Connect with us

Business

FCMB Opens Flexx Hub, Creates Fun Banking Arena for Youths

Published

on

fcmb

First City Monument Bank (FCMB) Limited is set to launch its first Flexx Hub, an exclusive banking arena for its youth customers who hold a Flexx account. The flagship Flexx Hub is located at Lagos University Teaching Hospital, popularly called MediLag and the bank has unveiled a week-long launch event which began on Monday July 18, 2016 with exciting and fun activities to culminate in the Grand Opening of the Flexx Hub this Friday, July 22, 2016.

With a rich and deep content format hardly seen before now, the Flexx Hub Launch Week will feature a line-up of activities including appearances by popular celebrities, such as music artistes, DJs, photographers, Radio On-Air-Personalities, personal finance planners, entrepreneurial coaches and much more. In addition, there will be music, dance, game shows and talent contests, where participating youths will get a chance to win a daily Smartphone prize and stand a chance to win the Grand Prize of a Hyundai Veloster in the ongoing Flexx Promo.

Speaking on the Flexx Hub launch and what makes Flexx different from the generic offering for young people in the Nigerian Banking space, the Divisional Head, Retail Banking at First City Monument Bank (FCMB), Mr. Olu Akanmu said,

Flexx is not just an account but a lifestyle platform that offers a customer experience centred around Fun, Future and Banking. The tripod of ‘FFB’ is served through digital channels that fit into the lifestyle of the Flexx target market which include the Mobile App, a Microsite and an Online Account Opening platform, all of which allow a potential Flexx customer open an account with FCMB without having to visit a branch. What the physical structure of the Flexx Hub brings to the table is a further  simplification of banking as we know it and a place for young customers to breeze through those unavoidably physical‎banking transactions, while enjoying access to free extras such as wifi, charging ports etc. Ultimately, the goal is to demystify and remove the rigours of banking, so that members of the youth market are happy to come “Flexx @ The Hub” whenever the need arises. This is the first Flexx Hub we are opening, with many more to be opened in campuses across Nigeria before the end of 2016″.

FCMB’s Flexx proposition is targeted at young people who are actively seeking platforms which allow them to express their uniqueness, while building skills for financial success. A youth-centric banking product, Flexx is designed to meet the overall financial needs of young people within the age range of 18 and 35 years, where and how they want those needs met. This is summarized in the description of Flexx as “An app. A card. An account”, which gives account holders the freedom to bank on the go using the Flexx Mobile App. The Flexx card makes it convenient for them to withdraw cash, make payments online and on Point-of-Sale machines, as well as access exclusive discounts and freebies from Flexx partners. In addition to all of these, Flexxers‎get access to relevant fun and lifestyle information, as well as entrepreneurial tips, guides and events that help them build skills needed to achieve life aspirations and survive in the real world. This interesting departure from the common market offering gives the account holder a unique opportunity to “flexx” (a popular expression which means to “show off”) and express a lifestyle that will be the envy of their peers who do not have a Flexx account.

While responding to why FCMB is investing so heavily in banking solutions that foster youth capacity building, the Group Head, Corporate Affairs of the bank, Mr. Diran Olojo said,

“The youth segment is critical to our success as a retail brand. We are positioning FCMB as a youthful, vibrant and accessible brand and this segment is instrumental in harnessing that positioning for various reasons, including the population size in comparison to other segments, being about 42% of Nigeria’s population, reference to a National Bureau of Statistics’ report. In addition, we believe our differentiated approach with the Flexx account of focusing not just on fun and lifestyle, but also on their future and helping them develop the skills they need to succeed as entrepreneurs and business people is something that is attractive to the youth. This is a very important aspect in helping them to prepare for a successful future.”

Mr. Olojo said the Bank is focusing on the opportunity to develop sustainable relationships with the youth segment, even though they may currently have little disposable income.

“Our investment in this segment in the short term is to onboard them as early adopters and provide them with a platform that encourages sustainable self-development as we partner them through various life cycles into adulthood”, the FCMB brand custodian, concluded.

First City Monument Bank (FCMB) Limited is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional customer experience, while empowering its customers to achieve their aspirations.

 

 

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

Continue Reading
Advertisement
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Bank

Fidelity Bank grows PBT by 167.8% to N105.8 billion in Q1 2025

Published

on

Fidelity Bank grows PBT by 167.8% to N105.8 billion in Q1 2025

Lagos, Nigeria – May 1, 2025 – Fidelity Bank Plc, one of Nigeria’s leading Tier-1 financial institutions, has announced a remarkable financial performance for the first quarter of 2025, recording a Profit Before Tax (PBT) of N105.8 billion, representing an impressive growth of 167.8% compared to N39.5 billion in Q1 2024.

The bank’s unaudited financial statements, released on the Nigerian Exchange (NGX) on April 30, 2025, highlight a substantial increase in Gross Earnings, which rose to N315.4 billion, marking a year-on-year growth of 64.2% from N192.1 billion in the same period last year. Growth in interest income was primarily led by 38.6% yoy (7.4% ytd) expansion in earning assets base, while the increase in non -interest revenue came from FX-related income, trade and commission on banking services, etc., supported by increased customer transactions.

Commenting on the bank’s performance, Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc, stated, “We started the year with triple-digit growth in profit and sustained the momentum in our earning assets growth. This performance shows the resilience of our business model and reinforces our confidence in delivering a better result in the 2025 financial year.”

Other areas of the unaudited financial statements, equally show a marked improvement with Total Deposits growing by 11.1% ytd to N6.6tn from N5.9tn in December 2024, driven by 10.6% ytd growth in low-cost deposits to N6.1tn, which represents 92.2% of total customer deposits. Local currency deposits increased by 2.0% ytd while foreign currency deposits increased by 21.4% from $1.9bn in December 2024 to $2.3bn.

Net Loans and Advances increased by 5.0% ytd to N4.6tn. The growth in the bank’s Loan Book was skewed to LCY Loans as cost of risk declined to 0.6% from 1.5% in 2024FY.

“Beginning the year with such positive momentum reinforces our commitment to supporting the growth of individuals and businesses, while enhancing our financial sustainability. As we go into the rest of the year, we remain focused on building a resilient banking franchise with a diversified earnings base,” Onyeali-Ikpe added.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Continue Reading

Business

GTCO vs. Very Dark Man: Why Nigerians Must Stop the Judgment of Emotions

Published

on

*GTCO vs. Very Dark Man: Why Nigerians Must Stop the Judgment of Emotions*

By Osho Oluwatosin

The internet has literally been on ‘fire’ since Friday following the arrest of self-acclaimed Nigerian activist, Martins Vincent, also known as Very Dark Man. He was reportedly picked up by the Economic and Financial Crimes Commission (EFCC) for reasons yet unknown.

While it’s not the first time VeryDarkMan or any prominent Nigerian would be arrested by the EFCC — a government agency not under the authority of any private organization — it seems some Nigerians are passionately trying to push a narrative that his arrest was orchestrated by one of Nigeria’s biggest financial institutions, Guaranty Trust Holding Company (GTCO).

Although this narrative isn’t far-fetched — VDM had criticized the bank due to ‘mysterious’ deductions from his mother’s bank account for unjustifiable reasons. He approached the bank’s branch in Abuja to make an official complaint and, afterwards, he was picked up by the EFCC. But what many Nigerians have failed to realize is GTCO may not even be involved in his arrest.

VeryDarkMan was seen in the bank, quite alright, but in a CCTV released by the bank, he was seen moving out of the bank when he finished. He even had a celebrity moment with some of his followers who took pictures with him before he was arrested. So I’m wondering, what has GTB got to do with his arrest? That someone got knocked down by a vehicle after leaving church, does it mean the church orchestrated the accident? That someone got attacked after leaving a lecture room, does it mean the lecturer orchestrated it? That someone even got attacked in a courtroom, does it mean the judge orchestrated it? Absolutely not.

Although it would have been better if the EFCC had come out to clear the air regarding the reason for VDM’s arrest, because in the absence of information, rumours are bound to thrive. In fact, the commission should have actually released a statement regarding these rumours, not to vindicate GTB, but to keep Nigerians informed.

Let’s even think about it logically: what can warrant GTCO to order VDM’s arrest by the EFCC? Did he defraud GTCO? Did he steal from a GTB customer? Did he launder money through a GTB account? These are questions that should be asked before passing judgments. But Nigerians are always emotional when it comes to issues like this, and that’s why people who are culpable in serious crimes get away with anything as long as they get involved in charity or activism.

GTCO has been a very friendly organization, and in 2024 alone, the bank paid a record dividend of N8 per share. The bank is happy, shareholders are happy, customers are happy — who is Very Dark Man?

Osho Oluwatosin is a Nigerian journalist and writes from Lagos.

Continue Reading

Business

Can We Have More Bankers Like Victoria Mulero? An epitome of ‘omoluabi’

Published

on

Can We Have More Bankers Like Victoria Mulero? An epitome of ‘omoluabi’

In February of this year, I needed to open a new bank account for salary purposes, as required by the management of the new company I had just joined.

I considered First Bank, Access Bank, and Sterling Bank. After some thought, I chose Sterling Bank—not because I found them superior—but because I believed they had fewer customers, which I hoped would save me from long queues and unnecessary delays.

I visited the Sterling Bank branch at Akowonjo to open the account. Unfortunately, the staff member who attended to me didn’t inspire confidence. She appeared distracted—smiling at her phone, clearly engrossed in a private chat—far from the level of professionalism one would expect in a bank setting. I had a feeling this would lead to problems down the line.

 

When my first salary was paid into the account, my suspicion was confirmed. Sterling Bank restricted access to my funds—I couldn’t transfer money or make withdrawals at the counter. I visited their Fatai Atere branch at Ladipo, Mushin to complain, where I was informed that the account opened for me was a “Kaikai” account—a type I had never heard of. Apparently, this account type is meant for individuals who lack the required documents during account creation. But I had submitted all necessary documents, so why was such an account opened for me?

Can We Have More Bankers Like Victoria Mulero? An epitome of 'omoluabi'

At the Fatai Atere branch, I was attended to by a remarkable banker named Victoria Mulero. She requested my NIN, which I didn’t have on me at the time. Rather than send me back home, she asked if I had a digital copy. I did, and she graciously gave me her email address so I could forward it to her. With that, she resolved the issue promptly and professionally.

However, the following month, in March, the same restriction happened again. I returned to the Fatai Atere branch, and once again, Victoria Mulero handled my complaint with efficiency and kindness, resolving it without delay.

I hoped the matter was finally settled, but when my April salary arrived, the restriction was imposed yet again. This time, I was beyond frustrated and ready to replace Sterling Bank as my salary account. Still, I visited the Fatai Atere branch one last time. Once more, Victoria Mulero resolved the issue with grace and determination.

This write-up is a tribute to Victoria Mulero of Sterling Bank, Fatai Atere branch. She is a rare gem—respectful, diligent, and genuinely customer-focused. She went above and beyond, following up with the Akowonjo branch through calls and emails until the matter was fully resolved. She handled every situation with patience and empathy, treating the job as if the bank belonged to her family.

To be honest, I’ve had unpleasant experiences with many bankers, especially female staff. Too often, they carry personal frustrations into the banking hall and take it out on customers. But Victoria is different. She exemplifies what true customer service should be.

We may not all be the same, but treating people with respect and kindness is a skill that can be learned—and Victoria clearly has. Let’s celebrate her for being a model professional and a beacon of hope in an industry that too often lacks empathy.

Without any fear of contradiction, I say boldly that Victoria Mulero is a good ambassador of Sterling Bank and her parents too deserve encomium for raising a well trained daughter and impacting an attitude of ‘ omoluabi’ in her. We need more of Victoria Mulero in our banking industry.

Seun Jacob Ogunbiyi
Known as Olùkọ́, the therapeutic writer and Lagos based journalist

Continue Reading

Cover Of The Week

Trending