The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has reiterated the Bank’s commitment to establishing macroeconomic stability, fortifying the banking sector, and establishing Nigeria as a top investment destination.

Cardoso stated during a fireside chat moderated by Andreas Voss, Chief Country Representative, Deutsche Bank Nigeria, at the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos on Saturday, September 6, 2025, that the recapitalisation exercise for banks is “making good progress” and will result in even stronger institutions that can withstand shocks and finance growth.

Key drivers of renewed investor confidence were the CBN’s reforms and the stabilisation of the naira, as extolled by members of the EU Chambers.
Cardoso observed that headline inflation is currently elevated; however, it is decreasing as a consequence of collective efforts. It is anticipated that the advantages of the Bank’s tightening posture will persist.

“We will protect the stability that has been re-established in the financial system with the utmost zeal,” he stated. “Our primary objective is to maintain that stability while simultaneously addressing inflation and ensuring that the financial system is sufficiently resilient to facilitate corporate lending and investment.”
When asked about the impact of high lending rates in Nigeria on investment, the Governor acknowledged the concern but linked it to his previous statement regarding inflation and stability.

He stated that there is a substantial potential for interest rates to decrease in the future as inflation continues to decline and as markets become more efficient in allocating capital. “That is the environment in which stronger corporate lending and higher levels of investment will naturally follow,” he continued.
Cardoso observed that the CBN’s recapitalisation directive, which mandates that banks increase their minimum capital, is specifically intended to fortify the financial system and guarantee that it is capable of supporting a wider range of economic activities.

He also emphasised the importance of technology-driven solutions in order to deepen access and address poverty, as well as efforts to expand financial inclusion and fortify the fintech ecosystem.

It is crucial to note that he identified a positive development in the form of increased collaboration with the fiscal sector, which includes the Ministry of Finance, the Ministry of Trade and Industry, and the Budget Office. This collaboration will enable the country to maintain reforms and achieve long-term stability.

Regarding Nigeria’s position in the global economy, he stated: “The urgency of addressing our own affairs is underscored by the ongoing geopolitical changes. Nigeria is a market that is both large and appealing in its own right, and it is also situated at the entrance to the broader continent and West Africa. This underscores the importance of maintaining stability at home.”
In his introductory remarks, Eurocham President Yann Gilbert characterised the chamber as a conduit that links European businesses with Nigerian policymakers. He stated, “Our members are profoundly dedicated to this nation.” We aspire to establish enduring partnerships, generate employment opportunities, and invest. The purpose of this forum is to foster engagement, dialogue, and solutions that enhance confidence and unleash opportunities between Nigeria and Europe.”

Number one Best Workplace in Banking in Nigeria and recognised as Africa’s most agile company, Sterling Bank Limited celebrated the first anniversary of SeaBaas, the revolutionary core banking system designed and built in Africa.

In just twelve months since its go-live, SeaBaas has processed over 2 billion transactions, reduced processing times by about 60%, and driven a 66% surge in customer adoption, setting new benchmarks for scale, efficiency, and reliability in financial technology.

Since launch, the platform has powered Sterling’s digital ecosystem, OneBank, SterlingPro, Switch, Specta, and more, while enabling fintech integrations, agent banking networks, and third-party solutions. With zero downtime across 365 days of service, SeaBaas has proven its resilience as one of the most dependable

financial platforms on the continent.

“SeaBaas, to us, represents a proof of possibility” said Abubakar Suleiman, Chief Executive, Sterling Bank. “It shows that Africa can build world-class technology, solve complex problems locally, and scale globally. This milestone is a collective victory for every Sterling colleague, our partners, and our customers who believed in the vision.”

Designed by Sterling Bank and developed in collaboration with Peerless Software, KPMG, Bazara Technologies, Revent Technologies, and AppQuest Solutions, alongside Sterling’s in-house engineering talent, SeaBaas has become a model of courage, ingenuity, and execution excellence in Nigeria.

Beyond technology, it has unlocked significant cost savings, freed resources for reinvestment, and accelerated financial inclusion across Nigeria’s economy.

Looking forward, Sterling intends to build on this momentum by expanding SeaBaas capabilities to tackle bold challenges, reimagine financial systems, and showcase the potential of African innovation on a global stage.

