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Get Ready for Total Blackout, Labour Tells Nigerians

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6 years ago

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The Trade Union Congress has asked Nigerians to look for alternative power source beginning from Monday (today), as it declared that it would shut down the nationwide operations of the Transmission Company of Nigeria today.

But the TCN described the move by TUC as ill-motivated, stressing that it was wrong for the labour union to claim that there was industrial disharmony in the transmission company.

It was also learnt that the plan by the TUC to ground operations at the transmission firm had caused disagreement between the two major unions in the power sector.

In a message to workers at the Abuja headquarters of TCN, which was sighted by our correspondent on Sunday, the trade union claimed that for some time now, workers of the transmission company had been subjected to inhuman treatment by the management of the firm.

The TUC stated that despite the interventions of labour, the TCN management had continued to disregard the Nigerian workers at the firm.

The union said it was on this note that the TUC directed its members to solidarise with the workers and ensure a total shutdown of electricity transmission facilities across the federation through the picketing of TCN offices nationwide on Monday, May 13, 2019.

The union urged Nigerians to bear with it and look for an alternative source of power pending when the issues are resolved.

But the transmission company said the plan by TUC to picket the transmission company was ill-motivated.

The General Manager, Public Affairs, TCN, Ndidi Mbah, told our correspondent on Sunday that there was no iota of truth in the statement credited to the labour union that there was industrial disharmony in the company.

The transmission company stated that “TUC was ill-informed by Chris Okonkwo, current President of the Senior Staff Association of Electricity and Allied Companies, having lost the support of TCN staff members in his bid to use the association to advance his selfish interest.”

It added, “TCN management believes that TUC, unknown to the union, is being used by unpatriotic elements. TUC, as a law-abiding organisation, is expected to find out why Okonkwo could not secure the support of TCN staff members, NUEE (National Union of Electricity Employees) or SSAEAC, TCN Branch before accepting to lead the picketing of TCN.”

Mbah stated that the union should know that TCN had successfully expanded the capacity of the grid from 5,000MW in February 2017 to 8,100MW in December 2018.

“It is on record that TCN receives less than 30 per cent of its revenue from the power distributors and yet it has been able to attain this unprecedented stride in grid expansion largely due to the support of the members of staff,” she stated.

The Punch

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Business

Ecobank Nigeria Unveils New Premier Branch in Victoria Island

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18 hours ago

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June 30, 2025

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Ecobank Nigeria has announced the opening of a new branch dedicated solely to Premier Banking clients. This branch located No 25. Akin Adesola Street in Victoria Island is dedicated to serving high-net-worth individuals, providing personalized world-class banking services and amenities.

This location offers a bouquet of carefully curated premium banking services enjoyed in the comfort of an exclusive VIP Lounge staffed with dedicated team of relationship managers and supported by a 24X7 contact centre.

Announcing this in Lagos, Adeola Ogunyemi, Head, Distribution Channels/Sales, Consumer & Commercial Banking at Ecobank said “in Nigeria, Ecobank’s mission is to deliver on its promise as the preferred platform for accessible, affordable, and instant banking services to customers. Ecobank remains the go-to bank for pan-African trade and payments.

“Our medium-term goal is to establish ourselves as the leading gateway for facilitating pan-African banking services to our customers in Nigeria. This new premier branch is designed to provide our high-net-worth customers with a suit of exclusive benefits and privileges. This is part of Ecobank’s strategy to cater to the evolving needs of its affluent clientele, offering them a tailored banking solution with enhanced features and privileges.

Ecobank Nigeria Ltd. is a subsidiary of the Ecobank Group, the leading pan-African banking group with operations in 35 African countries and an international presence in four locations (London, Paris, Beijing, and Dubai). Ecobank’s unique pan-African platform is designed to help unlock the opportunities of the continent, for the continent, facilitating regional integration, trade, and investment across borders.

Ecobank utilizes a broad range of digital platforms such as the Ecobank Mobile App, USSD *326#, Ecobank Online, Ecobank OmniPlus, Ecobank Omnilite, EcobankPay, Ecobank RapidTransfer, ATMs, POS terminals, and a vast distribution network with over 250 branches and approximately 50,000 agency banking locations.

