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Thursday,
November 29, 2018 06.01AM / By FBN
First Bank
of Nigeria Limited has attributed its success story to innovations and
reinvention of products and services aimed at satisfying customers’ needs and
aspirations. Dr. Adesola Adeduntan, the Bank’s Managing Director,
stated this on the sidelines of the second anniversary of FirstGem, a
female focused product in Lagos.
“At
FirstBank, our purpose is to put our customers and stakeholders at the heart of
our business. For over 124 years of our existence, we have focused on providing
excellent financial services to meet the needs of our esteemed customers. We
continue to improve on our products and also create new ones that suit their
specific financial needs. The reason why we have been successful is our
ability to invent and reinvent ourselves. You can only be successful like that
when you put your customer at the centerpiece of all your actions. That is the
secret of our success. “In designing our FirstGem product, we are very clear on
the space we want to occupy,” he said.
Adeduntan
further said that FirstGem had been designed on the path of what was discovered
two, three years ago to fill the gap in ensuring women achieve active
participation in economic development. He noted that FirstGem is not just a
product but a complete lifestyle support designed solely for women.
Also
speaking, Dr. Doyin Salami, Lagos Business School, urged investors in
the Nigerian stock market not to panic about the forthcoming elections,
assuring them the market would rebound after the general elections. Salami said
that Nigerians should stop dwelling on uncertainties surrounding 2019 elections,
noting that election would come and go. Speaking on the topic “New
frontiers for businesses in 2019”: Salami said that Nigerians
should tap into sectors with huge activities instead of dwelling solely on the
2019 elections.
“Election
is coming and it comes with uncertainties, there are over a 150 million
Nigerians and I’m sure that their lives will continue after the election. “I’m
optimistic of where we are, election will come and go and we hope we don’t
fight aftermath of the election. Whoever wins will manage the economy,”
Salami said.
He further
opined that the stock market which had gone down presently by about 15 percent
would rebound after the elections. Salami added that Treasury Bills would offer
higher returns next year, noting that people with risk averse could invest in
it. Salami said that Nigerians should look inwards and tap into opportunities
provided by the fast moving sectors with huge activities. According to him, the
sectors are agriculture, manufacturing, telecommunications and ICT, healthcare
and oil and gas.
Salami
said that experience and knowledge would help entrepreneurs to identity new
frontiers for business in 2019.He noted that many businesses collapsed because
of lack of understanding and wrong pricing.
Also
speaking at the event, Ms Arunma Oteh, World Bank Vice President
and Treasurer, identified Nigeria’s greatest challenge as extreme poverty,
inequality, climate change, anti globalisation and high population,
among others. Oteh said that Nigeria would not achieve sustainable growth
without tackling these challenges with strong sense of urgency. She said that
one way to tackle these problems was to broaden economic participation by
closing the gender gap.
Oteh said
that globally, countries were losing $160 trillion in wealth because of
differences in lifetime earnings between women and men.She said that “this
amounts to an average of $23,620 for each person in the 141 countries studied
by the World Bank Group”. Oteh noted that women were important for economic
development and were the economic power house for society today. (NAN)
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