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ZENITH BANK NAMED MOST SUSTAINABLE BANK IN NIGERIA IN THE INTERNATIONAL BANKER AWARDS 2024 FOR THE SECOND CONSECUTIVE YEAR

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ZENITH BANK NAMED MOST SUSTAINABLE BANK IN NIGERIA IN THE INTERNATIONAL BANKER AWARDS 2024 FOR THE SECOND CONSECUTIVE YEAR

 

 

Zenith Bank Plc has been named the “Most Sustainable Bank, Nigeria” in the International
Banker 2024 Banking Awards, retaining the title for the second consecutive year.
Commenting on the award, the Group Managing Director/Chief Executive Officer of Zenith
Bank, Dame (Dr.) Adaora Umeoji, OON, said: “We are deeply honoured to be recognised as
the Most Sustainable Bank in Nigeria for the second time in a row. This prestigious award
underscores our steadfast commitment to sustainability and reinforces our belief that
responsible banking is essential for long-term success and societal impact.”

 

 

 

She dedicated the award to the Founder and Chairman of Zenith Bank Plc, Dr. Jim Ovia,
CFR. She lauded the Bank’s stakeholders for their commitment and unwavering support in
ensuring that Zenith remains a highly successful institution. She said, “This remarkable
achievement is a testament to the visionary and impactful leadership of our Founder and
Chairman, Dr. Jim Ovia, CFR. His exceptional foresight and dedication have been the
cornerstone of our success. His ability to inspire and guide with strategic acumen has been
instrumental in steering Zenith Bank to new heights. Along with the strategic guidance of our
esteemed Board members, the unwavering commitment of our ever-diligent staff, and the
steadfast support of our loyal customers, Dr. Ovia’s leadership has been pivotal in
transforming our sustainability initiatives into a reality. We owe this success to his relentless
pursuit of excellence and his deep-seated commitment to redefining the banking landscape
in Nigeria.”

 

 

 

 

This recognition reaffirms Zenith Bank’s position as a trailblazer in sustainable banking
practices, setting a benchmark for excellence within the Nigerian banking industry and
beyond. The Bank has been a leader in monitoring and reporting sustainability impact.
Since becoming the first Bank in Africa to publish a stand-alone sustainability report in
accordance with the GRI Standards: Core Option in 2016, Zenith Bank has consistently
published assured stand-alone sustainability reports. The Bank is one of the few institutions
in Nigeria that tracks its carbon emissions using a certified tool built on the internationally
recognised Greenhouse Gas (GHG) Protocol.

 

 

 

 

 

Zenith Bank is deeply committed to environmental, social, and governance (ESG) values,
subscribing to the Triple Bottom Line principle, which encompasses People, Planet, and
Profit. As a leading financial institution that services various sectors of the economy, the
Bank considers Environmental and Social (E&S) risk management critical to its
sustainability strategy.

 

 

 

 

Zenith Bank’s track record of excellent performance has continued to earn the brand
numerous awards, including being recognised as Best Bank in Nigeria for the fourth time in
five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks
Awards; the Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; being
listed in the World Finance Top 100 Global Companies in 2023; being recognised as the

 

 

 

 

Number One Bank in Nigeria by Tier-1 Capital for the 14th consecutive year in the 2023 Top
1000 World Banks Ranking published by The Banker Magazine; Best Commercial Bank,
Nigeria, for three consecutive years from 2021 to 2023 in the World Finance Banking
Awards; Best Corporate Governance Bank, Nigeria in the World Finance Corporate
Governance Awards 2022 and 2023; Bank of the Year (Nigeria) in The Banker’s Bank of the
Year Awards 2020 and 2022; Best in Corporate Governance Financial Services Africa for
four successive years from 2020 to 2023 by the Ethical Boardroom; Most Sustainable Bank,
Nigeria in the International Banker 2023 Banking Awards; Best Commercial Bank, Nigeria
and Best Innovation in Retail Banking, Nigeria in the International Banker 2022 Banking
Awards.

 

 

 

 

 

Additionally, the Bank emerged as the Most Valuable Banking Brand in Nigeria in the
Banker Magazine Top 500 Banking Brands 2020 and 2021; Bank of the Year 2023 and
Retail Bank of the Year for three consecutive years from 2020 to 2022 at the BusinessDay
Banks and Other Financial Institutions (BAFI) Awards. Similarly, Zenith Bank was named
Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021
by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most
Responsible Organisation in Africa 2021 by SERAS.

