Stanbic IBTC Holdings PLC, member of the Standard Bank Group, has won five awards at the 2019 edition of the FMDQ Gold Awards which held on Friday, November 8 at the Oriental Hotel, Lagos.
Stanbic IBTC Bank PLC, a subsidiary of Stanbic IBTC Holdings PLC, emerged the overall winner in the Secondary Market category, winning the ‘FMDQ Dealing Member of the Year’ award, for the second year running. The company also won the award for ‘FMDQ FX Market Liquidity Provider’ of the year.
Stanbic IBTC Capital Limited, another subsidiary of Stanbic IBTC Holdings, won the ‘FMDQ Capital Markets Securities Origination’ award, thereby emerging the overall winner of the Primary Market category. The company also won the ‘FMDQ Registration Member (Quotations) Award’.
Stanbic IBTC Pension Managers Limited won the ‘Most Active Buy-side Participant in the Fixed Income Market” award.
Dignitaries that attended the event included Babajide Sanwo-Olu, the governor of Lagos State and Mary Uduk, the Acting Director-General of the Securities and Exchange Commission. Both dignitaries presented awards to Stanbic IBTC.
Funso Akere, Chief Executive, Stanbic IBTC Capital, said the awards would further spur the company to continue providing excellent services across the financial services spectrum. He said: “The five awards we have won will have a positive impact on our operations. This means raising the bar in terms of service delivery. It is a challenge to continually create innovative solutions for our clients. As long as we keep delivering innovative solutions to our clients, they will continue to engage us and we will continue to do transactions.”
He further expressed his appreciation to the clients of Stanbic IBTC, stressing that it was because of them that the company was winning awards. Akere also commended the effort of employees of Stanbic IBTC for putting their heart and soul in service delivery to the company’s clients.
Samuel Ocheho, Head, Global Markets, Nigeria at Stanbic IBTC Bank PLC described the awards as a testament to the culture of hard work at Stanbic IBTC.
He said: “This signifies that we are a top player in the foreign exchange market and in the secondary market for all money market products. It is a testimony to the hard work that we have been engaged in as an institution.”
The FMDQ Gold Awards, held annually, recognizes stakeholders whose participation in the fixed income, foreign exchange and derivatives markets, have supported and fostered growth and development of these markets as well as the Nigerian economy. The inaugural edition was held in 2018.
Worried by the environmental impact of Techno Oil and Gas cylinder factory in Kajola town of Ibeju Lekki, Lagos, residents of the town have threatened to begin a legal action against the company led by Nkechi Obi.
As the story was narrated, no sooner the company began operation in the new factory than its neighbour started to have sleepless nights as a result of its operational nuisance of noise pollution.
A letter from a resident’s lawyer Yinka Muyiwa & Co and made available to journalists explained how the company has constituted a nuisance to its client who is closely behind the factory adding that since all dialogue with company seems not to have yielded positive result, there would be no option than to seek redress at the court of law.
The letter addressed to the company explained how their operations have continued to give discomfort to the resident.
When the Bale of the town Chief Fatai Adams was contacted, he confirmed that there are issues between the company and the resident, assuring that every issues have been resolved amicably.
Sources, however, said Techno factory may not shift their position as they have influence at top level which was displayed at the opening ceremony of the factory performed by Vice President Yemi Osinbajo.
All attempts to speak with the Techno representative proved abortive as the factory manager was said to have proceeded on leave.
Meanwhile, a letter said to have been written by the company and signed by one Ken Abazie vaguely promised to look into the matter and find a lasting solution.
It would be recalled that Techno oil is equally enmeshed in a controversial environmental invasion in Kirikiri area of Lagos where he was alleged to have clandestinely located a tank farm without recourse to the environmental impact to the resident.
Gov Obaseki should start packing from Government House -Idahagbon
A former governorship aspirant of the Peoples Democratic Party(PDP) for the 2016 governorship election, Pastor Osagie Ize-Iyamu, may have concluded plans to dump the party for the All Progressives Congress(APC).
