HAMILTON, N.J., Sept. 29, 2022 (GLOBE NEWSWIRE) -- First Bank (Nasdaq Global Market: FRBA) invites participation in a conference call to discuss the Company’s financial and operating performance during its third quarter ended September 30, 2022.
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Dangote Industries, MTN, Globacom and Access Bank have led the Top 5o Brands Nigeria list this year, according to the result of the evaluation by brand and marketing research firm, Top 50 Brands Nigeria. Dangote emerged the Most Valuable Brand for a record fifth year in a row at the outcome of the 2022 corporate brand evaluation. It topped with an aggregate score of 83.7 per cent Brand Strength Measurement (BSM) Index score. This was followed by MTN, Globacom and Access Bank in second, third and fourth place. Others among the top 10 are Airtel Nigeria, Coca-Cola, Zenith Bank, GTCO, First Bank and UBA at fifth to 10th positions respectively. Speaking, Top 50 Brands Nigeria, Chief Executive Officer, Taiwo Oluboyede said: “Brand has become a critical differentiator that helps consumer’s choice and also separates the top corporate organisations from the others and even much more. It is also consumers’ buying choice justification.” He added: “When you plant a flower, you keep watering and pruning it to grow and until it blossoms and this you do for its lifetime.
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First Bank of Nigeria has announced that its naira cards will no longer be used for international transactions starting September 30. The bank said the decision is due to current market realities on foreign exchange. Before now, customers could use their naira debit cards to pay for any transactions but not more than $20 or […]
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Commercial banks have joined the Central Bank of Nigeria (CBN) in the fight to save the naira by reducing dollar spendings abroad. Banks have announced temporary suspension of overseas Automated Teller Machine (ATM) naira card transactions to preserve foreign exchange reserves. First Bank of Nigeria Limited confirmed the new development in emailed note to customers. It said the move was in line with current economic realities. It said it will suspend international transactions on its naira Mastercard from September 30. The CBN rate sheet showed the naira exchanges at N430/$1 at the Investors’ and Exporters (I&E) forex window while black market rate was at N710/$, creating N280/$ premium between both rates. Banks’ decision followed consistent dollar scarcity and challenges faced by manufacturers and other real sector operators in sourcing foreign exchange from the economy. Banking sources said banks were increasingly finding it difficult to fund their foreign-currency denominated services, especially online forex transactions and overseas ATM withdrawals, as well as PoS usage overseas by customers.
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First bank had in March joined other Nigerian banks to reduce their monthly international spending limit on naira cards. The post First Bank announces suspension of international transaction on naira cards appeared first on Premium Times Nigeria .
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In a recent statement to its customers, the bank said such transactions would not be available on its naira credit card, virtual card and visa prepaid naira card.
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In March, financial institutions reduced the international spending limit on Naira cards from $100 to $20 monthly. The post First Bank to Suspend International Transactions on Naira Cards from Sept. 30 appeared first on TechEconomy Nigeria .
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Due to the growing shortage of foreign currency in Nigeria, First Bank of Nigeria has banned international transactions using the Naira Mastercard, Naira Credit Card, our Virtual card, and Visa Prepaid Naira card. This was revealed in an email sent to customers and seen by National Daily titled, “Review of cross-border limit on Naira Card.” […] The post First Bank suspends dollar transactions on naira debit cards appeared first on National Daily Newspaper .
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Fitch Ratings has affirmed the Long-Term Issuer Default Ratings of FBN Holdings Plc and its banking subsidiary, First Bank of Nigeria Limited, ‘B’ from ‘B-’ with a stable outlook. Fitch also upgraded their Viability Ratings to ‘b’ from ‘b-’. The global rating agency said this in a report that the upgrade of the Long-Term IDRws …
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SYRACUSE, Kan.--(BUSINESS WIRE)--First National Bank of Syracuse is proud to announce it is now Dream First Bank.
