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Sekibo, Obi, others harp on security, leadership for economic prosperity

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L-R: Prof. Oyelowo Oyewo; Coordinator of the Nigerian Association of Constitutional Law (NACL); Dr. Oruene Finebone – Secretary, Mediacal Women Association of Nigeria, Rivers State Branch; Barrister Sotonye Inyeinengi-Etomi, President of the Men’s League of Christ Church Port Harcourt; Very Rev. (Dr), Ivan Ekong, Asst. Resident Minister, Christ Church Port Harcourt; Figbene Briggs, Regional Head, South South 1 & 2 Zone; Dr. (Amb.) Victoria Ekhomu, Group MD/CEO of Trans-World Security Systems Ltd.; Very Rev. Jonathan Udofia; Pastor Ituah Ighodalo, Trinity House, International Christian Worship Center; Elder (Engr.) Stanford Tassie and Alabo (Arc) Duboye Donald Graham-Douglas, during the 2nd Edition 2022 Forum, one-day International Colloquium organized by The Men’s League of Christ Church Port Harcourt, tagged, “What do Nigerians Want?”, held in Port Harcourt.

The MD/CEO of Heritage Bank Plc, Ifie Sekibo and other notable Nigerians have

affirmed that the apt way to boost economic prosperity and peace in the country is to

start addressing leadership challenges and insecurity.

Sekibo and other notable Nigerians like the Presidential aspirant of Labour Party, Peter

Obi, Pastor Ituah Ighodalo, Prof. Oyelowo Oyewo, Dr. Victoria Ekhomu and Barrister

Sotonye Inyeinengi-Etomi, during the 2nd Edition 2022 Forum, one-day International

Colloquium organized by The Men’s League of Christ Church Port Harcourt, tagged,

“What do Nigerians Want?”, extensively brainstormed on the kind of leadership the

country needs and how to rescue the country from its current debacle.

Speaking on the topic, “The Economy Nigeria Needs to Break Forth,” Sekibo stressed

that of important to achieving the transformation the country needs, there was urgent

need to address insecurity, which according to him, is the foundation of prosperity, as

no nation can achieve much where the is no peace.

Sekibo, represented by the Divisional Head, Strategy & Business Solutions, Segun

Akanji emphasized that for security purposes, there must be an established functional

and value adding identity system in place.

“On a higher note, I think one of the things that we need to achieve as a country is the

issue of functional and value adding identity management, which is still far away from us,

although, some people know that we have BVN, NIMC and a few other identity capture

systems but they have not been as functional and value adding, like the social security

number that most people in advanced economies carry,” he stated.

Sekibo further explained that to achieve a prosperous economy, Nigeria needs to find

ways and means by policies to build dual circulation economy which thrives on three

pillars.

According to him, we need to focus on building dual circulation economy where we can

expand domestic production and demand by making sure that the masses are

employed.

“We need to make our people are productive and stop putting subsidy in unproductive

zones. When you give subsidy to people with inadequate or no income, they really

cannot add value to the economy, and money has a way of flowing away due to import

of consumables from other countries and because of this, a larger portion of every

consumption or cash given as subsidy gets out of the country,” said Sekibo.

The bank’s helmsman further explained that to expand the domestic production,

government must give the private sector support to drive employment creation,

technology, which is riding on innovation and manufacturing must be in place and, the

population which is an added advantage must be well educated.

He highlighted the need to examine how the country could add value to primary

production for global export, emphasizing on reduction of over dependence on foreign

markets but rather increase local production for export, whilst also increasing demand

on local products.

Sekibo further affirmed that if states could function as proper federating units

and take the lead of the competitive comparative advantages therein, wealth creation

would be achieved that would bring about the desired changes.

The former governor of Anambra state and presidential aspirant, Peter Obi lamented

the huge indebtedness of the country, which he blamed on unproductivity due to the

inimical situation of high unemployment rate resulting to over 80million Nigerians being

jobless.

He blamed the cumulative failure of government over the years on insecurity, failure to

migrate from sharing formula to production formula and lack of will to transform the

power sector and the need to focus and support the micro, small and medium

enterprises (MSMEs).

In his paper titled, “The President Nigeria Needs”, Pastor Ighodalo harped on the need

for leadership change.

He argued that what the country needs now are leaders who have vision and are ready

to sacrifice for the common man, stating, “things must be done differently”.

Ighodalo believed leadership remains the bane of Nigeria’s transformation, stressing that once we get good leadership other things will fall in place.

Prof. Oyewo while speaking on the topic “Restructuring and True Federalism” was of

the view that some responsibilities need to be decentralized like the police, power

provision and railway.

Once there is decentralization, he believes that the state will have less dependence on

the centre, “rebalancing of the constitution in terms of power and security. So, there is

reason for state police.”

Oyewo maintained that regions are closer to the people, thus it will boost security, the

economy and sense of belonging by the populace.

He also identified data and planning as key factors in ensuring that programmes are tailored towards the people.

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FIRSTBANK MARKS SIGNIFICANT MILESTONE: ₦1 TRILLION IN INSTANT DIGITAL LOAN DISBURSEMENTS

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 FirstBank, a leading financial institution and provider of financial inclusion services in West Africa, announces the achievement of ₦1 trillion in cumulative instant digital loan disbursements. This accomplishment further consolidates the Bank’s reputation for innovation, leadership in financial inclusion, and commitment to customer empowerment within.

Since its inaugural digital loan in August 2019, FirstBank has developed an unconventional and robust digital lending ecosystem designed with Artificial Intelligence and Machine Learning, to improve access to finance, especially to the high-risk customer segment. The Bank created a multi- channel loan disbursement service that requires no collaterals, zero documentation and is void of human interactions. Through its FirstAdvance, FirstCredit and AgentCredit products, 1.5 million unique borrowers enjoyed instant and secure access to credit. This is irrespective of whether they are salary earners, non-salary earners, or micro business owners. They also have the convenient options of accessing these loans through platforms such as *894# (FirstBank’s USSD service), FirstMobile, LitApp and the FirstMonie Agent App.

Regarding this milestone, Chuma Ezirim, Group Executive, e-Business & Retail Products at FirstBank, stated: “This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values. Beyond achieving substantial figures, we remain dedicated to fostering opportunities for financial independence across Nigeria in particular, and in Africa at large.’’

He added, “We value the trust our customers place in us to support their financial aspirations. Our efforts to advance digital lending will persist, especially to the excluded and underserved customer segments, while effectively managing risks in the process.”

FirstBank currently disburses about N1 Billion daily in digital loans, demonstrating its commitment to fostering an inclusive, technology-driven future for Nigerians. By consistently investing in advanced technologies and developing customised financial solutions, the Bank seeks to improve the financial well-being of individuals and businesses across the nation.

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FIRSTBANK PARTNERS UNGC TO DRIVE SUSTAINABLE FINANCE AND UNLOCK CAPITAL FOR DEVELOPMENT

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FirstBank, the West Africa premier financial institution and financial inclusion services provider, has strengthened its partnership with the United Nations Global Compact (UNGC) to reaffirm its commitment to driving sustainable finance and unlocking capital for development. This ongoing partnership was reinforced at the recently concluded Fourth International Conference on Financing for Development (FfD4) hosted by the United Nations Department of Economic and Social Affairs (UN DESA) in Seville, Spain.

 The FfD4 Conference brought together global leaders, policymakers, and private sector experts to discuss innovative solutions to address the growing SDG financing gap and unlock capital for development in fragile and underserved regions.

FirstBank’s Chief Risk Officer, Patrick Akhidenor, represented the bank at the conference and highlighted two FirstBank flagship initiatives driving resilience finance in Nigeria: The Solar Equipment Financing initiative and the revamped FirstGem Fund. The Solar Equipment Financing initiative offers tailored financing options for the purchase and installation of solar power systems, ensuring access to clean, reliable, and affordable energy solutions. The FirstGem Fund, a women-focused proposition, provides single-digit interest loans to women entrepreneurs without collateral requirements, targeting funding gaps in critical sectors.

‘’We are committed to driving sustainable finance and unlocking capital for development,” said Patrick Akhidenor. “Our partnership with UNGC and participation in the FfD4 Conference demonstrate our dedication to innovative finance solutions that address the SDG financing gap.”

Sanda Ojambo, CEO of UNGC, emphasized the need for innovative, inclusive financial models for underserved regions. “The private sector must play a central role in shaping fit-for-purpose, scalable finance solutions,” she said. “De-risking tools and blended finance can help unlock capital and drive meaningful impact.

FirstBank’s partnership with Development Finance Institutions (DFIs) and its SMEConnect hub demonstrate its capacity to lead efforts in sustainable finance. The bank provides training, networking, and tailored financing to SMEs across various sectors, including education, healthcare, and retail

 

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Access Holdings Reaffirms Strategic Growth Plan from Expansion to Optimisation

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Access Holdings PLC, the parent company of Access
Bank, has reaffirmed its long-term strategic blueprint anchored on a deliberate and
structured progression: scale, optimise, and sustain.
This roadmap, which has driven the Group’s aggressive expansion across Africa and
into key global markets, is now entering a crucial optimisation phase, expected to unlock
significant value for stakeholders as the organisation heads toward 2027.
Speaking on the strategy, Bolaji Agbede, Acting Group Chief Executive Officer, noted:
“Our approach has always been clear: scale first through strategic expansion, then
optimise through consolidation, synergy realisation, and operational efficiency. During
the scale-up phase, a considerable amount of funding is required to drive investments in
people, systems, infrastructure, and acquisitions.
“But as we move deeper into the optimisation phase, we will begin to see the full benefits
manifest, especially in terms of profitability, capital efficiency, and shareholder returns.”
Access Holdings’ five-year strategic plan, which runs through to 2027, also places
financial inclusion and impact at the core of its growth agenda. By expanding digital
access and scaling low-cost delivery platforms, the Group aims to onboard millions of
previously unbanked and underserved individuals and MSMEs across Africa into the
formal financial system. This is part of a broader strategy to enhance intra-Africa trade,
empower smallholder businesses, and strengthen the value chain across key sectors
including agriculture, commerce, and manufacturing.
The Full Year 2024 financial results demonstrate that the Group’s investments are
already yielding meaningful outcomes. Gross earnings rose to N4.878 trillion from
₦2.594 trillion in 2023, while profit before tax increased by 19% to N867.0 billion. Total
assets surged by 55.5% to N41.498 trillion, reinforcing Access Holdings’ position as one
of Africa’s most formidable financial services institutions.
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