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Sanwo-Olu Commissions UBA Business Office at New Ultra-Modern Afriland Towers

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The United Bank for Africa (UBA) last Friday, officially added a new touch point to its network. UBA operates in 20 African countries and in the United Kingdom, the USA and France. The new branch in Afriland towers on the Lagos Island was commissioned by the Executive Governor of Lagos state, his Excellency Mr Babajide Sanwo-Olu and the Chairman of UBA, Mr Tony O. Elumelu.

Chairperson of Avon Healthcare Limited, Dr. Awele Elumelu; Group Chairman, United Bank for Africa(UBA) Plc and Founder, Tony Elumelu Foundation, Mr. Tony Elumelu; and Governor of Lagos State, Mr Babajide Sanwo-Olu; during the commissioning of a new UBA Business Office located at the newly remodeled Afriland Tower by the Governor in Lagos on Friday

 

The Governor who congratulated the UBA management and Afriland for the beautiful edifice said the bank has remained a principal stakeholder in the development of Lagos, constantly creating jobs and opportunities for Nigerians.

The Chairman, UBA Group, Mr. Tony Elumelu, who received the Governor as well as the Oba of Lagos, Oba Rilwan Akiolu expressed gratitude to every other guest who took time off their busy schedules to grace the event.

He explained that the project to build the new business office in Afriland towers was borne out of the need to solidify past successes recorded by the bank, as well as create new vistas for the growth of businesses. He explained that Afriland properties, developers of Afriland Towers is set to develop new projects aimed at catapulting Lagos into the state of excellence.

He said, “It is interesting to note that Afriland has been developing some iconic properties, and today is a wonderful and joyous moment to see that this building which has a lot of rich history, is back to life. We call it the rebirth, and we appreciate all the planning that has gone into the creation of this beautiful and clean world-class masterpiece’. Elumelu hinted at plans of Afriland to develop more iconic properties in the near future, adding that given its expertise and its pedigree, the people of Lagos were in for a huge surprise.

Elumelu said, “Indeed, this is just a tip of what we want to do at Falamo in Ikoyi.We are going to develop a world-class integrated complex at Falomo, and everyone will be pleased at the outcome.

On his part, the Lagos State Governor, congratulated UBA and Afriland on the major feat of developing a beautiful edifice such as Afriland, adding that  Tony Elumelu is known for coming up with great ideas that boost employment opportunities for Nigerians.

He said, “This is a historic event today and it is a great honour to be here to see the kind of possibilities that can be achieved when you set your mind to it, and what you can turn an un-earning asset into. It is very interesting to note that that this house, formerly called the Raymond House has a rich history, and this is quite nostalgic for me because like some of you may know, I used to work with UBA and this place was the head office where everyone wanted to be because everything happened here. Im happy to know that it has such a rich history dating back to over a century ago.

Continuing Sanwo-Olu said, “I want to commend you and I am happy that Afriland has turned this into a very beautiful and modern 21st Century building with a high level of detail, and beautiful structure. Infact, I call it a work-life like environment – this is what it should be, coming to an environment that caters for you in all areas and for your healthy living.”

While stating that the building was bringing back the old glory of Lagos, the governor added that it will put plans in motion to use the Afriland template to develop some of its old buildings.

“We plan to rebuild some of our old structures in Lagos state such as the old Oluwole market, the children’s hospital at Martins street, among others. We will also be building a cable car project into Lagos Island and all the buildings that have gone down will be rebuilt to meet up with international standards that Afriland has shown us here today,” Sanwo Olu added.

The Oba of Lagos, who congratulated UBA for continuing to contribute positively to the economy as a financial institution that cares about the communities in which it operates.

The Managing Director, Afriland Properties, Uzo Oshogwe, gave a brief history of Afriland Towers, noting the former Raymond House was built in 1886. She added that the rebirth of the Towers showed that the company believed in the potential that could be achieved at the edifice.

The new ultra-modern Afriland Tower Business Office is equipped with state – of – the art facilities, designed to ease banking transactions for its visitors. Facilities provided in the new office include ATM galleries amongst others

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FIRSTBANK’S SPONSORED MOVIE, ‘AYINLA’, PREMIERES THIS SUNDAY IN LAGOS

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First Bank of Nigeria Limited announces its lead sponsorship of the movie titled ‘Ayinla’, which is billed to premiere on Sunday, 13 June 2020.

The movie is suspense-driven, narrating the life of Ayinla Yusuf, popularly known as Ayinla Omowura (an Apala musician), his rise to fame, his identity, the depth of his craft and music, and the basis for his relevance after his tragic death forty years ago as a result of a stab from his manager, Bayewu, during a bar fight on the 6th of May, 1980 in Abeokuta.

