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Wema Bank increases benefits on its Royal Kiddies Account for Children

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Wema Bank, Nigeria’s Leading innovative financial institution, has rolled out a new benefit for parents and children on its bespoke children’s savings account, Royal Kiddies Account (RKA), in a new campaign to encourage savings and financial prudence.
From November 1, 2022, through January 30, 2023, parents who set up a standing instruction via ALAT or in-branch for the automated funding of their children’s Royal Kiddies Account with a minimum of N10,000 per month, will be eligible for the annual educational award for 20 account holders.
Also, by consistently increasing their Royal Kiddies Account savings, account beneficiaries are automatically positioned to earn more interest, as the RKA offers an attractive interest rate that is 1% higher than the standard savings interest rate
Administrators of the Royal Kiddies Account (parents) are also allowed to deposit dividend warrants and cheques in their child’s or children’s name, and can view and fund the account from anywhere, 24/7 using the ALAT app
Wema Bank’s Divisional Head, Retail Business, Dotun Ifebogun, commented on the campaign, stating that the latest initiative demonstrates the bank’s dynamism in providing innovative solutions that empower customers across all segments and strata and deepens digital adoption and financial inclusion.
This campaign will further boost digital adoption and financial inclusion and emphasizes parents using ALAT to create standing orders. It enables account administrators to perform a variety of advantageous tasks from anywhere at their convenience. “The addition of ALAT to the list of account holder benefits enhances the Royal Kiddies Account’s uniqueness,” he stated.
Dotun added that the campaign was also launched to encourage parents and their children to adopt the habit of regular savings and to provide for their children’s future while rewarding them for their continued loyalty

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Business

Wema Bank To Support SMEs In Port Harcourt With SME Business School 4.0

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Wema Bank Plc, the pioneer of Africa’s first fully digital bank, ALAT, has once again demonstrated its unwavering commitment towards developing the capacity of SMEs in Nigeria to scale by launching the fourth edition of its SME Business School in Port Harcourt.
Designed to help build capacity for SMEs in the country, Wema Bank’s SME Business School was launched in Lagos in 2021. The second edition took place virtually, while the third edition happened in Abuja. Now making its journey to the South-South geopolitical zone of the country, the initiative has helped to equip SMEs in various parts of the country with the business management knowledge and skills required to effectively run their enterprises and respond to the ever-evolving challenges of today’s business world.
According to the Divisional Head, Retail Business at Wema Bank, Dotun Ifebogun, the Wema SME Business School was birthed in a bid to close the critical knowledge gap in the SME space in Nigeria, and each edition of the programme takes place in a different part of the country to ensure that SMEs all around the country participate and benefit.
He mentioned that the 4th edition of the Wema SME Business School, which holds in Port Harcourt and starts on Monday, November 14, 2022, would impart contemporary business management skills and knowledge to growing businesses operating within the South-South region of the country. “We intend to make them champions and successful enterprises, thus supporting the economic growth of the country,” he said.
He disclosed that the bank has collaborated with top-notch consultants from renowned organizations within and outside Nigeria, including Deloitte, Facebook (Meta), and Nexford University, to serve as facilitators on the programme and ensure that the participants get an immersive and invaluable learning experience.
Dotun further noted that the initiative would be a meaningful addition to SMEs seeking to scale and strengthen their market positions.
“As an SME-friendly bank, we understand that starting and running a business in Nigeria is no small feat, and there are lots of challenges that SMEs face.
“We started the Wema SME Business School to equip them with relevant and practical knowledge that will guide them in the effective running of their businesses and to surmount any challenges that they encounter.
“Through this, we can tackle problems such as poor access to finance, poor market access, technological disruptions, and macroeconomic uncertainty. All in all, we will equip them with fresh ideas and insights that will help them to take their businesses to a higher level,” he said.
Businesses interested in leveraging this opportunity and participating in the Wema SME Business School 4.0 can register with the link https://forms.gle/TRj7ACzTQJkWrb3D8.
The Wema SME Business School is one of the various beyond-banking initiatives offered by Wema Bank PLC to complement its bespoke financial offerings for SMEs.

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Business

FBNBANK UK STANDS TALL AT 40, APPRECIATES ITS CUSTOMERS AND REGULATORS

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FBNBank UK, a member of First Bank of Nigeria Limited and Subsidiaries had London, the United Kingdom painted blue as it celebrated its 40th anniversary, themed Partnership Beyond Borders, on Friday, 11 November 2022.

The event which had customers, members of government functionaries and the diplomatic community, regulators, captains of industries in attendance, was convened to appreciate the patronage and support the Bank had received since it opened its doors in the United Kingdom 40 years ago. As key stakeholders, they were instrumental to establishing the Bank as an important gateway to connect international markets in Africa, Europe and the rest of the world to the finest financial services solutions that the UK has to offer.

Guests at the event include Hon. Justice Olukayode Ariwoola GCON, Chief Justice of Nigeria; Oba Sen. Dr. Moshood Olalekan Ishola Balogun, Alliiwo II, Olubadan of Ibadan land; Ambassador Sarafa Tunji Isola, High Commissioner, Nigerian High Commission, UK; His Highness, Muhammadu Sanusi II, former Governor, Central Bank of Nigeria.

