Stanbic IBTC Bank Unveils APPbility to Transform Digital Financial Lanscape in Nigeria

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19/09/2025

In a milestone move for digital banking, Stanbic IBTC Holdings PLC (Stanbic IBTC), an end-to-end financial institution in Nigeria, is set to revolutionise digital financial transactions through the launch of its enhanced mobile app 3.0 tagged ‘APPbility.’

This platform aims to transform the digital financial landscape across Nigeria.
APPbility builds upon the foundation set by the previously acclaimed Stanbic IBTC Super App, confirming the organization’s commitment to providing leading digital financial solutions. This launch is not merely an update, but a comprehensive upgrade designed to meet users’ intricate financial service needs. APPbility will offer various financial services, from everyday banking transactions to complex financial dealings, all within an easy-to-navigate interface.

Wole Adeniyi, Chief Executive of Stanbic IBTC Bank, expressed excitement and pride when speaking of the revamped mobile app.

“This is not just another launch; it is a monumental stride in our journey towards leading the charge in financial innovation. With APPbility, we are offering our clients an enhanced digital banking experience and redefining the essence of digital financial transactions in Nigeria.”

Kunle Adedeji, Acting Chief Executive of Stanbic IBTC, while explaining some of the new functionalities and rationale behind the launch of the newly revamped app said:

“On the Stanbic IBTC mobile 3.0, users can now access new life and general insurance policies through our Insurance Brokerage services; manage their Trust accounts; and deal in mutual funds and other investments via BluNest—the enhanced asset management investment platform. As an internationally astute organisation, users can now transact in English or Mandarin language, thus enabling more seamless cross-border transactions, all from the app.”
The launch of APPbility signifies a significant leap in banking and financial services. By offering users unparalleled control and convenience, Stanbic IBTC reaffirms its leadership in innovation and customer experience management.

This announcement invites customers, employees, the media, and stakeholders to witness this historic shift in the future of financial services in Nigeria. With the launch of APPbility, Stanbic IBTC ushers in a new era of efficiency, effectiveness, and exceptional service.

Fidelity Bank Commences Disbursement of FGN MSME Intervention Funds

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19/09/2025

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Tier One Lender, Fidelity Bank Plc has commenced the disbursement of the Federal Government of Nigeria’s (FGN) MSME Intervention Funds, administered by the Bank of Industry (BOI), to qualified SMES with a strategic focus on empowering women-owned businesses across the country.

The FGN MSME Intervention Fund is designed to provide accessible financing to micro, small, and medium enterprises (MSMEs) across all 36 states of the federation. The intervention aligns with Fidelity Bank’s commitment to inclusive economic growth and its long-standing support for Nigeria’s SME sector.

In this phase of the disbursement, the bank is prioritizing women entrepreneurs, reinforcing its belief in the catalytic role of women-led enterprises in driving sustainable development and job creation.

Speaking on the development, Osita Ede, Divisional Head, Product Development at Fidelity Bank Plc, said, “as a bank deeply committed to the growth of SMEs, we are proud to partner with the Federal Government and the Bank of Industry on this critical intervention. For this phase, we are placing women at the forefront because we recognise their resilience, innovation, and pivotal contributions to wealth creation and employment generation in Nigeria.”

Fidelity Bank has also put in place a robust structure to ensure seamless onboarding and fund disbursement. Leveraging its nationwide branch network, digital banking platforms, and experienced relationship managers, the bank is poised to reach and support entrepreneurs across urban and rural communities.

The bank’s emergence as a critical player in the disbursement of the FGN MSME intervention Fund strongly aligns with its ongoing initiatives as the leading supporter of SMEs in Nigeria. Recently, the Fidelity SME Empowerment Programme (FSEP) was launched at its Gbagada SME Hub in Lagos.

This flagship initiative provided 100 growth-ready SMEs with ERPRev-enabled POS systems, business software, receipt printers, barcode scanners, inventory support, bookkeeping and branding training, three-day masterclasses, and six months of post-installation monitoring—all at no cost.

Earlier in May 2025, Fidelity Bank also signed an MoU with SMEDAN, Nigeria’s Small and Medium Enterprises Development Agency, to deliver SME-friendly low-interest financing, capacity-building support, and market access for SMEs referred under the agreement.

“Our vision goes beyond financing. We are building an ecosystem of support for SMEs by offering capacity-building programs, mentorship opportunities, and market access. Women entrepreneurs, in particular, will benefit from a larger share of the fund as part of our broader strategy to promote gender inclusion”, Ede added.

The FGN MSME Intervention Fund will further advance the bank’s commitment to empowering small and medium-sized enterprises by expanding access to affordable financing and strategic support. Through this fund, Fidelity Bank aims to deepen its impact on Nigeria’s MSME ecosystem, fostering sustainable growth, job creation, and economic resilience across the country.

