Saturday, December 9, 2023
  • Home
  • Connecting with Vanessa
  • Entertainment
  • Fashion & Beauty
    • Celebrity Style Crush
  • Lifestyle
  • News & Politics
    • International News
  • Relationship Beliefs
    • Connecting with Vanessa
    • Heartthrob
  • Religious Beliefs
  • HOME
  • NEWS
    • News
    • crime
    • Education
    • Health
    • International News
    • Naija News
    • Odd News
    • Politics
    • Sports
  • FASHION
    • Accessories
    • Beauty
    • Celebrity Style Crush
    • Foreign fashion
  • RELATIONSHIPS
    • Connecting with Vanessa
    • Hookups
    • Love & Marriage Tips
  • LIFESTYLE
    • Career Talks
    • Fitness
    • Food & Wine
    • Tourism
    • Weddings
  • RELIGIOUS BELIEFS
  • BUSINESS
  • EVENTS
No Result
View All Result
VON DIGEST
  • HOME
  • NEWS
    • News
    • crime
    • Education
    • Health
    • International News
    • Naija News
    • Odd News
    • Politics
    • Sports
  • FASHION
    • Accessories
    • Beauty
    • Celebrity Style Crush
    • Foreign fashion
  • RELATIONSHIPS
    • Connecting with Vanessa
    • Hookups
    • Love & Marriage Tips
  • LIFESTYLE
    • Career Talks
    • Fitness
    • Food & Wine
    • Tourism
    • Weddings
  • RELIGIOUS BELIEFS
  • BUSINESS
  • EVENTS
No Result
View All Result
VON DIGEST
No Result
View All Result
Home Business

FIRSTBANK HIGHLIGHTS ROLES OF SMES TO ECONOMY AT EHINGBETI LAGOS SUMMIT

Bolaji Israel by Bolaji Israel
February 22, 2021
in Business
0
 International Literacy Day 2020: First Bank Set The Pace With Innovative e-learning Solutions
20
SHARES
112
VIEWS
FacebookSTwitterLinkedinWhatsAppTelegram

FIRSTBANK HIGHLIGHTS ROLES OF SMES TO ECONOMY AT EHINGBETI LAGOS SUMMIT

 

You might also like

Polaris Bank pledges support for infrastructure development, housing, education, healthcare, agriculture in Ogun State

Adron Homes Shines At This Years 10th TM News summit And Awards 2023

The Alternative Bank Delights Customers with Exclusive Seasonal Product

By Bolaji Israel

 

The Chief Executive Officer of First Bank of Nigeria Limited, Dr. Adesola Adeduntan, has restated the strategic importance of small and medium enterprises SMEs to the growth and development of the national economy.

 

Adeduntan said the path to the growth of Nigerian economy lies in growing the SME sector, and that informed why First Bank has deliberately provided robust support platforms for the critical SME sector.

 

Speaking during the plenary session at the 8th Ehingbeti/Lagos Economic Summit on Tuesday, 16 February 2021, the First Bank CEO said, “The path to the growth of Nigerian economy is by growing the SME sector.

 

SME is a very important aspect of what we do at FBN because of its importance to the overall growth and development of the economy.”

 

Adeduntan disclosed that”By March 2021 First Bank will be 127 years old, and is by far the oldest and largest bank in Nigeria.

 

The reason we continue to thrive and endure as an institution is our support for businesses that are relevant to the overall growth and development of the economy and the SMEs is a practical example. Our portfolio of SME is quite sizeable, giving the history of the FirstBank and Nigeria.”

 

Enumerating the bank’s support for the sector, he explained: “At FirstBank, we have a dedicated portal called SME Connect running for about 6 or 7 years through which we provide support for SMEs.

 

We offer advisory services to ensure we up their skills and capabilities in either preparing basic accounts statements, choice of technology, and supporting them to work through the system.

 

We have continuously refined the SME Connect platform to conform with latest standards. For example, we updated it with relevant adjustments to the new Company and Allied Matters Act CAMA Law.

 

In some practical terms, we provide term loans, overdraft and all types of structured debt instrument to our SME Customers.

 

Dr Adeduntan further added that, “Very importantly, the Central Bank of Nigeria (CBN) as part of its economic stimulant plan provides more liquidity for banks to enable them lend more to SMEs. FirstBank is active in that space, and so are other banks too.

 

“The Bankers Committee which consists of CBN Governors and CEOs of Banks also collectively decided and intervened on SME. We set up a fund with 5% of Profit After Tax to create a pool of fund which is available for funding SMEs.

 

We understand their importance in keeping the economy growing to ensure we have a positive economy.”

 

“I am always inspired when I meet businesses that are now relatively big or sizeable telling me how 20, 30, 40 years ago FBN helped in supporting them to pick up from the ground” he concluded enthusiastically.