Ayinla is directed by multiple award-winning and globally acclaimed Nigerian filmmaker and director, Tunde Kelani, and produced by Jadesola Osiberu.

According to Tunde Kelani, filmmaker and founder, Mainframe Opomulero Productions,” the making of Ayinla allows us to throw a glance over our shoulders to our often-neglected intangible heritage. Nigeria is blessed with huge cultural diversity and locked away are thousands of stories we can share with a global audience.  FirstBank’s partnership with us at this stage is not a mere coincidence, owing to its over hundred years of historical contribution in unlocking the huge potentials in Nigeria which can offer continental and global audiences”.

With the sponsorship of similar socio-cultural initiatives in the creative arts industry like Moremi, Makaliki, Oba Esugbayi stage drama, October 1st (a movie) and the Calabar Festival. The Bank’s sponsorship of ‘Ayinla’ affirms the Bank’s support for the development of arts in Nigeria under its First@arts initiative.

First@arts is FirstBank’s platform for consolidating all its efforts in the arts, supporting the entire value chain of the creative arts, providing much-needed financing and advisory support, showcasing and facilitating the successes of the industry, and enabling customers to explore and access the wealth of opportunities the creative industry has to offer.

Achieving these and a host of many others have been implemented through strategic partnerships with organizations like the British Council, Duke of Shomolu Productions, Live Theatre Lagos, Freedom Park, Terra Kulture, and the Cross Rivers State Government (Calabar Festival), amongst many others.

Ayinla appeals to a multifaceted audience that cuts across fans of highlife and afrobeat music, the youth, and the elite Yoruba demography. It features some of Nollywood’s favorite stars including Adedimeji Lateef who played the role of Ayinla Omowura, Kunle Afolayan, Bimbo Ademoye, Mr. Macaroni, Omowunmi Dada, Ade Laoye, Jumoke Otedola, and Bimbo Manuel.

Speaking on the movie, Jadesola Osiberu, Movie Producer & Founder, Greoh Studios said, “Working with the great Tunde Kelani is something I have wanted to do for a long time, and I am so glad that we were able to do it on a project like Ayinla. This collaboration was an interesting experience, and I am glad everyone finally gets to see the film we made in the cinemas nationwide from 18 June 2021. I’d like to thank the management of First Bank of Nigeria Limited for choosing to come on this journey with us.”

Expressing her delight on the movie, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank said; “For over 127 years, FirstBank has been at the forefront of nation-building; enabling Nigeria and Nigerians through resourceful partnerships to build the Nigerian creative industry value chain, especially the arts and entertainment sub-sectors.  We remain proud of this sponsorship that creates an excellent platform to showcase Nigeria to the world as being part of a collective goal to continually keep dreams and hope alive; holding strong to our commitment to reignite cultural heritage.”

“Without a doubt, the movie industry remains part of the creative and entertainment industry value-chain across the globe and indeed a powerful channel to drive our heritage and culture, which resonates with our legacy of being woven into the fabric of society.”

According to research disclosed in PWC’s recent Entertainment & Media Outlook report, Nigeria’s entertainment is expected to rise from $4.46 billion in 2018 to a $10.5 billion market by the end of 2023. In addition, with this initiative and other sponsored event, FirstBank is committed to strengthening its contribution to the development of the entertainment industry in the country.

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Another shot in the arm for Adeduntan as FirstBank wins Global Banking and Finance’s Retail Banking CEO Award

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While the age-old saying and philosophy of virtue being its own reward (or seeing doing good as its own reward) remains a strong motivating factor in doing good persistently, it helps when virtue gets recognition from time to time. Even though anyone or organisation committed to doing good will keep doing so with or without recognition, recognitions for virtue tend to act like a shot in the arm for such people or organisations, spurring them to commit even more to doing good.

That is what the recent award of “Retail Banking CEO of the Year Nigeria” to Dr Adesola Adeduntan, CEO of First Bank of Nigeria Limited, is to both him and the bank he leads. It is a shot in the arm of this foremost CEO of Nigeria’s most enduring financial institution that is also the pioneer in retail banking development in Nigeria, the premier bank in West Africa and the leading financial inclusion services provider in Nigeria for over 127 years, to keep steering the bank in the right direction, energising and expanding retail opportunities for all Nigerians in the process. It is a well-deserved recognition for a man and the institution he leads that would rather keep off the spotlight and focus exclusively on attending to Nigerians’ banking needs as best as they can – which is what has kept them going for 127 years and counting.

