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FIRSTBANK: THE EMBODIMENT OF CORPORATE RESPONSIBILITY AND SUSTAINABILITY

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2 years ago

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Who should corporate responsibility and sustainability lessons be taken from? Some companies are still unclear about the concept but latching onto the sustainability mantra anyway, because it has become a marketing buzzword for business? Or a company through whose creed and deeds, over the many decades it has been around, people can see corporate responsibility and sustainability lived (first) and preached (subsequently)?

 

If the above set of questions constituted a question in an examination hall, it would be one of the easiest of questions to answer. Not one person would fail it. Outside the examination hall, the answer to this question that seems as easy and simple like the question of 2 + 2 may not be as easy and simple. It may be complicated by all the cleverly arranged noise and claims projected at people to make it difficult for them to see and accept the obvious.

 

So, it is incumbent on people who know, and care enough (like this writer), to keep stating and restating the obvious. This is in the hope that doing so would help others to take full cognisance of the obvious and not allow themselves to be bamboozled by image without substance and rhetoric without pedigree.

 

The concept of corporate responsibility and sustainability is not about the clever or manipulative use of marketing buzzwords by corporate citizens. It is about impact, net positive impact, in the lives of real, not imagined, people through the deliberate and well-planned activities of socially-responsible corporate citizens.

 

Even if history is no longer taught in most schools in Nigeria, the records are there. The records show that Nigeria has been blessed to have standing by her, at all times, a corporate citizen which understands the concept of corporate responsibility and sustainability.

 

This corporate citizen has been standing by Nigeria before the country’s founding, through its amalgamation, Independence and all the conflicts and crises Nigeria has gone through and still faces. Today, the corporate citizen still stands by Nigeria.

 

First Bank of Nigeria Limited, a lender of unmatched pedigree, a bank with a history of unparalleled support to Nigeria and Nigerians (right from the colonial era to date, even serving as Nigeria’s central bank at some stage of our national development), has been a corporate citizen like no other.

 

A brand that has backed innumerable groundbreaking projects across Nigeria and beyond, FirstBank has demonstrated that real impact that can be seen and felt by all, and not mere marketing buzzwords, is the real measure of an institution’s understanding of corporate responsibility and sustainability.

 

It is incontrovertible that whichever way corporate responsibility and sustainability is understood or defined, FirstBank is sure to tick all the boxes. Just name every parameter for assessing a company’s efforts in corporate responsibility and sustainability and match each against what FirstBank has been doing. Is there any parameter that FirstBank has not surpassed?

 

FirstBank has been living corporate responsibility and sustainability for most, if not all, of its existence as a going concern. Knowing it cannot do it alone, the bank has also devoted resources to efforts that will enable it to preach or pass the message so other corporate citizens, groups and individuals will emulate it.

 

One platform the bank has used effectively for this purpose is its Corporate Responsibility and Sustainability (CR&S) Week. The CR&S Week is a full working week that the FirstBank Group, in-country and across the world where it operates, dedicates to the promotion, execution and celebration of social responsibility initiatives.

 

The Sustainability Week also includes a huge kindness campaign to reorient citizens towards the right values and reignite acts of kindness in society. It is only one of the many ways FirstBank is living true to its brand promise to always put customers first.

 

And the Sustainability Week seeks to invite others (individuals and corporate citizens) to follow the bank’s example and begin to intentionally create positive impact in their immediate communities.

 

From the inaugural edition in 2017, where the theme was “Promoting Kindness: Putting You First”, the Sustainability Week has helped to reinforce FirstBank’s role as a nation-builder that is driving sustainable development across communities where it operates. It was an opportunity for the bank to encourage others (individuals and corporate citizens) to follow in its steps, even if all they can afford to take are small steps.

 

Taking small steps may have informed the choice of theme for the second edition of the Sustainability Week in 2018: “Touching Lives: You First”. The bank sought to debunk the notion that touching lives in meaningful ways and making an impact on society require big-ticket projects, whilst emphasising the power in the little things people do and the small steps they take.

