainstream businesses in Nigeria into the global community and to promote the creation of wealth and prosperity through international trade and investment.

He further assured that the Commission will continue to, ‘’assist in the formulation of policies and guidelines for the Banking sector, to effectively key into and take advantage of opportunities. We operate in several areas such as arbitration, taxation, commercial law practice, among others, which are necessary for the success of the Banking sector’’.

First City Monument Bank (FCMB) Limited is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.

12 Ways to Motivate Your Team to Be Creative By Jeffrey Baumgartner

If you are a manager, your creativity responsibility is twofold. Not only should you be more creative yourself, but you should also be motivating your direct reports to be more creative. It is that combined creativity that leads to innovation, improved problem solving and, I believe, a more fun workplace. To make your job easier, here are a dozen ways to motivate your team to be more creative.

1. Compliment and Criticise Meaningfully

Compliment people regularly and in a meaningful way, not only to their faces, but behind their backs so that people know you are sincere in your compliments and that you have faith in your direct reports. This builds trust which, in turn, ensures people feel confident about sharing crazy ideas with you. It also means they are more accepting of your criticism. Managers who continually criticise their direct reports, destroy trust. Why share a novel idea with a boss you know will criticise it and possibly criticise you as well? It is safer to keep your head down and follow the status quo in order to minimise criticism.

When you need to criticise people, start with a compliment, ensure the criticism focuses on their actions rather than them and be meaningful in your criticism. If possible, add a challenge to the end of the criticism

“That’s an idiotic idea, you moron!” is a terrible criticism!

“I like your thinking about the new product, Lisa, but I feel that it adds unnecessary complexity at a time when we are trying to simplify the user experience. How could you achieve similar functionality with the complexity?”

2. Challenge people often.

Most intelligent people thrive on challenges. And creative challenges are particularly…. challenging. If you regularly challenge your subordinates to come up with new ideas, you will exercise their creative minds regularly and make their work environment more interesting. In particular, in situations where you might once have said, “it cannot be done”, ask instead: “How might we do it?” Where once you might have said: “We don’t have the budget to do that!”, ask instead: “What can we do to reduce the cost of that idea so that we can fit it in our budget?” or “What could we do to convince senior management to buy into this idea?”

When preparing a presentation to a client, don’t just open PowerPoint on your computer and call up your standard business presentation template. Instead, start by asking your team: “Let’s make this presentation truly original and awesome, so much so that the client begs us for our business by the end. Now, how shall we do this?” When performing routine tasks, ask, “Can you think of any shortcuts that will make this faster and easier?”

And so on. Constant challenges keep everyone’s minds sharp and lead to lots and lots of great ideas on a regular basis.

Don’t forget to challenge yourself regularly. It will do wonders for your creative output.

3. Remind people that You want ideas

This may seem obvious, but it needs to be said. Always remind people that you are keen to hear their ideas. Challenges are one way to do this. You should also remind your direct reports in meetings and informal chats that you value their ideas.

Needless-to-say, when people come to you with their ideas. Listen attentively, provide positive feedback and, if there are problems with the idea, challenge the idea owner to solve those problems.

4. Ask open questions, especially about assumptions

Open questions make people think and thinking is good for creativity. If something goes wrong, do not immediately explain why it went wrong. Ask the team why they think it went wrong and what they can do to prevent it from happening again.

In particular, get in the habit of questioning assumptions. Big business tends to collect a lot of big assumptions. Over time, some of those assumptions become invalid. If you do not question them, you may not notice the change. Kodak assumed people most wanted quality printed photographs from cameras and neglected to go digital until it was too late.

Question little assumptions as well. Perhaps you never contact prospective clients on Friday afternoons, because you assume they will be busy finishing tasks off just before the weekend. But is that true? Maybe they will have a more open mind knowing the weekend is coming.

5. Provide Time and Opportunities to Think.

In his paper “Organisational creativity – the top ten enablers” (PDF), Wayne Morris noted that the number one enabler for organisational creativity is providing time to think. And this is an issue I have seen in many companies. Management wants employees to be more creative. Management has invested in idea management tools, innovation training and more for staff. But, employees are so overworked handling day to day tasks, that they do not have time to stop and think. Worse, in open plan office, the employee who is seen staring off into space is likely to be seen as one slacking off rather than one who is hard at work thinking up innovative ideas for the company.

