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Standard Chartered Bank to Open 10 New Branches

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Standard Chartered Bank has opened the first of 10 new branches it plans to establish in Lagos state.

The first of the proposed branches was opened at the Lagos’ Circle Mall, along Lekki/Epe Expressway.

A statement explained that the branch compliments the bank’s ongoing investment into digital infrastructure, while aligning with its focus on rapidly expanding cities across its global footprint in Africa, Asia and the Middle East.

Through its recently launched ‘Here for Africa’ campaign, Standard Chartered recently reiterated its commitment to the continent and will continue to invest in its regional strategy, with Nigeria as a key focus for expansion.

One of the eight fastest-growing cities in Africa, Lagos generates 25 per cent of Nigeria’s total gross domestic product

The CEO of Retail Banking, Karen Fawcett, opened the new branch with Regional CEO for Nigeria, Cameroon and Cote d’Ivoire, Mrs. Bola Adesola and the bank’s Head of Retail Banking for Nigeria, Ebehijie Momoh.

Commenting on the new branch, Adesola said: “Our Retail Banking business in Nigeria has been growing from strength to strength, with income increasing 12 per cent year-on-year in 2015. Thanks to the support from government and the Nigerian people, we will continue to invest in our capabilities to deliver increasingly efficient, cost effective and accessible banking for all our clients. With 10 more branches, we aim to extend the reach and accessibility of banking, while freeing up our clients’ time to focus on their personal priorities.”

The World Economic Forum cites Lagos as the fastest-growing city in the world, expanding at a rate of 85 people per hour. By 2050, Lagos’ population is expected to double, which will make it the third largest city in the world.

On his part, Fawcett said: “We’re very excited about the opportunities in Nigeria and the Africa region. So we’re investing here to bring the best in banking through digital channels, as well as giving clients the choice of coming to a branch when they want advice and a more personal touch.”

Standard Chartered has recently launched new mobile and online banking platforms in eight markets across Africa, including Nigeria, bringing cutting-edge digital channels to one million clients in the region.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

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Cadbury Nigeria Recognised For Human Resource Management

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Cadbury Nigeria Plc announced that it had been recognised as a top employer by the Netherlands-based Top Employers Institute, even as it stressed the importance of employee well-being.

Cadbury Nigeria, a subsidiary of Mondelēz International, made the announcement in a statement released on Wednesday as part of the celebration of its third annual purpose day.

The consumer goods manufacturer said it held a webinar for its employees anchored by experts in healthcare management.

The Managing Director, Cadbury Nigeria, Mrs. Oyeyimika Adeboye, said the company takes the well-being of its employees seriously, adding that they would give their best if they had the right mental attitude.

“That is the reason we organised the webinar by bringing in experts from Helen Keller International to speak to us on well-being, as part of our Purpose Day,” she said.

Adeboye added that the growing importance of holistic well-being made the company focus its annual Purpose Day activities this year exclusively on well-being in the areas of mind, body and connection.

The Country Director, Helen Keller International, Ms. Philomena Orji, was quoted as saying during her presentation, “Helen Keller is dedicated to scaling up evidence-based, cost-effective solutions to improve care practices and ensure that basic health interventions reach vulnerable people, with a focus on women, youth, and children.”

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CSCS Reappoints Haruna Jalo-Waziri As CEO

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The board of the Central Securities Clearing System has approved the re-appointment of the Chief Executive Officer, Mr. Haruna Jalo-Waziri, for another five-year term.

CSCS disclosed this in a statement on Tuesday, saying the company had seen a major boost in its revenue base and had also built strong strategic alliances with other financial market entities across Africa during Jalo-Waziri’s tenure.

It said Jalo-Waziri led the company’s profit growth by 18 percent compound annual growth rate and delivered a 20 percent return on average equity in the 2020 financial year amidst the pandemic.

The Chairman, CSCS, Mr. Oscar Onyema, said the board was impressed with the CEO’s performance and that the foundation built by the team had positioned the firm for its next growth phase.

Onyema said, “That is why we are aiming to consolidate on our gains and diversify the business for sustainable growth.

“On behalf of the board, I congratulate Mr. Jalo-Waziri on this reappointment, which reflects our vote of confidence and greater expectations from him in creating value for shareholders and broader stakeholders of CSCS.”

Jalo-Waziri appreciated the board for the reappointment.

“I am tremendously proud of the talent pool we have built here at CSCS. As we set out to diligently execute our next growth strategy, I am super excited at the future of this great institution and look forward to deepening our partnership with different stakeholders for mutual prosperity,” he said.

He added that he would continue to count on the support of the Securities and Exchange Commission, the board, participants and other stakeholders in deepening the Nigerian capital market.

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Company News

BOC Gases Nigeria Plc Rebrands to Industrial and Medical Gases Nigeria Plc Following Acquisition

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BOC Gases Nigeria Plc, Nigeria’s leading manufacturer of industrial and medical gases, has changed its name to Industrial and Medical Gases Nigeria Plc following an additional 60 percent acquisition by TY Holdings Limited in August.

TY Holdings Limited acquired a 60 percent stake owned by BOC Holdings UK to take its total stake in the company to 72 percent.

The company disclosed in a statement signed by Ayodeji Oseni, the Company’s Managing Director.

The statement reads, “The change of name is sequel to the purchase of 60% of BOC Gases Nigeria Plc, which was formerly controlled by BOC Holdings UK (a member of the Linde Group) by TY Holdings Limited. This has also resulted in the change of the Company’s logo and trademark.

“The Company has obtained a new certificate of incorporation from the Corporate Affairs Commission.”

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