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FIRSTBANK’S FIRSTADVANCE – FINANCIAL EMPOWERMENT FOR GOOD REASONS

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8 months ago

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FIRSTBANK’S FIRSTADVANCE – FINANCIAL EMPOWERMENT FOR GOOD REASONS

Ade is a hardworking father in Lagos. Recently, fate dealt him a heavy blow when his young son, Tunde, fell scarily ill. Tunde’s illness struck suddenly, sending shockwaves through Ade’s world. As he watched his son grow weaker on a hospital bed with each passing hour, Ade felt an overwhelming sense of helplessness. The medical bills pushed to him only added to his despair, threatening to drown him. Ade found himself grappling not only with the fear of losing his beloved son but also with the burden of financial strain.

Desperate, Ade turned to FirstAdvance, a lifeline in his time of need. With its swift and convenient loan service, Ade was able to access the funds he so desperately required to pay for Tunde’s medical bills. Amid his darkest hour, FirstAdvance offered that lifeline, the ray of light that pierced through his despair.

Slowly but surely, Tunde improved; his emaciated body grew stronger with each passing day. And as he watched his son’s health gradually return, Ade knew that FirstAdvance had not only helped save Tunde’s life but had also given him permanent hope in times of financial challenges.

In diverse situations of need, a growing number of FirstBank account holders are finding solace in FirstAdvance, and for good reason – financial empowerment.

In the dynamic landscape of finance, digital lending has emerged as a vital tool for economic empowerment, especially in developing economies. Recognising this, First Bank of Nigeria Limited, a pioneer in financial inclusion services, has introduced FirstAdvance, a groundbreaking digital lending solution aimed at providing convenient and swift access to cash for salary earners awaiting payment of their salaries.

FirstAdvance caters to the needs of salary earners whose accounts are domiciled with FirstBank and have received regular salaries for the past two months or more. This innovative product ensures quick access to funds with maximum amounts varying based on the chosen variant. For the 30-day variant, customers can access up to 50% of their net monthly income, with a maximum limit of N1,000,000, while the 3-month variant allows for up to N2,000,000, subject to 75% of the net monthly salary.

The process of availing FirstAdvance is seamless and can be initiated via the bank’s digital channels, either by dialing *894*11# and selecting FirstAdvance on USSD or through the user-friendly FirstMobile App. What sets FirstAdvance apart is its user-centric features such as:

Swift Processing: With FirstAdvance, obtaining a loan is as quick as a minute, ensuring timely assistance during financial emergencies.

Flexible Tenor: Customers can choose between a 30-day or 3-month repayment period, aligning with their pay cycle for added convenience.

Transparent Fees: FirstBank ensures transparency by collecting all fees, including interest rates, upfront upon loan disbursement, empowering customers with clarity and predictability in their financial transactions.

Automated Risk Acceptance: The Risk Acceptance Criteria for FirstAdvance is automated, streamlining the process and ensuring fair assessment without unnecessary delays.

Continuous Support: Beyond FirstAdvance, FirstBank extends its support to customers across all income bands with offers like Personal Loan Against Salary (PLAS), providing long-term loan solutions with convenient repayment plans of up to 60 months. The maximum amount a customer can get on PLAS is N100m.

Since its inception, FirstAdvance has witnessed remarkable success, with over 450 thousand unique customers benefiting from over 9.4 million successful transactions, totaling over 225 billion naira in disbursed loans.

Although digital lending has become ubiquitous, FirstAdvance stands out to be among the most competitive in the industry.

In an era marked by digital transformation, FirstBank remains at the forefront, leveraging technology to deepen financial inclusion and empower individuals and households across Nigeria. Whether it’s addressing immediate financial needs or providing long-term financial solutions, FirstBank continues to be a trusted partner in the journey toward economic prosperity.

For salary account holders with FirstBank seeking quick and hassle-free access to loans, FirstAdvance stands as a reliable solution. Dial *894*11# or initiate your loan request via the FirstMobile App today and transform your financial goals into reality with FirstBank.