About Fidelity Bank

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

Additionally, the Bank was recognised as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Fidelity Bank Extends GAIM 6 Promo, Ups Total Cash Rewards to N189m

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19/09/2025

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Fidelity Bank Plc, a leading financial institution, has announced a three-month extension of its flagship savings campaign, the Get Alert in Millions (GAIM) Season 6 promo, now set to run until 30 November 2025.

In a bold move to further excite and reward customers, the bank has also increased the total cash rewards from ₦159 million to a record ₦189 million.

The announcement follows overwhelming feedback from customers and prospects who requested more time to participate in the campaign. Originally launched in November 2024 with a nine-month timeline ending in August 2025, the promo has now been extended with full regulatory approval.

Speaking to journalists, Osita Ede, Divisional Head, Product Development at Fidelity Bank Plc, stated, “Our decision to extend the GAIM 6 campaign is borne out of the feedback we received from our customers and prospects. They asked for more opportunities to benefit from the promo, and we listened. With management and regulatory consent, we’re thrilled to keep the excitement going for another three months.”

As part of the ongoing campaign, Fidelity Bank recently celebrated 20 customers nationwide, each receiving ₦1 million after being selected in the 7th and 8th monthly draws. Winners are chosen through electronic draws supervised by the Federal Competition and Consumer Protection Commission (FCCPC) and other regulatory bodies to ensure transparency and fairness.

“We are delighted to welcome our newest beneficiaries and commend their loyalty. A million Naira is a life-changing amount, and we encourage them to make the most of it.

One standout feature of GAIM is our financial advisory support at the Fidelity SME Hub, designed to help recipients grow their rewards,” commented Ede on the latest batch of recipients.

With over ₦30 million still up for grabs in the remaining monthly draws, and ₦2 million, ₦5 million, and ₦10 million earmarked for the second runner-up, first runner-up, and grand prize recipient respectively in the final draw, Fidelity Bank is calling on all Nigerians to open and fund their Fidelity Savings Accounts for a chance to be selected.

Through GAIM 6, Fidelity Bank continues to champion financial empowerment, reward customer loyalty, and promote a savings culture across Nigeria — staying true to its mission to help individuals grow, inspire businesses to thrive, and empower economies to prosper.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

PenCom Plans Redesign of Micro Pension Plan to Deepen Financial Inclusion

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19/09/2025

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The National Pension Commission (PenCom) has reiterated that it will redesign the Micro Pension Plan to boost financial inclusion especially in the informal sector.

This was disclosed at the 2025 Annual Conference of the Nigerian Association of Insurance and Pension Editors, with the theme, “Strengthening Insurance and Pension Frameworks for Better Economy.”

Micro Pension Plan is an arrangement under the Contributory Pension Scheme that allows the self-employed and persons working in organisations with less than three employees to make financial contributions towards the provision of a pension for their retirement or upon incapacitation.

Speaking at the conference, the Director-General, PenCom, Ms. Omolola Oloworaran, who was represented by Head, Corporate Communications, PenCom, Mr. Ibrahim Buwai, averred that the majority of the Nigerian workforce was in the informal sector.

He said: “Let’s talk about this issue of expanding the Contributory Pension Scheme towards increasing financial inclusion to grow the informal sector. Even though the data out there of the Nigerian labour force says 70 million or 80 million or what have you. Be that as it may, the consensus there is that the labour force out there largely resides in the informal sector.

“How we bring the informal sector under the contributory pension scheme is made even more important in a country like Nigeria, in order to strengthen the social safety net.” is not that strong. So, pension is what will come in handy to achieve that.

The Micro Pension Plan was launched in 2019 by the National Pension Commission (PenCom), but unfortunately, it has not gained much traction as it has only about 200,000 contributors registered under that plan with an asset of about a billion naira, which is very insignificant.

“What we are engaged in doing now is looking at totally redesigning that product. And in the next few weeks, we are going to come out with a newly branded micro pension plan now called Personal Pension Plan. We recognise the issues with the product. One of the key elements of the product is that that product is going to be stratified to recognise that various segments of the sector. The new plan will be tailored towards the entire sector to cover Artisans, professionals, entertainers, sportsmen, amongst others.

“But the most important thing is to address the challenges especially around onboarding. I am happy because even the keynote speaker mentioned technology-enabled onboarding, so that is part of what we are looking at. We will put technology in place so that onboarding can be as simple as going to the POS to withdraw or lodge money,” Ms Oloworaran said.

The PenCom DG also disclosed that with the increase in FinTech, the regulators were considering a Super- Agent model for the onboarding in close collaboration with PFAs.

