Business
FirstBank Holds Fifth Annual Corporate Responsibility and Sustainability Week
In furtherance of its continued commitment to impacting the lives of individuals in its host communities across 7 Countries: Nigeria, United Kingdom, Ghana, DRC, Guinea, Sierra Lone, Senegal and Gambia. First Bank of Nigeria Limited has announced the Fifth edition of its Corporate Responsibility & Sustainability (CR&S) week, scheduled for 22- 27 August 2022.
The event which is themed: “Kindness…. A Way of Life” reflects the single-minded purpose to make a difference in the world by inspiring and institutionalising kindness. SPARK is an acronym for Start Performing Acts of Random Kindness and it is a values-based initiative designed to raise consciousness that we can choose to be kind.
The FirstBank CR&S Week is a dedicated week designed to offer opportunities for employees to give their time & resources to defined causes in line with the Bank’s CR&S strategic approach. The CR&S Week will offer employees opportunities to give their time & resources to defined causes. The Week’s activities are an aspect of the Bank’s Employee Giving & Volunteering Program, which was instituted to encourage employees to give back to the community as well as inculcate in them the integral corporate culture of giving.
The Bank held the maiden edition of the CR&S week in 2017 with a focus mainly on three key initiatives/activities which were giving and visits to orphanages/less privileged homes/IDPs; career counselling day; and Staff Promoting Acts of Random Kindness (SPARK) initiative – which is now Start Performing Acts of Random Kindness. The CR&S week has become more successful in subsequent years and it is fast becoming a household name in the Bank’s host economies.
There are five main activities to be implemented during this year’s CR&S Week in Nigeria, FBNBank UK and across the SSA markets. These activities include SPARK APP, Kind Comments Day, Visits to orphanage/less privileged homes, SPARK School Engagement, and Women Economic Empowerment. The major highlight of the Week will be the launch of the SPARK APP. The app is strategic in the Bank’s journey to institutionalize “A Day of Kindness” on a national level, and globally position the Bank as a Corporate Citizen in leveraging new media to drive sustainability practices.
The SPARK App is a sensational application designed to have individuals abreast with the act of kindness through various kindness-based quotes and inspirational phrases that will be displayed on one’s phone screen, especially when the phone is idle.
Kind Comments Day is an initiative that focuses on inspiring and encouraging everyone to be deliberate with the use of kind words in relating or interacting with anyone.
In addition, with Women Empowerment, the Bank will support, VVF patients in need of surgical operations and also empower them with vocational skills as they integrate back into the society.
The SPARK Schools Engagement will be implemented through the National Competition of JAN SPARK School Integration. The activity is aimed at rewarding the various participating students, following their SPARK activity, Through the partnership with JAN, SPARK is integrated into the JAN Company Program, where students are taught the values of SPARK. The SPARK schools’ competition has been tied with Company programme regional competition,ensuring they imbibed the values taught during the training. One of the highlights of the event is the visit to orphanage homes and the less privileged, across various cities which will be carried out by volunteers from the Bank.
Speaking on the week, Dr. Adesola Adeduntan, CEO, FirstBank said “The CR&S Week is another opportunity to strengthen our commitment and extend our reach beyond the communities where we operate in Nigeria and across our subsidiaries. Over time, our goal has stayed the same, to create platforms through which our positive impact is felt.”
“For us in the FirstBank Group, beyond saying that we care, we take a step further and show it,” he concluded.
Through the years of commemorating its annual CR&S Week, FirstBank has impacted lives across its host communities in Nigeria, the United Kingdom and its SSA subsidiaries. These impacts comprise the partnership with Lagos State Government on the provision of a Primary Health Centre at Ijedodo Community, Lagos State; engagements with over 60 charities, Non-governmental organisations, orphanages, correctional centres, schools and Internally Displayed Persons (IDP) Camps which resulted in touching the lives of over 20,000 underprivileged individuals in the society including widows, orphans and children with disabilities.
UBA Group senior executives recently concluded the Group’s Half Year Business Review. Held at global headquarters in Lagos Nigeria, Group Managing Director/CEO, Oliver Alawuba, brought together executives responsible for UBA’s twenty-four countries of operation.
It was an opportunity to restate the Group’s pan-African strategy, and commitment to further expanding the Group’s coverage across high potential markets across Africa, while also deepening its operations in its existing twenty African presence markets. With over 51.7% of Group revenues from ex Nigerian operations, UBA’s journey to being Africa’s most diversified financial services group was clearly in evidence,
The international strategic intent reinforces with the Group’s intention to deliver innovative financial solutions to its fast-growing global customer base. The strategy demonstrates UBA’s unique position as Africa’s global bank and ability to leverage growth opportunities in emerging and leading African markets.
The Group commenced its Pan African journey, with its entry into Ghana in 2004, followed by rapid expansion into 18 additional African markets. Today, as a resilient and future-focused institution, UBA continues to push boundaries by connecting Africa to the world and the world to Africa.
Mr Alawuba highlighted the Group’s expansion plans, disclosing that the Group is excited about the vast opportunities that the new markets present, a testament to UBA Group’s confidence in the African economy, providing world-class banking services that meet the continent’s evolving needs.
