Ideato Nation Dumps Okorocha, Pledges Total Support to Uzodimma

Ideato Nation Dumps Okorocha, Pledges Total Support to Uzodimma

The people of Ideato North and South of Imo State have been promised of better dividends of democracy in the Shared Prosperity Government of Governor Hope Uzodimma.

It was on a day the high and mighty from Ideato Nation paid a solidarity visit to Governor Uzodimma at the government House Owerri to present to him a catalogue of needs, not just as their in-law, but one they described as “part and parcel of them.”

They said former Governor Rochas Okorocha who is their kinsman, neglected them and their needs despite being in power for eight years and that they are confident Governor Uzodimma will completely wipe out their tears.

Led by their Apex Leader, Chief Tony Ezenna, Chairman of Orange Drugs Limited and key traditional rulers from the area, the people said they were not only excited about the emergence of Uzodimma as Governor of Imo State, but regret that the administration of former Governor Okorocha did nothing to improve their lot.

Addressing the visitors, the Governor who did not reserve any part of him to show that he is one of them, explained that God did not make mistakes in bringing him on board the leadership of Imo State, and that what the Ideato Nation were not able to get from past administrations God could use him to actualize it.

Governor Uzodimma acknowledged that he is conversant with their problems as enumerated by them and at such will, after proper government assessment and procedures, tackle the problems head on. He informed the audience that satisfying their yearnings as part of Imo people he would be justifying the confidence reposed in him by them.

He specifically commended the lawmakers representing Ideato North and Ideato South in the Imo State House of Assembly, Hon. Arthur Egwim and Hon. Johnson Duru for their positive contributions in the House, as well as the Interim Management Committee Chairmen of Ideato North, Gloria Uche Mbadiwe and Ideato South, Chukwuma Ikeakafor their doggedness in the administration of the two Local Governments Areas that will lead to their development.

The Governor thanked the traditional rulers led by the Chairman of Ideato North and South Council of Ndi Eze, HRH. Eze Gerald Ezeiheakaibeya of Umuma- Isiaku Autonomous Community for their efforts towards peace and progress in their various communities.

Governor Uzodimma assured them that the current government of All Progressive Congress (APC) is working towards making all Imo people happy of which Ideato Nation will not be left out.

In their written address signed by Chief Ezenna, he described Governor Uzodimma as the “Governor whom we are well pleased,” and congratulated him on his well deserved election.

Chief Ezenna appreciated the Governor for finding some of the Ideato Nation’s sons and daughters worthy to be appointed into various offices in his administration, noting that they have never been so favoured.

According to Ezenna, the major reasons for their visit was to relate to him some of their teething problems and needs which they believe the Governor will passionately look into and help them solve.

These needs include but not limited to the bad state of: Orlu-Akokwa to Uga Road which is the major road connecting them as a constituency with the rest of Imo State and the Ntueke-Isiekenesi-Dikenafai Road which they described as a death trap.

Also, they informed the Governor that Ideato North and South have been in complete darkness as a result of power outage for about 12 years now, and pleaded with him to extend the on-going power distribution from Egbu to Nwaorieubi via Banana junction to Ideato.

Lastly, they asked for the establishment of a functional General Hospital in Ideato to compliment the services of Urualla Mission Hospital.

Caption: Governor Hope Uzodimma (c) Deputy Governor, Prof Placid Njoku (6th left), Chief Tony Ezenna (6th right), Secretary to Government of Imo State, Chief Cosmos Iwu (5th left), Hon Arthur Egim, Ideato North (5th right) Hon Johnson Duru, Ideato South (4th left) and Traditional Rulers from Ideato Nation when they paid a courtesy visit to the Governor at the Government House, Owerri.

In their various contributions, the two lawmakers for Ideato North and South pledged their continued support to the programmes and policies of the Governor.

The two Chairmen of Ideato North and South appealed to the Governor to passionately look at the request of their people especially as it concerns electricity and come to their aid.

On their part, the traditional rulers reassured the Governor of their prayers, continued support and loyalty, and readiness at all times to mobilize Ideato men and women to support his programmes and activities, and appealed with him to critically look at their presentations and save them from the present quagmire they find themselves.

Present at the visit were the Deputy Governor, Prof. Placid Njoku, the Secretary to the State Government, Chief Cosmas Iwu, the Chief of State Government House, Barr. Nnamdi Anyaehieand other members of the Imo State Executive Council.

Oguwike Nwachuku
CPS/Media Adviser to the Governor, Imo State
September 25, 2020

FCMB Clarifies Position on N573 Million Transfer

FCMB Clarifies Position on N573 Million Transfer

Our attention has been drawn to widely circulating stories incorrectly stating that our Managing Director, during a recent presidential hearing in Abuja, testified that the bank mistakenly transferred N573m to the account of a church and the said error was not discovered for 4 years. We feel it is in the public interest to state emphatically that there was no transfer of N573m into this account, mistakenly or otherwise.