Regarding the deployment of pension fund to economic development, PenCom said that it was one area it was focusing on.

“At the moment, we are renewing impetus to ensure that pension funds are invested in infrastructure, private equity etc. This is a two-pronged approach. Apart from the issue of economic development, we are also concerned about the real returns on investment for the benefit of the retirees and contributors. This is to ensure that the real purchasing power of retirees is well protected.

Sovereign Trust Insurance Board Visits NAICOM in Abuja

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19/09/2025

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L-R: Shedrach Odoh, Director, Sovereign Trust Insurance Plc, Eric Balogun, Independent Director, STI Plc, Abimbola Oguntunde, Chairman, Sovereign Trust Insurance Plc, Ugochi Odemelam, Executive Director, Marketing and Business Development, STI Plc, Olusegun Ayo Omosehin, Commissioner for Insurance, National insurance Commission, NAICOM, Emi Faloughi, Director, STI Plc and Ekerete Ola Gam-Ikom, Deputy Commissioner for Insurance, Finance & Admin, NAICOM.

NIIRA Strengthens Insurance Framework to Enhance Contribution to GDP

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19/09/2025

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L-R: Head of Operations, Parthian Pensions Limited, Mr. Adetunbi Ashaye; Group Deputy Managing Director, Afrinvest, Victor Ndukauba; Managing Director/CEO, Rex Insurance Ltd, Mrs. Ebelechukwu Nwachukwu; immediate past Commissioner for Insurance and Chairman of the occasion, Olorundare Sunday Thomas; Chairperson, Nigerian Association of Insurance and Pension Editors (NAIPE), Nkechi Naeche-Esezobor; Director, Legal, Enforcement and Market Development, NAICOM, Talmiz Usman and Head, Corporate Communications, National Pension Commission (PenCom), Mr. Ibrahim Buwai, during the 2025 NAIPE annual conference/10th anniversary, themed ‘Strengthening Insurance and Pension Frameworks for Better Economy,’ in Lagos.

Experts have said that the newly signed Nigerian Insurance Industry Reform Act has strengthened the ability of the sector to improve its contribution to the nation’s Gross Domestic Product.

The industry experts who spoke at the 10th annual conference of the Nigerian Association of Insurance and Pension Editors maintained that the new legislation could position insurance as a key driver of Nigeria’s vision of building a $1 trillion economy.

Signed into law by President Bola Tinubu in July 2025, NIIRA 2025 is designed to expand insurance penetration and improve industry stability.

Commissioner for Insurance/CEO, National Insurance Commission (NAICOM), Mr. Olusegun Omosehin, said that the NIIRA will lead to economic growth, employment generation, and more local retention capacity.

The Commissioner who was represented by the Director, Legal, Enforcement, and Market Development, NAICOM, Dr Talmiz Usman, said: “One of the key things is the repositioning of the sector in terms of the financial muscle. It has now introduced two tiers of capital. The first is the minimum capital requirement. Now the minimum capital has been shored up to N10 billion for Life, N15 billion for Non-Life, and N35 billion for Reinsurance. What this translates to is that insurance companies will have more capacity, higher businesses, take care of higher risks and retain local content. This will also lead to economic growth, employment generation, and more retention of local capacity domestication.

“The second layer is the Risk-Based Capital. This is not a one-size-fits-all. It is time for operators to provide capital that matches the level of their risk exposure. What the regulator is expected to do is to determine that, for an underwriter to underwrite any level of business, you must have a certain level of capital threshold in relation to your risk exposure. What that translates to is that, apart from what we are seeing in terms of that, yes, the company can write, it also translates to building confidence in the insurance sector, and I am sure that for the company to be able to underwrite this kind of business, it has the financial capability to do it.”

Usman asserted that with the NIIRA 2025, companies will be able to pay claims, saying, “The role of the regulator is to make sure that operators pay claims. And that will now boost the trust in the insurance sector.

Another thing that the new Act is encouraging is simplicity of operations. In this case, even the Proposal Form should be as simple as possible for the prospect to be able to understand what he/she is going into.

“The law also provides that before the commencement of your policy, you must issue a policy document which contains the terms of the contract. This was not captured in the previous legal instruments. The law says the policy document must be in simple and clear terms that anybody can see, read and understand. This alone will build trust and boost public confidence in the insurance sector.”

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

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19/09/2025

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Niteon, one of Nigeria’s largest digital export marketplaces, has announced the launch of Niteon Capital, the first neobank built specifically for African manufacturers.

Founded by Nigerian entrepreneurs, Tony Nwose and Daniel Chukwuemelie, the US-based startup has already built a reputation for helping verified African manufacturers, spanning agriculture, fabrics and minerals products connect seamlessly to international buyers.

