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Agricultural Productivity: Nirsal Plc Empowers Over 2,000 Farmers In 4 States

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3 months ago

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NIRSAL Plc has completed a midyear training programme for lead farmers and extension agents in the Aquaculture and Cassava value chains across locations in Imo, Sokoto, Kwara, and Oyo States.

The programme, aimed at boosting farmers’ capacities to access and repay commercial loans, had over 2,000 participants, with state government representatives also in attendance.

As it continues to promote the Agro Geo-Cooperative® approach to primary production, NIRSAL primarily targets lead farmers with the experience and skill to share new knowledge with members of their various cooperatives for its training programmes.

In Imo State, where no less than 500 participants assembled in two locations—one urban and one rural, the focus was on efficient models for fish production. It was the same in Sokoto State, while the Oyo and Kwara outings focused on cassava.

Mr. Uche Agabige, Imo State House Committee Chairman on Agriculture, lauded NIRSAL for including Imo in this round of the capacity building programme, with the belief that it would complement local efforts aimed at boosting agricultural productivity in the state.

Head of Value Chain Capacity Development at NIRSAL Plc, Mr. Ibrahim Suleiman, said that the capacity development programme, which is part of the Technical Assistance offered by NIRSAL to agricultural value chain actors under its Technical Assistance pillar, was happening simultaneously in three other states spanning four Geo-political zones.

According to Mr. Suleiman, lead farmers and extension agents in aquaculture and cassava were similarly gathered at two urban and rural locations in Sokoto, Oyo, and Kwara States, and they are expected to cascade the training to an estimated 6,000 farmers across the states.

The NIRSAL teams received warm reception and commendations in locations, including from the Commissioner for Agriculture and Rural Development and the Akinyele Local Government Chairman in Oyo State, and the Special Adviser to the Kwara State Governor on Farmers’ Interventions, among others.

In addition to the formation of functional cooperatives with proper governance structures, the training programme also discussed readiness for possible protocol breaches and early warning systems. Participants who spoke after the lectures said that they were delighted at the new insights they gained, pledging to share same with members of their various cooperatives.

NIRSAL Plc is an initiative of the Central Bank of Nigeria (CBN) established to de-risk agriculture and agribusiness financing in Nigeria, with a view to stimulating the flow of finance and investment into the Agricultural Value Chain from multiple sources. Logic for the Imo training exercise is provided by one of the five pillars of NIRSAL—Technical Assistance, under which value chain fixing initiatives are researched, developed, and promoted.

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Banking Sector

NDIC Issues Fresh Directives to Unpaid Heritage Bank Customers, List Requirements for Refund

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1 day ago

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November 8, 2024

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The Nigeria Deposit Insurance Corporation (NDIC) has issued fresh directives to customers of the defunct Heritage Bank who are yet to receive the refund of their money deposited in the bank.

The managing director of NDIC, Bello Hassan, through the director of communications and public affairs, Nuhu Bashir, issued the fresh directive during the corporation’s ‘special day’ event at the 36th Lagos International Trade Fair.

Urging unpaid customers to come forward, Hassan said that the requirements needed to claim a refund include the customer’s BVN, proof of account ownership, and alternative account details.

He detailed that affected customers can process their claims via the NDIC website, email, and social media platforms.

Highlighting the corporation’s role in liquidating Heritage Bank and facilitating the ongoing recovery and refund of depositors’ funds, Hassan stated, “Depositors who are yet to receive their payment should come forward with their BVN, proof of account ownership, identification, and alternative account details.”

NDIC reaffirmed its commitment to protecting depositors and ensuring financial stability.

“Our mandate is to safeguard depositors and ensure financial stability,” he stated.

Hassan assured customers that banks that are still in operation are safe saying, “All banks with active licenses from the CBN are safe and healthy,” Hassan said.

He pledged the corporation’s commitment to providing a safe and stable financial environment for Nigerians.

According to him, a stable financial environment will boost public confidence in financial institutions and enable businesses to thrive.

He stated, “The NDIC is committed to ensuring a stable financial environment that safeguards depositors and builds public confidence, enabling businesses to thrive and contribute to our nation’s economic development.”

Gabriel Idahosa, the president of the Lagos Chamber of Commerce and Industry (LCCI) praised the NDIC for its vigilant monitoring of banks and its proactive intervention in distressed institutions.

