With over 15 films (International and local) in her career, filmmaker Ololade Ebong continues to prove herself as one of contemporary cinema’s most empathetic and skilled chroniclers of Nigerian youth.
Ololade’s ability to write and direct such tender films has long been bolstered by her interest in casting them with fresh new talents, all the better to sell the veracity of her stories and introduce moviegoers to emerging actors worthy of big attention.
She is one of the filmmakers who aren’t just directing independent features, but are also acting, directing alongside major Nollywood franchises.
She continued to prove that immense talent is not bound by gender, race, or any other classification.
Ololade is an artist from Lagos/Oyo States and the MD/CEO of Speed Film Production, a production outfit that has produced some indigenous movies such Ife – Aimo, Ipin Mi (1 & 2), etc.
Interestingly, she has been observed to be shooting back to back in locations in Ogun and Oyo States. Currently, City people are informed that she is back in the studio to tidy up the production processes for Omo -odo, Slaves, and some television series.
Her hard work has endeared relevant entertainment organizations (internationally & locally) necessary industry recognitions such Cannes in France, WorldFest-Houston International Film Festival in Texas, Los Angeles Cinema Festival of Nollywood in California, African International Film Festival in Nigeria, California’s women’s Film Festival and the City People Awards in 2019 as well as 2021 for ‘Best New Producer of the year’.
Fitch Affirms Ecobank Nigeria’s Stable Outlook
Fitch Ratings has affirmed Ecobank Nigeria Limited’s (ENG) Long-Term Issuer Default Rating (IDR) at ‘B-‘ with a Stable Outlook. Fitch has simultaneously upgraded the bank’s National Short-Term Rating to ‘F2(nga)’ from ‘F3(nga)’. According to Fitch, the IDRs of Ecobank Nigeria are driven by its standalone creditworthiness, as expressed by its Viability Rating (VR) of ‘b-‘, stating that the bank has a moderate market shares of Nigeria’s banking-sector assets but its franchise benefits from being a subsidiary of Ecobank Transnational Incorporated, a large pan-African banking group with operations spanning 33 countries across sub-Saharan Africa (SSA).
The rating agency reported that Ecobank’s loans have declined in recent years, stressing that it does not see a high risk of the largest Stage 2 loans, which are concentrated within the oil and gas sector, of becoming impaired. It noted that its asset-quality assessment is positively influenced by a substantial amount of non-loan assets, largely comprising government securities and cash reserves at the Central Bank of Nigeria (CBN). Fitch expects profitability to improve moderately with receding asset-quality pressures and lower LICs.
Fitch observed that “ENG’s total capital adequacy ratio (CAR) of 19.6% at end the first quarter of 2021 maintains a comfortable buffer above the 10% regulatory requirement for a bank with a national licence and the bank’s tangible leverage ratio of 10.7% at the end of first quarter of 2021 which compares favourably with that of peers. Impaired loans net of specific loan loss allowances represented a significant 46% of Fitch Core Capital at end of first quarter of last year but risks to capital are mitigated by strong collateral coverage and recovery expectations of the two large upstream impaired loans.” “ENG’s low gross loans/customer deposits ratio of 67% at the end of 2021 largely reflects a small loan book. Large cash reserves at the CBN, net interbank placements and unpledged central-government securities represented 33% of total assets and 50% of customer deposits at end the first quarter of 2021 providing healthy liquidity coverage. Our funding and liquidity assessment also considers the benefits of ordinary liquidity support from ETI.” The report stated.
Fitch’s view of support for Ecobank Nigeria considered the high propensity of ETI to provide support, given the former’s importance to the parent’s pan-African strategy as its largest subsidiary and it is operating in sub–Saharan Africa’s largest economy. It also considers the material reputational damage to ETI that would accompany ENG’s default, the 100% ownership, a high degree of management and operational integration and a record of capital support.
Fidelity Bank Enriches Customers, Holds Second Draw of GAIM 5 Promo
Leading African financial institution, Fidelity Bank PLC, has announced the second set of millionaires in its Get Alert in Millions Season 5 promo (GAIM 5) which held recently in Victoria Island, Lagos.
The event was witnessed by representatives of regulatory organisations which include: Ms Oyinkan Kusamotu, Senior Legal Officer, Lagos State Lotteries & Gaming Authority; Mr Tanko Mohammed, Head, Monitoring & Enforcement, Lagos State Lotteries and Gaming Authority; Mrs Susie Onwuka, Head, Lagos Office, Federal Competition & Consumer Protection Commission (FCCPC) and Ms Chioma Amanoh, Lagos Office, National Lottery Regulatory Commission (NLRC).
Since the commencement of the fifth season of the promo in November 2021, the bank has enriched over 460 customers with various cash prizes. So far, 10 lucky customers have been rewarded with a million naira each. This month, Fidelity Bank has continued its tradition of rewarding loyal customers which has seen Ajoma Rachel, Stanley Sunday, Musbahu Kabiru, Usman Abdulkadir, John Uchechukwu, Oluwatayo Oladipupo, Esther Eloho, Sophia Sefera, Amarachi Sarah Anyacho, and Obi Chinelo emerge as the next set of millionaires in the promo.
Commenting on the event, Dr. Ken Okpara, Executive Director overseeing the Bank’s Lagos and Southwest Directorate, stated that, “As a bank that places our customers at the centre of everything we do, we are always looking for opportunities to help our customers grow. Two months ago, we kicked off the GAIM 5 promo to reward our customers and demonstrate our commitment to improving their lives and wellbeing. Today, we are excited at how happy we have made some of our most loyal customers. We remain committed to providing rewarding experiences and best-in-class services for our clients.”
Also speaking at the event, the Divisional Head, Product Development, Osita Ede stated that: We have earmarked the sum of N125million for total cash rewards this season which we would be giving out in weekly, monthly and grand draws till the campaign ends in July 2022. We encourage our customers to save up to increase their chance of winning and those yet to open an account to do so today. At the end of the campaign season, we want to celebrate customers who make savings second nature.
Fidelity Bank is a full-fledged commercial bank operating in Nigeria, with about 6million customers who are serviced across its 250 business offices and digital banking channels. The bank is known for exceptional customer service and digital innovation.
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