With operational footprints in the US, UK, Canada, and South Asia, and a recent FDA Global Partner License unlocking export access to the United States, Niteon is already a formidable force in African digital trade.

The launch of Niteon Capital (www.niteoncapital.com), comes as the company gears up for its $1.5 million equity and $5 million debt seed round, signalling a bold expansion into fintech infrastructure to complement its fast-growing marketplace, and taking aim at a deeper, more entrenched problem: Manufacturers’ finance.

“African manufacturers are doing the hard work, but they’re being underserved by traditional banks. There’s no financial infrastructure built for them,” says CEO Tony Nwose. “Niteon Capital changes that.”

The Manufacturer’s Bank: Tailored Trade Finance at Last

Unlike conventional digital banks, Niteon Capital isn’t designed for just anyone. It’s engineered specifically for manufacturers and exporters. This includes:

Invoice & Procurement Financing: To help factories fulfill large purchase orders without cash flow delays.
Sharia-Compliant Financing: Opening access to ethical financing models for manufacturers across Northern Nigeria and other Islamic markets.
Export Wallet Accounts: A revolutionary new financial tool that allows manufacturers to operate export-ready accounts with built-in tax advantages, carbon credit earnings, and multi-currency support.
Infrastructure Loans: Medium-term financing to upgrade machinery, facilities, or logistics capabilities—ensuring African manufacturers can meet global standards.

The entire system is embedded directly into Niteon’s growing export ecosystem, reducing friction between buyers, sellers, logistics providers, and now… banking.

Positioned for Global Scale

The launch of Niteon Capital marks a key inflection point in Niteon’s trajectory, from a B2B marketplace into a comprehensive export ecosystem. It’s not just about matching buyers and sellers anymore. It’s about solving the systemic constraints that have stifled Africa’s trade capacity for decades.

Backed by global players like Seedstars, Tomi Davis, TVC Labs, Zenith Bank, and the Development Bank of Nigeria, Niteon is now positioning itself as a TradeTech leader, building infrastructure that rivals anything on the continent.

“We’re not just scaling a platform,” co-founder Daniel Chukwuemelie adds. “We’re building the financial engine behind Africa’s industrial growth story.”

Next Stop: Seed Round

As Niteon rolls out Niteon Capital across its network, the team has opened its $1.5m equity and $5m debt seed round to strategic partners looking to accelerate African trade.

The funding will power neobank expansion, licensing, deeper AI integration, and onboarding of over 20,000 manufacturers by Q4 2025.

“This is not just another fintech product. It’s a blueprint for how Africa will finance its own industrial future from factory floor to global warehouse.”

Designing the Future: Arc Christian Benimana, Prof Taibat Lawanson to Headline Ecobank Design and Build 2025

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15/09/2025

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Ecobank Nigeria has announced that celebrated architect Arc. Christian Benimana and leading urban planning scholar Prof. Taibat Lawanson will headline the Ecobank Design and Build Exhibition 2025, taking place from September 24 to 28 at the Ecobank Pan African Centre (EPAC), Victoria Island, Lagos.

Arc. Benimana, co-founder of the African Design Centre and principal at MASS Design Group, is internationally recognized for advancing socially responsive and sustainable African architecture. He will deliver a keynote address titled “Designing the Future” on Day 3 of the exhibition.

Prof. Lawanson, Leverhulme Professor of Planning and Heritage at the University of Liverpool, is widely respected for her groundbreaking research on African urban informality, housing, and spatial justice. She will lead a session on “Designing Better Cities and Homes in Nigeria” on Day 2.

The exhibition’s knowledge exchange sessions will also feature:

“International vs. Local: The Sourcing Question for Interior Design” with Patrick Koshoni, Tola Akerele, Aishat Lawal, and Adeyemo Shokunbi.
“Women in Design & Architecture” with Jacqueline Aki, Safiya Yahaya, Nwamaka Okoye, and Sandra Edoho.
Insights from Malik Afegbua, Remi Dada, Adewunmi Adegbola, and Omon Anenih, exploring the future of design, technology, wellness, and sustainability.

Omoboye Odu, Head of SMEs at Ecobank Nigeria, noted:

“These sessions will deliver practical insights and fresh perspectives that can shape the future of design, construction, and architecture across Africa.”

The Ecobank Design and Build Exhibition 2025 underscore the bank’s broader commitment to empowering entrepreneurs, driving financial inclusion, and connecting local businesses with global opportunities. Ecobank Nigeria continues to invest in the growth of SMEs through initiatives such as the Adire Lagos Experience, +234 Art Fair, Ecobank National Schools Team Chess Championship, and Oja Oge 2025. These efforts are complemented by extensive training and empowerment programs designed to strengthen businesses nationwide.

