First City Monument Bank Limited has said that holders of its MasterCard, Visa and Verve payment cards are in for seamless service following the full implementation of its recently-introduced technology solution called Finacle 10.
According to a statement by the lender, intending holidaymakers will now have access to over 850 airport lounges around the world with their priority pass card available only to MasterCard cardholders since the cards are acceptable all over the world.
The bank said it had also invested in the acquisition of a robust infrastructure and security to meet its customers’ expectations, while maintaining stakeholders’ trust in the FCMB brand.
The technology, it said, had enhanced its cards’ high approval rate.
“We have a robust product suite for businesses and individuals alongside our award-winning service culture; we are leveraging diverse capabilities by investing extensively in channels to reach more customers,” it noted.
The lender said its customers were currently embracing alternative payment channels at an impressive rate.
The Group Head, Cards and Electronic Banking, FCMB, Mr. John Iwuajoku, was quoted to have said, “We have set our eyes on providing robust products and facilities that meet the demands of today’s innovative environment and complex desires and experience of our teeming customers in order to provide them with flexible options for maximum benefit and excellent long lasting customer experience.”
He added, “This is very important to us. The comfort we are promising our customers with our cards includes increased transaction limit even in the face of other institutions shutting down their international transactions.
“Ours give access to much more than moderate transactions with subsisting exchange rates reflected on transactions executed with all the FCMB cards anywhere in the world.”
According to Iwuajoku, the advent of financial innovation such as smart card, credit card, electronic transfers in the payment system space and the launching of Internet banking have transformed the world into a global village linked by electronic impulses.
The statement said, “Even if an individual is not a customer of the bank, we have re-emphasised that all travellers and holidaymakers can as well cash-in on these opportunities.
“Our cards are issued instantly when an account is opened. The bank also has its pre-paid card in all card types, MasterCard, Visa and Verve (used within Nigeria only) for customers who do not wish to open current or savings accounts with the bank.”
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Zenith Bank Signs MOU With CFA Institute to Develop Finance and Investment Professionals
Zenith Bank Plc has signed a Memorandum of Understanding (MoU) with the Chartered Financial Analyst (CFA) Institute to promote efforts and activities that support the formation, training, and updating of human capital in finance and investment for the overall development of the Nigerian financial services sector.
The MoU, was signed by the Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeagwu; the President/CEO of the CFA Institute, Margaret Franklin; and the President of CFA Society Nigeria, Ibukun Oyedeji on Tuesday, November 28, 2023.
Speaking at the MoU signing ceremony, the Group Managing Director/CEO of Zenith Bank Plc, Dr. Ebenezer Onyeagwu commended the CFA Institute and the CFA Society, Nigeria for their laudable programmes in developing finance and investment professionals in Nigeria.
According to him, your Women in Investment Management Initiative, CFA Institute Research Challenge, CFA Society Nigeria Ethics Challenge and University Affiliation Program are very laudable, and Zenith Bank will continue to partner with the CFA Institute and the CFA Society Nigeria to ensure that young finance and investment professionals get the needed support for their career development.
In his words, “As a good corporate citizen, Zenith Bank remains committed to furthering the economic, cultural and social development of the society. As such, we continue to support projects and initiatives that have long-term social and economic benefits for our various publics and stakeholders. Partnering with the CFA Institute and the CFA Society Nigeria is therefore a demonstration of our commitment to building professional excellence in the finance services industry in Nigeria”.
At the CFA Institute Africa Investment Conference, during the ‘Journey to the Top: A Discourse with CEOs’ segment, Dr. Onyeagwu inspired future finance and investment professionals to uphold the highest standards of integrity.
He stressed the importance of making difficult yet high-quality decisions, building robust networks, and dedicating themselves to hard work for career success.
In his words, “as upcoming professionals, the opportunities are immense for you. Africa doesn’t get bigger than Nigeria. There is scarcity of the right kind of people that have the talent, that have the character and the leadership to provide leadership in organizations. Make a decision to be one of those, make a decision to be different. You must be driven by your passion; you must delay gratification. In Zenith what is driving us is the strive for excellence. It is not about who you are and where you come from. We have the best class of talents you can think of anywhere in the world.”
He assured the young finance and investment professionals that Zenith Bank will offer immediate employment opportunity to CFA Charter Holders and those who qualify as Chartered Accountants.
Also speaking on the MoU, the President/CEO, CFA Institute, Margaret Franklin reiterated the Institute’s commitment to the professional development of students and upcoming professionals.
In her words, “there are many things that we do for students, we invest heavily in students and why is that? Because they are our future. The mission of the CFA Institute is to lead the investment industry with the highest standards of ethics, education and professional excellence for the ultimate benefit of society and that starts with our CFA programme”.
She commended Zenith Bank for its continued support to the CFA Society Nigeria and sponsorship of the CFA Institute Research Challenge over the years.
She also commended the bank for being one of the top employers of CFA members in the country. She expressed her admiration of the culture of excellence in Zenith Bank.
Also speaking at the MoU signing ceremony, the President of CFA Society Nigeria, Ibukun Oyedeji commended Zenith Bank for its partnership with CFA Society Nigeria and its commitment to the development of young finance professionals in the country.
The the CFA Institute Africa Investment Conference is being hosted by the CFA Institute and CFA Societies from Ghana, East Africa, South Africa and Mauritius. The conference has representatives from over 20 universities in Nigeria (members of their investment clubs being supported by CFA Society).
Currency Reforms Pose Challenges and Opportunities for Investment Banking, Says Former AIHN President
The ex-President of the Association of Issuing Houses of Nigeria (AIHN), Ike Chioke, has shared insights on the dual impact of the Central Bank of Nigeria’s currency reforms, highlighting both challenges and opportunities for the investment banking industry.
Chioke made these remarks during the recently held Investment Banking Awards Night in Lagos.
Acknowledging the ongoing currency reforms, he emphasized the transformative nature of these policies, stating, “Nigeria is bracing up to the impacts of the new government and they are already making changes to what I will call non-unorthodox policies.”
He pointed out that the free-floating of the naira and the removal of fuel subsidies, while causing short-term hardships, are integral components of the evolving economic landscape.
Chioke urged industry professionals to leverage their skills and expertise to navigate and capitalize on the opportunities presented by these reforms.
“The investment banking industry is a critical one for the Nigerian economy, and we represent the best brains and the best expertise in that space,” he stated, emphasizing the pivotal role of investment banking in steering the nation’s economic course.
Meanwhile, the Investment Banking Awards Night recognized outstanding achievements in the Debt Capital Market and Equity Capital Markets categories.
Chapel Hill Denham Advisory Limited emerged as the winner in the Debt Capital Market Category, securing accolades such as Private Company Bond House 2022 Award, Best Commercial Paper House 2022 Award, and Best Bond House 2022 Award.
StanbicIBTC Capital Limited received the Best Commercial Paper House 2022 Award.
In the Equity Capital Markets Category, the Equity Deal of 2022 Award was shared among three distinguished companies: Stanbic IBTC Capital Limited, UCML Capital, and Rand Merchant Bank, underscoring their impactful contributions to the equity market.
This celebration of excellence reflects the resilience and dynamism of the Nigerian investment banking sector amid a changing economic landscape.
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