Business
Shareholders Commend Access Bank’s 2019 Performance at AGM
It was commendation galore at the 31st Annual General Meeting (AGM) of Access Bank Plc held in Lagos as shareholders hailed the Board of Directors, Management and Staff of the of the Bank for the highly impressive performance for the 2019 financial year.
The meeting, which was held by proxy due to the COVID-19 pandemic, had three leaders of various shareholders’ association present.
Sir Sunny Nwosu of Independent Shareholders Association of Nigeria (ISAN), Mr. Owolabi Peters of Integrated Shareholders Association of Nigeria and Mrs. Bisi Bakare of Pragmatic Shareholders Association of Nigeria, said despite the challenging operating environment, Access Bank Plc did not only record improved results, but also rewarded shareholders with good a dividend that is very timely given the difficulties created by the COVID-19 pandemic.
For instance, Nwosu said Access Bank Plc had a good foresight by merging with defunct Diamond Bank Plc, noting that “the professional and seamless manner with which the integration was done should be commended and shareholders appreciate the board and management.”
According to him, the future remains very bright for the all shareholders, considering the synergy the merger has brought to the Bank and the expertise the management and staff continued to deploy to ensure Access Bank maintain a leading role in the retail banking space.
Nwosu also commended leading efforts of Access Bank in the private-sector led Coalition Against COVID-19 (CACOVID), supporting the Federal Government to fight the pandemic.
On her part, Mrs. Bakare said unlike some of its competitors, Access Bank has recorded increased profits in the past three years, noting that shareholders have confidence in the board and management to continue to deliver improved performance, going forward.
In his address, Group Managing Director/CEO, Access Bank Plc, Dr. Herbert Wigwe, said the Group delivered a 26 per cent increase in gross earnings of N666.8billion from N528.7billion in 2018, comprising interest in-come growth of 41 per cent from previous levels to N155.9billion despite declining interest rate environment.
“The effects of an enlarged loan book contributed significantly to the interest income growth of N155.9billion (+41 per cent y/y), leading to strong bottom-line figures. The net effect on operating income resulted in strong profit before tax (PBT) of N115.4billion as against N103.2billion in 2018. The strength of the performance reflects a growing franchise supported by digital capabilities and improving customer service touchpoints. The retail business gained momentum, leveraging opportunities in key sectors to consolidate market share dominance through our digital loans. The wholesale business also continued to soar in the year, following intense marketing drive and continued investment in the sector to deliver stronger synergies,” he said.
The Bank ended the year with profit after tax (PAT) of N97.509 billion, up from N94.981 billion and paid a final dividend of 40 kobo to bring the total dividend to 65 kobo per share.
Wigwe said the merger with Diamond Bank produced a truly diversified institution with remarkable retail presence and solid wholesale market share.
“This has propelled us towards achieving our five- year strategic objectives to create the largest bank in Nigeria by total assets as well as largest in Africa by customer base with over 36 million unique customers across the network. Using an agile approach and with strong dedication, we have achieved a significant milestone in financial services on the continent whilst delivering the fastest and most seamless customer Day 1 integration globally. With the emergence of the new entity, the bank is well- positioned to cater to the retail business through a broader reach and product offerings tailored to individual customer needs and delivered efficiently. Access Bank is now a tier one retail banking franchise with strong digital payments capabilities and benefiting from a diversified business mix,” he said.
Wigwe said the bank is already addressing the issue high operating expenses and taking drastic measures to ensure that expenses are reduced significantly, adding the effect would be felt mostly in the second, third and final quarter of 2020.
Speaking on how Access Bank is running its business in the COVID-19 period, the GMD assured that Access Bank has put in place a robust business continuity process enough to sustain the bank’s performance going forward.
“Access Bank was well prepared for the COVID-19 early enough and created ways of working from home and working with our customers. We set up links with our customers and many ways of reaching out to our customers three or four times in a day. This happened even before we started working with the larger society and enabled us to start fighting this pandemic. So Access Bank has put a system in place and now working with CACOVID to make sure that everyone knows what he is doing,” he said.
*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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