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FCMB Commits to Economic Development and Tourism on 2019 Ojude Oba Festival

: First City Monument Bank (FCMB) has congratulated the Awujale and Paramount Ruler of Ijebuland, Oba (Dr.) Sikiru Kayode Adetona, chiefs, age groups, all indigenes, friends and well-wishers of Ijebuland on this year’s Ojude Oba Festival scheduled to hold in Ijebu-Ode, Ogun State on August 13, 2019.

The Ojude Oba, (which in Ijebu dialect means, “the king’s forecourt 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 of Ijebuland to pay homage to him amidst prayers and other fun-filled activities.

At a press conference on July 29 at Ijebu-Ode to announce the kick-off of this year’s edition, the Bank reiterated its commitment to support activities that promote and add value to Nigeria’s culture and heritage which are also capable of boosting tourism, trade and the hospitality sector. The lender added that its participation will as usual be grand, exciting and rewarding for the thousands of people within and outside the country that would grace the fiesta.

In a goodwill message to the Awujale of Ijebuland, Oba (Dr.) Adetona, the Founder of FCMB Group, who is also the Olori Omo-Oba Akile Ijebu, Otunba (Dr) Olasubomi Balogun, CON, expressed his gratitude to the paramount ruler for his selflessness, distinguished and exemplary leadership for the 59 years he has been the paramount ruler of Ijebuland, which makes him one of the longest reigning monarchs in Nigeria.

In the message delivered on his behalf by the Group Head, Corporate Affairs of the Bank, Mr. Diran Olojo, Otunba Balogun said, ‘’as your children and subjects, the period provides us the platform, and the opportunity to pay you homage in demonstration of our affection for a very special and exceptional Father.As our Paramount Ruler who has continued to endear himself to us, his people and who by divine grace, renews his strength annually, in unison, all Ijebus  say, “Kabiyesi k’ade pe l’ori, Ki bata pe l’ese.  We pray your reign will continue to bring joy, inspire prosperity and engender togetherness in abundance to all of us, your children, the entire Ijebu race, at home and in the Diaspora”. I cannot but sing our famous song, “O ye ka dupe, O ye ka dupe, Ara san, Ategun fe, Iji ja, ko gbe wa lo, O ye ka dupe’’, he stated.

He stressed that, ‘’being the Olori Ebi (the head of the family, by the grace of Almighty God), and as your Olori Omo-Oba (the head of princes and princesses), I will continue to lead the way in showing our appreciation to you.  As you extend yourself to our people’s different requests and yearnings, I wish to reiterate that the annual paying of homage, should not be the only occasion we should show our appreciation. This is because you have consistently earned our affection and our adulation, Kabiyesi’’.

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 stated that, ‘’the Ojude Oba Festival is a rallying point to promote the sustainable growth and development of our community. We recognise that celebrating our heritage is an important part of our national identity, a means of educating visitors and future generations about our history and an opportunity to measure our growth, development and sustainability. Hence, for us at FCMB, the Ojude Oba Festival is not just another event. It is a pride to us; being a major platform through which we reaffirm our commitment to the community and promote our nation’s cultural diversity. We will continue to support all activities of the State with focus on the economic and social development. We are committed to the longevity of the Ojude Oba Festival and are proud to be associated with its grandeur’’.

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.

FCMB: Focusing on Specifics to Extend the Frontiers of Financial Services

Over the years, the financial services industry in Nigeria has undergone various forms of transformation in terms of operations, service delivery and other indices of performance. Increased sophistication in the lifestyle of people, changing tastes, demanding schedules, technological savviness, amongst other modern trends, have seen operators in the sector constantly reinventing the wheel to meet and satisfy the needs of the ever-dynamic environment as well as the populace. These days, the assessment of financial institutions, particularly Banks, is largely measured by their level of connection with their stakeholders and the customer-centric solutions they offer. This fact was succinctly captured by Roy Spence, co-founder of GSD&M, a leading advertising firm in the United States, who declared that, ‘’every business needs to be in the business of improving customers’ lives” For FCMB Group Plc, a foremost holding company in Nigeria, its nine subsidiaries which are leaders in their respective segments, this declaration underlies the philosophy; serving as a roadmap in the firms’ drive to attain the highest levels of customer advocacy as well as experience. This is while also adding significant value to stakeholders. The operating companies of FCMB Group, with Mr. Ladi Balogun as the Group Chief Executive, are divided along three business groups – Commercial and Retail Banking (First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited and FCMB Microfinance Bank Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited); and Asset & Wealth Management (FCMB Pensions Limited, First City Asset Management Limited and CSL Trustees Limited).