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It’s the season of good news and rewards for all Verve cardholders as Africa’s leading payment card scheme and digital token brand, Verve, rewards cardholders with exciting gifts and cash prizes in its third National Consumer Promo, Verve Good Life 3.0. Verve has partnered with eight commercial banks namely, First Bank, Zenith, Access, Ecobank, FCMB, Union, Fidelity and United Bank for Africa (UBA) to reward its loyal customersSince the promo started on August 22, 2022, Verve has put smiles on the faces of its cardholders by rewarding them with 10% cashback on their weekly spend, at the end of every week. Continue reading How To Win In The Verve Goodlife National Consumer Promo at BizWatchNigeria.Ng.
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The ongoing talent exodus from Nigeria, popularly called ‘japa’ (a Yoruba word for “run quickly”), is forcing some companies, particularly in the banking industry, to reduce the education criteria for their recruitment process. BusinessDay findings from a survey of job listings from recruitment websites found that Access Bank, First Bank, Guaranty Trust Bank (GTB), First […] read more Nigerian firms adjust employment criteria as ‘japa’ surges
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Commercial banks have mandated travellers in need of dollars – Personal Travel Allowance (PTA) and Business Travel Allowance (BTA) – to get travel debit cards as they commence card-based dollar disbursements. The policy shift, announced by many banks including FirstBank and Access Bank, followed rising cases of abuse by travelers who get forex but fail to use it for trip-related purposes or turnaround to trade the funds at black markets. It is also a part of the Bankers’ Committee policy to use digital processes to track forex transactions, stop fraudsters from abusing the system, and save scarce forex for the economy. The Central Bank of Nigeria (CBN) guidelines require that a company can buy up to $5,000 BTA per quarter while an individual is entitled to $4,000 PTA per quarter. At one of the bankers’ committee meeting in Lagos last year, Group Managing Director, Guaranty Trust Holding Company Plc, Segun Agbaje, said there have been incidents of customers presenting expired passports, invalid flight tickets, or open tickets that are canceled after they acquire the foreign exchange.
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Due to the inability of First Bank Nigeria PLC, to liquidate its outstanding tax liabilities of…
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Kogi State residents who have accounts with First Bank Nigeria PLC expressed worries over the shutting down of the bank''s branches operating in the state. Reports obtained by Naija News on Tuesday, September 13, 2022, revealed that the State Government has sealed off the apex bank branches in the state over alleged tax evasion. The government''s action according to the report was carried out following an order by a Kogi High Court sitting in Lokoja, the state capital. The bank was said to have failed to liquidate its outstanding tax liabilities to the tune of N411.12 million to the Kogi State Government. After several follow-ups, the Kogi State Internal Revenue Service (KGIRS) decided to shut down the bank branches on Monday after obtaining the court order, Naija News understands. Explaining the situation in a brief interaction with newsmen, Director, Legal Services of the KGIRS, Bar. Saidu Okino who spoke from his office said the amount represents outstanding withholding tax from the bank’s mobile banking agents from 2015 to 2022.
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Tribune Online Kogi internal revenue agency seals off First Bank over N411m tax default Kogi State government has sealed off all First Bank Nigeria PLC branches operating in the state on the order of a Kogi High Court sitting in Lokoja. The seal was effected by Kogi State Internal Revenue Service (KGIRS) following the inability of the bank to liquidate its outstanding tax liabilities of over N411.12 million to […] Kogi internal revenue agency seals off First Bank over N411m tax default Tribune Online
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Robbers armed with sophisticated weapons on Tuesday afternoon raided several banks in the Ankpa Local Government Area of Kogi State. The robbers, who were said to be in large number, invaded the community and operated for close to an hour unhindered. Ripples Nigeria, in a phone conversation with a resident in Ankpa, Hassan Ayuba, learnt […] The post Panic as armed robbers raid First Bank, Zenith Bank in Kogi, escape with cash appeared first on Latest Nigeria News | Top Stories from Ripples Nigeria .
