Connect with us

Business

FIRSTBANK WINS 2024 BEST SME BANK IN NIGERIA AND BEST SME BANK IN AFRICA BY ASIAN BANKER AWARDS

Published

on

FIRSTBANK WINS 2024 BEST SME BANK IN NIGERIA AND BEST SME BANK IN AFRICA BY ASIAN BANKER AWARDS

 

Nigeria’s premier financial institution and financial inclusion services provider has bagged two awards: Best SME Bank in Africa and Best SME Bank in Nigeria at the highly converted Asian Banker Global Excellence Retail Awards 2024.

 

FIRSTBANK WINS 2024 BEST SME BANK IN NIGERIA AND BEST SME BANK IN AFRICA BY ASIAN BANKER AWARDS

The Excellence in Retail Finance Awards Programme, which includes the Global Excellence in Retail Finance Awards and The Annual Digital Bank Awards, is one of the most established awards of its kind, recognising exceptional innovation, leadership, management, and performance in the financial sector.

The 130-year-old institution bagged these two awards because of its full suite of solutions across its franchise to serve the needs of medium and small enterprises in regard to core financial needs and offer flexible financing options across the entire lifecycle needs of customer’s business.

According to The Asian Banker’s Strategic Business Intelligence for the Financial Services Community “FirstBank demonstrated exceptional performance, notably in its SME sector, by achieving more than 100% revenue growth while maintaining a reduced cost-to-income ratio of 16.5%. Small and medium-sized enterprises contributed 26% of overall bank revenue. Furthermore, the institution’s SME customer base grew by 7%, reaching a total of more than one million. For its significant growth in the SME business, the award for Best SME Bank in Nigeria and in Africa goes to FirstBank”.

FirstBank supports its customer by providing exceptional value proposition around each industry sectors, digital innovation of the bank’s processes and financing options, and a strong relationship banking approach to create best in class customer engagement. The Bank’s integrated platform not only help businesses grow and reduce operational costs but also facilitates expansion into regional and overseas markets through its Sub-Saharan Africa subsidiaries.

Expressing her delight on the recognition, the Group Head, Marketing & Corporate Communications, Ms. Folake Ani-Mumuney said: “We thank the Asian Banker Awards for the recognition and dedicate these awards to our esteemed SME customers that have progressively impacted the socio-economic growth of not just Nigeria but also the African continent given their critical role as the engine of any economy.

“For 130 years, FirstBank has continued to enable the giants in our customers including our SMEs as well as other stakeholders, and we remain committed to delivering the ultimate ‘gold standard’ of value and excellence.” she concluded.

Amongst other awards, FirstBank recently added to its awards kitty, Best Private Bank in Nigeria and Best Private Bank for Sustainable Investment in Africa by Global Finance, for its exceptional leadership in integrating sustainable practices into its banking operations

Business

Land Grabbing Allegation: Owoeye Replies House of Assembly, Salutes Lands Committee on move to broker peace in Ogun

Published

on

Land Grabbing Allegation: Owoeye Replies House of Assembly, Salutes Lands Committee on move to broker peace in Ogun

………..Owoeye said the family that sold the properties to him has written petitions to Ogun State House of Assembly, Police, DSS, Attorney General on several occasions to validate his proof of ownership on the lands but no reactions

……Says he is an investor, the family that sold the land to him should be dragged and not him

…..Clears the air on the allegations of land Grabbing, said he is a legitimate real estate owner and not a grabber.

 

The Popular Real Estate mogul, Alhaji Mutairu Owoeye has replied the allegations of land Grabbing as addressed by the Ogun state House of Assembly in a publication released today 4th of July 2024.

According to the publication, Alhaji Mutairu Owoeye was invited by the House of Assembly alongside Ademola Owoeye, Garba Owoeye, Sina Oladunjoye and Taoheed Bayo, Secretary Lasabi Family in connection with an alleged case of forcible occupation of landed properties of some communities within twelve (12) Community Development Associations (CDAs) at Obada-Oko, in Ewekoro Local Government Area of the State.

Alhaji Mutairu Owoeye, while commending the Chairman of House Committees on Lands and Housing as well as Justice, Ethics and Public Petitions, Hon. Damilola Soneye for his actions to broker peace to land dispute in Ogun state, he also charged him to follow due process when inviting people as a learned legislator.

 

He said the family who sold the land to him has written petitions to the Ogun State house of assembly earlier before now on several occasions,also to the Nigeria Police Force, department of state security DSS, Attorney General of Ogun State, and all other institutions that deals with land disputes with documents to proof their ownership as the original owner of the said lands but the now complaints show cause of their ownership.while the assembly members doesn’t work on the petitions.

“I am very surprised when I read the publication released by Ogun State House of Assembly today sending invitation to me through the media, I expected the Chairman of House of Assembly Committee on Lands and Housing as well as Justice, Ethics and Public Petitions to address invitation appropriately instead of the public threat and calling of names as land grabber” Owoeye said.

