L-R: Branch Leader, Akure, Fidelity Bank Plc, Mrs. Angela Akeju; Team Lead, CSR, Fidelity Bank Plc, Victoria Abuka; Regional Bank Head, Southwest 1, Fidelity Bank Plc, Folaranmi Jemirin; and Chairman, Ondo State Oil Producing Areas Development Commission (OSOPADEC), Prince Biyi Poroye, at the Fidelity Food Bank distribution event held in Igbokoda Community, Ilaje Local Government Area of Ondo State, recently.

As part of its commitment to improving lives and supporting communities, leading financial institution, Fidelity Bank Plc, has distributed food items in Ilaje and Ese-Odo Local Government Areas of Ondo State.

Speaking during the donation event which took place at Igbokoda, Headquarters of Ilaje Local Government Area, the Regional Bank Head, Southwest 1, Fidelity Bank Plc, Mr. Folaranmi Jemirin, noted that the Fidelity Food Bank initiative was launched as part of the bank’s commitment to reducing hunger and providing relief for disadvantaged communities across Nigeria.

“We are honored to be in Ondo State to continue this impactful initiative, and we hope that today’s donation brings much-needed relief and comfort to the beneficiaries”. Mr Jemirin said.

In her remarks, the Vice Chairman of Ilaje Local Government Area, Mrs. Olurantimi Esejuwon, praised Fidelity Bank for its generosity, particularly towards the aged and people living with disabilities.

“This gesture by Fidelity Bank is a lifeline for many in our communities who are struggling with basic needs. It shows that the bank truly cares about people’s welfare beyond banking services, and we are deeply grateful for their support,” Esejuwon said.

Similarly, the Chairman of Ondo State Oil Producing Areas Development Commission (OSOPADEC), Hon. Biyi Poroye, lauded Fidelity Bank for its generosity and encouraged the bank to establish a branch in Ilaje Local Government, citing the region’s vast economic potential.

One of the beneficiaries, Pastor Ikudehinbu Ademola, also expressed gratitude on behalf of the communities.

“We sincerely appreciate Fidelity Bank for remembering us at this time. Many families here will sleep with joy tonight because of this kind gesture. I also appeal to the bank to consider establishing a branch in Ilaje so we can enjoy closer access to their services,” Ademola said.

The Fidelity Food Bank distribution in Ondo State is the most recent of its ongoing outreaches to make a difference in the lives of Nigerians. Previously, through the food bank initiative, the bank provided essential supplies to over 2,000 residents in multiple locations across Anambra State, further reinforcing the bank’s mission of fostering sustainable impact in communities nationwide.

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 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.

Sterling Financial Holdings Company Plc has sustained its growth momentum, projecting gross earnings of N149.27 billion for the fourth quarter ending December 31, 2025.

This projection builds on the Group’s performance in the first half of the year, when profit after tax rose by 157 percent, gross earnings climbed 39.7 percent to N212.61 billion, and earnings per share rose to 89 kobo from 56 kobo.

Together, these results highlight a strong year-to-date trajectory, reinforcing profitability and boosting investor confidence in the Group’s long-term outlook.

According to the filing on the Nigerian Exchange, Sterling HoldCo expects interest income of N116.73 billion and interest expenses of N42.88 billion, resulting in net revenue from funds of N73.85 billion. The Group also anticipates credit impairment charges of N16.84 billion, with other income projected at N28.37 billion, bringing net operating income to N85.37 billion.

Operating expenses are forecast at N67.24 billion, leaving a profit before tax of N18.13 billion. After accounting for a projected tax of N1.88 billion, profit after tax is estimated at N16.25 billion for the quarter.

Sterling’s cash flow outlook underscores the strength of its balance sheet.

The Group projects N13.56 billion in net cash generated from operating activities, alongside N266.16 billion in financing inflows and N187.93 billion in investing activities.

This is expected to deliver a net increase of N91.79 billion in cash and cash equivalents, with the cash and bank balance closing at N549.90 billion by year-end, compared to N458.11 billion at the start of the quarter.

These forecasts build on the Group’s performance earlier in the year, reflecting the continuation of this momentum, supported by a disciplined focus on cost management, diversified income streams, and prudent balance sheet growth.

Beyond financial performance, the outlook highlights the Group’s capacity to channel its financial strength into broader impact.

Sterling HoldCo is positioned to support key growth sectors of the Nigerian economy, invest in innovation, and continue creating value for shareholders, customers, and communities.

The Group noted that its ability to generate strong operating cashflows while maintaining significant liquidity positions provides a foundation for resilience. This strength ensures that Sterling HoldCo is not only positioned to deliver value to its shareholders but also equipped to deepen its participation in Nigeria’s growth sectors, drive innovation, and support broader economic progress.

These projections are forward-looking and based on current assumptions about market conditions and regulatory developments. Actual results may differ materially.

About Sterling Financial Holdings Company

Sterling Financial Holdings Company PLC is a leading Nigerian financial services group committed to enriching lives through innovation and impact with a diversified portfolio that includes Sterling Bank Limited, The Alternative Bank Limited, SterlingFI Wealth Management among others. As a HoldCo, Sterling provides strategic direction, governance, and resources across its subsidiaries, enabling each to focus on its core mandate while benefiting from groupwide expertise, technology, and oversight.

