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FirstBank Empowers 7000 Students on Financial Literacy, Commemorates Global Money Week

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Nigeria’s premier financial services brand, First Bank of Nigeria Limited, joined over 50,000 global institutions to commemorate the 2019 Global Money Week (GMW) which took place on 25 – 31 March 2019. The 2019 Global Money Week is themed “Learn Save Earn”.

 

Representatives of FirstBank imparted nuggets of financial literacy to over 7000 students in schools spread across the 6 geo-political zones of the country which is also in line with the mandate of the Central Bank of Nigeria (CBN) that each bank in the country teach in selected schools across the 6 geo-political zones. Among the schools visited by FirstBank include the CEO school: Fiwasaye Girls Grammer Sch. Alagbaka Akure.

 

According to the official website of Global Money Week (GMW); “Child & Youth Finance International (CYFI) initiative, is an annual financial awareness campaign built to inspire children and young people to learn about money matters, livelihoods and entrepreneurship” which is akin to FirstBank’s commitment over the years to encourage its key stakeholders, customers, to imbibe savings culture whilst having their children also carried along on the essence of savings through its youth focused products, KidsFirsts (0 – 12 years) and MeFirst (13 – 17 years) carefully designed to meet the financial targets of the given demographics. These accounts ensure the accounts holders acquire the rudiments of banking and financial literacy as they grow into adulthood and they both come with exciting packages to support the financial journey of the children, enabling them learn money management from an early age.

 

The Global Money Week is in line with FirstBank’s FutureFirst programme, specially designed to equip students with the knowledge of money management, early entrepreneurship skills, and financial independence whilst stimulating in them savings culture at an early age. Commemorating the Global Money Week is consistent with the Bank’s financial literacy initiatives.

 

Speaking on the Global Money Week, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, First Bank of Nigeria Limited said “interestingly the Global Money Week coincides with the month of the bank’s 125th anniversary celebration which indeed has been filled with activities of telling our story to the world, thereby promoting the need for efficient financial decisions as not just an individual but a business entity. The FirstBank story is one to be exemplified by all, especially the youth at promoting good money decisions towards business sustainability.  .

 

“As the premier financial institution in Nigeria, we are committed to continually promote financial literacy amongst the younger generation as with them, the future of the country is secured, and they would be knowledgeably equipped and guided to make the right financial decisions, critical to improving their lives and venture into the right business activities, consequently influencing the economy at large” she concluded.

 

Later in the second quarter of the year, FirstBank is billed to organise its week long Corporate Responsibility and Sustainability (CR&S) week which among many activities would offer FirstBank employees the opportunity to give their time and resources to the service of humanity. The CR&S week is primarily centred on financial literacy in schools across Nigeria and other locations where the Bank operates, notably; Democratic Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone, Senegal, United Kingdom and France.

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FG Further Reduces Petrol Pump Price to N123.5 Per Litre

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The Federal Government on Tuesday night reduced the price of petrol from N125/litre to N123.5/litre.

Current petrol price indicates a reduction of N1.5 on every litre of petrol purchased nationwide.
It announced the reduction through the Petroleum Products Pricing Regulatory Agency, after a whole day meeting with stakeholders in the oil and gas sector in Abuja.

Announcing the reduction, the Executive Secretary of the PMS pricing regulator, Abdulkadir Saidu, said, “PPPRA, in line with the government approval for a monthly review of Premium.

“Motor Spirit pump price hereby announces guiding PMS pump price of N123.50 per litre.

“The guiding price which becomes effective 1st April 2020, shall apply at all retail outlets nationwide for the month of April 2020. PPPRA and other relevant regulatory agencies shall continue to monitor compliance to extant regulations for a sustainable downstream petroleum sector.”

It added, “Members of the public and all oil marketing companies are to be guided accordingly.”

The spokesperson for PPPRA, Kimchi Apollo, had told our correspondent at 7.30pm that stakeholders had been meeting on the new price since Tuesday morning.

Officials from the Central Bank of Nigeria, Nigerian National Petroleum Corporation, oil marketers and labour unions, among others, who constitute the petroleum products price modulation committee attended the meeting.

