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FCMB Engages Entrepreneurs in Oyo State, Extends Free Business Finance Training

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5 years ago

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Hundreds of existing and start-up entrepreneurs based in Oyo State have benefitted from the seventh edition of the First City Monument Bank (FCMB)-organised free comprehensive capacity building programme, tagged, “Business Enterprises and Sustainability Training (BEST)’’, for Small and Medium Scale Enterprises (SMEs).

The training, organised by FCMB Training Academy, the Bank’s Business Banking Group and seasoned facilitators, focused on business and skills development, marketing, finance and accounting for SMEs. It was held on Saturday, August 25, 2019 in Ibadan, Oyo State and attended by over 300 entrepreneurs across various segments of business.

The programme covered various topical areas such as identifying business opportunities, surviving in a harsh business environment and improving productivity. Other major areas covered also include raising capital, optimising sales, cost and revenue management, among others. It is one of the value-added offerings of FCMB to complement its efforts in the areas of lending and advisory services to SMEs with the objective of stimulating their growth and contributions to overall national development.

According to the Executive Director, Business Development of FCMB, Mrs. Bukola Smith, the Bank recognises the increasing role and impact of SMEs. ‘’The BEST initiative is one of the innovative ways we empower, promote and lay a solid foundation for the long-term success of our SME customers. Without effective training and exposure, it could be quite difficult for their businesses to succeed. We believe this training will go a long way to impact positively on the SME operators who have participated in this programme. It will propel them to further develop themselves in order to compete favourably within and outside the Nigerian market. We, therefore, urge the beneficiaries to take advantage of the unique opportunities provided by this exercise. It is a veritable platform for them to take the lead to drive the diversification and growth of the Nigerian economy’’, she said.

Also speaking, the Head, Training Academy of FCMB, Mr. Sola Oyegbade, stated that, ‘’BEST initiative is a proof of our commitment to the growth and sustainability of SMEs. We focus on helping and getting these businesses sustained, beyond just focusing on what value they add to our own Business on the immediate. We constantly keep our eyes on the critical need for SMEs to maximally contribute to the rapid development of the nation’s growing economy. Several of our SME partners who have participated in earlier versions of this training are much better off today”.

Participants expressed their immense gratitude to the Bank for providing such a very valuable platform without charges. The Managing Director of Precious Gems Medical Consults, Dr. Olusola-Taiwo Omolara, described the training as, ‘’an eye-opener’’. According to her, ‘’the first session enlightened me on some matters that I would not have given due consideration to as factors that drive business growth. But now with the knowledge gained, I will have a fresh approach towards doing business in my community. It is rare for a financial institution in Nigeria with a remarkable reputation such as FCMB to take out the time to help businesses, most especially SMEs, to equip them with practical knowledge to overcome the challenges of the harsh business environment. But FCMB has brought this to us right at our doorsteps completely free of charge and in a very grand manner’’.

On his part, the Chief Executive Officer of Scent Design Nig Ltd, Mr. Abayomi Lambo, said, “the entire programme was brilliant and well planned. I was blessed to be part of it. It is nice to see a Bank giving back to it’s customers”.

Beyond the BEST capacity building programme, FCMB has a suite of cutting-edge offerings in the SME segment. The financial institution is one of the top participating Banks appointed by the Central Bank of Nigeria (CBN) to drive the N220billion Development Fund instituted by the apex regulatory institution to provide loans to SMEs. In addition, the Bank offers free banking transactions for a period of three months to its new SME customers.

For more information about FCMB, please visit www.fcmb.com.

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Former Governor Ifeanyi Okowa, Spends Second Night In EFCC’s Cell Over N1.3 Trillion Alleged Fraud

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14 hours ago

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November 7, 2024

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Immediate past governor of Delta State, Ifeanyi Okowa, who was arrested and detained by the Economic and Financial Crimes Commission (EFCC) has spent second night in the custody of the anti-graft commission.

 

Okowa is currently being investigated and detained over the alleged diversion of N1.3 trillion.

 

The N1.3 trillion reportedly represents the 13% derivation fund from the federation account between 2015 and 2023.

