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FirstBank Partners CFA to Host Universities’ Ethics Challenge

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First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced its partnership with CFA Society Nigeria to host its annual flagship event, the Universities Ethics Challenge final, scheduled to hold at Radisson Blu Hotel, Victoria Island Lagos on Saturday, 29 October 2022.

The Universities Ethics Challenge is designed to increase students’ awareness of the ethical dilemmas and issues they may face when they become finance and investment management professionals.  During the Ethics Challenge, students are given adapted real life ethics case studies to analyze and evaluate ethical issues raised, then make recommendations and present same to a panel of judges from whom they field questions relating to the case presented.

The judges for the 2022 edition of the annual challenge include Oluropo Okunmuyide, Head, Litigation & Dispute Resolution, First Bank of Nigeria Ltd; Taiwo Olatunji, CFA, Head, Investment Banking, Coronation Merchant Bank; Tomilola Olakiigbe, CFA, Head Finance, All-On Energy; Eno Atoyebi, CFA, Managing Director, Valualliance Asset Management and Kazeem Alimi, CFA, Head Secondary Markets, NGX Limited.

22 Universities registered and onboarded for the Challenge which kicked off in May, 2022. Subsequently, 13 Universities, comprising 3 from the North and 10 from the South participated in the regional rounds. The schools included Abia State University, Ahmadu Below University, Zaria, Clifford University, Coal City University, Covenant University, Madonna University, Obafemi Awolowo University and the University of Abuja.   Others were the University of Benin, the University of Ilorin, the University of Lagos, the University of Nigeria, Nsukka and the University of Port Harcourt.

Following a stiffly contested and rigorous semi-finals, 4 of these schools namely: Obafemi Awolowo University, University of Lagos, University of Nigeria, Nsukka and University of Port Harcourt advanced to the grand finale.

According to Ibukun Oyedeji, CFA, the President of CFA Society Nigeria, “strong ethics and high standards of professional conduct play a vital role in the integrity and ongoing success of the investment industry. As new talent joins the professional ranks, it is important that they do so with a commitment to operate according to these principles. Therefore, CFA Society Nigeria whose mission is to promote the highest standards of investment practice in Nigeria hosts this annual Ethics Challenge with the support of First Bank Nigeria Ltd to give university students a unique opportunity to learn about and apply the principles of the CFA Institute Code of Ethics and Standards of Professional Conduct. A more ethical investment profession starts here!”

Expressing her delight at the forthcoming event, Folake Ani-Mumuney, Group Head, Marketing & Corporate Communications, FirstBank said: “Our sponsorship of the annual CFA Society Nigeria Ethics Challenge competition is one of the ways we contribute to youth empowerment. We commend the CFA Society for its continued commitment to this initiative.

As a financial institution that focuses on nation building, the relevance of ethical practices is demonstrated in our embedded policies and processes, in the initiatives we support such as Samuel Asabia Chair in Business Ethics in University of Lagos. This is because we know that ethical practices are beneficial to finance and investment professionals including all market participants and stakeholders which leads to increased investor confidence in global financial markets,” she concluded.

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MoneyMaster PSB Promotes Mobile Wallet at Ojude Oba Festival

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MoneyMaster Payment Service Bank Limited (MMPSB), a leading payment service bank, is attending the 2024 Ojude Oba Festival to promote its mobile wallet, which simplifies banking transactions in the country.

The Payment Service bank is licensed by the Central Bank of Nigeria and insured by NDIC to promote financial inclusion in furtherance of the Nigerian financial literacy initiative driven by the Central Bank of Nigeria. With Moneymaster, Nigerians can open mobile wallets, savings account, individual and business accounts to make payments, buy airtime, pay utility bills to over 4,000 companies.

It was recently appointed a payment partner to the Ounje Eko initiative by the Lagos State government in its bid to provide discounted food items to residents of the state amidst rising cost of food items. Moneymaster is positioned to support individuals and businesses in their journeys towards financial prosperity by offering bespoke financial services that meet their aspirations.

In a press release issued at the weekend, Moneymaster said it is rounding off a month-long market activation, engaging indigenes and residents of Ijebuland to come onboard its digital banking platform – mobile wallet. Moneymaster mobile wallet avails customers the opportunity to transfer or withdraw cash from an agent, buy airtime and pay utility bills.

It added that during this month-long activation, customers in Ijebuland who open an account stand a chance of winning free airtime amongst other gift items.

The PSB further said that the drive towards a cashless economy can become a reality when more and more Nigerians embrace mobile wallet so as to help them cultivate a more convenient savings habit and also enable them engage in banking transactions with ease.

“While we rejoice with the people of Ijebuland at this time, we also want to showcase what we have in Moneymaster’s mobile wallet that can help various people to enjoy seamless banking from their phones”, the statement said.

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MultiChoice Obeys Court Order, Makes Downward Review of Subscription Cost

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Following a court order mandating it to halt the move to hike prices, MultiChoice has readjusted its subscription rates for DStv and GOtv users in Nigeria.

The company had vowed to challenge the order of the Competition and Consumer Protection Tribunal’s ruling in Abuja after reporting a decline in its subscriber base in Nigeria, leading to the loss of over a million subscribers.

MultiChoice has reflected the readjustment on its company’s apps as at Sunday, June 16, 2024.

Due to the adjustments, DStv subscribers will now pay N29,500 instead of N37,000 for the Premium package, while Compact+ package subscribers can now pay N19,800 instead of the new price of N25,000.

The readjustment now have Compact Bouquet subscribers paying N12,500 previously being charged instead of N15,700, while Confam package subscribers will pay the old price of N7,400 instead of N9,300 per month.

For the Yanga package subscribers, old rate of N4,200 will be paid against N5,100 placed as new rate; while Padi subscribers will pay the former price of N2,950 instead of the N3,600.

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Record Financial Performance: Fidelity Bank Plc Promotes 11% of Workforce

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Leading financial institution, Fidelity Bank Plc has announced the promotion of 11% of its workforce, a testament to the exceptional performance and dedication of its employees.
This significant move follows the release of the bank’s 2023 full year Audited Financial Statements, which reported an impressive 131.5 percent growth in Profit Before Tax (PBT) to N124.26 billion.
The recent promotions span every level within the bank, reflecting Fidelity Bank Plc’s commitment to recognizing and rewarding excellence across its entire organization. This strategic initiative has garnered positive reactions from staff members, who see it as a validation of their hard work and contribution to the bank’s remarkable financial achievements.
In addition to the promotions, Fidelity Bank Plc has also concluded arrangements to raise a total of N127.1 billion through a Rights Issue to existing shareholders and a Public Offer. This move is part of the bank’s broader strategy to strengthen its capital base, support future growth, and enhance shareholder value.
Fidelity Bank Plc’s impressive financial performance and the subsequent employee promotions highlight the bank’s robust operational strategy and its commitment to fostering a rewarding work environment. By investing in its people and ensuring their career growth, the bank continues to build a motivated and high-performing workforce.
Ranked as one of the best banks in Nigeria, Fidelity Bank Plc is a full-fledged customer commercial bank with over 8.5 million customers serviced across its 251 business offices in Nigeria and the United  Kingdom as well as on digital banking channels.
The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.
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