Tag Archives: Finance

FCMB Excites Customers with Millions in First Draws of Season 6 of ‘’Millionaire Promo’’

The first draws of season 6 of the First City Monument Bank (FCMB) savings reward scheme tagged ‘’Millionaire Promo’’, took place nationwide on May 23, 2019. At the end of the draws, another set of four customers of the Bank each won the star prize of N1 million. Moreover, hundreds of other customers smiled home with various exciting prizes, ranging from LED televisions, power generating sets, decoders, tablets, smart phones, among others. 

The winners emerged through random selection of qualified customers at a colourful ceremony held at the four regions and 19 zones that make up the Bank’s footprint in Nigeria. 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. 
The new millionaires are Olabisi Omotayo (Lagos region), Mustapha Egba (Abuja & North region), Helen Okon (South-east & South-south region) and Sholanke Olalekan (South-west region). One of the winners of N1million, Mrs. Helen Okon, commended FCMB for its commitment to the success of its customers through the ‘’Millionaire Promo’’ and other reward as well as empowerment initiatives.  
According to her, “I am very surprised to win N1million in the Promo; it is unbelievable. I thank FCMB, I am very proud to be a customer of the Bank and very grateful. This prize is very special to me. Surely it is going to change so many things for me. I don’t regret being a customer. I appreciate the Bank’s quality of service, FCMB is the best”.

Another winner of N1million, Mr. Mustapha Egba, stated that, “FCMB is truly a friend and partner in progress. God bless FCMB”.
Speaking on the ‘’FCMB Millionaire Promo’’, and the draws, the Executive Director, Retail Banking of the Bank, Mr. Olu Akanmu, said, we are delighted to produce another set of millionaires and winners of other prizes in the first draws of the promo. Thousands of Nigerians have so far benefitted from this life changing initiative since it commenced in 2013. The season 6 of the promo will produce another set of 16 millionaires. Thousands of other lucky customers will be rewarded with various exciting prizes. We will continue to reward and enhance the experience of our customers through this promo and other offerings, aimed at further empowering and adding value to them in line with our core values. We are also committed to distinguish our offerings in the retail banking space by delivering exceptional products and services that would ultimately ensure the growth and achievement of the personal and business aspirations of our customers. All our customers need to do to win in the millionaire promo is to keep on saving with FCMB”. 

On how to participate in the ‘’FCMB Millionaire Promo Season 6’’, Mr. Akanmu, explained that all existing or new customers of the Bank needs to do is to increase their respective balances by N10,000.00 in any of the eligible savings accounts 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 2019, 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, a leading financial powerhouse in Nigeria. With subsidiaries that are market leaders in their respective segments, the lender has successfully transformed to a retail and commercial banking-led group.

Legacy Pension Managers Limited is now FCMB Pensions Limited

As part of the strategy to harmonize its global brand and identity, FCMB Group Plc has announced a change of name in the pension management arm of its business. Formerly known as Legacy Pension Managers Limited, the leading financial services holding company’s fund managers firm will now be known as FCMB Pensions Limited. In a statement released in Abuja, the Federal Capital Territory, the Group said, following the acquisition of majority shareholding in the company by FCMB Group Plc and the approval of the Board of Directors at its meeting of October 17, 2018, the change of name will positively enhance the company’s marketing and distribution activities.

Reacting to Media inquiries, the Managing Director of FCMB Pensions Limited, (formerly Legacy Pension), Mr.  Misbahu Yola, notifying shareholders said, “what has happened is expected and an important alignment of our marketing message. There has been a comprehensive integration of the pensions business into FCMB Group, which is known for its culture of excellence, resilience and customer focus. It is another way of welcoming it to a group that has endured and enjoyed stability and sustainable growth in the last 41years”FCMB Group Plc is a leading financial services group with businesses in commercial and retail banking, investment banking and wealth management, across seven subsidiaries that was founded in 1977 and became a public listed company in 2005. FCMB increased its stake in its pensions business between 2017 and 2018 from 28.3% to 91.6% currently. The acquisition is expected to engender sustainable and diversified low-risk growth momentum. The pension firm will also leverage on FCMB’s extensive distribution network, alternate channels, digital innovation, investment research, and rapidly expanding customer base.

Chairman of the Board of FCMB Pensions Limited and the Group Chief Executive of FCMB Group Plc, Mr. Ladi Balogun said, “the change of the company’s name will entrench a single brand identity across our pensions and retail banking businesses. Having distinguished ourselves in consumer finance over the years and gaining greater market share in retail payments solutions and savings accounts, a comprehensive suite of asset and wealth management propositions is a natural addition to our growing base of 5 million customers. The brand harmonization will enable us create greater marketing synergies and, along with other initiatives, accelerate the growth of our pensions business”.

Standard Chartered announces Key Appointments in Africa

 

The Board and Management of Standard Chartered Bank are pleased to announce the appointment of Bola Adesola as Senior Vice-Chairman, Africa  effective  immediately  following  Statutory  and  Regulatory  approvals.   In  this  new capacity, Bola will be responsible for supporting the execution of the Bank’s strategic intent within the Africa region, including representing Standard Chartered Bank on various Boards in Africa. She will also lead as the Group’s Senior Banker on key relationships and transactions. Bola joined the Bank in March 2011 as the CEO OF Nigeria and subsequently became the CEO for Nigeria and West Africa in 2015. Prior to joining the bank, Bola was Executive Director, Corporate Banking in First Bank of Nigeria Plc, Nigeria’s biggest bank, and she also had oversight of the retail and commercial banking business in Lagos. Previously, she was CEO of Kakawa  Discount  House,  Nigeria,  a  securities  trading  company  where  she  drove  record business performance. She also worked in Citibank for nine years in senior leadership roles in Nigeria and Tanzania.

Called to the Nigerian Bar in 1985, Bola has over 30 years of banking experience and expertise. Bola is an Honorary Fellow of the Chartered Institute of Bankers Nigeria (CIBN), sits on the board of the Nigerian Interbank Settlement Systems Plc, and also chairs the Central Bank of Nigeria Bankers’ Sub-Committee on Economic Development, Sustainability and Gender. She was appointed to the Board of the United Nations Global Compact in 2015 and appointed as the Co Vice-Chair of the Board in 2018. In Standard Chartered, Bola is a member of the Global Diversity and Inclusion Council, and is actively involved with women’s networks across the bank. She also sits on the boards of Standard Chartered in Ghana and Cote D’Ivoire respectively.

Bola will be succeeded by Lamin Manjang as Chief Executive Officer (CEO) Nigeria and West Africa, subject to Statutory and Regulatory approvals. Lamin joined the Bank in 1999 and has over the past 19 years, built up extensive experience including Cluster CEO for Kenya and East Africa, and CEO in Oman, Uganda and Sierra Leone. Kariuki  Ngari  replaces  Lamin  as  the  Chief  Executive  Officer  (CEO)  Kenya,  subject  to Statutory and Regulatory approvals. Kariuki brings 23 years of banking experience, having served more recently as Group Head, Service Quality in Group Retail Banking. Prior to this, he was Global Head, Retail Distribution, Head of Consumer Banking Kenya and East Africa, and Regional Head, Retail Banking, Africa. The appointment of Cluster CEO, East Africa will be announced in due course.

Sunil Kaushal, Regional CEO, Africa and Middle East, Standard Chartered Bank said: “In Africa and Middle East we have made investments in our people both in their career and personal development, and continue to support our People Strategy to build a high-performance culture through an integrated approach to talent and succession planning. These changes ensure a smooth  and  orderly  succession  which  will  allow  us  to  continue  our  unrelenting  focus  on delivering our strategy and capturing opportunities across the region

FCMB partners WSBI to boost financial inclusion and savings in Nigeria

    

First City Monument Bank (FCMB) is set to substantially increase its support to agribusiness, its value chain and growth of the Nigerian economy after signing a Memorandum of Understanding with the World Savings and Retail Banking Institute (WSBI). The memorandum outlines a framework to deepen agency banking, financial inclusion and savings culture in the informal and agribusiness sectors. As part of the terms of the partnership, in addition to the stated areas of support, WSBI will provide technical oversight supervision on a regular basis to ensure the achievement of mutually agreed goals set by both institutions. According to the memorandum, the project involves FCMB rolling out an integrated savings account – named ‘Kampe Account’ – to offer financial services under phase one of its plan to 150,000 unbanked and under-banked farmers across five states through agricultural agents operating under the bank’s agency banking proposition. The first set of states to benefit in this first phase are Kaduna, Kano, Nasarawa, Ogun and Oyo. The plan is to reach 2 million farmers across the entire nation by year 2023.