With a heritage of trust built over six decades, Sterling HoldCo is committed to financial innovation, advancing inclusion, and shaping sustainable growth in Nigeria’s economy.

The Group champions customer-focused solutions and socially responsible initiatives while creating value for shareholders, employees, and the communities it serves. The Group continues to pioneer offerings across its core businesses in banking, payments, and technology-driven financial services.

The 2025 Conference of the Finance Correspondents Association of Nigeria (FICAN) has received strong backing from key financial institutions and regulators, underscoring its significance as a platform for shaping discourse on Nigeria’s digital economy.

Among the supporters of the annual event are the Federal Inland Revenue Service (FIRS), the Central Bank of Nigeria (CBN), Nigeria Export-Import (NEXIM) Bank, United Bank for Africa (UBA), the Nigeria Deposit Insurance Corporation (NDIC) Zenith Bank, First City Monument Bank, Unity Bank, Stanbic IBTC Bank among other key financial institutions.

Their involvement highlights the growing recognition of digital transformation as a driving force in taxation, banking, and finance.

Now in its 35th edition, the FICAN Annual Conference is scheduled to take place on September 20, 2025 at Orchid Hotels, Dreamworld Africana Way, Lekki, Lagos. The theme for this year is: “Bracing for the Digital Economy in Nigeria: Taxation, Banking and Finance.”

Organizers say that apart from the convergence of ideas from regulatory and operations perspectives, the event will provide fresh insights and practical strategies for navigating the fast-changing digital landscape.

The conference will feature Dr Zacch Adedeji, Executive Chairman of FIRS, as Guest Speaker. Dr Adedeji is expected to shed light on how Nigeria can harness technology to strengthen tax administration and improve government revenues in the digital era.

Also billed to speak are Dr. Oliver Alawuba, Group Managing Director of UBA, and Mr Babatunde Olofin, Managing Director of Moniepoint Microfinance Bank Limited, who will deliver keynote addresses. Both executives are anticipated to share perspectives on how financial institutions can adapt their operations, products, and services to a digital-first economy while ensuring inclusion and stability.

A panel session will follow, featuring top industry players and academics who will expand on the guest speaker’s presentation and engage with sub-themes of the conference. Panelists will include representatives from the Nigeria Inter-Bank Settlement System Plc (NIBSS), NDIC, NAIA, AMC ON, Dangote Group, PalmPay, and the Nigeria Customs Service. Dr Yinka David-West of the Lagos Business School will also bring an academic perspective to the discussions.

According to FICAN executive led by Mr. Chima Titus Nwokoji, the goal of the conference is twofold: to build the capacity of financial journalists and to serve as an agenda-setting forum for stakeholders in the economy. By equipping journalists with deeper knowledge of emerging issues in digital finance, the association aims to enhance the quality and accuracy of reporting in the economy.

FICAN, the umbrella body for journalists and editors covering the financial sector, has more than 150 members drawn from print, broadcast, and online platforms. Over the years, its annual conference has become a vital gathering for promoting dialogue between policymakers, regulators, financial institutions, and the media.

“This year’s edition is particularly significant because it coincides with our 35th anniversary,” the association noted in a statement. “As Nigeria navigates the complexities of a digital economy, this platform will provide critical ideas and solutions that can guide stakeholders in taxation, banking, and finance.”

With the active participation of government agencies, regulators, bankers, fintech leaders, academics, and the media, the 2025 FICAN Conference is expected to make far-reaching contributions to Nigeria’s digital economy roadmap.

Nigeria’s Central Bank Governor, Olayemi Cardoso, has held talks with his Brazilian counterpart, Gabriel Muricca Galípolo, to strengthen economic and financial co-operation between the two countries.

The engagement, which took place during President Bola Ahmed Tinubu’s state visit to Brazil, formed part of a broader working visit by the Central Bank of Nigeria (CBN) team to the Banco Central do Brasil. In addition to the Governor’s high-level discussions, the delegation also held a series of technical meetings with their Brazilian counterparts, covering monetary policy, financial stability, and regulatory co-operation.

Cardoso highlighted the importance of deepening institutional ties and knowledge-sharing between the two central banks, pointing to opportunities in payments systems, fintech, and mobile money.

“Nigeria is building a more resilient financial system to attract capital, harness diaspora remittances, and create a stable environment where trade and investment can thrive,” he said.

“Brazil’s experience in financial inclusion offers important lessons, just as Nigeria’s fintech sector has insights of its own,” Cardoso added.

He also noted that Brazil’s large Afro-Brazilian community, the biggest population of African descent outside Africa, provides not only cultural linkages but also significant potential to expand remittance flows between the two countries.

Galípolo welcomed the talks and reiterated Brazil’s interest in broadening collaboration, describing closer ties as beneficial to supporting financial stability and shared prosperity.

