Connect with us

Banking

The Inspiring Growth of FBNQuest Trustees in 40 Years

Published

on

The Inspiring Growth of FBNQuest Trustees in 40 Years

For the past 40 years, FBNQuest Trustees Limited, an FBN Holdings company, has been in the business of providing world-class trust and estate planning services in Nigeria.

Last Friday, FBNQuest Trustees, to celebrate its milestone anniversary, hosted its esteemed stakeholders at an event themed A Legacy that Preserves Legacies held at The Landmark Event Centre in Lagos.

The event presented an opportunity for FBNQuest Trustees to share key insights on the importance of Corporate Trust Management, Estate Planning, and Wealth Transfer, which were crucial elements to ensuring the preservation of legacies.

Speaking about the milestone celebration, Managing Director and Chief Executive Officer of FBNQuest Trustees, Mr Adekunle Awojobi, emphasised the firm’s impact on trusteeship business in Nigeria, and by extension, the economy.

He said, “From when we began our journey in 1979, FBNQuest Trustees has delivered impeccable solutions for the safekeeping of our clients’ assets, the transfer of generational wealth, and the preservation of their legacies. We are extremely proud to be a part of the 125 year-old legacy of First Bank of Nigeria Limited, and the rich heritage of FBN Holdings as we celebrate a 40 year track record of distinction, dependability and professionalism in the trustee business.”

“We want to thank everyone who has contributed to the growth of the company over the years, as we continue to provide excellent services to our clients. We also take this opportunity to recommit to excellently serving our clients across diverse sectors to ensure that their legacies are preserved,” he added.

In terms of growth and financial performance, the company has continuously delivered shareholder value in alignment with the mandate of the Group.

From a share capital of about N30 million in 90s, the company has increased to a share capital of N3 billion in 2019; and has grown its profit after tax (PAT) year on year consistently, with liquid trust assets under management in excess of N40 billion as at June 30 2019.

FBNQuest Trustees was incorporated as Standard Trustees Nigeria Limited on August 8, 1979. The company at the time was a wholly owned subsidiary of First Bank of Nigeria Limited, which was known as Standard Bank of Nigeria Limited.

The name Standard Trustees Nigeria Limited was changed to First Trustees Nigeria Limited in March 1980; and in April 2014 it was renamed FBN Trustees Limited to align with the FBN Holdings group naming convention.

In November, 2017 it was again re-named FBNQuest Trustees Limited to signal its membership of the FBNQuest family, and its commitment to partnering with its clients on their quest to define and achieve financial success.

FBNQuest Trustees is modelled as a representation of the forward thinking culture of the FBN Holdings group, to improve and develop specialised capabilities within the trusteeship, asset and fund management services of the Nigerian financial system.

Today, the company specialises in providing Investment Advisory Services, Corporate, Public and Private Trust Management; and as a part of FBNQuest draws on the trailblazing spirit, and a consistent focus on excellence to deliver exceptional services to clients.

Over the past 40 years, FBNQuest Trustees has not only become a leading trust company in Nigeria, but also a key pillar in the business of trusteeship.

To highlight some of its key achievements over the years, the company continues to be the preferred local partner for international and multilateral entities looking to have businesses in Nigeria, and in 2013 served as the sole bond trustee on the very first bond issued by a multilateral institution in Nigeria (International Finance Corporation (IFC) $50,000,000 fixed rate senior unsecured bond).

FBNQuest Trustees is the first trust company to publish an educative compendium on estate planning to actively engage, and educate stakeholders, on the importance of Estate Planning in Nigeria, through its Legacy Series; and is a pioneer for Islamic finance in Nigeria, which led to its co-management of the first government issued Sukuk instrument launched by the Federal Government of Nigeria in 2017.

The company also partnered and organised a stakeholder engagement on Voluntary Asset and Income Declaration Scheme (VAIDS) and its implications for estate planning.

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 dipo.olowookere@businesspost.ng

Banking

Visa Sponsors Ecobank Cardholder’s Trip to Qatar for World Cup

Published

on

Ecobank cardholder

By Modupe Gbadeyanka

A customer of Ecobank Nigeria, Mr Ejike Michael Eziuche, will have the opportunity to travel to Qatar for the ongoing FIFA World Cup taking place in the country for free.

This was made possible by just being a customer of the financial institution in Nigeria and being issued a Visa card by the bank.

The Ecobank cardholder was among the winners of the payments firm’s Spend & Win Campaign, designed to reward customers and football lovers who were active users of their Visa cards.

The only condition to be part of the promo was spending a minimum of N50,000 in at least five transactions to qualify. The winners will have the opportunity of a first-class experience in the tournament, all expenses covered as Visa is the Official Payments Sponsor of the tournament.

“Mr Eziuche’s emergence as a winner is a reflection of the hassle-free payment experience our customers enjoy with their Ecobank Visa cards.

“At Ecobank, we are always innovating our services to suit our customers’ lifestyles, especially when it comes to how they can effortlessly access our products. I am truly delighted for him and wish him a memorable time in Qatar,” the Head of Consumer Banking at Ecobank Nigeria, Mrs Korede Demola-Adeniyi, commented.

“We understand our role as a leading payments provider, pioneering seamless payments experiences across Africa; this is why we partner with critical stakeholders like Visa to ensure that our customers can have cards that allow them to enjoy financial services from anywhere in the world.

“Our promise to our customers has always been the same; to provide them with access to affordable and reliable financial services.

