Connect with us

Business

FIRSTBANK DEDICATES THE MONTH OF MARCH TO CELEBRATE WOMEN, REINFORCES ITS COMMITMENT TO EMPOWERING WOMEN

Published

on

RE: FIRSTBANK OFFICIAL STATEMENT 

FIRSTBANK DEDICATES THE MONTH OF MARCH TO CELEBRATE WOMEN, REINFORCES ITS COMMITMENT TO EMPOWERING WOMEN

In furtherance of its leading role in promoting the socio-economic inclusion of women in society, FirstBank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced its dedication of the month of March to the celebration of women across the world, as it commemorates the globally celebrated International Women’s Day, scheduled for 8 March 2023.

 

 

FIRSTBANK DEDICATES THE MONTH OF MARCH TO CELEBRATE WOMEN, REINFORCES ITS COMMITMENT TO EMPOWERING WOMEN

 

 

 

Kicking off the series of internal and activities designed to celebrate women is The First Women Network (FWN), Mentoring, Coaching and Sponsorship Pillar Webinar scheduled to hold on Friday, 3 March 2023. The event is organized by the Bank’s First Women Network, an initiative that seeks to address the gender gap and increase the participation of women at all levels within the organisation.

 

 

 

 

 

 

On Wednesday, 8 March 2023, the Bank will join the rest of the world to celebrate the 2023 International Women’s Day themed: “Embrace Equity” as it convenes its International Women’s Day 2023 event.

As a member of UN Women, FirstBank employs the relevant women empowerment tools including the Women Empowerment Principles (WEPs) Gender Gap Analysis Tool in the process of assessing its performance and provides progress reports that feeds into the WEPs performance indicators. FirstBank has a ratio of about 39%:61% female to men employees while 32% women in management driving a deliberate policy consistent with the WEPs – Equal Opportunity, Inclusion, and Nondiscrimination.

 

In line with this commitment, FirstBank is partnering with UN Women on 15 March 2023 and is set to play a key role in a scheduled event driven by UN Women that will showcase young women and men between the ages of 18-35 in Nigeria who are using technological innovations and tools to promote gender equality, women’s empowerment and inclusion. This is in line with the UN International Women’s Day theme for 2023 is “DigitALL: Innovation and technology for gender equality’’.

The conversation on ‘’Embrace Equity’’ as well as ‘’DigitALL: Innovation and technology for gender equality’’ will be reinforced on Twitter Spaces with notable speakers including Foluso Gbadamosi, the Executive Director of Junior Achievement Nigeria.

 

Amongst the activities scheduled to round off the Women’s Month commemoration is the Bank’s support of the Heroism of Erelu Ota – a play which aligns with the Bank’s First@arts goal of supporting the arts and women. Heroism of Erelu Ota is an untold story of a legendary goddess in Ikorodu Kingdom who travels on the sea with a mat, and her ability to see what the enemies of Ikorodu are planning in their town, played a huge role in assisting the people of Ikorodu during the Agbala war.

Speaking ahead of the events, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank said that “we remain committed to diversity and inclusion as well as women empowerment through digital education and the provision of opportunities for women to access digital tools to bridge the gender digital divide and achieve gender equality. Therefore, as in previous years, FirstBank has dedicated March 2023 as a month set aside to celebrate women and all their remarkable achievements over the years which include their leadership roles and pace-setting standards in Science Technology Entrepreneurship, Arts and Mathematics (STEAM).  We are deliberate about partnering to ensure more impact – ensuring that we touch as many women as possible in Women’s Month and beyond.’’

 