“As an experienced real estate business man and law abiding citizen of Nigeria, I ensure I purchase properties with valid documents to avoid any problems, general public should disregard the calling of names, it is one of the hazard of our business.” He added.

He said the invitation period is too short for him due to the fact that he is having a scheduled business trip abroad, promised to honour the committee by appearing before the House of Assembly on the 11th of July, 2024.

Continue Reading

Business

FIRS urges states to prepare for tax reforms

Published

on

FIRS urges states to prepare for tax reforms

FIRS urges states to prepare for tax reforms

 

The Federal Inland Revenue Service (FIRS) Chairman, Dr. Zacch Adedeji, has urged state governments to brace up for the tax reforms about to be released.

 

FIRS urges states to prepare for tax reforms

Adedeji emphasised the importance of a robust Internal Generated Revenue (IGR) system at 155th Meeting of the Joint Tax Board (JTB) in Suleja, Niger State. He enjoined the state governments on the need to optimise revenue collection “for socioeconomic and human development.”

According to him, “at this critical point in time, it is necessary to strengthen the fabric of our IGR capacity to ensure that the revenue administration processes, especially at the subnational level, become as efficient as possible to optimise the collection of IGR for socioeconomic and human development,” Dr. Adedeji stated.

 

Adedeji acknowledged the ongoing tax reform efforts led by the Presidential Fiscal Policy and Tax Reforms Committee, stressing that “we must begin to look ahead to how these reforms will impact revenue authorities across all government levels”.

Tax Reforms panel proposes 1% ‘Cost of collection’ for Customs, FIRS, NPA, others
He expressed confidence that diligent implementation of innovative approaches could lead to a monthly IGR target of N5 billion for Niger state.

Governor Mohammed Umar Bago of Niger State, represented by Mustapha Ndajiwo, the Commissioner for Budget and National Planning, presented a case study of successful IGR improvement in the state.

Ndajiwo revealed a rise in Niger State’s IGR, with an average monthly collection of N2,621,710,688.94 between January and May 2024, compared to N1,806,280,088.25 in the same period last year. May 2024 alone saw a collection of N3,508,389,805.20, representing a 45 per cent increase.

Ndajiwo attributed this growth to three key strategies: Niger State implemented strategic reforms and innovative approaches to tax collection. The state prioritized transparency, efficiency, and taxpayer education and Niger State actively collaborates with the Joint Tax Board, a forum for tax authorities across all government tiers. This collaboration allows for the exchange of ideas, best practices, and solutions to shared challenges in tax administration and revenue optimisation.

Continue Reading

Business

Court orders popular cleric Daddy Hezekiah to pay bank manager N10m for human rights abuse

Published

on

Court orders popular cleric Daddy Hezekiah to pay bank manager N10m for human rights abuse

 

 

A Federal High Court in Abuja has ordered popular Anambra cleric and founder of Living Christ Mission, Rev. Onokogu Hezekiah (also known as Daddy Hezekiah), to pay N10 million to Polaris Bank manager, Hezekiah Duru, for violating his fundamental human rights.

The cleric had filed a petition against Duru, accusing him of financial misappropriation and breach of trust, which led to Duru’s arrest and detention by the police.

However, Justice D. Okorowo ruled against Daddy Hezekiah and the Nigeria Police Force, stating that the arrest and detention of Duru was a violation of his fundamental human rights, especially since the allegation was already under investigation by the Economic and Financial Crimes Commission (EFCC).

In the suit: FHC/ABJ/CS/3/2024, Justice D. Okorowo also faulted the warrant order obtained from the Nasarawa State Magistrate Court.

The Court judgment by Justice Okorowo in favour of the Applicant, Duru, reads:

“A declaration is made that the arrest, detention and purported investigation of the Applicant from the 11th day of December 2023 till 29th day of December 2023 by the Respondents on the petition of the 1st Respondent on an allegation of financial misappropriation/embezzlement/cheating/breach of trust already being investigated is an infringement of the Applicant’s right to personal liberty, fair hearing, right to dignity of his person as enshrined in the Constitution of Nigeria 1999 and African Charter on Human and Peoples’ Rights.

“A declaration is made that the order/warrant for the detention of the Applicant obtained by the Respondents from the Nasarawa State Magistrate Courts is unlawful, an abuse of powers, an abuse of judicial process and an infringement of the Applicant’s right to fair hearing, and personal liberty.

“An Order is made directing the release of the Applicant, Amb. Dr Hezekiah Chinenye Duru forthwith from Police custody.

“An Order of injunction is made restraining the Nigerian police and its officers from arresting, detaining or further violating or doing anything capable of undermining, threatening or interfering with the fundamental rights of the Applicant, His Excellency Amb. Dr. Hezekiah Chinenye Duru.

“An award of 10 Million Naira damages jointly and severally against Rev Onukogu and the Nigerian police, the Inspector General of the Nigerian Police and ACP Asuqou (the officer in Charge of the Special Investigation Unit of the IGP office).” (The Nation: Text, Excluding Headline)

Continue Reading

Cover Of The Week

Trending