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FIDELITY BANK PLC UNDERTAKES A ₦29.6BN RIGHTS ISSUE AND ₦97.5BN PUBLIC OFFER

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FIDELITY BANK PLC UNDERTAKES A ₦29.6BN RIGHTS ISSUE AND ₦97.5BN PUBLIC OFFER
 Fidelity Bank Plc (“Fidelity Bank” or the “Bank”) has concluded all necessary arrangements to raise a total of up to ₦127,100,000,000.00 (One Hundred Twenty-Seven Billion, One Hundred Million Naira) by way of a Rights Issue to existing shareholders and a Public Offer (the “Combined Offer”). The Combined Offer is a part of the Bank’s strategy to increase its share capital base in compliance with the revised minimum capital requirements for Nigerian commercial banks introduced by the Central Bank of Nigeria (“CBN”) on 28 March 2024. Overall, the Bank expects that the capital raised would support the Bank’s efforts to drive sustained growth and diversification of its earnings base.
FIDELITY BANK PLC UNDERTAKES A ₦29.6BN RIGHTS ISSUE AND ₦97.5BN PUBLIC OFFER
The Signing Ceremony with respect to the Combined Offer was held at the Board Room of the headquarters of Fidelity Bank in Lagos on Wednesday, 5 June 2024. The Bank’s shareholders had already approved the Rights Issue and Public Offer at the Extra-Ordinary General Meeting held on Friday, 11 August 2023. Under the Rights Issue, 3,200,000,000 (Three Billion Two Hundred Million) ordinary shares of 50 kobo each will be offered in the ratio of 1 new ordinary share for every 10 ordinary shares held as of 05 January 2024, at ₦9.25 per share. For the Public Offer, 10,000,000,000 ordinary shares of 50 kobo each will be offered to the general investing public at ₦9.75 per share.
Stanbic IBTC Capital is the Lead Issuing House to the Combined Offer, whilst the Joint Issuing Houses include Iron Global Markets Limited, Cowry Asset Management Limited, Afrinvest Capital Limited, FSL Securities Limited, Futureview Financial Services Limited, Iroko Capital Market Advisory Limited, Kairos Capital Limited and Planet Capital Limited. The Acceptance and Application lists for the Rights Issue and Public Offer are expected to open on Thursday, 20 June 2024 and close on Monday, 29 July 2024.
At the Signing Ceremony, Managing Director and Chief Executive Officer, Fidelity Bank PLC, Dr. Nneka Onyeali-Ikpe, disclosed that the proceeds of the Combined Offer will be applied towards investment in IT infrastructure, business and regional expansion, and investment in product distribution channels.
The Chief Executive of Stanbic IBTC Capital, Oladele Sotubo, commended Fidelity Bank’s management team for their commitment towards executing the Combined Offer. He lauded their efforts for being at the forefront of achieving the CBN’s revised minimum capital requirements for Nigerian commercial banks. While thanking the Bank for trusting Stanbic IBTC Capital to lead and advise on this landmark transaction, Dele expressed confidence that the deal would encourage other corporates to tap into the equity capital markets to raise funding to meet their strategic business needs.
The Rights Circular for the Issue, which contains a Provisional Allotment Letter and the Participation Form, will be mailed directly to shareholders of the Bank. Printed copies of the Public Offer Prospectus can be obtained at the offices of Fidelity Bank and the Issuing Houses during the Public Offer Application Period.
All existing shareholders and prospective investors are encouraged to read the Rights Circular and Prospectus and, where in doubt, consult your Stockbroker, Fund/Portfolio Manager, Accountant, Banker, Solicitor, or any other professional adviser for guidance before subscribing.

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Wema Bank Donates Brand-New Car to Winner of Outstanding MSME Clinic of the Year at National MSME Awards 202

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Wema Bank Donates Brand-New Car to Winner of Outstanding MSME Clinic of the Year at National MSME Awards 202

 

Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, donated a brand-new car to Desoor Bags, the winner of the Outstanding MSME Clinic award—female category, at the National MSME Awards Night 2024. This Award Ceremony was held at the Presidential Villa in Abuja on Thursday 27th June 2024, to commemorate World MSME Day.

 

 

The International MSMEs Day and MSME Awards Night 2024 is a twofold event organised by the Federal Government of Nigeria through the Office of the Vice President, to celebrate the successes in the Nigerian MSME Sector and develop sustainable solutions for the continuous growth and development of the sector, to ultimately boost the Nigerian economy. The first part of the event convened top reputable institutions and entities including Wema Bank, to brainstorm and proffer sustainable financial solutions to not only provide affordable loans and funding for MSMEs, but to also ensure that these financial solutions are easily accessible and available to MSMEs. The concluding part of the Event was the National MSME Awards 2024; the sixth edition of the annual celebration.
The Award Ceremony celebrated top performing MSMEs across various categories from different parts of the country, awarding them with gifts and cash prizes in show of support and in advancement of their businesses. Wema Bank, reputed for its positive impact across various areas including MSMEs and Women, not only contributed immensely to the solutions garnered in the daytime event but also sealed its commemoration of World MSME Day 2024 at the National MSME Awards 2024 by gifting a car to Desoor Bags, the winner of the Outstanding MSME Clinic award (female category). This remarkable gesture simultaneously reinforced the Bank’s role as an enabler for MSMEs and its reputation for championing women empowerment and promoting gender inclusion in Nigeria.
Presenting the award and car gift in representation of Moruf Oseni, the MD/CEO of Wema Bank, Tunde Mabawonku, the Bank’s Executive Director of Retail and Digital Business, highlighted the impact of the World MSME Day 2024 events, emphasising the need to provide tailored support for MSMEs and advocating for a seamless synergy of capacity development, financial and material empowerment, collaboration, as well as leveraging technology and digital, to build a supportive ecosystem for MSMEs to thrive. “First, I would like to congratulate Adesola, the Outstanding MSME Clinic Award winner in the female category of the 6th National MSME Awards. It should come as no surprise that we choose to reward a woman today, as Wema Bank has always demonstrated a strong commitment to empowering women and provided tailored solutions for them to thrive in their personal and professional endeavours. We continue to do it through our women-focused proposition, SARA, and today, we have chosen to support this outstanding woman-owned business with a car to reduce stress and increase efficiency for her as she continues to grow her business”.

 

 

 

“As we commemorate World MSME Day today, it is important that we set our sights forward on the future of MSMEs in Nigeria. This is why the conversations we’ve had today are very important and Wema Bank is more than glad to be part of it. As the Bank that is committed to empowering lives through innovation, we are dedicated to not only providing innovative solutions and resources for customers to thrive but also empowering them to make the most of these solutions we provide. Technology and digital are the future, and intelligence is here to stay so beyond providing financial resources for MSMEs, we are also focusing on empowering them with digital skills to ensure they are not left behind in this digital evolution. The goal is digital empowerment for scale. To maximise our impact, we will continue to innovate and collaborate to drive capacity development, financial and material empowerment, as well as technology and digital empowerment for MSMEs, to build an enabling environment for these MSMEs to thrive”.

 

 

 

Expressing irrepressible gratitude to Wema Bank for the remarkable show of support, Adesola Adedoyin, CEO Desoor Bags and Winner of Outstanding MSME Clinic Award (Female category) at the National MSME Awards 2024, added, “I cannot find the words to express how I feel right now. My business has been recognised on such a huge platform and on top of that, I am going home with N2,000,000 and a brand-new car, it feels so unreal. Thank you, Wema Bank, for supporting me and my business with this car. I can now transport myself and the resources Desoor Bags needs without struggling to ‘jump bus’ multiple times when I can fit it all in the car at once. I am beyond grateful. Thank you to the Federal Government for the opportunity and thank you, Wema Bank for all you do”.

