Category: Business

FirstBank bags a hat trick of awards at the Global Banking and Finance Awards 2021

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First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider, has been awarded the 2021 ‘’Retail Banking CEO of the Year Nigeria’’, ‘’Most innovative Retail Banking App Nigeria’’ and ‘’Best CSR Bank Nigeria’’ awards by Global Banking and Finance magazine. The respective awards conferred on the Bank are in recognition of the indelible roles it plays in deepening financial inclusion in the country; advancing the digital banking eco-system as well as impacting people in its host communities with technology to make learning available to individuals of all ages,…

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Bitcoin tumble slows with help from Elon Musk

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Bitcoin’s value plunged on Wednesday after China signaled a new crackdown on the cryptocurrency, but its losses were cushioned after Tesla head Elon Musk spoke up on Twitter. The virtual currency fell to almost $30,000 — less than half the record value it reached last month — before climbing back over $39,500 around 2000 GMT. It was still above its level at the start of the year. Bitcoin recovered somewhat following tweets from Musk that featured a diamond and hands emoji, taken as a signal the company had not sold…

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S&P: FBNH, FirstBank boards’ changes ensured stability

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S&P Global Ratings said changes to the boards of First Bank of Nigeria Limited and FBN Holdings (FBNH) Plc, recently directed by Central Bank of Nigeria (CBN), addressed the banking group’s corporate governance challenges and ensures the Nigerian banking sector’s financial stability. In a statement, it stated that its ratings on FBN and other Nigerian banks remain constrained by shortcomings in corporate governance and transparency, among other factors. The CBN recently replaced the entire boards of FBN and FBNH, and reinstated the former executive directors and CEO, Dr. Adesola Adeduntan.…

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FirstBank’s Firstmonie agents hit 100,000 – creates positive impact for communities

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If you live in Lagos, Abuja or Port Harcourt, or you reside in any of the other state capitals, you probably take for granted that you actually live in the better of the two worlds that make up Nigeria when it comes to banking. Take Lagos, for example, you would find a bank in almost any corner you turn. You have many streets in business or commercial areas in the city that are lined up by nothing but banks in all their glory and magnificence. If a count is taken,…

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Re-appointed NTDC boss accelerates domestic tourism growth

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pp Mr. Folorunsho Coker, Director General (DG) of the Nigerian Tourism Development Corporation (NTDC), says he is committed to accelerating domestic tourism growth and fostering socio-economic development in Nigeria through the tourism value chain. Coker, who was recently re-appointed as DG, NTDC by Mr. President, expressed this commitment in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja. Born in July 1965, Coker was first appointed to the position in March 2017. He sees his reappointment as another opportunity to collaborate with critical stakeholders in the…

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FirstBank’s unveils new Board of Directors

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We refer to the Central Bank of Nigeria Limited (CBN) pronouncement on the reconstitution of the Board of Directors of First Bank of Nigeria Limited. Further to the press conference held by the Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele CON on Thursday, 29 April 2021, the Boards of FBN Holdings Plc and First Bank of Nigeria Limited were dissolved and reconstituted, pursuant to its power under Banks and Other Financial Institutions Act (BOFIA) 2020. The Board of Directors of First Bank of Nigeria Limited is now…

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FirstBank’s new corporate website simplifies banking

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Raheem Akingbolu reviews the new FirstBank’s corporate website and reckons that it would go a long way in strengthening the ability of the bank’s patrons and other potential customers in addressing basic banking operations. Outside the physical identity of any brand, the most accessible door into operations of a company in today’s market is perhaps the website. With digital technology taking the lead in today’s business environment, website has swiftly become the virtual meeting point for sellers and buyers. As a result of the fact that website can make or…

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GTBank Releases Q1 2021 Unaudited Results…..Reports Profit before Tax of ₦53.7 Billion

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Guaranty Trust Bank plc has released its unaudited Financial Results for the period ended March 31, 2021 to the Nigerian and London Stock Exchanges. A review of the result shows a resilient performance across all key financial metrics in the face of the unprecedented macroeconomic challenges, reflecting the quality of past decisions and reaffirming its position as one of the best managed financial institutions in Africa. The Group reported Profit before tax of ₦53.7billion, representing a drop of 7.8% over ₦58.2billion recorded in the corresponding period of March 2020. Deposit…

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FirstBank’s new corporate website launched….reiterates commitment to excellent service delivery

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FirstBank, Nigeria and indeed West Africa’s premier financial inclusion services provider has announced the launch of its newly designed website at https://www.firstbanknigeria.com/. The new website is upgraded with features that are streamlined to reinforce its role in delivering seamless banking and technology solutions to its customers across the world. The website is configured with modern design and improved functionality that eases customer experience whilst carrying out various activities on the site, including electronic banking. Non-customers are also able to open an account, putting them at an edge in the industry…

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NBS: Inflation rate hits 18.17% in March

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The National Bureau of Statistics (NBS) report shows that, inflation rate rose by 18.17 per cent in March 2021, being 0.82 per cent points higher than the 17.33 per cent in February 2021. Analysis showed that on a month-on-month basis, the Headline index increased by 1.56 per cent in March 2021. This is 0.02 percentage points higher than the rate recorded in February 2021 (1.54 per cent). The urban inflation rate increased by 18.76 per cent (year-on-year) in March 2021 from 17.92 per cent recorded in February 2021, while the…

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