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Economy In Q3 2019 : Ecobank, Standard Chartered Lead In Capital Importation To Nigeria 

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National Bureau of Statistics (NBS) says Ecobank Nigeria and the local unit of Standard Chartered Bank have joined Stanbic IBTC Bank to become foreign investors’ favourites for investment deals.

 

Details of the Bureau report showed that out of 26 banks foreign investors used to deploy foreign capital into the country, the most investment came through Stanbic IBTC Bank. The bank attracted $1.63 billion worth of investment in the third quarter of this year, lower than $1.76 billion it had in the previous quarter.

 

Ecobank followed with $754.38 million worth of foreign investment, while Standard Chartered Bank, a wholly-owned subsidiary of UK-based Standard Chartered Bank occupied the third position by attracting $502.47 million inflows. Access Bank got $477.55 million; Rand Merchant Bank, $430.15 million; Citibank Nigeria Limited; $350.95 million; while First Bank of Nigeria had $307.94 million.

 

According to NBS, while the total value of capital importation into the Nigerian economy fell by 7.78 percent to $5.36 billion in the third quarter of 2019 from the previous quarter, Ecobank Nigeria attracted $754.38 million worth of foreign investment, representing 55.41 percent more capital thus making the bank foreign investors’ favourites for investment deals.

 

Commenting, Adetokunbo Uko, Country Treasurer, Ecobank Nigeria, said the Bank was leveraging on its pan-African strategy to attract capital to the nation’s economy, stressing that the Bank remains committed to increasing capital flows to Nigerian financial market.

 

According to her, “As a gateway to the African market for foreign direct and portfolio investments, Ecobank Nigeria is  leveraging on its Pan-African platform, people and products to contribute to the financial and economic development of Nigeria through provisions of foreign exchange solutions and fixed income products to local and foreign customers.” “We remain committed to our African strategy, to increase capital flows to Nigerian financial market through enhanced product offerings, good customer experience and transparency in all transactions”

 

She restated the Bank’s commitment  to redouble its efforts on all fronts to remain foreign investors’ favourite for investment deals and also claim its rightful position in the industry.

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Also Read:  Seplat, Ecobank Listed Among Worst Stocks As NSE Ends Trading In Negative
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WINNERS OF 2019 FIRSTBANK SPONSORED NATIONAL COMPANY OF THE YEAR COMPETITION CONTEST IN THE AFRICA COMPANY OF THE YEAR COMPETITION

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First Bank of Nigeria Limited has announced that Taidob College Abeokuta, the 2019 winners of the National Company of the Year competition organized by Junior Achievement Nigeria would compete against student teams from 10 other Junior Achievement member countries across Africa. The student team contestants comprise representative from the Kingdom of Eswatini (Swaziland), Ghana, Zambia, Gabon, Uganda, Zimbabwe, Mauritius, Botswana, Kenya and South Africa. The event is scheduled for Friday, 6 December 2019 at Alisa Hotel in Accra, Ghana.

The African stage of the National Company of the Year competition is a buildup and sequel to the national event hugely competed by 12 student companies from across the country, including the eventual winner Taidob College Abeokuta. Terra Kulture, Lagos played host to the event on 3 October 2019.

Speaking on the event, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited said “the youngsters from Taidob College are indeed not just solution providers, but also life savers. The impact of their innovation – the Gas Leakage Detector – would go a very long way at solving the problem of fire outbreaks due to gas leakages in homes, offices, and industries. I no doubt believe that they would make Nigeria and indeed the rest of Africa proud at the competition. We are delighted to associate with them and congratulate Junior Achievement on the feats so far attained”.

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Last year, Inventive Explorers, from Caro Favored College Ajegunle, emerged the grand winners at the Africa Company of the Year competition in Ghana. Their rechargeable handheld LED traffic lights has solved a real problem in various congested communities and reduced traffic accidents, especially in areas with school children crossing busy streets. Over the years, FirstBank has been at the forefront of partnering with Junior Achievement Nigeria in Company of the year program and competition.

The National Company of the Year Competition (NCOY) is an annual flagship event by Junior Achievement Nigeria’s (JAN), which convenes the winners of the JA Company Program Regional Competitions across Nigeria together to compete for the National Company of the Year Award. The national winner then proceeds to represent Nigeria against other JA Africa member-nation companies.

About FirstBank

First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa and the leading banking services solutions provider in Nigeria for 125 years. With some 15 million customer accounts, FirstBank provides a comprehensive range of retail and corporate financial services with over 750 business locations. The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing.

Since its establishment in 1894, FirstBank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.

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FirstBank has been named “Most Valuable Bank Brand in Nigeria” six times in a row (2011 – 2016) by the globally renowned “The Banker Magazine” of the Financial Times Group; “Best Retail Bank in Nigeria” for seven consecutive years (2011 – 2017) by the Asian Banker International Excellence in Retail Financial Services Awards and “Best Bank in Nigeria” by Global Finance for 15 years. Our brand purpose is to always put customers, partners and stakeholders at the heart of our business, even as we standardise customer experience and excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision “To be the partner of first choice in building your future”. Our brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on our inherent values of passion, partnership and people, to position You First in every respect.

