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Zenith Bank Brings Christmas To Life With Ajose Adeogun Street Light-up

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It was a great spectacle to behold as the Christmas and Yuletide season came to life at the 2022 Zenith Bank Christmas Light-Up Ceremony, which was held at the Ajose Adeogun Street Roundabout, Victoria Island, Lagos, on Saturday, November 19, 2022.

The official lighting ceremony, which was performed by the Group Managing Director/CEO of Zenith Bank Plc, Mr. Ebenezer Onyeagwu, supported by Executive Management, was witnessed by many of the bank’s staff and customers, with others joining virtually

.With the theme “Let There Be Light”, this year marks the 16th edition of the Light-up Ceremony at the Ajose Adeogun Roundabout.

The Light-Up event is an annual Corporate Social Responsibility (CSR) initiative by the bank to herald the yuletide season through the beautification of Ajose Adeogun Street – home to Zenith Bank’s Corporate Headquarters – which has come to be recognised as an iconic place, attracting people from all walks of life who visit with their families and friends to take pictures and make videos of the wonderful spectacle, especially at night and enjoy the ambience of the street and season.

Speaking during the ceremony, Onyeagwu expressed his delight in heralding the yuletide season of 2022 through the iconic Ajose Adeogun Street lighting up. In his words, “today is a unique day.

It is unique in the sense that we are going to turn on the Christmas light and activate the spirit of Christmas, which we usually have annually.

It is also unique in the sense that we are honoured and delighted to have in our midst the wife of our Founder and Chairman, Mrs. Kay Ovia”.

He praised Quantum Markets, the company responsible for the annual decorations, for the outstanding, very creative and extremely beautiful work that they have done.

According to him, “when you look at the Christmas set-up we have every year, it looks completely different, and there is no repetition of themes.

And when we think we have seen it all, by the time a new one comes, it is something completely different and massively so. The one for this year, as I entered here, I was wondering if this is a theme park”.

Whilst urging everyone to imbibe the message and spirit of Christmas, which is about peace, love, forgiveness and above all, respect for humanity, Onyeagwu prayed for peace in every home, business and in the country and that this year’s celebration would be like no other that we have seen.

Zenith Bank has clearly distinguished itself in the Nigerian financial services industry as an institution committed to building a more sustainable and inclusive economy and promoting responsible business practices in Nigeria through integrating sustainability principles in its business operations.

The bank’s sustainability and CSR initiatives are hinged on the belief that today’s business performance is not all about the financial numbers – the bank believes that an institution’s social investments, contributions to inclusive economic growth and development as well as improvements in the condition of the physical environment, all constitute a balanced scorecard.

Through its CSR initiatives, Zenith Bank has embodied the overarching objective of the 17 Sustainable Development Goals (SDGs), which provide a framework for addressing the major challenges confronting society.

Its social investments are targeted at health, education, women and youth empowerment, sports development and public infrastructure enhancement.

Overall, Zenith Bank’s total CSR investment in 2021 was NGN4.37 billion, representing 1.79% of its Profit After Tax (PAT) and 33.1% increase from 2020.

The bank remains committed to furthering the economic, cultural and social development of host communities, particularly through community-based initiatives and philanthropy.

As a good corporate citizen, it continues to deliver projects that have long-term social and economic benefits for the communities because it believes that its business is only as strong as the communities in which it operates.

To demonstrate its commitment to creating and expanding opportunities, the bank regularly makes donations towards setting up ultramodern ICT centres in several educational institutions and cities across the country.

It also supports various developmental projects, and healthcare delivery causes in Nigeria and contributes to the development of sports in Nigeria through its sponsorship of the Zenith Women Basketball League and the Zenith Bank Delta State Principal’s and Headmaster’s Football Competitions, amongst others.In recognition of its contributions and social investments to its host communities and the society at large, the bank was recognised at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021 as the “Most Responsible Organisation in Africa”.

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Reps summon Emefiele, demand suspension of new cash withdrawal limit

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The house of representatives has asked the Central Bank of Nigeria (CBN) to suspend the limits on weekly cash withdrawals by individuals and corporate entities.

The lawmakers also summoned Godwin Emefiele, CBN governor, over the new policy scheduled to take effect on January 9, 2023.