Ecobank Nigeria, a subsidiary of the leading pan-African banking group, looks forward to welcoming industry professionals, entrepreneurs, and enthusiasts to this flagship event.

Sovereign Trust Insurance Wins Enactus Catalyst Award

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15/09/2025

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From L-R: Victor Akinfala, Head Partnerships & Special Projects, Enactus Nigeria, Kayode Adigun, Executive Director, Finance & Corporate Services, Sovereign Trust Insurance Plc, Ugochi Odemelam, Executive Director, Marketing & Business Development, Sovereign Trust Insurance Plc, Micheal Ajayi, Country Director, Enactus Nigeria, Segun Bankole, DGM/Head, Corporate Communications & Investor Relations, Sovereign Trust Insurance Plc and Baribafe Aloega, Programs Officer, Enactus Nigeria at the presentation of the Catalyst Award to Sovereign Trust Insurance Plc in recognition of the company’s invaluable support for the Enactus Programs in Nigeria over the years.

Enactus Nigeria turned 25 years in 2025.

Sovereign Trust Insurance Plc recently received the Enactus Catalyst Award for being a great supporter of both Enactus Nigeria and the global platform over the years.

Enactus’ global network drives their impact and it is a network of 33 independent offices that provide curricular innovations, student team support and funding for participating countries. Enactus is also a network of leaders committed to using business as a catalyst for positive social and environmental impact.

The organisation invests in students who take entrepreneurial action for others in the society with the aim of creating a better world for everyone.

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

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15/09/2025

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The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has disclosed that the Commission is considering a gradual implementation of the global sustainability disclosure standards developed by the International Organisation of Securities Commissions (IOSCO).

Agama, who spoke at an investors’ roundtable on the International Sustainability Standards Board (ISSB) over the weekend, explained that Nigeria, having participated in the taskforce that developed the standards, would continue to support the four pillars on which they were built.

He noted that Nigeria, with its vast natural resources and growing population, “is particularly vulnerable to climate change and is simultaneously pursuing an ambitious sustainable finance agenda.”

While commending the ISSB framework, Agama stressed that Nigeria would not simply “copy and paste” the standards, but would adopt a carefully tailored approach.

“This means: capacity building—working with issuers, auditors, and preparers to ensure they understand and are ready for the new requirements; phased implementation—considering a graduated approach, perhaps beginning with larger, listed entities before expanding to others; assurance framework—developing a robust system for the verification of disclosures to guarantee their credibility; and alignment with local realities—ensuring the global baseline is applied in a way that is appropriate and proportional for our market, while maintaining the core goal of global comparability,” he explained.

Agama added that the Commission opted for this method “because we believe that embracing this global baseline will enhance the attractiveness of the Nigerian capital market. It signals to international investors that we are serious about transparency, governance, and managing long-term risk. It has transformed the ISSB from a promising new initiative into the definitive global framework for sustainability disclosures.”

According to him, “the case for adoption is clear: for global comparability, for investor trust, for managing systemic risk, and for reducing complexity. This is no longer a question of if, but of how and when. The journey to a sustainable global economy requires a common language. The ISSB has provided that lexicon. IOSCO has called us to speak about it. At SEC Nigeria, we have answered that call.”

He reaffirmed the Commission’s commitment to working with stakeholders domestically and across the IOSCO network to implement the standards effectively.

“The global perspective is one of unity and decisive action. By adopting the ISSB standards, we are not just complying with a global trend; we are actively building a more stable, transparent, and sustainable financial future for Nigeria, for Africa, and for the world,” he said.

Universal Insurance MD/CEO, Jeff Duru, Bags CIBN Associate Membership

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15/09/2025

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Dr. Jeff Duru

Managing Director/CEO

Universal Insurance Plc

The Managing Director/CEO of Universal Insurance Plc, Dr. Jeff Duru has been inducted as an Associate member of the Chartered Institute of Bankers of Nigeria (CIBN).

The event, which took place recently in Lagos had 1,242 new members inducted into its ranks of Chartered Bankers and Microfinance Certified Professionals at the 2025 Stream II induction ceremony in Lagos.

The theme of this year’s induction is “The Smart Banker’s Compass: Innovate, Adapt and Solve Like a Pro”, was described as a celebration of excellence, perseverance, and professional growth in Nigeria’s banking sector.

Prof. Pius Olanrewaju, President and Chairman of Council of CIBN, in his welcome address, said the inductees had demonstrated discipline, commitment and resilience in meeting the rigorous standards of the profession.

