First City Monument Bank (FCMB), a leading financial services holding company, has announced a partnership with the Rotary Club of Lagos, District 9112, to empower over 200 widows through micro-credit and skills acquisition initiatives. This collaboration was highlighted during the inauguration of Adetunji Lamidi as the 64th president of the Rotary Club of Lagos, emphasizing the club’s commitment to women’s empowerment and financial inclusion.
Empowerment Goals:
– 200 Widows: The partnership will provide micro-credit and skills acquisition opportunities to over 200 widows, promoting their financial independence and empowerment.
– Support for Children and Healthcare:** The Rotary Club plans to commission a secondary school in Iboku Aro village, support over 200 children, and donate five incubators to general hospitals in Lagos. The club has already donated infant incubators to Island Maternity as its first project for the year.
– Support for SMEs: FCMB Managing Director Oluyemi Edun highlighted the bank’s commitment to driving inclusion, national cohesion, and sustainable development. FCMB recently expanded its support for small and medium-sized enterprises (SMEs) across Nigeria by signing a $25 million agreement with the Dutch Entrepreneurial Development Bank and the European Commission.
Expansion of Micro-Credit Fund:
– Increased Funding: Lamidi announced plans to increase the club’s micro-credit fund to N20 million to support five markets across Lagos. Currently, the markets in Gbagada and Oke-Arin benefit from this support, with plans to expand to five other communities.
Additional Initiatives:
– Bore-Hole Projects: The club will build five bore-hole projects to improve access to clean water.
– University Scholarships: Annual scholarships will be provided to 20 university students across Nigeria, furthering educational opportunities for the youth.
Statements from Leaders
Adetunji Lamidi, President of the Rotary Club of Lagos said “Our goals for the year are audacious yet achievable. We plan to commission a secondary school, support over 200 children, empower 200 widows, and donate five incubators to general hospitals. These projects highlight our commitment to community development and women’s empowerment.”
Oluyemi Edun, Managing Director of FCMB added “We are delighted to support the Rotary Club in empowering over 200 widows through micro-credit and skills acquisition. This initiative aligns with our mission to foster inclusion and sustainable development. Our recent initiative to support SMEs further underscores our commitment to economic empowerment.”
The partnership between FCMB and the Rotary Club of Lagos represents a significant step towards promoting financial inclusion and empowering vulnerable groups. Through strategic initiatives and collaborative efforts, both organizations aim to create lasting impacts in the communities they serve.