The resolution was passed during a plenary session on Thursday following the adoption of a motion of urgent public importance sponsored by Aliyu Magaji, a lawmaker from Jigawa.

In a memo issued on Tuesday, signed by the Director of Banking Supervision, Haruna Mustafa, the apex bank directed all banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100,000 and N500, 000, respectively, per week.

It also directed that only N200 and lower denominations should be loaded into banks’ ATMs.

At the plenary, the lawmakers resolved that CBN should halt the implementation pending conclusion of probe.

Emefiele is expected to appear next Thursday.

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Diesel cost: NRC hikes fares on Lagos-Ibadan train service

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The Nigeria Railway Corporation (NRC) has announced new fares for Lagos-Ibadan and Lagos-Abeokuta train services.

In August, NRC reduced the number of trips on the Lagos-Ibadan route due to a hike in the price of diesel.

In a memo seen by newsmen, the train services for the Lagos-Ibadan route were given new fares.

“The new fare on Lagos – Ibadan Train Service (LITS),” the memo reads.

“Lagos – Ibadan, and Ibadan – Lagos; First class (9,000), Business, (6500), Standard, adult (3600), minor (3000).

“Lagos – Abeokuta, and Abeokuta – Lagos; First class (6,000); Business (4,500), Standard, adult (3,000), minor (2,000).

“Abeokuta – Ibadan, and Ibadan – Abeokuta; First class (3,000), Business (2,000), Standard, adult (1,000), Standard, minor (600).”

Meanwhile, last week, the NRC hinted on the increased cost of diesel and other logistics which can be a significant determinant in the new price of train services.

Fidet Okhiria, NRC managing director, had said the increase in price would be done while considering the interests of Nigerians.

Okhiria also called on passengers to make some sacrifices and collaborate with the corporation to ensure the continued provision of the service.

“It is better to have it operating than not operating. It is the service we are providing but in order to provide it, everybody has to make some sacrifices,” Okhiria had said.

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CBN reduces over-the-counter withdrawals to N100k, N500k per week for individuals and companies

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The Central Bank of Nigeria (CBN) has announced a new policy that mandates deposit money banks and other financial institutions to ensure that over-the-counter cash withdrawals by individuals and corporate entities do not exceed N100, 000 and N500, 000, respectively, per week.

The revised cash withdrawal limits, contained in a circular issued today by the apex bank and seen by newsmen, will take effect nationwide on January 9, 2023.

After the policy takes effect, all cash withdrawals above the stated limits will attract processing fees of 5% and 10%, respectively.

The new policy is coming barely weeks after President Muhammadu Buhari launched the newly redesigned N200, N500, and N1000 banknotes.

In line with the new cash withdrawal limits, any third-party cheques above N50, 000 will not be processed over the counter by any bank. The CBN said the “extant limits of N10, 000, 000 on clearing cheques still subsist”.

Weekly withdrawals through automated teller machines (ATMs) will be reduced to N100, 000 per individual. Withdrawals through this will be subject to an N20, 000 daily withdrawal limit.
In the same vein, the daily withdrawal limit through a point of sale (POS) terminals is N20, 000.


Note that the new N500 and N1000 banknotes will not be withdrawn through ATMs, as only N200 and below will be made available through the channel.

The CBN said there is a provision for individuals and corporates to withdraw N5 million and N10 million, respectively, once a month.

However, this is only for rare occasions and all parties intending to take advantage of this provision must provide compelling evidence of legitimate business purposes.

“In compelling circumstances, not exceeding once a month, where cash withdrawal above the prescribed limits is required for legitimate purposes, such cash withdrawals shall not exceed N5, 000,000 and N10, 000, 000 for individuals and corporate organisations, respectively, and shall be subject to the referenced processing fees in (1) above, in addition to the enhanced due diligence and further information requirements.”


To qualify for this exception, individuals and corporate organisations must provide the following information:

Valid means of identification.
Bank verification number (BVN)
Notarised declaration by the customer stating the reason for the excess cash withdrawal.


Written approval by the Managing Directors for drawees withdrawing on behalf of companies.
The CEOs of banks must authorise such withdrawals in writing.

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