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AMCON donation to IDPs wins USAID-ECR Award

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Asset Management Corporation of Nigeria (AMCON) during the week received yet another award in Maiduguri, the Borno State capital from USAID-Nigeria Education Crisis Response Project. The event was the Close-Out-Ceremony of the programme jointly organized by the ministries of Education in Adamawa, Bauchi, Borno, Gombe and Yobe States in collaboration with USAID- Nigeria Education Crisis Response Project at the government house, Maiduguri.

A citation read on behalf of the organisers at the event, which was chaired by the Deputy Governor of Borno State, Alhaji Usman Mamman Durkwa stated that AMCON was selected for the award in recognition of its contribution to the educational development and wellbeing of out-of-school internally displaced and host community children in Adamawa, Borno and Yobe States under the auspices of the USAID-funded Nigeria Education Crisis Response project 2014 – 2018.

The Deputy Governor, who stood in for the Governor, Alhaji Kashim Shettima at the event thanked AMCON and other individuals and organisations that received awards at the close-out-ceremony for coming to the aid of the governments and people in the affected states in the northeast, especially Borno State, where he disclosed that he incidentally flagged-off the programme when the American agency kick started the project.

Recall that AMCON last year showed heavy support to some affected children and families that were traumatized and distabilised by the mindless insurgence in the northeast, where violent attacks by extremists forced more than 2.2 million people to flee their homes including over one million children who are presently out of school.

AMCON donated scholastic materials to mainstreamed learners and parents caregivers; starter packs for small scale businesses as well as food items such as rice, beans, semovita, groundnut oil, cooking utensils and salt, among others to the families of Internally Displaced Persons (IDPs) in the northeast.

Between the months of November and December, the donated items were duly distributed to the beneficiaries by a team from USAID-Nigeria Education Crisis Response (USAID-ECR) led by its Project Director, Mr. Ayo Oladini. The distribution activities was closely supervised by officials of AMCON who irrespective of the dangers in the affected states traversed the length and breadth of the affected states to ensure that the items got to all the beneficiaries.

The organisers stated that such rare commitment AMCON showed to the whole project as well as the human and material resources they committed to the distribution exercise against all odds prompted the organisers to recognize AMCON as a dependable partners and supporter at the close-out-ceremony that was attended by the Education Commissioners from the affected states as well as the top echelon of Creative Associates International USA including Mr. Earl Gast, the Senior Vice President; Mr. Semere Solomon, Senior Director; Mrs. Susan Ayari, Senior Associate; Mr. Jake Thomsen, Technical Manager, and Mrs. Nafisa Ado, the Regional Coordinator, Department of International Development, UKAID and a host of others.

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BUSINESS

Fidelity Bank launches new Savings campaign, unveils a Novel Account opening initiative

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Nigerian lender, Fidelity Bank Plc on Monday unveiled a novel account opening initiative, just as it launched a new savings promotion campaign aimed at rewarding new and existing customers of the bank. The new account opening initiative, the first of its kind in the Nigerian banking industry, enables members of the public to open online savings accounts through a Quick Response (QR) code which can be scanned from any of the promotional materials such as roll up banners, fliers, posters and newspaper adverts.

This is expected to significantly ease the process of enrollment of new accounts and deepen the penetration of the new savings promo tagged; Get Alert in Millions Season 3 explained Executive Director, Shared Services and Products, Fidelity Bank, Mrs. Chijioke Ugochukwu, during the launch ceremony at the bank’s corporate Head Office in Lagos Monday. “This new savings promo is the 8th in 11 years. As with the previous ones, we are motivated to continue to empower our customers by rewarding them with cash and gift items, whilst at the same time promoting the savings culture, in line with the financial inclusion drive of the Central Bank of Nigeria (CBN)” said Mrs. Ugochukwu, who doubles as the Chairperson of the Promo Committee. 

Speaking shortly before formally flagging off the promo, Fidelity Bank CEO, Mr. Nnamdi Okonkwo thanked customers, stating that the bank is motivated to continue to incentivize them for their patronage. He said it was imperative to acknowledge the contributions of customers to the growing fortunes of the bank. “Last week, we joined other institutions across the world to observe the 2018 Customer Service Week and I want to use this opportunity to again thank all our customers. Our impressive half year results attest to your support and with your continued patronage, we are on course to delivering on our financial targets for the year” he said.