Other dignitaries that graced the occasion include Alhaji Umaru Abdul Mutallab, Nigerian businessman and former Chairman of FirstBank; Mohammed Indimi OFR, Chairman, Oriental Energy Resources.

Delivering his welcome address to the dignitaries and guests present, Sam Aiyere, Chief Executive Officer, FBN Bank UK Ltd said “since its establishment, our Bank has demonstrated an unmatched dexterity, serving as a gateway connecting international markets in Africa, Europe and the rest of the world to the finest financial services solution that the UK has to offer. Through its office in the UK and the Paris Branch, our Bank has continued to facilitate international trade between Africa and Europe while offering top-notch, world-class corporate, institutional, and private banking solutions to our esteemed customers.

We have recorded laudable achievement only because you stand solidly with us. Therefore, I dedicate the success of the past 40 years to all our stakeholders. Thank you for being the lever beneath our thrust”, he also added.

Appreciating the patronage and support extended to FBNBank UK, Dr. Adesola Adeduntan, CEO, FirstBank said “today we celebrate 40 years of unbroken business operations in the United Kingdom; 40 years of supporting and enabling dreams; 40 years of resilience and relevance; 40 years of trust, safety and security; 40 years of long-term value to all stakeholders; and 40 years of partnerships beyond borders. I believe the future is bright for FBN Bank UK. With our beautiful outing tonight, our Group stands out, once again, as one big and happy family of many parts.

In his speech, Godwin Emefiele, Governor, Central Bank of Nigeria highlighted that “FBNBank UK’s established presence in a leading global financial centre such as London ensures that FirstBank Group is well positioned to play an active role in the promotion of Africa as an investment destination, attract much needed capital to the continent and facilitate trade with other parts of the world. The presence of FirstBank in other countries outside Nigeria shows that the span of its impact is continent-wide. As you are headquartered in the largest economy on the continent, you have a unique role in also facilitating capital flows into other African countries and assisting their economic growth and development.

In addition, in his goodwill message, President Muhammedu Buhari, GCFR, President and Commander-in-chief, Federal Republic of Nigeria said “FirstBank has profoundly demonstrated a high level of nationalism by keeping the Nigerian dream at the heart of its business through constant evolution to birth agile financial services solution to suit the demands of its customers both home and abroad. Also, perhaps more than any other institution in its class, FirstBank has supported the Government by providing human resources at various times to booster much required professional expertise in various sectors of our economy.”

Established in the United Kingdom in 1982 as the London Branch of the First Bank of Nigeria Limited., FBNBank UK was initially established to service the UK banking requirements of Nigerian companies and FirstBank.

Later in November 2002, the Bank was incorporated in the UK as a registered and a wholly-owned subsidiary of First Bank of Nigeria Limited with offices in the City of London and has then developed into a much broader business in the gateway to Europe and beyond for African banks, companies and high net worth individuals.

 

 

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Business

BUHARI CONGRATULATES FBN ON 40 YEARS OF CROSS-BORDER BANKING IN UK

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President Muhammadu Buhari has congratulated the Board, Management, and Staff of First Bank of Nigeria Limited (FirstBank) for cross-border services through FBNBank UK in the United Kingdom for 40 years, sharing almost 130 years of banking experience.

In a statement signed by the Special Adviser to the President on Media & Publicity, Femi Adesina, Buhari noted the competence and professionalism that have become the hallmark of the Bank for many years.

This includes winning and retaining the trust of customers in Nigeria, and beyond, like in the United Kingdom, and successfully consolidating on its benchmark of reliability and professionalism.

“As the FBN, United Kingdom celebrates 40 years anniversary, the President believes the strength and buoyancy of any country depend largely on the capacity of the banking sector, extolling the organization for steady rise and expansion, with remarkable awards for transparency, accountability, and reliability,” the statement reads.

Buhari however, congratulates FBNBank UK for the milestone, and well-deserved acceptance and credence, urging the bank to further leverage on its strengths to retain the trust and confidence of the banking public.

FBNBank UK is a wholly owned subsidiary of the First Bank of Nigeria Limited, an African bank with a rich heritage, established in 1894 as the first banking institution in Nigeria.

FBNBank UK is authorised by the UK’s Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA).

Operating in the City of London with a branch in Paris and a representative office in Lagos, FBNBank UK provides a range of domestic and international banking and financial services.

Interestingly, it is the international banking and treasury centre of FirstBank and acts as connecting hub between the group and its regulatory, financial and social partners. FBNBank UK equally provides world-class, cross border trade and investment services to institutions, corporates and individuals conducting business in and with Africa’s most dynamic and vibrant economies.

FBNBank UK has been operating in the United Kingdom since 1982 as the London Branch of the First Bank of Nigeria Limited.

It was initially established to service the UK banking requirements of Nigerian companies and FirstBank.

In November 2002, the Bank was incorporated in the UK as a registered and a wholly-owned subsidiary of First Bank of Nigeria Limited with offices in the City of London.

Since then, FBNBank UK has developed into a much broader business in the gateway to Europe and beyond for African banks, companies and high net worth individuals.

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