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FCMB Issues Official Statement on Collapse of Customer at Onipanu Branch, Debunks COVID-19 Claims

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Leading Nigerian financial institution, First City Monument Bank (FCMB), has issued an official statement to address the video making rounds about a customer who collapsed at its Onipan branch in Lagos State.

“Our attention has been drawn to a video making the rounds which shows a customer collapsing at our branch located at 178, Ikorodu Road, Onipan, Lagos State. We wish to clarify that:

  • At around 11am on Monday, May 04, 2020 a middle-aged man visited the branch to carry out a transaction on the ATM. In line with our COVID-19 health and safety measures, his temperature was taken and found to be normal, and a hand sanitizer was available for use beside the machine
  • While standing in line, however, the customer began to show signs of fatigue and collapsed. The fully masked and gloved branch support personnel came to his assistance, moving him to the branch security post.
  • Upon enquiry, the customer indicated he had not had anything to eat and had been waiting in line for a short while. After resting and eating some snacks, he regained his strength and left the branch on his own.
  • At no point did the customer exhibit any symptoms of respiratory distress, difficulty in breathing or high temperature as has been incorrectly reported on social media

“We understand the panic a 13-second video such as currently making the rounds can cause without the proper context at such a time as this. The current outbreak of COVID-19 has led to an unprecedented health situation and anxiety all around the world, including in Nigeria, where community transmission continues to rise.

“Ideally, this current anxiety should not be amplified by unverified, dramatic and purely hypothetical social media stories. We need to channel our energies towards curtailing the spread of the pandemic and ultimately, eradicating it entirely.

“FCMB is at the forefront of the drive to achieve these two objectives. We have deployed robust health and safety measures at all our open branches including making use of face masks by customers and staff mandatory; checking of temperature before admittance into our premises; provision of hand sanitizers which must be used before entry into the banking halls and ATM areas; hourly disinfecting of teller counters and customer service tables; and ensuring social distance is maintained at all times.

“We assure the public that we will remain unwavering in our commitment to doing all we can to safeguard our customers, employees and communities,” the statement said.

For more information about FCMB, visit www.fcmb.com

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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CBN Allays Fears of Keystone Bank Customers Over Safety of Funds

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Keystone Bank Customers

By Aduragbemi Omiyale

The Central Bank of Nigeria (CBN) has assured customers of Keystone Bank Limited of the safety of their funds with the financial institution.

Recall that on Wednesday, February 12, 2025, the Lagos State Special Offences Court sitting in Ikeja ordered the forfeiture of the bank to the federal government.

The lender was taken from its shareholders, Sigma Golf Nigeria and Mr Umaru Modibbo, after its acquisition in 2017 was challenged by the Economic and Financial Crimes Commission (EFCC).

This action caused apprehension among some depositors of Keystone Bank because of safety of their deposits.

However, the central bank, which dissolved the management of the company in January 2024 and appointed the current team, has said customers have nothing to worry about.

“Following the court order that the shares of Keystone Bank Limited previously held by the shareholders be forfeited to the Federal Government of Nigeria, the Central Bank of Nigeria (CBN) wishes to reassure the public that Keystone Bank Limited remains safe, sound, and fully operational.

“We acknowledge that this development may have triggered customer concerns; however, we wish to underscore that the stability of the banking system and the safety of depositors’ funds remain our top priorities. Keystone Bank’s operations are entirely secure, and there is no reason for concern.

“For clarity, the Court Order merely reaffirmed the Central Bank of Nigeria’s prior decision to take over the management of Keystone Bank Limited in January 2024, following a change in its leadership.

“Since then, the CBN has closely monitored the bank’s operations to ensure they are in full compliance with regulatory standards, operational transparency, and the interests of depositors.

“As part of our commitment to safeguarding the financial system and building public trust, we shall continue to monitor the bank’s performance. We will take all necessary steps to protect the interests of depositors, staff, and stakeholders.

“Customers are also encouraged to contact Keystone Bank’s customer support or visit any Keystone Bank branch for inquiries or concerns,” a statement issued by the CBN on Friday by its acting Director for Corporate Commissions, Mrs Hakama Sidi Ali, said.

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Stanbic IBTC Bank, IFC to Empower Women Entrepreneurs

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Stanbic IBTC IDE

By Aduragbemi Omiyale

Research has showed that apart from funding, some of the unique challenges faced by women entrepreneurs are lack of business acumen and mentorship.

To address these hurdles, Stanbic IBTC Bank and the International Finance Corporation (IFC) have come together to empower women entrepreneurs.

The partnership aims to create a pathway to success for women who seek to turn their dreams into realities.

They will do this through the Goldman Sachs 10,000 Women programme, which offers tailored support, comprehensive business education, mentorship opportunities, and a platform for networking with industry leaders and fellow entrepreneurs.

The Goldman Sachs 10,000 Women is a global initiative delivered through the University of Leeds to foster economic growth by providing women entrepreneurs around the world with practical education, interactive activities, and instruction by educators from top business schools reaching over 200,000 women.

The curriculum covered in the training includes financial literacy, strategic planning, marketing strategies, and leadership development.

“We believe that supporting women in business is not just a necessity, but also a celebration of their resilience and determination. This was the reason we created the Blue Blossom community to allow women to network, get mentorship, and connect them to financial opportunities with discounted offerings that enable their businesses to grow.

“Our partnership with IFC to enroll women in the Goldman Sachs 10,000 Women SME training embodies our admiration and respect for women entrepreneurs.

“It is part of our commitment to ensure members of the community continue to get the support they need to ensure their businesses thrive,” the Head of Enterprise Banking at Stanbic IBTC Bank, Ms Olajumoke Bello, stated.

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GTBank Removes POS Processing Fees to Support Merchants

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GTBank POS Processing Fees

By Aduragbemi Omiyale

Guaranty Trust Bank (GTBank) Limited has reinforced its commitment to supporting businesses with cost-effective payment solutions by removing processing fees on all its Point-of-Sale (POS) terminals.

The company said this became effective Tuesday, February 11, 2025.

With this development, all merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when receiving payments from customers.

With this initiative, all qualifying SME Merchants can now receive payments at zero cost, allowing them to reduce operational expenses, whilst promoting the merchant’s enterprise, and enhancing customer experience.

The Zero Processing Charge campaign aligns with GTBank’s ongoing efforts to empower businesses with innovative financial solutions that drive growth and efficiency.

For more information, merchants are encouraged to contact their Relationship Managers or reach out to the Digital Banking Support Team at [email protected].

“At Guaranty Trust Bank, we are always looking for ways to add value to our financial ecosystem.

“By implementing the zero processing fees on POS transactions, we are empowering businesses to get the full value of every payment they receive, whilst also ensuring a more seamless and efficient payment experience,” the Managing Director of GTBank, Ms Miriam Olusanya, said.

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