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”.
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 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’’.
FCMB Kicks-off ‘’Millionaire Promo Season 5’’ to Empower and Reward More Customers
First City Monument Bank (FCMB) is set to further empower, reward and enhance the experience of its customers through another bumper reward scheme tagged ‘’FCMB Millionaire Promo Season 5’’. This follows the tremendous impact the previous editions of the promo made in the lives of about twenty thousand customers of the Bank who won various gifts, including cars, cash (ranging from N1 million to N5million), refrigerators, phones, decoders, television and power generating sets. In a statement, FCMB explained that the Millionaire Promo Season 5, which runs from March to October 2018,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. The promo has been designed to provide extra empowerment value to customers of the Bank, reward them for their loyalty over the years, while also encouraging financial inclusion, the establishment of small scale businesses as well as the development of a savings culture.
During the promo, various exciting prizes will be won by qualified customers. While four lucky customers of the Bank will each win the star prize of N2million at the grand finale of the promo scheduled for November this year, 12 others will be rewarded with N1million each at the regional draws that will respectively hold in May, July and September. Other fantastic prizes to be won include 160 units of LED television sets, 160 power generating sets, 640 smart phones, 320 tablets and 800 decoders among other consolatory takeaways. On how to participate in the FCMB Millionaire Promo Season 4, all an existing or a new customer of the Bank needs 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 chances of winning.
To qualify for the grand finale draws, 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. Speaking about the Millionaire Promo Season 5, FCMB’s Executive Director, Retail Banking, Mr. Olu Akanmu, said, ‘’FCMB promo is very credible. The draws in the coming season will still take place in all the zones of the Bank across Nigeria. Winners will be emerging from every region, spread across cities, towns and neigbourhoods all over the country. The strength of the FCMB franchise is very remarkable across Nigeria. This accounts for the millions of customers who are doing their savings and banking transactions with us, daily using all our channels. We will continue to reward our customers for their patronage. They are the reason why we are in business and we are poised to continue to serve them with excellent customer experience’’.
He urged existing and potential customers of the Bank to take advantage of the huge opportunities the promo offers. The FCMB reward scheme has continued to generate wide appeal across the country since it commenced in 2013. Winners, customers, regulatory bodies and other segments of the society have all commended the Bank for sustaining its empowerment support to the populace. In his testimony, Musa Ele, one of the winners of N2million at the grand finale of the Millionaire Promo Season 4, which ran from March to October 2017, expressed gratitude to the financial institution for being a true partner in progress. He stated, ‘’I am very grateful to FCMB for coming-up with this promo, because without it, I would not have the opportunity to win the N2million. I am very grateful to FCMB and I believe the Bank will continue to help many people’’.
First City Monument Bank (FCMB) is a member of FCMB Group Plc, which is one of the leading financial service institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, the Bank has continued to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.
FCMB Certified as a ‘Great Place to Work’
Committed to Human Capital development, First City Monument Bank (FCMB) announced today that it has been certified as a great place to work by the independent analysts at Great Place to Work Institute, a global research firm, which produces the Fortune 100 Best Companies to Work For list and other top employer rankings. Great Place to Work surveys were sent to a random cross section of FCMB employees, and 84% agreed that the Bank is a great workplace, with majority saying they take pride in working for the organization. The certificate was presented to FCMB by GPTW Institute Africa at a ceremony on February 27, 2018 in Lagos.
Commenting on the certification, the Managing Director/Chief Executive of FCMB, Mr. Adam Nuru expressed delight at the recognition. According to him, “our employees are at the heart of FCMB’s mission. Creating an enabling environment where employees can pursue their career goals and thrive, while providing the best customer experience to our customers, and supporting the communities where we operate, have remained key priorities for us’’. Also speaking at the certificate presentation ceremony, the Senior Vice President and Divisional Head, Corporate Services, FCMB, Felicia Obozuwa, added that, “we want our employees to love working here, so we try to create the type of work environment that positively impacts our employees’ personal and professional lives. When looking for a company to work for, we have found that it is not all about salary anymore. People want to know that their work is valued, the opportunities for upward mobility, the training made available to learn new skills, they want to know that you have a strong supportive culture, their work will be challenging, and they will work with supervisors that motivate and inspire them. These are the areas we have focused our attention on over the years’’.
She further stated that, ‘’FCMB employees are the most dedicated, smart and hardworking. So, we support our people by creating an inclusive, respectful, high performance culture, bringing different perspective to bear, and making everyone feel valued’’. GPTW institute is a Global research firm that assess companies, based on a trust index survey (employees’ opinion about the workplace) and culture audit (management policies and practices), with the overall objective to promote excellence in the work place. The Institute operates in 50 countries, including Nigeria.
The certification of FCMB as a Great Place To Work follows an assessment exercise and an independent survey carried out by the Institute last year. The independent analysts looked in-depth at the Bank’s operation and found key strength in many areas. The survey showed that majority of FCMB’s employees took pride in their work and valued its supportive atmosphere, rewards and challenges associated with being part of the organisation. Among other parameters employees of FCMB rated the Bank highly in, include work-life balance, training and development, and celebration of good work. The employee survey responses revealed how well the Bank balances the needs of its diverse workforce, such as career management through a self-service career portal, mentoring programmes, talent development programmes, professional development opportunities, good medical support, employee health week providing nutrition advice, free health checks at branches etc, telephone counselling services for personal issues, and policies/benefits to reduce the financial burden on expectant and nursing mothers, newly married employees, bereaved employees, and children education grants for long serving employees.
On his part, Mr Michael Tosin Oni, a Director at GPTW Nigeria explained that the Certificate was instituted to promote human capital development. He stated that FCMB has distinguished itself by creating a great place to work for employees, measured through our analysis of the results of our Trust Index survey and Culture Audit questionnaire. Through the Trust Index, employees anonymously assess their workplace, including the honesty and quality of communication by managers, degree of support for employees personal and professional lives and the authenticity of relationships with colleagues. While expressing appreciation for the recognition, Felicia Obozuwa stressed that, ‘’getting this certification for 2017/2018 is a step in our journey to build a great workplace culture that attracts and retains talent. Our goal is to make FCMB a truly Great Place to Work for every single employee that puts in their best here’’.
Standard Chartered celebrate Liverpool FC’s 125th anniversary through the power of numbers
To commemorate Liverpool Football Club’s 125th anniversary, Principal Club Sponsor Standard Chartered is today launching a season-long digital campaign which celebrates the power of numbers. The bank will take Liverpool FC fans on a journey to understand the meaning of significant numbers in LFC’s history. This will be told through a series of films as well as a unique 360° audio match-day experience. It will also feature interviews with Reds Manager Jürgen Klopp as well as LFC Legends, current First Team players and fans from around the globe.
Beginning with Number 8, ‘The Captains’, this video will look at the significance of captaincy and how leadership makes a lasting impact, with a specific focus on Steven Gerrard and the impact he had as LFC Captain. Karen Fawcett, CEO, Retail Banking and Group Head of Brand & Marketing at Standard Chartered, said, “Liverpool FC have had some phenomenal players and moments during their 125 year history that have contributed to them becoming one of the most successful English football clubs of all time. This special anniversary is a great opportunity for us to celebrate that success with them.
With the launch of our #8 video, we want to highlight the power of leadership, showcasing how one person can make a positive impact on the people around them, and then go on to achieve success together as a team.”
Billy Hogan, Chief Commercial Officer and Managing Director at Liverpool Football Club, added, “This is a fantastic campaign that uses some really great content. Standard Chartered have really created something our fans will love and won’t have seen before, and we thank the bank for helping us celebrate our 125th birthday in such an exciting and innovative way.”
- #8 The Captains video: https://www.youtube.com/watch?v=URpbQJ4W8bA
- 125 Numbers Campaign trailer: https://www.youtube.com/watch?v=PjwGyu0AtMY
- 125 Numbers Campaign website: sc.com/lfc125
Is Your Strategic Vision Visionary or Boring? By Jeffrey Baumgartner
Probably the most important sentence your company ever puts to paper is your strategic vision statement. It defines your organisation, your goals and the paths you take. A bold, visionary statement is the first step in establishing your firm as a bold, visionary leader. A mediocre statement keeps you on a path of mediocrity, trailing behind the visionary leaders. A lack of any vision leaves it to your customers and employees to assign a mediocre vision statement to your company. And they will.
Whether yours is a global organization or a one-woman business operating out of Poughkeepsie, your strategic vision statement should be but a few words, but those words are vitally important to where your company is going and how it is going to get there. Think about the leading company or two in any field and you probably have a good idea of their strategic visions. Think about Apple, Walmart, Facebook, Versace, Porsche, Victoria’s Secret.
In short, success for your business starts with a strategic vision statement and then flows through communication to your employees, customers, future customers, business partners, other stakeholders and your community.
A vision statement is essentially a moving goal that you aspire to chase after. The moving bit is important. You do not ever want actually to achieve the goal defined in your vision. If your vision is to sell 100 coffee mugs by next Wednesday, you’ll be lost come Thursday. On the other hand if your vision is to create unique, designer coffee mugs in limited batches of 100 which will only be sold for one week, you’ve got something that will keep you busy indefinitely.
