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FBN Insurance Brokers Hosts Webinar to Sensitise SMEs on Risk Management, Cyber Security

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FBN Insurance Brokers Limited, a subsidiary of Nigeria’s leading financial services group, FBN Holdings Plc, has announced a webinar to sensitise SMEs on risk management and cyber security. Spearheading discussions at the webinar are seasoned experts on insurance brokerage, cyber security and risk management.

The event is themed Risk Management and Business Continuity amidst COVID19 and scheduled for 10:00am on Thursday, 17 September, 2020.  To participate in the event, click here to register.

Olumide Ibidapo, MD/CEO FBN Insurance Brokers will speak on Risk Management; Harrison Nnaji, Chief Information Security Officer (CISO), FirstBank will drive conversation on Cyber security and Jamie Eaton, Regional Director, Financial Lines and Client Management, Howden One Insurance Brokers will focus on Cyber Insurance as a risk transfer option for cyber risks.

Speaking on the event, Olumide Ibidapo, MD/CEO FBN Insurance Brokers said; “SMEs remain the engine of growth of any economy, especially developing ones like ours and we recognise the indelible roles they play at creating jobs and meeting the economic and social needs of individuals.

We are excited with this webinar and implore every business owner to participate, as they will be exposed to very vital information to keep their business afloat and overcome various risks as well as operational challenges, including cyber security threats that have been heightened by the COVID-19 pandemic.”

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Business

FirstBank Deepens Financial Inclusion with Largest Agent Banking Network, Empowers SMES

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At present, there are over 86,000 banking agents across 772 out of the 774 local government areas in Nigeria, a demonstration of FirstBank’s commitment to deepening financial inclusion and ensuring the unbanked are adequately catered for. In an interview with BusinessDay, Adesola Adeduntan, FirstBank’s CEO, noted that over N9.6 trillion had been processed through the bank’s agent network.

As he explained, FirstMonie agents have supported several government and NGOs’ cash transfers to the poorest of the poor in the rural areas. Additionally, selected FirstMonie agents in the rural communities are equipped with BVN enrolment devices; as such they are able to enrol and open accounts for rural dwellers that hitherto may not have had the opportunity to be included in the formal financial services system.

The bank’s commitment to providing access to finance for Small and Medium Enterprises (SMEs) was also highlighted by the CEO, who hinged this on “their potential to impact the economy”.

He discussed the bank’s value adding solutions that have created a functional ecosystem for SMEs to thrive. The ecosystem includes propositions such as connection of the SMEs to talents and resources/cutting edge tools, access to business finance and market, capacity building opportunities and policy advocacy.

These are all aggregated on its SMEConnect platform as value adding products and services for easy access and at rates (prices) that are competitive and mostly discounted. The SMEConnect is a digital platform that allows the SMEs connect to FirstBank’s offerings from the comfort of their locations anywhere in the world.

This, according to Adeduntan, has been well received by the SME community as we engage across the country.

Culled from BusinessDay

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AfCFTA: We Are Well-Positioned to Make Payments Smooth for Our Customers – Ecobank CEO

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The Group Chief Executive Officer, Ecobank Transnational Incorporated (ETI), Ade Ayeyemi, has affirmed that the pan-African banking group is facilitating smooth and instant payments across Africa as countries start the implementation of the African Continental Free Trade Area Agreement (AfCFTA).

Ayeyemi who made this assertion during an interview with the media recently, pointed out that Ecobank has been able to effect international payment across the 33 countries where it operates on the continent through its Rapid Transfer platform. He reiterated that the bank’s platform can be scaled to accommodate other African countries under the AfCFTA based on their respective regulations.

According to the Ecobank Group Chief, the banking group is one of the key supporters of the AfCFTA which he believes will be of great benefit to both the continent and customers of the bank. “With this Pan-African exposure, the governments and our customers will re-evaluate their businesses to efficiently take charge of bigger opportunities. So, if you manufacture goods in Aba for the Nigerian market, you can now start thinking of how to expand your manufacturing capacity to be able to export across West Africa and also other African countries, not just looking at Nigeria as a market alone. And as you change your demand forecast, you need to now improve your capacity to produce and that will mean importing new machinery to expand your manufacturing base, develop bigger market and hire more people.”

He is optimistic that the introduction of the AfCFTA would curb the regulations and government policies limiting the flow of foreign exchange. “Banks will work with other banks like Afrexim Bank to provide a swift payment platform as Africa will be the first market for most African products. For instance, there is no need for Nigeria to import rubber from Malaysia when rubber is being exported by Côte d’Ivoire.  It is better within the African space. So, there is a whole range of businesses that we are having conversations with our customers, the governments and the African Union, because of our pan-African presence.”

The AfCFTA which came into effect this January, aims at creating a single African wide market for goods and services. It will pave the way for rapid dismantling of impediments to cross-border trade leading to free movement of business, persons and investments across the continent, thus leading to the establishment of the Customs Union. It will bring together all 55 AU member states, covering a market of more than 1.2 billion people. It is set to be the world’s largest free trade area since the formation of the World Trade Organization In terms of numbers of participating countries.

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Union Bank Renews Commitment to CSR

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As part of efforts to drive sustainable social impact, Union Bank and its employees have established communal water boreholes in six underserved communities across Nigeria, directly impacting over 15,000 people.

The bank said this in a statement titled ‘Driving social impact: Union Bank and employees provide six communities with potable water’.

It stated that the donations, which provided the gift of water to one community from each of the six geopolitical regions of the country, formed part of activities to mark Union Bank’s 2020 Employee Volunteer Day.

The statement said EVDay, which was introduced in 2019, reinforced Union Bank’s commitment to building a workforce conscious about giving back to the communities where they live and work.

 

It said that this year, the gift of water project was selected to provide more Nigerians in underserved communities with access to potable water supply, improving their quality of life and enabling them to maintain the proper handwashing routine advised by the World Health Organisation.

The statement said the communal boreholes were established in Ubulu Uku in Delta State; Gidan Dagachi Kureken Sani in Kano State; Kpebi-Sarki in Abuja; Ohubo Village, Ama Nkanu Community in Enugu State; Sari Iganmu, Orile in Lagos State and Abujan Amare, Gashua in Yobe State.

Commenting on the donations, the Chief Executive Officer of Union Bank, Emeka Emuwa, said, “Union Bank is proud to lead the charge for social impact

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