“SeaBaas reminds us that when we dare to dream boldly and build courageously, there is no limit to what we can achieve in Africa,” added Suleiman. “This is only the beginning.”

About Sterling Bank

Sterling Bank Limited is a full-service national commercial bank in Nigeria and a member of Sterling Financial Holdings Company. With a heritage of more than 60 years, the bank has evolved from Nigeria’s pre-eminent investment banking institution to a trusted provider of retail, commercial, and corporate banking services.

Sterling is a forward-thinking financial institution committed to transforming lives through innovative solutions, exceptional service, unwavering integrity, and a steadfast focus on its HEART strategy, which centers on Health, Education, Agriculture, Renewable Energy, and

Transportation. As pioneers in digital banking and financial inclusion, Sterling continues to lead by example, showing how purpose-driven leadership can deliver transformative outcomes for individuals, businesses, and society at large.

Guided by a culture of innovation and a passion for excellence, Sterling Bank remains dedicated to redefining the banking experience for millions of customers across Nigeria.

Nigeria’s diversification drive has gathered momentum in recent years as government initiatives push to reduce dependence on crude oil and strengthen non-oil sectors as engines of growth.

From the Central Bank of Nigeria’s RT200 programme to incentives offered by the Nigerian Export Promotion Council (NEPC), the country has implemented policies designed to encourage exporters, boost foreign exchange inflows, and integrate local enterprises into global value chains.

Complementing these efforts, Fidelity Bank Plc has steadily positioned itself as one of the private-sector leaders advancing the country’s non-oil export agenda.

Through its flagship initiative—the Fidelity Nigeria International Trade & Creative Connect (FNITCC), the bank has built a global platform that links Nigerian exporters with international buyers, diaspora markets, and strategic investors.

For a country where oil revenues remain vulnerable to global shocks, FNITCC is more than a corporate innovation. It is a deliberate tool to help Nigeria unlock new streams of foreign exchange, strengthen small businesses, and showcase the creativity and resilience of its people to the world.

Beyond Commodities: A Broader Vision

The design of FNITCC reflects Fidelity’s conviction that Nigeria’s future global competitiveness lies not only in raw commodities but also in value-added goods and services. The expo has created space for agriculture and consumer-packaged goods, but equally for sectors such as fashion, cosmetics, fintech, and the wider creative economy.

The federal government has also increasingly emphasized the need for value addition rather than the mere export of raw commodities. A recent policy directive on shea butter, for instance, underscores this shift by encouraging local processors to refine and package the product before it leaves Nigeria.

The move aligns with broader industrialisation and job-creation objectives, while ensuring that the country captures more value across the production chain—a goal that platforms like FNITCC are now helping to actualize by connecting these upgraded products to international markets.

FNITCC Events are Immersive and Deliberately Multi-sectoral

They combine product exhibitions, breakout sessions, diaspora investment panels, curated workshops, art displays, and even theatrical and fashion performances.

The aim is clear: to connect the breadth of Nigerian enterprise to global markets, while ensuring that exporters are able to meet international standards and access the finance required to scale.

In a statement announcing this year’s FNITCC, Fidelity Bank’s Managing Director and Chief Executive Officer, Dr. Nneka Onyeali-Ikpe, said: “Since 2022 when we hosted the maiden edition, FNITCC has evolved beyond a platform for promoting Nigeria’s non-oil exports to become a veritable showcase of the immense value Nigeria has to offer the global market.” 

London to Houston to Atlanta: Showcasing Nigeria on the Global Stage

The FNITCC journey began in London in November 2022. Hosted at the Novotel London West, the inaugural event drew more than 100 exhibitors and 90 speakers, attracting over 1,000 daily attendees. It unlocked trade and investment deals worth about $250 million, validating the proposition that Nigerian businesses could compete abroad if given the right exposure and institutional support.

A year later, the platform moved to Houston, Texas a city known for its energy base but also home to one of the largest Nigerian diaspora communities in the United States. FNITCC Houston, held in October 2023, attracted over 160 Nigerian and U.S.-based businesses across fintech, commodities, fashion, agriculture, and creative industries. The highlight was a landmark $40 million pre-export finance facility in favour of JohnVents Industries, one of Nigeria’s fast-rising cocoa exporters. The facility, arranged by Afreximbank with Fidelity Bank as the local administrative agent, demonstrated how trade promotion could be matched with access to finance to deliver real outcomes for exporters.

