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The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has joined the Managing Director of Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe and a host of dignitaries including two state governors to commission a 400 metric tons per day mega rice mill in Kano state constructed by Gerawa Group of Companies.

 

Speaking at the commissioning of the mill and the foundation laying of additional 560 metric tons rice mill, the CBN Governor stated that before 2015 Nigeria had less than 10 functional integrated rice mills with a combined capacity less than 350,000 metric tons, but with the coming of President Muhammadu Buhari-led administration, the statistic has grown to over 60 integrated mills with a combined capacity of over 3 million metric tons.

 

The CBN governor added that there are about 10 new integrated mills scheduled to be commissioned this year emphasising that the growing number of integrated mills have been complemented by hundreds of small-scale mills located across the states of the federation in an effort towards boosting the nation’s food security.

 

He explained that the private sector investment that has been unlocked in the establishment of these rice mills are testimony of the conducive environment created in the rice value chain through the CBN-led initiatives and stakeholders’ cooperation.

 

Commenting on Fidelity Bank’s support for the project, its Managing Director/CEO, Mrs. Nneka Onyeali-Ikpe, who was represented at the event by the Bank’s Executive Director, Northern Businesses, Hassan Imam, said, “At Fidelity Bank, we are known for facilitating transactions such as this where the impact is phenomenal and often on a national scale. We are pleased to be associated with this project because of its potential to not only improve the lives of many small-holder farmers in Jigawa, Kano and environs but to also develop the country’s rice value chain and ensure food security.”

 

The chief host at the well-attended event and Chairman, Gerawa Group of Companies, Alhaji Isa Muhammed Gerawa stated that the establishment of the rice mill was a testimony of the efficacy of the federal government’s agricultural development policies in encouraging farming and other related activities with support from the CBN. He added that the intended 560 metric tons capacity rice mill will be completed in November 2022.

 

The occasion was graced by the Executive Governors of Jigawa State, Mohammed Badaru Abubakar and of Kebbi State, Abubakar Atiku Bagudu; captains of industries and heads of corporate organizations.

 

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Business

Fidelity Bank Wins Best SME Bank Nigeria at Global Banking & Finance Awards 2022

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Fidelity Bank Plc, has been announced as the 2022 Best SME Bank in Nigeria by the Global Banking & Finance Review at its Annual Global Banking & Finance Awards which held in London, UK recently.

 

Global Banking & Finance Review is the leading online, digital, and print magazine for the banking and financial sector. The website receives over 7 million page views each year thanks to its balanced views and informative, independent news centered on the financial sector. The Global Banking & Finance Awards was created to recognize companies of all sizes that are prominent areas of expertise and excellence within the global financial community.

 

“Global Banking and Finance Review is privileged to honor those financial institutions that have achieved outstanding results and who stand out in their particular area of expertise in the banking and finance industry. Global Banking & Finance Review would like to congratulate the award winners and look forward to their continued success.

 

“The awards were created to recognize companies of all sizes that are prominent in particular areas of expertise and excellence within the financial community. They reflect the involvement of leading financial organizations and recognize the accomplishment, achievement, innovation, strategy, and progressive and motivating changes taking place within the financial sector”, reads a statement on the Global Banking and Finance Awards website.

 

Commenting on the award, MD/CEO Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe said, “We are grateful for this recognition and dedicate the award to our customers who rely on us to provide the right support for scaling their business. Receiving this award at the beginning of the year, provides us with increased motivation to do more in helping our clients achieve their strategic business goals.”

 

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 7.2 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best Private Bank in Nigeria and Best Private Bank Digital Solutions for Clients in Africa in the Global Finance’s World’s Best Private Banks 2023 Awards; as well as the Best Commercial Banking Brand in Nigeria by the Global Brands Magazine Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

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Business

Buhari Will Commission Dangote Refinery Before May 29 -Dangote Group

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The attention of Dangote group has been drawn to some misleading reports regarding the commissioning of its Dangote Refinery during the present working visit of President Muhammadu Buhari GCFR to Lagos State.

 

In a terse statement signed by the Group Chief, Branding & Communications Officer, Dangote Industries Limited, Mr Anthony Chiejina, the Group averred that “We want to state categorically that our 650,000 barrels per day (bpd) Refinery project was never part of the President’s programme on projects to be commissioned.

 

“For the record, the projects slated for commissioning in Lagos State by President Muhammadu Buhari GCFR include: Lekki Deep Sea Port; 32-Metric Tonnes Lagos Rice Mill, Imota; 18.75km Eleko to Epe T Junction Express road; John Randle Centre for Yoruba Culture and History, Onikan, Blue Line Rail (Phase 1) commissioning (Marina to Mile 2); Groundbreaking for the Blue Line Rail Phase 2 (Mile 2 to Okokomaiko), and MRS Lubricant, a private project in Apapa.

 

However, our Refinery will be commissioned before President Muhammadu Buhari GCFR formally leaves office in May, 2023, and the public will be duly informed and invited to the epic event.”

Before this statement today, Business Hilights recalls that there had been a fake news in an unverified twitter handle saying President Buhari will among other things commission the refinery which the company debunked and described as fake.

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