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FirstBank Employees Making a Difference in their Immediate Environments

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RE: FIRSTBANK OFFICIAL STATEMENT 

How FirstBank Employees are Making a Difference in their Immediate Environments Through the SPARK Initiative

 

 

 

 

 

 

Sahara Weekly Reports That FirstBank Employees are Making a Difference in their Immediate Environments Through the SPARK Initiative. Every other day, social media brings us a picture or video of a dilapidated school somewhere in Nigeria or shares images of a distraught widow, a struggling roadside trader or street hawker or some other hapless victims of the extremely harsh realities of living in Nigeria. Immediately, as if on cue or automated, viewers launch into stinging attacks of government, public officials, the privileged class, and even Nigeria itself. The attacking mob wastes no time in calling for the government’s head or the heads of public officials with responsibilities in the jurisdiction or sector where the unfortunate sights surfaced from.

 

 

 

 

 

FirstBank Employees Making a Difference in their Immediate Environments

 

 

 

The online mob seems unconcerned that while its eyes and ears, aided and locked in by the binoculars and headsets of social media, are completely focused on distressing situations it may not be able to help other than rant about, countless situations that it can help are calling for attention in its immediate neighborhood every single day. Focusing on things so far away while ignoring or pretending not to see the things in one’s immediate vicinity is a human tendency that is well recognized. Journalists even have a term for a similar or related behavior among their own. “Afghanistanism” is the tendency of the media to focus on news and happenings in remote places and other parts of the world to the exclusion or neglect of covering happenings and problems in the local environment of the media. It is like the psychological or emotional equivalent of the eye defect medical practitioners refer to as hyperopia or farsightedness. Sufferers can see objects that are far away but have difficulty focusing on objects that are up close.

 

 

 

 

 

 

 

 

 

By focusing on faraway objects people do not have to offer to give a helping hand but can offer their finger to point at others and their tongue to criticize and pontificate. Everyone can criticize and pontificate online or become an “e-warrior”, like Nigerians like to call it, fighting government and whoever and whatever in society they are unhappy with from the comfort and safety of their bedroom and behind their keyboard. It is the easiest of things to do but not the noblest or kindest. It is a well-trodden path but should never be confused with taking the high road in reaching out with compassion to people around whose lives and circumstances could do with some kindness.

 

 

 

 

 

 

 

 

 

Taking the high road rather than practicing Afghanistanism or psychological hyperopia is the approach adopted by First Bank of Nigeria Limited, the premier FirstBank in West Africa with its impact woven into the fabric of society. This approach has played an important role in sustaining FirstBank’s development-oriented services for over 127 years as the region’s foremost financial inclusion services provider. It has been a driving motivation for how the bank operates. FirstBank always considers the impact of all its operations and actions on customers and other stakeholders, including the environment, to ensure it is making a net positive difference in the end. And this orientation has attracted the bank people who share a similar outlook – whether as employees, partners, or other stakeholders. They look forward every year to an opportunity to follow in the footsteps of the bank and make a net positive difference in their immediate environments. These men and women do not pretend that they can solve or intervene in all the challenging situations confronting people in their immediate environments but they do not refrain whenever they can lend a helping hand and make a difference.

 

 

 

 

 

 

 

 

 

 

Through an Employee Giving and Volunteering program employees of FirstBank find a ready platform to fully identify with the compassionate disposition of the bank, which further has several initiatives that enable employees to give expression to this identification. The Start Performing Acts of Random Kindness (SPARK) Initiative is but one such initiative. Aimed at expanding and deepening FirstBank’s involvement within the communities of its various stakeholders, SPARK seeks to do so by integrating and institutionalizing random acts of kindness in society. Among employees, SPARK has inspired and encouraged kindness and empathy as well as consideration for others. It has also contributed to employee bonding and teamwork, which have been critical to enhancing work performance.