Having witnessed low and high moments in its many years of operation, the Group has continuously turned challenges to opportunities over the years to emerge as one of the leading institutions in corporate Nigeria. This underpins the resilience, endurance, robustness and viability of the brand to sustainably deliver exceptional financial services to individuals, groups and organisations across segments. Indeed, the performance of FCMB has been on the uptick. And there is no gainsaying the fact FCMB has proved its mettle as an inclusive lender by being a big player in all sectors of the Nigerian economy. The enduring establishments are transferring prosperity by impacting on businesses and individual aspirations The Group successfully acquired Legacy Pension Managers Limited (now known as FCMB Pensions Limited) by increasing its stake in the company from 28.3% to 91.6%. The development is engendering sustainable and diversified low-risk growth momentum as the pensions firm is leveraging FCMB’s extensive distribution network, alternate channels, digital innovation and investment research to rapidly expand its customer base. Speaking on the acquisition, Chairman of the Board of FCMB Pensions Limited and the Group Chief Executive of FCMB Group Plc, Mr. Ladi Balogun said, “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. We have now harmonised the brand. This will enable us create greater marketing synergies alongside other initiatives and accelerate the growth of our pensions business. The change of the company’s name will also entrench a single brand identity across our pensions and retail banking businesses”.

Meanwhile the financial results of FCMB Group for the nine months ended September 2018 showed a significant increase in profit before tax to N14.77 billion, as against N6.84 billion recorded for the same period in 2017. Also, gross revenue rose by 11% to N132.9 billion from N118.8 billion. Net interest income witnessed a 7% Year-on-Year (YoY) upsurge from N49.9billion to N53.2 billion, just as non-interest income grew by 77% (YoY) to N33.0 billion from N18.6 billion for the same period in the previous year. Customer confidence in FCMB Group remained strong, as deposits were up 5% Quarter-on Quarter (QoQ) to N756 billion in September 2018, compared to N721.3 billion as the end of June 2018. In addition, the nine months financial results saw a surge in Loans and advances by 3% QoQ to N601.9 billion in September 2018 as against N586.0 billion in June 2018, which is an indication of the Group’s aggressive focus on financial intermediation and support for economic growth of the public and private sectors. The impact of the subsidiaries on the overall performance of FCMB Group has been profound as evidenced by their solid performance. First City Monument Bank (FCMB), the retail and commercial banking-led subsidiary of FCMB Group Plc, has consolidated its position as a dominant brand by growing in leaps and bounds. The Bank has continued to boost its customers acquisition drive in the retail segment of the Banking industry. It has also sustained the tempo of becoming a more convenient and accessible Bank in alternate channels, with more than 800 Automated Teller Machines (ATMs) spread across Nigeria as at the end of 2018 and over 15,000 Point of Sale (PoS) terminals deployed nationwide, while on-boarding almost 2 million customers on its electronic banking platforms. Added to these, is the strategic location of the Bank’s business outlets (branches and alternate channels) nationwide; providing prompt and convenient banking solutions as well as promoting financial inclusion in line with its values as a simple, reliable and helpful entity. So far, FCMB has 216 branches and cash centres in Nigeria the Bank has sustained the empowerment of customers through its reward scheme tagged, ‘’FCMB Millionaire Promo’’. Almost 50,000 customers have benefitted from the promo by winning cars, cash rewards of between N1 million and N2 million as well as gifts like television sets, power generating sets and phones, among others.