It was gathered that Pastor Ize-Iyamu may have finalised all arrangement with the National Chairman of the APC, Comrade Adams Oshiomhole, to formally announce his defection any moment from now.
Pastor Ize-Iyamu was Secretary to the Edo State Government during the administration of former Governor Lucky Igbinedion.
He joined others to form the Grace Group, which metamorphosed into the defunct Action Congress.
Ize-Iyamu left the ACN in 2015 after it dawned on him that Oshiomhole was not ready to support his governorship ambition.
Already, supporters of Pastor Ize-Iyamu have taken to the social media to celebrate his planned exit from the PDP and entrance into the APC with the hashtag #POIiscoming.
Sources close to Pastor Ize-Iyamu said he could join the APC to secure the party’s governorship ticket with the support of the Edo Peoples Movement, a pressure group whose aim is to unseat Governor Godwin Obaseki.
Other persons seeking EPM support for APC ticket are General Charles Airhiavbere, Engr. Chris Ogiemwonyi and Solomon Edebiri.
Some Edo PDP members, who celebrated planned move of Pastor Ize-Iyamu to the APC, said the party’s plan for next year’s governorship poll does not favour him.
They said the failed plot to remove Chief Dan Orbih as the party state chairman before the primaries may have been part of the reason Ize-Iyamu opted to pitch tent with the APC.
In an earlier interview, Pastor Ize-Iyamu said: “If you ask me my political direction I leave it in the hands of God because I’m not in any way desperate for power.
“Everything I do I try to let God direct me. In my political life also I have made it a point of duty to put the people first.”
When contacted on Monday, Ize-Iyamu said he would keep our reporter informed if he makes the decision to defect.
Meanwhile, it was gathered that some EPM members are not happy with the plan to support Ize-Iyamu for the APC ticket.
But the conveners of EPM, Barr. Henry Idahagbon, dismissed talks that Pastor Ize-Iyamu has caused a crack within the ranks of the group.
Idahagbon said they would welcome the Ize-Iyamu with fanfare because he is an encyclopedia of Edo politics.
Idahagbon urged Governor Obaseki to start packing out of the Edo Government House.
He said: “We are celebrating his coming. He is a founding father of the defunct Action Congress. All the other aspirants are happy with his coming.”
A former Speaker of Edo Assembly, Thomas Okosun, said the EPM are members of the APC and the coming of Ize-Iyamu would not divide them.
Hon Ojo Asein said Governor Obaseki defeated Ize-Iyamu in previous elections and would defeat him again.
He said Obaseki has achieved a lot to earn him a second term ticket.
Top global designers and brands will storm Lagos for the “Style by Zenith 2.0” Fair, the second edition of Zenith Bank’s highly anticipated Lifestyle Fair, which holds from Friday, November 29 to Sunday, December 1, 2019 at the Eko Energy City, Eko Atlantic, Victoria Island, Lagos.
Some of the top designers billed to feature at the fair include Tom Ford, Dolce and Gabbana, Tokyo James, Eyola, Mai Atafo, Okunnoren Twins, Ejiro Amos-Tafiri, Telvin Nwafor, Fikirte Addis, House of Kaya, Gozen Green, Trish O, Chulaap, Agatha Moreno, Sunny Rose, Nonnistics, Caesar Couture, Yartel, Orapeleng Mdutle, Mustapha Hassanali and the Fabric Hub, amongst others.
Aside showcasing their designs during the runway modelling sessions at the fair, they will also be participating in the various Lifestyle masterclasses, offering expert opinions on recent trends and designs in the global fashion industry.
Launched in 2018, the “Style by Zenith” initiative was created with the objective of supporting and creating value for customers by focusing on various aspects of their lifestyle.
“Style by Zenith 2.0” caps a year of all-encompassing customer lifestyle engagements by Zenith Bank through events such as the Aspire Music Festival, a musical concert for millennials held in Lagos in September and the Aba SME Fair organised for SMEs in the Aba Fashion Market, Abia State last month. This is in addition to the Light-Up Ceremony of the yuletide decorations on Ajose Adeogun Street, Victoria Island coming up by the second week of this month.