 

 

 

 

 

 

 

 

 

 

This year’s implementation of the SPARK Initiative has seen employees under the banner of their various departments make choices regarding the specific nature of intervention they would want to undertake and the specific group of people or institutions within their immediate communities that they would want to extend the milk of human kindness to. Employees and their departments could choose any one of the four areas that constitute FirstBank’s corporate responsibility and sustainability (CR&S) pillars: Education, entrepreneurship, health and welfare, and environment. Under education, they have had a choice to make between support for infrastructural facilities in schools, such as the renovation of dilapidated buildings, painting of school buildings, and provision of laptops and desktops; or donation of items such as classroom chairs and tables, books, and stationaries; or provision of scholarships for best students, feeding of school students per day or week, funding of a school initiative such as JETS club, Bootcamp, space club, etc. If employees and their departments were interested in supporting entrepreneurship, then they had the chance to empower through entrepreneurship programs of their choosing such as sponsoring youth and women to acquire skills like fashion designing, baking, hair styling, make-up artistry, electrical repairs, event decoration and planning, catering, etc., or enabling entrepreneurs with tools and equipment to work or supporting SMEs and start-ups.

 

 

 

 

 

 

 

 

 

Where the health and welfare area was their preferred area of intervention, employees and their departments could choose from: donations to orphanages (selected from an approved list of orphanages); support to a good cause, for example lending a helping hand to the Down Syndrome Foundation; support to widows; support to people with health-related issues; and off-setting medical bills. And if employees and their departments were to decide to go for the environment, then they could choose from: support to environmental issues, such as support to Nigerian Conservation Foundation (NCF) initiatives; donation of garbage cans to a community; partnership with a recycling firm to recycle waste; support to LAWMA such as donating cleaning tools (brooms, dustbin parkers), etc.

 

 

 

 

 

 

 

 

While several departments in FirstBank did things worth showcasing so the good citizens of Nigeria (individual and corporate) can emulate, this piece has just enough space to accommodate the activities of only three departments: Human Capital Management and Development (HCMD), Compliance, and Marketing and Corporate Communications (M&CC) departments. The employees in these departments seemed involved in efforts to outdo each other in acts of kindness, which made more sense and would leave a real difference on the ground as against criticizing and pontificating online on faraway issues.

 

 

 

 

 

 

 

 

 

The Human Capital Management and Development department decided that reaching out to one of the most vulnerable groups in Nigeria – underprivileged widows and their underfed children – was the best way they could stay true to the “Human” in their name. And employees in the department moved beyond their Marina location to the nearest environment where some of the most vulnerable widows are to be found to go show kindness. The Makoko community situated in Lagos Mainland and which CNN once described in a report as “Nigeria’s floating slum” was overwhelmed to receive the august visitors from HCMD bearing so much foodstuff to benefit their widows and children. What they did not realize was the overwhelming sense of gratitude felt by their benefactors for the opportunity to be able to give back.

 

 

 

 

 

 

 

 

Tagged “Feed a Widow Initiative”, the undertaking was HCMD employees’ way of putting a smile back on the faces of widows in impoverished communities and they got more than they could ever have imagined. Their hosts received them with the broadest of smiles and said goodbye to them with the grandest of gratitude, and they left with very broad smiles on their faces. The jury is still out on who between the hosts and their guests ended up with the broadest of smiles on the day. And given the “fierce contest” to outdo the other in smiling, one is again forced to wonder why people labeled e-warriors would choose to forfeit this kind of real joy for the joyless world they have locked themselves in by clinging on to Afghanistanism and psychological hyperopia.

 

 

 

 

 

 

 

 

 

 

Not so for employees in the Compliance department. Not to be outdone and as though going up the hierarchy of human needs, Compliance employees decided that they would focus on the education need of their beneficiary community. HCMD had done an excellent job of providing the basic “stomach infrastructure” without which it would be difficult, if not impossible, to get any of the beneficiaries interested in any talk about more sublime matters like education and mental development. So, employees of the Compliance department, to encourage pupils to continue their pursuit of education, procured Mathematics and English Language textbooks for 617 pupils who would be in senior secondary (SS) 1 and 2 classes of Gbara Community Secondary School in Jakande, Ajah in the next academic session. The visit to the school and book donation were undertaken when the pupils were in the third term preceding the new academic session.