In business banking, Small and Medium Scale Enterprises (SMEs), FCMB recorded a significant improvement in net revenue as at the end of 2018.  FCMB offers several cutting-edge products, services and solutions to meet and satisfy the needs of businesses in this segment. The lender has recently disbursed over N3.17billion to SMEs across the country under the Central Bank of Nigeria (CBN) intervention programme.  The Bank also offers free banking transactions for a period of three months to new to FCMB SME customers as well as free training and other capacity training programmes for businesses operating in this segment in partnership with private and public sector organisations, including the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN). Plans are also underway by FCMB to launch a proposition that offers zero-interest rate on loans to women-owned SMEs. Between June and October last year, the lender organised a promotion tagged, ‘’FCMB SME Race to China Promo’’ for customers. Three winners of the star prize of an all-expense paid trip (return flight ticket to Guangzhou, China and hotel accommodation for 7 nights), 8 winners of $500 preloaded shopping cards and 36 winners of consolation gifts have emerged and have been rewarded.

In agribusiness, FCMB recently signed a Memorandum of Understanding with the World Savings and Retail Banking Institute (WSBI) in a move that would substantially increase the Bank’s support to agribusiness, its value chain and overall growth of the Nigerian economy. The memorandum outlines a framework to deepen agency banking, financial inclusion and savings culture in the informal and agribusiness sectors.  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, it is understood, FCMB is deploying its state-of-the art technology and mobilising banking solutions to drive the project mainly in the rural and sub-urban farm settlements where most farmers are based. The bank is organising capacity-building programmes for farmers, aimed at facilitating their understanding of the sector and promoting innovative ideas to make the sector more attractive, thereby facilitating job creation and in turn, impacting on productivity and income generation with regards to corporate banking business, the renewed liability and transaction driven approach of FCMB has seen the lender fund several projects aimed at growing the Nigerian economy. In the oil and gas sector, the Bank was the major financier of the 300 million litres tank farm of Petrolex Oil and Gas Limited, located at Ibefun town in Ogun state, which was commissioned in December 2017. The lender also provided the funds for the construction of the 66,000 metric tonnes capacity petroleum products tank farm of Menj Oil Limited in Ijegun, Lagos.  Moreover, FCMB wholly financed the construction of the new 155-room Radisson Blu Hotel at Ikeja GRA in Lagos. The Radisson Blu Hotel in Lagos, which is the third in Nigeria and second in Lagos, was opened in 2018. Speaking on these developments and the outlook for the year 2019, the Managing Director of FCMB, Mr. Adam Nuru says, the Bank has a great foundation to continue to build on and being confident of its strategy, will achieve the necessary resilience.

‘’We know we will need constant change, innovation capability and high productivity to thrive in a progressively fierce competitive environment. Based on this, we have a renewed strong commitment to our digital transformation journey with aggressive investments in putting the right structures in place. This is expected to facilitate efficiency in our operations and fuel our efforts to create the right momentum; expand our share of the market and increase our wallet-share of existing customers. We will leverage our digital capabilities to reduce our cost-to-serve; grow non-interest income; and improve our agility as a bank to deepen intimacy with our customers’’, he stated with this outstanding moves and achievements, coupled with the Bank’s niche for excellence and a clear understanding of its market and the environment, analysts are of the view that the FCMB brand is well positioned to create more value for its growing customer base and other stakeholders in Nigeria.


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 Rewards 2,576 Customers with Millions, Gifts in Millionaire Promo Season 5

A total of 2,576 customers of First City Monument Bank (FCMB) have won millions and various gifts at the end of the Bank’s reward scheme tagged ‘’FCMB Millionaire Promo Season 5’’. The promo, designed to reward and empower customers, ran from March to October this year with four regional and zonal draws, including the grand finale, on November 28, 2018.

Of the 2,576 winners, 16 lucky customers won cash ranging from N1million to N2million, while the remaining 2,560 were rewarded with LED televisions, generating sets, decoders, tablets and smart phones. At the grand finale draws of the ‘’FCMB Millionaire Promo Season 5’’ on November 28, four customers smiled home with N2million each, just as 640 others received gift items. The promo which targeted all existing savings account customers of FCMB with monthly account balance ranging from N10,000.00 to N50,000.00, was designed to give extra value and empowerment to customers of the Bank, while encouraging financial inclusion and savings culture.