 

After all, is it not little drops of water that make a mighty ocean, like the saying goes? And does the journey of a thousand miles not begin with a (small) step, like another saying puts it?

 

Just take a look at SPARK (Start Performing Acts of Random Kindness), a values-based initiative that raises consciousness promoting kindness to one another in society, which the bank started during the inaugural Sustainability Week in 2017.

 

Aimed at reinforcing FirstBank’s corporate culture of encouraging giving and volunteering among its staff and the larger society, its magnitude today and the many kind initiatives it has sparked off across the country could not have been imagined when the seed was planted five years ago. Incalculable manhours and financial resources from FirstBank staff and partners have been contributed willingly.

 

Children in orphanages, internally displaced persons (IDPs) in various IDP camps, widows and other underprivileged or vulnerable groups have been visited and their challenges alleviated if not totally eliminated. Scores of career counselling sessions with secondary school pupils across Nigeria has also been organised as part of the Sustainability Week, which has been the first of its kind in Nigeria’s financial services industry.

 

In 2019, the third edition of the Sustainability Week with the theme: “Ripples of Kindness: Putting You First” enunciated the values (or pillars) of the SPARK initiative to include Compassion, Civility and Charity. FirstBank believes that these values and the acts of kindness that flow as a result of embracing the values are critical to promoting and building peaceful co-existence and prosperity in society.

 

Among the key highlights of the 2019 Sustainability Week was a “Nice Comments Day” that was a day set aside to foster words of encouragement, support and kindness to people around one, regardless of ones’ familiarity or close ties, in recognition of the instrumental role kind words play in lighting up people’s day and bringing out the best in them.

 

Another highlight was the SPARK School Engagement that promoted the SPARK initiative in schools, with the objective of embedding the values of SPARK amongst school children at a young age so the values become part of, and habitual to, them as they develop into adulthood.

 

Due to COVID-19 pandemic and government-imposed lockdown, the year 2020 witnessed no edition of the Sustainability Week. Any attempt to stage the kinds of activities and events that usually accompany the Sustainability Week would have been counterproductive, spreading infections and possibly deaths instead of kindness and joy that the Sustainability Week has become synonymous with.

 

However, FirstBank’s avowed commitment to corporate responsibility and sustainability would not allow it fold its hands and just watch while COVID-19 and its debilitating effects tried to make living and learning difficult for most Nigerians.

 

Working virtually or remotely and, where it could not do otherwise, physically but in strict adherence to COVID-19 safety protocols, FirstBank executed several initiatives meant to ameliorate the very difficult situation in Nigeria then.

 

The bank contributed to efforts to provide palliatives to vulnerable Nigerians, announced a moratorium on repayment of loans, set up a special loan fund for businesses run by women, established another for school proprietors in collaboration with a state government and drove an e-learning initiative that sought to move one million school children to a safe online learning platform so their educational progress would not be set back due to COVID-19 restrictions, government-ordered lockdown and the closure of educational institutions for the greater part of 2020

 

“Kindness: A Way of Life” was the theme for the fourth edition of the Sustainability Week held in 2021. Highlights of activities of the 2021 Sustainability Week, designed to entrench a culture of kindness, included a practical-oriented training webinar for staff to embed a culture of kindness in the bank by driving understanding of how kindness (or the lack of it) can impact the workplace, the marketplace and the communities in which staff live and work.

 

Another important feature of the Sustainability Week was the “Kind Comments Days” that ran all week to inspire a consciousness of kind choice of words and consideration for others. There was also a dedicated programme in secondary schools designed to institutionalise SPARK by using school SPARK champions (including students and teachers) alongside other partners such as Junior Achievement Nigeria (JAN) and Lagos State government to inculcate the SPARK values in school children.