Continue Reading
Advertisement

Bank

ZENITH BANK MAINTAINS IMPRESSIVE  TRACK RECORD AS PBT HITS N1.3 TRILLION, PROPOSES N4.00 FINAL DIVIDEND

Published

on

ZENITH BANK RAISES OVER N350 BILLION IN COMBINED RIGHTS ISSUE AND PUBLIC OFFER

ZENITH BANK MAINTAINS IMPRESSIVE  TRACK RECORD AS PBT HITS N1.3 TRILLION, PROPOSES N4.00 FINAL DIVIDEND

Zenith Bank Plc has announced its audited financial results for the year ended December 31, 2024, delivering   significant   growth   across   key   performance   indicators.   The   Bank’s   impressive performance reflects effective management and pricing of its risk assets, as well as an optimized treasury portfolio, reinforcing its position as a leader in Nigeria’s banking industry.According to the audited financial results for the 2024 financial year presented to the Nigerian Exchange (NGX), the Bank recorded a double-digit year-on-year (YoY) growth of 86% in gross earnings, increasing from N2.13 trillion in 2023 to N3.97 trillion in 2024.
This growth was driven by a 138% increase in interest income, supported by investment in high-yield government securities, and growth in the Bank’s loan book.Commenting on the results, Dame Dr Adaora Umeoji OON, Group Managing Director/CEO, stated “This year’s performance underscores our unwavering commitment to innovation and customer-centric solutions. We will also remain focused on deepening financial inclusion, enhancing service delivery, and creating value for our customers and stakeholders.Zenith Bank’s profit before tax (PBT) rose by 67%, reaching N1.3 trillion in 2024 from N796 billion in 2023, driven by a combination of top-line expansion and efficient treasury portfolio management. Net interest income increased by 135% from N736 billion in 2023 to N1.7 trillion, reinforcing the Bank’s strong core  banking  performance and ability to grow earnings despite macroeconomic headwinds.
Non-interest income also grew by 20% from N919 billion to N1.1 trillion. The Bank’s total assets grew by 47% from N20 trillion in 2023 to N30 trillion in 2024, underpinned by a strong liquidity position and effective balance sheet management. Customer deposits surged by 45% from N15 trillion to N22 trillion in 2024, reflecting a historically strong corporate deposits portfolio and a sustained increase in retail deposits. The increase in retail deposits was driven by customer acquisition and the Bank’s strategic focus on low-cost funding.Return on Average Equity (ROAE) declined to 32.5% on the back of the injection of new capital, while Return on Average Assets (ROAA) remained unchanged at 4.1%. The Bank’s cost-to-income increased slightly from 36.1% to 38.9%, despite inflationary pressures. Its Non-Performing Loan (NPL) ratio stood at 4.7%, with a coverage ratio of 223%, underscoring the Bank’s prudent risk management   and   commitment   to   maintaining   a   resilient   loan   book,   ensuring   stability   and confidence in the Bank’s operations.Given the good earnings performance, the Bank has proposed a final dividend of N4.00 per share, which brings the total dividend for the year to N5.00 per ordinary share. In a significant milestone, Zenith Bank successfully raised N350 billion in capital through a rights issue and public offer, with a subscription rate of 160%, demonstrating strong investor confidence  in the Bank’s growth trajectory.
The proceeds from this capital raise will be strategically deployed to enhance technology infrastructure, strengthen liquidity, and support the Bank’s expansion into key African markets, unlocking new growth opportunities. The bank remains focused on delivering sustainable growth, enhancing shareholder value, and driving financial inclusion through innovative banking solutions. With its solid capital base and innovative product offerings, the Bank is well-positioned to navigate evolving market conditions while continuing to strengthen its leadership in the Nigerian financial landscape.Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine. The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; and Best Bank in Nigeria for four times in five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards.Further recognitions include Best Commercial Bank, Nigeria for four consecutive years from 2021 to   2024   in   the   World   Finance   Banking   Awards   and   Most   Sustainable   Bank,   Nigeria   in   the International   Banker   2023   and   2024   Banking   Awards.   Additionally,   Zenith   Bank   has   been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance  Awards   for   2022,   2023 and 2024  and   ‘Best   in Corporate  Governance’   Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom. The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 and 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BAFI Awards.
The  Bank   also   received   the   accolades of  Best   Commercial   Bank,   Nigeria   and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards. Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics.

Continue Reading

Business

From Dust to Dreams: Young Miner Builds House for His Parents at Just 13!

Published

on

From Dust to Dreams: Young Miner Builds House for His Parents at Just 13!

13-Year-Old Boy Builds House for Parents with Earnings from Local Mines – A Tale of Grit and Determination!

In an astonishing feat of resilience and hard work, a 13-year-old boy from Akun Ejiba, Agidi Development Area, in Nasarawa Eggon LGA of Nasarawa State, has built a house for his parents using earnings from his labor in local mines.

The young boy, whose identity is yet to be disclosed, reportedly spent countless grueling hours working in the hazardous local mining fields, saving every possible naira to achieve this remarkable goal. His unwavering determination and deep sense of family loyalty have left the entire community in awe.

A Child’s Sacrifice, A Parent’s Pride

From Dust to Dreams: Young Miner Builds House for His Parents at Just 13!