Idi Awawu emerged winner of the star prize of N2million at the Abuja & North regional draw in Abuja, while Simeon Olanrewaju got the same amount at the Lagos Regional Draws held in Otta, a town between Lagos and Ogun state. In the same vein, Obioma Uzonwunne was the lucky winner of N2million at the South-East & South-South Regional draws in Asaba, Delta state and Ajani Mayowa won the same amount at the South-West Regional draws in Akure, Ondo state.

Speaking on the development, the winners expressed gratitude to FCMB for creating opportunities to reward and empower customers through the Millionaire Promo In his comment, a Director of the Consumer Protection Council, Mr. Dauda Waja, hailed the Bank for conducting the exercise with integrity and transparency. He said that FCMB followed due process from the beginning of the promo in March till the emergence of the various winners.

Speaking on the promo, the Executive Director, Retail Banking of FCMB, Mr. Olu Akanmu, said with the grand finale of the draws held nationwide, the Bank has fulfilled the promise it made to customers to reward those who participated and qualified for the promo and participated in the four draws organised during the exercise. “We are encouraged by the huge excitement and participation the Millionaire Promo has continued to receive. Beyond the various prizes won by winners, the fact the promo has provided us with an opportunity to encourage an enduring savings culture, financial inclusion and the empowerment of our customers is very exciting. We therefore urge members of the public who do not currently have a banking relationship with us to come on board to benefit from the various cutting-edge opportunities that are on offer by the Bank’’, he added.

Mr. Akanmu encouraged the lucky customers, particularly the star prize winners, to make wise use of their prizes, assuring, ‘’you can invest meaningfully and we are ready to offer you free advice if you so wish’’.

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.

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 Celebrates Customer Service Week with Value-Added Activities

In line with its ‘customer-first’ approach to service delivery, First City Monument Bank (FCMB) has rolled-out series of exciting and rewarding activities to further enhance customer experience during the celebration of this year’s international Customer Service Week from October 1 to 5, 2018, with the theme, “Excellence Happens Here”. The theme recognizes that, ‘’space where customers and service professionals come together; from the call center to the executive suite, from the loading dock to the home office, from behind the wheel to the front of a monitor. Where service happens is where Excellence Happens’’.

The Customer Service Week, which started 34 years ago, is a unique period when service organizations and global agencies extol the patronage and loyalty of their esteemed customers by introducing several unique and special activities to appreciate them. It is celebrated annually during the first full week in October and has grown into a global event, in which FCMB has always been involved over the years. In a statement, FCMB said the celebration of this year’s Customer Service Week promises to be a memorable one going by the number of activities it has lined up for her numerous customers. These includes, visit to some customers by the management of the Bank. In addition, the senior management members of the institution would serve as service advisors, teller and customer service officers in select branches of the lender nationwide, just as customers will have the opportunity to call and have telephone interactions with the Managing Director. FCMB will also visit her young customers (who operate its kiddies account) and whose birthdays fall during the customer service week to present them with gifts.  Moreover, FCMB will host some customers of its youth product, the “Flexx”, to an interactive session and reward staff who have demonstrated outstanding performance in customer service. Goodwill messages will also be sent to customers to appreciate them.

Commenting on the Customer Service Week and while thanking the bank’s customers, the Senior Vice President and Divisional Head Service Management and Technology, Mr. Oluwakayode Adigun noted that FCMB will continue to focus on initiatives that will continually meet the needs and aspirations of her customers, as the bank understands clearly the power of the customers in her business and this is clearly reflected in the entire model for the Digital transformation of the bank which is customer lead. On his part, the Group Head, Service Management of FCMB, Mr. Moshood Adelotan, said: ‘’For us at FCMB, the theme of this year`s celebration is very significant to u, s as our strategic thrust as a bank is to compete using service as a pivot. And this has further been re-affirmed by our recent position in the latest KPMG BICSS where we came 3rd in both the Retail and SME segment from our 5th placed rating last year. We are committed to continually offer our teeming customers across all business segments, top notch customer experience that will clearly stand us out, not just in the financial industry but in the service industry generally, as we believe service us universal. I say a very thank you to our customers for banking with us and we look forward to more patronage as we progress on our service experience journey’’.

