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Enabling Dreams With First Bank ‘December is A VYBE’

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First Bank

One of the most fascinating quotes of popular British business magnate and author, Sir Richard Brandson is that “A great business is simply an idea to make other people’s lives better.” This vital nugget aligns with a global view that a critical element of successful brands is the ability to beyond functional products benefits become a visible partner in customers lives, enabling them live better and happier, aim higher and achieve their dreams.

For businesses, this means seeing beyond financial gains into becoming a true ally and partner who make life worth living. This is a core hallmark of the few enduring global brands and FirstBank appears focused on towing the path.

Beyond business promotion and marketing engagements solely for commercial value, the premier bank in its 127th year is assisting Nigerians to live happier and create awesome memories of good time with cherished ones through some cool initiatives.

Globally, December heralds the holiday season during which people love to celebrate, unwind and relax with loved ones. Though checkered by Covid-19 disruptions in 2020, FirstBank is giving a new expression and meaning to ‘December in Nigeria’ with the high-octane and life enriching #FirstBankIssaVybe, #DecemberIssaVybe campaign.

The campaign which started in 2018 is already generating ripples across the cities with Nigerians across ages anticipating the new trick FirstBank will pull out from the hat this year.

Through the annual FirstBankIssaVybe campaign, FirstBank sponsors of an array of the hottest and coolest entertainment platforms across music, fashion and arts during the month of December, with massive ticket giveaways to premium events.

The goal is to create enthralling and memorable experience for customers in the Yuletide season as they bond with family and friends, whilst connecting with their favourite superstars.

Commenting with much enthusiasm on the year-end campaign, global head marketing and corporate communication of FirstBank, Folake Ani-Mumuney says it’s simply FirstBank creating a ‘Wow December to Remember’ experience for all as a bank for all generations.

For her, #FirstBankIssaVybe offers a variety performance; FirstBank is not just considering financial well-being but also the entire well-being for customers. That is why it is enabling opportunities for families to come together to celebrate and enjoy premium concerts, plays, fashion and food, and gave out over 500 mostly VIP tickets per campaign, which cost from N15,000 to N50,000.

“We are delighted with our achievements and consider the yuletide a good way of identifying with our customers and appreciating their support. We want them to have the best of fun through this period. Through different expressions, we strive to support our heritage; the value systems we believe in and create opportunities for families to bond across generations.

“The carefully curated experiences speak to our ethos, what we believe in and what Nigerians would appreciate. We do not just concentrate like some other brands on specific areas, or just one name; we are true enablers across the raft, and offered variety.  We also use the opportunity to further deepen support for arts and job creation.

“We also spread the program across the nation with sponsorship of Igue Festival in Edo State, and Calabar Carnival in Cross River State. With our partners, #DecemberIssaVybe, we curate across the country as a whole. We supported Waka the Musical in 2017 which was also taken to Abuja in 2018,” she noted.

Meanwhile, the campaign has seen customers treated to fantastic experience in previous editions and many are looking forward to the 2021 edition. From the exciting Alternative Sound 4.0, held at Terra Culture on 5 December, 2019 to the memorable Cardi B live in Lagos by Livespot Concert on 7 December 2019 and the unforgettable “An Evening with FBNHoldings” held on 13 December, 2019 to the pleasure overload of Island Block Party at Oniru Lagos on 14 December, lucky customers and followers of the Bank’s social media handles were given free tickets to have loads of fun!

Also, in the bouquet of fun extravaganza was Teni – The Billionaire Experience musical concert held at Eko Hotel on Monday, 16 December 2019 which had many customers thrilled to the finest of tunes by the Billionaire crooner and other guest artistes present.  The annual Nativeland music festival at Muri Okunola Park was another event for the yuletide which has since its inauguration in 2016, had top class performances by A-lists artistes.

Youth and teenage fashion lovers were not left out; as with Street Souk, they had a feel of current trends and creativity in the fashion industry. The event held on 18 December 2019. Keen on getting exposed to the best and latest designs, wears and fabrics in fashion, then the African Fashion Week Nigeria was another port of call. The event which held 20 – 21 December, 2019 attracted leading players in the fashion industry and deepened the fashion appetite and interest of participants.

Building into Christmas was Flytime Rhythm Unplugged, starting on 20 December at the Eko Hotel and Suites. The 5-day music festival event had performances of leading and top artistes in the country. Olamide, Burna Boy, Tiwa Savage, MI, Ycee, Patoranking, Mayorkun, Teni, Zlatan, Joeboy, Fireboy, B Red, Tolani, Jeff Akoh, Oluwadamilola thrilled fun lovers to the best of tunes topping charts not just in Nigeria but the continent. On the wheels of steel was DJ Neptune, DJ Consequence, DJ Obi, and DJ Cuppy.

Kizz Daniel’s Toro concert on 26 December 2019 and Tu Face’s musical show on 28 December built up to the wrap-up of the list of December events with Future, the American trap music sensation scheduled to perform live in Lagos. The Future Live in Concert held 29 December 2019 at the Eko hotel. The 80s boy band, New Edition performance at the FlyTime Music Festival in Lagos was also electrifying with Burna Boy Live, Davido Live and many more in action!

For plays, the campaign has featured sponsorships of Moremi and Oba Eshugbayi play which focused on highlighted history of Lagos: the struggle over water tax imposed by the British on the people of Lagos and the expulsion of Oba Esugbayi, who stood against the tax, to Abeokuta. The play was from the stable of Joseph Edgar of the iconic Duke of Shomolu Production.

Two lucky fans, Tina Ediale and Timilehin Anibaba, amongst others got to see their favourite star Davido Live in Concert; another winner, Azeez Animashaun couldn’t believe his luck when he got a VIP Rhythm Unplugged ticket while some got special treat watching ace actress Omotola Jalade Ekeinde as Esumirin in Moremi The Musical.

Some social media followers also scored invitation to parties including Island Block Party, All Black Everything; conferences Golas Grit Grind 2.0; festivals: Native Land, Plamwine Festival; and pop up sales: Mente de Moda.

The FirstBank #DecemberIssaVybe and #FirstBankIssaVybe giveaway fest is again set to reward old, new and potential customers with tickets to premium events around Lagos.

And Yes, we know you want to attend these events and yes you can. Just follow FirstBank on any of its social media pages – Facebook: First Bank of Nigeria Limited, Instagram: @firstbanknigeria, and Twitter: @firstbankngr – look out for the posts announcing the giveaway and follow instructions to experience maximum party #vybes this season.

 

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Banking Sector

Access Holdings Plc Grants 23.81 Million Shares to Directors, Valued at N420 Million

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Access bank

Access Holdings Plc, a leading financial institution, has recently vested approximately 23.81 million shares valued at over N420 million to its directors.

The share vesting process, a common practice in corporate governance, allows employees, investors, or co-founders to gradually receive full ownership rights to shares or stock options over a specified period.

In this instance, Access Holdings Plc has chosen to reward its directors with shares, signifying confidence in their leadership and contributions to the company’s growth trajectory.

Among the beneficiaries of this share allocation are key figures within Access Bank, a subsidiary of Access Holdings Plc, as well as the acting Group Chief Executive Officer (GCEO).

Recipients include Sunday Okwochi, the company secretary, who received 1.2 million shares at N17.95 per share, and Hadiza Ambursa, a director of Access Bank, who was allocated 1.72 million shares at the same price.

Other directors, such as Gregory Jobome, Chizoma Okoli, Iyabo Soji-Okusanya, Seyi Kumapayi, and Roosevelt Ogbonna, also received allocations ranging from 1.234 million to 12.345 million shares, each valued between N17.85 and N17.95 per share.

Bolaji Agbede, the acting Group CEO of Access Holdings, was granted 2.216 million shares at N17.95 per share, further solidifying his stake in the company’s success.

This move by Access Holdings Plc comes amidst a dynamic economic landscape, where organizations are strategically positioning themselves to navigate challenges and capitalize on emerging opportunities.

By incentivizing its directors through share vesting, the company aims to foster a sense of ownership and accountability while motivating top talent to drive innovation and sustainable growth.

The share vesting scheme not only rewards directors for their past contributions but also incentivizes them to remain committed to the company’s long-term vision.

