Banking
FCMB Opens Ultra-Modern Branch in Karu, Nasarawa State
Customers of leading financial services provider, First City Monument Bank (FCMB), and Nigerians in general, who reside or run businesses in Mararaba-Karu, a satellite settlement town in Nasarawa State, neighbouring Abuja environs, including Nyanya, now have an opportunity to enjoy the excellent services offered by the Bank.
This is because FCMB has opened an ultra-modern and full-service branch strategically located at Plot 35779, Mararaba Gurku Karu, Nasarawa State in the town.
The new branch was commissioned at an impressive ceremony on Tuesday, October 23, 2018, bringing to three the number of branches of the Bank in Nasarawa environs and 205 across Nigeria.
The development is in line with FCMB’s strategic expansion approach and commitment towards bringing banking services directly to the door steps of its existing and potential customers. The location of the branch takes into consideration convenience for residents and businesses in Karu and neighbouring communities in Nasarawa and it is expected to promote financial inclusion in the country.
Apart from the experienced financial experts at the branch, it is equipped with unique physical and technological infrastructures that will ensure convenient transactions and sundry financial service delivery to customers in a relaxed environment.
In his speech at the commissioning of the new branch in Karu, the Managing Director of FCMB, Mr Adam Nuru said, “This is due to the importance of this area, not just as a residential hub, but as a major gateway to other strategic places in Nasarawa state.
“Though, most of our customers prefer to carry out transactions from wherever they are, using our alternate channels such as FCMBMobile, FCMBOnline, USSD code and ATMs spread widely across Nigeria, some customers still prefer human interaction when banking. This additional customer touch point will further boost our commitment in providing customers with simple, helpful and reliable banking services, in a conducive and convenient environment.”
Also speaking, the Divisional Head, Service Management & Technology of FCMB, Mr Oluwakayode Adigun, re-iterated the Bank’s commitment to strategically grow its network to meet the individual and business aspirations of its growing customer base across segments.
He disclosed that, “The new Karu branch, just like other branches of FCMB across Nigeria, brings with it something special in terms of structure, aesthetics and above all, the excellent customer experience to be provided by our excellent team of professionals.
“While we strategically pursue our digital agenda as a forward looking financial services operator, we will continue to support the financial inclusion vision of the Central Bank of Nigeria where every customer is adequately served on any channel in which such services are provided to meet their respective lifestyles and needs.”
In his address at the ceremony, Deputy Governor of Nasarawa State, Mr Silas Agara, commended FCMB for its commitment to national development through various forms of support to the private and public sectors.
The Deputy Governor, who was represented by the Commissioner for Finance, Mr Ayuba Ayenaje, said, “we are excited that FCMB has expanded its footprint in Nasarawa State and confident that this will go a long way to boost economic activities in our State. We are proud of the various initiatives of the Bank to support the people and government of Nasarawa state. With the opening of a branch in Karu town, the relationship will be taken to greater heights. On our part, we will support the Bank as much as we can”.
FCMB’s robust suite of financial solutions and award-winning service culture have continued to enhance its status as a leader in the Nigerian banking industry. Among other laurels, FCMB recently bagged the prestigious award of ‘’Excellence in Retail Banking’’ at this year’s edition of the New Age Banking Summit & Awards held from September 26 to 27, 2018 in Lagos. It has also been rated as the 3rd most customer-focused bank in retail banking (from 5th in 2017) by KPMG, a leading international consulting firm, in the 2018 Banking Industry Customer Satisfaction Survey (BICSS).
By Modupe Gbadeyanka
About N3.6 trillion has been repaid to the Central Bank of Nigeria (CBN) by the Asset Management Corporation of Nigeria (AMCON) since its inception in 2010.
This information was revealed by the chief executive of AMCON, Mr Gbenga Alade, during a media parley to update the press on the activities of the agency.
Mr Alade said at the moment, the organisation still owes the central bank about N3 trillion for toxic assets of banks in the country.
He praised the organisation for its asset recovery drive, stressing that when compared with others across the world, Nigeria has done well.
“It is important to stress that the corporation has done tremendously well, especially when compared to other notable government-owned Asset Management Corporations around the world.
“Based on the balance at purchase, AMCON outperformed other Asset Management Corporations all over the world by achieving over 87 per cent in recoveries despite the unique challenges associated with debt recovery in Nigeria.
“The Malaysian Danaharta, which is adjudged one of the best performing Asset Management Corporation’s, only achieved 58 per cent. The Chinese Asset Management Corporation, despite its stricter laws, achieved just 33 per cent.