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FirstBank Wins Gold for Best Corporate University in Social, Climate Change Impact

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4 days ago

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June 26, 2025

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FirstBank, the West Africa premier bank and financial inclusion services provider, has announced that its Corporate University, FirstAcademy, has bagged the Gold Award for Best Corporate University in Social & Climate Change at the Global Council of Corporate Universities (GlobalCCU) Awards 2025.

This highly acclaimed award recognises FirstAcademy’s outstanding commitment to driving social and climate change learning initiatives, aligning its learning and development programs with internal stakeholder needs, and promoting Corporate Social Responsibility (CSR).

The GlobalCCU Awards is a prestigious, biannual recognition of excellence in corporate universities, setting the highest standard for the industry. With a rich 12-year history dating back to its inaugural ceremony in Paris in 2013, the awards have consistently honoured outstanding Corporate Universities, learning and development structures worldwide. The GlobalCCU Awards celebrate institutions that create remarkable value for people, businesses, society and the planet.

FirstBank’s FirstAcademy exemplifies this mission by earning the Gold Award for Best Corporate University in Social & Climate Change at the 2025 ceremony in Paris, France. This distinction reflects FirstAcademy’s dedication to fostering sustainability and environmental responsibility; developing impactful learning initiatives that transcends traditional corporate training, with broader societal goals; integrating climate action into its portfolio and operations;  expanding climate finance offerings and developing a climate action capacity building training program.

FirstAcademy was inaugurated in 2012 as the Bank’s designated corporate academy designed to provide structured talent development, knowledge management and culture change initiatives. One major objective of the academy is to equip staff with the requisite knowledge and skills required to deliver on the Bank’s strategic aspirations and to thrive in an ever-evolving work environment while contributing to social and environmental responsibility.

According to the Founder and Chairman of the GlobalCCU Awards, Annick Renaud-Coulon, “FirstAcademy is an outstanding Corporate University that is clearly the Best Corporate University globally for driving social and climate change learning initiatives.”

Congratulating FirstAcademy, the Founder and Chairman of the GlobalCCU Awards, Annick Renaud-Coulon, said “FirstAcademy is a very mature Corporate University which demonstrates a strong alignment with FirstBank’s vision of responsible banking and sustainable development, with clear support from senior leadership and a governance model that strategically connects learning to business priorities. Congratulations to FirstAcademy for setting a visionary standard in advancing meaningful social and climate change impact through learning and inclusive capacity building!”

In the words of Olayinka Ijabiyi, the Acting Group Head, Marketing and Corporate Communications, FirstBank “We are delighted to receive this international recognition for our efforts in promoting social responsibility and climate action. This award serves as a testament to our belief that businesses can be a force for good, driving transformation that extends beyond profit to create sustainable and equitable futures for all.  FirstAcademy’s programs have not only enhanced employee skills but also contributed to the well-being of society and the environment.”

As FirstBank’s FirstAcademy continues to bridge the gap between corporate initiatives and community needs, it sets a leading example for corporate universities around the globe, inspiring others to follow suit in the quest for meaningful change.

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Fidelity Bank Hits N1trn Market Capitalisation after Share Price Increase

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4 days ago

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June 26, 2025

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The market capitalisation of Fidelity Bank has crossed the N1 trillion mark as the share value of the company appreciated by 1.27 percent at the close of trading.

According data from the Nigerian Exchange Group (NGX), the bank’s market capitalisation hit N1 trillion after its share price rose from N19.75 on Tuesday to N20 on Wednesday.

The increase moved the company’s valuation from N991.6 billion to N1 trillion.

With the development, Fidelity Bank joins the list of financial institutions with a market capitalisation of over N1 trillion.

The companies are Zenith Bank, Access Bank, United Bank of Africa (UBA), Guaranty Trust Bank (GTB), and First Bank.

On May 21, Nneka Onyeali-Ikpe, the managing director (MD) and chief executive officer (CEO) of Fidelity Bank, acquired an additional 18 million shares in the bank.

Two days later, Onyeali-Ikpe bought additional 2 million units of shares in the bank.

According to a regulatory filing on the NGX, the shares were acquired on May 22, at N18.6 each — amounting to a total value of N37.2 million.

The acquisitions increased her shareholding in the bank to 114.64 million shares — from 94.64 million held as at December 31, 2024.

In its latest financial performance report, Fidelity Bank said it reported a 167.8 percent year-on-year increase in profit before tax (PBT), which increased to N105.8 billion in the first quarter (Q1) of 2025

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