First City Monument Bank (FCMB) Limited will today (Monday) officially open a new branch in the Asokoro area of Abuja.
The development, according to the bank, is in line with its strategic expansion approach, which aims to extend the bank’s reach and make its operations accessible to more customers across Nigeria.
According to him, “the new Asokoro branch is a strategic addition to our branch network. Though most of our customers prefer to carry out transactions from wherever they are, using our alternate channels such as FCMBMobile, FCMBOnline, USSD Quick Recharge and ATMs spread widely across Nigeria, some customers still prefer human interaction when banking. Thus, for such customers within and around Asokoro, they now have the opportunity to enjoy FCMB’s wide range of financial products and services.”
He further affirmed that, similar to what obtains at all FCMB branches across Nigeria, customers visiting the Asokoro branch can expect excellent customer experience from the bank’s team of service professionals, who are on ground to provide not just the usual traditional banking support, but also assist customers with mobile and internet banking registration.
The branch is also expected to offer numerous self-service options such as cash depositing and withdrawal ATMs, as well as self-service terminals for routine requests and transfers.
On his part, the Divisional Head, Retail Banking at FCMB, Mr. Olu Akanmu, emphasised the bank’s approach of deploying smart branching and technology in order to attain its retail banking growth and profitability goals.
“FCMB’s robust suite of financial solutions and an award-winning service culture are capabilities that allow us to do more for our customers. We continue to invest heavily in technology that empowers our customers to bank on their own terms through alternate channels and allows them to carry out transactions wherever they are.
“We are keen for residents of Asokoro and its environs to enjoy the benefits of these capabilities and look forward to helping them achieve their aspirations. This is consistent with the manner we have supported other customers for more than 30 years as a key player in Nigeria’s financial landscape,” Akanmu added.
IBEDC Disconnects UCH Over N500m Debt, Critical Services Affected
The University College Hospital (UCH) in Ibadan, Oyo State, experienced a disruption in its power supply after the Ibadan Electricity Distribution Company (IBEDC) disconnected the hospital over a debt amounting to N500 million.
Dr. Jesse Otegbayo, the Chief Medical Director of UCH, confirmed the disconnection but refrained from elaborating on the exact cause.
IBEDC’s spokesperson, Busolami Tunwase, acknowledged the outstanding debt owed by UCH but denied that the disconnection was intentional.
Tunwase stated that while UCH owed the substantial amount, the power outage was due to a technical fault in the area, coinciding with the debt situation.
Despite repeated attempts to engage UCH in discussions to settle the debt, IBEDC had resorted to disconnection as a last resort.
The disconnection poses significant challenges to UCH’s critical services, affecting patient care and hospital operations.
While IBEDC emphasized its understanding of the hospital’s importance and commitment to resolving the issue amicably, the situation underscores the financial strains faced by healthcare institutions and the essential need for reliable power supply.
Efforts to negotiate and find a resolution between UCH and IBEDC are ongoing to restore normal operations and ensure uninterrupted healthcare services.
Oil and Gas Dealers Threaten Withdrawal as 70% of Downstream Businesses Collapse
The downstream oil sector in Nigeria faces a looming crisis as oil and gas dealers, represented by the Natural Oil and Gas Suppliers Association of Nigeria (NOGASA), issue a stern warning of potential service withdrawal.
In a recent resolution following their executive committee meeting in Abuja, NOGASA expressed grave concerns over the collapse of approximately 70% of businesses in the industry due to the harsh operating environment.
President of NOGASA, Benneth Korie, highlighted the dire situation, emphasizing the challenges faced by oil marketers in funding operations amidst soaring bank interest rates.
Korie underscored the overwhelming burden faced by operators who are compelled to acquire funds at exorbitant interest rates upwards of 30%, exacerbating financial strain and hindering business viability.
The primary demand voiced by NOGASA is the pegging of the foreign exchange rate at N750/$ to facilitate refinery operations and stimulate the production of refined products domestically.
Failure to address these pressing issues, Korie warned, could result in the withdrawal of services by NOGASA’s over 200 members starting from the next month.
The downstream oil crisis coincides with heightened anticipation for the release of refined petroleum products from the Dangote and Port Harcourt refineries, seen as critical for alleviating supply shortages nationwide.
However, amidst forex crises and inflationary pressures, operators in the oil and gas sector confront mounting economic challenges, necessitating urgent government intervention.
As Nigeria navigates through turbulent economic waters, stakeholders eagerly await decisive action from authorities to salvage the downstream oil sector from imminent collapse and avert potential disruptions in fuel supply chains.
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