Make it clear that thinking is good. Encourage your team to think. Let yourself be seen thinking and share your thoughts. Provide comfortable spaces for thinking (see below). Better still, encourage people to go for walks during the day, which is not only good exercise, but great for creative thinking.

6. Provide Space to Think and Talk and Create.

A couple of years ago, the East of England Development Agency undertook a survey of about 1000 people and found that only 10% had ideas at their desks. Moreover, only 6% of woman and 17% of men had ideas anywhere in the workplace. Thus you need to provide your subordinates with places where they can think and collaborate on ideas. Niches with tables and chairs are simple, yet effective. People can find a niche, sit and talk. More elaborately, you can provide innovation rooms with beanbag chairs and toys in them for people to really relax and think.

Hold creative meetings off-site. Go to a comfy café and, if it is culturally acceptable where you are, allow people to have a glass of wine or a beer. A drink or two has been shown to enhance creative thinking. Many of the co-working spaces, that are popping up in cities around the world, have interesting meeting rooms for rent.

7. Go on Creative Thinking Field Trips.

At least one of my client’s employees regularly visit spaces where their products are used. There they are challenged to think of new uses for their products, new way ways to apply their products and new products that would appeal to their existing clients. This is a great way to generate ideas. Escaping the office brings everyone a breath of fresh air. Visiting environments where your product is used puts you in the mind of your client. And that helps you think in new ways. You can also visit places not directly related to your business and find inspiration. Art galleries, museums of all kinds and unrelated businesses can inspire ideas. Look at how a friendly, family owned restaurant in a small town serves its customers and ask how you might offer the same level of service to your big business customers. Think about taking a walking meeting in a nearby park or nature trail.

When my first company was very young, I took both of my employees to see the film Jurassic Park and dinner. During the meal, we shared some crazy ideas inspired by the film.

8. Push Ideas.

When we are looking for ideas, we have a tendency to stop when we get our first good idea. You should not do that and you should encourage your direct reports not to do so either. Instead, push thinking further. What are the weaknesses of your good idea? How could you overcome them. Is your idea rather conventional? Then push it. Encourage people to go wild. That’s where great ideas come from.

When a direct report comes to you with an idea, ask her to push the idea further or ask “That’s a good idea, but I believe you can do better. Play with it and see what you can come up with!”

9. Implement Ideas

This may seem obvious. But many innovation initiatives focus on idea generation without allowing for idea development and implementation. An expensive facilitator might lead a dozen of your most creative people in a brainstorm that results in 150 ideas which are neatly categorised. However, if the organisation fails to implement any of those ideas, the exercise is an expensive and demotivating waste of time. Likewise, idea management software that captures ideas that never seem to be implemented is soon recognised as a waste of time.

And, if proposing ideas is perceived as a waste of time, people will stop proposing ideas.

On the other hand, if ideas are regularly developed and implemented; if stories about those implementations are shared, then people will feel that time spent thinking creatively is time well spent.

 10. Tools

Tools can help employees develop and collaborate on ideas as well as help you capture and manage ideas. Tools can include basic things like whiteboards in meeting rooms for sharing ideas; and pens, markers and paper for working on ideas.

Tools could include toys for building and modelling things, such as building blocks, Lego, dolls, craft materials and anything else people could use to model ideas or build rough prototymes

You might consider software based tools, such as mindmapping software, note taking apps for the telephone and my absolutely free Anticonventional Thinking Questions tool.

11. Encourage Humour

Creativity and humour go hand in hand. Laughter relaxes you and frees you. Crazy ideas are welcome when everyone is laughing already. Laughing frees up our inhibitions and makes us feel good. Jokes, like creative ideas, are usually about bringing together dissimilar concepts in new ways. When a group is laughing, participants often try and outdo each other with funny ideas. And those funny ideas are often very creative ideas.

In my creativity workshops, the groups that laugh the most tend to have the most creative ideas.

12. Be Creative Yourself – and Demonstrate it!

A good manager leads, of course, by example. If you tell your subordinates to be creative, but never share a creative idea yourself – you are not setting a very good example.