FCMB has over the years introduced several initiatives to enhance customer experience. Among these are the strategic growth of its branch network for better accessibility to more people, extended banking hours beyond normal business hours at the branches nationwide, provision of additional alternate channels, such as *329# USSD code, ATMs, PoS, FCMBMobile, FCMBOnline, Quick Recharge and other self-service terminals, increased hours of service at the call centre and introduction of multilingual services, among others. FCMB has in place, a team of highly dedicated and professional staff that go the extra mile to give its customers a sustainable excellent customer experience.  With a clear understanding of its market and the environment, analysts are of the opinion that the FCMB brand is well positioned to create more value for its growing customer base and other stakeholders.





Credit Direct Commissions Ultra-Modern Head Office, Reassures Innovation and Excellent Service Delivery

Credit Direct Limited (CDL), a member of FCMB Group Plc and a market leader in the provision of unsecured consumer loans to individuals in Nigeria, has again raised the standards in customer experience and employees’ engagement by commissioning its state-of-the-art new head office at an impressive ceremony in Lagos on Friday, September 14, 2018. Credit Direct Limited, established over 10 years ago, is a non-bank financial services company with operation in 25 States across Nigeria including the Federal Capital Territory– Abuja. The Company which has a staff strength of over 1,000 employees has given out over 1.5million loans worth over N150 billion since it began operations. With an active customer base of over 200,000 individuals in the public and private sectors, Credit Direct is poised to continue leading the Market with its innovative offerings and excellent customer experience, as attested to by its teeming customers, Speaking at the commissioning ceremony, the Chairman of Credit Direct Limited, Mr. Ladi Balogun, said, ‘’this edifice is another milestone in the history of Credit Direct. It is a reaffirmation of our commitment to raise the bar in the manner in which we operate and the kind of environment in which we provide services. We are excited that within 10 years of the establishment of Credit Direct, the company has added significant value to Nigerians and the country in general’’.

Mr. Balogun, who is also the Group Chief Executive of FCMB Group Plc, assured that FCMB Group will continue to invest in projects and initiatives that would develop entrepreneurship. Also speaking, the Managing Director of Credit Direct Limited, Mr. Akinwande Ademosu, said, ‘’our story changed the face of the financial services sector, the people we are servicing today are those not well served (underserved) and unserved by the conventional financial services sector. We believe so much in the future that has been created – from just giving out loans to giving our customers peace of mind’’.

He added that with its wide national reach, robust financial strength, top of the range proprietary technology and dedicated workforce, Credit Direct has translated its offerings into making real positive impacts on the lives of many Nigerians across different socio-economic strata in line with its vision to be the preferred financial services partner in Nigeria and beyond. As the Company embarks on this new phase of development, its growing variety of innovative products and services are focused on creating exceptional customer experience among its ever-evolving customer base. The pursuit of excellence and commitment to delivering best in class service, even while the firm is domiciled in Nigeria, her product offerings and standard of service delivery are seen to be at par and appealing to any discerning customer as well as investors, anywhere in the world.

The true mettle of Credit Direct Limited was tested during the economic recession of 2015 through 2016 when most companies of its kind suffered bitter losses and, in many cases, had to wind-up. Credit Direct proved its firm and resilient foundations and posted a profit year on year throughout that period. This remarkable achievement underscores the fact that the Company is driven by a team of highly qualified and technically sound Management with more than 75years collective managerial experience backed by a skilful workforce regarded as front-liners in the Financial Services space of today while still attracting the best talent across its operations. Credit Direct Limited has therefore put together the components for sustainable growth and profitability.  The formal inauguration of the new ultra-modern corporate headquarters is another indication of the Company’s resolve to remain the preferred partner in her market space while positioning the company for both local and international growth.


