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FIRSTBANK secures $150 million Afreximbank Pandemic Trade Impact Mitigation Facility (PATIMFA) to support businesses in Nigeria

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African Export-Import Bank (Afreximbank) has announced the disbursement of a US$150 million finance facility to First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider. The funding was provided under Afreximbank’s Pandemic Trade Impact Mitigation Facility (PATIMFA).

Afreximbank’s US$150 million financial support will be accessible to FirstBank customers that are involved in the manufacturing and importation of products and equipment required to combat the COVID-19 pandemic, as well as initiatives to rehabilitate hospitals and strengthen diagnostic and testing capacity. The loan will also be used for the financing of trade debt payments falling due to avert payment defaults in trade debt obligations. In addition, proceeds of the facility will help beneficiary businesses manage the impacts of the Ukraine crisis.

Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, commented: “This new disbursement under PATIMFA is a further proof of the relevance of the programme in helping African economies to recover from the crisis-induced by the COVID-19 pandemic. Since April 2020, when PATIMFA was launched, we are more than proud to have disbursed more than US$7 billion to help Afreximbank member countries manage the adverse impact of the financial, economic and health shocks caused by the COVID-19 pandemic. Through First Bank, one of our trade finance intermediaries, this $150 million facility will help build the resilience of many businesses to the adverse impacts of the pandemic, while helping them overcome the consequences of the current Ukraine crisis.”

Also expressing his delight in the partnership, Dr. Adesola Adeduntan, FirstBank’s CEO, said: “We commend Afreximbank for this impactful financial response. It will immensely contribute to empowering many businesses adversely impacted by the economic shocks caused by Covid-19. The selection of FirstBank as a partner in this initiative is a testament to their confidence in our capacity and proven track record over the years. 

As a Bank that has been woven into the fabric of our society for over 128 years, we remain committed to the success of businesses in our host communities and ensuring they are given the needed boost to sustain their operations and further drive economic growth in the nation.”, he concluded.

Health & Wellness

Polaris Bank clinches healthcare excellence award

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Polaris Bank, Nigeria’s leading retail Bank, has been recognized as the “Outstanding Healthcare Financial Institution of the Year” by the Nigeria Healthcare Excellence Awards (NHEA). The award presentation, which took place in the Bank’s head office in Lagos on Tuesday was presented in recognition of the Bank’s contribution to the healthcare sector as part of the high points of the 8th Annual Nigeria Healthcare Excellence Awards (NHEA) which was held over the weekend in Lagos.

The Chairman of the Advisory Board of NHEA, Dr. Anthony Omolola, who presented the award canvassed for support; both in terms of funding and the establishment of a system of empowering healthcare providers with trainings on the business of managing healthcare where doctors can be taken through modules on finance, credit balance, operations and reconciliation that will assist them run their medical facilities profitably.

Omolola noted that the Polaris Bank’s intervention in Nigeria’s healthcare system is urgently needed, adding that, “A huge number of almost 70% of Nigeria’s population access the primary health centers where their health cases get sorted at that level.”

Reacting to the award presentation, Polaris Bank Managing Director/CEO, Innocent C. Ike, stated that, “As a Bank, we stand for excellence, and in any sphere of life or part of the economy where you see our involvement or presence, it is driven by the fact that we see an opportunity to add value and support the growth of that sector. We are primarily motivated by the impact of our work not awards, but we deeply appreciate recognitions such as the one from NHEA. Indeed, we cherish it and are motivated to do more.”

According to Mr. Ike, “In the first two to three years as a company and brand, especially at the period Covid-19 broke out, we saw the pandemic as an existential threat that made us extend support to Nigeria’s healthcare sector with other like-minded organisations, while commending medical practitioners whom we could say were literally taking the bullets for us.”

The CEO used the opportunity to pledge that Polaris Bank will work with NHEA to understand the needs of players in the primary and secondary healthcare segments to see what we can do together.

On his part, Dr. Olaokun Soyinka, a former Health Commissioner in Ogun State and a member, NHEA Advisory Board however noted that, “Any of us who have accessed healthcare of late and look at what has been expended would understand that it is difficult for average Nigerians to access healthcare with what they earn. So please put good money behind the growth of the sector following the huge gap noticed in healthcare delivery by the outbreak of Covid-19.