Sources within the community confirm that the boy took on the backbreaking labor at an age when most children are in school or at play. Yet, instead of spending his earnings on personal desires, he selflessly dedicated them to constructing a home for his struggling parents—a feat many adults struggle to achieve in a lifetime.

His hard work, resilience, and selflessness have not gone unnoticed. Members of the community have hailed him as a symbol of dedication and sacrifice, calling for support to ensure he gets an education and a better future.

Mixed Reactions: Inspiration or a Reflection of Society’s Harsh Reality?

While the story has been celebrated as inspirational, it also raises concerns about child labor and the harsh economic realities forcing young children into dangerous jobs. Some argue that no child should have to endure such hardship to provide for their family.

Many are now urging the government, NGOs, and well-meaning individuals to intervene, ensuring that this young hero is given the opportunity to pursue his education and live the childhood he deserves.

What’s Next for the Young Builder?

As his story spreads, there are calls for support and scholarships to lift him from the mines and into the classroom. Will the government step in? Will generous benefactors come to his aid?

For now, this 13-year-old has etched his name in history as a child whose love for family defied the odds, proving that even the smallest hands can build the biggest dreams.

Continue Reading

Business

Pedalling Through Time: The 75-Year-Old Ice Cream Vendor Who Refuses to Quit

Published

on

Pedalling Through Time: The 75-Year-Old Ice Cream Vendor Who Refuses to Quit

Pedalling Through Time: The 75-Year-Old Ice Cream Vendor Who Refuses to Quit

In the bustling heart of Lagos Island, where the streets never sleep, one man has quietly defied time, hardship, and the odds for over 57 years—armed with nothing but a bicycle, sheer determination, and an undying work ethic.

At 75 years old, Oladimeji Lawal, affectionately known as “Felele” or “Pandy Joe,” still pedals through the ever-chaotic roads of Lagos, selling ice cream to generations of schoolchildren and residents. While many of his peers have long retired, he continues to ride, not out of passion alone, but because he has no pension, no retirement plan, and no financial safety net.

From a Young Cycle Boy to a Lagos Island Legend

Born in Ibadan in 1950, Lawal’s life took an unexpected turn in 1968 when he was hired as a cycle boy for an ice cream business. His exceptional riding skills landed him the job, but it was a tragic accident in Ibadan that altered his course. Encouraged by customers, he moved to Lagos in 1969, hoping for better fortune.

The move paid off—for a time. Business was booming, and in the golden years of ice cream vending, he earned enough to rent an apartment in Maroko and even buy land—a crucial step toward securing his future.

But fate had other plans.

In 1990, his dreams crumbled overnight when the military government of Raji Rasaki demolished the entire Maroko community, rendering thousands homeless—including Lawal. His hard-earned land was gone, and with it, his hopes for a comfortable future.

A Lifetime of Pedalling, No End in Sight

As ice cream sales declined in the late 1980s, reality hit hard—Lawal had no retirement benefits, no savings, and no way out. By the time he realized this, he was already in his 50s, too late to start over. The bicycle became both his burden and his lifeline.

While some of his former customers became successful, he remained on the streets, witnessing the city evolve around him. Some of these prominent figures even bought him a new bicycle when his old one gave out, but Lawal never once resorted to begging.

“The only benefit we get from the company is a raincoat every ten years,” he lamented. “They used to repair our bicycles, but not anymore.”

Dreams of a Shop, A Hope for Rest

Now at 75, age has caught up with him. He takes more breaks, his body weary from decades of pedalling. But he still dreams—not of wealth, but of a small shop where he can store ice cream and soft drinks, so he doesn’t have to roam the streets all day.

“If I don’t ride my bicycle for a day, I feel weak. My body is already used to it.

A Man of Honor, A Life of Sacrifice

Despite the struggles, Lawal refuses to be a burden to his children, insisting they focus on their own lives. He has outlived his wife, lost everything he worked for, yet still wakes up every morning at 8 a.m., mounts his bicycle at 9 a.m., and pedals until sundown.

And while others chase riches, Lawal holds onto something far more profound: his name, his dignity, and his unbreakable spirit.

“At least, I am not begging for alms,” he says with quiet pride. “For that, I give thanks to God.

A Cry for Help or A Story of Resilience?

Pa Lawal’s story is as inspiring as it is heartbreaking. It is a testament to hard work, sacrifice, and the brutal reality of life without financial security. The question remains: Will society step in to help this Lagos icon finally rest, or will he pedal until the very end?

Continue Reading

Cover Of The Week

Trending