 

 

 

 

Published by Finance Publishing Limited, the International Banker Magazine, United
Kingdom, is a leading global source of authoritative analysis and opinion on banking,
finance and world affairs. Its influence, integrity, accuracy and objective opinion have
earned it global recognition. The International Banker Awards strive to recognise the most
worthy financial institutions around the world – those not just doing their jobs well but
exceptionally well – those operating at the industry’s cutting edge and setting new
performance levels to which others will aspire. The 2024 Banking Awards focused on
various criteria, including the provision of much-needed capital for economic growth, cutting-
edge innovation to enhance security and efficiency, commitment to sustainability and ESG
principles, as well as intelligent investing to maximise profits and shareholder value.

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2024 International Cooperative Day: How MedLab Practitioners Multipurpose Cooperative Society Is Set to Transform Nigeria’s Socio-Economic Landscape

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2024 International Cooperative Day: How MedLab Practitioners Multipurpose Cooperative Society Is Set to Transform Nigeria’s Socio-Economic Landscape

By Abdulrahman Aliagan

 

 

In the bustling heart of Africa, Nigeria, the Africa’s commercial hub, a group of Medical Laboratory Practitioners came together to form what is today known and called Medical Laboratory Practitioners Multipurpose Cooperative Society Limited (MLPMCSL). This group of people huddles around a table, both in the days and in the nights to discussing the latest ways, ideas and innovations of making savings and loan working for the best for its members.

This is not a typical business meeting, but rather a gathering of Medics and non-medics alike, as one of the thousands of cooperative groups that are quietly revolutionizing the socio-economic fabric of Africa’s most populous nation.

Without a doubt, cooperative societies have long been the unsung heroes of Nigeria’s development story. These member-owned and democratically controlled organizations have been providing vital financial services, empowering entrepreneurs, and fostering community resilience in ways that formal financial institutions have often failed to do.

Instructively, “MLPMCSL within its shortest time of existence, it has been a lifeline for members” says, Mr Kingsley Okpala, the Secretary of MLPMCSL FCT Branch and Chairman, MEDLAB Estate. According to him, “It allows us to save regularly, acquire shares, access loans, when we need them, and support each other through difficult times. Without them, I don’t know how we would manage.”

Indeed, the impact of cooperative societies in Nigeria cannot be overstated. With an estimated of over 10 million members across the country, these organizations are playing a crucial role in promoting financial inclusion, reducing poverty, and driving sustainable economic growth.

“Cooperatives are the backbone of Nigeria’s informal sector,” explains Dr. Adesoji Adelaja, a professor of public policy at Michigan State University who has studied the cooperative movement in the country.

“They provide access to credit, business training, and other essential services that are often out of reach for the country’s marginalized communities.”

Take the case of MLPMCSL for instance. This cooperative, which is made up of predominantly Medical Lab practitioners average-income earners, has been using its collective savings and loan scheme to help its members start and expand their businesses, as well as to weather economic shocks and personal emergencies.

“Through the cooperative, we’re able to access small loans at affordable interest rates,” says Abubakar. “This has allowed us to invest in our businesses, send our children to school, and even at the verge of owning to ourselves new homes, the initiatives that has brought about MEDLAB Estate, a project that is going to set a standard for cooperative societies in Nigeria. It’s a game-changer for us.”

The transformative power of cooperative societies is not limited to the informal sector, however. Across Nigeria, from rural farming communities to urban professional circles, these organizations are driving innovation and social change.

For example, a cooperative of Medicals has been using its collective bargaining power to negotiate better prices for their crops, as well as to access improved agricultural inputs and technologies, affordable Housing and food interventions to cushioning the Nigeria’s present economic reality. This, in turn, has led to increased productivity, higher incomes, and greater food security as well as enabling members to fund their professional development and personal aspirations.

“Cooperatives are truly the unsung heroes of Nigeria’s development story, “Say Mr John Chidi, a Medical Lab practitioner, “They are empowering individuals, strengthening communities, and contributing to the overall socio-economic growth of the country in ways that are often overlooked.”

As Nigeria grapples with the challenges of youth unemployment, economic inequality, and social fragmentation, the cooperative movement offers a glimmer of hope. By fostering a culture of self-help, mutual aid, and democratic participation, these organizations are demonstrating the power of collective action to drive positive change.

“Cooperative societies are not just about money and business,” reflects Maryam Abubakar. “They are about building a better future for all of us – one that is more inclusive, resilient, and just. And that, to me, is the true significance of what we do.”

Meanwhile, on Saturday, the 6th of July, 2024, MLPMCSL has highlighted programmes to join the global community to commemorate the International Cooperative Day under the theme “Cooperatives Build a Better Future for All.” This significant event, spearheaded by respected figures such as Alhaji Idris Ali Sanni, emphasized the critical role that cooperative societies play in empowering members and driving economic progress.

At the heart of the event is a focus on innovative excellence and the empowerment of members to achieve economic leadership through unity and performance. Muhammed S. Bello, the esteemed Founder/CEO of the Cooperative & Labour Education Research Centre (CLERC) in Lagos, will deliver a compelling address as the Guest Speaker, that will emphasizing the need for cooperative unity in fostering growth and development.

The energetic Elder IO Benjamin, the Project Manager/President of the MLPMCSL will serve as the Chief Host and Co-Speaker to the upcoming event, it is going to shed light on the enduring and endearing nature of cooperative societies and the pivotal roles playing by both members and management in nurturing a thriving cooperative environment.

Guiding the proceedings are experienced moderators Mr. Abdullahi Abdullahi Samaila and Uba Cornelius Ekenedilichukwu, who would ensure a smooth flow of discussions and engagements throughout of the event.

As part of the programme schedules, attendees are therefore invited to join this global event, at 8:30 pm via Google Meet. The event promises to be an enlightening and enriching experience that will showcasing the collective efforts towards advancing socioeconomic growth and development through cooperative initiatives.

In conclusion, the International Cooperative Day 2024 celebration is going to serve as a testament to the vital role that cooperative societies is playing in building a better future for all. Through unity, innovation, and a commitment to excellence, these cooperative entities continue to drive positive change and transformation in communities, ultimately shaping a brighter tomorrow for generations to come. Let us all heed the call to embrace the cooperative spirit and make every day count towards a more inclusive and prosperous society.

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Experts Converge for Harmony Gardens’ Inaugural Housing Summit & Lekki Aviation Town Estate Launch in Lagos

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Experts Converge for Harmony Gardens’ Inaugural Housing Summit & Lekki Aviation Town Estate Launch in Lagos

It was a moment of joy and happiness for realtors, stakeholders, prospective customers, and attendees on Tuesday, July 2nd, 2024, as Harmony Gardens and Estate Development LTD hosted the maiden edition of its annual Bridging Housing Deficit Summit 2024 (BHDSummit2024) and the grand launch of the highly anticipated Lekki Aviation Town Estate, Ibeju-Lekki, Lagos State. The event, held at the estate premises, marked a significant milestone in the Nigerian real estate sector.

The event kicked off a few minutes before noon, with Gbenga Adeyinka, the master of ceremonies, setting a lively tone with his hilarious remarks that had both local and international participants bursting into laughter.

Hon. Dr. Audullahi Saheed Mosadoluwa, MD/CEO of Harmony Gardens and Estate Development LTD, delivered the opening speech. The energetic real estate expert explained the rationale behind organizing the summit and the importance of inviting foreign experts to address Nigeria’s housing deficit.

“Bridging the housing deficit is part of navigating economic challenges, and the only solution is to provide a platform for sustainable housing development that ensures adequate, secure, and affordable housing,” Dr. Mosadoluwa stated. “Home ownership can be complex, but there are strategies to consider. That’s why I brought in experts from different parts of the world, leaders, captains of industry, and stakeholders to debate and offer solutions to these problems.”

Harmony Gardens’ management emphasized the urgent need to accelerate residential construction to curb the widening gap between housing demand and supply, particularly in Lagos State, Abuja, and Asaba. The company acknowledged the Federal Government’s efforts through the Ministry of Housing’s Renew Hope Mass Housing Project, which aims to significantly increase housing supply and stabilize rental housing vacancy rates by 2025.

The event’s moderator, Dr. Reuben Abati, ensured robust and insightful discussions, while hosts Mrs. Kikelomo Atanda-Owo and Nollywood actress Nancy Isime carried out their duties with aplomb.

The first session, “Solution to Inadequate Housing for Nigerians: Strategies, Commitments, and Innovation for Sustainable Housing,” saw panelists discussed and proposed solutions to housing challenges.

Harmony Gardens’ brand ambassador, Abolore Akande, popularly known as 9ice, delivered a professional musical performance that captivated the audience.

Subsequent sessions addressed topics such as fostering inclusive nature-based solutions for low-income Nigerians, building inclusive cities and solidarity communities around the Free Trade Zone, and innovative housing for the urban population. Nollywood actress Iyabo Ojo moderated these segments.

Dignitaries and panelists at the event included May Christopher Lance, MD/CEO of Golden Trust Capital UK, Roger Fysh, MD of HBSI LTD UK, H.E. Dr. Sania A. Ansari, Chairperson of the Ansari Group United Arab Emirates, HRM Alh. Dr. Yahaya Abubakar CFR, Etsu of Nupe, Mrs. Feyisola Adeyemi, CEO of Luxury by Feyi UK, HRM Alh. Dr. Usman Nga-Kupi, Sa’ Peyi of Garki HRM, Mrs. Folashade Tinubu-Ojo, Iyaloja of Lagos, Mr. Mogaji Wole Aare Arisekola, RTEAN boss,Alh. Dr. Musa M. Maitakobi, Amanda Muesli, Founder/CEO of Green Tech Global & Natrix Holdings Swiss/Thailand, Mrs. Sandra Foster Joane, Principal Managing Partner of Avaero Capital Partners UK, Mr. Rana Shoaib, City & Regional Planner/NbS for Housing Sector Researcher, Abdul Razzaq Town Planner CPC Pakistan, Dr. Emmanuel A. Abikoye, President of Billionaire Realtor Group (BRG) and Co-founder of Tribitat Real Estate, and Dr. Tony Kolawole Aspire, Chairman of REDAN Lagos State Chapter.

Musical performances from various artistes, including Small Doctor, added vibrancy to the event. Brand ambassador Anita Joseph Olagunju thrilled guests with her Igbo dance steps. The presence of top Fuji music stars Alhaji Abass Akande Obesere and Alhaji Wasiu Alabi Pasuma was also felt by the audience. Top socialite and real estate player Abu Abel, along with the Onibeju of Ibeju-Lekki, and many more graced the event, making it truly memorable.

 

Experts Converge for Harmony Gardens' Inaugural Housing Summit & Lekki Aviation Town Estate Launch in Lagos

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Fidelity Bank Affirms Industry Leadership with Publication of Its ISSB-Compliant Sustainability Report

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Fidelity Bank Affirms Industry Leadership with Publication of Its ISSB-Compliant Sustainability Report

 

 

In demonstration of its leadership in the Sustainability space, leading financial institution – Fidelity Bank Plc – has emerged the first bank to publish its 2023 ISSB-Compliant Sustainability and Climate Report in the Nigerian banking industry.

Hosted on the bank’s website on 30 June 2024, the report provides insights into the Bank’s Governance, Strategy, Risk Management, Metrics and Targets around Sustainability and Climate-related risks and opportunities, Human Capital, Community Efforts, amongst others in the 2023 financial year.

“2023 marked a pivotal point in our sustainability journey. We became a signatory of the UN Environment Programme Finance Initiative (UNEP FI) Principles for Responsible Banking (PRB) and the UN Women’s Empowerment Principles (WEP). These associations go beyond mere statements of membership – they actively integrate sustainability and climate-related goals into our core business strategy and daily operations.

“We believe innovation and transparency are essential for building trust in our strategies and achievements. As we progress towards sustainability, we remain committed to our diverse stakeholders including our dedicated workforce, esteemed shareholders, and valued customers”, remarked Mr. Mustapha Chike-Obi, Chairman, Board of Directors, Fidelity Bank Plc in the report.

The document, which was prepared in accordance with the requirements of IFRS S1 and S2, highlights the bank’s achievements and aspirations as pacesetters within the financial services sector.

Speaking on the bank’s strategy on Sustainability and Climate change, Mr. Kevin Ugwuoke, Executive Director/Chief Risk Officer, Fidelity Bank Plc, stated, “Our 2023 Sustainability and Climate Report details our commitment to continually situate ESG and Climate-related risks & opportunities considerations at the core of our business operations and activities as we constantly explore means of meeting our corporate objectives in a manner that significantly reduces the negative environmental and social effects. We are glad to be the first bank to publish its report as this emphasizes our market leadership in the Sustainability space and we commit to do more to increase our positive impacts in all aspects of sustainability.”

It will be recalled that Fidelity Bank was recently listed amongst the top Nigerian banks in ESG performance according to a survey commissioned by the Independent Project Monitoring Company (IPMC) Limited.

To access the Fidelity Bank 2023 Sustainability and Climate Report, please visit https://www.fidelitybank.ng/documents/Fidelity_Bank_Sustainability_Climate_Report_2023.pdf

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged commercial bank with over 8.3 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

 

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