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FirstBank demystifying financial inclusion with XploreFirst

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By News Agency of Nigeria (NAN)

Worried by the increasing rate of the unbanked population, the Federal Government, through the Central Bank of Nigeria (CBN), kicked off a campaign in 2012 to achieve 80 per cent financial inclusion of adult population by 2020.

The CBN carried out the campaign through agency banking, mobile banking/mobile payments, linkage models and client empowerment, to reduce financially excluded adult Nigerians from 46.3 per cent in 2010 to 20 per cent in 2020.

According to the CBN, the overall goal of the strategy is to promote a financial system accessible to all Nigerian adults at an inclusion rate of 80 per cent (formal and informal).

However, the 2018 Access to Financial Services Survey findings, conducted by the Enhancing Financial Innovation and Access (EFInA) department of CBN, showed that 36.8 per cent Nigerian adults were still financially excluded.

This translates to a population of 36.6 million adult Nigerians who are excluded at the moment, with 44.1 per cent male and 55.9 per cent female.

The survey also disclosed that the country had a total adult population of 99.6 million, with 39.8 per cent as the banked population, which translates to 39.7 million.

In line with the apex bank’s strategy, some commercial banks have introduced products aimed at promoting financial inclusion, educational development and financial literacy to meet the 2020 target.

For instance, First Bank of Nigeria Limited has since launched a couple of innovative products such as FirstMobile, USSD, agent banking and FirstBillsPay to enhance banking efficiency.

The bank recently added a new scheme, FirstBank XploreFirst, a promotional campaign aimed at rewarding its youthful customers, in line with its financial inclusion and educational development drive.

Chuma Ezirim, FirstBank Group Executive, e-Business & Retail Products, said the six-month promo, which kicked off on October 1, 2018 and ends in May, was a FirstBank savings account variant designed specifically for students between 18 and 29 years.

He said a minimum of N1, 000 was required to open the account and account holders were required to maintain a minimum balance of N200.

To participate in the promo, Ezirim said XploreFirst customers were encouraged to save or maintain a minimum amount of N10, 000 in their accounts during the promo period to be eligible for the scholarship raffle draw, and that incremental deposits of N10, 000 in the account entitled the account holder to multiple tickets for the raffle draw.

To this end, a total of 198 winners emerged from the promo with 18 account holders (three from each of the six geopolitical zones) rewarded with scholarships of N150, 000 at the final raffle draw totaling N2.7 million.

The 18 account holders who won the N2.7 million scholarships were Chukwuebuka Ezugba, Oluwatunmise Olorunfemi and Michael Offiong for Lagos zone.

North-Central: Patrick Oginni, Aliyu Muhammad, Confidence Umeh; North-East West: Razaq Ibrahim, Habiba Ibrahim, Abdullahi Mannir; South-East: Victoria Umo, Armstrong Akoma and Deborah Fubara.

South-South winners were Woyingi Kunoun, Shulammite Onyigabor, Stephen Okolo; South-West: Adenike Adekale, Dorcas Agbakwuru and Oghogho Onoigboria.

Also, the bank rewarded 180 account holders with N5, 000 (N900, 000) airtime as consolation prizes, five from each of the six geopolitical zones.

Ezirim said the initiative was targeted at the youth, especially those in tertiary institutions and the informal sector to enhance savings culture and drive financial inclusion across the country.

He noted that the initiative would be sustained by the bank in the future in line with the CBN financial inclusion mandate.

Also speaking, Olufemi Odumuboni, the bank’s Head, Youth/Women Banking, said the promo dynamics were centred at making people to engage in financial discipline.

Odumuboni said winners were selected based on certain principles that made them eligible to qualify for the draw.

He explained that apart from the N2.7 million set aside for the yearly scholarships the bank had splashed about N900, 000 on customers that emerged winners at the various monthly draws for data purchase for their mobile phones.

To FBN Head, Retail Business & Community Banking, Mr Abiodun Famuyiwa, the bank embarked on the initiative due to its belief in nation’s building.