 

 

 

 

 

 

 

 

 

The gesture was Compliance employees’ way of giving back in such a manner as to relieve the pupils of this public school, particularly those from indigent homes, and their parents or guardians of the financial burden involved in providing textbooks for the two core subjects. It was also, in an uncanny way, an attempt by the employees to ensure the pupils were in full compliance with the requirements for taking on the two most important subjects in the secondary school curriculum, putting the pupils at a vantage position to excel in these two essential subjects. There were other benefits of the engagement that the employees noted. They observed that their presence in the school inspired the children, giving them “hope that a better life was within reach and could be achieved.” The employees thus expressed optimism that the engagement boosted the children’s interest in succeeding in life through the pursuit of education.

 

 

 

 

 

 

 

 

 

For employees of the Marketing and Corporate Communications department (M&CC), entrepreneurship was the area they decided to focus on, to make a difference in their immediate environment. Every day they came to their office on Broad Street or the bank’s head office in Marina, they passed by several roadside traders around the various office buildings in the locations. They observed that some of these traders were exposed to the elements or having difficulties in their business and struggling to make ends meet, and decided that they would do something about it. And true to their word, they did something about it that made so much difference in the businesses and circumstances of the traders. They provided the traders the following: branded umbrella to offer shade from both sun and rain, improving the conditions under which they operated and their quality of life; branded chairs and tables to accommodate more customers in their corner as well as grants to boost their business capital.

 

 

 

 

 

 

 

 

 

Anyone who has met with employees in the corporate communications department of any major FirstBank in Nigeria would readily admit that these professionals have among them some of the most skillful digital marketers around. So, it is not for lack of skills to be e-warriors that M&CC employees chose to extend the milk of human kindness flowing in them to roadside traders around their office rather than practice Afghanistanism. They could have chosen to concentrate all their time and resources on attacking the government online and blaming public officials for all the challenges in the economy and the spate of insecurity all over the nation and whatever else would make M&CC employees true champions of Afghanistanism and psychological hyperopia. But would that make any difference to a lot of the roadside traders around them and lessen their burden? So, M&CC employees chose the road less traveled but one that could deliver the desired impact, and it did.

 

 

 

 

 

 

 

 

 

There are so many lessons to draw and feelings to take away from the examples demonstrated by employees of these three departments in Nigeria’s foremost lender. Besides committing their time and resources to their chosen humanitarian initiatives using the platform of the SPARK Initiative that places FirstBank at the forefront of the social impact space through employee advocacy, the employees have shown that they have the milk of human kindness flowing through their veins. They have demonstrated that they would rather consider how they could extend kindness to people around them and make a difference than pretend not to see the situations affecting those around them while playing Afghanistanism and psychological hyperopia online.

 

 

 

 

 

 

 

 

 

For the rest of us who are not FirstBank employees, the message could not be clearer: The next time we feel like we must share on social media distressing images to provoke government-bashing or we feel constrained to make stinging comments on such images that are shared to criticize Nigeria, we should first pause and look around us. We should look to see if we can identify situations where we, not the government of Nigeria, can make a difference. Then we should take our fingers off the keyboard and go out there or make that call that will make a difference in some other person’s life and circumstances. We should be like FirstBank and its employees. We should follow their example of trying to outdo themselves in showing kindness to others. We should start where we are with what we have, to make a difference right now – yes, this very minute and not some future time.

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BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally

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BREAKING: Court Dismisses $19.6 Million Claim Against NNPCL — Rules Contract Scope Cannot Be Changed Orally

 

In a landmark ruling on Friday, May 22, 2026, the Federal Capital Territory High Court in Abuja threw out a $19.6 million lawsuit filed by Alternate Dimensions Ventures Ltd against the Nigerian National Petroleum Company Limited (NNPCL), affirming a key legal principle: a written contract cannot be expanded through oral agreements or conduct.

Alternate Dimensions had sought $19,600,000 in professional fees, claiming the scope of its Direct Sale, Direct Purchase (DSDP e-pro) contract with NNPCL was orally expanded. Represented by counsel Patrick Peter, the firm argued it was entitled to the revised sum for services rendered under the alleged new terms.

But NNPCL, through its lawyer Ituah Imhanze of KENNA LP, pushed back sharply, arguing that parties are bound exclusively by the clear terms of their written agreement. Imhanze contended that without any written amendment, the claim was legally unsound, and the court agreed.

Delivering judgment, Justice Hamza Mu’azu upheld NNPCL’s defense, stating that the contract was unambiguous and that no evidence was adduced during the trial, which supported the alleged scope expansion. The court further found that NNPCL fully complied with all contractual terms and committed no breach.

Dismissing the suit as meritless, Justice Mu’azu reinforced the doctrine of sanctity of contract: any amendment to a written agreement must be express, unequivocal, and documented, not implied or verbal.

The ruling spares NNPCL from the S19.6 million claim and also a floodgate of similar potential liabilities.

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Advanced Neonatal and Pediatric ICU births in Ikeja

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Advanced Neonatal and Pediatric ICU births in Ikeja

 

 

Haven Pediatric Practice has officially launched a state-of-the-art Neonatal Intensive Care Unit (NICU) in Ikeja, Lagos State today.

This facility is a direct response to the urgent need for specialized care, bridging the gap between despair and survival for families in Lagos and beyond.

 

In the world over, the dream for every expectant mother is simple: to carry to term and hold a healthy baby. But when that dream is interrupted by preterm birth, the emotional toll is devastating. In Nigeria, currently ranked as one of the most challenging environments for premature infant survival, the stakes have never been higher.

But by synergizing cutting-edge technology with the highest level of professional expertise, Haven Pediatric Practice has assembled a dedicated team of Neonatologists and pediatric specialists. Recognizing that respiration is the greatest hurdle for “born too early” champions, the clinic has invested in top of the range ventilation technology capable of supporting infants weighing as little as 0.4kg.

The Chief Medical Director of Haven Pediatric Practice Dr. Adebajo Odedina told our correspondent at the event that,
“We aren’t just launching a ward; we are deploying a lifeline. By combining world-class ventilators with specialized, experienced medical hands, we are significantly increasing the chances of survival for even our smallest warriors.”

This expansion reaffirms Haven Pediatrics’ commitment to providing comprehensive, advanced care from the very first breath, ensuring that being born early no longer means losing the fight for life.

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Nigeria’s Booming Banks And A Collapsing Economy

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Nigeria’s Booming Banks And A Collapsing Economy

BY BLAISE UDUNZE

 

 

Nigeria’s banking industry appears to be booming, largely driven by the policies of the Central Bank of Nigeria (CBN), under Governor Olayemi Cardoso, while the real economy continues to suffocate.

 

 

 

At a time when millions of Nigerians are sinking deeper into poverty, when inflation continues to erode household incomes, when businesses are collapsing under unbearable operating costs, and when migration has become a survival strategy for many young professionals, Nigerian banks are announcing staggering profits, stronger capital positions and unprecedented liquidity growth.

 

 

 

According to the bank’s financial statements, the financial system appears healthy. In reality, the economy where citizens work, trade and survive is gasping for breath.

 

 

 

This growing disconnect between financial sector prosperity and economic suffering now represents one of the gravest threats to Nigeria’s long-term economic stability and its ambition of building a $1 trillion economy.

 

 

 

The numbers are indeed impressive. Nigerian banks’ shareholders’ funds reportedly surged to about N27 trillion following the recapitalisation exercise. The top five banks now command balance sheets estimated at over N164 trillion. Tier-1 banks collectively generated trillions in profits within the first quarter of 2026 alone, while the sector-wide recapitalisation exercise raised over N4.56 trillion.

