Business
Wema Bank Achieves Recognition as a Top Workplace for Millennials
Wema Bank has been awarded the prestigious certification as a “Great Place to Work” for 2024-2025, recognizing its commitment to fostering a positive workplace culture and promoting innovation. This marks the second consecutive year the bank has received this honor.
The Great Place to Work certification is a globally acknowledged standard that evaluates an organization’s workplace environment, practices, and employee feedback. Wema Bank’s recognition highlights its dedication to employee well-being and a supportive work atmosphere.
In its announcement, Wema Bank noted that it offers industry-leading employee benefits, such as one of the longest standard leave days in the sector, a cost-of-living adjustment to alleviate economic pressures, and salary increases for part-time employees.
The bank also provides facilities like a standard creche and a fully equipped gym, reinforcing its commitment to work-life balance and physical wellness.
Moruf Oseni, the Managing Director and Chief Executive Officer of Wema Bank, credited these achievements to the bank’s strong focus on employee welfare. “Our exceptional output as a bank is a direct result of the dedicated input of our employees, particularly the millennials who drive our success,” Oseni stated. He emphasized the bank’s ongoing commitment to creating an enriching and fulfilling work experience for all employees.
In addition to this recognition, Wema Bank recently launched ALATPay, a new payment gateway designed for micro, small, and medium enterprises (MSMEs). This platform provides a secure shopping experience for customers and ensures instant settlement for merchants through their unique ALATPay link, enhancing financial accessibility in the country.
Former Kaduna Central Senator Shehu Sani has criticized the World Bank for worsening Nigeria’s economic difficulties. In a post shared on X, Sani accused the institution of projecting that Nigeria’s hardship would extend for another 15 years before the country could reach a better economic future. He questioned how many Nigerians would be left to enjoy that future, and how many African nations the World Bank has successfully helped to prosperity.
Sani’s remarks follow the World Bank’s latest *Africa’s Pulse* report, which forecasts that the Nigerian Naira will be among the worst-performing currencies in Sub-Saharan Africa by August 2024. The report placed the Naira’s decline alongside that of the Ethiopian Birr and South Sudanese Pound.
Heirs Insurance Group (HIG) recently announced impressive financial results for the 2023 fiscal year, marking significant growth across all key metrics. The Group’s Gross Written Premium (GWP) surged by 59.3%, from N19.9 billion in 2022 to N31.7 billion in 2023. This remarkable performance underscores HIG’s resilience and operational efficiency, further solidifying its position as one of Nigeria’s fastest-growing insurance firms.
Heirs General Insurance (HGI) saw a 77% increase in GWP, reaching N12 billion in 2023. HGI’s profit before tax (PBT) also rose by 203%, reflecting the company’s effective cost management. Similarly, Heirs Life Assurance (HLA) reported a 71% GWP increase and a staggering 395% rise in PBT. Both companies have demonstrated a strong commitment to customer satisfaction, disbursing billions in claims.
Beyond financial success, HIG actively engages in corporate social responsibility (CSR) projects, contributing over N100 million to education, community development, and financial literacy. With plans for future expansion and innovation, HIG is poised to remain a key player in Nigeria’s evolving insurance market.
Federal Capital Territory (FCT) Minister, Nyesom Wike, has called on Nigerians to fulfill their tax obligations, emphasizing that government revenue is essential for delivering social services. Wike made this appeal during the inaugural Abuja Business and Investment Summit, held in Abuja on Wednesday.
Speaking on the summit’s theme, “Optimising Investment Through Partnerships,” Wike stressed the importance of collaboration to generate investment opportunities. He dismissed the misconception that the government does not need revenue, explaining that taxes are crucial for funding public services.
Wike reiterated that both investors and the government must benefit from such partnerships, ensuring that both parties “go home smiling” through a fair exchange of services and taxes.
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