“We started this last year and the reason why FirstBank is driving this promo is because of our belief in nation’s building.

“We cannot build a nation without the population, youths populism consists of over 50 per cent of the population.

“And this population of youths we are targeting is those in the campuses, which are actually in need of some kind of support in their education, and this is one of the driving forces of the promo,” Famuyiwa said.

He also noted that the focus of the bank in organising the promo was to have more of the youths in the bank’s database, because traditionally, people associated FirstBank with old people. (NAN)

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UBA Foundation’s National Essay Competition 2020 brings out the finest young creative writers in a challenging year

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www.securenigeria365.com

The UBA Foundation, the CSR arm of the United Bank for Africa, today, held its tenth annual National Essay Competition(NEC) in a virtual ceremony that was attended by high school students from across the nation. The UBA Foundation’s Education initiative has been changing lives for a decade as the tertiary education scholarship programme continues to impact the lives of many students and their communities.

For the fourth consecutive year, the females have been leading this competition with14 year-old Eshiet Abasiekeme of Bright Stars Model Secondary School from Akwa-Ibom state taking home this year’s winning prize. Eshiet received an educational grant of N2,500,000.00 to study in any African university of her choice. She will also be supported throughout her educational career and beyond with constant mentoring by the UBA Foundation.

Abasiekeme who had joined the virtual event from her base in Akwa Ibom state in Nigeria, could not contain her excitement as she heard the announcement that she had won the first prize of the NEC 2020. “I feel honoured to be the winner of this year’s NEC, and I want to appreciate UBA and UBA Foundation as this will help towards my dream of becoming a lawyer,” she said proudly, expressing that she would like to go to university in Uyo in her home state.

The second prize was awarded to 14 year old Mofoluwake Adesanya of Spring Forte-Lead College Lagos State, who won a N2,000,000 educational grant, whilst the third prize of N1,500,000 went to Abdulganiyy Habeebah, 16 years old. Abdulganiyy attends the International School, University of Lagos.

Eshiet and the 11 other finalists, took home their brand new lap top computers to enable them continue to work competitively in a world that is rapidly becoming fully digitalised.

Congratulating all the winners at the final event of the competition, the Managing Director/CEO of UBA Foundation, Bola Atta, applauded all the participants for their exceptional brilliance. She explained that the Foundation had taken into consideration the effect that the Covid-19 pandemic has had on lives and incomes across board and had increased the prize money by 33 per cent this year to help cushion any negative or inflationary effects.

Emphasising the driving force behind the annual competition, she said, “We are passionate about the annual NEC because it changes lives and helps to improve the quality of lives of students and their families. The NEC helps to improve the quality of writing and competitiveness amongst students. We have launched in more African countries this year and would have launched the initiative in 20 countries by the end of 2021. It is not just about writing essays, the ripple effect is really quite enormous, and we are glad that it is cascading to other countries where we operate.’ she said.

Also speaking at the opening of the event, the Group Managing Director/Chief Executive Officer of UBA Plc, Mr. Kennedy Uzoka, commended all 12 finalists, expressing that UBA was happy to be touching lives and making a solid impact through its National Essay Competition, which is now in its 10th edition. He was very pleased about the fact that more females again came out tops this year, adding that notwithstanding the constraints and challenges of 2020, the Foundation received the highest number of entries ever, at over 12,000 digital submissions’.

Uzoka who is also the Chairman, UBA Foundation said, “The NEC has been changing lives positively for 10 years, and we have awarded scholarships to students not just in Nigeria but in other parts of Africa like Ghana, Sierra Leone and Senegal. Some of these students are already graduates and contributing meaningfully to their communities’.

To all 12 of you that have emerged finalists, I would like to congratulate you. If out of 12,000 entries you were able to make it to the top 12, that represents about 0.12% of the entries. You are no doubt, already a winner,” he continued.

