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Women Network Group, ANWBN Commends Unity Bank’s Support As 5,000 Members Benefit From Yanga Product (PHOTOS)

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As part of activities to mark the 2024 International Women’s Day, Unity Bank Plc and the Association of Nigerian Women Business Network, ANWBN, have partnered to reach out to over 90 women groups across Nigeria through the Yanga Account.

At a forum held in Abuja, Unity Bank unveiled the Yanga account to the women’s group, providing opportunities for the members to benefit from the enhanced product packages targeted at women entrepreneurs with capacity building, MSME financing schemes, affordable health insurance and cash management.

Speaking at the event themed: “Building Sustainable Entrepreneurial and Financial Skills for Women in Challenging Times,” the Divisional Head of Retail & SME Banking at Unity Bank Plc, Mrs. Adenike Abimbola said no fewer than 5,000 women have benefited from the Bank’s partnership with the association through the Yanga savings account offering.

Launched in 2021, the Yanga Savings Account is targeted to boost Nigerian women entrepreneurs, promote their businesses, and improve their skill set, while providing them with access to micro-loans and health insurance.

“The partnership with ANWBN has successfully led to the empowerment of Nigerian women with skills and credit facility with a single digit interest-free loan, which has so far expanded the MSME circle in Nigeria,” Adenike said.

Also speaking, the National Coordinator, ANWBN, Angela Ajala said the association comprises over 90 women business groups with over 5 million members. She commended Unity Bank for its support and noted that Yanga’s offering resonates with the need “to equip women with the tools, resources, and knowledge needed to thrive as entrepreneurs and financial leaders”.

Recall that Unity Bank recently partnered with SkillPaddy to empower no fewer than 1,000 female beneficiaries in Software Engineering Training, also as part of initiatives to mark International Women’s Day 2024.

See Photo highlights from the event below:

 

Members of the ANWBN during the IWD event held in Abuja recently

 

– From Left: Divisional Head, Retail & SME Banking, Unity Bank Plc, Mrs. Adenike Abimbola; National Co-Ordinator, ANBWN, Angela Ajala; and Head, Retail & SME Banking, Dr. Opeyemi Ojesina at the IWD event held recently in Abuja.

 

Some members of the Unity Bank Plc during the event.

 

From Left: Retail & SME Banking, Dr. Opeyemi Ojesina; Divisional Head, Retail & SME Banking, Unity Bank Plc, Mrs. Adenike Abimbola; and National Co-Ordinator, ANBWN, Angela Ajala, at the IWD event held recently in Abuja.

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Black Market Dollar (USD) To Naira (NGN) Exchange Rate Today 23rd July 2024

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Black market dollar to naira exchange rate on Tuesday 23rd July 2024 can be accessed below.

JomogNews Nigeria has obtained the official naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates.

Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.

As of now, you can purchase 1 dollar at a certain rate now, however, it’s important to keep in mind that the rate can shift (either upwards or downwards) within hours.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1560 and sell at N1580 on Tuesday 23rd July 2024, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Dollar to Naira (USD to NGN)    Black Market Exchange Rate Today
Buying Rate                                     N1560
Selling Rate                                      N1580

Dollar to Naira CBN Rate Today

Dollar to Naira (USD to NGN)     CBN Rate Today
Buying Rate                                      N1584
Selling Rate                                       N1585

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

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UN, Columbia University, New York To Headline ASIS 2024

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The Africa Social Impact Summit (ASIS) 2024 is set to be an extraordinary gathering of influential leaders, Amina Mohammed, Deputy Secretary General of the United Nations, and Jeffrey Sachs, of the world-acclaimed Columbia University, New York, are set to headline the event. 

The summit, co-convened by the Sterling One Foundation and the United Nations, is scheduled for July 25th and 26th at the Eko Convention Centre, Lagos. It promises to be a pivotal platform for addressing Africa’s critical social and economic challenges under the theme “Reimagining Progress: A New Blueprint for Sustainable Growth in Africa.”

Jeffrey Sachs, renowned economist and director of the Center for Sustainable Development at Columbia University, is known for his extensive work in global economic development and poverty alleviation. His expertise in sustainable development will provide a vital framework for the summit’s discussions on creating economic opportunities and reducing inequalities.

Amina Mohammed, Deputy Secretary-General of the United Nations, has a rich history of leadership in international development and environmental sustainability. Her participation is expected to drive crucial conversations on achieving the Sustainable Development Goals (SDGs) across Africa, focusing on inclusive growth and environmental stewardship.

Abubakar Suleiman, CEO of Sterling Bank, is celebrated for his innovative approaches to banking and his strong commitment to corporate social responsibility. His insights into sustainable business practices and economic development will be instrumental in shaping the summit’s agenda.