 

 

 

Ordinarily, such figures should inspire confidence about the future of the economy. Stronger banks are expected to translate into stronger businesses, more jobs, industrial expansion and wider economic opportunities. But Nigeria’s experience is proving otherwise.

 

 

 

Instead of serving as engines of productive growth, banks are increasingly becoming custodians of liquidity trapped within the financial system itself. That is the real danger.

 

 

 

Even as banking liquidity expands sharply, lending to the productive economy remains weak and constrained. Reports indicate that banks parked a record N24.13 trillion with the CBN, while simultaneously increasing investments in government securities and treasury bills because these avenues are safer, more profitable and less risky than lending to businesses operating within Nigeria’s harsh economic climate. This reality exposes a dangerous contradiction.

 

 

 

A developing economy desperately in need of industrialisation, manufacturing growth, infrastructure expansion and job creation cannot afford a banking system that prefers financial safety over productive economic risk.

 

A sustainable economy cannot thrive where the real sector is starved of funds. Yet this is exactly where Nigeria now stands.

 

 

 

Despite the massive liquidity in the banking system, growth in lending to the private sector continues to lag behind the pace of liquidity expansion. The implication is clear. Financial sector strength is no longer translating into real economic development. This is not how healthy economies function.

 

 

 

Ordinarily, banks in developing economies are expected to operate as catalysts for economic transformation. Across successful economies, commercial banks finance manufacturing, agriculture, innovation, infrastructure and entrepreneurship because those sectors generate jobs, productivity and national wealth.

 

 

 

Small and Medium Enterprises (SMEs), especially, are globally recognised as the backbone of grassroots economic development. Nigeria is no exception.

 

 

 

SMEs account for over 70 percent of registered businesses, contribute nearly half of Nigeria’s GDP and generate between 84 and 90 percent of employment opportunities. Yet despite their overwhelming importance, SMEs reportedly receive barely between 0.5 percent and one percent of total commercial bank lending. That is not merely a policy failure. It is an economic tragedy.

 

 

 

Every denied SME loan is a denied employment opportunity. Every failed business represents another frustrated entrepreneur. Every frustrated entrepreneur becomes another Nigerian contemplating migration.

 

 

 

This is how economic dysfunction transforms into human displacement. The so-called “Japa” phenomenon did not emerge in isolation. It is deeply connected to economic hopelessness. When productive citizens lose faith in their country’s economic future, migration stops being a lifestyle choice and becomes a survival mechanism.

 

 

 

Unbeknownst to the policymakers is that Nigeria cannot realistically build a $1 trillion economy while productive sectors remain financially suffocated.

 

 

 

A closer glance at the trend of events helps to reveal that the danger becomes even more severe when viewed against the backdrop of the recent outcome of the 305th Monetary Policy Committee (MPC) meeting, where the CBN retained the Monetary Policy Rate (MPR) at 26.5 percent in its bid to sustain disinflation and macroeconomic stability.

 

 

 

It is understandable and certain that inflation control is important, but the fact is that at 15.69 percent, inflation remains painfully high and continues to weaken purchasing power. Food prices remain elevated. Transportation costs remain unbearable. Consumer demand is weakening. The middle class is shrinking rapidly.

 

 

 

But maintaining elevated interest rates also comes with painful consequences. Simple arithmetic tells us that higher interest rates mean higher lending costs. Higher lending costs mean higher production costs. Higher production costs worsen inflationary pressures and weaken business survival rates.

 

 

 

Invariably, this also tells us that for Nigerian manufacturers and corporates already battling a weak naira, volatile exchange rates, expensive diesel, energy insecurity and declining consumer demand, access to affordable credit is becoming almost impossible.

 

 

 

Many businesses are no longer borrowing to expand production or employ workers. They are borrowing merely to survive. This is economic suffocation.

 

 

 

Meanwhile, banks continue to profit massively from high-yield government securities and treasury investments. Reports indicate that major Nigerian banks generated over N6.68 trillion from investment securities and treasury bills instead of financing productive enterprises capable of stimulating growth and employment.