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Banking Sector

Central Bank of Nigeria Mandates Cybersecurity Levy on Transactions

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Central Bank of Nigeria (CBN)

In a bid to bolster cybersecurity measures within the financial sector, the Central Bank of Nigeria (CBN) has issued a directive mandating banks and financial institutions to implement a cybersecurity levy on transactions.

The circular, released on Monday, outlines the commencement of this levy within two weeks from the date of issuance.

According to the circular, all commercial, merchant, non-interest, and payment service banks, as well as other financial institutions, mobile money operators, and payment service providers, are instructed to enforce this cybersecurity levy.

The directive is a follow-up to previous communications dated June 25, 2018, and October 5, 2018, emphasizing compliance with the Cybercrimes (Prohibition, Prevention, Etc.) Act 2015.

The levy is to be applied at the point of electronic transfer origination and subsequently deducted by the financial institution.

This deducted amount will then be remitted to the designated Nigerian Cybersecurity Fund (NCF) account domiciled at the CBN. Customers will see a deduction reflected in their account statement with the narration, ‘Cybersecurity Levy’.

Exemptions from this levy include certain transactions such as loan disbursements and repayments, salary payments, and intra-bank transfers among others.

The CBN aims to streamline and fortify cybersecurity efforts across the financial sector through the implementation of this levy.

This move by the CBN aligns with recent efforts to enhance regulatory oversight and mitigate risks within the financial ecosystem.

It follows closely after directives barring fintechs from onboarding new customers and warnings against engaging in cryptocurrency transactions.

Also, the Federal Government’s directive for the deduction of stamp duty charges on mortgaged-backed loans and bonds demonstrates a broader push for fiscal transparency and regulatory compliance.

The introduction of the cybersecurity levy underscores the CBN’s commitment to safeguarding digital transactions and ensuring the integrity of Nigeria’s financial infrastructure amidst evolving cyber threats.

As financial institutions gear up for implementation, the levy is poised to play a pivotal role in fortifying the nation’s cybersecurity resilience in an increasingly digitized landscape.

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Banking Sector

GTCO Plc’s Profit Before Tax Grows by 587.5% to N509.35 Billion in Q1, 2024

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GTCO Commemorates Listing on Nigerian Exchange - Investors King

Guaranty Trust Holding Company (GTCO) Plc, one of Nigeria’s leading financial institutions, has unveiled its first quarter (Q1) financial results for the period ending March 31, 2024.

According to the report submitted to the Nigerian Stock Exchange (NGX), GTCO recorded a 587.5% growth in profit before tax (PBT) to N509.35 billion.

This substantial increase in pre-tax profit represents a significant jump from the N74.089 billion reported in the corresponding period of the previous year.

The financial statement also revealed a 227.93% rise in income tax to N52.213 billion, compared to N15.922 billion in the same period of 2023.

As a result, GTCO’s profit after tax (PAT) for the first quarter of 2024 rose to N457.134 billion, an exceptional growth of 685.9% from N58.167 billion recorded in the first quarter of the previous year.

The strong performance of GTCO can be attributed to several key factors. The Group’s loan book increased by 21.9% rising from N2.48 trillion recorded in December 2023 to N3.02 trillion by March 2024.

Similarly, deposit liabilities grew by 26.0% from N7.55 trillion in December 2023 to N9.51 trillion in March 2024.

Despite the challenging economic environment, GTCO’s balance sheet remained well-structured, diversified, and resilient.

Total assets closed at an impressive N13.0 trillion while shareholders’ funds stood solid at N2.0 trillion.

Commenting on the outstanding financial results, Mr. Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, expressed optimism about the future.

He said the robust performance across all business verticals reaffirmed the value of the Holding Company Structure.

“Our first quarter results reflect the unfolding value of what we have created in all our business verticals through the Holding Company Structure – from Banking and Payments to Funds Management and Pension,” said Mr. Agbaje.

“We are positioned to compete effectively on all fronts and fulfill all our customers’ needs under a unified, thriving financial ecosystem.”

The growth in profitability underscores GTCO’s resilience, strategic focus, and unwavering commitment to delivering superior value to its stakeholders amidst evolving market dynamics.

As the Group continues to leverage its strengths and innovative capabilities, it remains well-positioned to navigate the ever-changing landscape of the financial services industry with confidence and resilience.

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