“Only the Korean Asset Management Corporation (KAMCO), South Korea, has achieved more recoveries than AMCON, with about 100 per cent. This was due to their brute force with which they chased the obligors.
“Despite KAMCO’s recovery records, the agency is still operational to date with slight realignments in its mandate.
“Other noted Asset Management Corporations that have transitioned into a perpetual institution of the various governments include, China Asset Management Company, Federal Deposit Insurance Corporation (FDIC) USA, and KFW Germany.
“So, gentlemen, without sounding immodest, AMCON has done well, and we will not relent until all the outstanding debts are fully realized,” Mr Alade stated.
On the financial performance of AMCON, he said last year, the firm posted a revenue of N156.25 billion and operating expenses of N29.04 billion, while for the 2025 fiscal year should be a revenue of N215.15 billion and operating expenses of N29.06 billion.
By Modupe Gbadeyanka
One of the non-interest banks in Nigeria, The Alternative Bank (AltBank), has opened a new branch in Effurun, Delta State.
The new office will serve the Edo-Delta region and provide purposeful banking and real financial empowerment for individuals, entrepreneurs, and businesses, a statement from the firm stated.
The lender disclosed that the Effurun branch is a bold move in its mission to reshape banking in Nigeria.
The launch was graced by key dignitaries, including the Ovie of Uvwie Kingdom, Emmanuel Ekemejewa Sideso Abe I; the Chairman of Uvwie Local Government, Anthony O. Ofoni, represented his vice, Andrew Agagbo; and the Special Adviser to the Governor of Delta State on Community Development, Mr Ernest Airoboyi; amongst others.
The Divisional Head for South at The Alternative Bank, Mr Chukwuemeka Agada, emphasised the institution’s commitment to Warri and its surrounding communities.
“By establishing a presence here, we are initiating a transformation in the way banking serves the people of Delta. Our purpose-driven approach ensures that customers’ financial goals are not just met but exceeded,” he stated.
“This branch represents our pledge to empower Warri’s dynamic businesses and families, providing them with the tools to grow without compromise,” Mr Agada added.
“We understand the heartbeat of this community, and we are excited to integrate our bank into the fabric of this dynamic region,” he stated further.
On his part, the representative of the Ovie, Mr Samuel Eshenake, challenged the bank to facilitate development and employment within the Effurun community.
The Regional Head for Edo/Delta at The Alternative Bank, Mr Akanni Owolabi, embraced this challenge, pledging that the bank will work sustainably to drive local commerce.
“At The Alternative Bank, we are committed to being an active partner in the development of Effurun. We see this branch as a catalyst for creating opportunities, driving employment, and supporting the growth of local businesses.
“Our mission is to empower this community, ensuring that every step forward is one of progress, prosperity, and shared success.”
By Aduragbemi Omiyale
A partnership aimed to enable seamless, real-time and secure transactions for cardholders across Africa and the rest of the world has been entered into by Payattitude and PAPSSCARD, the card scheme initiative of the Pan-African Payment & Settlement System (PAPSS).
The collaboration will allow Payattitude cards issued by banks and other deposit-taking institutions to be co-branded with PAPSSCARD, Discover, Diners and Pulse for acceptance across their networks in Nigeria, Africa and worldwide.
As an initiative of the African Export-Import Bank (Afreximbank) and a key financial infrastructure supporting the African Continental Free Trade Area (AfCFTA), the PAPSSCARD scheme will facilitate instant cross-border payments in local currencies.
“This partnership reflects our commitment to cross-enterprise alliances and enabling inclusive, efficient, and borderless payments across Africa and the world
“With Payattitude, Nigerian cardholders and financial institutions can now enjoy the benefits of a Nigerian card that can be used worldwide,” a director at Payattitude, Dr Agada Apochi, said.
The acting chief executive of PAPSSCARD, Mr John Bosco Sebabi, said the aim is “to connect African payment ecosystems, reduce the cost and inefficiencies of cross-border payments, and strengthen African sovereignty over payments infrastructure.
“Collaborating with Payattitude, a key innovator in Nigeria’s payment space, represents a significant step towards a more unified African payment landscape.”
The chief executive of PAPSS, Mr Mike Ogbalu, said, “By bringing together PAPSSCARD’s robust cross-border payment capabilities with Payattitude’s leadership in the Nigerian digital payments, we are taking tangible steps toward building a single African market where individuals and businesses can transact easily and securely, both within and beyond Africa.”
Payattitude is the first-in-kind Nigerian Payment Scheme to pioneer multibank App and USSD Code *569#.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn