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Tag: FCMB

  • FCMB speaks on customer who collapsed while using ATM, dismisses COVID-19 insinuations

    FCMB speaks on customer who collapsed while using ATM, dismisses COVID-19 insinuations

    First City Monument bank (FCMB) on Tuesday reacted to reports of a customer who collapsed at its Onipanu Branch in Lagos while using the Automated Teller Machine (ATM).

    Recall that TheNewsGuru.com (TNG) had exclusively reported how the unidentified customer collapsed and was assisted by the bank’s security officials.

    However, in a swift response on Tuesday via a statement, the bank said while he it is true that the customer collapsed, he (the customer) never exhibited symptoms of COVID-19 as insinuated on social media.

    Read full statement below:

    “Our attention has been drawn to a video making the rounds which shows a customer collapsing at our branch located at 178, Ikorodu Road, Onipan, Lagos State. We wish to clarify that:

    •At around 11am on Monday, May 04, 2020 a middle-aged man visited the branch to carry out a transaction on the ATM. In line with our COVID-19 health and safety measures, his temperature was taken and found to be normal, and a hand sanitizer was available for use beside the machine

    •While standing in line, however, the customer began to show signs of fatigue and collapsed. The fully masked and gloved branch support personnel came to his assistance, moving him to the branch security post.

    •Upon enquiry, the customer indicated he had not had anything to eat and had been waiting in line for a short while. After resting and eating some snacks, he regained his strength and left the branch on his own.

    •At no point did the customer exhibit any symptoms of respiratory distress, difficulty in breathing or high temperature as has been incorrectly reported on social media

    We understand the panic a 13-second video such as currently making the rounds can cause without the proper context at such a time as this. The current outbreak of COVID-19 has led to an unprecedented health situation and anxiety all around the world, including in Nigeria, where community transmission continues to rise. Ideally, this current anxiety should not be amplified by unverified, dramatic and purely hypothetical social media stories. We need to channel our energies towards curtailing the spread of the pandemic and ultimately, eradicating it entirely.

    FCMB is at the forefront of the drive to achieve these two objectives. We have deployed robust health and safety measures at all our open branches including making use of face masks by customers and staff mandatory; checking of temperature before admittance into our premises; provision of hand sanitizers which must be used before entry into the banking halls and ATM areas; hourly disinfecting of teller counters and customer service tables; and ensuring social distance is maintained at all times.

    We assure the public that we will remain unwavering in our commitment to doing all we can to safeguard our customers, employees and communities.”

  • Inside Lagos: 16-yr-old boy hides in FCMB bank overnight to steal N340,000

    Inside Lagos: 16-yr-old boy hides in FCMB bank overnight to steal N340,000

    A 16-YEAR-old boy, who allegedly hid in a bank toilet overnight and stole N340,000, was yesterday brought before an Igbosere Magistrates’ Court in Lagos.

    The teenager (surname withheld) of Abimbola Street, Even Estate, Ajah, Lagos was arraigned by the Ajah Police Division, Lagos, on a one-count charge of stealing.

    Prosecuting Inspector Peace Chukwudi told the court in a charge marked C/09/2020 that the defendant committed the offence on February 19.

    She alleged that the defendant was caught by security officials in the banking hall of a branch of First City Monument Bank (FCMB).

    Chukwudi said upon interrogation, the boy confessed that he gained entry into the bank just before 4pm, during closing time rush hour.

    He went to the toilet and hid until everyone left for the day.

    The court heard that the boy ransacked the workers’ safe at about 2:30 am, found the sum of N340,000 and concealed it in his clothes.

    He tried to sneak out of the banking hall but was spotted and arrested by the bank’s guards.

    The offence, according to Chukwudi, was punishable under Section 28 of the Criminal Law of Lagos State, 2015.

    The defendant pleaded not guilty.

    Magistrate Doja-Ojo remanded him at the Oregun Juvenile Corrective Home, Ikeja.

    She adjourned till April 15 for facts and sentencing.

  • Ijebu sons and daughters defy rain to attend Ojude-Oba festival

    Ijebu sons and daughters defy rain to attend Ojude-Oba festival

    Many Illustrious Ijebu sons and daughters on Sunday defied the rains to converge in Ijebu-Ode, Ogun State to grace the 2017 edition of the annual Ojude Oba festival in the town.

    The Ojude Oba celebration in Ijebuland is an annual event during which indigenes of different age groups, their friends and associates from both far and near thronged the palace of the Awujale, for the carnival-like celebration.

    Some of the dignitaries in attendance at the 2017 fiesta included a former Governor of Ogun, Otunba Gbenga Daniels, Otunba Olasubomi Balogun, the Proprietor of First City Monument Bank, Chief Kola Banjo, Chief Dayo Adeneye, and many others.

