At present, there are over 86,000 banking agents across 772 out of the 774 local government areas in Nigeria, a demonstration of FirstBank’s commitment to deepening financial inclusion and ensuring the unbanked are adequately catered for. In an interview with BusinessDay, Adesola Adeduntan, FirstBank’s CEO, noted that over N9.6 trillion had been processed through the bank’s agent network.
As he explained, FirstMonie agents have supported several government and NGOs’ cash transfers to the poorest of the poor in the rural areas. Additionally, selected FirstMonie agents in the rural communities are equipped with BVN enrolment devices; as such they are able to enrol and open accounts for rural dwellers that hitherto may not have had the opportunity to be included in the formal financial services system.
The bank’s commitment to providing access to finance for Small and Medium Enterprises (SMEs) was also highlighted by the CEO, who hinged this on “their potential to impact the economy”.
He discussed the bank’s value adding solutions that have created a functional ecosystem for SMEs to thrive. The ecosystem includes propositions such as connection of the SMEs to talents and resources/cutting edge tools, access to business finance and market, capacity building opportunities and policy advocacy.
These are all aggregated on its SMEConnect platform as value adding products and services for easy access and at rates (prices) that are competitive and mostly discounted. The SMEConnect is a digital platform that allows the SMEs connect to FirstBank’s offerings from the comfort of their locations anywhere in the world.
This, according to Adeduntan, has been well received by the SME community as we engage across the country.
Culled from BusinessDay
Fidelity Bank Set To Organise Diaspora Webinar Banking
- Deepens Engagement On New Remittances Policy
…. Osinbajo, Emefiele, Prof Benedict Oramah,Dabiri-Erewa To Attend
Fidelity Bank Plc, top Nigerian bank has concluded plans to host its Diaspora Webinar Series with the inaugural edition slated for Saturday, March 06, 2021 by 2pm. This virtual session seeks to enlighten Nigerian citizens’ resident abroad on recent policy measures by the Central Bank of Nigeria (CBN) and its attendant implications for Diaspora investments.
Rightly themed, “The New CBN FX Policy and Positive Impact To Diaspora Investments in Nigeria”, the session will also aim specifically at providing them with valuable insights, intelligence, and expertise on how to stay on top of their investments back home.
The event will have in attendance special guests and notable personalities including the Vice President of the Federal Republic of Nigeria, Professor Yemi Osinbajo who is the Special Guest of Honour and the Chief Host, Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele who will deliver a keynote address at the event.
Other speakers and panelists at the session include Professor, Benedict Okey Oramah, Chairman/President of African Export-Import Bank, Honorable Abike Dabiri-Erewa, Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM), Professor Ndubuisi Ekekwe, Lead Faculty, Tekedia Institute and Professor Olawale Sulaiman, renowned Neurosurgeon and Chairman of RNZ Global among others.
Streamed live on YouTube and ZOOM, the Series was borne out of the need to deepen engagement with Nigerian Diaspora Community particularly as developmental partners considering the critical role remittances play in driving sustainable economic growth.
Speaking on the webinar, Fidelity CEO, Mrs. Nneka Onyeali-Ikpe stated that the session was most appropriate and timely, adding that “the session will offer the Nigerian Diaspora greater clarity on all of the recent policies enacted by government with a view to enabling them make sound investment decisions”.
According to Mrs. Onyeali-Ikpe, the bank, in the last twelve (12) years, has become a dependable partner for diaspora remittances and investment. Armed with a deep understanding of these customers needs, she went on to explain that the bank has continued to offer bespoke products and services that are unrivaled in the financial services industry.
Worthy of mention is the Diaspora Mortgage and Dollar Denominated Fixed Deposit Investment Account that attracts up to 5 percent annual interest depending on the amount and tenure.
The CBN, as part of efforts to liberalise, simplify and improve the receipt and administration of Diaspora remittances into the country had issued guidelines to ensure that beneficiaries of Diaspora remittances through International Money Transfer Operators (IMTOs) receive such inflows in foreign currency (US dollars) through the designated bank of their choice.
The policy became necessary in view of the urgent need to deepen the Foreign Exchange (FX) market, provide more liquidity and create transparency in the administration of Diaspora remittances into Nigeria.
To register for the webinar, click on the link – https://www.fidelitybank.ng/diaspora-webinar/
The programme will be streamed LIVE on YouTube and ZOOM. For more information, send emails to DiasporaGroup@fidelitybank.ng
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