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FCMB Launches Youth Account, Flexx, Unveils Promo

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First City Monument Bank (FCMB) Limited has introduced a new proposition called Flexx for youths aged 16 – 24 years old. The proposition includes a savings account “Flexx account”, a mobile app, and a debit card. The account is designed to promote a healthy savings culture and promote the use of technology in the conduct of banking services.

The launch took place in Lagos on November 30, 2015 amid much enthusiasm and excitement. The launch event also unveiled the FCMB Flexx account promo, which forms part of the rewards of the account. At the end of the promo season, one of the account holders will smile home with a Hyundai Veloster car, while several others will be rewarded with various fantastic gifts such as smart phones and bursaries. To participate in the promo, all that a Flexx account holder needs to do is to maintain an average balance of N10,000 for the six months period of the promo.

In attendance at the launch event was Tolulope Balogun, the face of Flexx, who won last year’s FCMB Challenge in a youth empowerment contest in fashion and modeling under the auspices of the Dare2Dream project organised by the Bank in partnership with Kinabuti Fashion House.

The Flexx account is an interest bearing savings account that enables youths carry-out all their banking activities in a hassle-free manner without having to step into the banking hall. The account seeks to bring maximum convenience by permitting customers to open the account via the mobile app, online from the FCMB website and at any of the bank’s branches nationwide.

The Flexx mobile app, in addition to providing convenient account opening and banking transactions, will be a channel for peer to peer payments and communication, information dissemination and provision of exciting content (such as employment tips, access to skills acquisition resources, entertainment and recreational information) and special offers exclusive to users of the app. The Chief Executive of FCMB, Mr. Ladi Balogun, explained that the launch of Flexx is as much a statement of substance as it is one of intent. ‘’The platform we are creating through Flexx will be both a community and a channel to bring the best of opportunities to our youth. While our primary objective is to encourage savings and the use of digital channels in banking, we are doing this in an exciting and highly rewarding manner to our customers within the target segment’’, he stated.

Speaking at the launch event, the Divisional Head, Retail Banking of FCMB, Mr. Olu Akanmu, said that the Flexx account, which is a level 2 KYC account is simple, easy to open and can be operated with minimal documentation. He stated that all what is required to open the account is a passport photograph, School or National Youth Service Corps (NYSC) identity card or any document showing that he/she is enrolled for the current academic year.

Mr. Akanmu listed the features of the account to include being zero COT, no monthly maintenance fee, allows for third party deposit up to the tune of N50,000. Holders of the Flexx account would also enjoy an array of benefits. These include issuance of a Flexx branded debit card and customer reward programmes (promo, bursary award, discounts, invitation to entrepreneurial and skills development workshops, career advisory, social media engagements, entertainment etc). Account holders will also have access to internet banking and a unique mobile app giving an enhanced experience and unparalleled convenience.
On her part, the Group Head, Corporate Communications/Youth & Diaspora Segment of the Bank, Uchenna Mojekwu, explained that the selection of Tolulope Balogun as the face of the FCMB Flexx is a demonstration of the commitment of FCMB to empower youths. “Tolulope is a talented youth who won last year’s edition of the Dare2Dream project organised in partnership with Kinabuti. The project is about empowerment which forms part of our Corporate Social Responsibility pillars with the mantra, “teach a man how to fish”. Tolulope won the contest and emerged as our brand ambassador due to the several skills she showcased. She further demonstrated this recently by emerging the winner of the 2015 Fashion Crowd Challenge (FCC) in the modeling segment and will be going to Shangai, China to attend the International FCC. Tolulope continues to strive to live her dream of becoming an international fashion icon and we are excited to have played an integral role in her life.”

First City Monument Bank (FCMB) Limited is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional customer experience, while empowering its customers to achieve their aspirations.

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Controversial Sterling Bank caught in the act! CBN sanctions, parades officials for hoarding new naira notes [VIDEO]

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Officials of the Central Bank of Nigeria (CBN) have discovered N6 million of the new naira notes hoarded in Sterling Bank Plc, Ado Ekiti branch on Bank Road, Ado Ekiti in Ekiti State, having received the funds for over two weeks, THE WITNESS reports.

 

In a trending video on social media, seen by THE WITNESS, a man who identified himself as Oluwole Owoeye, a deputy director of CBN, while monitoring the distribution of the new naira notes in the state, was seen questioning the bank officials as to why they have not uploaded the funds into their Automated Teller Machines, (ATMs), despite having six of the machines in place.

 

The CBN director also announced a fine of N1 million for each day the fund was in the bank’s custody.

 

The CBN official said, “I am currently at Sterling Bank, on Bank Road as part of the new naira notes monitoring compliance with the guidelines by CBN. They have N6 million, which they collected from the bank for almost two weeks, they have not disbursed any. They said they are yet to configure their ATMs, I do not know why that and I have brought attention to the penalty clause of N1 million per day, because they have five ATMs here, they have no reason for keeping this money.

 

“The zonal service manager, Tunde Onipede promised that by 10:00am latest tomorrow (Monday), because I told him by latest 10:00 am I’ll be here and I want to see the machine dispensing this money.

 

“What is the name again? Olumide Owolabi (Service Manager, Ado) & Motunrayo Babayele. My name is Oluwole Owoeye and I am a deputy director of CBN.”

 

WATCH VIDEO HERE:

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FCMB Manager Arrested For Hoarding New Naira Notes

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A manager of the First City Monument Bank (FCMB) branch in Osogbo, Osun State capital, has been arrested for allegedly preventing Automated Teller Machines (ATMs) loaded with cash from dispensing money to customers.

The spokesperson of the Independent Corrupt Practices and other related offenses Commission (ICPC), Azuka Ogugua, in a statement on Friday said the cash bundles were loaded into the ATMs while still wrapped, and as such, could not be dispensed through the machines

“The ICPC Compliance Team in Osogbo has busted an FCMB in Osogbo, Osun State, where some ATMs were loaded with cash with their wrappers un-removed, thus preventing the cash from being dispensed.

“The Team, therefore, directed that the wrappers be removed, and the cash loaded properly’.

Similarly, seven Point of Sale (POS) operators as well as a security guard were arrested during the ongoing exercise in Osun State for charging exorbitant commissions for cash.

Investigations, however, revealed that they got the money from Filling Stations that collect new notes from fuel buyers, but they then resell the cash to the public at exorbitant rates.

The arrested persons are helping the Commission with information to assist investigations and bust any syndicates involved in the hoarding or sales of the redesigned notes.

 

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New naira: ICPC arrests Stanbic IBTC Bank manager over sabotage

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The Independent Corrupt Practices and other related offences Commission (ICPC), has arrested an official of Stanbic IBTC Bank in Abuja for alleged sabotage.

The ICPC spokesperson, Azuka Ogugua, said the development was in continuation of ICPC’s clampdown on elements frustrating efforts in making the redesigned Naira notes available to members of the public.

The bank official, who is the branch service head of Stanbic IBTC Bank, Deidei Branch in Abuja, was taken into custody for her deliberate refusal to upload cash into the branch’s Automated Teller Machines (ATMs) even when the cash was available and people were queuing at the ATM points.

The statement reads: “When the ICPC monitoring team stormed the bank at about 1:30pm on Friday to ensure compliance, and demanded explanation as to why all the ATMs were not dispensing cash, the team was informed by the branch’s head of operations that the bank just got delivery of the cash.

“However, facts available to the ICPC operatives indicated that the branch took delivery of the cash earlier around 11:58am and either willfully or maliciously refused to feed the ATMs with the cash.

“Against this backdrop, the ICPC team compelled the bank to load the ATMs with the redesigned Naira notes and ensured that they were all dispensing before arresting the culprit.

“The ICPC said investigations were still ongoing and the Commission will take appropriate actions as soon they are concluded.

“Similarly, seven Point of Sale (PoS) operators as well as a security guard were arrested during an ongoing exercise in Osun State for charging exorbitant commissions for cash.

“Investigations, however, revealed that they got the money from Filling Stations that collect new notes from fuel buyers, but they then resell the cash to the public at exorbitant rates.

“The arrested persons were helping the anti-graft commission with information to assist investigations and bust other syndicates involved in the hoarding and sales of the redesigned Naira notes,” the anti-graft agency said.

 

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