Idahosa said, “The corporation’s vigilant monitoring of banks, proactive intervention in distressed institutions, and ongoing commitment to depositor protection have instilled confidence in the banking sector.

“These ensure that banks can continue to serve businesses and individuals even in uncertain economic times.

“Its unwavering commitment to depositor protection and financial stability has been vital in navigating recent economic challenges and safeguarding the integrity of Nigeria’s banks.”

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Banking Sector

Zenith Bank Commends Customers After Successfully Unveiling Upgraded Enhanced Tech infrastructure

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3 days ago

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November 6, 2024

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Zenith Bank - Investors King

Zenith Bank Plc has announced that it now boasts the best technology infrastructure in the banking industry, positioning itself to provide an exceptional customer experience and superior service delivery moving forward. This upgrade follows a recent comprehensive technology enhancement.

The bank expressed its heartfelt gratitude to customers for their support and patience throughout the upgrade process, while also extending apologies for any inconveniences experienced during this time.

This announcement was made in a social media post on Wednesday, signed by Dame Dr. Adaora Umeoji, OON, the Group Managing Director/CEO.

In her message, the GMD/CEO emphasized the bank’s commitment to delivering an unparalleled service experience, stating, “We undertook this upgrade to ensure we can offer our customers the best possible service.”

Umeoji pledged that Zenith Bank will continue to innovate, ensuring that customer needs are met swiftly, safely, and conveniently.

The post read in part: “On behalf of the Board, Management, and Staff of Zenith Bank PLC, I would like to thank you for your patience and support during our IT infrastructure migration to a new and more robust operating system.

“We are truly grateful for the trust and confidence you have placed in us. The primary reason for undertaking this extensive endeavor was to better position Zenith Bank PLC for improved service delivery to all our valued customers and to create memorable banking experiences at all our touchpoints.

“While I regret the inconveniences and challenges you faced during and immediately after our migration, I am pleased to inform you that Zenith Bank PLC now has the best technology infrastructure in the industry. We are committed to ensuring you experience superior service delivery going forward.

“Rest assured, you remain our top priority, and Zenith Bank will continue to innovate and offer value-added products and services to meet all your banking needs quickly, safely, and conveniently.”

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Banking Sector

FBN Holdings To Invest N103.1bn In Corporate, Retail Businesses

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5 days ago

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November 4, 2024

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FBN Holdings

As part of means of actualizing its expectation of raising N150 billion from its existing shareholders by way of rights issue, the management of FBN Holdings said it has budgeted an estimated N103.1 billion for its corporate business and retail business lending segments of the market.

The Holdings recently held the signing ceremony to begin the rights issue offering of 5,982,548,799 ordinary shares of 50 kobo each at N25.00 per share to its existing shareholder on the basis of one new ordinary share for every six ordinary shares held as of October 18, 2024.

Extracts from the offer raising prospectus of the financial institution revealed that lending to the corporate business segment gets N77.34 billion, while lending to the retail business segment gets a budget of N25.78 billion.

This covers 68.95 per cent of the N150 billion proposed rights issue the management seeks to raise from existing shareholders.

Out of the N150 billion, a total of N29.46 billion was budgeted to support international business expansion and N14.73 billion for investment in automation and digital banking.

According to the financial institution, seamless and convenient banking experience for its customers would be guaranteed through its significant investment in automation and digital banking.

Through its mobile banking app, FirstMobile, and its internet banking platform, FirstOnline, the management of FBN Holdings said it has effectively acquired a broad cross-section of the target demography, with a clear proposition of owning bank accounts and utilising various financial services from the comfort of their locations.

It added that the bank plans to upgrade the FirstMobile and FirstOnline apps with additional features while driving customer adoption of the platforms, noting that the development is in line with First Bank’s commitment to providing customers with the best-in-class electronic banking experience.

The offer, however, is part of the company’s plan to recapitalise its commercial banking subsidiary, First Bank of Nigeria Limited,  with a view to increasing the bank’s capacity for business development and growth.

Chairman, FBN Holdings, Olufemi Otedola in a statement from the document urged shareholders to support the Rights issue by accepting their rights, stating that the company will be well positioned to achieve its strategic objectives and to deliver improved returns to all stakeholders.

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