As a customer-centric bank, Mr. Okonkwo said Fidelity Bank would continue to leverage technology, in line with its digital retail strategy, to better serve customers, through innovative products, services and solutions. He reeled our some of the products to include the newly upgraded Fidelity Online Banking, *770# Instant Banking and Flashkey.“Our online banking solution enables you to transfer foreign exchange seamlessly just as we are the first bank to introduce a chat banking solution that is known as Flashkey. This solution enables you to effect monetary transfers whilst on any social media platform, without recourse to the online banking platform installed on your mobile device” he stated. 

GAIM Season 3, as the new savings promo is called, is expected to run for 9 months till June 2019. The bank, within this period will give out over N120 million in cash and consolation prizes, including weekly airtime rewards. 

To participate, Head, Retail Banking, Fidelity Bank, Mr. Richard Madiebo said “customers can open a savings account and grow it to N20, 000 or top up an existing account with N10, 000 or more to qualify for the monthly draws to win N1million or N2 million. To qualify for the star prize of N3m, he explained that customers are expected to grow their account balances by N50, 000 monthly whilst accounts that maintain a minimum of N200,000 qualify for the grand prize of a whooping N10 million. “As a bank with branches across the country, the draws ceremonies will be done to ensure that everybody, irrespective of where their accounts are domiciled, stand equal chances of winning” he explained. There will be a total of six draws to produce 77 cash and 108 consolation prize winners over the duration of the exercise.

The launch ceremony had in attendance the press, regulatory bodies and some winners from previous savings promotion campaigns. Alhaji GaffarAbdullateef; a previous winner thanked Fidelity Bank for the N3m he won in the last promo, saying that it “significantly gave boost to his business”.  Assistant Director, National Lotteries Regulatory Commission, Joy Okuna, praised Fidelity Bank for the transparency displayed in the last promos.  “As regulators, our duty is to ensure that promos are conducted transparently and I must attest to the high degree of transparency that we see with all Fidelity Bank savings campaigns and we expect no less from this” she stated.

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Forex: Wholesale segment, others get $210m boost

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Authorized dealers in the wholesale segment of the inter-bank foreign exchange market received the sum of $100million from the Central Bank of Nigeria (CBN) on Tuesday, October 9, 2018 to meet the needs of customers.

The CBN also on Tuesday allocated the sum of $55million each to the Small and Medium Enterprises (SMEs) and the invisibles segments. The figure for the invisibles  was meant for customers requiring it for tuition fees, medical payments and Basic Travel Allowance (BTA) amongst others.

The Director, Corporate Communications at the Bank, Isaac Okorafor, reiterated that the Bank’s continued intervention in the inter-bank sector was aimed mainly at ensuring adequate liquidity in the market, even as he noted that there was not much pressure on the naira.

Meanwhile, the naira maintained its steady rate against major currencies around the globe, exchanging for N361/$1 in the BDC segment of the market on Tuesday, October 9, 2018.

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FirstBank promotes financial inclusion, launches XploreFirst Savings Promo for students

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In alignment with its financial inclusion drive, First Bank of Nigeria Limited has announced a promotional campaign aimed at rewarding its youth segment customers for using their FirstBank XploreFirst Savings accounts whilst also encouraging healthy savings habit. The promo which kicked off on October 1, 2018 is scheduled to run for 6 months to March 30, 2019.

XploreFirst is a FirstBank savings account variant designed specifically for students between the age range of 18 – 29 years. A minimum amount of N1, 000 is required to open the account and account holders are to maintain a minimum balance of N200 to run the account.

To participate in the promo, XploreFirst customers are 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. Incremental deposits of N10,000 in the account entitles the account holder to multiple tickets for the raffle draw.

A total of 198 winners would emerge from the promo with 18 account holders (3 from each of the six geopolitical zones) being rewarded with scholarships of N150, 000 in a grand finale raffle draw and N5,000 airtime as consolation prizes to 180 account holders (5 from each of the six geopolitical zones).

According to the Group Head, Products & Marketing Support, Mr. Abiodun Famuyiwa, “FirstBank recognises the impact of a healthy savings culture in promoting financial inclusion amongst individuals, especially the youth. And with the saying, the youth are the leaders of tomorrow, we believe that with XploreFirst account, the youths are well positioned to take the lead in their financial activities through the exciting benefits the account offers.
So, if you are a student between the ages of 18 – 29 years, take a walk into any FirstBank branch near you to open an XploreFirst account. Start your journey to financial freedom today with Firstbank”.

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