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NIGERIANS TO EXPERIENCE FORMULA 1 MALAYSIAN GRAND PRIX

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Sport loving and especially Nigerians, especially the car racing freaks, will have a unique opportunity of being part of the forthcoming Formula 1 Malaysian Grand Prix, which will run between September 28th  to October 2nd, 2016 in Kuala  Lumpur, Malaysia.

This grand experience is packaged in Nigeria by Lyxvara Concierge, first class sport tourism and first class luxury Concierge Company headquartered in Lagos,

The 18th edition of the 2016 FORMULA 1 MALAYSIA GRAND PRIX is the first time it has been moved in the F1 calendar for many years. Coming right after the Singapore F1 Grand Prix, the race offers a unique double F1 treat in Southeast Asia.

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“With an exciting cluster of events throughout the race week, including a demo run, auto carnival, fan engagement programmes with the drivers, and a spectacular post-race concert, the newly redefined F1 is not to be missed!,” the company said in a statement.

The statement explained that families looking forward to soaking up the thrills at Sepang can enjoy an improved family-friendly activities at the circuit with the ever popular X-track returning on popular demand, showcasing motorsports-themed thrills such as drifting, rallying, go-karting, ATV rides and more, for fans of all ages.

For the trip, an Economy Return Ticket. Lagos to Kuala Lumpur; visa; 5 star hotel accommodation (5 Nights + Breakfast); VIP Grand Prix Event access; and After Race concert access featuring Usher Raymond will cost N600, 00k.

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The inaugural Grand Prix at Sepang was held in 1999, and saw Michael Schumacher return to the sport after his absence due to a broken leg sustained at that year’s British Grand Prix. Ferrari dominated the race, with Schumacher handing the victory to title-hopeful team-mate Eddie Irvine, only for both Ferraris to be disqualified due to a technical irregularity, before later being reinstated

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Financial Empowerment: UBA Launches ‘Click Credit’ to Ease Access to Cash for Customers

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UNIBEN Alumni

Pan African financial institution, United Bank for Africa (UBA) Plc has launched ‘Click Credit’, a time loan designed to address the urgent needs of customers whose salary accounts are domiciled with the bank.

As a bank backed by a strong retail franchise with over 1,000 business offices serving 19 million customers, UBA has introduced this product in line with the bank’s mission of creating value for its customers while assisting them to meet up with their urgent needs. The loan product, already being enjoyed by millions of customers in  Nigeria will be extended to the Bank’s other franchises in Africa.  

Click Credit, which has been carefully crafted to improve the lives of the UBA customers, is a superfast loan product which will allow qualified customers to apply for up to N5 million loan and pay back over 12 months at an interest rate of 1.58% per month, with no hidden fees.

Specifically, salary earners from N25,000 per month who fall between the ages of 18 and 59 can benefit from this facility with no extra fees; no need for collaterals, no paper-work or other difficult issues when it comes to this facility; as customers can even apply via LEO, UBA Mobile Banking and UBA internet banking.

UBA’s Group Head of Retail Banking, Mr. Jude Anele, who revealed that qualified customers have begun to enjoy the service, explained that the loan provides immediate access to funds once eligibility is confirmed in less than a meeting

He said, “As Africa’s most innovative and technology-driven financial institution with an array of novel products and services tailored to the needs of its millions of customers, we have launched Click Credit, which is straightforward and more affordable than many other loan products in the market.  Its unique feature is that it meets a critical credit need for our customers”.

Anele while emphasising the critical role that credit plays in any developing and developed society, said that it is part of the customers’ financial power where they can be assisted to get the things they need, when they need them without hassles.

While explaining that this product is being rolled out first in Nigeria and subsequently in the rest of UBA’s countries of operations; he explained that UBA is committed to ensuring that Click Credit helps the bank’s customers to cover critical needs and set them up for success, having moved past that moment of need.

On her part, UBA’s Group Head, Marketing, Dupe Olusola, reiterated that UBA remains focused on empowering its customers to fund their urgent needs.

“At UBA, we work hard to be there in the moments that matter to our customers, hence, our huge investment in technology and other facilities to make banking easier and seamless,” Olusola explained, adding that the bank has deepened its focus on the most important aspect of its business which are its the customers.