    Some Ijebu-Ode residents who deliberately abandoned their usual Sunday routines told the News Agency of Nigeria (NAN) that the Ojude Oba celebration was core to their unity as a people.

    Otunba Wahab Osinusi, Chairman, Ojudu Oba Festival Committee, said that the pomp and pageantry displayed in the Ojude Oba was an appreciation by the Ijebu Muslim faithful to the Awujale, for giving them the freedom of religious worship.

    According to him, pledging allegiance to the Oba was core to having a peaceful and controllable reign over all of Ijebu territory.

    “The reign of the Oba has become extremely great with the sustenance of this festival and we must remain faithful to his rule.

    “Over the years, the Ojude Oba has brought so much love, peace, prosperity and stability to indigenes both within Ijebuland and across the diaspora,’’ he said.

    Osinusi said that the gods will continuously bless partakers of the festival for their yearly contributions to ensure its success.

    Kayode Adetoro, a 24-year-old U.S.-based entrepreneur, said that the glitz and colours of the “Ojude Oba’’ were second to none globally.

    “I have always attended this festival since I was 18 with my late grandfather and every year, it opens my eyes to a lot more fun, people and traditional rites than I have learnt from previous ones.

    “Describing the parade of colours at the festival as that of a rainbow is not out of place because the Ijebu people use it to showcase their dress style, as a people.

    Otunba Olutoyin Osibogun, an ijebu indigene, said that the festival was an annual platform for sons and daughters of the soil to meet, interact and network across board.

    “We do not only showcase our culture but we help generations to learn and emulate the very essence of the festival.

    “Unity is what every Ijebu man stands for and with the current situation of the Nigerian economy, we are using this as a platform to stay strong in these trying times,’’ she added.

    Ojude-Oba is a Yoruba festival held in Ijebu Ode, Ogun State, in Southwestern Nigeria. It is held annually on the third day after Eid el-Kabir.

    The festival began over 100 years ago. Today, the festival is usually attended by over 250, 000 people from across the six geopolitical zones of Nigeria.

    It is often sponsored by the incumbent Awujale, the people of Ijebu-Ode, individuals and corporate organisations.

  • Etisalat debt predicament: 13 Banks’ shareholders mount huge pressure

    …ask telecoms firm to clear debt

    Shareholders of the 13 banks involved in the N1.2 billion loan for Etisalat Nigeria have asked the telecoms company to pay up its debt in order to guarantee the payment of annual dividends.

    The shareholder group told the News Agency of Nigeria in Lagos on Tuesday that the company risks legal action by the banks if it failed to settle its outstanding loan obligation.

    The National Coordinator, Progressive Shareholders Association of Nigeria, Boniface Okezie, said the affected banks should approach the court for receivership if Etisalat failed to settle the debt.

    Mr. Okezie said in view of the obligations the banks have to their shareholders, in terms of dividend payment at the end of the financial year, it was incumbent on Etisalat to pay the debt.

    On his part, the Chairman of Nigeria Professional Shareholders Association, Godwin Anono, said the company was under obligation to settle the debt, since the transaction was in line with the customer-bank relationship, involving terms and conditions that must be obeyed.‎

    Mr. Anono said the shareholders were in support of the banks’ move to acquire the company if it failed to settle the loan.

    “This is like any other transaction. It’s not government business. I stand on existing protocol to say that the banks should acquire the company if it fails to settle the debt,” he said.

    The Head Research, SCM Capital Ltd, Sewa Wusu, said where there was any breach of the terms and conditions of the loan between Etisalat and the consortium of banks, then the normal legal process should be followed.‎

    Mr. Wusu said the issue was beginning to elicit concerns in the banking industry considering the amount involved and its potential impact on the balance sheets of the banks banks.

    “Since the monetary authority is also involved in the negotiation, I am sure this will ensure prompt settlement of the situation among the parties,” he said.

    Etisalat had obtained a $1.2 billion (N377.4 billion) syndicated loan in 2013, from a consortium of 13 Nigerian banks, to finance a major network rehabilitation, upgrade and expansion of its operational base in Nigeria.

    The consortium of banks include Access Bank, Zenith Bank Plc, Guaranty Trust Bank Plc, First Bank Limited, Fidelity Bank Plc, First City Monument Bank (FCMB), Stanbic IBTC, Ecobank, United Bank for Africa (UBA) Plc and Union Bank of Nigeria Plc.

    Zenith Bank, Guaranty Trust Bank and Access Bank have the top three exposures of the total loan – N80 billion, N42 billion and N40 billion respectively.

    Etisalat Nigeria said last week it had paid about half of the initial loan (about N504billion), leaving a total outstanding sum of about $574 million.

