Business
FIRSTBANK HIGHLIGHTS ROLES OF SMES TO ECONOMY AT EHINGBETI LAGOS SUMMIT By Bolaji Israel
The Chief Exacutive Officer of FirstBank of Nigeria Limited, Dr Adesola Adeduntan, has restated the strategic importance of small and medium enterprises SMEs to the growth and development of the national economy.
Adeduntan saidthe path to the growth of Nigerian economy lies in growing the SME sector, and that informed why First Bank has deliberately provided robust support platforms for the critical SME sector.
Speaking during the plenary session at the 8th Ehingbeti/Lagos Economic Summit on Tuesday, 16 February 2021, the First Bank CEO said, “The path to the growth of Nigerian economy is by growing the SME sector.
SME is a very important aspect of what we do at FBN because of its importance to the overall growth and development of the economy.”
Adeduntan disclosed that ”By March 2021 First Bank will be 127 years old, and is by far the oldest and largest bank in Nigeria.
The reason we continue to thrive and endure as an institution is our support for businesses that are relevant to the overall growth and development of the economy and the SMEs is a practical example. Our portfolio of SME is quite sizeable, giving the history of the FirstBank and Nigeria.”
Enumerating the bank’s support for the sector, he explained: “At FirstBank, we have a dedicated portal called SME Connect running for about 6 or 7 years through which we provide support for SMEs.
We offer advisory services to ensure we up their skills and capabilities in either preparing basic accounts statements, choice of technology, and supporting them to work through the system.
We have continuously refined the SME Connect platform to conform with latest standards. For example, we updated it with relevant adjustments to the new Company and Allied Matters Act CAMA Law.
In some practical terms, we provide term loans, overdraft and all types of structured debt instrument to our SME Customers.
Dr Adeduntan further added that, “Very importantly, the Central Bank of Nigeria (CBN) as part of its economic stimulant plan provides more liquidity for banks to enable them lend more to SMEs. FirstBank is active in that space, and so are other banks too.
“The Bankers Committee which consists of CBN Governors and CEOs of Banks also collectively decided and intervened on SME. We set up a fund with 5% of Profit After Tax to create a pool of fund which is available for funding SMEs.
We understand their importance in keeping the economy growing to ensure we have a positive economy.”
“I am always inspired when I meet businesses that are now relatively big or sizeable telling me how 20, 30, 40 years ago FBN helped in supporting them to pick up from the ground” he concluded enthusiastically.
The three-day summit held virtually from February 16-18 themed “For a Greater Lagos: Setting the Tone for the Next Decade”, with about 150 speakers, drawn from across the world speaking on various issues, including Dr Ngozi Okonjo Iweala, the newly appointed Director General of the World Trade Organization, President Mohammad Buhari and Dr Akinwunmi Adesina, president, African Development Bank (ADB).
The Ehingbeti Summit is a great recent tradition in Lagos State which has served as the bedrock for developmental discourse, a platform for engaging a wide range of stakeholders in the Lagos success story and an invaluable tool for molding our growth over the past 20 years.
Jointly created by the private and public sector of Lagos State, Ehingbeti is not merely a platform for discussions but also a veritable tool for driving socio-economic and infrastructure development in the State.
The Summit aims to generate and implement tangible ideas and innovations, many of which have been successfully executed by Lagos State to the benefit of all.
Business
PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
*PUBLIC NOTICE*: Revalidation of UNIPGC Organizational Status
To prevent any misunderstanding regarding our affiliation with the United Nations, we hereby provide a formal clarification on the status and identity of the United International Peace and Governance Council (UNIPGC), formerly known as IPGC.
UNIPGC is an independent Civil Society Organization and Non-Governmental Organization with continental chapters registered in the United States, Germany, Canada, and several countries across Africa. The organization is committed to promoting the values and principles of the United Nations, particularly in advancing Sustainable Development Goal 16 (Peace, Justice, and Strong Institutions), as well as advocating for good governance globally.
In furtherance of its mandate, UNIPGC has established partnerships with reputable diplomatic civil society organizations, including the United Nations Association of Nigeria and the United Nations Association of Ghana. These collaborations are aimed at strengthening its engagement with initiatives aligned with United Nations ideals.
Additionally, UNIPGC has entered into diplomatic relations with the International Organization for Economic Development (IOED), an Intergovernmental Organization (IGO), to enhance its capacity for international cooperation and diplomatic engagement.