 

The three-day summit held virtually from February 16-18 themed “For a Greater Lagos: Setting the Tone for the Next Decade”, with about 150 speakers, drawn from across the world speaking on various issues, including Dr. Ngozi Okonjo Iweala, the newly appointed Director General of the World Trade Organization, President Mohammad Buhari and Dr. Akinwunmi Adesina, president, African Development Bank (ADB).

 

The Ehingbeti Summit is a great recent tradition in Lagos State which has served as the bedrock for developmental discourse, a platform for engaging a wide range of stakeholders in the Lagos success story and an invaluable tool for molding our growth over the past 20 years.

 

Jointly created by the private and public sector of Lagos State, Ehingbeti is not merely a platform for discussions but also a veritable tool for driving socio-economic and infrastructure development in the State.

 

The Summit aims to generate and implement tangible ideas and innovations, many of which have been successfully executed by Lagos State to the benefit of all.

 

Did you know you can open a FirstBank account with zero Naira? ​

​Open one today by dialing *894#, visiting a FirstBank ATM or

a Firstmonie agent location near you.

​#EnablingYou

​

Related

Tags: #firstBank
Bolaji Israel

Bolaji Israel

Related Posts

Polaris Bank pledges support for infrastructure development, housing, education, healthcare, agriculture in Ogun State
Business

Polaris Bank pledges support for infrastructure development, housing, education, healthcare, agriculture in Ogun State

by Bolaji Israel
December 9, 2023
Adron Homes Shines At This Years 10th TM News summit And Awards 2023
Business

Adron Homes Shines At This Years 10th TM News summit And Awards 2023

by Bolaji Israel
December 9, 2023
The Alternative Bank Welcomes Gambian Delegation
Business

The Alternative Bank Delights Customers with Exclusive Seasonal Product

by Bolaji Israel
December 7, 2023
Unity Bank Md Advocates Policy Actions To Stem Gender-Based Violence In Nigeria
Business

Unity Bank Md Advocates Policy Actions To Stem Gender-Based Violence In Nigeria

by Bolaji Israel
December 7, 2023
More Winners to emerge in the Ongoing Polaris Save & Win Promo
Business

Polaris Bank Signs up to PAPPS to ease customers Cross Border Payment 

by Bolaji Israel
December 4, 2023
Next Post
Nollywood Power Couple, Banky W And Adesua Wellington Welcome Baby Boy

Nollywood Power Couple, Banky W And Adesua Wellington Welcome Baby Boy

Sponsored

Get Started

Read News in:

  • Beauty
  • Business
  • Career Talks
  • Celebrity Style Crush
  • crime
  • Education
  • Entertainment
  • Events
  • Fashion
  • Fitness
  • Food & Wine
  • Foreign fashion
  • Health
  • International News
  • Lifestyle
  • Love & Marriage Tips
  • Naija News
  • News
  • Odd News
  • Politics
  • Relationship Beliefs
  • Religious Beliefs
  • Sports
  • Tourism
  • Uncategorized
  • Weddings

Follow Us

Tweets by vondigest
Von Digest

VON Digest is a cross border news and magazine website for trending news, beauty and fashion, lifestyle and relationships talks..

Learn more

Categories

  • Beauty
  • Business
  • Career Talks
  • Celebrity Style Crush
  • crime
  • Education
  • Entertainment
  • Events
  • Fashion
  • Fitness
  • Food & Wine
  • Foreign fashion
  • Health
  • International News
  • Lifestyle
  • Love & Marriage Tips
  • Naija News
  • News
  • Odd News
  • Politics
  • Relationship Beliefs
  • Religious Beliefs
  • Sports
  • Tourism
  • Uncategorized
  • Weddings

About This Site

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Use

Recommended

Polaris Bank pledges support for infrastructure development, housing, education, healthcare, agriculture in Ogun State
Business

Polaris Bank pledges support for infrastructure development, housing, education, healthcare, agriculture in Ogun State

December 9, 2023
Adron Homes Shines At This Years 10th TM News summit And Awards 2023
Business

Adron Homes Shines At This Years 10th TM News summit And Awards 2023

December 9, 2023
PHOTOS: A glittering affair: About Otunba Olufemi Davies’ grand wedding in Lagos
Entertainment

PHOTOS: A glittering affair: About Otunba Olufemi Davies’ grand wedding in Lagos

December 7, 2023
Yoruba Movie Gist Awards To Hold At RM Place Magodo Lagos
News

Yoruba Movie Gist Awards To Hold At RM Place Magodo Lagos

December 7, 2023

© 2020 VON Digest - All Rights Reserved

No Result
View All Result
  • Home
  • Connecting with Vanessa
  • Entertainment
  • Fashion & Beauty
    • Celebrity Style Crush
  • Lifestyle
  • News & Politics
    • International News
  • Relationship Beliefs
    • Connecting with Vanessa
    • Heartthrob
  • Religious Beliefs

© 2020 VON Digest - All Rights Reserved