“UBA’s vision is clear – we are building a truly global institution anchored in Africa, but serving customers across continents. Further strategic expansion positions us to unlock new opportunities, support intra-Africa trade, and deliver world-class banking experiences wherever our clients choose to do business,” Alawuba said.
“In Europe, UBA has operations in the United Kingdom and upgrading its license in France, expanding its capacity to serve cross-border trade, investment flows, and the African diaspora, complementing our over 40-year presence in NY. These moves signal a clear message of UBA’s intent to reshape the competitive landscape”, Alawuba further said.
As part of the Group’s plan to expand its global presence, UBA, in January, announced plans to open operations in Saudi Arabia.
Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology. United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees’ group wide and serving over 45 million customers globally.
Ecobank Nigeria, an affiliate of the leading pan-African banking group, Ecobank Group, has announced a comprehensive suite of innovative financial solutions designed to support all key stakeholders within the education ecosystem. These offerings are aimed at driving financial inclusion, operational efficiency, and sustainable growth across the sector.
For school owners and educational leaders, Ecobank offers cash-backed loans to support both operational and capital expenditures. These are complemented by treasury management tools that enhance financial oversight, along with digital collection platforms that ensure seamless and efficient school fee processing. Teachers and non-teaching staff also stand to benefit significantly. Ecobank provides salary access tools that enable timely and flexible income management, career development programs to support continuous professional growth, and financial wellness plans designed to promote long-term financial stability.
Suppliers and partners within the education value chain benefit from tailored financial solutions such as invoice factoring for improved cash flow, inventory financing to maintain operational continuity, and marketplace visibility to expand their reach and business opportunities within the sector.
Speaking at the unveiling event in Lagos, Kola Adeleke, Executive Director, Commercial and Consumer Banking at Ecobank Nigeria, reaffirmed the bank’s commitment to empowering the education sector with practical financial solutions that address real-world challenges, enabling all participants, from institutions and educators to families and partners, to thrive.
“Our integrated financial and non-financial propositions form part of a broader strategy to strengthen our leadership in the education financing space, while contributing meaningfully to national and continental goals around access, equity, and excellence in learning. We have designed these solutions to meet the diverse needs of school proprietors, teaching and non-teaching staff, students, and parents. Ecobank is committed to empowering the education sector through seamless collections, access to credit, and a suite of sustainability-focused offerings. Education is a pillar of national development, and we recognize the sector as an integrated system of needs and opportunities. Our goal is to support this system not just with financing but also with digital tools, career development programs, and sustainability initiatives,” he said.
Also speaking, Adebukola Ademiluyi, Head of Education, Faith, and Social Services at Ecobank Nigeria, highlighted the bank’s commitment to affordable and inclusive financing options. She noted that by integrating smart financing with sustainability, digital infrastructure, and inclusive participation, Ecobank is pioneering a full-service banking model tailored to the realities of Africa’s education sector.
“More than just funding, we are enabling seamless school management systems through API partnerships that digitize operations such as student registration, staff payroll, inventory management, and parental communication. We also place strong emphasis on supporting parents and guardians, providing financial planning tools, access to student loans, merit-based scholarships, and child progress monitoring systems. These innovations are designed to ease financial burdens and deepen parental involvement in their children’s academic journeys,” she said.
Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year, in the 2025 Top 1000 World Banks’ Rankings, published by The Banker, Financial Times Group, United Kingdom.
This ranking places Zenith Bank Plc as the 581st Bank globally, with a Tier-1 Capital of $2 billion.
The global rankings, published in the July 2025 edition of The Banker, was based on the 2024 year-end Tier-1 capital of banks. This is the primary basis for most international organizations’ assessments of banks.
Commenting on this achievement, the Group Managing Director/CEO of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, said, “We are thrilled to have retained our position yet again as the Number One Bank in Nigeria by Tier-1 capital for the 16th consecutive year. This achievement is a reflection of the bank’s robust financial performance, prudent risk management and steadfast dedication to delivering exceptional value to our customers and stakeholders”.
She thanked the Founder and Chairman, Jim Ovia, CFR, for his visionary and transformative leadership which has played a pivotal role in cultivating a resilient and thriving institution. She also expressed her deepest appreciation to the bank’s esteemed customers for their continued loyalty to the Zenith brand, the Board for the sound corporate governance, and the staff for their relentless & tireless efforts in ensuring the bank’s success.
Tier-1 Capital describes capital adequacy, the core measure of a bank’s financial strength from a regulator’s perspective. According to the ranking, Tier-1 Capital, as defined by the Bank for International Settlements (BIS) guidelines, includes loss-absorbing capital, i.e., common stock, disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are less than wholly owned. A strong Tier-1 capital ratio boosts investor and depositor confidence, indicating the Bank is well-capitalised and financially stable.
According to the audited financial results for the 2024 financial year presented to the Nigerian Exchange (NGX), the Bank recorded a double-digit growth of 86% in gross earnings, increasing from N2.13 trillion in 2023 to N3.97 trillion in 2024. This growth was driven by a 138% increase in interest income, supported by investment in high-yield government securities, and growth in the Bank’s loan book.
Zenith Bank’s profit before tax (PBT) rose by 67%, reaching N1.3 trillion in 2024 from N796 billion in 2023. This performance saw the bank record an unprecedented total dividend payout of N195.67 billion at N5.00 per ordinary share in the 2024 financial year.
