Business and Economy
FSDH Merchant Bank to work with Lagos State on revenue collection — Marie-Omogbai
FSDH Merchant Bank says it has been enlisted into the Lagos State Electronic Banking System of Revenue Collection and Monitoring (EBS-RCM).
Ms Stella Marie-Omogbai, FSDH Divisional Head, Corporate Banking and the Branches, disclosed this in a statement in Lagos on Sunday. adsbygoogle || []).push({}); googlesyndication.com/pagead/js/adsbygoogle.js">
Marie-Omogbai said the Lagos State Government approved the bank’s application to be included in the State’s EBS-RCM in March.
“On March 30, 2020, the Lagos State Government approved the Merchant Bank’s application to be included in Lagos State’s Electronic Banking System of Revenue Collection and Monitoring (EBS-RCM).
“This feat is yet another first for FSDH Merchant Bank, as it is now the first Merchant Bank to be granted this application in Nigeria,” Marie-Omogbai stated.
According to her, with this enlistment, the bank will be able to process the following taxes: Land Use Charge bills (LUC) and Lagos Water Corporation bills (LWC).
She said that with the approval, the bank would process Central Billing System such as LASTMA bills, VIO bills and Education Board bills, among others.
Marie-Omogbai said that the enlistment would enable the bank to process WebGUID (these are non-billed payments where the customer or the teller generates the payment code e.g. PAYE, Direct Assessment, Dev. Levy, etc.)
“FSDH is also the pioneer Custom Duty Collecting Bank in Nigeria.
“It is the first Merchant Bank in Nigeria to re-structure into a Holding Company and in November 2012, became the first Discount House to become a Merchant Bank in Nigeria.
“Providing corporate banking, prestige banking and global markets financing solutions, FSDH Merchant Bank continues to deliver expert and timely financial services within Nigeria and to select clientele, with a goal to succeed together.
“The Merchant Bank was rated A and A- for the year 2019 by prestigious agencies like Agusto & Co. Limited and Global Credit Ratings Co.
“These ratings were given based on the bank’s sustained record of good capitalization, good liquidity, good profitability and an experienced management team.
“Even amidst a crisis, FSDH Merchant Bank continues to find ways to innovate in the Nigerian financial services industry,” she said.
Credit: NAN
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Business and Economy
Kogi GOBO Initiative Empowers Petty Traders in Kabba Central Market, Reinforces Support for Governor Ododo
By Abah Benjamin Eneojoh
The Kogi Forum of Senior Special Assistants (KFSSA) and leaders of the Governor Ododo Business Outreach (GOBO) today 22-11-2024 visited Kabba Central Market to empower local traders and engage community leaders.
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Led by Hon. Yahaya Shehu Ahmed, Chairman and Director General of GOBO, the delegation began their activities with a courtesy visit to the palace of His Royal Majesty, Oba Solomon Dele Owoniyi. The traditional ruler commended the initiative and the foresight of Governor Ahmed Usman Ododo in appointing competent individuals dedicated to improving the lives of citizens.
The team then visited the official residence of the Executive Chairman of Kabba-Bunu Local Government Area, Hon. (Barr.) Zacchaeus Dare Michael. He expressed his appreciation for the efforts of KFSSA and GOBO, noting that the outreach was a commendable step toward bridging the gap between government appointees and the grassroots.
At Kabba Central Market, the GOBO team provided direct financial support to 20 petty traders, including sellers of berneseed, tomatoes, and roasted plantains. Each beneficiary received 50,000 naira to expand their businesses. The gesture aimed to improve the economic situation of the traders and inspire confidence in the government’s dedication to addressing the needs of ordinary citizens.
The initiative also included plans to monitor the progress of the beneficiaries, ensuring that the financial assistance achieves its intended purpose. Hon. Femi Esemikose and Hon. Augustine Egbebi were tasked with following up on the traders’ activities.
The success of the Kabba-Bunu outreach is expected to serve as a model for similar initiatives in other parts of Kogi West Senatorial District and the state. As the GOBO program continues to expand, more communities will benefit from its efforts to empower individuals and enhance economic development.
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Business and Economy
Naira appreciates N28.85 against dollar at official market
The Naira on Thursday, November 21st, 2024 appreciated at the official market trading at N1,658.67 against the dollar.
Data from the official trading platform of the FMDQ Exchange, revealed that the Naira gained N28.
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This represents a 1.7 per cent gain, compared to the previous trading date on Wednesday when it exchanged at N1,687.52 to a dollar.
However, the total daily turnover reduced to 163.66 million dollars on Thursday, down from to 173.29 million dollars recorded on Wednesday.
At the Investor’s and Exporter’s (I&E) window, the Naira traded between N1,707.50 and N1,631.00 against the dollar.
Source: NAN
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Business and Economy
Governor Ododo Endorses GOBO Initiative, Empowering Small-Scale Entrepreneurs and Vulnerable Populations
By Abah Benjamin Eneojoh
The Executive Governor of Kogi State, His Excellency Alh Ahmed Usman Ododo has thrown his weight behind the Governor Ododo Business Outreach (GOBO) initiative, a program aimed at uplifting marginalized groups and providing economic opportunities at the community level.
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During a strategic meeting with the Kogi State Forum of Senior Special Assistants in his office on 06-11-2024, the Governor expressed his support for GOBO, which aligns with his vision of inclusive governance.
Launched on October 31, 2024, GOBO has already shown positive impact, with increased visibility and support among petty traders and small businesses. The initiative provides sustainable business avenues for those previously lacking access to financial resources and market opportunities.
Hon. Yahaya Shehu Ahmed, Chairman of the Kogi State Forum of Senior Special Assistants, thanked the Governor for his encouragement and support.
The Governor commended the forum’s dedication to GOBO and its commitment to improving citizens’ quality of life, assuring continued support and encouraging ways to deepen GOBO’s impact across the state.
The forum also presented an award of excellence to former Governor Alhaji Yahaya Adoza Bello, recognizing his contributions to the state’s growth and effective governance , particularly the choice of Gov Ododo and his Deputy.
This development is consistent with research highlighting the importance of government support for entrepreneurship development in Kogi State.
Shehu noted that Small and medium-scale enterprises have significantly contributed to the state’s economic growth, stressing that the GOBO initiative demonstrates the power of grassroots-driven solutions and inclusive growth, marking a step towards sustainable development in Kogi State.
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