This critical role is one FirstBank is better suited to lead than any other lender given the robust retail banking framework that the bank has in place, that is riding on its innovative technology-driven operations, over 750 branches across the continents and 100,000 Firstmonie Agent banking network spread across 772 local government areas in Nigeria. It is little wonder that FirstBank, which is intricately woven into the fabric of the Nigerian society, has been an essential player in the retail space, empowering Nigerians of all walks of life by providing them bespoke and innovative financial products and services that address their multidimensional needs. The bank has been at the forefront of bridging the financial exclusion gap and enabling customers and the general public to carry out both individual and corporate financial activities which contribute to the growth and development of the national economy.

The award by Global Banking and Finance Magazine, according to Dr Adeduntan, “speak[s] to the investments we [as FirstBank] have made over the past years in…enhancing financial inclusion….” It is a loud testament to the incredible strides FirstBank has made and continues to make in the retail space under the able and dynamic leadership of the management team led by Dr Adeduntan.

The strides are in turn underpinned by the bank’s resolute commitment to putting the customer and other stakeholders at the heart of its business. Dr Adeduntan reiterates this view when he wasted no time in dedicating the award to all the bank’s “customers, as the trust they reposed in us being their bank of first choice in meeting their business and financial needs has been instrumental to the success we have achieved in our existence of over 127 years.” “We remain committed,” he continued, “to putting you, our customers, first as we contribute to the growth and development of our host communities.”

Organised to identify the banks across the world that have excelled across a number of areas, including corporate governance, sustainability and innovation, and have played a key role in the industry’s growth, the Global Banking and Finance Awards reflect the innovation, achievement, strategy, progressive and inspirational changes taking place within the global financial community. The awards were created to accord recognition to companies of all sizes which are prominent in their areas of expertise and excellence within the financial world. For Dr Adeduntan and FirstBank, the award is further proof of FirstBank’s enduring commitment to providing excellent retail banking services to all its customers as reflected in the bank’s strategic vision, diverse and inclusive workforce and performance-oriented organisational structure.

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FirstBank: Nigeria’s Premier Eco-Friendly Financial Brand

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By Jeremiah Agada

As the world gears up to celebrate the World Environment Day (WED), Brand Communicator’s focus on Eco-Friendly Brands in the Nigerian market falls on Nigeria’s premier and perhaps the strongest financial institution, First Bank of Nigeria Limited. The focus is on the Bank’s environmental policies and its impact on the global environmental issues.

This brings to fore the importance of environmental sustainability in our world today. Environmental sustainability is one of the biggest challenges and most important targets of the present times. Stakeholders (researchers, academicians, scholars, governments and non-government organizations involving individuals, communities, countries, and the continents, are increasingly focusing their attention on how to tackle the challenges associated with driving environmental sustainability. Key stakeholder concerns include the constant exploitation of the environment due to economic development. While the current generation is enjoying the fruits of economic development, they tend to be oblivious of the uncertainty and dangers that future generations would confront as a result of scarce natural resources and polluted environment. It is therefore, our responsibility to leave the planet as a self-sustainable system providing equal opportunities of survival not only to our future generations but also to all other species co-habiting with us.

In Nigeria, studies have shown that various sectors of the economy are vulnerable to climate change. These include human settlements and health; water resources, wetlands and freshwater ecosystems; energy, industry, commerce and financial services; agriculture, food security, land degradation, forestry and biodiversity; coastal zone and marine ecosystems.

Because of the seriousness of climate change and the impact it poses to the environment, an organization like First Bank of Nigeria Limited is leaving nothing to chance in ensuring an eco-friendly society. Its recognition of the environmental and social impacts of its operations has made it adopt policies and procedures that minimize negative environmental and social impacts.

In doing business, the Bank, which is Nigeria’s first and arguably its most prestigious, takes cognizance of potential environmental risks with a view to nipping them in the bud. This it has done by constant interactions with stakeholders, driving sustainable insurance and putting necessary frameworks in place towards ensuring that its actions as a corporate entity does not impact negatively on the environment.

As such, the sustainability of the societies and physical environments in which the Bank operates are critical to its own sustainable success. Therefore, the Bank has shown over the years that it is committed to making positive contribution wherever it does business while avoiding or minimising any direct or indirect negative impact on communities and the environment resulting from its activities, beyond its responsible lending and investment efforts.

The acknowledgement of the fact that its environmental impacts can be indirectly linked to climate change and its global effects has led the bank to adopt an approach to environmental sustainability which is two-fold based on its direct and indirect impacts. The approaches to reducing the direct impacts of its operations include approach to minimising carbon footprints and carbon offsetting; work towards carbon neutrality as well as promote wildlife and biodiversity conservation and preservation.

In minimising waste, the Bank works to improve energy efficiency in its data centres and offices as well as reduce air travels and implement safe paper use initiatives. It also increased the use of conference calls for meetings as against attending physical meeting schedules thereby minimizing fuel consumption and carbon emission from vehicles. Its ‘Going Green’ efforts have also seen the Bank purchase renewable energy; promote tree planting initiatives and the indirect impact of its activities focuses largely on responsible lending.

