Economy
FirstBank Pledges N5m Support to Lagos Rotary Club
First Bank of Nigeria Ltd has pledged to support the Rotary Club of Lagos intervention projects with the sum of five million naira.
The Chief Executive Officer of the bank, Dr Adesola Adeduntan, made the pledge at the induction of the 61st President of the club, Rotarian Babawale Agbeyangi, on Friday night in Lagos.
Adeduntan, the chairman of the occasion, said the bank was committed to the development of the eductation sector.
“I am pleased to inform you that FirstBank will be supporting your intervention projects in upscaling basic education and literacy by supporting the provision of school libraries with the sum of five million naira.
“This support is in line with our sustainability drive to improve reading habits in students and further increase the growth and development of Nigeria’s economy.
“I believe that this support will boost the mutually beneficial partnership between the bank and Rotary International.
“As well as help actualise our mutual objectives of growing our people, minimising negative environmental impacts, and investing in the communities in which we operate,” Adeduntan said.
Adeduntan said every opportunity to identify with the Rotary Club was always a pleasure because of its vision of a world where people unite and act to create lasting change across the globe.
While congratulating Agbeyangi for his elevation, Adeduntan commended his commitment to the service of humanity.
He noted that FirstBank was deeply committed to the sustainability of the communities in which it operates.
” Our corporate responsibility and sustainability pillars are hinged on education, health & welfare, financial inclusion, responsible lending and procurement.
“In 2019, the bank was recognised with the “Outstanding Invaluable Company Award,” by The Rotary International.
” The recognition stems from the bank’s impactful corporate social responsibility projects in the areas of education, health, economic and youth empowerment, infrastructure and environment, amongst others, which Rotary considers invaluable in the service to humanity,” Adeduntan said.
He said the bank would continue to support the education sector to enhance economic growth and development of the country.
According to him, at the outset of the COVID-19 pandemic last year, FirstBank strengthened the sector to recover by launching e-learning initiatives aimed at moving one million students across the nation to e-learning.
He added that the bank supported public school students in Lagos State with 20,000 mobile devices loaded with educational curriculum to keep them engaged during the lockdown.
In his welcome speech, Rotarian Babawale Agbeyangi, expressed delight in belonging to a club that had humanity as its focus.
According to him, joining Rotary Club has given him the privilege of belonging to about 1.2 million change makers globally, who live for others.
He said that the club needed about N200 million for the 2020-2021 Rotary year to change lives, community and the environment.
Agbeyangi said the funds would be deployed in building schools for rural communities and provision of interest free loans to women.
“Skip a meal, shelve a holiday, so that we can help women who need access to capital.
” Together, we can change lives,” Agbeyangi said.
Mr Ademola Akinrele (SAN), the guest speaker at the occasion, said that the road to a happy life was service to humanity.
Akinrele noted that most successful people in business and politics derive their happiness in putting smiles on humanity.
He urged Nigerians to imbibe the spirit of giving, especially in contributing to the well being of humanity.
The outgoing president of the club, Rotarian Dare Adeyeri, thanked members for their outstanding contributions.
Adeyeri noted that the club had been able to touch lives in the areas of education, health and environment.
He said that about 47 projects were carried out by the club in the outgoing year as well as the planting of 60 trees along the Lagos-Epe Expressway.
The highlights of the occasion was the investiture of the 61st President of the club by the outgoing president, Rotarian Dare Adeyeri.
Awards were also given to some distinguished Rotarians for their service to humanity.(NAN)
Mr Adegboyega Oyetola, the Minister of Marine and Blue Economy says upgrading the Maritime Academy of Nigeria (MAN), Oron to a university, will unlock opportunities in the maritime economy.
Oyetola made the expression at the 2024 MAN cadets graduation ceremony in Oron, Akwa Ibom on Saturday.
Represented by Mr Babatunde Bombata, the Director, Maritime Safety and Security, the minister said the Federal Government was working assiduously to unlock opportunities within the marine and blue economy.
He said that the ministry was already collaborating with the Ministry of Education and the Nigerian Universities Commission to ensure MAN’s seamless transition to a university.
“It is our hope that this upgrade will unlock new opportunities for advanced learning, cutting edge research and innovation within the marine and blue economy fields,” he said.
Oyetola urged the graduating cadets to be innovative, resourceful and forward looking in their future endeavours.
“The maritime and blue economy sectors are filled with opportunities, so your contributions to the sector will be instrumental in ensuring a brighter future.
“The government is committed to fostering excellence and innovation in these fields, and we eagerly anticipate the positive impact you will make in your careers,” he said.
He further said that the Federal Government was working on developing a national policy on marine and blue economy.
“This policy will serve as a strategic framework to drive economic diversification, attract investments, create jobs and youth empowerment.
In his remarks, Gov. Umo Eno of Akwa Ibom, said the state government would continue to collaborate with the academy to develop the maritime sector.
Represented by the Commissioner for Internal Security and Waterways, Gen. Koko Essien, (Rtd), Eno urged the graduating cadets to utilise their training in developing the maritime sector.
“I am hopeful that you will utilise the training you have acquired here to further your career as seafarers and in the development of our blue economy,” he said.
Eno commended the Acting Rector, Dr Kevin Okonna and his management team for their commitment towards repositioning the academy for greater results.
Earlier, Okonna said that graduates of the institution had contributed immensely to the growth of Nigeria’s maritime and blue economy.
“Today, we have an opportunity to celebrate a new set of well-trained personnel to the maritime and allied industries.
“We pride ourselves as the pioneer maritime training institution, this is because of the institution’s contributions to national development,” he said.
The acting rector urged the graduating cadets to made effective use of the knowledge gained during their training to make meaningful impact on the growth of the maritime sector.
Report says that awards were given to graduating cadets who distinguished themselves in character and learning. (NAN)
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)
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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