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CBN assures investors of banks’ stability, soundness

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The Central Bank of Nigeria (CBN) says all metrics and indications indicate that the Nigerian banking system remains strong, stable, and is playing a significant role in aiding Nigeria’s economic recovery.

CBN’s Deputy Governor, Financial System Stability, Mrs. Aishah Ahmad gave the assurance while speaking at the 40th anniversary summit of the Financial Institutions Training Centre (FITC) in Lagos on the banking industry’s stability.

She added, “We’re very positive about the resilience and the soundness of the banking sector. You see the reports as we give them from time to time from the MPC. Actually, the banking system has been very strategic in support of the recovery based on the impact of COVID.

“Some of the forbearances that we granted to the banking sector has helped to ensure they retain their capacity to lend and it has helped them give succour to their obligors and we are seeing some obligors come out of that forbearance now.

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“The financial soundness indicators have been very strong on capital, liquidity, and we’re very proud and we just want to continue to ensure that the bank system continues to provide lending, not just wholesale or commercial lending but to small business because that will be the engine of the economy.”

Significant developments, she said, had brought discussions about Africa’s potentials back to the forefront. She stated that the financial system, just as it was in mapping the economic recovery route from COVID-19, would be critical in realising Africa’s enormous potentials.

Mrs Ahmad stated that the CBN, under the management of Governor Godwin Emefiele, was committed towards an inclusive growth and LDR policy which had been positive, adding that N7 trillion in retail loans was an unequalled record.

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She said, “Over the years the CBN has tried to ensure that we drive lending to the real sector. You would agree with me that the policy under Governor Emefiele over the last few years, has really emphasised on this, not only in terms of intervention funds given but in terms of some of the policies put in place such as loan to deposit ratio (LDR) which when we instituted it in 2019 till now actually added about N7 trillion or so in loans, and which is quite unprecedented.”

Global rating agency, Moody’s investor Service had last week highlighted the improving asset quality and resilient profitability of nine Nigerian banks, and also affirmed B2 long-term local and foreign currency deposit ratings as well as senior unsecured ratings.

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At the same time, the rating agency changed the outlook on all the banks’ long-term deposit ratings to stable from negative

The rating agency listed the banks as: Access Bank Plc, Zenith Bank Plc, First Bank of Nigeria Limited, United Bank for Africa Plc, Guaranty Trust Bank Plc, and Union Bank of Nigeria plc, Fidelity Bank plc, FCMB Limited and Sterling Bank Plc.

The rating action reflects the banks’ financial profiles which have been generally resilient to the difficult operating environment in Nigeria. On average, the Nigerian banks’ asset quality has remained resilient and banks’ pre-provision profitability is recovering to pre-pandemic levels while their capital and funding positions, particularly in local currency, have remained solid

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OmegaPro Spearheads The Biggest Event In The History Of Maldives

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OmegaPro took over Maldives for one whole week and organized the biggest event the island has ever seen.

Over 1,000 people from the OmegaPro community, founders, celebrated football legends like the Spanish and Barcelona great Carles Puyol, French wizard Eric Abidal, Colombian icon Faryd Mondragón, Bollywood superstars, Indian cricketers and more congregated on the supremely exotic Siyam World in Maldives.

Celebration, Education, live-mentoring & group brainstorming sessions, football tournaments, and life-transforming self-empowerment seminars – this one-of-a-kind event will go down as the biggest event in the history of Maldives for a long time to come.

“I alone cannot change the world, but I can cast a stone across the waters to create many ripples.” – Mother Teresa. This was the prime motive that saw the dawn of the greatest event in the history of Maldives, spearheaded by global marketing leader OmegaPro.

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Eric Worre conducting an intensive training session to more than 1,000 people at Diamond Trip Maldives

Community – The focal point of human experience

OmegaPro sees these events to promote its ideology – “Grow as One”

One aspect of OmegaPro’s community-centric approach is to increase self-esteem and cultivate a sense of belonging & oneness among the community members. It enables people to share personal relatedness and support the perpetual growth of each other, ourselves and our environment.

Leadership – The crux of success

“Leaders instill in their people a hope for success and a belief in themselves. Positive leaders empower people to accomplish their goals.”

As the OmegaPro organization is breaking ceilings and scaling newer heights, having the right people with the right mindset and drive is a critical component, not just for the benefit of the organization but also for the ever growing community’s happiness and the business’s overall culture.

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OmegaPro believes that when building a business, a leader and their team set out on a journey together. Part of building a strong relationship with the people who work with you is knowing how their goals align with the organization. Through this event, OmegaPro, transformed many followers into truly inspirational leaders to shape a better tomorrow for their respective communities.

In Maldives, OmegaPro, with the help of its official strategic coach Eric Worre, set the direction and goals to help people converge toward a common goal, and empower them to reach their full potential and stay motivated.

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Eric Worre even put forth strategies to push the horizon and seek innovative ways to achieve unparalleled success.

The other aspect of the community-centered approach of OmegaPro is to inculcate a sense of ownership in people. OmegaPro is a firm believer of the fact that one must feel personally and positively impacted by the success of the mission. “Leadership is the cornerstone of a strong community.”

OmegaPro’s vision to “Breaking Barriers Through Education, Shaping Leaders Of Tomorrow” is being carried out through extensive training with unique and effective skill development programs. With resources customized to perfection by the greatest legends of the respective industries, OmegaPro is on its way to become the one-stop destination for accessing fundamental tools, special materials, dedicated coaches and once-in-a-lifetime experiences.