In addition to the financial support to farmers, FCMB plans to deploy its state-of-the art technology and mobile banking solutions to drive the project mainly in the rural and sub-urban farm settlements where most farmers are based. The bank will also organize capacity-building programmes for farmers aimed at facilitating their understanding of the sector and promote innovative ideas that would make the sector attractive, ultimately facilitating job creation that would in turn, impact on productivity and income.  Commenting on the grant from WSBI and the initiative, FCMB’s Managing Director and Chief Executive, Mr. Adam Nuru noted the development will revolutionize agribusiness – one of the various empowerment strategies adopted by the bank that is appreciated by stakeholders within and outside Nigeria.

According to him, ”partnering with WSBI and harnessing the business model we have developed to drive it, under our Kampe Account, is built on a sustainable approach which ensures farmers can gain better access to finance and other resources needed to help them build successful businesses.” Nigerian smallholder farmers have been at a disadvantage due to several factors including land fragmentation, inadequate farming equipment, broken value chains, poor access to finance and inadequate cash flow. Over the years, they have suffered from lack of essential services such as access to good markets to create low economies of scale, challenges in the promotion of agricultural productivity, hurdles in their bid to achieve increase in food security to improve rural livelihoods for engendering systematic growth out of poverty. FCMB and WSBI are optimistic that these challenges will be addressed.

Mr. Nuru added: “Farmers who benefit from this effort can and should make the best use of the opportunity. FCMB will continue to partner with WSBI to create opportunities that would ensure the realization of the personal and business needs of customers.” WSBI Managing Director Chris De Noose concluded: “The Kampe Savings Project is yet another example of the innovative ways rural communities can flourish through mobile savings and beyond.  Expanding banking access and agricultural services through the provision of mobile services to the farming community, which increasingly includes more women, can help knock out any doubt about the payoff that farming can bring.”

About FCMB

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 banking and wealth management led group, FCMB expects to continue to distinguish itself through innovation and the delivery of exceptional services.

 

About WSBI

The World Savings and Retail Banking Institute (WSBI), founded in 1924, represents the interests of 6,000 savings and retail banks globally, with total assets of $15 trillion and serves approximately 1.3 billion customers in nearly 80 countries (as of 2016). The Institute focuses on international regulatory issues that affect the savings and retail banking industry. It supports the achievement of sustainable, inclusive, balanced growth and job creation, in industrialized and less developed countries.

 

 

 

FCMB Promotes Entrepreneurship Among the Youth, Urge Innovation

Leading financial services provider, First City Monument Bank (FCMB) has once again demonstrated its commitment towards the empowerment of youths in entrepreneurship by sponsoring a capacity building programme for almost 1,000 members of the National Youth Service Corps (NYSC) in Abuja on July 30th, 2018. Tagged ‘’Youth Entrepreneurship and Empowerment Programme’’, it was in partnership with Activate Success Foundation. The highly engaging, interactive and exciting session provided a platform for the youth corpers to look inward, develop and deploy their business skills through practical trainings facilitated by experts and successful business owners.

According to the Bank, the development will go a long way to empower them with the requisite resources to start and grow successful businesses during and after their service year in order to become financially independent and contribute significantly to national development. Commenting on the initiative, the Executive Director, Retail Banking of FCMB, Mr. Olu Akanmu, said it is in line with the commitment of the Bank to provide multiple opportunities that would inspire and enable youths to be actively engaged and eventually become successful business owners. According to him, ‘’FCMB Flexx account empowers Nigerian youths with the entrepreneurial and employability skills they need. Many youths set up their own businesses from their campuses. FCMB will be there with them to provide the necessary entrepreneurial and business skills they need to make great successes out of their businesses. FCMB will also provide great support for the youth businesses and work with them to nurture and grow the youth entrepreneurial ventures’’. Also speaking, the Founder of Activate Success Founder, Love Idoko, said, ‘’I have a penchant for motivating people. There are business-minded youths out there that are just looking for mentorship or business ideas as well as funds to start their businesses. The purpose is not just to give grants, it is to also empower and motivate as many youths as possible”.

Among the facilitators at the programme were a Member of the Lagos State House of Assembly, Hon. Desmond Elliot; Chief Executive Officer, Vodi Tailors, Mr. Seyi Adekunle and Executive Director, YIAGA Africa, Mr. Samson Itodo, of the #NotTooYoungToRun fame. At the end of the programme the sum of N2.7million was given as grant to some of the youth corpers with excellent business ideas to enable them start-up. FCMB has over the years developed various engagement programmes focused on empowering young Nigerians such as #FlexxYourCreativity, #FCMBFlexxtern and the Flexx Youth Entrepreneurship Masterclass. Through these initiatives, FCMB has given young entrepreneurs and students access to training, funding, mentorship, networking opportunities and jobs. The Bank’s Flexxzone (http://flexxzone.fcmb.com/) also provides useful resources to help young Nigerians build their business and career, while keeping up with latest trends in fashion, lifestyle and entertainment. The Bank’s youth product, Flexx, is one of its innovations to simplify and make banking services exciting. The Flexx proposition has continued to meet the overall financial and other socio-economic needs of young people from the age range of 16 to 30years. This is summarised in the description of Flexx as, “An app, a card, an account”. These features give account holders the freedom to bank on the go, using the Flexx Mobile App and also the Bank’s USSD code, *329#.

With a clear understanding of its market and environment, FCMB is well positioned to continue to create value by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.

 

 

 

 

 

 

 

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 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 Commits to Growth of Media Industry, as Expert Projects Positive Outlook for Nigerian Economy

Nigerian media industry by empowering its practitioners with the requisite tools and knowledge that promotes the values of professionalism and ethics in the discharge of their duties. This, according to the Bank, is as a result of the critical role the media plays in national development. FCMB gave the assurance at an interactive and capacity building forum it organized for media executives and correspondents based in Abuja and the Northern Region on February 9, 2018. The forum had a foremost financial and media expert who is also the Chief Executive Officer of RTC Advisory Services Limited and lecturer at the Lagos Business School, Mr. Opeyemi Agbaje, as guest speaker.

In his address at the event, the Group Head, Corporate Affairs of FCMB, Mr. Diran Olojo, explained that it is part of the Bank’s initiatives to further promote excellence, build capacity of media practitioners, spur ideas, deepen relationships and appreciate their contributions over the years to the success of the Bank since its establishment 34 years ago. According to him, ‘’at FCMB we recognize the strategic importance and role of the media not just in promoting our business, but in the areas of agenda setting, providing solutions and dissemination of quality and balanced communication that drives national unity and development in a sustainable manner. As an institution anchored on the culture of excellence and professionalism, we will continue to champion and execute initiatives that would assist the Nigerian media industry and journalists perform optimally as the fourth estate of the realm and key influencers. We therefore urge our media practitioners to reinvent themselves and expand the frontiers of their knowledge by adopting innovative skills that would help them meet the dynamics of the profession while upholding due diligence and ethics that conform with global best practices’’.

Mr. Olojo told the gathering that as an inclusive lender, FCMB will continue to offer and deliver cutting edge solutions that provide the best customer experience. He added that the Bank is resilient and focused on sustaining the momentum of its position as a top financial institution by supporting initiatives that would enhance the growth and achievement of the personal and business aspirations of its customers as well as the overall prosperity of Nigeria. In his paper titled, ‘’The Nigerian Economy and Financial Sector in 2018’’, the guest speaker at the media parley, Mr. Agbaje, observed that having overcome the recession in some critical areas, things were looking up for the nation’s economy going by the positive signals shown by several macroeconomic indicators, such as stable exchange rates, growing foreign reserves and inflation. The former Senior Banker however noted that, “there are a couple of areas of the economy – the non-oil economic sectors that require more passionate attention. They include the manufacturing, employment and the domestic food sectors. In addition, there are also a few fuel subsidy concerns. A lot of cleaning up is going on in the financial sector while portfolios and profitability are improving. From a number of indications, the economy should record incremental improvements in 2018, over 2017. However, the recovery is mainly powered by the oil sector. It is also imperative for our economic system to be skewed towards an investment-led growth strategy to facilitate sustainable development across all sectors’’.

Mr. Agbaje, a one-time Chairman of Convention on Business Integrity, also urged the media to brace up to the challenges of the profession by playing more active roles in not just reporting activities, but serving as a compass to society. He added that it is the responsibility of media practitioners to ensure diligence, ethics, fairness and professionalism in the discharge of their duties in order to promote peace, understanding and progress. Over the years, FCMB has organised series of initiatives to empower and build the capacity of the media industry. For instance, the Bank in 2016 hosted financial journalists to a parley under the theme ‘’Raising the Bar’’, which had the Chief Executive of Corporate Shepherds Limited, Mr. Idorenyen Enang, as guest speaker. In 2015, it organised a similar capacity building programme for journalists in the new media. Among the guest speakers was an international journalist, Mr. Inigo Gilimore, who spoke on the topic, ‘’Stimulating Responsible New Media Journalism: A Pathway to International Recognition’’.

In addition, FCMB in 2014 brought together media executives to a training programme on, “Sustainable Banking in Nigeria: The Role of the Media”. The session had theManaging Director of UK-based Sustainable Finance Advisory Limited, Carey Bohjanen, as guest speaker. 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.

 

 

 

 

FCMB Excites Nigerians with Banking on Love Campaign

First City Monument Bank (FCMB) is set to motivate about 100 customers among its youth segment with cash rewards, other exciting prizes and engagements to commemorate this year’s Valentine’s celebration. In its annual campaign tagged, “Banking on Love”, the lender said many young and even some older people view the February 14th Valentine Day celebration as solely defined by the day’s activities with their chosen partners and loved ones.

Today, First City Monument Bank (FCMB) Limited thinks differently. The Bank, speaking through its Head of Corporate Affairs, Mr. Diran Olojo, enjoined the youth to see love as a virtue that is all encompassing. FCMB said love is more about care, giving, commitment, passion, trust and responsibility for the comfort, protection, security and happiness of the next person with an open mind and genuiness of purpose. He stated that the position further goes to define some of the activities engaged in by the Bank which pays close attention to many segments of the Nigerian society. According to Mr. Olojo, “at FCMB, it is not all about business at all times. There is a strong propelling philosophy which also drives us to be concerned about the best way to positively affect our immediate environment. How best to reach and impact the less-privileged. We always think about the best strategies to adopt to help the needy people in our society. We care about the orphans, the widows, the aged people, our youths and the internally displaced persons (IDPs) who have been affected by insurgency, man-made and other natural disasters.  We believe one of the positive outcomes of sound corporate governance, is impacting positively on lives and communities in Nigeria. Indeed, as businesses act responsively and boost their performance indices, they should also devote a part of their income to giving back to the society by engaging in various life-changing activities. At FCMB, we have been guided’’This year’s Banking on Love campaign will include cash awards and some giveaways to many youth customers during and after Valentine celebration, a global event that climaxes on February 14th. N10,000 each is being given to 25 young people every week, throughout February, the month of Love. To be eligible to win, customers are required to carry out transactions with their cards that add-up to at least N5,000 in a week. Winners will be announced weekly.

The Flexx account is FCMB’s youth-centric banking product targeted at young people who are actively seeking platforms that allow them express their uniqueness, while building skills for financial success. This is summarized in the description of Flexx as, “An app, a card, an account”, which gives account holders the freedom to bank on the go, using the Flexx Mobile App. FCMB’s Executive Director, Retail Banking, Mr. Olu Akanmu while responding to an inquiry said, “Flexx is more than an account. It is a lifestyle platform that offers the customer experience centred around Fun, Future and Banking. FCMB serves this platform through digital channels that fit into the lifestyle of the Flexx target market which include the Mobile App, a Microsite and an Online Account Opening platform, all of which enable a potential Flexx customer open an account with FCMB without having to visit a branch″.

In a bid to define love beyond the euphoria of the moment, FCMB said the Bank is aware of the challenges faced by people and the society. It was for this reason that it consciously chose to bring hope and smiles to the people and communities. The Bank extended its hand of benevolence to internally displaced women in Maiduguri, Bornu State by providing training and financial support to 100 of them to start any small-scale businesses of their choice. The financial institution also organised skill acquisition and other capacity building programmes for the beneficiaries. FCMB’s intervention in economic empowerment is seen in its partnership with Wecyclers, an award winning company involved in recycling, on a waste-to-wealth franchise scheme. Through this collaboration, the Bank is helping to tackle the challenge of waste management by deploying an innovative recycling project aimed at job and wealth creation, while promoting health and sanitation. To further deepen the project, FCMB has put in place a monthly reward scheme for top recyclers. The first batch of winners emerged in May, 2017 and have been presented with their prizes. FCMB’s economic empowerment CSR activities have also impacted on youths. The Bank has instituted a capacity building programme for youths, tagged “Empowered for the Future”. The initiative focuses on peer-to-peer economic empowerment, sexual and reproductive health promotion for in- and out-of-school adolescents. It commenced with 50 youths who were trained on various aspects of human development. The beneficiaries are expected to reach out to 750 peers over a one-year period, with focus on financial literacy, skill acquisition, sexual and reproductive health, while undergoing vocational training, job shadowing and knowledge building programmes. Another of FCMB’s expression of real love is its Priceless Gift of Sight programme. The Bank has been sponsoring this project since 2009 in partnership with the Tulsi Chanrai Foundation (TCF), a Nigerian-Indian Non-Governmental Organisation (NGO). The programme involves eye screening tests, full ophthalmic medical examination, eye surgeries, provision of free medication, eye glasses and counselling for those suffering from cataract, an eye defect that could lead to blindness if not promptly treated.  Over 100,000 people across Nigeria have so far benefited from it since the Bank took up the sponsorship 9 years ago. In 2017, FCMB also sponsored 500 eye surgeries in Kebbi, Cross Rivers and Imo states, while more than a thousand people underwent the screening for cataract during the programme. The 2018 programme nationwide is currently being planned. The Bank has previously carried out the programme in Katsina, Adamawa and Ogun states. To FCMB, this is love in action and not just words.

 

 

 

 

 

 

 

 

 

 

 

 

 

Prepare Yourself for the Future Through Savings, FCMB Urges Youths

 

First City Monument Bank (FCMB) has tasked youths in Nigeria to key into the financial system by adopting savings culture and other financial management techniques that would help secure their future. The Bank made the clarion call at an outreach programme it organised for thousands of students in thirty secondary schools spread across the six geo-political zones in Nigeria to commemorate this year’s World Savings Day on October 31, 2017 The highly exciting and educative mentoring sessions, which are in line with FCMB’s Corporate Social Responsibility (CSR) and sustainability philosophy, were anchored by top executives of the Bank at the thirty schools. This is the second consecutive year the lender is carrying out this exercise in partnership with the Bankers’ Committee of the Central Bank of Nigeria (CBN), under the theme, ‘’Learn, Earn, Save’’. Last year, FCMB executed a similar programme in twelve schools nationwide.

The World Savings Day is aimed at teachingand reinforcing the key fundamentals of financial literacy, savings culture as well as entrepreneurial skills in theyouth. This is part of the Bank’s strategic contributions towards securing the future of young Nigerians by encouraging theadoption of savings and other financial management techniques at an early age to enhance their general well-being. Speaking during the mentoring session for students of Holy Child Girls College, Calabar in Cross River State, FCMB’s Manager, Calabar Road branch, Mr. Charles Emefiele, said that imbibing financial principles at an early age will go a long way to help students and young ones manage their resources effectively, appreciate how money works and how it can be channeled to productive ventures now and in the future. ‘’When you regularly put aside a portion of the money you are given or earn in a safe place that pays interest, this is what is known as savings. Saving money from early age guarantees financial independence, prudent management, planning and overall success of individuals and society’’, he explained. Mr. Emefiele further told the students that, ‘’the money saved should be placed in a financial institution for safekeeping and to earn interest on your money. This reduces the risk of spending, theft and gives your money the chance to grow’’.

Also mentoring the students of Government Science School in Lafia, Nasarawa State, the Manager, Lafia branch of FCMB, Mr. Ibrahim Ogah, pointed out that,‘’by being financially literate, students and indeed youths will be able to build capacity for future business endeavours, thereby securing their future and guaranteeing freedom from poverty’’. He advised the students to pass the message to their friends, parents and other family members. Commenting on the significance of FCMB’s involvement in the annual World Savings Day, the Group Head, Corporate Affairs of the Bank, Mr. Diran Olojo, said that it is an extension of its commitment to drive and deepen prudent and effective management of resources among the populace, especially youths. ‘’We want our young ones, who are the hope and future drivers of Nigeria, to understand and appreciate the importance of prudent management of resources and other initiatives that have the capacity to positively impact lives and by extension, the society. This is to ensure their financial security and independence in future’’, he added. Mr. Olojo assured that FCMB will sustain its support to the promotion of financial literacy and inclusion because, ‘’this is one of the most effective ways to build and empower a new community of Nigerians and a robust country through the very important initiative’’.

 Over the years, FCMB has been actively involved in the efforts towards enhancing financial literacy and inclusion among various segments of the population by organising mentoring and capacity building programmes. The Bank has also raised the bar in this direction by donating various items to schools to boost teaching and learning. For instance, in 2016, the FCMB adopted Government Girls Secondary School, Akure in Ondo state and donated a power generating set to the school as part of the Financial Literacy Day. In 2015, the Bank organised a mentoring session for students of Girls College, Dala in Kano state. It used the opportunity of the programme to renovate and equip the school hall as part of measures to provide a conducive environment for the students.  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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