You are certainly a creative thinker − after all, you are reading up on creativity! But are you also demonstrating creativity? Do you share your ideas? Do you seek unusual solutions to problems? Do you use creativity tools? Do you participate in creative thinking activities?

If not, do so. Be creative and do not be shy about it! It will only encourage creativity among those around you.

FCMB Bank (UK) Limited Expands its Banking Proposition to Include Personal and Business Banking

London, United Kingdom – 26th June, 2018  Individuals and Business Enterprises who seek to transact their banking services between Nigeria or other African countries and who desire to maintain a banking relationship in the City of London now have the opportunity to do so. FCMB Bank (UK) Limited recently obtained a variation of its banking permission to include retail (investments) services. The permission was granted by the Prudential Regulation Authority and became effective on the 8th of June 2018.  Based on this approval, FCMB Bank (UK) Limited is now able to extend the level of excellent banking services its Corporate and Institutional Customers currently receive to High Net Worth Individuals (HNWI) and Small and Medium Business Enterprises.

Mr James Benoit, Chief Executive Officer of the Bank, said,

“This approval and extension of services is a major achievement which will enable the Bank deliver its promise of being the Corporate and Private Bank for African-oriented entrepreneurs, investors and professionals across all their banking needs. The Bank will be expanding its premises and entering into partnerships with Fintech providers to open up service options to our clients and enhance their overall banking experience.”

Mr. BC Achary, Chief Risk Officer of the Bank advises,

“With the extension of its services, the Bank is able to receive deposits from both customer segments as well as provide them bank loans to enable them meet their financing needs. The deposit products on offer include current, notice savings and fixed deposit accounts at competive rates; while its lending products include Buy-to-Let Mortgage Loans enabling target customers to acquire a piece of London and purchase property to include in their investment portfolios.”

Mr. Ladi Balogun, CEO of FCMB Group Plc added,

“Our successful UK platform has proven to be of great importance to the Nigeria stockbroking and international trade finance activities of FCMB Group. Leveraging our deep networks in Africa’s biggest economy, the importance of a London presence to many of our Personal and Business banking customers, and technological innovation, we welcome this opportunity to meaningfully serve more of our customers and grow the value of our UK franchise.” The Bank has completed arrangements to formally launch its Personal and Business Banking proposition on the 19th July, 2018 in London and subsequently on 31st July, 2018 in Lagos.

Mrs Stella Okuzu, Head, Personal and Business Banking explained,

“As a customer-centric business, both events will enable the Bank to meet with prospective customers, share the Bank’s Personal and Business Banking proposition and obtain first-hand feedback on their banking needs and requirements”. Operating in the City of London, FCMB Bank (UK) Limited is a UK incorporated bank and a wholly-owned subsidiary of First City Monument Bank Ltd (FCMB), a member of the FCMB Group PLC (Nigeria). FCMB Bank (UK) Limited began its operations as a BIPRU €50k investment firm in September 2009 with its CSL Stockbrokers division providing the services of “receiving and transmitting” institutional client orders for Nigerian listed securities. Subsequent to the variation of its permission on the 27th September 2013, the bank commenced wholesale deposit taking activities, offering a wide range of products including foreign exchange, treasury, corporate banking and trade finance services to corporate and institutional customers. With the bank’s Retail permission approval, the bank’s customers now include individuals and business enterprises.

 

FCMB Launches Education Advisory Services for Overseas Studies

Leading financial services provider, First City Monument Bank (FCMB), has unveiled a scheme tagged, ‘’FCMB Education Advisory Service’’, that would ensure convenient and affordable education support for its customers who or their children desire to study abroad and obtain undergraduate and post-graduate degrees. The support includes overseas admission information services, school fees remittance, school living allowances and travel fares, loans to support school fees payments, visa process, travels and examination preparation. Access to customers and other aspiring candidates is said to be available on FCMB website with branches where operational desks are currently located, listed. It is part of the Bank’s contributions towards developing a new generation of brilliant minds that would take Nigeria to the next level. The scheme is in partnership with MOD Group, a foremost international education promotion and marketing company with operations deeply rooted in Nigeria and covering the West Africa sub-region. Under the initiative which was launched at a ceremony on May 30, 2018 in Lagos, FCMB is offering a full range of core financial services, tailored to meet the needs of its customers in the area of acquiring education abroad. This is in addition to a wide range of benefits that the Bank is providing for potential and existing students under the Education Advisory Service initiative.

