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Ecobank Reiterates Commitment To Help Adire Industry Leverage AfCFTA…

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Ecobank Reiterates Commitment To Help Adire Industry Leverage AfCFTA…

Ecobank Reiterates Commitment To Help Adire Industry Leverage AfCFTA…

 

… Gets Commendation from Ogun State Government

Ecobank Nigeria has restated its commitment to ensure that Nigeria’s Adire industry leverages the potential of the African Continental Free Trade Agreement (AfCFTA).

Speaking at the third edition of the annual Ecobank ‘Adire Lagos Experience’ in Lagos, the Executive Director, Commercial Banking, Ecobank Nigeria, Kola Adeleke, said the bank is committed to helping businesses exhibiting at the fair explore opportunities available through the Africa trade pact.

The event which is holding at the ultra-modern Ecobank Pan African Centre (EPAC), has seen over 100 exhibitors showcase locally processed adire attires made by indigenous designers.

“After the program, these 100 merchants, we are going to continue partnering with them. We are going to support them to build capacity. We are going to even use the opportunity for them to improve the quality of whatever they are producing for export purposes. Because ultimately, our goal is to ensure that Adire becomes like an African brand with global acclaim.
“This is very unique for us as an organization because it will help to grow our nation’s economy as we see the export potential there. We are going to profile all these merchants on the Ecobank single market trade hub and then position them so that they will be able to export their products to other countries in Africa and beyond, “he said.

Mr. Kola noted that Adire Lagos’ exhibition is part of the efforts of the bank to support and project the creative industry in the country, adding that as part of a Pan African bank which operates in 33 countries of Africa, Ecobank Nigeria will always look out to support various productive initiatives and the Adire exhibition fits into this goal.

Ecobank Reiterates Commitment To Help Adire Industry Leverage AfCFTA…

(L-R) Kola Adeleke, Executive Director, Commercial Banking, Ecobank Nigeria; Bimbola Wright, Director, Ecobank Nigeria; Emmanuel Ikazoboh, Former Chairman, Ecobank Transnational Inc.; Carol Oyedeji, Deputy Managing Director; Dr. Adesegun Akin-Olugbade, OON, Chairman, Luwaji Advisory & Former General Counsel, AFC & ADB.; Titi Olujobi, Director, Ecobank Nigeria; and Kenneth Okere, Company Secretary, Ecobank Nigeria at the Ecobank Adire Exhibition in Lagos.
Meanwhile, the Commissioner for Culture and Tourism, Ogun State, Dr. Fagbayi Oluwasesan, has commended Ecobank for promoting Adire culture to help improve the sector.

 

Speaking during his visit to the fair, Fagbayi, said: “The fabric is synonymous to Ogun state. We are the custodians of Adire. It is an indigenous textile from Ogun State and we have to protect it. That’s why we are happy with Ecobank for what they’re doing today, assisting us to showcase what God has given to us, protecting it, and also telling the world that this is what is good for us to be using as fabric.”

He also said that the Ogun State government has commenced measures to address the challenge of imported adulterated Adire fabric, which poses a major threat to the local Adire industry.

“The State House of Assembly have commenced steps, through our ministry, to curb the excesses or inflow of Chinese adulterated fabric.

“First and foremost, we don’t need to address it as ‘Adire Chinese’. It is never Adire because it is a print on its own that doesn’t pass through the process of how the fabric is made. The original fabric is made manually, and it passes through nine stages before it is made.
“We are working on that and a committee has been set up with the approval of the Governor that they should go to the market, you know, look at what we can do and come up with a law, probably, though we may not have the capacity to ban it outrightly.
“We’re also taking it up with the National Assembly; the Representative Abeokuta South Federal Constituency has also raised a Bill at the National Assembly that has passed its second reading now. By the time that is done probably we will have the backing of the federal government in banning this adulterated fabric out rightly.”

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Zenith Bank Capital Markets Day

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Zenith Bank Capital Markets Day

 

Highlights from the Zenith Bank Capital Markets Day held earlier today with the Founder & Chairman of Zenith Bank PLC Dr. Jim Ovia CFR, Dame Dr. Adaora Umeoji OON, GMD/CEO of Zenith Bank PLC, Executive Directors of the Bank; Dr. Henry Oroh, Dr. (Mrs) Adobi Nwapa, Mr. Akin Ogunranti, Mr. Lawani Adamu, Mr. Louis Odom; the Bank’s Chief Finance Officer Dr. Mukhtar Adam (PhD); the General Manager/Group Head Investor Relations & Corporate Development Mrs. Rolake Akinkugbe-Filani; existing and potential investors, analysts, stockmarket players, asset managers, customers and other members of the Senior Management Team of the Bank.

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GTCO Offers 9 Billion Shares At ₦44.50 Each, Envisions One Billion Dollar Profit

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GTCO Offers 9 Billion Shares At ₦44.50 Each, Envisions One Billion Dollar Profit

GTCO Offers 9 Billion Shares At ₦44.50 Each, Envisions One Billion Dollar Profit

 

Guaranty Trust Holding Company (GTCO), one of Nigeria’s largest lenders, is raising ₦400 billion in capital through a public offer anchored on the Nigerian Exchange Group (NGX).

The company is offering 9 billion shares at ₦44.50 each, with plans to invest the additional capital in profitable ventures in West Africa and East Africa, as well as recapitalize GTBank Nigeria, expand its asset management and pension businesses, and grow its loan portfolio.

According to Group CEO Segun Agbaje, GTCO has a track record of delivering strong returns, with a 29% average return on equity (RoAE) over the past ten years and a 253% return on investment over the same period.

The company has also made significant inroads into non-banking businesses, including fintech, asset management, and pension management, with plans to generate 5% of group profit from these businesses within three years.

Agbaje, in a “fact behind the offer” presentation at the NGX on monday, gave stakeholders compelling reasons to embrace the offer. He promised to soon make GTCO the first Nigerian company to realise a billion dollar profit.

He welcome the CBN directive to banks in Nigeria to upscale their capital threshold, following adverse economic headwinds that have seen continuous erosion of assets noting that GTCO already had plans to raise fresh capital months before thedirective.

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Zenith Bank Wins Best Commercial Bank In Nigeria And Best Corporate Governance Awards At World Finance 2024 Awards

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Zenith Bank Wins Best Commercial Bank In Nigeria And Best Corporate Governance Awards At World Finance 2024 Awards

Zenith Bank Wins Best Commercial Bank In Nigeria And Best Corporate Governance Awards At World Finance 2024 Awards

Zenith Bank Plc has emerged as the Best Commercial Bank, Nigeria in the World Finance Banking Awards 2024, retaining the award for a fourth consecutive year.

The bank was also named as Best Corporate Governance, Nigeria for the third year running in the World Finance Corporate Governance Awards 2024.

The awards, which were published in the Summer 2024 Issue of the World Finance Magazine, are in recognition of the bank’s robust financial performance, superior customer service, sustainability initiatives and corporate governance practices.

Commenting on the dual honours, the Group Managing Director/Chief Executive of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, remarked:

“These awards highlight our steadfast dedication to excellence, adherence to global best practices, and our persistent effort to deliver superior value to all stakeholders through innovative products and services. Receiving these awards consecutively for multiple years signifies the commitment of our staff, the loyalty of our customers, and the support of our shareholders. We remain devoted to setting industry benchmarks and driving excellence across all aspects of our operations.”

Dr. Umeoji expressed her delight at the recognition and dedicated the awards to the Founder and Chairman, Dr. Jim Ovia, CFR, for his impactful leadership in establishing a robust and flourishing institution. She also expressed gratitude to the board for their vision and insight, the staff for their unwavering dedication, and the bank’s customers for choosing Zenith as their preferred bank.

World Finance is a leading international magazine providing comprehensive coverage and analysis of the financial industry, international business and the global economy.

The editorial combines award-winning reportage, covering a broad range of topics from banking and insurance to wealth management and infrastructure investment, with contributions from some of the world’s most well-respected economists and theorists as well as consultants in government think tanks and the World Economic Forum.

Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, with these latest accolades coming on the heels of several recognitions including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the 14th consecutive year in the 2023 Top 1000 World Banks Ranking, published by The Banker Magazine.

We were also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria in the International Banker 2024 Banking Awards

Further recognitions include Best Bank in Nigeria for three consecutive years from 2020 to 2022 in the Global Finance World’s Best Banks Awards and Best Commercial Bank, Nigeria for three consecutive years from 2021 to 2023 in the World Finance Banking Awards.

Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for 2022 and 2023, and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

The bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021 and Retail Bank of the Year for three consecutive years from 2020 to 2022 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

The bank also received the accolade of Most Sustainable Bank, Nigeria, in the International Banker 2023 Banking Awards and Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.

Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards

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