In times like these, when inflation is eroding Nigerians’ wealth daily, there will always be an increasing need for that lifeline. FirstAdvance, powered by FirstBank, stands ready to continually meet its customers’ financial needs during that time of need, literally within one minute.

Culled from Nairametrics.

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Sahara weekly online is published by First Sahara weekly international. contact [email protected]

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DECEMBERISSAVYBE: FIRSTBANK SPONSORS ‘THE CAVEMEN CONCERT’, THRILLS AUDIENCE   By Oladapo Sofowora

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3 days ago

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December 31, 2024

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DECEMBERISSAVYBE: FIRSTBANK SPONSORS ‘THE CAVEMEN CONCERT’, THRILLS AUDIENCE

 

By Oladapo Sofowora

 

December is a particularly vibrant and deeply meaningful month in Nigeria, imbued with a palpable sense of excitement and celebration that permeates the air. As daily life slows down, this festive season offers a welcome opportunity for relaxation and togetherness. Families and friends gather to create cherished memories, participating in a rich tapestry of cultural activities that showcase Nigeria’s diverse heritage. The month is characterized by a colourful array of events, including theatrical plays, musical concerts, traditional festivals, operas, fashion shows, poetry readings, and various forms of performance arts, all reflecting the dynamic cultural expressions of Nigerian society.

As December unfolds, the excitement continues to build, with streets and homes becoming vibrant displays of holiday spirit. Elaborate decorations adorn every corner, featuring colourful Christmas ornaments, twinkling lights, and festive paraphernalia that evoke a sense of wonder and joy. Evening skies light up with breathtaking fireworks, illuminating the night and further enhancing the joyous mood of the season. Year-end Thanksgiving parties have become commonplace, offering spaces for loved ones to gather, share meals, and express gratitude for the blessings and experiences of the past year. This period also allows Nigerians to reconnect with family and friends, many of whom travel from various parts of the globe to partake in these significant celebrations.

As the year-end festivities for 2024 draw near, FirstBank has thoughtfully curated an exhilarating lineup of events under the DecemberIssaVybe program, aimed at enhancing the enjoyment of this festive season. A highlight of this initiative is the much-anticipated concert featuring The Cavemen, a celebrated musical duo. Which was held on Friday, December 27, 2024, at Muri Okunola Park, located along the bustling Lekki-Epe Expressway, the event brought Lagos to life with a captivating performance that seamlessly blends highlife, soul, and folk music. Attendees enjoyed an engaging experience filled with mesmerizing sounds for over an hour, keeping them on their feet and immersed in the rhythm.

The atmosphere at the concert was electrifying, drawing a diverse crowd of enthusiastic youth eager to experience The Cavemen’s unique interpretation of highlife music—a genre deeply rooted in Nigerian culture and characterized by its rich, rhythmic beats and soulful melodies. The concert also featured an impressive lineup of other notable artists, such as the popular act Ckay, who collectively contributed to a night filled with remarkable entertainment and unforgettable performances.

The stage witnessed a pulsation of energy as The Cavemen’s talented band propelled the evening forward, delivering an infectious performance marked by masterfully executed guitar riffs, powerful drumming, and enchanting vocals. Audiences found themselves wholly absorbed in the moment, as the music unites them in joy and celebration, showcasing the revitalization and redefinition of the highlife genre that The Cavemen have pioneered.

In addition to the music, the concert artfully integrates comedic performances, highlighting the vibrant and diverse creative entertainment scene in Africa. Acclaimed comedians took to the stage, drawing laughter and delight from the crowd, while emerging music also had their moment in the spotlight, receiving enthusiastic applause and encouragement from an appreciative audience.

Recognising the profound impact of December in nurturing relationships and spreading joy, FirstBank has actively engaged its First@arts initiative to launch the annual DecemberIssaVybe campaign. This initiative is meticulously crafted to inspire and empower individuals across Nigeria to create and experience exhilarating moments throughout this joyous season. By providing fully sponsored access to premium concerts, theatrical performances, shows, and festivals featuring some of the industry’s top entertainers, FirstBank aims to alleviate the financial burdens that often accompany festive celebrations.