Cardoso was accompanied by CBN directors overseeing currency operations, financial policy regulation, and monetary policy. ‎

Ecobank Nigeria, a subsidiary of the leading pan-African banking group, is set to host the second edition of its flagship Design & Build showcase.

The five-day event, themed “How We Build, How We Live,” will run from September 24 to 28, 2025, at the Ecobank Pan African Centre (EPAC), Victoria Island, Lagos, open daily from 10:00 AM to 6:00 PM.

This year’s edition will feature just over 40 carefully selected exhibitors, spotlighting the very best in design, construction, and real estate. By focusing on quality over quantity, the event ensures a rich and meaningful experience for all participants.

Omoboye Odu, Head of SMEs at Ecobank Nigeria, highlighted the significance of the platform: “Design & Build is more than an exhibition—it’s a celebration of visionaries shaping Nigeria’s future. By showcasing quality talent and innovation, we are connecting creators with opportunities that go beyond structures, into building purpose and better living.”

She added that the event underscores Ecobank’s pan-African mission to deepen financial inclusion, empower entrepreneurs, and connect local businesses with international markets.

Titi Fowora, Principal Interior Designer at Inu Designs and Curator of Design & Build 2025, explained her vision: “This edition is intentionally curated. It’s about presenting not just more, but the very best—people, ideas, and innovations that inspire us to rethink how we live and build. From heritage craftsmanship to future-forward solutions, Design & Build is a living canvas of transformation.”

Highlights of Design & Build 2025

• Premier showcase of Nigerian creativity in design, building, and construction
• Daily knowledge sharing sessions with leading voices in architecture, interiors, and urban planning
• Immersive kitchen installations and live cooking experiences
• Attendees can look forward to interactive sessions, networking with decision-makers and industry leaders, insights into global trends, and premium visibility for brands.

Beyond Design & Build, Ecobank Nigeria continues to invest in SMEs through initiatives such as the Adire Lagos Experience, +234 Art Fair, Ecobank National Schools Team Chess Championship, and Oja Oge 2025, alongside training and empowerment programs that strengthen businesses nationwide.

A renowned economist, Dr. Biodun Adedipe, the Chief Consultant/CEO, B. Adedipe & Associates Limited, says fintech and financial inclusion are not only contemporary in the Nigerian financial ecosystem, they also hold exciting promises in the transition of the Nigerian economy from jobless growth of over two decades now, to inclusive and sustainable growth that assures shared prosperity for all stakeholders.

Adedipe added that over $2 billion were invested in fintech and startups by over 50 angel investors and venture capitalists in 2024.

Delivering the keynote paper at the 2^nd Business Journal Fintech & Financial Inclusion Roundtable 2025 in Lagos, Adedipe described financial inclusion as a critical driver of economic growth and poverty alleviation.

“This makes financial inclusion critical to developing economies, especially those like Nigeria that have been experiencing jobless growth in the last 20 years thereabout and also deep in multi-dimensional poverty. The real challenge resides at the bottom of the pyramid where there is not only poor access to finance but also lack of the basic elements that define good quality of life.”

In its 2023 survey, EFInA reported 64% financial inclusion in Nigeria, driven by marginal growth in the banked population and major gains in non-bank formal adoption.

He listed the opportunities of both fintech and financial inclusion in Nigeria to include youthful and tech savvy population, increasing demand for financial services, unbanked and under-served population, significant informal economy estimated at 54% to 58% of Nigeria’s Gross Domestic Product (GDP) and necessity-based entrepreneurship, which is a rampant phenomenon in fragile economies where informal economic activities and low income are pervasive.

Adedipe said the challenges facing the Nigerian economy in terms of fintech and financial inclusion include the ability and capacity of the Central Bank of Nigeria (CBN) in promoting and regulating the two concepts effectively.

He listed past and current CBN interventions as the National Financial Inclusion Strategy, National FinTech Strategy, Strategy for Leveraging Agent Networks to Drive Women’s Financial Inclusion and Payment System Vision 2025.

Other key pitfalls to avoid are measuring, identifying and filling gaps, consumer protection and awareness, cost and affordability, technology and infrastructure.

The economist added that both regulators and operators also face significant risks – market, structural, strategic, cybersecurity and operational, as well cultural barriers and gender bias, and credit assessment and KYC.

“If Nigeria (or any developing country for that matter) will maximally benefit from financial inclusion and the deep role that fintech plays in that process, there must be a balance of interests. That balance will be effective only if all stakeholders collaborate (no one seeking to take advantage of the other) and maintain tight focus on the over-arching purpose of inclusive growth and shared prosperity.”

He said for Nigeria to have an inclusive financial system, policies, regulations, products, services, technology and infrastructure must be inclusive by design.

Other factors include integrated system, safe and efficient digital payment/finance ecosystem,

economically sustainable and commercially viable market infrastructure, robust data information system and effective regulation.

According to Remita “as Nigeria continues to embrace digital transformation and foster innovation in the financial sector, the role of fintech in empowering SMEs will only grow in significance. With a young and dynamic entrepreneurial ecosystem, the demand for fintech solutions tailored for SMEs is expected to soar, driving further innovation and competition in the market.”