 

One other feature was the ground-breaking ceremony for the Lagos State government’s OCAAT (One Community At A Time) initiative to provide the Primary Health Care Centre at Ijedodo community in Alimosho LGA. Set up as an initiative to improve the health and welfare of the members of various communities in Lagos State, FirstBank partnered the government on the project as part of its contribution to global efforts to meet some specific Sustainable Development Goals (SDGs).

 

There were also webinars: a general webinar with the sub-theme: “Education: Does Kindness have a Role?”; and a millennial webinar with the sub-theme: “Making the Cyber World a Kinder Place” which sought to proffer solution to the question of how people could become kinder on social media platforms.

 

All the past editions of FirstBank Sustainability Week highlight the longstanding and relentless commitment of FirstBank not only to continue to live but also to preach the message of corporate responsibility and sustainability.

 

Given its unmatched pedigree in corporate responsibility and sustainability, FirstBank has earned the right to address all other corporate organisations as well as individuals and groups on matters of sustainability. The bank has earned its right to the people’s audience.

 

It is against this backdrop that FirstBank’s forthcoming 2022 Corporate Responsibility and Sustainability Week should be welcomed by other banks and corporate citizens, irrespective of industry, as an opportunity to come together and take lessons from Nigeria’s foremost corporate citizen with regard to corporate responsibility and sustainability.

 

FirstBank does not consider itself too big to take lessons from other corporate citizens in areas where they have distinguished themselves. So other corporate citizens should not feel too big to take lessons from FirstBank in this area where the bank stands highly distinguished.

 

Or can anyone claim not to know that if the concept of corporate responsibility and sustainability were to be represented by one corporate citizen per country on a world map where countries are denoted by their foremost corporate entities, it is unarguable that FirstBank would be the company eminently representing Nigeria on that map?

 

 

Culled from Leadership Newspaper

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Absence Of Oba Otudeko, Bisi Onasanya, Others Stalls Arraignment Over N12.3Billion Fraud As Otudeko’s Lawyer Protests In Court

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37 mins ago

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January 20, 2025

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The counsel for Oba Otudeko, Chairman of Honeywell Group, who is facing charges of a N12.3 billion fraud, appeared before a Federal High Court in Lagos on Monday to protest the charge.

Mr. Bode Olanipekun (SAN) informed the court that he was protesting because the charge had not been served on Otudeko or the two other individuals charged alongside him, the News Agency of Nigeria reports.

Olanipekun informed the court that, despite not being served with the charge, the defendants were shocked to learn about the planned arraignment through the media when the story broke last Thursday.

The 13-count charge was filed by the Economic and Financial Crimes Commission (EFCC) against Oba Otudeko, former Managing Director of FirstBank Plc. Olabisi Onasanya, and former Honeywell board member Soji Akintayo.

Olanipekun is the counsel for the three defendants.

They were charged alongside the company, Anchorage Leisure Ltd.

 

The EFCC alleges that the defendants obtained the sum under false pretenses.

 

According to the EFCC, the four committed the fraud in tranches of N5.2billion, N6.2billion, N6.150billion, N1.5billion and N500million, between 2013 and 2014 in Lagos.

 

The 13-count charge, filed by EFCC counsel, Bilikisu Buhari, on January 16, 2025, further claimed that the defendants used forged documents to deceive the bank.

Specifically, count 1 accused the defendants of conspiring “to obtain the sum of N12.3Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V-TECH DYNAMIC LINKS LIMITED and Stallion Nigeria Limited, which representation you know to be false.”

 

In Count 2, it was alleged that the defendants, on or about 26th day of November, 2013 in Lagos, “obtained the sum of N5.2 billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V TECH DYNAMIC LINKS LIMITED which representation you know to be false.”

 

The 3rd count alleged that the defendants, between 2013 and 2014 in Lagos, obtained N6.2billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited, which representation you know to be false.”

 

In the 4th count, they were accused of conspiring to spend the N6.15billion, out of the monies.

According to the Commission, the offences contravened Section 8(a) of Advance Fee Fraud and Other Fraud Related Offences Act 2006 and was punishable under Section 1(3) of the same Act.