To provide further clarity, during a maintenance upgrade of our systems in 2016, a defective file led to the aggregation of multiple unrelated entries into a single balance under the affected customer’s name in one of our reports. This aggregation occurred only in the weekly automated report to the Nigerian Financial Intelligence Unit. It had no effect on any customer account balance or statements and therefore was not immediately identified. Our Managing Director clarified to the Presidential panel that the system generated report was incorrect and that there was no mistaken transfer of N573 million. He also submitted comprehensive documentary evidence to this effect.

We appreciate that comments may have been misconstrued and therefore believe it is important to emphatically clarify the position that there was no mistaken transfer whatsoever, as stated above. FCMB continues to fully cooperate with the panel, and has been entirely transparent in its reporting. We remain committed to ethical and professional conduct at all times.

Governor Ihedioha Appoints Visitation Panels For IMSU, IMSUTH.

Governor Ihedioha Appoints Visitation Panels For IMSU, IMSUTH.

In furtherance to his resolve to sanitize and reposition tertiary education in the state, Governor Emeka Ihedioha CON, has constituted Visitation Panels for Imo State University, (IMSU), and the Imo State University Teaching Hospital, (IMSUTH) Orlu.

Members of the Visitation Panel to Imo State University, IMSU are as follows:

1. Prof (Ven) Chinedu Nebo – Chairman
2. Prof I.K Ogbonnaya – Member
3. Prof Basil Nwosu – Member
4. Prof (Mrs) Florence Nduka – Member
5. Prof N.F Ukaigwe – Member
6. Prof Dominic C.Chima – Member
7. Dr. Chilaka E. Nwankwo – Member
8. Mr. Chuck Chukwemeka – Member
9. Dr. (Mrs.) Chineze Eunice Obi – Member
10. Mr. A.C.A Duru – Secretary

Members of Visitation Panel to Imo State University Teaching Hospital, IMSUTH are:

1. Prof. Frank C. Akpuaka – Chairman
2. Prof. Theodore Okeahialam – Member
3. Lady Stella Achunine – Member
4. Prof. Peter Akah – Member
5. Dr. (Mrs) Meg Opara – Member
6. Dr. Emeka Iroegbu – Member
7. Mr. Basil Ngobiri – Member
8. Dr. Kenneth Iregbu – Member
9. Barr. Ekene Bob – Ekechukwu – Member
10. Mr. Leo Chimezie – Secretary

The Panels are empowered to enquire the following:

a. Identify the strength and problems of the universities and make appropriate recommendations to the Visitor.

b. Ascertain the operations of various departments/ Units. This is also applicable to Deans of Students Affairs, or Faculties, Directors of Academic Planning, Works, ICT, Procurement. To also investigate other issues such as cliqueism and cultism.

c. Ascertain the operations of the universities and investigate students’ complaints bordering on various issues.

d. Conduct internal audits including the Bursary Department, aimed at ascertaining the financial status from 2012, including Internally Generated Revenue (IGR), university Micro finance bank and come up with a comprehensive report.

e. Investigate award of contracts in the universities and ascertain if due process was adhered to in line with the Procurement Act 2017.

f. Investigate state of infrastructure, including collapsed or collapsing buildings

g. Investigate the appointment of the Vice Chancellor, to ascertain if it was in conformity with due process.

h. Ascertain the welfare of students and investigate allegations of sexual abuse, extortion, issues bordering on allocation of hostels, sub standard books, handouts, SUG election and illegal payments.

i. The Panels are mandated to capture other issues not listed on the terms of reference and forward to the Visitor not later than one month.

Chibuike Onyeukwu
Chief Press Secretary to the Governor

FCMB Introduces Revamped Agro-Commodity Trade Finance Facility to Boost Agriculture

FCMB Introduces Revamped Agro-Commodity Trade Finance Facility to Boost Agriculture

Leading financial services provider, First City Monument Bank (FCMB), has introduced an enhanced agro-commodity trade finance facility for agribusiness operators. The development marks another bold step by the Bank to expand and deepen its support to the agricultural sector, its value-chain and the overall growth of the Nigerian economy.

The revamped facility is designed for agro-commodity merchants with supply contracts to multinationals, large corporates and processors of agro-commodities. Targeted commodities are cocoa, cashew nut, sesame, ginger, palm Oil, grains (maize, sorghum, soya beans, paddy rice). Under this new FCMB trade finance facility which is structured in the form of a working capital, the minimum amount that can be accessed by a qualified customer is N100million, while the maximum is N2billion.

Explaining the rationale behind the introduction of the facility in an enhanced form, the Divisional Head, Agribusiness of FCMB, Mr.KudzaiGumunyu, said the Bank recognises the gap that exists in agribusiness financing as well as other challenges faced by operators, including farmers, in the sector.

According to him, ‘’we realise there are millions of agro-traders and processors across the country that need credit at convenient and affordable rates, considering the level of attraction the agric sector has garnered. Our decision to introduce a revamped agro-commodity trade finance facility is part of our intervention in the agribusiness space to ensure agribusinesses and other stakeholders are empowered with the requisite funds and enablers to boost production and marketing of agricultural commodities. Commodity producers and traders stand to immensely benefit from this facility, because it is a veritable and convenient opportunity to access funds that ensure cash flow is available for maximum output. We urge all to take advantage of this offering’’.

He assured that FCMB is focused on being a strategic partner in the agric sector to drive the diversification of the Nigerian economy, food self-sufficiency, employment and export earnings.

Highlighting FCMB’s contributions to agribusiness, Mr.Gumunyu said the Bank had sustained the tempo of support through numerous cutting-edge initiatives through innovative products. He said FCMB in 2018, provided lines of credit that peaked at 8 percent of the Bank’s total loan book to the agric sector with the intention to improve on this this milestone.

FCMB has consistently proved its mettle as an inclusive and impact investment lender and as an institution that accords agribusiness top priority. For instance, the Bank facilitated and guaranteed the procurement of fifty (50) tractors by the Tractor Owners and Operators Association of Nigeria (TOOAN) Ventures from the Bank of Industry. The tractors were handed over to the Association recently at Ilero town, Oyo State. In addition, FCMB is in partnership with several local and international institutions, such as CBN, BOI, DBN, FMO, International Finance Corporation, USAID, AFD and AGF to provide funding and other classes of support to the agric sector.

Recently, the lender signed a Memorandum of Understanding with the World Savings and Retail Banking Institute (WSBI). The memorandum is aimed at deepening agency banking, financial inclusion and savings culture in the informal and agribusiness sectors, starting with five states, namely Kaduna, Kano, Nasarawa, Ogun and Oyo. The plan is to reach 2 million farmers nationwide by the year 2023.

First City Monument Bank (FCMB) Limited is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail banking and wealth management led group, FCMB expects to continue to distinguish itself through innovation and the delivery of exceptional services.

Fidelity Chairman Calls for Greater Board Participation in Cybersecurity

Fidelity Chairman Calls for Greater Board Participation in Cybersecurity

Against the backdrop of high-profile and sophisticated online attacks on large commercial banks, Directors of listed and private companies in the country have been advised to take active roles in their respective organization’s cybersecurity framework and operations. The Chairman, Board of Directors of Fidelity Bank Plc, Ernest Ebi gave the counsel at the 2019 Bank Directors’ Association of Nigeria (BDAN) Conference on Cybersecurity held in Lagos.

Whilst stating that organisations have become completely dependent on cyber networks to run their processes, Ebi pointed out that Boards need to understand and approach cybersecurity from enterprise-wide risk perspectives rather than Information Technology (IT). He said rapidly evolving data breaches and attacks have caused significant financial and reputational damage to many organisations. “The Board should develop expertise on cyber risk. Cybersecurity must be a constant on the Board’s agenda”, he said.

Fidelity bank
Photo: Chairman, Board of Directors, Fidelity Bank Plc, Ernest Ebi; President, Governing Council of Bank Directors’ Association of Nigeria (BDAN), Osaretin Demuren; and Partner and Head of Technology Advisory Practice & Markets, KPMG Nigeria; Joseph Tegbe, at the 2019 Bank Directors’ Conference themed ‘Cybersecurity in Banks: The Role of the Board’ held at the Oriental Hotel in Lagos on Thursday.

President, Governing Council of BDAN, OsaretinDemuren recognised the importance of information sharing in tackling the growing menace of cybercrime. Demuren noted that sharing of relevant information amongst stakeholders in the financial services industry would help demystify the activities of hackers and cyber criminals. This, she added will make them less effective in perpetuating their nefarious deeds. “Cyber security is one of the top risks that is being faced not just in the financial sector, but in all sectors of the economy.

“However the impact is more felt in the financial sector, because once you hack into one, all the others are open. So, it is very important that people are aware of cyber risk and the damage it can do to businesses”, She explained. Emphasising the importance of the Board in an organisation’s cybersecurity posture particularly in relation to protecting shareholder value, Partner and Head of Technology Advisory Practice & Markets, KPMG, Joseph Tegbe said the board must do all it can to mitigate risk for consumers and shareholders.