University of Ibadan Names Conference Centre after Otunba Subomi Balogun

The University of Ibadan (UI), Nigeria’s premier tertiary institution, has again honoured the Founder of FCMB Group, Otunba (Dr) Michael Olasubomi Balogun by naming its modern and multi-purpose conference centre after him. In a brief ceremony on Thursday, 6th of September, 2018 the Center will be unveiled and renamed Otunba Subomi Balogun Conference Centre.  According to the University, the decision is in recognition of Otunba Balogun’s numerous and significant contributions to the development of the institution, education and the country over the years. The University of Ibadan, in a letter to the FCMB Founder from the Governing Council and signed by the Registrar and Secretary to the Council, Mrs. Olubunmi Faluyi, said:

’We acknowledge with gratitude, your prayers and goodwill for the continuous progress of the University’’.  The Olori Omo-Oba Akile Ijebu, Otunba (Dr)Michael Olasubomi Balogun is said to be the first Board Chairman of UI Ventures, who brought his business acumen into play to transform the organisation into a full-fledged business group. Today, UI Ventures whose hotel arm has about 110 rooms of quality standard, is into printing, landscaping and horticulture, consulting, bakery products, has a computer training center, petrol station as well as a fast food business, among other interests.

Commenting on the naming of the architectural masterpiece after him, OtunbaBalogun expressed profound gratitude to the University of Ibadan for finding him worthy of the honour. He stated that: ‘’I thank you for appreciating my services and commitment to the University of Ibadan by this recent honour that you bestowed on me. I feel honoured by and I deeply appreciate the long and personal relationship I have had with the University of Ibadan over the years. It is my prayer that the University will continue to retain the position of a primus-inter-pares among the tertiary institutions in Nigeria’’.

Otunba Subomi Balogun, Commander of the Order of the Niger (CON), is the icon of the Nigerian financial industry. He is also a philanthropist par excellence and a distinguished leader who has devoted substantial part of his resources towards the care and service of humanity and the society. His impact on the University of Ibadan and other public as well as private institutions has been acknowledged as legendary. He was alsothe first in Nigeria, through First City Merchant Bank Limited (now First City Monument Bank, a member of FCMB Group), to endow a Professorial Chair in a University when at the University of Ibadan, he set up a Chair for Capital Market Studies in the Department of Economics and Finance.  Otunba Balogun, in 2014 totally donated to the University of Ibadan, the Otunba TunwasePaediatric Hospital (the largest in Nigeria) which he built in Ijebu Ode, Ogun State,a facility worth N4billion in current market evaluation.

Otunba Balogun was the first Nigerian to receive special training in Legal Drafting in Whitehall and the City of London with particular specialisation in financial legislation, instruments and agreements.  He served as a Crown Counsel in both the Ministry of Justice of the then Western Nigeria and subsequently as Assistant Parliamentary Counsel in the Federal Ministry of Justice in Lagos. In 1979, he single-handedly set up the first wholly Nigerian owned merchant bank, entirely conceived and promoted by him and this he christened “First City Merchant Bank Limited”. Under his leadership as Chairman & Chief Executive, First City Merchant Bank Limited (FCMB) in its first twenty years of existence, experienced steady and uninterrupted growth and earned national and international recognition as market leaders in investment banking and capital market services.

Among other national and international awards, in November 1989, the University of Ibadan awarded him the Degree of Doctor of Laws (Honoris Causa) in recognition of his outstanding achievements both in the field of Law and his contributions to the socio-economic development of Nigeria. In January 1994, the President of the Republic of Italy conferred on Otunba Balogun the prestigious honour of “Cavaliere” dell’Ordine “Al Merito della Repubblica Italiana” which means, “Knight of the Order of Merit of the Republic of Italy”. In October 1995, he was installed The Olori Omo-Oba Akile Ijebu by His Royal Majesty, the Awujale of Ijebuland.  Otunba Balogun is an author, a prolific writer and a distinguished opinion leader.  In these capacities, he has contributed remarkably to the formulation of several and impactful economic policies in Nigeria.

The newly named Otunba Subomi Conference Centre has five halls altogether. It can accommodate between 3,000 and 5,000 guests in the main auditorium and up to a total of   7,000 guests in the entire complex. The parking lot that can accommodate about 700 cars is also a major value added. The interior of the conference rooms are tastefully decorated. The Center comes equipped with varied facilities and a high standard of service to complement its relaxed and friendly atmosphere. It offers an extensive range of modern facilities and services. Such facilities include presentation screens, projectors and individual highly sensitive microphones that can be used independently in each of the halls or in all the halls simultaneously.









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