The three-day fair has an interesting line up of activities including runway modelling by leading Nigerian and international models accessorized by top global and Nigerian designers, modelling masterclasses, exhibition of lifestyle, beauty, health & fitness products, food and drinks, games arcade for both children and adults as well as musical concert featuring Nigeria’s biggest artistes.
Fashion One, the leading global fashion and lifestyle channel will once again be working with Zenith Bank on the “Style by Zenith 2.0” initiative.
Registration for the event, which is free for everyone, can be done by visiting www.zenithbank.com/style.
Zenith Bank Plc is recognized as one of the most innovative financial institutions in Nigeria and was voted the most customer-focused bank in Nigeria for the Retail and SME segments in the 2018 KPMG Annual Banking Industry Customer Satisfaction Survey (BICSS). Most recently, the bank won the Best Bank in Retail Banking and the Bank of the Year at the 2019 BusinessDay Banks and Other Financial Institutions (BOFI) Awards, and was ranked as the Best Digital Bank in Nigeria 2019 by Agusto & Co.
Zenith Bank Plc has been ranked top in digital banking for year 2018.
A research and credit rating agency, Agusto and Co Limited, said this when it released its 2019 Consumer Digital Banking Satisfaction Index report.
The Agency said the objective of the Index is to create an independent appraisal of the ease of using digital banking platforms by the Nigerian populace following increased competition by banks on digital platforms as well as the growing quest for financial inclusion using digital means.
“The report highlights customer’s preferences and attitude towards digital banking platforms provided by banks in Nigeria. It was carried out on an extensive online and offline consumer survey across various geopolitical zones in Nigeria.
“The survey was designed to gain an insight into the behavioural patterns of the respondents selected from both the formal and the informal sector. The output of the Index is based on information provided by respondents on the top eight banks in Nigeria by total assets as at 31 December 2018.
“Two banks were assigned a ‘4 Star’ rating for Consumer Digital Banking Satisfaction of which Zenith Bank Plc scored the highest, emerging the ‘Best Digital Bank in Nigeria’. The ‘4 Star’ rating assigned to Zenith Bank Plc reflects transaction success rates, ease of use, perceived security, good troubleshooting and IT resolution on its different digital platforms.
“The Index revealed that Zenith Bank Plc has the highest transaction success rates on the bank’s digital banking platforms including mobile app, Unstructured Supplementary Service Data (USSD) and web. The bank’s respondents experienced the most ease in navigating through the digital platforms and the bank has one of the highest number of customers who felt it has excellent rating on IT issue resolution.
The Agency noted that the Index indicated areas where the respondents requires an improvement on the services enjoyed on the various banks’ digital platforms, including improvement on the interface of the various platforms, improvement on the success rate of transactions, enhanced security measures on the digital platforms and reduction in charges for frequently used services including airtime and data top-up.
The total assets and liabilities of commercial banks in Nigeria rose from N37.14tn at the end of November 2018 to N39.58tn as of the end of August 2019.
The Central Bank of Nigeria disclosed this in its economic report for the third quarter of 2019.
It stated that the total assets and liabilities of commercial banks at the end of August 2019 fell by 0.1 per cent compared to what was recorded at the end of June 2019.
According to the report, funds were sourced largely from increased foreign liabilities, realisation of foreign assets and reduction of claims on the CBN.
It said the funds were used mainly to reduce unclassified liabilities, settlement of time savings and foreign currency deposits and increased claims on the private sector.
At N21.81tn, banks’ credit to the domestic economy at the end of August 2019 showed an increase of 3.5 per cent, compared with what it was at the end of June 2019.
It said the total specified liquid assets of commercial banks amounted to N13.77tn at the end of August 2019, representing 59.4 per cent of the total current liabilities.
At that level, the liquidity ratio was 5.5 percentage points and 29.4 percentage points above the level at the end of June 2019 and the stipulated minimum ratio of 30.0 per cent, respectively.