Olapeju Ibekwe, CEO of the Sterling One Foundation, expressed her excitement for the event: “ASIS 2024 represents a unique opportunity for global leaders and innovators to converge and create sustainable solutions for Africa’s most pressing challenges. We are honored to have such distinguished speakers and partners joining us in this transformative journey.”

ASIS 2024 will bring together leaders from the private sector, public sector, tech ecosystem, non-profit organizations, and government to collaborate on initiatives that drive social impact. The summit will focus on key areas such as universal health access, education, equality, food security, and climate action.

Interested participants can register for the summit at  www.theimpactsummit.org.

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ZENITH BANK RETAINS TOP SPOT AS NIGERIA’S NUMBER ONE BANK BY TIER-1 CAPITAL FOR FIFTEEN YEARS IN THE 2024 TOP 1000 WORLD BANKS’ RANKING

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For the fifteenth consecutive year, Zenith Bank Plc has retained its position as the Number One Bank in Nigeria by Tier-1 Capital in the 2024 Top 1000 World Banks’ Rankings, published by The Banker Magazine.

This ranking places Zenith Bank Plc as the 565th Bank globally with a Tier-1 Capital of $2.01 billion. The rankings, published in the July 2024 edition of The Banker Magazine of the Financial Times Group, United Kingdom, recognise Zenith Bank’s continued financial strength and stability.

They are based on the 2023 year-end Tier-1 capital of banks globally and remain the primary source for global bank financials used by most international organisations in their assessments of banks.

Tier-1 Capital describes capital adequacy, the core measure of a bank’s financial strength from a regulator’s perspective.

According to the ranking, Tier-1 Capital, as defined by the latest Bank for International Settlements (BIS) guidelines, includes loss-absorbing capital, i.e., common stock, disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are less than wholly owned.

A strong Tier-1 capital ratio boosts investor and depositor confidence, indicating the Bank is well-capitalised and financially stable.

Commenting on this achievement, the Group Managing Director/CEO of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, said, “We are deeply honoured to be recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year”.

This recognition is a testament to our strategic focus on sustainable growth, innovation, and customer satisfaction.

It also emphasises our resilience and strength in navigating the ever-evolving financial landscape. Our dedicated team of professionals has remained steadfast in ensuring that we maintain our position at the forefront of the banking industry.”

She extended her profound and sincere appreciation to the Founder and Chairman, Dr. Jim Ovia, CFR, whose visionary and transformative leadership has played a pivotal role in cultivating a resilient and thriving establishment.

She also expressed her deep appreciation for the board’s insightful governance, the staff’s relentless dedication, and the unwavering loyalty of the bank’s esteemed customers to the Zenith brand.

Zenith Bank’s financial performance for the year was driven by a remarkable triple-digit growth of 125% in gross earnings, from N945.6 billion reported in 2022 to N2.132 trillion in 2023.

This growth led to an improved market share in both the retail and corporate segments despite a persistently challenging macroeconomic environment.

The increase in gross earnings was primarily due to growth in interest and non-interest income. Interest income growth was attributed to the increase in the size of risk assets and their effective repricing, while non-interest income was driven by significant trading gains and gains from the revaluation of foreign currencies.

Zenith Bank recently commenced recapitalisation efforts with the conclusion of its Capital Markets Day held on 11th July 2024.

It aims to raise the least amount of capital amongst its peers at N230 billion, considering it already maintains a robust capital base of N270.7 billion.

The Bank remains dedicated to supporting the growth of the Nigerian economy and providing its numerous customers with innovative and efficient banking solutions.

Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards, with these latest accolades coming on the heels of several recognitions.

These include being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fourteenth consecutive year in the 2023 Top 1000 World Banks Ranking, published by The Banker Magazine.

The Bank was also awarded the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020 and 2022; and Most Sustainable Bank, Nigeria in the International Banker 2024 Banking Awards.

Further recognitions include Best Bank in Nigeria for three consecutive years from 2020 to 2022 in the Global Finance World’s Best Banks Awards and Best Commercial Bank, Nigeria for three consecutive years from 2021 to 2023 in the World Finance Banking Awards.

Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for 2022 and 2023, and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, and Retail Bank of the Year for three consecutive years from 2020 to 2022 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

The Bank also received the accolades of Most Sustainable Bank, Nigeria, in the International Banker 2023 Banking Awards, Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.

Zenith Bank was named Bank of the Decade (People’s Choice) at the ThisDay Awards 2020, Bank of the Year 2021 by Champion Newspaper, Bank of the Year 2022 by New Telegraph Newspaper, and Most Responsible Organisation in Africa 2021 by SERAS Awards.

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