    >>Also read: United Arab Emirates-based Etisalat Group says willingness to release its brand name is conditional

     

  • EFCC provides more evidence in trial of Kalu

    EFCC provides more evidence in trial of Kalu

    The Economic and Financial Crimes Commission (EFCC) on Wednesday called its fifth witness before a Federal High Court, Lagos, in the ongoing trial of a former Abia State Governor, Orji Uzor Kalu.

    The EFCC had on Oct. 31, 2016, preferred a 34-count charge bordering on N3.2 billion fraud against Kalu and his former commissioner for Finance, Ude Udeogo.

    Also charged is a company, Slok Nig. Ltd.

    The accused had pleaded not guilty to the charges.

    When trial resumed on Wednesday, the prosecutor, Mr Rotimi Jacobs (SAN), called his fifth witness, Mrs Toyosi Ekorhi, into the witness box.

    In her examination-in-chief, the witness, who is a compliance officer at the First City Monument Bank (FCMB), told the court that the bank had forwarded the account status of Slok Nig.Ltd to the EFCC.

    She said it was in response to an inquiry by the commission, over same, about two months ago.

    The witness told the court that she joined FCMB on Oct. 13, 2008, adding that the documents were retrieved from the archives of the defunct Inland Bank Plc.

    She, however, told the court that she had no knowledge of its contents because she never worked at Inland Bank.

    According to the witness, the company’s statements of account sent to the EFCC covered transactions carried out between Aug. 27, 2008 and Nov. 12, 2012.

    She, however, claimed ignorance of the transactions which she said were done in Finbank Plc.

    During cross-examination, the defence counsel, Chief Gordy Uche (SAN), enquired from the witness if the first accused was listed as a director of the company.

    In response, the witness said that the name of the first accused (Kalu), was not listed as one of the Directors of Slok Nig. Ltd.

    She added that the second accused (Udeogu) was also not a signatory to the company’s account.

    Justice Mohammed Idris, has adjourned until June 8 (tomorrow), for cross examination of the witness by the second defence counsel.

    In the charge, the accused were alleged to have committed the offences between August 2001 and October 2005.

    Kalu was alleged to have utilised his company to retain in the account of First Inland bank, (now FCMB), the sum of N200 million.

    The sum is alleged to have formed part of funds illegally derived from the coffers of the Abia State Government.

    In one of the counts, his company (Slok Nig Ltd) and one Emeka Abone, who is said to be at large, were also alleged to have retained in the company’s account the sum of N200 million, on behalf of the first accused.

    In counts one to 10, the accused were alleged to have retained about N2.5 billion in different accounts, which funds were said to belong to the Abia state government.

    Cumulatively, in all the counts, the accused were alleged to have diverted over N3.2 billion from the Abia State government’s treasury during Kalu’s tenure as governor.

    The offence is said to have contravened the provisions of Sections 15(6), 16, and 21 of the Money Laundering (Prohibition) Act, 2005.

    It is also said to have contravened the provisions of the Money Laundering Act of 1995, as amended by the amendment Act No. 9 of 2002 and Section 477 of the Criminal Code Act, Laws of the Federation, 1990.

     

  • Osinbajo urges executors of SIP to ensure activities change Nigeria’s socio-economic

    Acting President Yemi Osinbajo has urged executors of the Social Investment Programmes (SIPs) of the Federal Government to ensure their activities change the current socio-economic situation in the country.

    Osinbajo said this in Abuja on Tuesday while receiving a portal donated by the management of the First City Monument Bank (FCMB) for use in the monitoring and evaluation of the School Feeding Programme under the SIP.

    The acting President stated that the private sector has an active role to play in the implementation of government schemes.

    He, therefore, called on all stakeholders to participate in such programmes with commitment.

    “Our Economic Recovery and Growth Plan really does assume a lot of private sector participation.

    “And we expect that participation to be real and this is the sort of thing we are talking about.

    “I don’t mean just the CSR type of involvement but involvement even in the thinking through how these could be done.

    “We are thinking of doing real a game-changing activity.

    “For example in agriculture; we recognize now that we have got to be able to produce enough rice for our people between now and possibly the end of 2018.

    “We must absolutely stop the importation of rice; there is no reason a country our size with all the arable land that we have cannot produce enough rice for our own consumption and of course export as time goes on,’’ he said.

    He noted that a lot was already going on especially in the Northern borders.

    Osnbajo, however, disclosed that the important thing was that the act of growing rice cannot in itself yield the produce for consumption without the milling aspect.

    “Looking at our milling capacity, which is one of the reasons we are not getting enough rice to the markets, the milling capacity is quite low.

    “But there are a few private sector individuals and companies that are coming into milling now but we really need game-changing activity in that respect,’’ he stated.