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Nigerian banks which have released their half-year 2022 financial results on the Nigerian Exchange Group recorded a collective growth of 68 percent in interest expense on deposits from their customers. The banks include First Bank, Zenith Bank, FCMB, Stanbic IBTC, Sterling Bank, Union Bank, and Wema Bank. The market awaits the release of the 2022 […] read more Nigerian banks’ interest expense on deposits surges 68% in H1 2022
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Two-tier one banks, First Bank of Nigeria and Zenith Bank have raked in their highest half-year income from account maintenance charges in the last eight, finding by BusinessDay has shown. According to BusinessDay’s findings, First Bank of Nigeria and Zenith Bank collectively generated N28.88 billion from accounts maintenance fees in the first half (H1) of […] read more First Bank, Zenith Bank earn highest account maintenance income in 8 years
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First Bank of Nigeria has rounded off its Verve Card campaign designed to reward customers for their continued usage of the Verve debit Card, with the presentation of a brand new car to the star prize winner as well as 32 inches LED Televisions to other customers at the grand finale of the promo. The […] The post First Bank Rewards Customers With Car, TVs in Verve Promo Finale appeared first on THEWILL NEWS MEDIA .
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The management of the Nigeria Social Insurance Trust Fund (NSITF) has said it is giving necessary assistance to the Senate to carry out its statutory oversight functions with regard to the N17.15 billion which was allegedly misappropriated from the agency between 2012- 2015. It explained that the misappropriated fund was from 2012- 2015, adding that it emanated from the 2018 Audit Report of the Office of the Auditor General of the Federation. In a statement issued by the NSITF management yesterday, in Abuja, it said when the Senate Committee initiated the current probe in 2021, the agency had to set up an internal committee to retrieve from First Bank and Skye Bank, detailed transactions involving the NSITF under the period as requested by the Committee. The management said relevant documents were subsequently submitted to the Senate Committee. The statement reads: “And to further assist the Senate Committee in the performance of their function at their prompting, we equally invited the former Managing Directors – Munir Abubakar (2010-2016), Ismail Agaka (2016-2017), and Bayo Somefun (2017-2020), under whose tenures these infractions as reported in the Auditor General’s Report took place, to respond to some of the questions raised in the reports of 2018 which the Senate is probing.
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For erstwhile staff of MTN Nigeria, Adekunle Adebiyi, working at the telecoms giant has attracted a lot of positives to him more than anything else, in the course of his career. The immediate past Chief Sales and Distribution Officer of MTN Nigeria spoke recently when he was hosted by MTN Partners, a body of distributors of MTN products and services and agencies responsible for customer acquisition. The group commended Adebiyi’s stellar leadership qualities which positively contributed to the growth and development of MTN Nigeria over the years. Amongst the roll call of guests who attended the shindig were Adebiyi’s former colleagues and associates like the Group Head of Corporate Banking at First Bank, Osahon Ogieva; the Chief Commercial Officer of Airtel Nigeria, Godfrey Efeurhobo; the CEO of ITEX Integrated Services, Ernest Uduje; the Head of Global Transaction Banking at Access Bank, Morenike Ogunwolu and the former Sales & Distribution Executive of MTN Nigeria, Tsola Barrow. Commenting on Adebiyi’s remarkable leadership attributes, Oye Ojo, an MTN Trade Partner, noted he upheld the principles of integrity, fairness, and justice while discharging his duties during his time at MTN Nigeria. “He ensured that our operations complied with the standards of regulatory bodies, including that of MTN Nigeria, while he also afforded us the opportunity to contribute our own quota to the development of the country’s telecommunications sector through our business-related engagement with MTN Nigeria.
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The latest report of the global incidence of Vesico Vaginal Fistula (VVF) disease shows that Nigeria currently bears between 400,000 to 800,000 out a total of 2 million cases in the world. The report also indicates that at the moment Nigeria is the highest carrier of the disease in the world. A breakdown of the […] read more First Bank flags off multimillion Naira initiative to reduce VVF in Nigeria
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First Bank of Nigeria has sponsored the surgery of 50 Vesico Virginal Fistula (VVF) patients and supported 100 patients with empowerment packages in Kano State. The Executive Director, Public Sector, FBN, Mr Abdullahi Ibrahim, said on Thursday in Kano that… The post First Bank Sponsors Surgery Of 50 VVF Patients, Empowers 100 appeared first on City Business News .
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First Bank of Nigeria (FBN) Limited, has sponsored the surgery of 50 Vesico Virginal Fistula (VVF) patients and supported 100 repaired patients with empowerment packages in Kano State. The Executive Director, Public Sector, FBN, Mr Abdullahi Ibrahim, said on Thursday in Kano that the effort was part of the bank’s activities in the area of […] The post First Bank sponsors surgery of 50 VVF patients in Kano, empowers 100 VVF appeared first on Nigeriannewsdirectcom .
