First Bank

Tuesday, April 30, 2024

Chairman of Victoria Garden City Lagos, Mbelu found dead in his car

The incident occurred on Friday, April 26, 2024, according to the Lagos State Police Command.

The incident occurred on Friday, April 26, 2024, according to the Lagos State Police Command.

The police said the matter was reported to the command by General Manager of the Victoria Garden City Estate.

The 42-year-old was found unconscious in his C300 4Matic ash-coloured car around 10am on Friday with the ignition on and the vehicle glass rolled up around the VGC area.

Police detectives were deployed to the scene and Mbelu was rushed to Lagos University Teaching Hospital (LUTH) where he was confirmed dead.

His corpse was subsequently deposited at the hospital morgue for preservation and autopsy.

The police in the state said preliminary enquiry had commenced and further development would be made known. 

Leadership Means Always Believing in Better - CEO, Sterling Bank

Abubakar Suleiman, the Chief Executive Officer of Sterling Bank Limited, delivered an enlightening discourse on leadership during the prestigious Lagos Leadership Summit 2024, powered by the Lateef Jakande Leadership Academy, shedding light on the profound essence of effective leadership and its transformative impact on society. 

At the heart of Suleiman's message was the concept of leadership as a catalyst for change—a force that propels individuals and organizations towards a shared vision of progress and prosperity. He eloquently articulated that leadership transcends mere management; it is about inspiring others to embrace a compelling vision of the future and empowering them to contribute meaningfully toward its realization.

Friday, April 26, 2024

This robot can predict a smile before it happens

This AI-integrated robotic face can predict a smile before it happens.

It's called Emo and it can anticipate and mimic human facial expressions.

Engineers at Columbia University’s Creative Machines Lab say they believe it is a significant advance in improving interaction quality and fostering trust between humans and robots.

Fidelity Bank: Improved Share Price as Growth Indicator

When the management of the Nigerian Exchange Limited (NGX) in July 2023 announced that it was reclassifying Fidelity Bank Plc from small-price stock to medium-price stock, financial analysts concluded that the road to attaining Tier1 status by the bank is closer than ever imagined.

In full year 2022. Fidelity Bank briefly fell into the Tier 1 category and saw the highest gross earnings of N337.10 billion and profit before tax of N53.68 billion. The bank’s higher interest income relative to interest expense led to a net interest margin of 7.70 per cent, ahead of other similar banks.

Regarding its financial position, the bank had the highest total assets at N3.99 trillion in 2022. The bank’s relatively low-risk asset exposure kept non-performing loans (NPLs) at 2.90 per cent, the second lowest in the Tier 2 category ahead of Wema Bank.

Wednesday, April 24, 2024

Fidelity Bank Commends Air Peace’s Performance


Celebrates Airline For The Commencement of the Lagos-London Route

Fidelity Bank Plc has commended Air Peace’s performance since it commenced flight operations about 10 years ago.

Dr. Nneka Onyeali-Ikpe, the Managing Director, Fidelity Bank Plc gave the commendation over the weekend in Lagos during a special event organised for the airline by the bank to celebrate Air Peace for the milestone of commencement of direct flights from Lagos to London.

According to Nneka Onyeali-Ikpe, who doubled as the host at the event, the airline has upheld the principles of financial discipline and good corporate governance since inception, while it has also been very loyal to the bank.

Friday, April 19, 2024

ARISE News Channel Goes Live in South Africa, Angola, Botswana, 7 Others

 Press release

Anayo Ezugwu 

The management of ARISE News Channel has announced that the cable news network has

gone live in South Africa, Angola and Botswana, and seven other countries in Southern Africa, on Multichoice/DSTV Channel 416.

The other countries are Lesotho, Malawi, Mozambique, Namibia, Swaziland, Zambia and Zimbabwe.

Wednesday, April 17, 2024

AltBank, Sterling One Foundation, Lagos Foodbank combat hunger, champion education

The Alternative Bank Limited (AltBank) has announced a strategic collaboration with FoodBank and Sterling One Foundation to raise approximately N20 million in support of hunger alleviation and educational initiatives. This initiative aligns with the theme of the African Union Summit 2024, "Educate and Skill Africa for the 21st Century."

