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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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Oando Clean Energy, Cross River State, Sign MoU on Renewable Energy Infrastructure

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Oando Clean Energy (OCEL),  the renewable energy business subsidiary of Oando Energy Resources and the Cross River State Government have  signed a memorandum of understanding (MoU) for the rollout of electric vehicles for mass transportation within the state at the ongoing 28th edition Conference of the Parties (COP28) in Dubai, United Arab Emirates (UAE).

The move in setting up an electric vehicle (EV) assembly plant, is expected to create jobs for local indigenes as well as build a 100MW wind plant for power generation.

Representing the Governor of Cross River State, Bassey Otu at the MoU signing was the state’s Commissioner for Special Duties, Oden Ewa, saying the landmark agreement marked a significant step forward in the state’s journey toward a cleaner and more sustainable future. He said: “The MoU paves the way for the transitioning of our mass transit system to cleaner and less expensive fuels while also allowing for the use of our natural resource, wind, to provide electrification for our people.

“I commend Oando Clean Energy for their innovative solutions that address the impact of climate change in Nigeria and her citizens.”

According to Oando , it said,  as  a company, it has committed to ensuring that this journey to a cleaner and more sustainable energy future is as seamless and as easy as possible.

“This is by putting our confidence in, not only the technology but the partnership and ensuring that the Cross River State government and her people reap the benefits of generating power from sustainable sources”. The statement read.

Oando’s Clean Energy’s scope spans the entire 35 states of the federation and the federal capital, promising to create a cleaner, more viable energy ecosystem for Nigeria and the  people of Cross River.

In attendance at the side event were amongst others, Minister of Niger Delta Affairs, Abubakar Momoh;  Minister of the Environment, Abbas Balarabe;  Minister of State for Environment, Dr. Kunle Salako; Commissioner for Special Duties, Cross River State, Mr. Oden Ewa, among others.

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House Of Representatives Issues Warrant Of Arrest On Central Bank Governor, Cardoso, Accountant-General, 17 Others

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The House of Representatives’ Committee on Public Petitions has asked for a warrant of arrest to be issued on the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, the Accountant-General of the Federation (AGF), Oluwatoyin Madein, and 17 others over refusal to appear before it to answer questions on their operations.

It was gathered that the issuance of the arrest warrant was sequel to the adoption of a motion moved by Fred Agbedi, representing Ekeremo/Sagbama Federal Constituency of Bayelsa State on the platform of the Peoples Democratic Party (PDP) at the committee’s hearing on Tuesday.

Agbedi, while moving the motion, said that the arrest warrant had become imperative following the attitude of the invitees, adding that the parliament worked with time and the CEOs had been invited four times but failed to respond to the invitations.

Agbedi said that the CBN Governor, the AGF and the rest of the invitees should be brought to appear before the committee by the Inspector General of Police through a warrant of arrest after due diligence by the House Speaker, Rep Tajudeen Abbas.

The Chairman of the Committee, Micheal Irom (APC-Cross River), in his ruling said that the Inspector-General of Police should ensure the invitees were brought before the committee on December 14.
It was gathered that the petitioner, Fidelis Uzowanem, had earlier said that the petition was anchored on the Nigeria Extractive Industries Transparency Initiative (NEITI) 2021 report.

Irom said, “We took up the challenge to examine the report and discovered that what NEITI put together as a report is only consolidation of fraud that has been going on in the oil and gas industry.

“It dates back to 2016 because we have been following and we put up a petition to this committee to examine what has happened.

“The 2024 budget of 27.5 trillion that has been proposed can be confidently funded from the recoverable amount that we identified in the NEITI report.

“It is basically a concealment of illegal transactions that took place in NNPCL; they have been in a sink with some oil companies where some companies that did not produce crude were paid cash core, an amount paid for crude oil production.”

 

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FCTA uncovers illegal oil refining warehouse in Abuja

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In continuation of the city cleaning exercise, Authorities of the Federal Capital Territory Administration (FCTA) with operatives of security personnel have uncovered an illegal oil refining warehouse in Mabushi, opposite Mobile filling station on Ahmadu Bello way in Abuja.

 

The Director, Department of Development Control, FCTA, Mukhtar Galadima after the operation on Thursday, said the illegal refining site was discovered during the continuation of the city cleaning exercise.

 

According to him, about three to four plot of lands designated for commercial purposes have been converted to an area where oil and diesel are being adulterated and circulated to other parts of the city.

 

Galadima explained that the city sanitation task force will look into the provision of the law and make necessary recommendations to the FCT Administration for further actions on the plots used for the activity.

 

He said there was no arrest but the items used in carrying out the illegal refining have been impounded.

 

Galadima said, “During the continuation of our city sanitation exercise in Mabushi opposite Mobile filling station on Ahmadu way, we discovered an illegal refining site where oil and diesel are being adulterated, we have done the needful by moving the items to Nigerian Security and Civil Defence Corps.

 

“From what we have seen so far, about three or four pilot of lands designated for commercial purposes have been converted to unapproved activities, which we believe the owners are fully aware, there will be consequences.

 

“We are going to look at the provision of the law and make necessary recommendations to the FCT Administration”

 

He said the administration will continue to go tough on activities being carried out without government approval,  especially revocation of the titles.

 

Collaborating, Head, operations FCT Directorate of Road Traffic Service (DRTS), Deborah Osho said the city management team during the exercise also discovered that most of the areas in the Nation’s capital have been converted to illegal car mart and motor parks.

 

She disclosed that fifteen vehicles have so far been impounded since the operation commenced about two days.

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