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Gideon Adebisi, an OmegaPro Diamond Executive in Maldives

An ode to the OmegaPro community

Celebrating victories and milestones is just as important as achieving and accomplishing them. Diamond Trip Maldives was all about honoring the phenomenal grit and determination shown by the diligent members of the community and to get them ready for the road forward.

screenshot 2022 11 18 at 08 24 01 carles puyol and mario yepes omegapro.jpg.webp (webp image 790 × 367 pixels)

Legendary footballers Carles Puyol and Mario Yepes snapped on arrival at the OmegaPro Diamond Cup in Maldives

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Beloved community members acknowledging OmegaPro

About OmegaPro

OmegaPro is a global marketing leader with a massive education platform offering the best skill development training to empower the OmegaPro Community. With resources customized to perfection by the greatest legends of the respective industries, OmegaPro is a one-stop destination for accessing fundamental tools, special materials, dedicated coaches and once-in-a-lifetime experiences.

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OmegaPro is on a mission to Break Barriers Through Education To Create Leaders Of Tomorrow. Through education, OmegaPro has become the home and benchmark of new opportunities that are always ahead of the curve and supported by an elaborate team dedicated to your ambition and your success.

OmegaPro houses an extensive array of relevant educational tools, renowned personnel and acclaimed resources as one of the most beloved and trusted learning platforms of its kind with a firm focus on the priceless mantra – Mentorship for the best can only be delivered by the best. With our community’s faith at the epicenter of OmegaPro’s operations combined with over five decades of cumulative expertise acting as the perfect catalyst, we are here to deliver a first-class learning environment as we keep marching on.

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Since our inception in 2019, OmegaPro now proudly has a massive community of over 2,500,000 active members and is growing by the blink of an eye as we scale greater heights every single day. And, we like to believe that this is only the very beginning of an incredible journey that awaits us and our community. Welcome to the revolution of tomorrow as we aim to orchestrate a better future. Visit www.omegapro.network

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Funmilayo Falola quits Wema Bank, joins ENGIE Energy Access as Global Head Of Communications

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The leading Pay-As-You-Go solar and mini-grids solutions provider in Africa, ENGIE Energy Access, has appointed consumer marketing professional, Funmilayo Falola as its Global Head of Communications.

The company, which aims to remain the leading clean energy company operates in nine countries across Africa (Benin, Cote d’Ivoire, Kenya, Mozambique, Nigeria, Rwanda, Tanzania, Uganda, and Zambia) with more than 1.5 million customers and over 8 million lives impacted so far.

At ENGIE Energy Access (Africa), she will oversee the communication strategies including the brand, image, and product, while providing support for the company across the region.

Before joining ENGIE Energy Access (Africa), Falola was the Head, Marketing Communications & Investor Relations at Wema Bank Plc.

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Prior to pitching her tent with Wema Bank, she worked at First Bank of Nigeria Ltd as the Head, Internal Communications & Merchandising & Warehousing where she developed and implemented the year-on-year internal communications strategy in alignment with the overall marketing strategy.

She started her career at CentrespreadFCB (now CentrespreadGREY) in 2005 where she cut her teeth as a Senior Executive – Business Development between 2005 and 2006, and rising through the ranks to the position of Client Service & Strategy in 2009.

Falola holds a Bachelor of Science, Political Science from the University of Lagos, UNILAG, in 2002. She proceeded to earn a Master of Business Administration, MBA in Marketing, from the same institution in year 2020.

She also has a Post Graduate Diploma, Marketing from the University of Leicester, United Kingdom.

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Wema Bank to support SMEs in Port Harcourt with SME Business School 4.0

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Wema Bank Plc, the pioneer of Africa’s first fully digital bank, ALAT, has once again demonstrated its unwavering commitment towards developing the capacity of SMEs in Nigeria to scale by launching the fourth edition of its SME Business School in Port Harcourt.

Designed to help build capacity for SMEs in the country, Wema Bank’s SME Business School was launched in Lagos in 2021. The second edition took place virtually, while the third edition happened in Abuja. Now making its journey to the South-South geopolitical zone of the country, the initiative has helped to equip SMEs in various parts of the country with the business management knowledge and skills required to effectively run their enterprises and respond to the ever-evolving challenges of today’s business world.

According to the Divisional Head, Retail Business at Wema Bank, Dotun Ifebogun, the Wema SME Business School was birthed in a bid to close the critical knowledge gap in the SME space in Nigeria, and each edition of the programme takes place in a different part of the country to ensure that SMEs all around the country participate and benefit.

He mentioned that the 4th edition of the Wema SME Business School, which holds in Port Harcourt and starts on Monday, November 14, 2022, would impart contemporary business management skills and knowledge to growing businesses operating within the South-South region of the country. “We intend to make them champions and successful enterprises, thus supporting the economic growth of the country,” he said.

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He disclosed that the bank has collaborated with top-notch consultants from renowned organizations within and outside Nigeria, including Deloitte, Facebook (Meta), and Nexford University, to serve as facilitators on the programme and ensure that the participants get an immersive and invaluable learning experience.

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Dotun further noted that the initiative would be a meaningful addition to SMEs seeking to scale and strengthen their market positions.

“As an SME-friendly bank, we understand that starting and running a business in Nigeria is no small feat, and there are lots of challenges that SMEs face.

“We started the Wema SME Business School to equip them with relevant and practical knowledge that will guide them in the effective running of their businesses and to surmount any challenges that they encounter.

“Through this, we can tackle problems such as poor access to finance, poor market access, technological disruptions, and macroeconomic uncertainty. All in all, we will equip them with fresh ideas and insights that will help them to take their businesses to a higher level,” he said.

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Businesses interested in leveraging this opportunity and participating in the Wema SME Business School 4.0 can register with the link https://forms.gle/TRj7ACzTQJkWrb3D8.

The Wema SME Business School is one of the various beyond-banking initiatives offered by Wema Bank PLC to complement its bespoke financial offerings for SMEs.

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