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Heritage Bank Plc, Nigeria’s most innovative banking service provider, has said it would continue to partner with MultiChoice Nigeria Limited, owners of the DSTV and GOTV brands to bring the Big Brother Nigeria reality TV show to viewers across Africa and beyond.

Mr. Fela Ibidapo, Group Head, Corporate Communications of Heritage Bank disclosed this at the grand finale of the BBNaija which held over the weekend.

According to him, “we will continue to partner with Multichoice on the project because we believe in entertainment, adding that they are also interested in working with the Ex-housemates to finance Small and Medium Scale Enterprises (SMEs) for them if they could come up with a business plan.”

The third season of the reality TV show tagged: Double Wahala ended on Sunday with Miracle Igbekwe, a pilot and model winning the grand prize of N45 million out of five finalists that competed for coveted prize at the finale. The others are Cee-C, Tobi, Alex and Nina Chinoso.

The grand prize is made up of cash reward of N25 million, an SUV Jeep valued N12 million, N4.7 million to travel to international destination of choice and N3.3 million for the purchase of a complete home entertainment system.

In terms of ranking, Miracle scored 38.18 percent votes to emerge the winner, Cee-C 28.04 percent, Tobi 22.54 percent, Alex 7.07 percent while had Nina 4.18 percent.

Besides winning the grand prize, Miracle had earlier emerged winner of the season’s Payporte arena games challenge with a prize of N1 million, Pepsi Challenge N1 million and N200,000 wager allowance after picking the box tagged number two which contained the prize money.

Mr. Ebuka Obi-Uchendu, the host of the programme said a total of 170 million votes were cast for the third season while 30 million votes were recorded in the last week of the programme.

The show started on last January 28 with 20 housemates with four of them debuting in a reality show for the first time in their lives. This was an increase over 12 that participated in the season two edition.

The new comers are Nina Chinoso 21 years- old, Vanessa Williams aka Vandora from Edo State, Teddy A 29 and Kelvin Burle aka K-Brule 23 years-old.

The others are Alexandria (a lady) 22, Adedayo Adewunmi aka Dee-One, a comedian; Princess Onyejekwe 25, Miracle Igbekwe, a pilot and model; Ahneeka 25 years and a TV presenter; Rico Savey,25; Bam Bam,28 years-old freelancer in acting and singing; Bitto Brain 26, Ifu Ennanda, an actress and business broker; Leo 25 years-old corporate hustler with a retail firm;  Khloe 24 and a fashion designer; Angela 31 years-old film maker, Anto,  Tobi, Cee-C and Omololu Adetokunbo aka Lolu.

In the season two of the show, besides providing financial assistance to the BB Naija contenders, Heritage Bank helped them with business and advisory support services for between six to nine months.
This support helped to chart a veritable course and equip the Ex-housemates with the necessary tools to make informed business choices during their individuals’ careers.
In a bid to bring additional value to Nigerian culture, Heritage Bank also ensures that in partnering with the housemates, they take positive steps towards creating, preserving and transferring wealth to Nigerians.

Heritage Bank had also organised an SME enhancement capacity programme for the Ex-Housemates of the BB Naija and other emerging 21st century entrepreneurs at an SME enhancement capacity training programme.

Big Brother Nigeria was designed by its creators to attract controversies and create agenda for social discussions.

BUSINESS

NOVA Merchant Bank Rewards Excellence, Promotes One-Third of Workforce

Gbemileke Ajayi

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In fulfillment of its commitment to be the best place to work and its policy of rewarding deserving staff members, NOVA Merchant Bank has promoted about a third of its staff who have demonstrated exceptional performance in their responsibilities.

These promotions come amidst the growth in the Bank’s business as it continues to scale up its operations.

In 2018, despite the tough economic and operating climate, NOVA in its first full financial year of operations, was able to deploy a state of the art and fully digital core banking application and recorded impressive strides in customer acquisition as well as the roll out of some bespoke and innovative products.

Speaking on the recent promotions, the Managing Director/CEO of the Bank, Mr Anya Duroha, while commending the staff for their hardwork said, “The Board and Management remain committed to developing and rewarding the talent of its youthful workforce”.

“The Bank will continue to leverage the innovativeness and dynamism of its young personnel to develop innovative solutions to enable our customers thrive in the marketplace. NOVA’s ’s strategies rely heavily on the unique talents each staff brings to the table. We do not take this for granted,” he said.

The Chairman of the Board, Mr. Phillips Oduoza while congratulating the newly promoted staff expressed the Board’s satisfaction and complete confidence in the staff and management of the Bank and pledged to continue to support them as they strive to achieve their corporate goals and objectives while realising their personal aspirations.