The Bank’s key objectives of minimizing carbon footprints through the planting of trees, creating awareness among school children of the need to preserve wildlife and biodiversity, developing and educating environmentally conscious students through partnerships with reputable NGOs and institutions, are huge. The challenge in implementing this project is not just in identifying suitable locations with the right soil and climatic conditions for tree planting, but also ensuring students’ participation.

These objectives and FirstBank’s responsible approach to protecting the environment has seen it partner with Nigerian Conservation Foundation (NCF), Nigeria’s premier non-governmental environment conservation foundation dedicated to nature conservation and sustainable development in Nigeria. Its on-going partnership with the NCF has seen it actively support annual activities promoting conservation and preservation of wildlife and biodiversity.

The FirstBank Conservation Initiative is part of our long-term approach to promoting sustainability, which involves minimising our direct and indirect impacts on the environment. And the success of this initiative is dependent on our meaningful engagement with our stakeholders.

With its huge expertise in environmental issues, the Bank found a worthy and perfect partner in the NCF to help implement this programme successfully. The NCF used its experience and influence to engage the various stakeholders to support the programme. This included utilising its conservation clubs, which provided educational sessions for the students on the importance and benefits of conservation and supporting biodiversity. The subsequent enthusiastic participation of the students, and the encouragement they received from the Ministry of Education and school authorities, enabled the programme’s objectives to be achieved.

So far, 240 trees have been planted at the Lagos State Civil Service Model College Igbogbo in Ikorodu, and Evboesi Mixed Secondary School, Benin City. More than 1,000 environmental sustainability champions have also been appointed in these locations. These champions are young people who look after the trees and ensure that they are adequately cared for to help the bank achieve its afforestation goals. “The planting of trees is just part of our efforts to contribute to Nigeria’s green economy and to combat deforestation/desertification, while recognising the key role of children and young people in the sustainability agenda,” the Bank in a statement disclosed.

Through its partnership with Junior Achievement Nigeria (JAN), FirstBank sponsored the National Company of the Year (NCOY) Competition. The competition is an extension of the COY programme that brings secondary students together to form a company, choose a business name and elect officers to oversee operations of the company for the programme duration. It teaches students to put theory into practice in order to fully understand what financial literacy and entrepreneurship is.  At the end of the programme, the students that complete the programme successfully, compete in the regional competition and represent their school in the National Company of the Year competition in Lagos. In 2020, the New Phase from Brookstone Secondary School, Port-Harcourt, Rivers state emerged winner, producing an eco-friendly block. The eco-friendly construction blocks were made from plastic waste. These sustainable blocks are the next wave of sustainable construction.

Beyond the initiatives above, responsible lending remains one of the strategic pillars in delivering the sustainability goals of the FirstBank Group. FirstBank has put in place an Environmental, Social and Governance Management System (ESGMS) to help the Bank integrate environmental social and governance considerations into its decision-making processes. This includes an ESG policy and procedures for screening transactions. The ESG policy is based on existing policy documents and international best practice, while procedures to screen transactions are aimed at conducting ESG due diligence on potential transactions. These are based on Central Bank of Nigeria’s Sustainable Banking Principles, IFC Performance Standards, and international best practice and are tailored to FirstBank’s procedures, risk management framework, risk appetite and tolerance, and adapted to its strategic objectives

The key objective of this policy is to ensure that all the transactions that FirstBank is considering funding, include adequate provision for actions necessary to prevent, control and mitigate negative impacts on the environment and communities, and improve environmental quality.

With this, FirstBank has shown its commitment to integrating social and environmental principles in all its operations; promoting good corporate governance and ensuring social and environmental considerations are included in the business decision making; reviewing and managing potential social and environmental risks in its lending and investment processes and activities and reviewing all borrowers against the criteria like exclusion list; the International Finance Corporate Performance Standards, and other applicable international standards as well as the Nigeria Sustainable Banking Principles (NSBP) requirements.

Others initiatives are, providing constant education and training for all staff on issues of environmental and social responsibility relevant to the business; regularly communicating to all stakeholders on progress of commitments including achievements, challenges and future direction; continuous improvement on the way in which it identifies, assesses and manages Environmental, Social, and Governance (ESG) risks within its businesses.

The successful and productive implementation of the ESGMS has propelled the bank to integrate the associated checklist (which is usually completed by a relationship manager and verified by an analyst against the EIA report), into the bank’s credit application platform designed for reviewing credits. The goal is to ensure efficiency through automation as relevant implementation documents such as the environmental, social and governance risks screening checklist will be fully automated.

These initiatives over the years and activities have shown that environmental sustainability remains a key corporate responsibility & sustainability focus for FirstBank.

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