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UBA on a winning streak; Gets double recognition as best CSR Company in support of Education

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l-r: Former President, Brand Journalists’ Association of Nigeria, Mr Goddie Ofose; Managing Director/CEO Modion Communications, Mr. Odion Aleobua; Chief Executive Officer, UBA Foundation & Group Head, Corporate Communications, United Bank for Africa, Bola Atta; President Brand Journalist Association, of Nigeria, Mr Princewill Ekwujuru and Chief Press Secretary to the Governor, Lagos State, Mr. Gboyega Akosile during award presentation to UBA for best institution in support of Education(CSR) 2019 and Bola Atta, as the top Corporate Affairs professional 2019 to UBA at the 7th Annual Brands & Marketing Conference 2019 in Lagos, recently

…Bola Atta wins Best Corporate Affairs Professional for 2019

Pan-African financial Institution, United Bank for Africa Plc once again got double recognition over the weekend as it emerged the best institution in support of Education(CSR) 2019 as the Chief Executive Officer, UBA Foundation & Group Head, Corporate Communications, Bola Atta, also received the award as Top Corporate Affairs professional 2019, at the 7th Annual Brands & Marketing  Conference. The event was held at the Lagos Chamber of Commerce Exhibition centre last Friday.

Atta, beat other nominees to the prize as a result of her impressive contributions at the steer of UBA’s corporate Communications with various laudable initiatives that have further increased the banks market share and brand presence ahead of competition.

 The successful organisation of the UBA Market Place,  which took place in Abuja last July; positioning UBA as a foremost pan Africa Bank and the birth of REDTV, the fast-paced digital lifestyle channel were some of her achievements which were read out as she received the award.

Also Read:  President Macron Endorses Ecobank’s commitment to creative industries

UBA’s CSR arm, the UBA Foundation was crowned best institution in support of Education(CSR) 2019 for its dedication to improving access to education on the continent, particularly through the National Essay Competition where students have received grants from the foundation, for the past 9 years, at tertiary institutions in Africa.

Speaking about the National Essay Competition as she thanked the BJAN for the awards, Atta said “it is always such joy to see winners of this competition each year and to know that with the grants that they receive to go to university, they will be changing their lives, the lives of their families and impacting their communities positively.” Education remains one of the main pillars of the UBA Foundation.

Also Read:  Female empowerment central to sustainable economic growth- Heritage Bank

Since 2012, The Brand Journalist Association Conferences  Awards- have been celebrating outstanding companies who through their immense contributions have become the game changers driving the wheels of growth for brands  and by extension development in Africa.

The President of BJAN, Princewill Ekwujuru, commended UBA Foundation for its strong footprint across Africa.  “Through its Read Africa Initiative and the scholarship grants given to winners of the National Essay Competition, the Foundation has done very well to transform the lives of many’.

He said the awards were borne out of the need to recognise the Game Changers whose relentless contributions have helped give hope to Africa and at the same time, drive sustainable development amid strife.

“For these companies, they understand that agility, innovation, fluidity, decisiveness and commitment accelerate the pace of change, Africa craves for” he stated.

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UBA’s REDTV shuts down Lagos as over 25,000 Youths Attend Its Annual Rave

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REDTV, the online lifestyle network powered by the United Bank for Africa Group, held its annual Rave on Saturday, November 30 to officially kick-off the ‘Dirty December’ season.

Over 25,000 guests attended this year’s event which was held in Lagos and true to its theme, ‘The shutdown’, the rave was the talk of the entire town this past Saturday.

REDTV hosted the creative industry and other guests to an unforgettable night with top business executives, entrepreneurs, celebrities and A- Listers, entertainers, fashionistas and many young people just wanting to have a fun evening.

UBA Group chairman, Tony Elumelu and the CEO, Kennedy Uzoka, were seen mingling with guests and having a relaxed night away from the rigours of work.

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The REDTV rave, which has become the annual Christmas season opener to rival, started with a hot performance by Ajebutter 22, BOJ, SDC and TEMS. Upcoming artist, Fireboy, came in and brought guests to their feet with his hot and fresh releases.

The crowd was not disappointed and remained energised when Olamide jumped on stage to shake the venue with his famous songs that had everyone screaming and jumping for joy. International act, Jidenna  thrilled the rave fans, just as Burna Boy sauntered in and brought the audience to a standstill at a party that lasted till the early hours of the following day.

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UBA ambassador, the star boy, Wizkid had come into the party to the absolute delight of guests who saw him walking in. He mingled with guests for hours and then gave a surprise performance on stage that took the rave to another level.

DJ Consequence, Sparrow and hypemen Shody and Tosan also took turns to entertain the excited youths throughout the night of thrills.

 

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