To ensure ease of access, customers can apply for Click Credit by simply dialling *919*28# or via UBA’s chat bank ‘Leo’, UBA Mobile Banking app and UBA Internet Banking.

 Customers can also speak to the Bank’s  Customer Fulfilment Centre (CFC) about Click Credit. The terms of the loan are available at www.ubagroup.com/clickcredit.

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Financial Responsibility: Preparing Your Teens to Make the Best Financial Decision

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Growing up, I never fully understood the concept of financial responsibility or how my parents managed their finances.

I had no appreciation for the naira note nor how to be a thrifty shopper. I was ill-prepared to manage a budget or make wise money choices as a college graduate. As I got older and more financially conscious, I realized that if it wasn’t for my minimalist parents, their wise decision to open a kiddies account for I and my siblings as well as generous relatives with deep pockets, I couldn’t have imagined where we would be today, financially speaking.

Several life lessons opened my eyes to the importance of financial responsibility which is why I think it’s incredibly important to teach young children how money works and how to wisely use it.

If you asked most teens or kids in their pre-teens what it means to be financially responsible or if they have a teens account, I am sure you will get a lot of remarks masked in confusion.

This is why I will like to share some practical ideas for imparting financial responsibility in your teens as you prepare them for their future.

How to Teach Your Kids Financial Responsibility

Having that money talk with your kids as they grow older may be a hard nut to crack. With this in mind, I have curated a checklist to help you prepare your kids as they navigate the tricky waters of personal finance;

1. Be the example:
Several teens rely on their parents to set the right example when it comes to money management. As parents and guardians, we play a crucial role in shaping our children’s financial habits and attitude towards money.

A great way to set the right example as your teens grow older is by including them in some of your financial decisions. An example, showing them how you get better deals on groceries, or how you use a budget planner for your monthly expenses.

Let them in on your budgeting process for household supplies, essential bills and gradually introduce them to how you sort your taxes or pay your mortgage.

Very often, children mimic the financial habits of their parents or guardians.

If your children see you as the type of person who saves up to buy something, then they are more likely to do the same but if they notice you’re quick to turn to credit to fund non-essential purchases, they most likely follow suit.

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2. Give your teen the freedom to manage their own budget:
This will teach a vital lesson and help them understand that money is not an unlimited resource.

Allowing your teens manage funds early will help them recognise the value of money and teach them the importance of spending only what they can afford, help them avoid the drawbacks caused by unplanned expenses.

You can also introduce them to banks with teens account and talk them through everything they need to know to ensure open the right account.
3. Pocket money and budgeting:
One of the ways to teach teenagers financial responsibility is giving them a set budget for a specific task.

Pocket money offers the first taste of financial responsibility to a lot of children. Giving your kid a regular amount of money and the sole responsibility of paying for things they like, offers them the first glimpse into life and how to stick to a budget.

An example could be providing them with a monthly budget for their meal and allowing them spend the funds as they like, if they choose to spend the money on other things other than their meal and they run out funds, they’ll learn a valuable lesson about budgeting and discipline.

Teenagers who receive a regular, fixed sum are likely to keep track of their financial income and spending. A crucial part of teaching your teenagers how to manage their finances is to be strict with the money you give them and ensuring you rarely ever bail them out when they overspend. This will teach them that overspending can lead to the problem of debt.

4. Share tales of your financial mistakes:
Opening up to your kids about certain financial mistakes you have made in the past and how they hindered you is a good idea. These stories are a great way to highlight the dangers of poor financial habits. This could mean telling them about how you incurred debts because of a bad spending habit on unnecessary items.

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By sharing some of the financial mistakes you made when you were about their age, you will be teaching them valuable financial lessons.

5. Help them Develop a Savings Culture:
Teaching your kids, the importance of saving and only buying the things they need is a crucial part of shaping their adult life.

This could means encouraging your kids to set aside a small amount every month to buy a new pair of shoes, or teaching them how to save long-term for bigger projects.

This habit and financial discipline will make it easy for them to achieve their long term goals of going to college, paying their mortgage or buying a car as they become adults.

Talking to teenagers about the need to save can be quite tasking, so it’s a great idea to introduce them to saving by leveraging their interests.