Tuesday, April 16, 2024

Fidelity Bank grows Profit by 131.5% in FY 2023

Lagos, Nigeria, April 16, 2024: Leading financial institution, Fidelity Bank Plc, has released its 2023 full year Audited Financial Statements, reporting a 131.5% growth in Profit Before Tax to N 124,26 billion.

According to the results, which was issued to the Nigerian Exchange (NGX) today, the bank grew Gross Earnings by 64.9% YoY to N555.83 billion, driven by 81.6% growth in Net interest income which increased from N152.7billion to N277.37 billion. This led to a Profit After Tax of N99.45 billion representing a 112.9% annual growth.

Commenting on the Bank’s commendable performance, Dr. Nneka Onyeali-Ikpe,OON, MD/CEO of Fidelity Bank Plc said, “We closed the financial year with strong double-digit growth across key income and balance-sheet lines. Our performance in 2023 is an attestation of our capacity to deliver superior returns to shareholders despite the difficulties in our operating environment. Profit before tax grew by 131.5% to N124.3bn from N53.7bn in 2022FY, leading to an increase in Return on Average Equity (RoAE) of 26.5% from 15.6% in 2022FY.”

Friday, April 12, 2024

Bobrisky sentenced To 6-Month Jail term without option of fine over Naira abuse

 Controversial cross-dresser Idris Olanrewaju Okuneye popularly known as Bobrisky has been sentenced to six months imprisonment without any option fine for abusing the Nigeria currency – naira. 

Justice Abimbola Awogboro of the Federal High Court, Lagos, in her sentence, said the judgment will serve as a deterrent to others who are fond of abusing and mutilating the naira.

Sunday, April 7, 2024

Zenith Bank Named Nigeria's Best Bank For The Fourth Year In The Last Five At Global Finance Awards 2024

Zenith Bank Plc has emerged as the Best Bank in Nigeria in the Global Finance Best Banks Awards 2024, winning the award for the fourth time since 2019. The Bank was among other banks from 36 countries in Africa recognised as the prestigious Global Finance announced its 31st Annual Best Bank Awards Winners.

The editors of Global Finance made the selections after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts worldwide. Factors considered in selecting the top banks ranged from the quantitative objective to the informed subjective. Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.

Thursday, April 4, 2024

EFCC arrest Bobrisky for Naira abuse

Operatives of the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, have commenced investigation of Idris Okuneye, a.k.a Bobrisky, for allegedly spraying Naira notes.
The  EFCC had invited the 31-year old following a video report of spraying and flaunting wads of new Naira notes at the premiere of a movie, Ajakaju, produced by Eniola Ajao, a Nollywood actress and producer, at Film One Circle Mall, Lekki, Lagos on March 24, 2024.
Investigation also revealed that he had also committed the alleged offence at some other event centres and parties at different times.
Following the invitation by the Commission, he arrived at the Lagos Zonal Command of the EFCC in the morning of Wednesday, April 4, 2024 for interrogation and volunteered his statements. 
He will soon be charged to court upon conclusion of investigations

Tuesday, April 2, 2024

Lagos State deputy commissioner of police, Gbolahan Olugbemi, found dead in his apartment

Gbolahan Olugbemi, deputy commissioner of police, found dead in his apartment

Gbolahan Olugbemi, a deputy commissioner of police, has been found dead in his apartment in Ogbomoso, Oyo state.

Olugbemi was said to have left Lagos for Ogbomoso for the Easter celebration. His body was reportedly found dangling from the roof of his living room on Monday.

Prior to his death, he was in charge of the criminal investigation department (CID), Panti, Lagos.

Banks are in good stead to meet CBN’s recapitalisation target – ACAMB

The Association of Corporate & Marketing Communication Professionals of Banks (ACAMB) has assured the banking public that banks in the country have the wherewithal to meet the Central Bank of Nigeria (CBN) recent directives on recapilitalisation of the sector.

The Association in a statement signed and released by its president, Rasheed Bolarinwa on Sunday said ACAMB had always affirmed its support for the CBN’s recapitalisation moves.

Recall that the Olayemi Cardoso-led apex bank had last week issued and released a circular on review of minimum capital requirement for commercial, merchant and non-interest banks over the next 24 months.