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First Bank of Nigeria (FBN) Limited, has sponsored the surgery of 50 Vesico Virginal Fistula (VVF) patients and supported 100 repaired patients with empowerment packages in Kano State. The Executive Director, Public Sector, FBN, Mr Abdullahi Ibrahim, said on Thursday in Kano that the effort was part of the bank’s activities in the area of its Corporate Social Responsibility ( CSR). “As part of activities marking our social responsibility week, we decided to sponsor the surgery for 50 VVF patients. “After undergoing surgery, we will also empower them to enable them start businesses to support themselves and their families. “We are also supporting additional 100 women who were already being treated with the same kind of resources,” he said. Ibrahim said that Obstetric Fistula is associated with psychological, social and economic challenges, including stigma, discrete, abandonment and neglect. “That is why there is the need for rehabilitation and reintegration based […] First Bank sponsors surgery of 50 VVF patients in Kano, empowers 100 NNN NNN - Nigeria News, Latest News Updates Today
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Sensex advances 250 points, Nifty50 above 17,650; Bharti Airtel, Tata Steel rise 1% each; RBL Bank, IDFC First Bank, Yes Bank among most active stocks on NSE.
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AMMAN, JORDAN, August 23, 2022 /EINPresswire.com/ -- Bank al Etihad recently signed an agreement with CRIF ITS Jordan, a subsidiary of the CRIF group. The agreement will provide Bank al Etihad and its SMEs and corporate clients access to Synesgy, …
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First Bank of Nigeria Limited has announced the appointment of Patrick Iyamabo as an Executive Director. According to a statement, the appointment is subject to the approval of the Central Bank of Nigeria… The post First Bank appoints Iyambo as executive director appeared first on The Guardian Nigeria News - Nigeria and World News .
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First Bank of Nigeria, has kicked off the Fifth edition of its Corporate Responsibility & Sustainability (CR&S) week today, in furtherance of its continued commitment to impacting the lives of individuals in its host communities across seven countries, including Nigeria, United Kingdom, Ghana, DRC, Guinea, Sierra Lone, Senegal and Gambia. Themed “Kindness… A Way […]
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First Bank of Nigeria Limited has disclosed the appointment of Patrick Iyamabo, as its Executive Director. In a statement in which this disclosure was made, the Chief Executive Officer (CEO) of First Bank, Dr. Adesola Adeduntan said even though Iyamabo’s appointment is subject to the regulatory approval of the Central Bank of Nigeria (CBN), she’s delighted at it. ’We are delighted with the appointment of Mr Patrick Iyamabo, as his elevation to the board is hinged on his excellent track record and the level of commitment he has demonstrated to the FirstBank Group. Continue reading First Bank Discloses Appointment Of New Director at BizWatchNigeria.Ng.
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Tribune Online First Bank announces Patrick Iyamabo as Executive Director FIRST Bank of Nigeria Limited has announced the appointment of Mr Patrick Iyamabo, as an Executive Director. The appointment is subject to the approval of the Central Bank of Nigeria (CBN). Prior to Mr Iyamabo’s appointment as Executive Director of FirstBank, he served as the Chief Financial Officer of FirstBank and its subsidiaries, having joined […] First Bank announces Patrick Iyamabo as Executive Director Tribune Online
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The expectation that Nigeria’s economy will suddenly experience a rebound leading to the eventual appreciation of the local currency against the US Dollar will remain a pipedream in the absence of a corresponding fiscal authority policy support for the ongoing monetary policies, writes Group Business Editor, SIMEON EBULU . Recent measures by the Central Bank of Nigeria (CBN) to further scale down basic forex allocation, in the form of Personal Travel Allowance (PTA) and Basic Travel Allowance (BTA), including other foreign allowances and stipends to those travelling overseas, clearly underscores the precarious position the monetary authority has found itself in continuing to make scarce FX available to end users. The Deposit Money Banks (DMBs) in response to recent CBN’s guidelines, have cut $2,500 from the $4,000 quarterly allocation to Nigerians who needed such foreign exchange to address basic needs while they are on a brief stay abroad, either holidaying or on business trips. That amount used to be as moderately high as $10,000 some years back.
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First Bank of Nigeria Limited, Nigeria’s premier services provider announced the appointment of Patrick Iyamabo as an executive director. The appointment is subject to the approval of the Central Bank of Nigeria. Speaking on the appointment, Adesola Adeduntan, CEO of FirstBank said, ‘’we are delighted with the appointment of Patrick Iyamabo as his elevation to […] read more First Bank announces the appointment of Patrick Iyamabo as executive director
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The Nigeria Social Insurance Trust Fund ( NSITF ) has said the 2018 Audit Report by the Office of the Auditor General of the Federation (OAuGF), which raised 50 queries on misappropriation of N17.158 billion, has nothing to do with its current management, which came into office on June 1, 2021. A statement yesterday in Abuja by the agency’s General Manager for Corporate Affairs, Ijeoma Okoronkwo, said the current probe by the Senate Committee on Public Accounts was in exercise of its statutory oversight functions. But it added: “It is overly important to inform the general public that what is under investigation are not new infractions but a cumulative financial violations under the management that ran the agency between 2012 and 2017.” The statement also said: “These infractions are not new. They have, in fact, been subject of probe since the Office of the Auditor General of the Federation first raised the red flag in 2015. “We make it clear, therefore, that the negative trails of these breaches have nothing to do with the present management beyond assisting the Senate Committee to carry out its oversight functions, knowing full well that government is a continuum. “On record, the Economic and Financial Crimes Commission (EFCC) has probed and taken the former Chairman of the Board and five other senior officials, including the Managing Director and three directors, to court over some of the issues.
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Tribune Online First Bank reiterates commitment to youth empowerment First Bank of Nigeria Limited has announced its commemoration of the 2022 International Youth Day, globally celebrated on 12 August 2022 and themed ‘Intergenerational solidarity: Creating a World for All Ages. The International Youth Day is commemorated every year on 12 August, bringing youth issues to the attention of the international community and celebrating the […] First Bank reiterates commitment to youth empowerment Tribune Online
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The Senate Public Accounts Committee (SPAC) has put the current and past management of the Nigeria Social Insurance Trust Fund (NSITF) under scrutiny. The committee said it discovered that the fund’s management failed to produce relevant documents to justify alleged spending of N17.158 billion in 2013. Some of the documents to back the expenses were said to have been eaten up by termites. The Office of the Auditor General of the Federation (OAuGF), in its 2018 audit report – now being considered by the Senate panel chaired by Senator Matthew Urhoghide (Edo South) – had queried the agency over the disbursed sums without appropriate supporting documents. In his report, the AuGF said the N17.158 billion represented the total sum of money, transferred by the agency from its Skye and First Bank accounts, into various untraceable accounts belonging to individuals and companies between January and December 2013. The OAuGF had, in its 2018 audit report, raised 50 different queries bordering on alleged misappropriation of funds against the agency.
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First Bank of Nigeria Limited has announced its commemoration of the 2022 International Youth Day,&n…
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First Bank (NASDAQ:FRBA) has declared $0.06/share quarterly dividend, in line with previous.Payable Aug. 26; for shareholders of record Aug. 12; ex-div Aug.
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Africa’s leading payment cards and digital tokens brand, Verve, in partnership with First Bank has rewarded the grand prize winner of the Transact and Win Promo, Mr. Olakunle Animasaun, the Chairman of Kanwal International Limited, with a brand-new Suzuki S-Presso car during the prize presentation ceremony at First bank’s head office in Lagos. The Verve Transact and Win Promo organized in collaboration with First Bank was designed to reward loyal Verve cardholders with cash and exciting prizes during the 14-week period of the promo. Continue reading Verve Rewards Cardholders With Brand New Car & Other Prizes Worth Over N50 Million at BizWatchNigeria.Ng.
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First Bank of Nigeria Limited has reopened its headquarters (Coomassie House) located at the Central Business District, Abuja. The News Agency of Nigeria (NAN) reports that the office was on Aug. 4, sealed by the FCT High Court Enforcement Unit over its failure to comply with a garnishee order. A garnishee order is one of …
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The Federation Account Allocation Committee (FAAC) has asked the Nigeria National Petroleum Company (NNPC) Limited to submit state-by-state consumption of Premium Motor Spirit (PMS) to it. The order is contained in the FAAC Post-Mortem Sub-Committee (PMSC) Final Report submitted to the Whole House at last month’s meeting of the Committee in Abuja FAAC members lamented that the consumption of PMS had been a major concern to members and it was raised at the FAAC plenary. “Therefore, to ascertain the consumption, the sub-committee also requested the relevant agencies to submit the state by state consumption of PMS in the country for 2021,” it was said. A FAAC member told The Nation that “the state governments have had enough of NNPC’s shenanigans and arrogance in its handling of revenue meant for the Federation Account”. The NNPC has not remitted a kobo into the Federation Account since the beginning of this year. The company has reported to the committee that it could not make the expected remittances because it spent its revenue on subsidy.
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Deposed Emir of Kano, Sanusi Lamido Sanusi, says he will continue to speak and air his views to defend and rebuild Nigeria. Sanusi, who is also the current Khalifah, Tijaniyat Movement of Nigeria, said this in Abuja on Saturday at a stage play titled “Emir Sanusi: Truth in Time.’’ The play was written by Prof. Ahmed Yerima, a professor of Drama at the Redeemer University and produced by Executive Chairman, Duke of Somolu Productions, Mr Joseph Edgar. The 14th emir said he has what it takes to contribute to nation building because of his long history of service to the country. He said he served as Chief Risk Officer at the United Bank for Africa, and at First Bank, and also as CBN governor; as Emir of Kano for six years and Khalifah, Tijaniyat Movement of Nigeria. Sanusi argued that he would be ungrateful to God if he expressed regret or sadness over his removal as emir in spite of positions he occupied in life. “I don’t think that God has taken anything away from me. So, I have no regret. “I turned 61 years last year and in those years, I had the honour of having been the Chief Risk Officer at United Bank for Africa (UBA) and the Chief Risk Officer at First Bank. “I was Governor of Central Bank, Emir of Kano and now Khalifah, Tijaniyat Movement of Nigeria. “If I have sadness, then I’m ungrateful.
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The FCT High Court Enforcement Unit, on Thursday, August 4, 2022, sealed First Bank’s headquarters in Abuja, a development that left many of the financial institution’s customers stranded. According to multiple reports, the First Bank’s headquarters was sealed off over the lender’s failure to comply with a garnishee order. BizWatch Nigeria understands that a garnishee order is a court-approved directive that allows a creditor to redirect a person’s funds to them when they are owed money. Continue reading Why Abuja Court Sealed First Bank’s Headquarters In Abuja at BizWatchNigeria.Ng.
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By Lydia Ngwakwe The First Bank of Nigeria Ltd. has rewarded the grand prize winner of its Verve Card campaign, Mr Olakunle Animasaun, the Chairman […]
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The foremost Bank, in a press statement signed by Kehinde Taiwo, of Marketing and Corporate Communications, said the online report was conflicting, as it was in one version claiming head office, while in the other reporting branch outlet.
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First Bank Nigeria Limited has said contrary to some reports in the media, none of its branches or head office was closed. A statement on Friday, obtained by Newsbreak.ng reads: “Our attention has been drawn to the news reports online with the conflicting claims that FirstBank branch or/head office has been sealed. “Please be informed […] The post First Bank Speaks On ‘Closure’ Of Head Office, Branches appeared first on Newsbreak.ng .
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The headquarters of Firstbank located at the Central Business District, Abuja, was on Thursday sealed by the FCT High Court Enforcement Unit over failure to comply with a garnishee order. A garnishee order is one of the options open to a judgment creditor to enforce a judgment that has been made in his favour. It … The post Court seals up First Bank’s headquarters in Abuja; removes valuables appeared first on Daily Review Online - Nigeria and World News .
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First Bank of Nigeria Limited has announced that its Firstmonie agents have collectively processed transaction volume in excess of one billion, amounting to over N22 trillion. According to a statement by the bank, the agents have been integral to bringing financial services closer to the under-banked and unbanked segment of the society, providing convenient banking […] read more Firstmonie agents processed N22trn worth of transactions – First Bank
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