If your kid is interested in fashion, you can help them out work out how to meet the cost for items they will like to get.

This could mean teaching them to set aside a certain amount of money monthly or helping them secure a part time job.

6. Teach them how to manage their first wage:
Helping your teenager secure a job is one of the important steps to financial independence. This will also help increase the amount of disposable income they have access to.

Younger kids who still go to school can take up informal employment like babysitting for family friends, while teenagers over the minimum school leaving age can take up full time employment. This will play a key role in preparing them for the future and is also a great opportunity to in-still in them the importance of saving some of their earnings for rainy days.

An example could be, if your teenager would like to buy some fashion items, make up or the latest PS4, you can show them how to set-up a standing order to their savings account on every pay day. This way, their savings is automated and it so much easier to stick to a budget.
Image Source: Unsplash cc @blankerwahnsinn

Written by: Mariama Barry

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FIRSTBANK TAKES ITS SMES BUSINESS CLINIC TO PORT-HARCOURT AND ABUJA

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SMES BUSINESS CLINIC

In recognition of the significant role SMEs play in achieving sustainable growth and development in the economy of the country, Nigeria’s premier and leading financial services provider, First Bank of Nigeria Limited would host SMEs in its 2020 second edition of the SME Business Clinic. The event themed “Building a sustainable Business” would be held on 25th and 27th February 2020 in Port-Harcourt and Abuja respectively.

 

SMEs are encouraged to take the FirstBank SME diagnostic tool by visiting https://smeconnect.firstbanknigeria.com/ in order to stand a chance to be amongst the participants that will be in the SME Business Clinic in Port-Harcourt and Abuja. The FirstBank SME diagnostic tool is designed for SMEs to check the health of their business, better understand it and drive profitability. The SME Clinic will feature one-on-one business advisory services, mentoring, networking opportunities and participants will also be acquainted with the requisite knowledge and business tools needed to drive efficiency in the day-to-day operations of their business.

 

Speaking on the event, Gbenga Shobo, the Deputy Managing Director, FirstBank, said “at FirstBank, we are proud of the giant strides we have taken over the years towards enhancing the SMEs for their businesses to thrive, have a fair play in the market and contribute to the Gross Domestic Product of the country. We remain the trusted financial partner of SMEs and reiterate our resolve to be known as the brand that enables their success; much the same way that we have for over 125 years enabling Nigerians and the economy at large”.

 

The coaches at the event are Seye Olurotimi, Lead Consult at Cedar Tribe Limited, an SME branding expert and business growth consultant with vast experience helping SMEs grow effective brands and Robert Yakubu, founder of the Instabiz Academy and the Business Mastery Program, a digital entrepreneur and business strategist empowering entrepreneurs, marketers and business professionals in Port-Harcourt and Abuja respectively.

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The SME Clinic session is organized in partnership with SME Traction, a leading business coaching platform aimed at empowering SMEs to make informed choices about their businesses, thereby facilitating growth and bolstering their contribution to the development of the economy.

 

Expressing her delight on the impact the inaugural SME Clinic has had on her business, the CEO, Nibbles Plus More Ventures, Owoeye, Oluyomi, stated that “the first step I took after the SME business clinic was do a strategic road map for my business. Riding on the information I got from the business trend session on consumer landscape, I had a clearer understanding of who my target audience are and have included that in my business plan. The feedback we believe will help us identify untapped markets and problems in our industry, how to reach them and what value we can offer them”.

 

Like we were told at the clinic, progressing into the counter intuitive zone of the business model reinventing box is what brings about Innovation. Something must trigger innovation and not just our intuition. Hence, we have chosen research, she concluded.

 

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 over 125 years.

 

With over 750 business locations and 44,000 Banking Agents spread across 99% of the 774 Local Government Areas in Nigeria, FirstBank provides a comprehensive range of retail and corporate financial services to serve its over 15 million customers. 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.

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The Bank has been nimble at promoting digital payment in the country and has issued over 10million cards, the first bank to achieve such milestone in the country. FirstBank’s cashless transaction drive extends to having more than 8.5million people on its USSD banking service through the nationally renowned *894# banking service and over 3 million people on Firstmobile platform.

 

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.

 

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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