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FirstBank employees lift partially sighted, down syndrome children

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Still in the spirit of the 2018 Corporate Responsibility and Sustainability Week (CR&S), themed ‘Touching Lives; You First’, employees of First Bank of Nigeria Limited recently shared moments with physically challenged children in Lagos and also presented numerous foodstuffs and toiletries to them. The CSR activity which took place all over Nigeria and other Africa countries where FirstBank is located through its subsidiary; FBNBank had staff visit orphanages; homes for the physically challenged, and other institutions that require support across the country. These subsidiaries include, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal,

Defying the torrential rain, the top-level management staff, on Saturday, June 23, 2018, visited Pacelli School for the Blind and Partially Sighted Children, and the Down Syndrome Foundation of Nigeria in Surulere, Lagos respectively to interact with the pupils and also presented food, health and sanitary items contributed by the staff of the bank to them.

Similarly, the Bank presented foodstuff and other materials to orphanage babies home at Anua in Uyo and Generate of Handmaid of Holy Child of Jesus motherless home Ifuho Ikot Ekpene local government area of Akwa Ibom, with a view to giving the children a sense of belonging.

In Abuja, it was the same story as Al Ansar Orphanage Home and Abuja School for the Handicap, both in the Kuje Area Council of the FCT, Abuja, also received essential materials.

Expressing appreciation on behalf of management and pupils of Pacelli School for the Blind and Partially Sighted Children, the Headmistress, Sister Jane Onyeneri, thanked FirstBank for the kind gesture and the timely gifts.

She added that the school founded on June 16, 1962 and owned by the Catholic Arch-Diocese of Lagos, accommodates 140 pupils, adding that it is a non-denominational institution.

“The school offers the pupils free tuition, free feeding and free accommodation. So, we really appreciate FirstBank’s timely intervention and consider it an act of kindness that will go a long way in ensuring the school continues to do this”, Onyeneri stated.

Speaking on behalf of the FirstBank team, the Group Executive, Retail Banking, Lagos and West, Tunde Owolabi, said: “FirstBank Corporate Responsibility and Sustainable Week is set aside to promote acts of random kindness and create opportunities for staff to give their time and resources to defined courses in line with the bank’s Corporate Responsibility & Sustainability strategic approach.”

He disclosed further that ‘Hope Rising’ initiative is one of the key programmes of the Bank designed to empower people living with disabilities. “Its key objective is engendering inclusivity and diversity through training as well as inclusive events. The partnership with Pacelli School falls under the Hope Rising platform and this includes support in cash and kind”, Owolabi noted.

Touched by the show of appreciation in the emotion-laden sonorous songs rendered by the pupils, Owolabi went ahead to make a personal donation to the school, while appealing to other well-meaning Nigerians to render assistance to the needy. The FirstBank team also promised to send representatives and more gifts at the school’s graduation taking place on July 12, 2018.

The FirstBank team that visited Pacelli School for the Blind, comprised the Head, Alternative Workforce, Yinka Folorunsho, and Head, Talent Management, Muyiwa Olulaja, amongst others.

Apart from visiting and donating to orphanages/ less privileged homes and IDPs, the other four key initiatives of the FirstBank’s CR&S are Career Counselling for secondary school students, commemoration of the UN International Widow’s Day in partnership with the International Women Society, and Staff Promoting Acts of Random Kindness (SPARK) initiative designed to encourage people to be kind and uphold values. First Bank of Nigeria Limited is also in partnership with Vision Spring to empower people with impaired vision by providing eyeglasses and lens at very affordable rates.

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BUSINESS

CBN injects another $210m into Forex Market

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In its latest round of intervention, the Central Bank of Nigeria (CBN) on Tuesday, November 13, 2018, injected the sum of $210 million in the inter-bank foreign exchange market.

Figures obtained from the CBN indicate that the authorized dealers in the wholesale segment of the market received the sum of $100 million while the Small and Medium Enterprises (SMEs) and invisibles segments were allotted the sum of $55 million each.

The Bank’s Director, Corporate Communications Department, Mr. Isaac Okorafor assured that the CBN would continue to sustain liquidity in the forex market. He also expressed optimism that the Naira will continue its strong run against the dollar and other major currencies around the world, considering the stability in the market and robust reserves.

The Central Bank of Nigeria (CBN) had on Friday, November 2, 2018, made interventions to the tune of $337.16million in the retail Secondary Market Intervention Sales (SMIS) and CNY 56.17million in the spot and short-tenored forwards segment of the foreign exchange market.

Meanwhile, the Naira on Tuesday, November 13, 2018 exchange at an average of N360/$1 in the BDC segment of the market.

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BUSINESS

Diamond Bank denies merger, acquisition talks with Access Bank

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Diamond Bank Plc and Access Bank Plc have notified the Nigerian Stock Exchange and the general public that both banks are not in any merger or acquisition talks as being circulated in some media.

The banks, in separate statements to the exchange on Monday, denied the rumours that they were engaged in merger and acquisition talks.

Uzoma Uja, Diamond Bank’s Company Secretary, said it was not in discussion with any financial institution at the moment on any form of merger or acquisition.

Uja said that the attention of Diamond Bank had been drawn to the rumour in the media stating that the bank was purportedly in discussion with Access Bank to acquire the bank.

He said: “We wish to state categorically that the bank is not in discussion with any financial institution at the moment on any form of merger or acquisition.

“We trust that the above clarifies the position of the bank with regards to the rumour on the various media platforms.”

Also, Sunday Ekwuochi, Company Secretary, Access Bank, said the bank had not entered into any such discussion with Diamond Bank or any other institution.

Ekwuochi said: “As a publicly quoted company built on best practice, the bank is fully cognisant of its disclosure obligations in respect of any such corporate action and will always discharge its obligations in the most professional manner.

“Consequently, any statement regarding any such corporate action that is not issued by the bank should be disregarded.”

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BUSINESS

Teleology finally takes over 9mobile, names new board

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Teleology Holdings Limited has finally taken over 9mobile.

This is coming 11 months after the company made it to the top five companies making a bid to take over the telecommunications company.

In a statement seen by TheCable, and signed by Mohammed Edewor, Teleology said it “is pleased to announce the constitution of a new Board of Directors for Nigeria’s multi-award-winning telecommunication company, 9mobile”.

This follows “the successful completion of the tenure of the former Board appointed by the Central Bank of Nigeria (CBN) and in fulfillment of the consequential transfer of final ownership to the new investors, Teleology Nigeria Limited”.

“We thank all out-going members of the Board for helping to shepherd 9mobile through the critical transition phase it has passed through since July 2017 and wish them the very best in their future assignments.

“For us, the composition of the new Board of Directors is another significant milestone, and this follows the issuance of final approval of no objection by the Board of the Nigerian Communications Commission (NCC) to the effect that the technical and financial bids Teleology submitted for 9mobile met and satisfied all the regulatory requirements.

“This is indeed the dawn of a new era in the evolution of the 9mobile brand in the Nigerian market”.

The new board of directors is constituted by:

  1. Nasiru Ado Bayero (Chairman)
  2. Asega Aliga (Non Executive Director)
  3. Adrian Wood (Non Executive Director)
  4. Mohammed Edewor (Non Executive Director)
  5. Winston Ndubueze Udeh (Non Executive Director)
  6. Abdulrahman Ado (Executive Director)
  7. Stephane Beuvelet (Acting Managing Director)

Nasiru Ado Bayero, the new chairman, appreciated the telco’s employees and subscribers, who is said should be prepared for best-in-class services forthwith.

“As we begin this new epochal phase, we wish to thank all the employees who built this viable business,” Ade Bayero said.

“Our debt of gratitude also goes to our subscribers even as we assure them to get ready for real best-in-class additional value for their relationship with the 9mobile brand.

“Without you, there could not have been a 9mobile business for us to invest in today. We will justify your confidence in our brand by making significant investments that will improve the value you get for using 9mobile.”

The sale process of 9mobile was initially billed to be concluded on January 16, 2018, following an approval of the extension of the deadline by the Nigerian Communications Commission (NCC) after an initial December 2017 deadline.

Teleology eventually won the final bid, ahead of Airtel, Globacom, Smile, Helios.

The company, 9mobile, formerly known as Etisalat Nigeria was taken over in July 2017 following a N541 billion debt overhang.

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