Connect with us

/">

BUSINESS

How To Prevent Unauthorised Transactions On Your Zenith Card Or Token If Stolen [MUST READ]

Avatar

Published

on

Has your mobile phone, Zenith Bank Card or Token been stolen or misplaced?

You can prevent any unauthorized transactions on your account by simply dialing 966911#.

BUSINESS

Heritage Bank, CBN Drive Improved Investment Outcomes, Job Creation

Gbemileke Ajayi

Published

on




Heritage Bank Plc in collaboration with the Central Bank of Nigeria (CBN), under the Nigerian Incentive-Based Risk Sharing in Agricultural Lending (NIRSAL), has continued to drive improved investment outcomes and job creation.

Through this partnership, Heritage Bank is not relenting in its efforts at boosting the agriculture base of the nation to make farming profitable to stakeholders and attractive to the youth.

Recently, the apex bank approved the disbursement of about N75billion as a loan to farmers in the 36 states and the Federal Capital Territory (FCT) under the Nigerian Incentive-Based Risk Sharing in Agricultural Lending (NIRSAL).

The loan guarantee scheme is a public-private sector initiative set up to transform the country’s agricultural sector. It was initiated by the CBN, the Bankers’ Committee, and the Federal Ministry of Agriculture and Rural Development, to guarantee 75 percent loans provided by Deposit Money Banks (DPB) to farmers as part of efforts to transform the country’s agricultural sector.

Speaking on the several CBN intervention scheme and private sectors’ partnerships, which have accumulated to thousands of job creations, the MD/CEO, Heritage Bank, Ifie Sekibo, noted, “under the Central Bank of Nigeria’s Anchor Borrowers Programme (ABP) and the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), Heritage Bank is positioned to provide on-lending funding to aggregated farmers in the 2020 farming season to grow various products that will serve as raw materials to the processors, thereby ensuring market linkages and access to the market as well as reduce importation and conserve Nigeria’s external reserves.”

According to him, Heritage Bank is also supporting the drive for cash crop commodities that would boost Nigeria’s foreign exchange earnings, which President Mohammad Buhari’s administration has always been cautious given the dangers the continuous reliance on imported food items pose to its efforts to create jobs as well as develop and diversify the economy.

No doubt Heritage Bank’s unswerving lending to the agriculture sector has earned it a deluge of accolades.

To its portfolio Heritage Bank Plc earned Nigeria’s Most Innovative Banking Service Provider in 2017 and 2018 that were bestowed with the inaugural Nigeria Sustainable Banking Award convened by the CBN “For Sustainable Transaction of The Year in Agriculture.”

The Nigeria Agriculture Awards (NAA), at its annual event convened by AgroNigeria (The Voice of Nigeria’s Agriculture), to appreciate immense efforts of those who have contributed to the success of the agriculture sector in the country, announced Heritage Bank as the Agric. Bank of the Year.

According to NAA, Heritage Bank was selected in recognition of its footprints in the Agric. space, especially the Triton Aquaculture Project.

Also, Heritage Bank Plc which has been adjudged the lead settlement bank for Gezawa Commodity Market (GCMX), has collaborated with key stakeholders to revolutionize the agricultural value-chain.

The collaboration was aimed at providing a fully integrated ecosystem for commodity Exchange.

Heritage Bank was appointed the Lead Settlement Bank and Transaction Adviser to GCMX and a memorandum of understanding (MoU) was signed between the two firms, whilst over 10, 000 farmers in 3000 cooperatives in the 44 local governments of Kano States were hosted.

The partnership between Heritage Bank and the Exchange has continued to facilitate the ease of agro commodity trading in a more structured way, especially with the closeness to the Dawanu, the largest grain market in Africa.




Continue Reading

BUSINESS

UBA Provides $200 Million For Nigeria’s Petroleum Industry – Timely Financing For Post COVID Economic Growth

Gbemileke Ajayi

Published

on




The United Bank for Africa Plc (UBA), the leading pan-African financial services group, has acted as Facility Agent Bank for the Nigerian Commercial Banks in a consortium with other international banks in a $1.5 Billion Pre-Export Finance Facility for the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC).

UBA is providing $200 million (Naira equivalent) to support investment growth and liquidity requirements. The facility will provide much needed capital for investment in NNPC’s production capacity, which is of strategic importance to the Nigerian economy and the country’s leading source of foreign exchange earnings. UBA’s position as Facility Agent Bank recognises the Group’s strength in structuring and deploying financing to the oil and gas sector, and the depth and liquidity of the Group’s balance sheet.

The $1.5 billion facility is structured in two tranches. The first tranche of $1 billion, to be repaid over a period of five years, will be provided in dollars. The second tranche of $500 million, will be provided in local currency, over seven years, with UBA acting as Facility Agent Bank, providing $200 million in Naira equivalent. Both facilities will be repaid from an allocation of 30,000 barrels per day of NPDC’s crude oil.

UBA has a strong track record in the resources sector across Africa, having facilitated oil prepayment deals with the NNPC, including its 2013 $100 million participation in the PXF Funding Limited transaction, and a further $60 million in the 2015 Phoenix Export Funding Limited transaction. In Senegal, UBA was responsible for the EUR 240m Revolving Crude Oil Financing Facility for the Société Africaine de Raffinage and in Congo Brazzaville co-funded the $250m crude oil prepayment facility for Orion Oil Limited.

Other participants in the NNPC deal include Standard Chartered Bank, Afrexim Bank, Union Bank and two oil trading companies, Vitol and Matrix.

Speaking on this most recent support for the Nigeria’s petroleum industry, UBA Group Chairman, Tony O. Elumelu stated ‘This has been one of the most economically challenging years that Nigeria has witnessed. With the sharp drop in the price of oil and the ensuing hardship that followed the onset of the Covid-19 pandemic, the private sector must come together and contribute meaningfully to the economy. This facility is clear evidence of this – UBA is providing investment that will significantly improve Nigeria’s production capacity and in doing so also demonstrating the strength, depth, and sophistication of our commercial banking capability. I believe that together, working with governments, we can create more jobs and more wealth for people, not only in Nigeria, but across Africa’.

The United Bank for Africa is one of the largest employers in the financial sector on the African continent, with over 20,000 employees and serving over 20 million customers. UBA operates in 20 African countries and globally in the United Kingdom, the United States of America and France, providing retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.




Continue Reading

BIG STORY

Zenith Bank Rewards Customers With Massive Giveaways In ‘Zenith BETA LIFE’ Promo [DETAILS]

Avatar

Published

on




Zenith Bank Plc, Nigeria’s leading financial institution, has commenced its “Zenith Beta Life” Promo to reward customers of the Bank with gifts every week starting from 31st July 2020 to 30th July 2021.

During this period, fifty (50) customers will be selected via raffle draw each week and rewarded with gifts worth NGN30,000.

The Promo is open to existing and new Zenith Bank customers with the following raffle qualifying criteria:

– maintain a minimum deposit of NGN5,000 for the period;

– request and collect a Zenith Bank Card; and

– download and register on the Zenith Mobile App or register for *966# EazyBanking.




Continue Reading




JoIn Us On Facebook


Live COVID-19 statistics for
World
Confirmed
20,903,971
Recovered
12,991,272
Deaths
755,551
Last updated: 6 minutes ago






Most Popular

COVID-19 LIVE UPDATE

BE SAFE, STAY AT HOME