On how the award recipients emerged, the Director of Marketing, Communication and Strategy, NHEA, Mr. Moses Braimah, said, “The awardees emerged through a rigorous process involving essentially nomination and voting. The exercise is then subjected to a verification team that carries out independent research and intelligence gathering over an organisation’s history of contribution to the health sector.”

NHEA is an initiative of Global Health Projects and Resources in collaboration with Anadach Group of the United States of America. It is an annual event where individuals and organisations are recognized and celebrated for their exceptional contributions to the healthcare sector.

Polaris Bank has committed billions of naira to Nigeria’s healthcare sector; providing access to finance, capacity building and technology platforms to assist build a robust ecosystem. A good example is being a funding partner of the major equipment for the establishment of Marcelle Ruth Cancer Center.

Polaris Bank, adjudged the Digital Bank of the Year, is a future-determining and digitally-driven Bank committed to delivering industry-defining products to individuals and businesses.

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Entertainment

Sesan Adeniji Stars In “Journey Of The Beats” On Showmax

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Journey Of The Beats – a once-in-a-lifetime story that explores the origin and evolution of Afrobeats and black music that debuts exclusively on Showmax on 23 June 2022, is a must-see. The 10-part documentary series produced by Obi Asika digs into the stories that drove the movement. Episode 1, hosted by music historian ED Keazor and Kunle Tejuosho, is a testament to that.

Episode 2, which premiered on 30 June 2022, zeroes in on the hardship of the early 1990s, political disruption and the exit of international record companies in Nigeria, and how the deregulation in the broadcast media helped open the space for the growth of Afrobeats. But, the rise of the independent superstars was held back by piracy and greed. From the streets in Abeokuta, Ajegunle, and Onitsha to Idumota and Alaba, it revealed the struggle, pain, and joy.

This captivating story in episode 2 hosted by Sesan Adeniji (an entertainment journalist with over two decades of experience in the Nigerian music industry, an Associate Producer, Researcher, and co-director on the #JOTB documentary) also has a curated JOTB EPISODE 2 companion playlist on Spotify. According to Showmax Head of Content, Candice Fangueiro, “The growth of Afrobeats cannot be overstated, and we feel privileged as a platform to showcase and tell the story behind its evolution.”

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Entertainment

Digital Marketer, Tosin Ajibade Hosts 2022 New Media Conference School Debate

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Media practitioner and author, Tosin Ajibade-Oladeinde on Friday, June 24, 2022 successfully hosted the New Media Conference School Debate at Chalcedony School, Abijo G.R.A, Ibeju-Lekki. This year’s edition is themed ‘Does Social Media Enrich Education or take away from Education?’

 

The event featured award-winning Nigerian dancer and choreographer Kaffy Shafau, award-winning Tiktoker Rodney Umeh, and Communications Manager for Anglophone West Africa at Meta, Sola Obagbemi.

 

The students between year nine and eleven in their arguments emphasized on the importance of social media and how the excessive use of it can be curbed. Some of the points argued during the debate include; cyber bullying, adult content, fake news dissemination, plagiarism, social media control mechanism among others.

 

Speaking at the event, Kaffy advised the students to always make sure they take advantage of the social media platforms in a positive way. She added that “social media is a tool and you’re the driver, adding that the good the bad will always exist but who is behind the keyboard is what matters.”

 

Sola Obagbemi admonished the children to be good ambassadors irrespective of the social media they use. She said children should learn to make use of social to benefit them in the area education, and self improvement.

 

The organizer of the event, Oluwatosin Ajibade-Oladeinde in her remarks thanked the host school, the panelists and the students for making it a success. She further assures that she would continue to do her best to sensitize and educate children about the use of new media.

 

Prizes were awarded to groups of  student who came first and second while each student at the venue got a copy of the book ‘Olori Supergal from Social Misfit to Social Media Hero’ written by Tosin Ajibade and Alajota by Kafayat ‘Kaffy’Shafau.

 

NMC is an annual networking event that focuses on digital marketers, vloggers, podcasters, influencers, content creators, bloggers, tech enthusiasts, and more in the field of media and communications.

 

The school debate was powered by OSG MEDIA.

 

Follow us on social media for more information:

 

Facebook – New Media Conference

Tiktok – @newmediaconference

Twitter – @nmcafrica

Instagram – @newmediaconference

Youtube – New Media Conference

Website – www.newmediaconference.ng

 

 

 

 

 

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