NOVA is a newly licensed merchant bank focused on providing wholesale and investment banking services. It commenced business in 2017 and has continued to boldly execute its roll out strategies.

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BUSINESS

Zenith Bank To Intensify Presence In Retail Segment —- Amangbo

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Managing Director/Chief Executive, Zenith Bank Plc, Mr. Peter Amangbo, said that the bank is pursuing a retail strategy focussed on increased lending to small businesses, households and individuals at affordable interest rate.

He disclosed this yesterday in an exclusive interview with Vanguard Newspaper.

Noting that the sluggish loan growth in the banking industry in 2018 might persist this year due to the slow pace of economic recovery, Amangbo said that Zenith Bank has decided to focus on the retail segment to grow its loan book this year.

He stated: “We just talked about the loan volume going down in the industry but we are now looking at other areas. If the big ones are not taking loans you won’t fold your hands because those deposits that you are holding, the deposits can even sink a bank. If you take deposit and you don’t know where to deploy it, you can die in liquidity, that is what we normally say, you sink in that liquidity.

“So we are looking for other outlets. We are developing our retail end of the market and we are being very aggressive about that. We believe that is an area with a lot of potential.

We are looking at individuals, households, small businesses. We are reaching out to them with credit facilities, whether to pay school fees or to meet some obligations pending payment of their salaries or whether to develop their small businesses, we are reaching out; and about two weeks back, we had an event tagged, “Style by Zenith Bank.”

“The whole objective is to galvanise the economy to let them know that we are well positioned to serve small businesses and to serve households and individuals and even the students; that we are actually there for everybody. That is actually the stage we are moving to.

“We are not that perception that we are elitist; no, we are there for everybody, we have different offerings for everybody. So those that don’t even have security, we have ways of handling some of those things too.”

Referring to the difficulties most banks face in loan performance in the retail segment, Amangbo stated: “We try to be much more efficient in terms of how we do our business in that segment. If you are able to bring down your cost of funds, it is much easier to pass it on to our customers in terms of cost of lending to them.

And we believe if you are going to lend to the retail segment, households, small businesses and you are looking at those high rates, then you are inviting a bad loan.

“So for you to say you are going into retail, you must be sure of your cost of funds, which is what we are very mindful of, and that is why we said that deliberately we must bring down our cost of funds, which is basically what we are doing, so that it makes it much easier for us to lend in the retail space. Because the rate must be affordable, if it is not affordable from day one, you have set out to fail and to have bad loans.”

Zenith Bank has one of the lowest cost of fund in Nigeria banking industry, recording 3.3 per cent as at September 2018.

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BUSINESS

Union Bank Supports 6,000 Underprivileged Citizens During Festive Season [PHOTOS]

Gbemileke Ajayi

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Union Bank, through its UnionCaresinitiative,provided relief for thousands ofthe underprivilegedby donating over 6,000 care bags containing staple food items.

The campaign, now in its third year,is co-funded by Union Bank and its employees. The bags containing nutritional staples included rice, beans, oil, salt and readymade stews. In various parts of the country, the Bank’semployees were seen handing out the bags to people in underserved communities. 

The Bank also made financial donations to over 30 orphanages, care homes and NGOs including Wesley Schools for the Blind and Hearing impaired as well as Pacelli School for the Blind and Partially sighted children, all under its UnionCares umbrella.

The Head of Corporate Communication and Marketing at Union Bank, Ogochukwu Ekezie-Ekaidem described the initiative as one of the Bank’s ways of supporting charitable causes and contributing to the wellbeing of the needy, particularly during the festive season.

According to her;

Union Bank will continue to lead the charge for social responsibility and impact. We are firm believers in supporting the communities within which we operate. This outlook drives the initiatives we organise and support under our Corporate Social Responsibility pillars.

We launched the UnionCares initiative to touch as many lives as possible during the festive season and it is fulfilling to see the level of impact the initiative has had.”

As part of its year end welfare initiatives, Union Bank also distributed care bags to children at the Makoko Christmas party organised recently by Slum2school.

The UnionCares initiative has come to be acknowledged as a viable platform which supports the less privileged. In 2017, the Bank and its employees also donated thousands of care bags to the needy across the country during the festive season.

Union Bank recently received the ‘Peoples’ Choice Award for theMost Outstanding Company in CSR/Sustainability’ at the 2018 Sustainability, Enterprise and Responsibility Awards (SERAs), emphasizing the Bank’s role as a socially conscious organization, actively supporting its host communities.

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