Forex revaluation accounting entry on donation



Open Government Licence All content is available under the Open Government Licence v3. Housing and local services. Consistent with its value enfry a helpful financial institution committed to the growth of individual and business aspirations, the FCMB Group results showed an increase in credits advanced to customers last year. Connect with Companies House on SoundCloud. It added that the location of the branches at Oniru and Redemption Camp takes into consideration convenience for people in Oniru, parts of Victoria Island and Lekki in Lagos and Mowe, Ibafo and adjoining areas in Ogun state along the Lagos-Ibadan Expressway, which is a major gateway to other parts of Nigeria.




Lagos: March 30, — First City Monument Bank FCMB Limited has again demonstrated its commitment towards the sustainable education and empowerment of youths by organising full interactive training sessions on Financial Literacy for students of thirty secondary schools in Nigeria on March 30, The highly exciting and educative session s were anchored by top officials of FCMB and simultaneously took place in five secondary schools each in six states, namely, Anambra, Kebbi, Cross River, Ondo, Nasarawa and Taraba states.

An initiative of the Bankers Committee in collaboration with the Central Bank of Nigeria CBNthe F inancial Lit eracy programme is focused on educating the youth, especially students, on the economic environment, teaching them the key fundamentals of financial literacy, re-enforcing a savings culture, as well as introducing the basics of entrepreneurial and livelihood skills with a view to empowering the next generation to be self-reliant.

The edition marks the fourth consecutive year that FCMB is actively participating in the project. In his presentation to students of St. Okey Ezeala, stated that imbibing financial principles at an early age will go a long way to help students and the young ones work hard, manage their resources effectively, appreciate how money works and how it can be channeled to productive ventures. While advising them to avoid spending money on frivolities, he also counselled the students on the need to open bank accounts and develop the habit of saving part of their income, no matter how small.

Ezeala, who represented the Managing Director of the Bank, Mr. Adam Nuru, stressed that, "our young people are the hope and future drivers of this country. We want them to understand and appreciate the importance of prudent management of resources in ensuring their personal well-being, financial security and independence in future. Saving your money in a box, wallet or at home is a good starting point. However, this method of saving does not grow your money. Money saved at home should be transferred to a Bank or invested after a while.

He urged parents to also enlighten and inculcate in their children the attitude of effective management of resources. In her response, the Principal of St. John of God Secondary School, Lady Anthonia Nwaniki, commended the CBN and FCMB in particular for committing both human and financial resources to execute the Financial Literacy Day initiative. Lady Nwaniki, who forex revaluation accounting entry on donation represented by the Vice Principal, Administration, Mrs. It is capable of making them become achievers.

The training cuts across savings and sense of investment even in education to become responsible citizens in future. My candid advice to parents is to encourage their children to save out of every pocket money they receive. InFCMB carried out a similar programme when it adopted and organised a mentoring session for students of Federal Government Girls College, Akure in Ondo state. The Bank went further by donating a power generating set to the school.

In the previous year, FCMB trained students of Government Girls College, Dala in Kano state. In addition to this, the financial institution renovated and equipped the school hall as part of measures to provide a conducive environment for the students and further enhance the status of the school. About 5, students benefitted from this exercise, which was facilitated by employee volunteers of the Bank.

This expanded approach will go a long way to fast-track the drive of the country to promote financial literacy and inclusion among the citizenry. First City Monument Bank FCMB is a member of FCMB Group Plc, which is one of the leading financial service institutions in Nigeria with subsidiaries that are market leaders in their respective segments. Having successfully transformed to a retail and commercial banking-led group, the Bank has continued to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.

March 27, First City Monument Bank FCMB Limited has opened two additional ultra-modern and full service branches in Lagos and Ogun states. The latest touch points are located at The Hive Mall, Plot 16, T. Kuboye Road, Oniru, Victoria Island in Lagos and within the RCCG Redemption Camp popularly known as Redeem Camp situated at KM 48, Lagos-Ibadan Expressway in Ogun state.

These bring to the number of branches of the Bank spread across Nigeria. In a statement, FCMB explained that the development is part of its strategic expansion plan to ensure that existing and potential customers continuously enjoy the excellent service offerings which the Bank is known for since its establishment 34 years ago.

It added that the location of the branches at Oniru and Redemption Camp takes into consideration convenience for people in Oniru, parts of Victoria Island and Lekki in Lagos and Mowe, Ibafo and adjoining areas in Ogun state along the Lagos-Ibadan Expressway, which is a forex revaluation accounting entry on donation gateway to other parts of Nigeria. Speaking on the opening of the new branches, the Managing Director of First City Monument Bank, Forex revaluation accounting entry on donation.

In his comment, the Vice President and Divisional Head, Service Management and Technology of FCMB, Mr. First City Monument Bank FCMB Limited is a member of FCMB Group Plc, which is one of the leading financial services institutions in Nigeria, with subsidiaries that are market leaders in their respective segments. Following a successful transformation into a retail and commercial banking-led group, FCMB expects to continue to distinguish itself by delivering exceptional services, while enhancing the growth and achievement of the personal and business aspirations of its customers.

Lagos: March 29, FCMB Group Plc has again demonstrated its resilience by reporting a profit before tax PBT of N Profit after tax also rose to N Following these, the financial institution has recommended a dividend of 10 kobo per share to shareholders. FCMB Group which is the holding company of First City Monument Bank FCMB Limited, FCMB Capital Markets Limited, CSL Stockbrokers Limited and CSL Trustees Limited, also reported a number of appreciable growths in key operating areas going by the audited results.

This was in spite of the challenging macroeconomic environment and other regulatory factors. Non-interest income grew to Forex revaluation accounting entry on donation This was mainly driven by N Consistent with its value as a helpful financial institution committed to the growth of individual and business aspirations, the FCMB Group results showed an increase in credits advanced to customers last year.

However, customer deposits reduced to N billion from N billion. First City Monument Bank FCMB Limited, the flagship of FCMB Group Plc and the commercial and retail banking arm of the holding company, also sustained its impressive performance over the years. FCMB Alternate Channels Online Mobile App Banner Convenient banking Banner Business Support Banner Customized Accounts Banner Thinking Future Banner.

FCMB Online Business Version. FCMB Online Corporate Version. FCMB at a Glance. Vision, Mission and Core Values. Mobile and Telephone Fraud. Card and Cheque Fraud. FCMB Educates Students in Schools on Financial Literacy and Savings Culture. FCMB Expands with opening of additional branches in Oniru and Redeem Camp. First City Monument Bank - Investor Relations. DMC Firewall is developed by Dean Marshall Consultancy Ltd. Javascript is required to use GTranslate multilingual website and translation delivery network.

About Us FCMB at a Glance Vision, Mission and Core Values Business Strategy Information on FinBank Merger Associate Companies Corporate Social Responsibility CSR Board of Directors Leadership. Contact Us FCMB Branch Locator FCMB ATM Locator FCMB UK. Dr John Udofa - Non-Executive Director Dr John Udofa holds a HND in Accounting from The Polytechnic Calabar, Nigeria and an MBA from the University of Ibadan and a doctorate degree from Mr Bismarck Rewane - Non-Executive Director Independent Mr.

Adam Nuru - Executive Director, Business Development Mr. Adam Nuru holds a Bachelors Degree in Business Administration with a specialisation in Finance from the Ahmadu Bello University. Olufemi Bakre - Executive Director Institutional Banking for FCMB UK and Nigeria Mr. Forex revaluation accounting entry on donation Odubogun - Non-Executive Director Mr. Olusegun Odubogun until recently was the Chief Executive Officer of Akintola Williams Deloitte and Deloitte West Africa, the successor firm of Olutola Oluseni Mobolurin - Non-Executive Director He has over 30 years of varied exposure and experience in the financial services industry.

Began his career as an investment executive at Plateau Mfon Usoro - Non-Executive Director Independent Mrs. Usoro holds a BSc in Sociology from the University of Calabar, an LLB from the University of Buckingham, B. L from the Nigerian Law Tokunbo Ishmael - Non-Executive Director Mrs. Tokunboh Ishmael is an alumnus of the London Business School and the University of London. She is a Chartered Financial Analyst Senbore - Chairman Otunba Senbore holds a BSc Economics degree from the University of Ibadan.

He is a fellow of the Institute of Chartered Accountants of Nigeria




Accounting Entry


FCMB Expands with opening of additional branches in Oniru and Redeem Camp. March 27, First City Monument Bank (FCMB) Limited has opened two additional ultra. Base cost is the amount against which any proceeds upon disposal are compared in order to determine whether a capital gain or loss has been realised. Hi, We have set up a small new company. We are now entering the transactions into an online accounting package. What entry should I make for the share capital.

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