In a time marked by economic uncertainty, FirstBank stands as a crucial support system for Nigerians wishing to celebrate without the weight of added financial stress. With a proud legacy spanning over 130 years, this esteemed financial institution has woven itself into the fabric of Nigerian life. FirstBank has long championed numerous festive concerts showcasing Africa’s music icons, including Kizz Daniel, Davido, Burna Boy, Asake, and Tiwa Savage, crafting unforgettable experiences for music aficionados across the nation.

The DecemberIssaVybe campaign encapsulates the essence of creating lasting memories during this festive season. It serves as a dynamic platform for both local and international audiences to immerse themselves in unique, culturally rich experiences tailored to the holiday spirit. Since its inception in 2018, the FirstBankIssaVybe campaign has quickly become a highly anticipated annual event, delighting participants with exhilarating moments designed to resonate and linger long after the celebrations are over.

Olayinka Ijabiyi, the Acting Group Head of Marketing & Corporate Communications at FirstBank, emphasized the institution’s unwavering commitment to crafting a ‘Wow December to Remember’ experience for individuals of all ages. He stated, “FirstBank is devoted to facilitating memorable homecoming experiences this December through gatherings such as weddings, family reunions, and festive celebrations, ensuring that every moment spent together is cherished.” Through this commitment, FirstBank continues to play a pivotal role in the celebration of culture and community during this significant time of year.

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Polaris Bank, Partners support 16,000 Students to reduce Out-of-School Children in Nigeria

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4 days ago

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December 31, 2024

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… Distributes school essentials to 1,000 students across 10 public schools in 5 states

 

Lagos, Nigeria- December 30, 2024: Polaris Bank, in partnership with key stakeholders, has reaffirmed its commitment to combating the alarming rate of out-of-school children in Nigeria.

Through its targeted interventions, the Bank has ensured continuous education for over 15,000 students, providing them with the opportunity to learn, thrive, and contribute to a better future.

While the initiative primarily focuses on empowering the girl child, male students in the targeted schools were not left out reflecting the project’s inclusive approach.

Polaris Bank’s collaboration with strategic partners has further strengthened its efforts to combat the scourge of out-of-school children in Nigeria. Since 2020, these collaborative efforts have ensured continuous education for 16,000 students, showcasing the transformative impact of teamwork in fostering positive societal change.

The initiative which includes empowering young learners with brain training techniques and emotional intelligence education alongside making and distributing school essentials (bags, uniforms, sandals, books, and pens) aligns with the United Nations (UN) Sustainable Development Goals (SDG) 4 which ensures inclusive and equitable quality education for all, is targeted at Nigeria’s most vulnerable communities, where over 20 million children lack access to basic education, according to UNESCO.

This phase of the initiative targeted schools across diverse regions of the country, providing needed school essentials such as; school bags, sandals, uniforms, books, and pens to students. Research has shown that the lack of one or two of these basic school essentials has been a significant barrier to school enrolment, contributing to the alarming number of the scourge of out-of-school children in Nigeria.

Polaris Bank’s Managing Director/CEO, Kayode Lawal speaking on the education initiative charged students to embrace opportunities that education offers saying that the intervention is in line with the Bank’s ongoing sustainability efforts aimed at reducing Nigeria’s current out-of-school children population and increasing access to quality education, especially for the girl-child.

As part of its broader mission, Polaris Bank between November and December 2024 visited eight schools across various states, including Opebi Junior Grammar School in Lagos, National High School Arondizuogu; Iheme Memorial Secondary School; Akokwa High School in Imo State, Government Girls Secondary School, Kundila in Kano, Fortune Secondary School in Kogi, and Government Day Junior Secondary School, Maitama in Abuja, with that of Gbaja Junior and Secondary School, both in Surulere, Lagos moved to mid January 2025.