Among these are, up to N5million school fees support to customers from the Bank and Credit Direct Limited, one of the subsidiaries of FCMB Group Plc (the holding company), Flexx account (in foreign exchange) for students going abroad to study, prompt and secure international funds transfer through internet banking platforms for the payment of school fees and other educational expenses abroad. There is also the issuance of FCMB debit cards, including the pocket money card (pre-loaded) that can be used to withdraw cash from overseas ATMs and make payments at stores and supermarkets. On the other hand, MOD Group will provide advisory services, such as, school admission processing, visa processing and examination preparation for beneficiaries of the FCMB Education Advisory Service. Speaking at the launch of the initiative, the Executive Director, Retail Banking of FCMB, Mr. Olu Akanmu, stated the commitment of the Bank to champion and execute initiatives that would promote education and knowledge acquisition among Nigerians. According to him, ‘’at FCMB, we walk and work with our customers to fulfil their life aspirations for themselves, their families and their businesses, including the provision of the best education. The FCMB Education Advisory Services in partnership with MOD Services and international partners also covers school admission process, Visa processing, travel and examination Preparation. We recognise that knowledge of what to do and how to do it matters in securing good overseas education. FCMB will also be providing prompt school fees and living allowances remittance, loans to support school fees payment and international cards to support living overseas for Nigerian students

Mr. Akanmu also added, ‘’we have Lufthansa Airline, beside other partner airlines on board to offer students, discounted fares under this scheme. This also covers their guardians accompanying them. In addition, we have AXA Mansard coming on board to provide medical cover for the students to the tune of $60,000 a year’’. Also speaking at the ceremony, the Managing Director of MOD Group, Mr. Michael Dosunmu, expressed gratitude to FCMB for the partnership. According to him, ‘’one of the major challenges faced by Nigerians who desire to study abroad is funding and the necessary information to achieve this. We believe that with our partnership with FCMB, through the platform of the Education Advisory Service, this challenge will be addressed. By providing a platform for Nigerians, especially young ones to study abroad, we will be helping to develop a new set of manpower equipped with the required international exposure, knowledge and skills to champion the development of the country. We therefore urge all those who have big dreams for their children and families to take advantage of this opportunity’’. The Permanent Secretary/Tutor General, Ministry of Education in Lagos State, Mrs. Olufunmilayo Onadipe, described the Educational Advisory Service scheme as a step in the right direction. She stated that, ‘’education is the bedrock of any society. For FCMB and MOD Group to come up with this package is an indication that they are committed to providing the necessary support to assist families and our young ones develop academically. I will appeal to FCMB to also accommodate wards from public schools, as they also desire the same foreign education’’.

On his part, Head of Communications, British Council, Mrs. Edemekong Uyoh, said, ‘’we consider the FCMB Education Advisory Service as an initiative that would give opportunities for young Nigerians and enhance capacity. The more educated we are, the more we can add value to our lives, economy and the society. At the British Council, we are particular about providing young people with pathways for the future. This is one of the initiatives that also align with our objectives and we are happy to associate with it’’. Also commenting on the scheme, a Representative of the High Commission of Ireland, Tessa Bagu harped on the importance of education. She stated that, ‘’education is the key to the future and development of a country. It is knowledge that drives development. Ireland is one of the leading economies in Europe today because of the high level of education of the people. We are optimistic that through the partnership between FCMB and MOD Group, Nigeria will grow further’’.

Standard Chartered renew LFC partnership Partnership extended to run until end of 2022/23 season

Liverpool Football Club and Standard Chartered Bank are pleased to announce a four-year extension to their main sponsor agreement, taking the Bank’s partnership with the Club through to the end of the 2022/23 season. The Bank first signed up as the Club’s main sponsor in July 2010, and the agreement was extended in 2013 and again in 2015. Financial terms of the agreement remain confidential. Liverpool FC has a large number of fans across Standard Chartered’s core markets in Asia, Africa and the Middle East and the sponsorship provides the Bank with an opportunity to accelerate visibility of its brand, improving recognition across key markets around the world.

