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Category Archives: Business

10 Factors That Gave Diamond Top Job To Uzoma Dozie

UZOMA-DOZIE1.     Its natural to believe he got the job as son of the owner, well….. that may be a factor, but yet there are others.

The Board of Directors of Diamond Bank has announced the resignation of Dr Alex Otti effective October 30th 2014 and the appointment of Mr. Uzoma Dozie as its new Group Managing Director effective November 1st 2014. 

The Bank’s Board approved the appointment of Uzoma Dozie as Group Managing Director/ CEO- designate subject to CBN approval.

 2.     Uzoma Dozie who is 45 years old, began his banking career 20 years ago spanning various roles and functions related to Credit and Marketing, Planning and Financial Control and Business Process Re-engineering.

3.     He is currently the driving force behind the Bank’s market leadership in the Nigerian Retail Banking space, championing major innovations in e-banking (Diamond Mobile app), banking the un-banked (Diamond Yello and BETA proposition) and masterminding the strategy for promoting a seamless transition to a cashless economy.

 4.     Uzoma Dozie graduated in 1991 with a Bachelor of Science degree in Chemistry from the University of Reading, Berkshire England. He obtained a Master of Science degree in Chemical Research from University College, London in 1992. As he progressed in his professional career, he enrolled at the Imperial College Management School, London, where he obtained an MBA with specialisation in Finance (MBA finance) in 1998.

 5.      He started his banking career from Guaranty Trust Bank Plc in 1993 where he worked in the Commercial Banking Unit, and later moved to Citizens International Bank Limited where he worked in the Oil and Gas Division. In 1998, he joined Diamond Bank Plc as an Assistant Manager and Head of the Bank’s Oil and Gas Group where he expanded the Bank’s Oil and Gas businesses.

 6.     Having acquired years of experience in business development,  Uzoma moved to the Financial Control Group of the Bank in 2000 and rose through the ranks to become the Bank’s Financial Controller. As the Financial Controller, Uzoma was charged with the responsibility of managing the Bank’s balance sheet, developing various MIS reports and reporting the Bank’s financial records to regulatory authorities. While in Financial Control, Uzoma served in various Management Committees including the Assets and Liabilities Committee, Cost Management Committee, Personnel Management Committee, New Products Committee, Management Credit Committee, and other ad hoc Committees at various times. He implemented various initiatives including laying the foundation for the deployment of paperless office programs and improved Management Information Systems.

7.      In 2004, Uzoma spent time with the Amalgamated Bank of South Africa (ABSA) where he was exposed to the rudiments of Retail Banking and Wealth Management, Organizational Behaviour and Human Resources Management. Upon his return, he set up the Personal Banking Group with focus on offering propositions to the Affluent and Mass Market customer segments (Retail Business). Uzoma developed various partnerships with business franchises for retail business growth, created market awareness and developed various retail propositions to drive liability generation.

8.      Following his success in Personal Banking, Uzoma was appointed an Executive Director in 2006. In 2008, he was reassigned the Corporate Banking portfolio where he was responsible for managing and developing relationships in Oil and Gas, Power, Infrastructure, Construction, General Commerce and Manufacturing businesses. In 2010, Uzoma’s responsibilities were expanded to include acting as the Bank’s Chief Financial Officer (CFO) following the retirement of the erstwhile CFO. As the acting CFO, Uzoma oversaw the Bank’s corporate strategy, Financial Management, Business Transformation and Investor Relations.

9.      In February 2011, following the appointment of a new CFO, Uzoma’s responsibility was modified to cover Corporate Banking and all Businesses in Lagos and West regions. While in charge of Corporate Banking and Regional Business, Lagos, Uzoma developed and nurtured business clienteles in the middle market and national corporate segments, in addition to his corporate banking functions.

10.     In January 2014, he was re-assigned to the Retail Banking Directorate and appointed Deputy Managing Director in April 2014. During his banking career, Uzoma attended various local and offshore training programs including the High Performance Leadership Program in IMD International, Sao Paulo, Brazil; Program for Management Development at Harvard Business School; Credit Risk Analysis and Management at Citibank, New york. He is currently the Secretary of Harvard Business School Alumni Association of Nigeria (HBSAN).

 The Board believes that Uzoma’s wealth of experience, remarkable leadership skills and strong mentorship capabilities will serve to help the Bank achieve its short and long term goals especially in the highly competitive Banking industry in Nigeria.

Diamond Bank Empowers Nigerian Youths With World-Class ICT Skills

As part of its Corporate Social Responsibility (CSR) initiative, Diamond Bank Plc is empowering 100 Nigerian youths in selected tertiary institutions, with top-of-the-range Information Communication Technologies (ICTs) and Entrepreneurial Skills. At the completion of the three months training programme, the trainees would have learnt and internalised world-class ICT knowledge and skills that would help them face the future with predictable successful outcome.

Ayona Trimnell, Head, Corporate Communications of the Bank, stated that this year’s ICT capacity building programme is scheduled to hold in the South-Eastern part of Nigeria from October to December 2014, noting that preparing and fortifying the youths for the future with the requisite up-to-date ICT knowledge and skills, is one of the surest ways to guarantee certainty, and bring Nigerian youths to play and compete at the global stage.

According to her, “Our activity in this area focuses on training and equipping students of tertiary institutions in the states across the country with (ICT) and Entrepreneurial Skills. The training will not only provide the youths with practical skills that makes them employable but will also serve as a source of livelihood through ICT skills development”.

Trimnell stated further that Diamond Bank is particularly interested in young people because they hold the key for providing superior value and technology-based innovation for the future; and represent the strategic vision of the Bank’s operations; therefore are a core of its strategic focus.

It could be recalled that the first edition of the ICT capacity training programme held in October 2013 with 100 students from two tertiary institutions in Uyo, Akwa Ibom State benefitting from the training scheme.

The initiative is being implemented in partnership with Paradigm Initiative of Nigeria (PIN), a social enterprise organisation that connects underserved Nigerian youths with ICT opportunities. The capacity training initiative will highlight the ill effects of unemployment and cybercrime among other vices that limit the potential contribution of young Nigerians to the nation’s economy. On behalf of the Bank, PIN provides trainees withcontinued post-program mentorship and support for a period of six months after graduation.

Access Bank Wins ‘Most Sustainable Bank’ Award

herbert wigwe

Access Bank Plc has emerged the winner of the 2014 World Finance, UK Magazine “Sustainable Bank in Nigeria Award”.

The award recognised the bank’s leadership in the sustainability space in Nigeria and Africa, the bank said in a statement.

The bank has been widely praised for focusing on financial inclusion, providing 30,000 children under the age of nine with banking services, as well as female empowerment, diversity and investment in the local Nigerian community, according to the statement.

Access Bank said its emergence as the winner of the award signalled the growing commitment of Nigerian, and indeed African banks to the adoption of responsible business practice and incorporation of environmental, social and governance considerations into the different facets of their operations.

The Group Managing Director and Chief Executive Officer, Access Bank Plc, Mr. Herbert Wigwe, said, “We are delighted and honoured to receive this prestigious award. We dedicate this award to all financial institutions in the developing and emerging markets, which despite the challenges have chosen to pursue environmental, social and governance best practices.”

According to the statement, World Finance Banking Awards recognise the names that have really spearheaded the transformation and continue to inspire positive change in banking.

This year’s award takes a look at the individuals and organisations that are responsible for banking’s biggest comeback and also helped in changing the shape of the banking industry for the better.

Access Bank said since its inaugural edition in 2005, the World Finance Sustainable Banking Awards had gained an overwhelming acceptance as evidenced by the increase in the total number of entries received and participating institutions and countries yearly.

Arguably, it is one of the most prestigious global banking awards that significantly promotes best practice in triple bottom line banking, the statement said.

4 Fantastic Benefits Of UBA’s New Deal Expounded

 

Phillips Oduoza, UBA - MD
International businessmen, financial experts and economists are talking about four major benefits why the deal is superb:
United Bank for Africa Plc has announced a deal with Ixaris and its Nigerian partner, Ojapay, to deploy a virtual card platform across its 20 African markets.

The bank said it would use Ixaris Payment Server to deliver innovative payment options for individuals and corporate.

The e-commerce market in Africa is predicted to reach $75bn by 2025. However, many consumers and businesses across the continent currently lack a secure, convenient and low-cost means to make purchases online.

To take a share of the market opportunity, UBA selected Ixaris Payments Server to deploy payments programmes based on virtual prepaid cards.

The Deputy Managing Director and Chief Executive Officer, UBA Africa, Kennedy Uzoka, said in a statement, “We have partnered Ixaris and Ojapay to make this convenient payment option available to customers because virtual cards are not only easy and convenient to use but also protect users against online fraud. They will offer our customers across Africa a new layer protection and security for their online transactions.”

According to the statement, UBA’s new virtual card option will enable more than 10 million customers across 20 African markets to make safe and easy online purchases at any online merchant worldwide.

It added that the new virtual payment card would also enable the bank’s corporate clients to take advantage of the wider range of goods and services available on the Internet, while also enhancing internal controls through full traceability of purchasing and payments activities.

Virtual cards work in the same way as plastic payment cards, but are issued in electronic rather than physical form, according to the statement.

It added that they had now become the payment instrument of choice for a range of flexible solutions for payments-related problems faced by consumers and corporate organisations in many regions of the world.

“Virtual cards offer our customers an exciting new option to securely consummate their transactions. As one of Africa’s leading banks, we are proud to offer customers another innovative payment solutions. The changing dynamics of the African banking industry means that we have to constantly seek value-adding partnerships that meet the financial challenges faced by our customers,” Uzoka said.

The Founder and Chief Executive Officer, Ixaris, Alex Mifsud, said, “We are excited to be working with UBA, one of the most respected banks in Africa, to help bring safe and convenient e-commerce to millions of people who can really benefit from it.”

Make 1.2 Million Monthly, Hidden Secret Revealed

naira money

It’s the INFORMATION age coupled with the jet age. A lot of things have changed as against the old school ways. In the past, we were told to “go to school, secure First Class or Second Class Upper, get a good job, and you will live a good life.”

         In reality, this isn’t the case anymore. In the 1970s, 80s and even the 90s, the above statement was valid. You know why? Before you write your final exams, good companies would have lined up to employ you. The reason is obvious.

        There were lesser graduates then and there were
many Companies in Nigeria back then.

       But now, the reverse is the case. For this reason, many Young Nigerians have to find their square roots. Securing a First Class’ Degree is no longer a guarantee that you will have a dream job and live a great life. Fact!

       It’s the INFORMATION age and internet marketing is booming if you learn the ins and outs. Dozens of Nigerian youths have made names for themselves using the power of the internet. I am going to pick on some of these young Nigerians who are doing really great and expose their success secrets to you in this article.

        Their achievements in a single year is worth more than what an average Nigerian (take a banker who earns 200k/mnt as example) will earn in 5years. It’s amazing when you see young hardworking guys earning legitimately online.

       I can personally count a dozen of these guys that recently bought their first car or added another car to their garage. They all have a hidden secret! A positive one that you and i can explore to also achieve greatness soonest.

     There is a secret behind these young Nigerian Internet Marketers changing and Buying cars like t-shirts. Many wouldn’t reveal the hidden secret but, i will!

 Yahoo Yahoo? No!

       Funny enough, when you and i hear about making money online, the first thing that comes to mind is yahoo yahoo. You have been sold the lie! Because of the activities of criminals/ scammers online in the early years of the advent of Internet in Nigeria, many have mistaken anything online money making as scam or illegality.

 Genuine and Legitimate Internet Biz…

      If the owner of FACEBOOK, GOOGLE, TWITTER, FIVERR etc earns legitimate income online, Nigerians also earn Legitimate income online.

      The list of guys i have above include those YOUNG NIGERIAN NETPRENUERS who pride themselves doing legitimate, clean and profitable internet biz.

 What are these guys’ Secrets?

       They (we) are all into Information Marketing. Believe me or not, that’s theHIDDEN SECRET. Many of these guys don’t reveal this to you except you are smart enough to pick the idea by understudying them.

      You may want to ask “what is information marketing?”

       A quick search on google.com for the web definition gives Information Marketing as “The process of selling information-based products.”   

Take for example, you may create a simple 13page Information product (ebook) which teaches:

  •  how to get loan up to N200,000 from microfinance bank

  • how to import goods from abroad and sell for profit

  • how to satisfy your woman in bed

  • how to cure mouth odour

  • how to secure admission into foreign schools

  • how to make money watching football

(The funny thing is that you may not personally create any of the information product yourself)

 You’ll be rich!       

        Once you have the information product, a website in place and you learn different ways of advertising your information products to your target audience, a fraction of them will buy your information product and guess what? You’ll be rich!

       Take for example, i created a product “A-z of importation biz guide“.

        I sell for N6,500. I have a website where i sell it. In a month, i got 10,000 traffic to my website. Out of every 200 visitors to my website, i make a sale. In 10,000 visitors, i will make 50 sales. This means i can earn N6,500 x 50 = N325,000.

     What if i had up to 20,000 visitors to my website  in that single month? It means my income could double to N650,000.

What if i have 2, 3 or 4 different INFORMATION PRODUCTS i sell that bring that kind of result?

Can you now see how these guys earn good income online and change cars like t-shirt?

      Honestly,

       These guys weren’t born with this knowledge that now fetch them good income online and make them live their dream lives.

       If you would love to learn all that INFORMATION MARKETING entails within the next 7days via my daily newsletter,

  • The Tricks,

  • The Strategies

  • The Technique and

  • The marketing skills

Dangote Conquers Dubai With Multibillion dollars Investments

aliko dangote

Africa’s richest man, Alhaji Aliko Dangote, said further deals with the Investment Corporation of Dubai might run into billions of dollars after the Emirati holding company invested $300m in his cement business last month.

“We have also agreed to invest in other ventures in oil and agriculture,” Dangote said on Wednesday in an interview at a conference in Dubai, according toBloomberg News.

“They already have a seat on our board. This could run into billions of dollars. There are a lot of opportunities that we are looking at with ICD.”

ICD is exploring opportunities to work with the Nigerian billionaire after taking an unspecified holding in Dangote Cement Plc last month, its first major Africa investment, ICD Chief Executive Officer, Mohammed Al Shaibani, also said on Wednesday in Dubai.

The company is diversifying its investments, which include Emirates airline and Emaar Properties.

Dangote, whose cement and commodities businesses built him a $23.1bn fortune, according to the Bloomberg Billionaires Index, partnered with the private-equity firms Blackstone Group and Carlyle Group in August for Africa investments.

He is planning to spend about $3bn to boost production of sugar and rice at his companies, he said.

Dangote’s cement business, the biggest producer in Africa, has the capacity to produce 29 million tonnes in Nigeria and is planning to expand in 13 other countries on the continent.

The billionaire is bidding for gas assets in Nigeria, Africa’s largest economy, to help stem continuing disruptions to his cement plants in the West African nation.

He’s also building a $9bn oil refinery and petrochemical complex in Nigeria’s southwest that is scheduled to be completed in 2016.

“We are looking forward to doing more with Dangote, and we have some things that we are exploring at the moment,” ICD’s Al Shaibani said. “Having the right partner, especially in Africa, is the key thing.”

Nigeria relies on fuel imports to meet more than 70 per cent of its needs. Four government refineries with a combined capacity of 445,000 barrels a day are operating at a fraction of that because of poor maintenance and aging equipment.

Dangote’s businesses offer “huge growth potential and we saw this as the right moment to come in,” Al Shaibani said.

Diamond Bank Launches First Diamond Woman Enterprise Seminar in Ibadan

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Diamond Woman proposition, an initiative by Diamond Bank PLC aimed at empowering women economically, launched the first edition of its Enterprise Seminar in Ibadan, the Oyo State capital, recently. The Seminar, organized in partnership with the Enterprise Development Centre (EDC) of the Pan Atlantic University, provides financial and advisory services, access to market opportunities and networking platforms to female entrepreneurs.

Welcoming participants to the event, Aisha Ahmad, Head, Retail Financial Services, Diamond Bank PLC, said that the idea of the Diamond Woman Enterprise Seminar is informed by Diamond Bank’s desire to ensure that Nigerian women are well empowered to join the growing global female economy.

According to her, “Research shows that about 50 per cent of new businesses are set up by women. Realizing the unique needs of this key segment of the population, Diamond Bank deemed it necessary to empower them with business management skills and networking opportunities to fulfill their life goals.”

“The Diamond Woman Enterprise Seminar provides a unique capacity building platform to better position our female entrepreneurs as they multitask in their various roles as home makers, career women and business owners,” she added.

Anna Gincherman, Chief Product Development Officer, Women’s World Banking, a nonprofit organization that provides strategic support, technical assistance and information particularly to women entrepreneurs in developing countries, lauded Diamond Bank’s efforts at bridging the gaps confronting female entrepreneurs.

She said: “Women’s World Banking is proud to be associated with Diamond Bank for providing access to financial services, financial education and knowledge to Nigerian female entrepreneurs. These are the areas where women entrepreneurs are most challenged and Diamond Bank is bridging the gap.”

Nneka Okekearu, Deputy Director of the EDC, noted that, “a major problem in women-owned businesses is the non-adherence to a systematic pricing structure, which does not augur well for sustainability.” She expressed optimism that the knowledge acquired in the seminar will help the women adopt better practices that will help them make profit and grow their businesses successfully.

The Ibadan event had about 400 women entrepreneurs in attendance. The seminar was themed: The basics of product pricing-getting it right from the beginning.

Keystone Bank’s New Innovation: ATM For Physically-Challenged Customers

Phillip-Ikeazor, keystone bank md

Keystone Bank Limited has introduced Automated Teller Machines for physically-challenged persons in the society.

A statement by the lender quoted its Executive Director, Operations and Technology, Mrs. Yvonne Isichei, as saying that the bank had built its first ATM gallery meant for the physically challenged at its Maryland branch.

Isichei said, “It is all about touching the lives of people, to demonstrate our commitment to financial inclusion as a developmental goal as well as to align with the goal of sustainable banking, which is all about being conscious of the needs of those around its (the bank’s) environment.”

She noted that some bank customers had experienced difficulties using ATMs, especially the physically challenged.

“We want to make financial services accessible. Financial inclusion is about encouraging everybody, taking it near the people as much as possible. It is about our channels and their workability. It is supposed to make life easier,” the Keystone Bank Executive Director explained.

She added that the level of financial inclusion had continued to grow, expressing optimism that the 2020 target of achieving significant improvement in the level of financial inclusion would be met with structures such as the bank’s ATM gallery for the physically challenged.

“We are happy to know that there has been an appreciable progress, but we still have a long way from achieving a 70 per cent financial inclusion, which is the objective of vision 2020,” Isichei said.

The Chairman, Spinal Cord Injuries Association of Nigeria, Mr. Obioha Ononogbu, who was also at the event, urged other banks to emulate the bank.

He said, “The world is for everybody, you don’t have to exclude some people. The disabled should also have the opportunity to benefit from banking facilities.

“The most important aspect is that it is made accessible for people on wheel-chair. I think that is the highlight of this system. This is a very good one for us that are on wheel chairs, so that we can have access and do it ourselves and not depending on anyone.”

Pixs From First City Monument Bank (FCMB) Limited 30th Anniversary Promo Reloaded

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picture 3                                       DSC_08823.                                                                                                                    4.

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Pix 1 caption

From right: First City Monument Bank (FCMB) Limited’s Zonal Head for Owerri, Mr. Okey Ogelle; winner of an LED television at FCMB’s 30th Anniversary Promo Reloaded in the South-east/South-south Regional draw, Mr Idemudia Airuoyuwa and the Commandant of the Nigeria Security and Civil Defence Corp in Edo State, Mr. Mr. Haruna Idris, at the promo draw held in Benin City, Edo state on September 17, 2014.

Pix 2 caption:

From left: One of the winners at the Lagos and South-west Regional draw of the First City Monument Bank (FCMB) 30th  Anniversary Promo Reloaded, Mr. Kolapo Faweya of the Nigeria Prisons Service; the traditional ruler of Iludun-Ekiti, Oba J.K Akinola; FCMB’s Zonal Head for South-west 2, Mr. Adelaja Adeleye and the Bank’s Head of Retail for South-west 2, Mr. Victor Adejimola, at the promo draw held at Ado-Ekiti, Ekiti state on September 17, 2014.

Pix 3 caption:

From left: The Branch Manager, Ado- Ekiti of First City Monument Bank (FCMB) Limited, Mr. Matthew Ofulue; winner of an LED television at FCMB’s 30th Anniversary Promo Reloaded in the Lagos and South-west Regional draw, Corporal Adebayo Hosu; the Bank’s Head of Retail, South-west 2, Victor Adejimola and the FCMB’s Corporate Affairs/Media Relations Officer, Mr. Rafiu Mohammed, at the promo draw held at Ado-Ekiti, Ekiti State September 17, 2014.

Pix 4 caption:

From left: The Executive Director, North, of First City Monument Bank (FCMB) Limited, Mr. Adam Nuru; the winner of N1million at the North Regional draw of the FCMB 30th Anniversary Promo Reloaded, Mr. Chide Oguh Momoh and the Bank’s Head of Corporate Communications/CSR, Mrs. Uchenna Mojekwu, at the promo draw held in Abuja on September 17, 2014.

The third monthly draws of the First City Monument Bank (FCMB) Limited 30th Anniversary Promo Reloaded took place across all the Bank’s Regional and Zonal operations nationwide on Wednesday, September 17, 2014.

 At the end of the electronic selection of winners exercise, 133 customers of the Bank smiled home with cash prizes, LCD televisions sets, generators, DVDs and GOtv decoders at the event that was witnessed by officials of Consumer Protection Council (CPC), National Lottery Regulatory Commission (NLRC) and other dignitaries including community leaders and government representatives.

 The latest customers to win the monthly star prizes of N1 million are Oshodi Taiwo Folusho (Lagos and South-west region), Chide Oguh Momoh (Northern region) and Abanokwu Augustine (South-east/South-south). With the latest winners, FCMB has so far rewarded several customers in the promo ahead of the grand finale draw in October, where three lucky customers will each drive home brand new SUVs. The winners were unanimous in their praises for FCMB and commended the bank for its unblemished history in fulfilling its promise to customers. In particular, winners of the N1 million star prizes promised to utilise their millions judiciously.

Access Bank MD Wigwe’s Tenure Rated Low, As Bank Gets NSE Suspension

herbert wigwe

Not a few shareholders of Access Bank are poise for showdown at the next shareholders meeting slated for October 13, 2014 over the dwindling fortune of Access Bank since the current MD took over the mantle of leadership.

Aside high rate of Staff corruption, payment of fines to CBN are grounds for their grouse. Just yesterday, Access Bank has been suspended technically from the Stock Exchange Market.

The Nigerian Stock Exchange on Monday approved the technical suspension of the shares of Access Bank Plc to enable the bank to preserve shareholders’ value as it moves to raise up to N68bn additional capital.

According to the Exchange, technical suspension is the interruption of price movement in listed shares for a specified period so that any dealings in the shares which occur during the period of the suspension will not result in change in price.

The Exchange explained in a statement posted on its website that it granted “anticipatory approval” for Access Bank’s shares to be placed on technical suspension following an application made by the bank.

It added, “The bank will hold an Extraordinary General Meeting on Monday, October 13, 2014 to seek its shareholders’ authorisation for the Board of Directors to raise additional equity capital in the sum of up to N68bn by way of a rights issue.

“The board believes that the technical suspension is in the overall interest of the bank’s shareholders and will preserve the shareholders’ value, on account of the proposed corporate action.”

According to the Exchange, the technical suspension will be lifted on January 27, 2015 and normal trading activities will resume on January 28, 2015.

Access Bank shareholders had on May 30 at its 25th Annual General Meeting approved plans by the bank to raise $1bn to strengthen its operations and enable it to achieve its goal of becoming one of the top three banks in the country.

The bank had explained at the yearly meeting that the amount would be raised in tranches at a date to be determined by its directors.

Access Bank had in June issued a $400m Eurobond.