 

 

 

In its authority as Nigeria’s most innovative bank, Wema Bank continues to prove its mettle not just as an enabler for MSMEs but also as the partner of choice for all. With the Bank’s diverse range of tailored solutions and its success in already providing single-digit loans for female MSMEs, among others, Wema Bank continues to push boundaries for the best and redefine standards in the banking and financial services industry.

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ILÉ IYÁN NIGERIA EMPOWERS UNIVERSITY OF LAGOS STUDENTS WITH ACADEMIC SCHOLARSHIPS

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*ILÉ IYÁN NIGERIA EMPOWERS UNIVERSITY OF LAGOS STUDENTS WITH ACADEMIC SCHOLARSHIPS

 

 

ILÉ IYÁN, the renowned Nigerian restaurant known for its celebration and promotion of the Nigerian African culture through serving authentic Nigerian cuisine, proudly announces its collaboration with Madam Tinubu Hall, University of Lagos to host a cooking competition aimed at promoting culinary excellence and supporting higher education among Nigerian youth.

The Event took place at the University of Lagos on Wednesday the 26th June, 2024. The cooking competition showcased the culinary talents of students from the University of Lagos. The Participants competed preparing traditional Nigerian dishes, judged by a panel of esteemed chefs and culinary experts.

In an innovative move to foster education and reward talent, ILÉ IYÁN Nigeria awarded scholarships to the outstanding participants; Winner Ms. Kenneth Mary Anuoluwapo who won Academic Scholarship plus cash prize, 1st runner up Ezeanowi Maryjane won Academic Scholarship and 2nd runner up Nwachukwu Kamsi Adaobi won cash prize. These scholarships underscore ILÉ IYÁN’s commitment to nurturing the next generation of culinary leaders and supporting educational opportunities in Nigeria. This will enable the participants /winners to pursue their academic ambitions at the University of Lagos.

“This competition is not just about cooking; it’s about recognizing and nurturing talent,” “We believe in the potential of the Nigerian youth and we are excited to support their educational journey through this initiative.” This is also where I started my journey as a Restauranteur and Entrepreneur 15 years ago said the Founder/CEO of ILÉ IYÁN Nigeria, Mr Sanni Sheriff who’s also an Alumnus of The University of Lagos. The Award was presented by the ILÉ IYÁN Team led by Mr Sanni Afeez also in attendance Ms Paulina Legba.

ILÉ IYÁN invites the public to join in celebrating the rich culinary heritage of Nigeria and the academic achievements of its youth at this prestigious event. The competition was a vibrant display of creativity and skill, showcasing the diverse flavors and traditions that define Nigerian cuisine.

About ILÉ IYÁN

ILÉ IYÁN also known as “Home of Pounded Yam “ is a Nigerian African Restaurant that offers original Nigerian African dishes made using traditional cooking techniques to produce dishes with original African flavors. The brand is positioned as the pride of Nigeria as we promote the tourism and beautiful culture in Nigeria through our cuisine.

ILÉ IYÁN immerses patrons in a sensory journey that through Nigeria’s diverse traditions. The restaurant’s interior, adorned with authentic artifacts and traditional motifs, creates an ambiance that transports diners to different regions of the country. The staff, dressed in traditional attire, adds an extra layer of authenticity to the experience.

 

Culinary offerings at ILÉ IYÁN showcase the country’s diverse culinary heritage, featuring a carefully curated menu that highlights delicacies from various ethnic groups. From our flavourful soups to the succulent pounded yam to village rice, each dish is a culinary masterpiece, meticulously prepared to capture the essence of Nigerian flavors.

OUR VISION: To be the biggest African restaurant brand selling the authentic Nigerian African culture across the globe.

OUR MISSION: is to promote and preserve Nigeria’s rich cultural heritage and diversity through our delicious Nigerian cuisine.
To bridge the cultural gap between the several generations of Nigerians living home and abroad .