The loans-to-deposit ratio, at 61.1 per cent, was 3.5 percentage points higher than the level at the end of June 2019, but 18.9 percentage points lower than the prescribed maximum of 80.0 per cent.
According to the CBN’s report, liquidity ratio was above the prescribed minimum, while the loan to deposit ratio was below the prescribed maximum in August 2019.
Mathematics education is the very foundation of society and the pillar of science and technology without which a nation can never become prosperous and economically independent.
This was the submission of Managing Director of Promasidor Nigeria Limited, Mr. Anders Einarsson while speaking last weekend in Lagos, at the finals of season 5 of the Cowbellpedia Secondary Schools Mathematics Television Quiz Show sponsored by Cowbell Milk, the flagship brand of his company.
Einarsson further explained in a chat with newsmen that the importance of Mathematics in the life of individuals and nations cannot be over emphasised, adding that he was very impressed that the Cowbellpedia initiative has achieved its objective going by the record number of 56,073 participants that took the qualifying examination this year.
This according to him, is a huge testament to the Cowbellpedia initiative and the interest that Nigerians have in Mathematics. “I am convinced that with the arrays of talents displayed by these young Nigerians here today, Nigeria can rule the world. I advise the youth to continue to sustain their interest in Mathematics because the future is theirs,” he said.
He maintained that Promasidor has found a correlation between the development of cognitive ability that Cowbell Our Milk, gives, and its passion for Nigeria.
Also speaking at the event, Mr. Stephen Adebunmi, who represented the Acting Registrar of the NECO, Mr Abubakar Gana, explained that since Mathematics is very central to human and nation’s capacity, the subject deserves all the support from public and private organisations.
The NECO boss commended Promasidor for providing “an excellent platform” to showcase these young Nigerian Mathematicians and future inventors.
Meanwhile, in a thrilling Cowellpedia Mathematics competition final encounter last weekend, Michael Enehizena of The Scholars Universal Secondary School, Ota, Ogun State and Oghenero Ologe of Zionfield Pinnacle School, Ikorodu, Lagos State won the crown in the Junior and Senior category respectively.
Also in the Junior category, Abdul-Quayum Alli, of Ota Total Academy, Ota, Ogun State, and David Charles of Graceland International Secondary, School, Port Harcourt, Rivers State, came second and third respectively.
Akinyemi Dabira of The Ambassadors College, Ota, Ogun State and Hezekiah Olabisi of Bibo Oluwa Academy, Ilesha, Osun emerged as first and second runner-up respectively in the Senior category.
The two champions got N2 million each and an all-expense paid education excursion outside the country.
The first and second runners-up in each category received N1.5 million and N1 million respectively, while the teachers of the top prize winners were awarded N500, 000. Those of the first and second runners-up received N400, 000 and N300, 000 respectively.
Halima Aliko Dangote has been appointed as the group executive director, commercial operations of Dangote Industries Limited.
According to a release by the company, Halima Aliko Dangote is returning to the company after serving on secondment in several capacities across two of its business units over the last five years.
She is also a trustee of the Aliko Dangote Foundation, the philanthropic arm of the conglomerate.
Her most recent role in the group was as the executive director of Dangote Flour Mills.
She previously served as the executive director of NASCON, a manufacturer of salt, seasonings and still serves as a non-executive director.
She has over 12 years of professional experience and has held several executive management roles. In her new role, Dangote will be responsible for leading the development and implementation of the Dangote Group’s customer strategy to drive customer growth, improve customer relationship management, enhance customer experience and increase long term customer value.
She will also be responsible for the implementation of the group’s shared services strategy with specific oversight for the following functions; commercial, strategic procurement, administration and branding & communications.
Halima, who is the second daughter of Aliko Dangote, holds a bachelors degree in marketing from the American Intercontinental University, London and a master’s degree in business administration from Webster Business School, United Kingdom.
Halima is the president of the board of The Africa Center in New York, a uniquely focused centre providing a forward-looking gateway for engagement with Africa while encompassing policy, business and culture. She is a board member of Endeavour Nigeria and is also a member of the Women Corporate Directors (WCD).