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First Bank Unveils Activities for CRS Week

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First Bank of Nigeria Ltd. has announced plans for the fifth edition of its Corporate Responsibility and Sustainability (CRS) Week.

The bank’s Group Head, Marketing and Corporate Communications,  Mrs Folake Ani-Mumuney, said this in a statement on Sunday in Lagos.

The statement said that the event slated for Aug.

22 to 27, would offer employees opportunities to give their time and resources to defined causes in line with the bank’s CRS strategic approach.

It said that the theme of the event: “Kindness, A Way of Life”, reflected the single-minded purpose to make a difference in the world by inspiring and institutionalising kindness.

The statement said that the week-long event commemorated across business communities in Nigeria, United Kingdom, Democratic Republic of Congo, Ghana, Gambia, Guinea, Sierra-Leone and Senegal, was fast becoming a household name in the bank’s host economies.

“The FirstBank CRS Week is a dedicated week designed to offer opportunities for employees to give their time and resources to defined causes in line with the bank’s CRS strategic approach.

“The CRS Week will offer employees opportunities to give their time and resources to defined causes.

“The week’s activities are an aspect of the bank’s Employee Giving and Volunteering Programme, which was instituted to encourage employees to give back to the community as well as inculcate in them the integral corporate culture of giving,” It said.

The statement noted that the maiden edition of the bank’s CRS week which held in 2017 with a focus mainly on three key initiatives/activities, had become more successful in subsequent years.

It said that giving and visits to orphanages/less privileged homes/IDPs, career counselling day; and Staff Promoting Acts of Random Kindness (SPARK) initiative – which is now Start Performing Acts of Random Kindness were activities it focused on in the previous years.

The statement said that this year’s would have five main activities to be implemented in Nigeria, FBNBank UK and across the SSA markets.

It said that these activities included SPARK APP, Kind Comments Day, visits to orphanage/less privileged homes, SPARK School Engagement, and Women Economic Empowerment.

The statement disclosed that the major highlight of the week would be the launch of the SPARK App.

“The app is strategic in the bank’s journey to institutionalise “A Day of Kindness” on a national level, and globally position the bank as a corporate citizen in leveraging new media to drive sustainability practices.

“The SPARK App is a sensational application designed to have individuals abreast with the act of kindness through various kindness-based quotes and inspirational phrases that will be displayed on one’s phone screen, especially when the phone is idle.

“Kind Comments Day is an initiative that focuses on inspiring and encouraging everyone to be deliberate with the use of kind words in relating or interacting with anyone.

“In addition, with Women Empowerment, the bank will support VVF patients in need of surgical operations and also empower them with vocational skills as they integrate back into the society,” it said.

It added that the SPARK Schools Engagement would be implemented through the national competition of JAN SPARK School Integration, aimed at rewarding the various participating students.

The Managing Director/Chief Executive Officer, FirstBank, Dr Adesola Adeduntan, was quoted by the statement as saying that the CRS Week would afford the bank another opportunity to touch more lives.

“The CRS Week is another opportunity to strengthen our commitment and extend our reach beyond the communities where we operate in Nigeria and across our subsidiaries.

“Over time, our goal has stayed the same, to create platforms through which our positive impact is felt.

“For us in the FirstBank Group, beyond saying that we care, we take a step further and show it,” Adeduntan said.

He said through the years of commemorating its annual CRS Week, FirstBank had impacted lives across its host communities in Nigeria, the United Kingdom and its SSA subsidiaries.

Adeduntan said these impacts comprised the partnership with the Lagos State Government on the provision of a Primary Health Centre at Ijedodo Community, Lagos State; engagements with over 60 charities, non-governmental organisations, orphanages, correctional centres, schools and Internally Displayed Persons (IDP) camps.

He said that the partnership resulted in touching the lives of over 20,000 underprivileged individuals including widows, orphans and children with disabilities.(NAN)

Economy

Investors Gain N183bn on NGX

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The Nigerian Exchange Ltd. (NGX) continued its bullish trend on Wednesday, gaining N183 billion.

Accordingly, the market capitalisation, which opened at N59.532 trillion, gained N184 billion or 0.31 per cent to close at N59.715 trillion.

The All-Share Index also added 0.31 per cent or 303 points, to settle at 98,509.

68, against 98,206.
97 recorded on Tuesday.

Consequently, the Year-To-Date (YTD) return increased to 31.

74 per cent.

Gains in Aradel Holdings, Zenith Bank, United Bank For Africa(UBA), Oando Plc, Nigerian Breweries among other advanced equities drove the market performance up.

Market breadth closed positive with 34 gainers and 17 losers.

On the gainers’ chart, Africa Prudential, Conoil and RT Briscoe led by 10 per cent each to close at N14.30, N352 and N2.42 per share, respectively.

Golden Guinea Breweries followed by 9.95 per cent to close at N7.18, while NEM Insurance rose by 9.74 per cent to close at N10.70 per share.

On the other hand, Julius Berger led the losers’ chart by 10 per cent to close at N155.25, Secure Electronic Technology Plc trailed by 9.52 per cent to close at 57k per share.

Multiverse lost 7.63 per cent to close at N5.45, Haldane McCall dropped 6.07 per cent to close at N4.95 and Honeywell Flour shed 5.62 per cent to close at N4.70 per share.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 49.44 per cent.

A total of 320.10 million shares valued at N6.48 billion were exchanged in 7,943 deals, compared with 939.41 million shares valued at N12.81billion traded in 9,098 deals posted in the previous session.

Meanwhile, ETranzact led the  activity chart in volume with 70.27 million shares, while Aradel led in value of deals worth N1.22 billion.(NAN)

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Economy

Yuan Weakens to 7.1870 Against Dollar

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The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday.This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.

The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
(Xinhua/NAN)

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Economy

Bring Kaduna Refinery Back into Operation, Youth Group Urges NNPCL

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Arewa Youths Initiative for Energy Reforms (AYIFER), has urged  Nigeria National Petroleum Corporation Limited (NNPCL)  to do everything possible to bring Kaduna Refinery back into operation.

National Coordinator of the group, Mr Bashir Al’Amin, stated this in a statement issued on Friday in Abuja.

Al’Amin specifically called on the Chief Executive Officer of NNPCL, Mallam Mele Kyari, to do all within his powers to rejuvenate the refinery and bring it up to global standard.

He said that having delivered the Port Harcourt refinery, coupled with the establishment of Dangote Refinery in Lagos, attention should be shifted to Kaduna refinery for easy spread of petroleum products.

“We are calling on Malam Mele Kyari to expedite action on Kaduna refinery so we can be at par with other regions in the country.

“We equally beg the NNPCL to do professional work in rehabilitating the old refinery and deliver a standard and functional petrochemical refinery and not a blending plant.

“Kyari should resist any temptation that could make him do something that can jeopardise his good image,” he said.

Al’Amin said that since the extinction of groundnut pyramid and textiles in Kano State as well as PAN in Kaduna State and with the Kaduna refinery getting moribund, a lot of youths had lost their jobs.

According to him, all their hopes in the north are tied to the legacy refinery, expressing the hope that God would use Kyari to deliver it well and on time.

He said that the group was solidly behind NNPCL in prayer and would be ready to celebrate the company if its expectations were met. (NAN)

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