“True innovation extends far beyond digital tools. It is a transformative mindset that must permeate everything, from product design and process optimisation to how we build and sustain stakeholder trust,” he said.

The CIBN president urged the new members to be exemplary professionals who will drive the future of banking and finance in Nigeria and beyond.

Commenting on his induction into the prestigious institute, Dr. Jeff said: “I am happy to be inducted as an Associate member of the Chartered Institute of Bankers of Nigeria (CIBN). As an insurance expert, I gained a lot from the program. With my PhD in Finance and PhD in Business Administration with concentration on Insurance, coupled with my Fellow of the Chartered Insurance Institute of Nigeria (CIIN) and Associate of the CIBN, I am now a complete financial expert. The syllabus was rich in financial and risk management. It has broadened my horizon and given me that experience.”

Sterling One Foundation CEO, Olapeju Ibekwe, Joins Board of UN Global Compact Network Nigeria Ahead of UNGA 80

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15/09/2025

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Olapeju Ibekwe, Chief Executive Officer of Sterling One Foundation, has been appointed to the Board of the United Nations Global Compact Network Nigeria (UNGCNN), a move that underscores her contributions in shaping Africa’s sustainable development agenda.

The announcement, made via UN Global Compact Network Nigeria’s official channels, comes ahead of the 80th United Nations General Assembly, where Olapeju Ibekwe is expected to engage with leaders from the government, private sector, and civil society to further help forge more effective partnerships that accelerate Africa’s progress towards Agenda 2030.

The appointment, highlights Olapeju Ibekwe’s track record in advancing sustainable solutions across education, health access, and women and youth empowerment. Under her leadership, Sterling One Foundation has built global affiliations and local impact, reaching thousands of beneficiaries while influencing policy and partnerships across Africa.

Experts note that the appointment comes at a critical time. With only 15% of the Sustainable Development Goals (SDGs) on track globally, Africa faces a $200 billion annual financing gap. The challenges extend beyond funding — requiring political will, intentional private sector engagements, courage to execute decisions, and effective cross-sector collaboration.

Commenting on the appointment, she described it as an opportunity to further strengthen the localisation of the SDGs, a cause she has championed through the Sterling One Foundation.

The development also strengthens ties to the UN Global Compact Principles, as well as the African Union’s Women and Youth Financial and Economic Inclusion (WYFEI) 2030 initiative — both of which emphasize inclusive growth and responsible private sector engagement.

Observers say the appointment underscores the importance of convenings like the Africa Social Impact Summit (ASIS), where Olapeju Ibekwe plays a central role in mobilizing governments, businesses, and civil society to forge partnerships that unlock Africa’s potential.

With this new role, Olapeju Ibekwe is poised to bring grassroots experience and continental insights into global conversations, reinforcing the view that Africa is not just a recipient of aid but a driver of innovation and solutions for sustainable development.

The UN Global Compact Network Nigeria is a local chapter of the world’s largest corporate sustainability initiative, mobilising businesses and organisations to align their strategies and operations with universal principles and to take action to advance the SDGs.

FNITCC Atlanta: Fidelity Bank to Spotlight Fintech’s Role in U.S. – Africa Trade

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15/09/2025

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Tier-one lender Fidelity Bank Plc will host a high-profile panel session titled “Digital Railroads: Powering U.S.–Africa Commerce Through Fintech” at the upcoming Fidelity Nigeria International Trade and Creative Connect (FNITCC) in Atlanta, USA.

The session, scheduled for Friday, 19 September 2025, will explore how fintech is reshaping cross-border trade by enabling seamless payments, improving access to finance, and driving financial inclusion across Africa and the diaspora.

The panel will bring together some of the brightest minds in digital finance including: Aisha N. Ahmad, CFA, Former Deputy Governor, Central Bank of Nigeria; Seyi Ebenezer, Founder of Payaza Africa, and a seasoned fintech entrepreneur with over 15 years of experience scaling payment gateways across 20 African countries, Canada, the USA, and UAE; and Charles Oligbo, Founder & CEO of Sawport, an AI-powered platform designed for real-time customer engagement in the diaspora and on the continent.

Speaking ahead of the session, Isaiah Ndukwe, Divisional Head, Agric. and Exports, Fidelity Bank Plc, highlighted fintech’s unique role in unlocking Africa’s trade potential:

“The African Continental Free Trade Area (AfCFTA) is projected to boost intra-African trade by more than 50% by 2030. But challenges like fragmented payment systems, currency conversion, and limited trade finance continue to hold businesses back.

“Fintechs are uniquely positioned to address these gaps—enabling real-time, low-cost cross-border payments, offering alternative financing for SMEs, creating digital identities for exporters, and facilitating diaspora remittances and investments. This is why we’re putting fintech at the heart of discussions at FNITCC Atlanta.”