Tegbe, in his keynote address, said the Boards should be held responsible and accountable for cyber breaches. “Managing cyber risk should be a Board priority. Boards must develop requisite capacity to ask the right questions from Management”, he explained. He also advised organisations to conduct cybersecurity assessment to help reduce risk, minimize breach impact, and protect against future attacks. “Building cybersecurity capabilities for banks must be strategic. We must be proactive and not reactive”, he added. The conference themed “Cybersecurity in Banks: The Role of the Board” featured a panel session with cybersecurity experts, who shared their unique perspectives on how the menace of cybercrime particularly within Banks can be nipped in the bud. Some of the panelist include: Managing Director/Chief Executive Officer, Digital Jewels Limited, Adedoyin Odunfa; Founder, Computer Warehouse Group Plc, Austin Okere; Chief Strategy Officer & Cyber Risk Services Leader, Deloitte West Africa, Tope Aladenusi, amongst others.

Fidelity Bank Realigns for Next Growth Phase, Appoints New Executive Directors

Fidelity Bank Realigns for Next Growth Phase, Appoints New Executive Directors

As part of corporate realignment and repositioning for the next growth phase, the Board of Directors of Fidelity Bank Plc has announced the appointment of three new Executive Directors. The Board which met in Lagos recently, approved the appointment of Gbolahan Joshua as Executive Director/Chief Operations and Information Officer; ObaroOdeghe, Executive Director, Corporate Bank and Hassan Imman, Executive Director, Northern Directorate, subject to the approval of the Central Bank of Nigeria (CBN).

Gbolahan will have executive responsibilities for Operations, Technology, Digital Banking, Investor Relations, Strategy and Business Transformation. ObaroOdeghe on his part will oversee all the bank’s corporate banking business covering Energy, Power, Manufacturing, Telecoms, Fast Moving Consumer Goods, Construction and Real Estate.  Hassan will supervise all Commercial, SME, Consumer and Public Sector businesses of Fidelity Bank in the North Directorate, comprising 18 states and Abuja.

The elevation of the 3 erstwhile General Managers to Executive Director positions, is consistent with the bank’s new succession strategy of grooming leaders from within. “Over the years, we have worked assiduously at proactively preparing our people and growing the talent and leadership pool in the bank, so that when opportunities arise, we do not always have to look outside. I am most delighted that our 3 new EDs were all appointed from within” said Fidelity Bank CEO, Mr.NnamdiOkonkwo. The strong and cohesive Board of Directors of Fidelity Bank led by Mr. Ernest Ebi, former Deputy Governor, CBN as Chairman, has 3 female Executive Directors; the largest on any bank Board and is comprised of seasoned businessmen/technocrats as members. “We welcome Gbolahan, Obaro and Hassan to the Board. Collectively they have with them, varied and deep industry knowledge and relevant experiences that will not only deepen but engender even more robust discussions and engagements at Board level. Please join me in congratulating them” said Chairman, Fidelity Bank, Mr.Ebi.

Photo: Gbolahan Joshua as Executive Director/Chief Operations and Information Officer

Gbolahan attended Kings College Lagos and holds a Bachelor’s Degree in Accounting.  He is a Chartered Accountant and has attended several executive and banking specific programs in leading educational and professional institutions including Harvard, IMD, and Euromoney. He has 20 years of comprehensive experience across various areas of Assurance and Banking including, Operations, Technology, Digital Banking, Strategy, Business Transformation, Finance, Treasury, Mergers and Acquisitions

Photo: Obaro Odeghe, Executive Director, Corporate Banking

Obaro attended Edo College Benin and holds a Bachelor’s Degree in Agriculture and an MBA. He has gained exposures from top global educational and professional institutions including Harvard, Wharton and Kelloggs. He has 24 years of banking experience across various areas of Banking including; Corporate Banking, Commercial Banking, SMEs, Consumer Banking, Institutional Banking, Trade Finance and Operations.

Photo: Hassan Imman, Executive Director, Northern Directorate

Hassan on his part, holds a Bachelor’s Degree in Economics, has two Masters’ Degrees and an MBA. He has attended programs in Harvard, Stanford, Wharton and other leading international educational and professional institutions. He has 25 years of comprehensive experience across various areas of Banking including; Commercial Banking, Consumer Banking, SMEs, Institutional Banking, Trade Finance, Operations, Treasury and Risk Management.

About Fidelity Bank

Fidelity Bank is a full-fledged commercial bank operating in Nigeria, with over 4.2 million customers who are serviced across its 240 business offices and various other digital banking channels. Focused on select niche Corporate Banking sectors as well as Micro Small and Medium Enterprises (MSMEs), Fidelity Bank is rapidly implementing a digital based retail banking strategy which has resulted in an exponential growth in deposits and a corresponding surge in customer enrollment on the bank’s flagship mobile/internet banking products.