We wish to clearly state that UNIPGC is **not** an entity, agency, or organ of the United Nations.
Members of the public and media practitioners are respectfully advised to refer to the organization by its full and correct name: **United International Peace and Governance Council (UNIPGC)**, and not as the United Nations.
Thank you.
Business
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz Announces Strategic Partnership with First Bank of Nigeria Limited for 2026 International Tour
Laffmattazz, one of Nigeria’s foremost comedy and live entertainment brands, is pleased to announce its official partnership with First Bank of Nigeria Limited for the highly anticipated Laffmattazz 2026 International Tour, themed “Next Chapter: A New Season of Laughter.”
Now in its 15th year, Laffmattazz—the brainchild of renowned Nigerian comedian Gbenga Adeyinka (Gbenga Adeyinka 1st)—has evolved into a cultural phenomenon, celebrated for its seamless fusion of comedy, music, and live stage performances.
The 2026 tour, which kicked off on Easter Sunday, April 5th, 2026 at the Jogor Centre, Ibadan, marks a significant milestone in the brand’s journey. Building on over a decade of success across Nigeria, this year’s edition signals a bold expansion into the international market, with a multi-city run in Canada, alongside major stops in Akure, Abeokuta, and Lagos.
This strategic partnership with First Bank of Nigeria Limited underscores a shared commitment to excellence and innovation. It is also aligned with FirstBank’s First@Arts initiative—a significant and ongoing program dedicated to supporting the creative arts, entertainment, and cultural sectors. Through this initiative, FirstBank provides financing, advisory services, and actively fosters a sustainable value chain for artists and creative entrepreneurs, while supporting key industry platforms such as the Nigerian Entertainment Conference.
Speaking on the collaboration, the Laffmattazz team stated:
“We are delighted to welcome First Bank of Nigeria Limited as a strategic partner for the Laffmattazz 2026 International Tour. As we mark 15 remarkable years of Laffmattazz, this partnership reinforces our vision to take premium Nigerian entertainment beyond borders, while delivering even bigger, better, and more memorable experiences for our audiences.”
As a key partner, First Bank will enrich the tour through innovative customer engagement initiatives, experiential activations, and exclusive fan experiences across all tour locations.
With its distinctive blend of humor, culture, and live entertainment, the Laffmattazz 2026 Tour is poised to connect audiences across cities and continents, bringing laughter to thousands of fans worldwide.
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About Laffmattazz
Laffmattazz is a premier Nigerian comedy and entertainment brand, now in its 15th year, renowned for its vibrant live shows and nationwide tours. Founded by Gbenga Adeyinka 1st, the brand continues to deliver high-quality experiences that celebrate creativity, culture, and laughter.
About First Bank of Nigeria Limited
First Bank of Nigeria Limited is Nigeria’s oldest financial institution, widely respected for its legacy of trust, innovation, and customer-centric financial solutions that support economic growth and development. Through its First@Arts initiative, the Bank continues to play a pivotal role in empowering the creative industry and driving sustainable growth across the sector.
Business
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
MREIF is Better: FirstBank’s Mortgage Loan Is the Game-Changer for Home Ownership in Nigeria
Anyone who has tried to get a loan to buy a house in Nigeria knows the drill: endless forms, property valuation, and eventual down payment of a minimum 25% or more on the property. Sometimes, interest rates could go as high as 30% per annum, while the typical loan limit is N50 million.
Now, FirstBank is making homeownership more attractive.
FirstBank, in partnership with the Ministry of Finance Incorporated (MOFI), has introduced the MREIF Home Loan. MREIF loan is a game-changer, offering a single-digit interest rate of 9.75% per annum, with a loan amount of up to ₦100 million and a repayment period of up to 20 years. This is perfect for salaried individuals, including Nigerians in the diaspora, looking to purchase homes in approved locations.
The MREIF loan stands out with its lower interest rate, higher loan amount, and flexible equity contribution as low as 10%. This makes it an attractive option for those seeking affordable homeownership.
You are one quick decision away from being a landlord.
If you’ve been waiting for the right time to buy a home, FirstBank’s MREIF Home Loan is the smartest route to owning property in Nigeria today. Visit the FirstBank website https://www.firstbanknigeria.com/personal/loans/mreif-home-loan/ to get started.
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