Additionally, over the last eight years Standard Chartered and Liverpool FC have used their partnership to support a number of the Bank’s sustainability and community investment programmes. The annual ‘Perfect Match’ game – where LFC players swap the Standard Chartered logo on their shirts for the Seeing is Believing logo – has raised more than USD480,000 to tackle avoidable blindness.  Billy Hogan, Managing Director and Chief Commercial Officer, Liverpool Football Club said: “As a Club we’re very proud to have Standard Chartered renew their relationship for another four years. Our connection runs deep, it means more than just sponsorship, from the outset it has been about working together with the Club and our communities and supporters around the world. “Importantly, it also means we are able to support our ambitions on the pitch and compete with the best in the world. We have enjoyed many highlights of this relationship so far and I look forward to many more.”

Bill Winters, Group Chief Executive, Standard Chartered, said: “Liverpool FC is one of the world’s best-known football clubs and we are proud to be associated with them. It is a fantastic club that shares many of our values and is hugely popular across our global footprint. Our partnership has provided valuable support to the charitable initiatives close to our hearts and has helped us to further engage with our clients and staff as well as with LFC fans. We are excited to be able to continue this partnership, and look forward to building on our successful relationship.”

 

FCMB Produces More Millionaires in First Draws of ‘ ’Millionaire Promo Season 5

The first draws of First City Monument Bank’s (FCMB) latest bumper reward scheme, tagged, ‘ ’FCMB Millionaire Promo Season 5 ”, took place across Nigeria on May 23, 2018 with the emergence of additional four customers of the Bank as millionaires. In addition, 640 other customers won various exciting gifts, ranging from LED televisions, power generating sets, decoders, tablets, smart phones and other consolation prizes.
The winners emerged through electronic selection of qualified customers at a colourful ceremony held at the four regions and 25 zones that make up the financial institution’s footprint. In attendance were officials of the National Lottery Regulatory Commission, Consumer Protection Council, community leaders, thousands of customers of the financial institution and other dignitaries.
 At the Lagos regional draw which took place at the Sanusi Fafunwa branch of the Bank in Victoria Island, Lagos, Mourence Oluwatoyin Ibitola  emerged winner of N1million, while Mr. Murphy Onminyi won N1million at the Abuja/North regional draw held at Wuse Zone 4 in Abuja. In addition, Binabi Miller smiled home with N1million at the South-East/South-South draw held at Effurun town in Delta State, just as Mrs. Moriliat Ajerinola was rewarded with the same amount at the South-west  regional draw that took place at Ojoo branch of FCMB in Ibadan, Oyo state.
One of the winners of N1million, Mrs. Moriliat Ajerinola, a teacher, commended FCMB.
 According to her, ‘’I am on top of the world. This is a marvellous experience. To FCMB, thank you very much and God will continue to bless the Bank’’.
The ‘ ’FCMB Millionaire Promo Season 5”, which commenced in March and will run till October 2018, is part of the various initiatives of the financial institution to reward customers for their loyalty and patronage during the year. It is targeted at all segments of the society and for existing as well as potential savings account customers. The eligible products or accounts for the promo include FCMB basic savings, kids account, Nairawise, e-savings and premium savings.
Speaking on the latest draws of the promo, the Executive Director, Retail Banking of the Bank, Mr. Olu Akanmu, said, “we are delighted to produce another set of millionaires and winners of various gift items. We will continue to reward and enhance the experience of our customers through this promo and other offerings that will further empower and add value to them. All they need to do to be a winner in the promo is to keep on saving with FCMB”.  On how to participate in the ‘  FCMB Millionaire Promo Season 5’’, Mr. Akanmu, explained that all an existing or a new customer of the Bank needs to do is to increase his or her balance by N10,000.00 in any of the eligible savings account and maintain it for 30 days to qualify for the Zonal and Regional electronic selection of winners where the star prize of N1million and other fantastic prizes will be won.  Multiple savings of N10,000.00 will increase the probability of winning. To qualify for the grand finale draws in November 2018, where four customers will win N2million each, existing and new customers are to increase their balances up to N50,000.00 and maintain it for 30 days. Multiple savings of N50,000.00 will also increase the chances of winning.  The second draws of the promo will hold in July, the third in September and the grand finale is in November.
First City Monument Bank (FCMB) Limited is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.

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