First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced that its mobile banking application, FirstMobile, has been awarded the 2020 Best Mobile Banking App award 2020 in the Global Finance Best Digital Bank Awards 2020. The achievement of this feat is largely attributable to the Bank’s relative strength and success of its web products and services, notably FirstMobile.
Speaking on the 2020 Global Finance awards Joseph D. Giarraputo, publisher and editorial director of Global Finance said; “This year, a global pandemic accelerated the transition to digital banking, but forward-thinking banks were already on that road. The Digital Bank Awards hone in on the institutions that are leading the shift toward a new world of banking.”
According to Global Finance, winning banks were selected based on various criteria, including strength of strategy for attracting and servicing digital customers, success in getting clients to use digital offerings, growth of digital customers, breadth of product offerings, evidence of tangible benefits gained from digital initiatives, and web/mobile site design and functionality. winners chosen from entries evaluated by a world-class panel of judges at Infosys, a global leader in consulting, technology and outsourcing. The editors of Global Finance were responsible for the final selection of all winners.
Appreciating the award on behalf of the Bank, Gbenga Shobo, Deputy Managing Director, FirstBank said “the Global Finance 2020 Best Mobile Banking App award is testament to our continuous commitment to putting our customers first which was demonstrated in our recent upgrade of the leading mobile banking application, FirstMobile. The upgrade on FirstMobile is designed to suit the social pattern and lifestyle of all our customers.
“We dedicate this award to all customers and appreciate Global Finance for the recognition.”
Only recently, Global Business Outlook awarded FirstMobile with the 2019 Best Mobile Banking App.
Union Bank Renews Commitment to CSR
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
Dangote Loses $900m in 24 Hours, Drops in Billionaires’ Ranking
The President/Chief Executive, Dangote Industries Limited, Aliko Dangote, saw his total net worth drop by $900m on Friday as his flagship company emerged the biggest loser at the end of trading on the Nigerian Stock Exchange.
Bloomberg Billionaires Index, which is a ranking of the world’s 500 richest people, showed that his wealth fell from $18.4bn on Thursday to $17.5bn on Friday, making him the 114th wealthiest man in the world, down from 106th the previous day.
Dangote’s net worth had risen from $15.5bn on December 13 to close the year 2020 at $17.8bn. It further gained $600m in the first seven days of 2021, but lost all of it and more last Friday.
The share price of Dangote Cement Plc, the country’s biggest listed company and Africa’s largest cement producer, tumbled by 8.13 per cent to close at N225 on Friday from N244.90 on Thursday.
Dangote was the only Nigerian on the list of 500 billionaires and retained his position as Africa’s richest person as of Friday.
“The majority of Dangote’s fortune is derived from his 86 per cent stake in publicly traded Dangote Cement. He holds the shares in the company directly and through his conglomerate, Dangote Industries,” Bloomberg said.
His most valuable closely held asset is a fertiliser plant with capacity to produce up to 2.8 million tonnes of urea annually, according to the international news agency.
“A $12bn oil refinery that is currently being developed in Nigeria isn’t included in the valuation because it’s not yet operational and construction costs are calculated to outweigh its current value,” it said.
Ajayi Wins 59th FirstBank Lagos Open Golf Championship
Ikoyi Club based category-1 amateur golfer, Ajayi Tajudeen has emerge winner of the 59th edition of the FirstBank sponsored Lagos Open Golf Championship. Ajayi closed with 1-under par 70 for a total of 7-over the course par to win the Championship by two-shots after 56-holes.
Happy at the recently held golf tourney, Ajayi adduced his success to hard work, saying “I practiced a lot”.
“There is no short cut to success which is why I take the sport very seriously. I was well prepared for this tournament because I practiced a lot”, he said in a chat with newsmen shortly after being declared the Champion.
With his victory, Ajayi replaces Peter Eben-Spiff on the FirstBank Open winners list.
Playing 4-shots adrift going to the final round, Ajayi recorded bogey free 18-holes to steal the show ahead of overnight leader, Gabriel Ejembi who carded a closing 76 for 9-over the course par, over 56-holes to beat clubmate Ejembi to the second position.
Coming in the third position was Tochukwu Emuwa at 14-over. Emuwa opened his game with 76, a second-round score of 75 and a closing 74 to duck in the third position.
Olusegun Emmanuel came fourth while Junior Champion; Osiregbeme Egbakhumeh completed the top five in the R&A and USGA sanctioned championship.
Satisfied with the outcome of the competition, Olusegun Alebiosu, the Chief Risk Officer of FirstBank, who represented the Bank’s Chief Executive Officer, reiterated the banks continuous support for the championship.
The competition was organised in full compliance with the Federal Government Covid-19 protocols.