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Heritage Bank Plc has continued to take the lead in empowering youths to become entrepreneurs, which is amongst others is geared to creating jobs and distributing wealth across the Nigerian economy.

Recently, Heritage bank made a “measured” entry into financing and empowering youths with the N3billion Youth Innovative Entrepreneurship Development Programme fund by the Central Bank of Nigeria, with the active participation of the National Youth Service Corps and the bank as the sole financial institution and operating vehicle for the disbursement of funds to approved beneficiaries.

The bank in a statement made available by the Group Head, Corporate Communications, Fela Ibidapo, hinted that the major objectives of the scheme was to provide a sustainable mechanism to stimulate employment, contribute to the non-oil Gross Domestic Product (GDP) as well as address the challenge of youth restiveness in the country.

According to him, it is pertinent to state that this programme is one that will run in phases and not a one-off arrangement. Again, because revolving credit is involved, it requires a painstaking process to ensure that the three institutions and beneficiaries achieve their respective objectives, which converge essentially to making soft credit available to young people and helping them translate their credible business ideas into sustainable wealth creation endeavours that are capable of generating further employment to others.

Meanwhile, he explained that the first batch of the 310 successful businesses have been approved by the CBN, as they are expected to benefit from N774million as part of the N3billion earmarked under the YIEDP.

A breakdown of the fund disbursed so far showed that only 94 successful beneficiaries who met the stipulated requirements received N251million. 191 of 310 beneficiaries yet to pick up their letters as a pre-condition were yet to assess the funds totalling N473million and 25 chose to drop out of the scheme, which amount to N54million.

On the conditions for the loans, he noted that the beneficiaries to drawn from the funds which have been deposited into their accounts they must meet the stipulated requirements amongst others; “serving youth corps member, non-NYSC (not more than 5 years post NYSC), submission of completed HB PLC -CBN CRMS Detail form (Individual), Business Registration Certification or Certificate of Incorporation, application letter.”

Ibidapo, who affirmed that the programme would have a multiplier effect on job creation and economy, urged all the beneficiaries to make judicious use of the fund.

He added that the YIEDP has the potential of becoming the stimulus for job and wealth creation, growth and economic development through improved access to finance for young entrepreneurs.

He also assured the bank would continue to provide enabling environment, devise ways and means to support the youths towards a self-reliant economy.

BUSINESS

Zenith Bank Unveils SME Digital Workshop For Business Owners, Partners Facebook [Register Here]

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Foremost financial institution, Zenith Bank Plc is organizing a free one-day session for SMEs on how Facebook, Instagram, Whatsapp, and other digital channels can be used to engage potential prospects, market offerings and grow business volumes.

To register attendance, please send an email titled ‘Zenith Bank SME Digital Workshop’ to [email protected]

The email should contain the following information: Name of the participant, account number and preferred venue of attendance

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BUSINESS

NOVA Merchant Bank Appointed By The Nigeria Customs Service As A Duty Collecting Bank

Gbemileke Ajayi

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In fulfillment of its commitment to constantly find new ways to serve its customers better, NOVA Merchant Bank has been appointed as a designated collecting bank for Import, Excise and other duties by the Nigeria Customs Service. This will enable the Bank to handle duty payments for its clients in addition to processing and issue custom bonds along with guarantees on their behalf.

According to the MD/CEO, Mr. Anya Duroha, “We are excited about this appointment because it would enhance efficiency and improve turnaround time for duty payments and other services offered by the Nigerian Customs Service for our clients”.

“This development is in line with the commitment of the Bank to be a one-stop solution shop for all trade and financial needs of its clients. The Bank is positioned to provide end to end quality banking services to our clients. I commend the management for obtaining and delivering on this mandate within a short period of time” stated the Chairman, Mr Phillips Oduoza.

NOVA Merchant Bank offers an integrated suite of financial solutions covering Wholesale Banking, Investment Banking, Asset Management, Wealth Management, Trade Services, Transaction Banking, Cash Management, and Digital Banking.

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BUSINESS

GAIM 4 DRAWS: 13 New Millionaires Emerge In Fidelity Bank’s Savings Promo, Begin 2020 On A Happy Note

Gbemileke Ajayi

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Thirteen lucky customers of Fidelity Bank Plc have started the new year on a strong note having emerged millionaires in the third monthly draw of the Get Alert in Millions (GAIM) promo season 4 in Lagos on Tuesday. The bank also rewarded loyal customers with cash prizes worth N16 million in the categories of N2 million and N1 million respectively.

The electronic raffle draw, which was held at the bank’s Broad Street Branch, Lagos Island was witnessed by the relevant regulatory bodies including the National Lottery Regulatory Commission (NLRC), Lagos State Lotteries Board (LSLB) and Consumer Protection Council (CPC). Lucky customers who emerged winners in the draw cut across all regions of the country.

The winners include Dare Abiodun Emmanuel; Ugwu Philomena Nneka; Chinenye Catherine Olunna; Egberi Agbarha Kelvin; Ivang Stanley Oham; Chinelo Loveth Egbuchunem; Dare Abiodun Emmanuel; Itabiyi Gbolahan Olakunle Hassan & Adejoke Jokotade; Larei Chindo; Chigozie Darlington Emoka; Khadijah Umar; Muazzam Ad Maizare; Isabella Chekwube Uche; Omolade Bamitale Olatawura.

Others are Joseph James Abah; Oghenetega Emmanuel Erus; Blessing Chidinma Okafor; Loveline Uche Okonkwo; Nafisat Ali Lawal; Comfort Ita Asuquo; Mohammed Halima Sadiya, amongst others. The bank doled out 19 consolation prizes in form of fridges, television sets and power generating sets.

Speaking during the event, Managing Director/CEO, Nnamdi Okonkwo, noted it is the bank’s 9th promo in 12 years whilst adding that a total of N16 million and 19 consolation prizes will be given out at the third draw. Okonkwo who was represented by the Executive Director, Shared Services and Products, Chijioke Ugochukwu, further added that the draw will see a total of N50 million in cash and 54 consolation prizes to over 93 winners.

“We would have given out a total of N50 million in cash and 54 consolation prizes to over 93 winners. We expect more winners to emerge at subsequent draws because the promo is still on and in addition to the N50 million that we will be giving out, we still have N70 million and several consolation prizes yet to be won”, he said.

Shedding light on how people can qualify for the draw, Head, Savings Group, Fidelity Bank Plc, Janet Nnabuko, stated that both existing and new customers can win by simply topping their account with N10,000 for existing customers or someone opening a new account and building it up to N20,000.

She further disclosed that to qualify for the star prize of N3 million one needs to build his account to N50,000 while aspiring for the grand prize of N10 million, one only has to grow his account to N200,000.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 5 million customers that are serviced across its 250 business offices and various digital banking channels. The bank focuses on select niche corporate banking sectors as well as Micro Small and Medium Enterprises (MSMEs) and its currently driving its retail banking businesses through its robust digital banking channels.

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