Connect with us

Banking Sector

Fidelity Bank Finances Ultra-Modern Rice Milling Factory 

Published

on

Fidelity Bank- Investors King

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has joined the Managing Director of Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe and a host of dignitaries including two state governors to commission a 400 metric tons per day mega rice mill in Kano state constructed by Gerawa Group of Companies. 

Speaking at the commissioning of the mill and the foundation laying of additional 560 metric tons rice mill, the CBN Governor stated that before 2015 Nigeria had less than 10 functional integrated rice mills with a combined capacity less than 350,000 metric tons, but with the coming of President Muhammadu Buhari-led administration, the statistic has grown to over 60 integrated mills with a combined capacity of over 3 million metric tons.

The CBN governor added that there are about 10 new integrated mills scheduled to be commissioned this year emphasising that the growing number of integrated mills have been complemented by hundreds of small-scale mills located across the states of the federation in an effort towards boosting the nation’s food security.

He explained that the private sector investment that has been unlocked in the establishment of these rice mills are testimony of the conducive environment created in the rice value chain through the CBN-led initiatives and stakeholders’ cooperation.

Commenting on Fidelity Bank’s support for the project, its Managing Director/CEO, Mrs. Nneka Onyeali-Ikpe, who was represented at the event by the Bank’s Executive Director, Northern Businesses, Hassan Imam, said, “At Fidelity Bank, we are known for facilitating transactions such as this where the impact is phenomenal and often on a national scale. We are pleased to be associated with this project because of its potential to not only improve the lives of many small-holder farmers in Jigawa, Kano and environs but to also develop the country’s rice value chain and ensure food security.” 

Shedding light on the bank’s interventions in the rice space, Mrs. Onyeali-Ikpe disclosed that the bank has facilitated the disbursement of over N34 billion in direct credit to players in the value chain. “Our interventions have helped to unlock financing opportunities for many paddy rice farmers with significant contribution to the expansion of national paddy rice output. This has created a positive ripple effect in the rural communities by way of farmer empowerment and employment generation. This is also in alignment with the business sustainability drive of our business,” she explained.

The chief host at the well-attended event and Chairman, Gerawa Group of Companies, Alhaji Isa Muhammed Gerawa stated that the establishment of the rice mill was a testimony of the efficacy of the federal government’s agricultural development policies in encouraging farming and other related activities with support from the CBN. He added that the intended 560 metric tons capacity rice mill will be completed in November 2022.

The occasion was graced by the Executive Governors of Jigawa State, Mohammed Badaru Abubakar and of Kebbi State, Abubakar Atiku Bagudu; captains of industries and heads of corporate organizations.

Continue Reading
Comments

Banking Sector

FirstBank Commemorates 2022 Customer Service Week

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced its commemoration of the 2022 edition of the Customer Service Week scheduled to be globally celebrated on 3 – 7 October 2022. 

Published

on

FirstBank

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced its commemoration of the 2022 edition of the Customer Service Week scheduled to be globally celebrated on 3 – 7 October 2022. 

The event themed: “Celebrating Service” will be marked across its FBNBank subsidiaries in over half a dozen countries which include FBNBank UK, FBNBank Ghana, FBNBank Senegal, FBNBank Gambia, FBNBank Guinea, FBNBank DRC and FBNBank Sierra Leone.

Customer Service Week is an international celebration that highlights the importance of customer service and staff who serve and support customers daily to deliver exceptional service to customers.

The Bank’s celebration of the 2022 Customer Service Week will include several activities considered integral to promoting a relaxed atmosphere whilst extending its participation to everyone, irrespective of where they are. The activities include virtual engagement of customers on its social media handles: firstbanknigeria on Instagram; First Bank of Nigeria Limited on Facebook; First Bank of Nigeria Limited on LinkedIn and @FirstBankngr on Twitter. 

Others are a video booth and photo frame funfair, then a Virtual Party on the Friday of the weeklong event and a movie date for staff.

Through the last 128 years of its operations, FirstBank has played a leading role in utilizing its robust customer service network and digital banking architecture to support its customers – cutting across diverse cultures, tribes and races beyond the shores of Nigeria – in meeting their individual and business needs. The Bank achieves this through its innovative, interactive, self-service banking platforms like *894# Quick Banking mobile solution, FirstMobile banking application, Firstmonie Agents, FirstOnline internet banking, WhatsApp banking, and ATM amongst many others. The Bank’s electronic banking channels are constantly updated with new and exciting features to expose customers to exemplary services and experience to put them at an advantage in the industry.

According to Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank “for us at FirstBank, celebrating service, the theme of the 2022 edition of the Customer Service Week is a reflection of our brand mantra “You First”. This reiterates the essence of our existence since 1894, centred on putting You, our customers First as we continue to support individuals and businesses to impact the economy.

With our dynamic and vibrant human-led and digital-led customer services operations, we remain committed to rendering the gold standard of services to our customers and stakeholders regardless of where they may be across the globe” she concluded.

Continue Reading

Banking Sector

Fidelity Bank Collaborates With SMEDAN, Seeks to Enhance SMEs Access to Fund

Fidelity Bank has partnered with the Small And Medium Enterprises Development Agency (SMEDAN) to bridge the funding gap in small businesses in Nigeria

Published

on

fidelity bank - Investors King

Nigerian commercial bank, Fidelity Bank has partnered with the Small And Medium Enterprises Development Agency (SMEDAN) to bridge the funding gap in small businesses in Nigeria.

At a Memorandum of Understanding (MOU) signing ceremony recently held in Lagos, the Managing Director/Chief Executive Officer of Fidelity bank Mrs. Nneka Onyeali-Ikpe who was represented by Executive Director, Lagos and South-West Dr. Ken Opara, disclosed that the partnership with SMEDAN reinforces the fact that the bank is a leading supporter of SMEs in Nigeria.

Her words, “For us at Fidelity Bank, supporting SMEs is in our DNA and for more than two decades, we have been creating multiple platforms to help them thrive.

“These include the numerous products we have pioneered, our collaboration with the Lagos Business School to host the Export Management Programme, the Fidelity SME Academy, and our weekly SME Forum radio program successful business owners and SMEDAN share tips on running thriving ventures with listeners.

“This partnership is therefore another step in our journey of helping entrepreneurs grow and compete favorably in any market they operate and we are very happy to have SMEDAN join us.”

Also, the Director-General/Chief Executive Officer of SMEDAN, Olawale Fasanya expressed gratitude to Fidelity Bank for facilitating the partnership, emphasizing that the MOU was particularly significant not just to the Agency but to the MSMEs ecosystem.

He said, “Fidelity Bank is one of the few commercial banks in Nigeria that have shown immense interest in providing support to the large MSME community. I am very aware of some of your products purposely designed to serve the MSMEs.

“This explains why the Agency is very excited entering into this relationship that we believe will help change the narratives of the sub-sector”.

Knowing that SMEs are the backbone of any economy, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) has on several occasions launched different initiatives for small and medium enterprises (SMEs) in the country to help boost sales and enhance capacity building.

On the other hand, Fidelity Bank has continued to play a pivotal role in the development of SMEs in the country by offering numerous support through partnerships with different firms and agencies.

It should be recalled that in June 2022, Investors King reported that Fidelity bank partnered with impactHER a non-profit organization, to empower 1,052 female entrepreneurs with sales skills in Nigeria.

Continue Reading

Banking Sector

Shareholders Approve Restructuring, Change of Name For Sterling Bank

Shareholders of Starling Bank have approved its conversion from a core banking business to a holding company like GTCO, Access Bank, FBN Holding, etc.

Published

on

Sterling Bank - Investors King

Shareholders of Starling Bank have approved its conversion from a core banking business to a holding company.

The shareholders also approved the bank’s proposed change of name to reflect its new businesses and core values.

Investors King learnt Sterling Bank will operate as a holding company with the name Sterling Financial Holding Company.

It should be recalled that at a meeting held last week, shareholders agreed to transfer their investment into Sterling Financial Holding Company which will enable the new company to venture into other sectors within financial services.

According to a statement released by the bank, shareholders believed that the decision to transform the lender bank into a holding company will enhance operations and pave the way to make the company a dominant force in the financial market. 

Under the new arrangement, shareholders will exchange their shares in the Bank for shares in HoldCo in the same proportion as their current holdings in the Bank. 

In addition, the new company, Sterling Financial Holding Company will be registered as a public company and Sterling Bank Plc will be delisted from the Daily Official List of the Nigerian Exchange Limited (NGX) while the new company (Sterling Financial Holding Company) will be listed in its stead. Sterling Bank will subsequently be a subsidiary which will be re-registered as a private limited liability company. 

Founded in 1960 and headquartered in Lagos, Sterling Bank operates within four areas of banking which include Retail and Consumer Banking, Commercial Banking, Institutional Banking and Corporate Banking. 

Chairman of Sterling Bank, Mr Asue Ighodalo explained that the transition into a holding company will enhance diversification into other permissible business lines,  thereby promoting growth and enriching shareholder value while it will also consolidate the financial strength of the group. 

Sterling bank will be joining a group of commercial banks such as United Bank of Africa (UBA), Access Bank, First Bank, Guarantee Trust Bank (GTB) and others which have changed names to holding companies.

Continue Reading
Advertisement
Advertisement




Advertisement
Advertisement
Advertisement

Trending