Hosted in partnership with AFRICON—the premier global gathering of African innovators and changemakers—FNITCC Atlanta will run from 18 to 20 September 2025 at the Omni Atlanta Hotel at Centennial Park, Georgia, USA. The event is expected to attract over 3,000 participants, including investors, trade agencies, exporters, and diaspora professionals, with projected trade and investment deals of more than US$400 million.

Building on the success of previous editions in London (2022) and Houston (2023), this year’s conference underscores Fidelity Bank’s commitment to leveraging fintech as a catalyst for U.S.–Africa commerce, while creating new opportunities across commodities, technology, and the creative industries.

According to the African Development Bank, Africa’s fintech revenues are projected to hit US$30 billion by 2025—a clear sign that digital finance is not just powering transactions but also rewriting the future of trade.

Interested businesses and participants are encouraged to register for the conference at www.fidelitybank.ng/fnitcc.

About Fidelity Bank

Fidelity Bank Plc is a full-fledged commercial bank with over 9.1 million customers who are serviced across its 251 business offices and various digital banking channels in Nigeria and the United Kingdom.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

24th CRMI Int Confab: Shettima, Ugwuoke, Cardoso, Edun, Push for Home-Grown Risk Solutions

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15/09/2025

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L-R: Registrar/CEO, Chartered Risk Management Institute of Nigeria (CRMI), Victor Olannye; Permanent Secretary, Special Duties, Federal Ministry of Finance, Raymond Omachi; Executive Director/Chief Risk Officer, Fidelity Bank Plc and President/Chairman of Council, CRMI, Kevin Ugwuoke; Technical Adviser to the President on Economic and Financial Inclusion, Nurudeen Abubakar Zauro; and Director, Risk Management, Central Bank of Nigeria (CBN), Blaise Ijebor; at the CRMI 24th Annual International Conference in Lagos recently.

Vice President Senator Kashim Shettima has called on the African Union (AU), African Development Bank (AfDB), and Afreximbank to support the efforts of the Chartered Risk Management Institute of Nigeria (CRMI) in tackling the growing wave of global risks confronting Africa.

Speaking at the 24th International Conference of CRMI in Lagos, the Vice President, represented by the Technical Adviser to the President on Economic and Financial Inclusion, Dr. Nurudeen Zauro, emphasized the need for strengthened continental collaboration in addressing risks ranging from climate change and cybersecurity to pandemics, terrorism, and disruptive technologies.

“For over two decades, the Institute has been a beacon of foresight, resilience, and preparedness,” Shettima said. “Risk management is not just a profession—it is a discipline of national importance. The establishment of the Federation of African Risk Management Association marks a historic milestone, positioning Africa to address risks on its own terms.”

The Vice President reaffirmed the Federal Government’s commitment to risk mitigation, noting ongoing initiatives such as #SheIsIncluded, launched in January 2025, to support Nigerian women’s inclusion and resilience in economic participation. He also stressed the importance of community-based early warning systems for floods and droughts, microinsurance schemes, and social protection for farmers as tools for building resilience and national prosperity.

Speaking at the conference themed, “Global Risks, Local Solutions,” the President/Chairman of CRMI’s Governing Council, Kelvin Ugwuoke, underscored the importance of adopting homegrown strategies in addressing global disruptions such as climate change, cyber threats, pandemics, food insecurity, and the implications of artificial intelligence.

“We are witnessing risks driven by climate change, cyber threats, Artificial Intelligence, and geopolitical conflicts such as the Russia–Ukraine war, which have direct consequences on food security and economic stability,” Ugwoke said. “Our mandate is clear: to develop home-grown solutions that help Nigeria and Africa withstand and prosper amid global uncertainties.”

Ugwuoke who also serves as Executive Director, Risk Management at Fidelity Bank Plc, also disclosed that a bill is currently before the National Assembly to formally entrench risk management into national policy, underscoring CRMI’s advocacy for stronger integration of risk principles in both public and private sector decision-making.

Also speaking at the Conference, the Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, represented by Dr. Blaise Ijebor, Director of Risk Management at the CBN, commended CRMI’s leadership in advancing risk management in Nigeria.

“Global risks do not respect borders. Our reforms are designed to integrate risk awareness into financial planning, ensuring economic stability amid evolving uncertainties,” he stated.

Similarly, Minister of Finance, Mr. Wale Edun, represented by Permanent Secretary Raymond Omachi, highlighted the necessity of recent policy reforms such as fuel subsidy removal and exchange rate unification. “Risk management is not about predicting the future, but preparing for it. The future will not be defined by the storms we face, but by the solutions we craft together,” he said.

