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Stanbic IBTC and NFF Sign N2.3 Billion Annual Partnership Deal

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Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has partnered with the Nigerian Football Federation (NFF) to further develop football in Nigeria. The signed MoU between Stanbic IBTC and NFF is slated to be effective from 2022.

Under the agreed terms, Stanbic IBTC will provide Group Life Insurance for all 35 players of the national team with a total sum assured of N1.75 Billion Naira and Total Personal Accident insurance for all 35 players with a total of N583,000,000 annually for the next 3 years. Stanbic IBTC will also provide gender sensitivity support for female sports correspondents in Nigeria.

Dr Demola Sogunle, Chief Executive, Stanbic IBTC Holdings PLC, spoke of the landmark agreement. “Today, you are all witnesses to a landmark event: the consummation of a partnership geared towards driving the growth of football in Nigeria. We are all gathered here to grace this momentous occasion as two great Nigerian institutions come together to advance Nigeria’s most popular sport. With this partnership, we will further drive the development of the youths via football.”

According to Demola, the partnership was based on youth empowerment and football development which he described as values shared by Stanbic IBTC and the Nigerian Football Federation. 

The Stanbic IBTC Chief Executive added: “This is a great day for football development in Nigeria, and we believe this partnership will boost the growth of this beautiful round leather game in the country. Over the years, various Nigerian football teams have made their marks in various international competitions. We believe the Nigerian football teams will only get better and will dominate the beautiful game in the future. Yes, IT CAN BE, as we like to say in Stanbic IBTC, knowing that everything is possible, as long as we put our hearts to it.”

Demola further acknowledged Amaju Pinnick, President of the NFF, in the development of football in Nigeria and the African continent. He congratulated the NFF President on his election into FIFA’s Executive Council and asserted that Nigeria would gain a lot from his membership of football’s highest decision-making organ.

On the partnership with Stanbic IBTC, Amaju Pinnick said “This has been a historic and one of the most unique sports contracts we have had in a long while and we are excited that Stanbic IBTC is driving not just a partnership with the NFF but a sponsorship that also encourages the advancement of the female gender.”

Bukola Olopade, Managing Director Nilayo Sports Management Limited, consultant to the partnership said, “This agreement is the most unique we have signed so far because it directly benefits the players and also contributes to the advancement of the girl child.”

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Banking Sector

Parallex Bank Debuts As Newest Commercial Bank In Nigeria

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Parallex Bank

Parallex Bank, a licenced Microfinance Bank, has successfully transited to a commercial bank after 14 years of operations.

According to the bank’s chairman, Dr. Adeola Phillips, the bank is delving into the commercial banking space, to drive consumer-centric innovation that will propel the banking industry to greater heights.

The bank’s Managing Director, Mr. Olufemi Bakre, who spoke during the launch of the bank’s commercial operations, affirmed that the bank’s promise to its customers is to be an enabler of limitless banking. According to him, the vision of the bank is to be the preferred financial solution provider redefining customer experience through innovation.

The bank revealed its plan to disrupt the market and delight customers with very attractive offers. It noted that most transactions on Parallex mobile app are free but beyond that, customers will have the freedom to do much more with the app.

Parallex bank converted from Parallex Microfinance Bank (a National Microfinance Bank incorporated in 2008 as a Unit MFB) to a commercial bank duly licensed by the Central Bank of Nigeria to carry out commercial banking services. This is a first-of-its-kind achievement in the Nigerian banking space.

The bank noted that it is “poised to be the preferred financial solutions provider redefining customer experience through digital innovations.

“This we will achieve by leveraging the best talents and technology to deliver unparalleled value to our stakeholders. With a strong ecosystem anchored around the customer, we offer a superior product portfolio that is customer-focused and innovative, yet simple”.

With a vision to leverage the best talent and technology to deliver unparalleled value to all its stakeholders, the bank noted that it is open to working with various stake holders to amplify its impact and capability.

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Banking Sector

FirstBank Rewards Customers in Transact and Win Promo

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First Bank Of Nigeria

Getting rewarded for spending money is a dream that is probably going to remain exciting for many people, but not for the Firstmonie Wallet users. In a two month Transact and Win campaign that started on November 22, 2021, First Bank of Nigeria Limited is rewarding several customers for carrying out transactions on its Firstmonie Wallet application. 

