In a show of strong support for GTCO and move to debunk false allegations being levelled against the GTCO and its Executive Management by faceless and unqualified entities using the media, the Central Bank of Nigeria (CBN), issued a Press Release today reassuring the public that their deposits with Nigerian Banks are safe.

The Statement titled, “CBN Reaffirms Commitment to Financial System Stability, Safety of Depositors’ Funds” and signed by Ag. Director, Corporate Communications, Hakama Sidi Ali (Mrs.), begins with a firm assurance: “The Central Bank of Nigeria (CBN) wishes to reassure the public of its unwavering commitment to ensuring the stability and reliability of the Nigerian financial system.” It further stated, “The CBN recognises the crucial role that confidence plays in banking operations and wants to affirm that all deposits in Nigerian banks are secure. The CBN actively ensures that banks adhere to established regulations and best practices to maintain the integrity of our financial system. Regular stress testing is conducted to identify potential vulnerabilities, helping to ensure that our financial institutions are resilient.”

On how the Monetary Authority fulfills its oversight responsibility, ensuring system-wide monitoring of licensed Banks in Nigeria as well as their offshore operations, the Statement says, “In addition, the CBN has implemented Early Warning Systems that proactively detect and address emerging risks, allowing us to provide timely solutions to any foreseen issues. The Bank’s approach to Risk-Based Supervision ensures that it focuses its regulatory efforts on institutions that may pose the highest risk to the financial system. This targeted strategy allows it to maintain a robust oversight mechanism while promoting the overall health of the banking sector. Furthermore, the CBN has established Memoranda of Understanding with the various countries where Nigerian banks’ subsidiaries are located. This collaboration enhances regulatory coordination and ensures that our banks operate within a safe and sound framework in accordance with banking regulations, both domestically and internationally.”

In closing, the Ag. Director said, “The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds. It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial system.

…harp on the need for women to seize business initiatives

The 2024 edition of edition of the Women High Achievers Trybe (WHATRYBE) recently held at the highbrow Oriental Hotel, Lekki, Lagos on October 3, 2024 with some of the leading female entrepreneurs in Nigeria on hand to give business nuggets and ideas to the over 500 women entrepreneurs in attendance. Princess Layo Bakare Okeowo, CEO of FAE Limited and Abimbola Balogun of So Fresh Limited delivered the keynote addresses.

Key highlights of the event included:

– Panel Session 1: “Money Moves” – Etemore Glover, Sola Adesakin, and Grace Ofure discussed funding opportunities for businesses, including strategies to attract angel investors and securing financial stability for women entrepreneurs.

– Interactive Break – Attendees participated in a “Find the Clue” game, with winners walking away with exciting freebies during the tea break.

– Panel Session 2: “Brand Magnetism” – Tolulope Medebem and Dr. Olatunde Samson led discussions on the importance of creating excellent customer experiences and leveraging digital marketing for business growth.

– Grants and Prizes – Two women won grants of ₦100,000 for their businesses, and three others received free business registrations, highlighting the conference’s commitment to empowering female entrepreneurs.

– Panel Session 3: “Flame Keepers” – Mounfiq Raiyan Abu, a life sync expert, took attendees through a motivational journey, emphasizing the importance of staying aligned with one’s purpose: “Sync, not sink.” Damilola Saula, a photographer, followed with a hands-on tutorial on content creation, proving that high-quality work can be achieved without expensive equipment.

– Health Talk – Dr. Ede Edokpolo wrapped up the sessions with a health-focused discussion on managing stress and maintaining overall well-being, offering essential tips for busy women professionals.

Hosted by the charismatic Olive Emodi, the conference provided not only knowledge and inspiration but also practical tools to help women break through their challenges and build bridges to greater opportunities.

This year’s conference underscored the strength and unity of women in business and leadership, leaving attendees inspired and equipped to continue breaking barriers and building bridges in their respective fields.

The annual conference convened by fashion icon and entrepreneur; Mrs. Kiki Okewale of Hope by Kiki saw more than 500 business entrepreneurs in attendance. The event saw passionate exchanges and impactful moments as attendees explored how women can thrive in business, leadership, and personal development.

In her opening address, Mrs. Okewale charged the women to look beyond limitations and change their focus about challenges, according to her, “We all face obstacles: limited access to funding, opportunities that feel out of reach, and networks that sometimes seem exclusive. But let’s reframe how we see these challenges… When women thrive, our communities blossom.” Her words set the tone for the event, urging women to collaborate and uplift one another in business and life.

The day kicked off with a powerful meditation session led by Clinical Hypnotherapist Adeola Kingsley-James, which moved many attendees emotionally, allowing them to embrace healing and prepare for the day’s events.

The keynote address by Princess Layo Bakare Okeowo, CEO of FAE Limited, focused on “Building Generational Wealth.” She shared insights on breaking barriers and building lasting legacies, urging women to think strategically about long-term success. The other keynote address was by Abimbola Balogun of So Fresh Limited.

Key highlights of the event included:

– Panel Session 1: “Money Moves” – Etemore Glover, Sola Adesakin, and Grace Ofure discussed funding opportunities for businesses, including strategies to attract angel investors and securing financial stability for women entrepreneurs.

– Interactive Break – Attendees participated in a “Find the Clue” game, with winners walking away with exciting freebies during the tea break.

– Panel Session 2: “Brand Magnetism” – Tolulope Medebem and Dr. Olatunde Samson led discussions on the importance of creating excellent customer experiences and leveraging digital marketing for business growth.

– Grants and Prizes – Two women won grants of ₦100,000 for their businesses, and three others received free business registrations, highlighting the conference’s commitment to empowering female entrepreneurs.

– Panel Session 3: “Flame Keepers” – Mounfiq Raiyan Abu, a life sync expert, took attendees through a motivational journey, emphasizing the importance of staying aligned with one’s purpose: “Sync, not sink.” Damilola Saula, a photographer, followed with a hands-on tutorial on content creation, proving that high-quality work can be achieved without expensive equipment.

– Health Talk – Dr. Ede Edokpolo wrapped up the sessions with a health-focused discussion on managing stress and maintaining overall well-being, offering essential tips for busy women professionals.

Hosted by the charismatic Olive Emodi, the conference provided not only knowledge and inspiration but also practical tools to help women break through their challenges and build bridges to greater opportunities.

This year’s conference underscored the strength and unity of women in business and leadership, leaving attendees inspired and equipped to continue breaking barriers and building bridges in their respective fields.

The Central Bank of Nigeria (CBN) has moved to calm nerves, reassuring Nigerians that their deposits are safe in financial institutions across the country.

This comes after a recent panic sparked by warnings to withdraw deposits from certain banks whose licenses were reportedly withdrawn by the CBN.

A statement by the apex bank’s Ag. Director, Corporate Communications, Hakama Ali on Tuesday, reassured the public of its unwavering commitment to ensuring the stability and reliability of the Nigerian financial system.

This reassurance follows a fresh uproar across the country on Monday, warning customers of certain banks to immediately withdraw their deposits, as the licences of those banks had been withdrawn by the CBN.

The statement said, “The CBN actively ensures that banks adhere to established regulations and best practices to maintain the integrity of our financial system. Regular stress testing is conducted to identify potential vulnerabilities, helping to ensure that our financial institutions are resilient.”

“In addition, the CBN has implemented Early Warning Systems that proactively detect and address emerging risks, allowing us to provide timely solutions to any foreseen issues.”

“The Bank’s approach to Risk-Based Supervision ensures that it focuses its regulatory efforts on institutions that may pose the highest risk to the financial system. This targeted strategy allows it to maintain a robust oversight mechanism while promoting the overall health of the banking sector.”

Furthermore, the CBN stated that it has established Memoranda of Understanding with various countries where Nigerian banks’ subsidiaries are located.

“This collaboration enhances regulatory coordination and ensures that our banks operate within a safe and sound framework in accordance with banking regulations, both domestically and internationally.”

“The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds. It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial system,” the statement added.