UBA Foundation’s National Essay Competition is an initiative under the Education pillar of the Foundation. Now in its tenth year, the aim of the NEC is to ensure that more African youths have access to education. The programme also highlights the good quality of education that exists on the continent as it stresses that the grant must be used in any university of the winners’ choice on the African continent.

2020 UBAF TOP 12 FINALISTS

S/N NAME POSITION
1 Eshiet Abasiekeme Eshiet 1st
2 Mofuluwake Adesanya 2nd
3 Abdulganiyu Habeeba 3rd
4 Emenugha Hannah Amarachi 4th
5 Ibem Marylyn Anya 5th
6 Ehibor Favour 6th
7 Nwabueze Regina Ugochi 6th
8 Dimaro Tamarapreye 7th
9 Ozoke Melvin Damian Uchenna 8th
10 Enobong Flourish David 9th
11 Chukwuma Light E. C. 10th
12 Stephen God’s Grant 11th
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Customers meet farmers supplying Shoprite store farm-fresh produce

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Nigerian farmers will have the opportunity to sell their fruit and vegetables directly to Shoprite customers on Saturday, 28 November, as part of the retailer’s ‘Meet the Farmer’ initiative.

Shoprite Adeniran in Lagos will host a fresh produce supplier from 10:00am - 4:00pm.

A large percentage of the fresh fruit and vegetables sold in Shoprite Nigeria’s 25 stores is sourced locally and by hosting these events the retailer gives the farmers the experience of selling in

a formal retail setting.

Nwaorisa Chinedu Prosper, owner of AMET Farm Ventures, has been supplying Shoprite for five years. For him the most gratifying part remains the interaction with customers. “They were very surprised that the majority of the produce available at Shoprite is locally sourced.

I’m also grateful for the opportunity to market my business directly to customers. This is particularly good for smaller farmers as it could lead to people from their community buying directly from them in order to save some money,” adds Prosper.

Chinyere Abade, spokesperson for CSS Global Integrated Farms another participant in Meet the Farmer, recommends that growers participate in initiatives like these because of the invaluable feedback from shoppers, “The customers tell you what’s good about your produce and what’s not, so you have a very clear idea where improvements are needed to attract even more customers,” she added.

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Transcorp Hilton Abuja Wins Four Awards at 2020 World Travel Awards

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Transcorp Hilton Abuja has been honoured with four (4) awards including Africa’s Leading Business Hotel for the sixth consecutive year at the 27th annual World Travel Awards.

The hotel, which is owned by Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation of Nigeria Plc, also won the awards for Nigeria’s Leading Hotel, Nigeria’s Leading Business Hotel and Nigeria’s Leading Hotel Suite (the Presidential Suite).

Commenting on the award, the General Manager of Transcorp Hilton Abuja, Kevin Brett, said, “We are delighted once again to receive the World Travel Awards in various categories. It is a testament to the fact that the hard work and commitment our team put in daily is recognised and appreciated”. Speaking further, he said “I thank our guests who through their continuous patronage and feedback have helped us retain the number one position in the Nigerian hospitality industry”

The Managing Director, Transcorp Hotels Plc, Dupe Olusola, in her remarks, highlighted the significance of receiving such an award during the COVID-19 Pandemic. She said, “It is such a pleasure to receive the ultimate seal of excellence in the global tourism and hospitality industry from the World Travel Awards. At a time were travellers are exploring only the best hospitality products, the significance of this recognition is truly important”

According to the organiser of the award, this year’s World Travel Awards nomination programme reported record and never before seen visitor traffic and engagement from the public voter (the all-important tourism consumer) despite the incredible challenges faced by our industry over the course of 2020. This shows that as the global recovery begins, the appetite for tourism has never been as keen and offers hope and much-needed encouragement to us all.

World Travel Awards was established in 1993 to acknowledge, reward and celebrate excellence across all key sectors of the travel, tourism and hospitality industries. Today, the World Travel Awards brand is recognised globally as the ultimate hallmark of industry excellence.

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