“We will continue to do so through our digital platforms, including Ecobank Mobile App and USSD *326#, Ecobank Online, Ecobank OmniPlus, Ecobank Omnilite, EcobankPay, Ecobank RapidTransfer, ATMs, POSs and an extensive distribution network of over 250 branches and over 50,000 agency banking locations,” she added.

Ecobank Nigeria is a subsidiary of the Ecobank Group, the leading pan-African banking group with operations in 33 African countries and an international presence in four locations (London, Paris, Beijing, and Dubai).

The lender is a major player in the distribution of financial services in Nigeria, leveraging digital platforms, including Ecobank Mobile App and USSD *326#, Ecobank Online, Ecobank OmniPlus, Ecobank Omnilite, EcobankPay, Ecobank RapidTransfer, ATMs, POSs and an extensive distribution network of over 250 branches and over 60,000 agency banking locations.

Continue Reading

Banking

Sterling Bank Sponsors Training of 1,000 Youths at NJFP

Published

on

Sterling Bank

By Modupe Gbadeyanka

Sterling Bank Plc has sponsored the training of 1,000 fellows at the Nigeria Jubilee Fellows Programme (NJFP), a youth empowerment initiative between the Nigerian government and the United Nations Development Programme (UNDP).

The programme, launched in 2021, was borne out of rising unemployment and the COVID-19 pandemic, which adversely impacted the ability of young Nigerians to find work.

The initiative seeks to connect talented graduates with local job opportunities that apply their expertise while equipping them with world-class practical knowledge and relevant skills, and it does not matter if an applicant does not have job experience.

It targets a broad range of sectors, including the start-up economy, innovation, and creative industries, the digital and technology sector, the green economy sector, financial services, key public and international development institutions, research and development, agriculture, real estate, construction, transportation, and health services. In other words, there is a place for every organisation in this programme.

The Managing Director of Sterling Bank, Mr Abubakar Suleiman, explained that his company supported the programme because of its interest in the education sector as one of five sectors it is presently concentrating investments in under its HEARTs of Sterling programme. The other sectors are Health, Agriculture, Renewable Energy and Transportation.

It will be recalled that as part of its commitment to the reduction of unemployment among youths in the country, Sterling Bank Plc recently renewed its partnership with iCreate Africa to provide a payment system that allows qualified workers to purchase tools and pay in instalments.

Consequently, the bank has also introduced different packages so that skill-seekers can access soft loans to buy tools, and it is encouraging skill-seekers not to let the opportunity slip off their hands.

Also, as part of this strategy, the commercial bank had also expanded its Café One community to Abuja in partnership with iCreate.

Continue Reading

Banking

Zenith Bank Assures Budding Entrepreneurs Necessary Support to Succeed

Published

on

Budding entrepreneurs

By Aduragbemi Omiyale

Budding entrepreneurs in Nigeria have been assured by Zenith Bank Plc of all the necessary support they need to succeed and become corporate organisations capable of employing many people.

The Group Managing Director/CEO of Zenith Bank, Mr Ebenezer Onyeagwu, who gave this assurance last Wednesday, disclosed that this was why the bank organised the second Zenith Tech Fair themed Future Forward 2.0.

At the keenly contested hackathon session, the sum of N53 million was won by the participants, with Ecotutu, a cleantech company making cooling affordable and accessible for businesses, especially in the agricultural sector, emerging as the overall winner and taking home the grand prize of N20 million.

This is in addition to a mentorship programme with Seedstars, a company dedicated to implementing high-quality capacity-building programmes for entrepreneurs in emerging markets.

The first runner-up, Foris Labs, an app-based platform that allows students to conduct science experiments individually and in groups interactively via their mobile phones, won N15 million and a mentorship programme.

The second runner-up, Finva, a start-up which helps creditors offer credits at low risk, won N10 million as well as a mentorship programme.

Other finalists who took home N1 million each were Sanwo, Itinu -Ev, Eduvacity, Green Bii, Zion Robotics, Sono Care, Base, and I grow Africa.

Addressing guests at the Eko Convention Centre, Mr Onyeagwu announced that “all finalists would be enlisted into our incubation lab for grooming and mentorship.

“Our expectation is that we are going to scale and grow them just like the zenith brand. So, looking at what we have gone through, I can tell you that so much iron has been loaded on fire. The only thing left is to activate the digital talents, tech skills and entrepreneurship that would culminate in a new digital economy for Nigeria.”

Described as a huge success by participants, the two-day Tech Fair featured presentations on the leading technological innovations that cut across different aspects of life, such as Artificial Intelligence, Computing, Machine Learning, Blockchain, Robotics, Big Data, FinTech, Augmented Reality, Data Analytics, 5G and Communication Technologies, with the keynote address, The Future of Banking: Digital Transformation Journey, delivered by Brett King, the renowned futurist, bestselling author, award-winning speaker, founder of Moven and Author of Bank 4.0.

The event also featured a goodwill message by the founder and Chairman of Zenith Bank, Mr Jim Ovia.

Other eminent IT practitioners from top global brands who also made presentations included Tarik Alatovic, Senior Partner, McKinsey; Juliet Ehimuan, West Africa Director, Google; Ola Williams, Country Manager, Microsoft Inc.; Andrew Uaboi, Vice President/Head, Visa West Africa; Mrs Rakiya Mohammed, Director of Information Technology, CBN; Chris Lu, Managing Director, Huawei Technologies Nigeria, and Dame Ms Adaora Umeoji, Deputy Managing Director of Zenith Bank Plc, amongst others.

Continue Reading
%d bloggers like this: