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UBA Academy Gets CIBN Accreditation for Excellence in Training, Capacity Building

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In recognition of its high standard, quality of human resources development, training and capacity building, The Chartered Institute of Bankers of Nigeria(CIBN) has certified and awarded UBA Academy the certificate of accreditation in line with the Central Bank of Nigeria’s Competency Framework for the banking industry .

UBA Academy, the dedicated learning and development centre of the Pan African financial institution, United Bank for Africa (UBA) Plc, was accorded the new recognition of excellence at a ceremony presided over by the President/Chairman of Council of the institute, Dr. Uche Olowu in Lagos on Thursday.

According to the president of the institute, UBA Academy was conferred with the new status having met the rigorous standards set for the delivery of their suites of programmes by the Institute.

The certification follows rigorous assessment exercise carried out by the institute’s Capacity Building Committee, the accreditation agency under the competency framework for the country’s banking and finance industry instituted by the Central Bank of Nigeria.

“This Accreditation is an affirmation that UBA Academy has adopted and complied with the minimum assessment standards for programmes run by the organisation, which have gained a label of recognition and distinction,” Olowu said.

According to him the accreditation of UBA Academy would enable its graduates to be eligible for exemptions from various subjects in the banking professional examinations thereby facilitating their completion of the Chartered Banker examination. “This will not only enable them comply with the provisions of the Competency Framework for the banking industry, it will go a long way in the strengthening of the intellectual resources and capabilities available in their institutions,” he concluded.

Speaking at the ceremony, the Bank’s Group Head Human Resources, Mrs Patricia Aderibigbe, while appreciating the recognition conferred on the UBA Academy, said the academy has already embarked on training for the future with digitisation of its training programmes and modules.

“With Ignite, UBA has taken training into the future as we believe that the only way to get the best results and continually stay ahead of the curve is to continually sharpen our most important asset – our people, using mobile technology,” Aderibigbe said.

Aderibigbe promised that UBA Academy will continuously seek improvement in ensuring that it serves the needs of industry in a changing banking industry.

BIG STORY

Despite BVN, NIN, FG Orders Nigerians To Re-Register Their Details Or Lose Access To Bank Accounts

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The Federal Government has ordered all account holders in the country’s financial institutions to register their details again.

The order was given despite the possession of the Bank Verification Number and the National Identification Number by account holders.

This new order was disclosed by the government on its Twitter account, @NigeriaGov, on Thursday.

It said, “This is to notify the general public that all account holders in financial institutions (banks, insurance companies, etc) are required to obtain, complete and submit self-certification forms to their respective financial institutions.

“Persons holding accounts in different financial institutions are required to complete and submit the form to each one of the institutions.

“The forms are required by the relevant financial institutions to carry out due diligence procedures in line with the Income Tax Regulations 2019.

“The self-certification form is in three categories: Form for the entity – for controlling person (individuals having controlling interest in a legal person, trustee, etc) – Form for the individual.

“Failure to comply with the requirement to administer or execute this form attracts sanctions, which may include monetary penalty or inability to operate the account.”

The government, however, did not give more explanation on this order.




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BIG STORY

Naira Exchanges N460 To Dollar On Parallel Market

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The naira on Monday fell by 1.09 percent to N460 on the parallel market. The naira decline followed President Muhammadu‘s directive to the Central Bank of Nigeria (CBN) to stop dollar sales for food and fertilizer imports.

On the official market supported by the CBN, the naira traded at N381 to the dollar, while it was quoted at N385.83 naira on the spot market yesterday.

Buhari last Thursday directed the CBN to stop selling foreign exchange for those imports, similar to an order issued last year.

Nigeria faces its worst economic crisis in four decades triggered by an oil price crash induced by the novel coronavirus pandemic. The crisis has slashed government revenue, weakened the currency, and created a large financing gap for the economy.

A trader attributed the high dollar demand in the parallel market to importers who have to make payments to bring in goods for end-of-year sales.

The naira had firmed sharply two weeks ago on the parallel market after the CBN resumed dollar sales to individuals and investors to clear their demand.

But sales have not been enough, traders say, with pressure piling up on the currency. Nigeria has spent 16.6 percent of its dollar reserve from last year to $35.77 billion.

Dollar liquidity dried up on the spot market after foreign investors dumped Nigerian assets following the oil price crash. However, CBN’s forex sales have also been inadequate.




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BUSINESS

Heritage Bank, FAMO Provide Succor For 300 Private School Teachers, SMEs

Gbemileke Ajayi

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As part of efforts to cushion the effects of the COVID-19 on the education sector, Heritage Bank Plc in partnership with Honourable Fatima Mohammed (FAMO) foundation has provided succor to over 300 affected private school teachers and small-medium enterprises (SMEs).

The challenges posed by the COVID-19 pandemic, have continued in the shutdown of schools for months leaving the private school teachers without any means of livelihood and no source of income.

To this effect, in alleviating the challenges, Heritage Bank and its partner supported over 300 Private School Teachers and small businesses as palliatives in 15 local governments; including five major markets in Ojokoro Local Council Development Area of Ifako Ijaiye, in Lagos State, weekend.

Speaking at the event, Mother Dan-Egwu, Group Head, Education, NGO & Faith Groups, Lagos Mainland Zone of the bank, stated that as an educational-friendly financial institution, Heritage Bank appreciates the socio-economic role the sector plays in the country.

According to her, Heritage Bank deemed it necessary to partner FAMO to champion the corporate social responsibility of the bank in supporting private school teachers and small businesses out of hardship and the quagmire plunged into nationwide by the pandemic.

She further explained to journalists that Heritage Bank and the Foundation seek to help teachers in phases.

Dan-Egwu said that this phase will comprise of 300 teachers who will get food items and cash worth Ten Thousand Naira (N10, 000) each.

On the mood of selection adopted, she stated that FAMO selected the teachers based on the regions, as the first phase comprised of 300 teachers and SMEs in the South West (Lagos) would be assisted and the poorest of the poor were the main target through the help of National Association of Private School Teachers (NAPST) to identify those teachers in direst need of the assistance.

She, however, disclosed Heritage Bank’s strategy to provide basic palliative care to the educational system at the resumption of academic activities in schools.

According to her, the bank has three areas of basic supports in providing mentorship program for schools, school portal, and school health plans in partnership with Health Maintenance Organisations (HMOs).

She further explained that support programs churned out by the bank are designed to instill value and keep students focused on making the best of their lives through corporate models, help school authorities to manage operations, and steer them into moving the educational system to the new digital era; where teachers can use technology in classroom management, administration, engagement with parents.

For the school health plan, Dan-Egwu hinted Heritage Bank would help to provide a very affordable health plan to ensure that every member of the school community is covered medically, as this will reduce the anxiety amongst teachers, parents, and school authorities.

In her address, the Convener of FAMO, Honourable Mohammed, commended Heritage Bank for its bold steps in joining hand-in-hand to support the challenged private school teachers, SMEs sectors, and the roles the bank plays in championing CSR in the country.

Mohammed stated that the primary aim was basically to cushion the effect of poverty especially as it concerns the private school teachers.

“The private school teachers because of the pandemic haven’t been paid for 6months and there are a lot of such cases around here. Ifako-Ijaye is the second-largest LGA in Lagos State; therefore, it is time to reach out to the people. During the pandemic, we have reached out to them about 2 to 3 times. I reached out to Heritage Bank and they heard my voice just to partner with us with my palliative team just to cushion the effect,” she said.
Meanwhile, for the SME owners, she further stated that additional plans have been agreed upon with the Agency Banking Unit of Heritage Bank to empower them to function as agents in this space.

She also commended Heritage Bank as a youth-friendly bank for their numerous supports to young Nigerians in helping to promote their businesses and dreams.




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