Counts 5 reads: “That you, Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about 11th day of December, 2013 in Lagos, procured Honeywell Flour Mills Plc to retain the sum of N1.5 billion, which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretense and you thereby committed an offence contrary to Section 18(c), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.”

Meanwhile, Otudeko had reportedly fled Nigeria ahead of his scheduled arraignment on fraud charges.

 

According to TheCable Newspaper, Otudeko’s exit from the country is linked to the mounting legal pressures and financial disputes he is facing.

The newspaper reported that the businessman left the country via one of the land borders.

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Loan controversy: Bisi Onasanya’s lawyer condemns media trial….Judge adjourns case to February 13

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1 hour ago

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January 20, 2025

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In line with his resolve to defend himself and clear his name, Dr. Bisi Onasanya through his lawyer, Adeyinka Olumide-Fusika, SAN, at a session at the Federal High Court Lagos on Monday, January 20, 2025, demanded the service of proof of evidence and summons.

Onasanya, a chartered accountant and a former Group Managing Director of First Bank is defending himself against a controversial loan that allegedly occurred at First Bank 12 years ago. The retired banker is refuting the allegations alongside three others namely former Chairman of the bank, Chief Oba Otudeko, a former board member of Honeywell, Soji Akintayo, and a firm, Anchorage Leisure Ltd.

At a hearing at the Federal High Court in Lagos on Monday, Fusika condemned the media trial his client had been subjected to, saying he was not formally invited by the EFCC or served a notice of the charge.

He expressed surprise at seeing news stories in major newspapers linking Dr Onasanya to a trial on loan controversy during his time as First Bank Group Managing Director without prior notification.

“My Lord, it is concerning that my client has been unduly exposed to media trial without being formally served. This is a procedural anomaly that undermines his right to a fair hearing and personal dignity,” Olumide-Fusika said.

The prosecuting counsel, Rotimi Oyedepo, denied any involvement by the EFCC in the media coverage of the case.

He stated that the commission had not issued a press statement and suggested that journalists may have obtained information through other means.

“My Lord, we disassociate ourselves from any media reports,” Oyedepo said.

The EFCC also applied for an ex parte motion to issue a bench warrant for the defenders’ arrest and sought permission to serve them through substituted means, alleging they had evaded service.

Olumide-Fusika opposed the motion, arguing that his client had always been available and had not evaded service. Demonstrating his determination to clear his name, the senior lawyer prayed to the court to have the EFCC serve the charge and the proof of evidence in the open court.

“This application is unwarranted and speculative. My client has neither avoided service nor absented himself from this matter. The claims of the prosecution are baseless. Since I am here and my client is ready to go ahead with this case, I ask to be served the charge and the proof of evidence here in the court,” Olumide-Fusika argued.

Justice Chukwujekwu Aneke, who presided over the case, dismissed the EFCC’s motion for substituted service on Onasanya since he has accepted to be served in the open court.

The judge consequently ordered that the EFCC serve Olumide-Fusika the charge and proof of evidence in open court.

The EFCC complied with the directive, and Olumide-Fusika who confirmed the receipt of the document extracted a confirmation from the prosecution counsel that the proof of evidence submitted is exhaustive and there wouldn’t be an addendum. The defence counsel said EFCC’s confirmation should be on record, insisting that his client was ready to defend himself and clear his name.

Justice Aneke adjourned the case to February 13, 2025.

It will be recalled that Onasanya, through his Communication Advisor, Mr Michael Osunnuyi, had earlier dismissed allegations, describing the claims as baseless and an attempt to tarnish Onasanya’s stellar reputation for professionalism, integrity and humaneness.

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Abuja-Lagos Super Highway Project faces threat as two consortiums engage in battle for FG’s nod

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1 hour ago

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January 20, 2025

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AEC Unity Network Limited, the officially recognised concessionaire for the Abuja-Lagos Super Highway and High-Speed Train projects, has denied any association with an entity known as AEC-Geofocus Consortium (Geofocus).

AEC Unity Network clarified that Geofocus has no role in the planning, financing, construction, or operation of the 470-kilometer superhighway and high-speed rail projects, which are part of President Bola Tinubu’s Renewed Hope agenda to boost national infrastructure.

In a statement released on Sunday, the company emphasised that it is the sole concessionaire authorized by the Federal Government of Nigeria, having received approvals from the Federal Ministry of Works, the Federal Ministry of Finance, and the Infrastructure Concession Regulatory Commission (ICRC).

Barrister Ayodeji Ademola, legal consultant for AEC Unity Network, said in the statement that AEC-Geofocus has no basis whatsoever to make any claim in relation to the Super Highway project, having not been part of its conception from the onset.

In the statement, AEC Unity Network reaffirmed that it is the sole concessionaire authorised by the Federal Government of Nigeria to design, finance, construct, operate, and maintain the 470-kilometer superhighway and high-speed rail linking Abuja and Lagos.

According to the statement, the company’s approvals are from the Federal Ministry of Works, the Federal Ministry of Finance, and the Infrastructure Concession Regulatory Commission (ICRC).

The reaction by the AEC Unity Network may have been informed by media publications credited to one Engineer Mutiu Yinka Idris, who asserted that AEC-Geofocus was in charge of the project for the federal government.

Idris, who claimed to be Director of Operations for AEC-Geofocus, had in the publication described the company as a consortium of engineers, planners, and investors that had successfully attracted $16 billion from Middle Eastern investors, with additional interest from European financial institutions and the World Bank.

He had also claimed that the financial framework was designed to minimize government expenditure, safeguard public funds, and prevent cost overruns through an efficient risk-sharing mechanism.

Idris had assured stakeholders of a grand project flag-off before February 2025, reiterating AEC-Geofocus’ commitment to delivering world-class infrastructure.

“The $16 billion project will be led by AEC-Geofocus, a consortium of engineers, planners, and investors, and plans have been concluded to commence it by February this year, 2025,” Idris had asserted.

He said that the Lagos-Abuja corridor, spanning approximately 500 kilometers, will connect Lagos, Ogun, Oyo, Osun, Kwara, Kogi, and Niger states before reaching Abuja, under a design, Build, Finance, Operate, and Maintain (DBFOM) model.

But in its sharp reaction, AEC Unity Network expressed surprise at the emergence of AEC-Geofocus out of the blue to make claims on a project it was never part of.

Part of the statement read: “We emphatically state that AEC Unity Network Limited has no relationship whatsoever with AEC-Geofocus Consortium or Geofocus. Any claims made by Geofocus regarding involvement in the projects are ‘spurious and false.’”

“We categorically state that AEC Unity Network Limited has no relationship whatsoever with Engineer Mutiu Yinka Idris or Geofocus.”

“These fraudulent claims are completely at variance with our proposed infrastructure plans and are intended to confuse and defraud unsuspecting stakeholders,” the statement added.

The statement by Engineer Mutiu Yinka Idris, who claimed involvement in the projects on behalf of Geofocus in several media outlets and amplified on social media, is baseless and an attempt to mislead the public.

The company warned investors and the public to disregard any media advertisements or reports from Geofocus, describing them as unauthorized and misleading.

AEC Unity Network stated that its project is still in the planning stages, with no concurrent developments on the same corridor by any other entity.

To prevent confusion and potential fraud, AEC Unity Network urged local and foreign investors to verify information only through its official channels and avoid engaging with Geofocus on matters relating to the Abuja-Lagos Super Highway and High-Speed Train projects.

This infrastructure initiative, which includes a direct expressway and rail connection between Abuja and Lagos, is expected to enhance transportation efficiency and foster economic growth.

AEC Unity Network reiterated its commitment to transparency and professionalism, urging the public to engage only through its official channels for accurate information about the projects.

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