The program aims to support 50,000 students by 2028, building on its current impact of 16,000 students across nine states.

Beyond the provision of school essentials to indigent students of public schools, the initiative also embeds the Brighter Minds Programme, a transformative project bringing innovative brain-training techniques and emotional intelligence education to young learners.

This program has achieved remarkable milestones, expanding access to a holistic learning approach that builds resilience, focus, and confidence in students.

Each pilot group represents a new step in the journey of empowering young minds with life skills, made possible by the unwavering support of Polaris Bank, partners like EvolveCSR, schools, and parents.

Complementing this educational intervention, is the Inspire Teachers Training Program, a 3-day value-based education initiative aimed at equipping teachers with critical soft skills and alternative teaching methodologies.

This program explores topics such as heartful teaching, facilitation techniques, heterogeneous learning strategies, effective communication, heart-centered education, self-connection, and moral skill development.

Teachers who complete the program receive certificates and are encouraged to share their knowledge by training peers, fostering a ripple effect that promotes a soft-skills-driven approach to education.

While the initiative has made significant strides, the final batch of schools to be visited—Gbaja Girls Junior and High Secondary School, Surulere, Lagos — has been postponed to January 2025. This adjustment highlights the Bank’s commitment to ensuring no child is left behind in its drive to provide access to quality education.

Polaris Bank remains resolute in its mission to bridge educational gaps, ensuring a brighter future for Nigeria’s youth through impactful and sustained interventions.

By empowering students and supporting educators, the Bank continues to lead efforts to transform the lives of Nigeria’s future leaders.
Polaris Bank, Partners support 16,000 Students to reduce Out-of-School Children in Nigeria

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NCC Approves Disconnection of Exchange Telecommunications from MTN Network Over Unpaid Interconnect Charges

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7 days ago

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December 28, 2024

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NCC Approves Disconnection of Exchange Telecommunications from MTN Network Over Unpaid Interconnect Charges

NCC Approves Disconnection of Exchange Telecommunications from MTN Network Over Unpaid Interconnect Charges

The Nigerian Communications Commission (NCC) has approved the disconnection of Exchange Telecommunications Ltd. from MTN Nigeria’s network due to the company’s failure to settle outstanding interconnect charges.

In a public notice issued on Friday, Reuben Muoka, the NCC’s Director of Public Affairs, announced that the disconnection would take effect within five days and remain in place until further notice.

“The Nigerian Communications Commission hereby notifies the public that approval has been granted for the disconnection of Exchange Telecommunications Ltd. (Exchange) from MTN Nigeria Communications Ltd. (MTN) as a result of non-settlement of interconnect charges,” the statement read.

Exchange Telecommunications Faces Regulatory Action

Exchange Telecommunications, which serves as a local and international interconnect carrier, had been notified of MTN’s application to disconnect its services and was given an opportunity to respond. However, the NCC concluded that the company’s explanation for its inability to pay the charges was inadequate.

The regulatory action is in line with Section 100 of the Nigerian Communications Act, 2003, and the Guidelines on Procedure for Granting Approval to Disconnect Telecommunications Operators, 2012.

Timeline and Implications

The NCC directed MTN Nigeria to cease routing voice and data traffic through Exchange Telecommunications five days from the date of the notice. The notice also stipulated that MTN would use alternative channels to ensure seamless interconnectivity with other network service providers after the disconnection.

“At the expiration of five days from the date of this notice, MTN will discontinue passing voice and data traffic through Exchange and will, thereafter, utilise alternative channels in interconnecting with other network service providers,” the NCC clarified.

Ensuring Regulatory Compliance

The disconnection underscores the NCC’s commitment to enforcing financial and operational obligations in Nigeria’s telecommunications industry. The commission reiterated the importance of interconnectivity standards to maintain uninterrupted services for consumers.

This move reflects the NCC’s role in upholding regulatory standards and ensuring that operators meet their obligations within the competitive and highly interconnected telecom sector in Nigeria.

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