 

According to sources within the commission, Okowa was invited to the EFCC office in Port Harcourt, Rivers State, where he’s subsequently detained by officials.

 

One of the sources stated, “Okowa was at our Port Harcourt office following an invitation from investigators probing the allegations against him. He was then arrested. The commission is investigating him regarding the N1.3 trillion 13% derivation fund from the federation account between 2015 and 2023.

 

“He is also accused of failing to account for the funds, as well as another N40 billion he allegedly claimed was used to acquire shares in UTM Floating Liquefied Natural Gas. He reportedly bought shares worth N40 billion in one of the country’s major banks, representing an 8% equity stake, to support the offshore LNG project. The funds are alleged to have been misappropriated for other purposes.

Investigators are also examining the alleged diversion of funds by the former governor to acquire estates in Abuja and Asaba, Delta State. He is currently being held at the EFCC facility in Port Harcourt.

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Lagos Government Shuts Down Redeemed Church, Celestial Church, Clubs, Event Centres Over Noise Pollution

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1 day ago

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November 6, 2024

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The Lagos State government has shut down a branch of Pastor E. A. Adeboye’s Redeemed Christian Church of God, a Celestial church, nightclubs and event centres over noise pollution.

The Commissioner for Environment and Water Resources, Tokunbo Wahab, who made this known on Wednesday, said the churches, clubs and event centres were sealed on Tuesday by the Lagos State Environmental Protection Agency (LASEPA) in the Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota areas of the state.

The sealed establishments include: Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Lounge & Lodging, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.

The commissioner in a post on X said, “In a bid to address noise pollution and other environmental violations, the Lagos State Environmental Protection Agency (LASEPA) took action yesterday, closing down several establishments across different parts of the state.

“This enforcement drive, focusing on areas like Ogudu, Gbagada, Iyana Ejigbo, Isolo, Ajao Estate, Oshodi, Ilasamaja, and Okota, is part of LASEPA’s continuous efforts to uphold environmental standards and safeguard public health.

“The affected establishments include Honourable Lounge & Lodging, Redeemed Christian Church of God, Celestial Church of God, OMA Nightclub and Lounge, Bridge Spot Bar, Okiki Event Center and Hall, Emota Paradise Hotel (Phase 2), CF Hotel & Suites, House 27 Hotel & Suites, Echo Spring Hotel, and Smile T Continental Hotel.”

 

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Gen. Taoreed Lagbaja: Tinubu directs flags be flown at half-mast

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1 day ago

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November 6, 2024

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President Bola Tinubu has directed that Nigeria’s national flags be flown at half mast for seven days across the country to mourn the passing of the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja.

The late Army chief, who was appointed by Tinubu on 19 June 2023, was said to have passed away on Tuesday night after a prolonged illness.

The Secretary to the Government of the Federation, George Akume, in a statement on Wednesday by his office Director of Information & Public Relations, Segun Imohiosen, said the president expressed regret over Lagbaja’s death.

Akume said, “President Bola Tinubu has expressed regret following the death of the Chief of Army Staff, Lieutenant General Taoreed Abiodun Lagbaja, after a brief illness at the age of 56.

“The President has directed that national flags be flown at half mast throughout the country for seven days in honour of the departed Army chief.

“He profoundly appreciates the services of the departed to the nation and wishes the family the fortitude to bear the great loss.”

Meanwhile, the Ministers of Defence, Mohammed Badaru and Bello Matawalle, have commiserated with the president, the military, and Lagbaja’s family over his death.

In a statement by the Ministry’s spokesperson, Henshaw Ogubike, the ministers described Lagbaja’s death as a great loss to his family, the Army, and the nation at large.

“The passing on to eternal glory shocked us at the Ministry of Defence, as our working relationship with him was commendable; he exhibited the spirit of camaraderie and cooperation with us in the discharge of our mandate.

“The late Chief of Army Staff contributed significantly to internal security operations across Nigeria and also exhibited a high level of professionalism.

“He will be greatly missed by the family, the military, and the nation, as he served the nation with commitment and dedication,” the statement added.

 

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