 

 

 

Government’s appetite for borrowing itself shows no sign of slowing down. Public borrowing reportedly climbed above N39 trillion. Historically, excessive government borrowing crowds out private sector investment because banks naturally prefer lending to government rather than exposing themselves to risks associated with businesses operating in unstable economic conditions.

 

 

 

The result is predictable. The real sector weakens while speculative and non-productive financial activities flourish. This explains why Nigeria increasingly resembles a financial system disconnected from the realities of ordinary citizens.

 

 

 

While banks celebrate rising profits, poverty and hunger worsen visibly across the country. Unemployment continues to rise. Small businesses are dying quietly. Household purchasing power is collapsing under inflationary pressure.

 

Yet the financial system appears more liquid than ever. That contradiction should alarm policymakers. The recapitalisation exercise itself now raises difficult questions.

 

What exactly is the purpose of stronger banks if stronger banks do not strengthen national productivity?

 

 

 

If recapitalisation merely empowers banks to deepen investments in government debt instruments while manufacturers, farmers, exporters and SMEs remain starved of affordable credit, then the exercise risks becoming financially impressive but economically hollow.

 

Indeed, the current monetary environment appears to reward financial conservatism over productive risk-taking.

 

 

 

The stringent Cash Reserve Requirement (CRR), elevated interest rates and broader macroeconomic uncertainty continue to discourage aggressive lending to the private sector. Banks understandably seek safety. But nations do not industrialise through excessive financial caution.

 

 

 

No economy develops when capital circulates primarily within treasury bills and government securities instead of flowing into factories, farms, logistics, housing, innovation and production.

 

This is the larger danger confronting Nigeria today. Economic crises rarely begin with recession statistics alone. Sometimes, they begin when financial institutions become detached from the suffering realities of the wider economy. They begin when growth exists only within banking balance sheets but disappears from households, factories and streets.

 

 

 

Without productive credit expansion, economic growth becomes artificial and exclusionary. Without affordable financing, businesses cannot scale. Without business expansion, jobs cannot emerge. Also, it must be noted that without jobs, insecurity, poverty and migration inevitably worsen. The implications for social stability are enormous.

 

 

 

One painful fact is that citizens already burdened by inflation, debt pressures and widespread distrust now face a system where economic opportunities continue shrinking despite apparent financial sector prosperity. One of the lurking dangers is that this deepens resentment, weakens confidence in institutions and threatens long-term economic cohesion.

 

 

 

The CBN’s inflation fight may be necessary, but monetary stability alone cannot substitute for productive economic expansion. Financial stability without inclusive growth eventually becomes unsustainable.

 

The real economy matters more than banking optics. Nigeria urgently needs policies that incentivise real sector lending, reduce structural risks facing manufacturers and SMEs, strengthen credit infrastructure, lower production bottlenecks and redirect liquidity toward productive economic activity.

 

 

 

As a matter of fact, it is high time for Nigeria to start rethinking the growing dependence on debt-driven fiscal management that continues to crowd out private investment. Development cannot occur when government borrowing consumes the financial oxygen needed by businesses.

 

 

 

Ultimately, banking profitability should not become an isolated island of prosperity surrounded by a collapsing productive economy.

 

 

 

A nation cannot celebrate trillion-naira banking profits while millions of citizens sink deeper into economic despair. No society sustains such a contradiction indefinitely.

 

 

 

If Nigeria truly hopes to build a resilient and inclusive economy, then the banking sector must once again become a vehicle for national development rather than merely a beneficiary of government debt and monetary tightening.

 

 

 

Otherwise, the country risks creating a contradictory economy where banks grow richer while citizens grow poorer and where financial prosperity exists only on paper while economic hardship defines everyday life.

 

Nigeria’s Booming Banks And A Collapsing Economy
BY BLAISE UDUNZE

 

Blaise, a journalist and PR professional, writes from Lagos and can be reached via: [email protected]

 

 

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