Avoid Being Best Like the Plague
Amazingly, in view of the critical importance of a strategic vision statement, a large number of companies either have no defined vision or a vague, meaningless one. The worst thing you can do in crafting a strategic vision statement is to use the word “best” − it is almost certainly an indication of mediocrity and lack of vision. To understand why, the next time you are with a group of friends, ask everyone who makes the best pizza (or any popular food) in your city. The chances are you will get several different answers and a few disagreements. That’s because best is a meaningless word unless precisely defined − and even then it is dubious.
Or, look at it this way, you are visiting a new city and see three pizzerias. One claims to be the best pizzeria. The other makes no claim and the third claims to be a family owned restaurant specialising in novel pizzas made with fresh locally sourced ingredients. Which is likely to get your business?
No company ever became the market leader by being the same as everyone else in the field. Think about it. In order to have a field in which everyone is the same, there had to have been a visionary who defined normal behaviour in that field.
Your strategic vision statement should be unique. It should carve out your niche in the market place and allow you to own that niche. That can be scary. For most organisations, like people, it feels safer to follow the leader than to go off in your own direction. But you will know you have succeeded when you look back and find other companies following your lead.
- Published in Blog
FCMB Restates Commitment to Tourism, Felicitates with Ijebuland on Ojude Oba Festival
First City Monument Bank (FCMB) Limited has reiterated its commitment to support activities that promote and add value to Nigeria’s culture and heritage which are alsocapable of boosting tourism and other non-oil sectorsin line with the Federal government’s ongoing drive to diversify the country’s economy. According to the Bank, this is the rationale behind its decade long support for the annual Ojude Oba Festival, a carnival-like celebration of the traditional, cultural, spiritual, economic and other accomplishments of the people of Ijebuland in Ogun state. Consequently, FCMB has assured its stakeholders that its participation in this year’s Festival, which holds in Ijebu-Ode on September 3, 2017 will be grand, exciting and rewarding for the thousands of people within and outside the country that would grace the fiesta. The Group Head, Corporate Affairs of FCMB, Mr. Diran Olojo, gave the assurance at a press conference held on August 22, 2017 at Ijebu Ode, to kick-off activities for the Festival. FCMB has over the years been a major sponsor of the Ojude Oba Festival and has continued to play a significant role in ensuring its success.
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. 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, songs, tributes and other fun-filled activities. Apart from serving as a distinctive platform to reconnect with the values that sustain the town’s rich history, heritage and industrious uniqueness, the festival also goes a long way to boost business activities, tourism and the general hospitality sector in the area.
In a goodwill message to the Awujale of Ijebuland, Oba (Dr.) Sikiru Adetona, the Group Chief Executive of FCMB Group Plc, Mr. Ladi Balogun, congratulated the monarch, sons and daughters of Ijebuland for promoting the values of the ancient city through the festival and other socio-economic activities. He stated that FCMB is committed to the longevity of the Ojude Oba Festival and the economic prosperity of Ijebuland, just as he urged the people to see the Festival as a fulcrum to inspire individuals and businesses for heightened creativity and increased productivity. According to him, ‘’over the years, the Ojude Oba Festival has grown to become the most popular gathering of the people of Ijebuland and a significant tourist attraction. With her large diaspora population, talented artists and rich cultural diversity, Nigeria is well positioned to reap the opportunities that globalisation presents to showcase her artistry and festivals, whilst bringing increased economic activity to communities that host such, such as Ijebu Ode. As we seek to diversify our economy, tourism and culture represent a low hanging fruit that must not go untapped’’.
In the same vein, the Founder of FCMB Group who is also the the Olori Omo-Oba Akile Ijebu, Otunba (Dr.) Michael Olasubomi Balogun, CON, in a goodwill message to the paramount ruler of Ijebuland expressed his gratitude to the Awujale, especially 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 Mr. Diran Olojo, the Bank’s Head of Corporate Affairs, Otunba Balogun commended Oba Adetona for his distinguished and exemplary leadership over the years. ‘’I for one continue to be proud as your Olori Omo-Oba to lead the way in showing our appreciation by being very close to you and showing unflinching loyalty. Let me thank you and the good Lord, our Maker that you have been unrelenting in showing that you appreciate my regular homage and tribute to you. I can say without fear of anybody gainsaying it that from year to year, on a daily basis, the appreciation of all Ijebus for the way you extend yourself to their different requests and yearnings, is such that the annual paying of homage, is not just the only occasion we would want to be showing our appreciation because you continuously earn our affection and our adulation’’, Otunba Balogun emphasised. while congratulating the entire indigenes of Ijebuland, the FCMB Founder also prayed that the monarch’s reign would continue to bring joy and prosperity in abundance to the entire Ijebu race, at home and in the diaspora.
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.