    The acting President said some of the mills in the country were very reasonably small mills adding that the country needed to have about 200 metric ton of milling.

    According to him, there is a private investor who has signed up and looking at a million metric tons of milling which he described as huge compared to what the country had some three months ago.

    He said such was the type of game-changing types of investments which the government wanted the private sector to do which could not be provided by government alone.

    The Acting President noted that government could only provide a fraction and could not be providing infrastructure for business when it could not manage such efficiently.

    He said he was excited about what the FCMB represented and had been doing.

    He congratulated the organization for being pro-active and “a company that thinks along with policy makers and with other persons concerned about the Nigerian economy’’.

    Osinbajo expressed Federal Government’s gratitude for the strong support the FCMB had made to the School feeding programme and other efforts of government.

    He said he found the donation impressive because the bank recognized that the business of government should not be left for only those elected or appointed.

    “All of us must be participants because the consequences for good or for ill affect us all,’’ he said and urged other corporate organisations to emulate the bank.

    He said the portal would be extremely useful because the Home Grown School Feeding programme “is clearly the largest of its sort in Africa’’.

    “There is no school feeding programme that matches it in size of complexity as we are dealing with literally millions of school children.

    “And because it is a home grown feeding programme it means there are linkages with agriculture and the entire value chan.

    “It is complex and we are not importing food or selling ready-made food; you have vendors and market people involved in it as well as cooks.

    “it is a very involved process and that is why this portal is very important because it helps us with the technical aspects to update ourselves, monitor and screen all that is going on,’’ Osinbajo added.

    The Special Adviser to the President on Social Investments, Mrs Maryam Uwais, noted that the bank had engaged the government in December 2015 and offered the portal as its Corporate Social Responsibility CSR).

    She said she was happy it became a reality and being something that the scheme had to take ownership of to be able to engage the states and other participants.

    “It is the first step, we have an enterprise programme office to host all our information so we need to engage with all of that to come up with all we require for a seamless process,’’ Uwais said.

    The Managing Director of FCMB, Mr Adam Nuru, while making the presentation thanked the Federal Government for initiating the HGSF programme to improve the wellbeing of the children.

    He said the bank got involved in the scheme to demonstrate its value as a financial institution committed to delivering exceptional services for life changing opportunities for its customers and the country at large.

    According to Nuru, the portal is an information hub to aid remote monitoring and evaluation of the HGSF programme.

    He said the portal had the capacity to accurately capture data of all school pupils and had a software for parents, teachers and other stakeholders to send daily feedback on the scheme’s field activities.

  • Ladi Balogun steps down as FCMB GMD, to be replaced by Adam Nuru

    The First City Monument Bank Group (FCMB Group) on Tuesday announced a change in its leadership cadre effective from March 20, 2017.

    The Group Managing Director of the commercial banking arm, FCMB Limited, Ladi Balogun having spent 10years in that capacity is stepping down for Adam Nuru who is currently Executive Director in charge of Business Development for the bank.

    TheNewsGuru.com reports that Balogun is expected to assume the role of Group Chief Executive of the holding company, FCMB Group Plc. The holding company comprises FCMB Limited, FCMB Capital Markets, CSL Stockbrokers and CSL Trustees.

    This was revealed in a statement signed by the Group Head, Corporate Affairs of the bank, Diran Olojo and made available to the TheNewsGuru.com.

    The statement reads in full:

    “We are pleased to announce the reorganisation of our leadership at the Group level, as well as at our flagship company First City Monument Bank Limited (FCMB Limited). Effective March 20th, 2017, Ladi Balogun,having served as Group Managing Director of the commercial banking arm, FCMB Limited for 10 years, will be stepping down in this capacity.

    He will assume the role of Group Chief Executive of the holding company, FCMB Group Plc. The holding company comprises FCMB Limited, FCMB Capital Markets, CSL Stockbrokers and CSL Trustees.

    Under Ladi Balogun’s leadership, FCMB Limited has undergone a successful transformation from a merchant bank to a top 10 commercial bank in Nigeria across key metrics. During this period the bank has emerged as a leader in consumer finance, agricultural banking and electronic banking. The bank’s franchise has grown to 4 million customers, 220 branches and a successful banking subsidiary in the United Kingdom.

    Mr. Balogun will be succeeded as Managing Director of FCMB Limited by Adam Nuru, who is currently the Executive Director in charge of Business Development for the bank. He previously served as Regional Director, in charge of Abuja and Northern Nigeria, where he was responsible for growing the bank’s Northern franchise to become the largest and most profitable region of the bank.

    Adam Nuru has 28 years of banking experience, with 7 years spent with FCMB. He is a graduate of AhmaduBello University, Zaria, where he studied Business Administration, and has attended management programmes at leading international educational institutions”.