The 24th International CRMI Conference convened policymakers, business leaders, and experts to deliberate on localized strategies for addressing global risks. It reinforced Nigeria’s leadership role in advancing risk management as a critical tool for economic stability, resilience, and sustainable development.

About CRMI

The Chartered Risk Management Institute of Nigeria (CRMI), established by Act No. 39 of 2022 and founded on March 29, 2000, is the national professional body for risk management in Nigeria.

The Institute promotes best practices, education, research, and advocacy in risk management across industries. Through its flagship Chartered Risk Manager (CRM) certification, professional training, and Mandatory Continuing Professional Education (MCPE), CRMI sets the national standard for excellence in risk management and supports a community of professionals dedicated to advancing the discipline.

Leadway Holdings Acquires PAL Pensions to Strengthen Footprint in Pension Sector

By

Business Journal

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15/09/2025

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Leadway Holdings Limited, one of Nigeria’s foremost and most diversified financial services groups, has announced that it has reached an agreement to acquire 100% equity interest in Pensions Alliance Limited (PAL), a leading Pension Fund Administrator (PFA).

The transaction, which includes the transfer of ownership by FSDH Holding Company Limited (FSDH) and Africa Alliance Insurance Plc, marks a milestone consolidation in Nigeria’s pension industry.

This acquisition of PAL Pensions which recently celebrated the dual milestone of its 20th anniversary and crossing of the N1trillion Asset Under Management (AUM), underscores Leadway Holdings’ strategy of diversification and sustainable growth.

By integrating PAL with Leadway Pensure, the Group creates one of the largest and most resilient pension fund administrators with a reinforced capacity to deliver more value to Nigerians.

The move further expands Leadway’s nationwide reach, positioning it to capture future growth in a pension market with immense potentials. The combined strength in governance, innovation, and customer reach promotes the collective goal of financial inclusion, delivers long-term value to stakeholders, and contributes to the stability of Nigeria’s financial sector.

Commenting on the transaction, Tunde Hassan-Odukale, Group Managing Director, Leadway Holdings Limited, said: “This milestone is more than a transaction, it is a reaffirmation of our belief in the future of Nigeria’s pension industry and our responsibility to help contribute to its growth. By bringing PAL and Leadway Pensure together, we are building not only scale, but resilience, trust, and broader access for more Nigerians to create wealth. At Leadway, we remain guided by a vision of service that balances innovation with integrity, and ambition with inclusivity. This acquisition reflects our commitment to creating lasting value – for our customers, the industry and for the nation.”

Speaking on the development, Segun Odusanya, Group Managing Director FSDH affirmed that the decision was a strategic one taken in line with the global vision of the organisation, with full consideration of the long-term interests of both organisations factored.

“This decision reflects our long-term strategy to sharpen our portfolio focus while ensuring PAL Pensions is well positioned for sustainable growth,” he said.

He further expressed confidence in the vision and strength demonstrated by Leadway Holdings all through the process, affirming that PAL Pensions is indeed being entrusted into capable hands. Also reacting to the development, Sa’adu Jijji, Managing Director, PAL Pensions, expressed his appreciation for the seamless manner with which the transition has been handled, with particular focus placed on protecting the customers, employees and stakeholders of PAL Pensions.

“Our transition from PAL Pension into the Leadway ecosystem, without doubt, opens the door to industry-focused collaboration that is bound to deliver a wider range of financial solutions, more growth, greater impact and enhanced value for all stakeholders in PAL Pensions as we continue to deliver the stellar services we are renowned for.”

The transaction, which remains subject to regulatory approvals, marks a pivotal moment for Leadway Holdings as it strengthens its footprint in Nigeria’s financial services sector.

By unifying PAL with Leadway Pensure, the Group is better positioned for continued growth and industry leadership by creating one of the country’s largest and most resilient pension platforms anchored on governance, trust, and customer value.

As integration progresses under the guidance of PenCom and Leadway’s leadership, contributors and stakeholders can look ahead with confidence to a stable, transparent, and sustainable financially secured future.

About Leadway Holdings Limited

Leadway Holdings Limited is a diversified non-operating financial services group with market-leading positions across insurance, pensions, asset management, trusteeship, and investment solutions.

Since its incorporation in 1970, Leadway has evolved from a traditional insurer into a broad-based financial services platform with interests spanning general and life insurance, pensions, wealth and asset management, health insurance, and hospitality.

For over five decades, the Group has built a reputation for reliability, integrity, innovation, and strong governance, consistently delivering customer-focused solutions that help individuals and institutions protect, grow, and transfer wealth.

Today, Leadway Holdings oversees its portfolio of businesses as one of Nigeria’s most trusted and resilient financial services groups.

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