By ADEJUWON OSUNNUYI
The contribution of Sterling Bank Plc to the growth of the Nigerian Oil & Gas sector as well as its unique role in the development of Small and Medium Enterprises (SME) in the country was at the weekend rewarded as the financial institution bagged the Best Financial Institution in the Oil & Gas sector Award as well as the Best SME Supporting Bank Award.
The bank’s Executive Director, Abubakar Suleiman was also awarded the Outstanding Achievement in Business and Finance Award.
While the Best Financial Institution in the Oil & Gas sector Award was presented to the Bank by the Petroleum Technology Association of Nigeria (PETAN) at its annual achievement award ceremony held at the weekend in Lagos, the Best Supporting Bank in SME and the Outstanding Achievement in Business and Finance Award given to Mr. Suleiman was organized by the CFO Magazine.
The conferment of the Best Financial Institution in the Oil & Gas Sector Award according to the organizers, is in recognition of the Bank’s contributions to the development of sector through the provision of appropriate finance to indigenous oil and gas companies in the country.
This, according to PETAN is in line with the desire of the federal government to develop local content in the sector.
The Bank, in a statement signed by its Group Head, Strategy & Communications Mr. Shina Atilola said: “The conferment of the Award is in recognition of our role in the development and growth in the oil and gas sector through the provision of required finance. We are particularly delighted to be so recognized by PETAN, an Association of Nigerian indigenous technical oilfield service companies in the upstream and downstream sector in the oil industry and fully recognized by the federal government to come up with the award.
The Award, according to the Bank “would encourage the Bank to continue to support operators in the Oil & Gas sector to guarantee the continued growth for the benefit of the Nigerian economy. The conferment of the Best SME Supporting Bank Award on the Bank, according to the organizers, , is in recognition of the Bank’s contributions to the development of Small and Medium Enterprises (SME) based on its various activities to build the required capacity in the sector.
In a letter sent to the Bank and obtained by our reporter, the Organizers stated that Abubakar Suleiman was conferred with the Outstanding achievement in Business & Finance Award based on his financial experience and determination to always exhibit best practice in corporate governance.
The Group Executive Publisher of The CFO Magazine in an interview described the Award which is in the second year as a novel initiative to promote, reward, honour and encourage exceptional leaders who are offering the best to the society while standing as a role model to young upcoming talents.
The Bank has however assured that it would continue to contribute to the growth of small businesses in the country to enable them grow to become established institutions, given the potential role they play in economic development.
The Bank noted that the Micro, Small and Medium enterprises (MSME) academy organized by the Bank has in the last one year, provided participants with the opportunity to fully appreciate the concept of entrepreneurship and put them in a better position to enhance their managerial capacity while being well equipped to navigate the challenging operating environment.
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