The e-wallet is useful for conveniently paying utility bills, purchasing airtime and data, transferring and receiving money, and many other digital transactions. Just for using the mobile-friendly wallet app, Customers got rewarded with mouth-watering prizes both in cash and kind. The number of transactions done on the app determines the price a user could win.

100 customers who had done 1-15 transactions through Firstmonie Wallet within the month won N10,000 cash price; 53 25kg bags of rice and 50 units of standing fans were also won by customers who carried out 16 – 30 transactions with the Firstmonie Wallet; 2 units of power generating sets, 1 unit of Air Conditioning systems and 1 unit LED Televisions went to customers who carried 31 – 50 transactions; while 2 units of iPhone 12 were won by customers who had carried out over 50 transactions on the app within the month.

Victor Nnanna Onyedikachi, a student of the University of Abuja was one of the winners of the iPhone 12, and while receiving his gift, he admitted that he did not expect to win the prize.  “I used the Firstmonie Wallet App, and just like that, I was told that I had qualified. I did not believe it until I saw it myself. I am truly grateful to FirstBank” he said.

Other winners also expressed their pleasure at being rewarded for using a completely user-friendly app. “There is no issue of service error when using it for any transaction. The service is seamless and the app is easy to use” one of them said.

The Group Executive, e-Business & Retail products, Mr Chuma Ezirim had noted that the promo was targeted at appreciating customers for their patronage; and in line with the Bank’s December-is-a-Vybe campaign. “This promo is hinged on the need to appreciate our customers for their patronage, especially as we have had an increased engagement and usages of the various services offered by our mobile-friendly wallet product,” Ezirim said when the promo was being launched.

Interestingly, the promo also includes new customers and users of the app. By simply downloading the mobile app from the play store, or using the *894# USSD string to sign up, anyone can qualify for the promo. The promo runs till January 22, 2022, so what are you waiting for as you could be the next winner of any of these fantastic prizes.

As the premier Bank in West Africa and the leading financial inclusion services provider in Nigeria for over 127 years, First Bank of Nigeria Limited has remained at the forefront of promoting digital payment in the country, and the Firstmonie Wallet is one of the channels for digital transactions.

Little wonder FirstBank was named “Most Valuable Bank Brand in Nigeria” six times in a row (2011 – 2016) by the globally renowned “The Banker Magazine” and “Best Retail Bank in Nigeria” for seven consecutive years (2011 – 2017) by the Asian Banker International.  FirstBank also bagged the Excellence in Retail Financial Services Awards and “Best Bank in Nigeria” by Global Finance for 15 years.

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Banking Sector

We Are Not Affiliated With Access Capital Investment Platform, Access Bank Warns

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Access bank

The management of Access Bank Plc has issued a disclaimer in respect of the Access Capital Investment Platform which has been circulating.

The bank, which dissociates itself and its subsidiaries from the investment platform noted that the online investment entity has been soliciting members of the public to invest in its Access Capital Investment products promising mouth-watering returns on investment.

“By this disclaimer, Access Bank Plc wishes to dissociate itself, affiliates, subsidiaries and/or proxies from the activities, contract, claims or business engagements of Access Capital Investment Platform”, the bank said.

The bank further stressed that “Access Capital Investment Platform is not an affiliate nor subsidiary of Access Bank Plc and it would be at the risk of anyone who invests in any of the Access Capital Investment packages/products, as Access Bank Plc would not be responsible for any loss, damages, refund whatsoever that may arise therefrom”.

According to Access bank, relevant law enforcement and regulatory agencies have been notified of this disclaimer.

Investors King reports that there are lots of fake investments platforms in Nigeria. These platforms offer unsuspecting members of the public investments return that are too good to be true.

Most times, they offer fake – but often convincing – opportunity to make a profit after they hand over a sum of money. They pretend to be representing a legitimate and trusted investment group and pressurize their victims into making a rushed decision.

Usually, these fraudsters use platforms such as Facebook, Instagram and Twitter to lure people into investing in cryptocurrencies, foreign exchange and binary options and often have convincing social media profiles or websites with fake reviews. Some of them even pay people to write fake reviews for them.

Recall that Investors King had earlier reported that the Minister of Humanitarian Affairs, Disaster Management and Social Development, Hajiya Sadiya Umar Farouq warned the beneficiaries of the N-Power scheme not to participate in any unverified investment scheme.

She had noted, in a statement, that the ministry is aware of the current fraudulent investment scheme trending on social media and therefore, urged N-power beneficiaries not to fall victim.

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