VALUES:
In terms of tourism, ILÉ IYÁN becoming a must-visit destination for both domestic and international travelers seeking an authentic Nigerian experience.

Our popularity will not only boost local tourism but also contribute to changing perceptions about Nigeria, showcasing the country’s cultural richness and hospitality.

As ILÉ IYÁN continues to flourish, we will serve as a beacon of cultural pride, fostering a sense of unity and appreciation for Nigeria’s diverse heritage. Our restaurant stands as a shining example of how a traditional-themed establishment can be a catalyst for cultural preservation, community engagement, and tourism promotion in the heart of Lagos. Nigeria

For ILÉ IYÁN dining experience and food delivery kindly visit or contact

📍ILÉ IYÁN LEKKI
Plot 6 Dr Muiz Banire Street Lekki phase 1 . Same street with Imax Film house Cinema.
The street is off Bisola Durosinmi Street Lekki Phase 1

For online orders kindly call 09024475402

For media inquiries, please contact:
Follow ILÉ IYÁN on Social Media: please visit follow us on social media

Instagram: @ileiyan_ng
Facebook: ILÉ IYÁN NG
Twitter: @ileiyan_ng

www.ileiyan.ng

 

ILÉ IYÁN NIGERIA EMPOWERS UNIVERSITY OF LAGOS STUDENTS WITH ACADEMIC SCHOLARSHIPS

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Canada based Nigerian businesswoman, Naomi Sigismund Unveils Plans To Promote Bilateral Trade

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Canada based Nigerian businesswoman, Naomi Sigismund Unveils Plans To Promote Bilateral Trade

 

Canada-based Nigerian businesswoman, Ms Naomi Omolola Sigismund, has unveiled her array of programmes and activities as she assumes the role of Trade Commissioner for the Republic of Vanuatu in Toronto.

Internationally renowned for her passion for enabling trade and business through networking and bilateral platforms, Ms Sigismund said she seeks to strengthen trade relations and economic growth, and foster mutual prosperity between Vanuatu, Canada, and Africa.

In a statement on Thursday signed by her Media Consultant, Mr Israel O. Bolaji, she expressed her enthusiasm for enabling trade, business, and bilateral relations, noting that her main goal on her new role remains establishing and sustaining strong bilateral relations between Vanuatu and Canada, with a particular focus on fostering economic growth and mutual prosperity. She also intends to extend these efforts to Africa.

She stated: “During my three year tenure, I will passionately move to establish and sustain strong bilateral relations between Vanuatu and Canada through trade and investment; Generate foreign direct investment (FDI) worth millions of dollars annually, significantly Increase Vanuatu’s Gross National Product (GNP) from $1.19 billion (as of 2022); organise international trade fairs in Port Vila to showcase locally made goods.”

“I will Participate in global business round-tables to attract and stimulate trade and investment in Vanuatu; Sign and implement effective trade agreements with Canada amongst others,” she noted.

“I also plan to promote Vanuatu’s tourism sector through an in-depth evaluation and development of a comprehensive trade policy, as well as organise periodic international trade fairs in collaboration with the Minister of Trade. Exploring international collaborations for trade and investment expansion through Vanuatu’s membership in multilateral institutions is another key objective to achieve, ” the Trade Commissioner added.

Ms Sigismund brings a wealth of experience to her new role. She is the convener of the annual Glam African Fashion Festival (GAFF) in Nigeria and Canada and is also the Founder of Hope For Sure Foundation, a charity organisation.

Additionally, she has served as the Project Director of The African Canada Investment Expo and Summit, a prestigious business gathering aimed at bridging the gap between African businesses and Canadian investors.

Her recent appointment as Trade Commissioner was announced by Vanuatu’s Deputy Prime Minister and Minister of Foreign Affairs, International Cooperation and External Trade, Matai Seremaia Nawalu, in May.

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