First City Monument Bank has said its increased and consistent support to Small and Medium-scale Enterprises is aimed at further empowering them to take the lead in the growth and development of Nigeria’s economy.

According to the lender, SMEs are one of the key drivers of the country’s push for economic prosperity due to their potential to create jobs, reduce poverty, and boost production and economic activities.

It urged business owners to keep pace with current and emerging realities in order to make their respective businesses productive and competitive, which would lead to progress for them and the nation.

In a statement titled ‘Why we are intensifying support to small businesses – FCMB’ on Sunday, it said this was to commemorate this year’s International MSME Day, which holds every June 27.

The annual event provided an opportunity to raise public awareness of the contributions of such businesses towards ensuring sustainable development, poverty alleviation, empowerment and other benefits, the bank said

Commenting on the significance of the international SMEs Day and the commitment of FCMB to businesses, the Group Head, Business Banking of the bank, Mr George Ogbonnaya, said the day was very important to the financial institution as a major operator in the global business community.

He said, “We recognise the role of SMEs as catalysts for sustainable development. SMEs in Nigeria have what it takes to compete at the highest level in the international market, but without the requisite exposure and support, it can be very difficult to succeed.”