On March 19, 2020, a day after the Federal Government announced the pump price of N125/litre for petrol, the PPPRA declared that there was the possibility of a new price regime for the PMS beginning from April 1, 2020.

It explained that the N125/litre price might last till the end of March, as a new cost for petrol might be introduced on April 1.

Saidu had told journalists that the PPPRA would be undertaking a review of the PMS price and would announce a new price for the product on April 1 (today) if there were changes in the parameters used in determining the N125/litre pump price.

In another development, the Transmission Company of Nigeria on Tuesday announced an improvement in power generation.

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FirstBank Donates N1bn to Fight Against COVID-19, Reiterates Commitment to Safety

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FirstBank has announced its donation of the sum of N1bn towards the joint effort by the Nigerian Private Sector Coalition Against COVID-19 (CACOVID) to rapidly expand the health facilities; especially Testing, Isolation, treatment and the provision of Intensive Care Unit (ICU) facilities pivotal to controlling the spread and importantly, treating individuals diagnosed with COVID- 19. This is in addition to the Bank’s drive to move one million children to e-learning, together with an early partner – Roducate – as recommended by the Ministry of Education, Lagos State

In line with the 14-day stay home directive for Lagos, Ogun and FCT Abuja in the speech by President Muhammadu Buhari, the Bank has also reiterated its preparedness to provide essential Banking services through its alternative channels to its customers and the public at large which is in line with its robust Business Continuity Plan.

Updating on the Bank’s efforts; the Bank’s CEO, Dr. Adesola Adeduntan, said “we promise to continue to look at all areas of intervention where our business infrastructure, reach, digital platforms and other natural strengths lie and can be deployed to further support all efforts for Nigerians; young and old alike.

To that end, we will continue to communicate ways in which we can do more together.

We thank our community of friends, customers and other stakeholders who have continued to send us ideas and initiatives and are gladdened at the solidarity we see as Nigerians come together to tackle this under one umbrella.

Please stay safe and let’s work together to flatten the curve”, he concluded.

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Coronavirus: FirstBank Devices Measures to Protect Employees, Customers, Others

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Nigeria’s leading financial inclusion services provider, First Bank of Nigeria Limited, has announced proactive measures it has taken to control the spread of the COVID – 19 (Coronavirus) pandemic.

The Bank’s Group Head, Marketing & Corporate Communications, Folake Ani-Mumuney, said “embedded in our corporate strategy is business continuity management that ensures the delivery of products, services and initiatives to our stakeholders and enabling the economy in the long-term with minimal impact.

Therefore, we have employed necessary measures to keep our employees, customers and the general public safe-guarded and sensitised on preventive steps to flatten the curve at the fastest possible rate. These include the deployment of temperature measuring tools; hand sanitisers; face masks and adopting social distancing including utilizing virtual meetings. We have also cancelled owned and partnered planned events in the interim; suspended staff travels and have put measures in place to identify and communicate to staff who are arriving from affected countries to self-quarantine following the established protocols by the World Health Organisation and the government.

In addition, we have been amplifying all necessary official information from relevant health bodies and partners such as encouraging everyone to adhere to good hygiene practices which comprise regular cleaning of all surface areas – for example, tables, door handles – with disinfectants, consistent washing of hands as well as avoiding close contact with people and staying away from crowded environment’’.

Encouraging the use of cashless transactions, Mrs. Ani-Mumuney said; “we implore all our customers to embrace cashless transactions across our self-service platforms like *894# USSD banking services, FirstMobile, WhatsApp Banking, First Online for their needs like funds transfers, various bill payments, credit and internet data recharge and much more. In need of quick loans, these self-service platforms are also designed to meet their immediate needs through our FirstAdvance service”.

For enquiries and complaints, customers are encouraged to contact the Bank’s 24 hours multi-lingual customer care centre, FirstContact, on 01-4485500 or email, firstcontact@firstbanknigeria.com.

She noted that the Bank is committed to protecting the health and safety of all its staff, customers and host communities as together the fight against Coronavirus would be won.

The National Centre for Disease Control (NCDC) should be reached on its Toll-Free Number: 0800 9700 001 for immediate medical attention and advise.

 

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