This month, September 18-20, 2025, FNITCC is heading to Atlanta, Georgia. The choice is deliberate: Atlanta has become a hub for Black entrepreneurship, cultural exchange, and diaspora investment in the United States. Its large Nigerian and African diaspora population provides a ready market for ethnic and value-added products, while its robust chambers of commerce and international trade networks make it an attractive gateway for exporters. Fidelity is also partnering with Amplify Africa, the organizers of AFRICON, one of the largest African diaspora business and culture summits in the U.S., to amplify the reach of this edition.

By situating FNITCC in Atlanta, Fidelity Bank is tapping into a dynamic U.S. market and aligning with diaspora-led networks that can act as long-term anchors for trade and investment flows.

Onyeali-Ikpe added: “As part of our commitment to developing platforms that promote economic growth, creativity, and sustainable trade both within Nigeria and internationally, we are pleased to announce the third edition of FNITCC. Since 2022, when we hosted the inaugural edition, the FNITCC expo has been at the heart of driving global market access for local businesses, and I am delighted that this year we will be in the city of Atlanta, USA.”

Consolidating Success and Expanding Scope

Between the London and Houston editions, FNITCC generated a consolidated deal pipeline of over $500 million. For Nigeria, where non-oil exports are still under $5 billion annually, this is a significant achievement. It demonstrates the potential of structured, private-sector-led platforms to complement government diversification policies with measurable outcomes.

FNITCC Atlanta is expected to attract more than 3,000 participants—including exporters, U.S. buyers, policymakers, investors, multinational corporations, and development finance institutions. Programming highlights include B2B matchmaking sessions, policy dialogues, diaspora investment roundtables, and sector-specific workshops. Strategic sectors in focus will include agriculture, consumer goods, energy transition minerals, fashion, beauty, and creative services.

By positioning exporters side-by-side with financiers, regulators, and global buyers, FNITCC provides the missing ecosystem Nigerian businesses often lack when venturing into foreign markets.

Nigeria’s FX Outlook and the Case for Diversification

The timing of Fidelity’s intervention could not be more strategic. The naira has shown greater stability in recent months, supported by a mix of policy reforms and improving inflows, helping to restore investor confidence in the broader economy. With global attention once again turning to Nigeria’s vast potential, this is an opportune moment to deepen non-oil export growth.

The long-term case remains clear: as the world transitions away from fossil fuels, Nigeria cannot afford to depend solely on crude oil revenues. Building new, resilient export pillars is essential to sustaining growth, creating jobs, and securing foreign exchange inflows that are less vulnerable to commodity price swings.

FNITCC sits at the heart of this shift. By showcasing value-added goods, creating structured access to global markets, and linking exporters to international buyers, the platform helps convert Nigeria’s comparative advantages into tangible competitiveness. In doing so, it strengthens the broader diversification drive while reinforcing the growing sense of economic optimism.

A Shared Path to Diversification

Ultimately, what makes FNITCC unique is its ability to bring together policy, finance, and culture under a single umbrella. It complements government-led initiatives and continental frameworks like AfCFTA by giving exporters practical exposure to international markets. It also addresses the financing gap through partnerships with institutions such as Afreximbank, ensuring that deals struck at the expos are not just ceremonial but backed by capital. And by spotlighting Nigeria’s creative and service industries, fashion, fintech, music, and art, FNITCC underscores the country’s growing soft power as a source of foreign exchange in its own right.

In this way, FNITCC is more than an exhibition; it is a platform for national transformation. It embodies the collaboration between government policy and private initiative, while providing exporters the tools to compete on a global stage.

From London to Houston and now Atlanta, it has grown into an institution that is helping Nigeria move closer to the long-held dream of economic diversification, reinforcing optimism that the non-oil sector can become the bedrock of a more resilient, export-led economy.

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has been named Commercial Bank Brand of the Year at the Brand Handlers Summit and Awards in Lagos, reinforcing its place as one of Nigeria’s most influential and customer-focused financial brands.

The Brand Handlers Summit and Awards celebrate excellence in brand building, innovation and customer engagement across diverse industries.

By winning this award, Stanbic IBTC Bank has shown consistent visibility for its strategic efforts in creating meaningful connections with customers, leveraging technology, and positioning itself as a trusted partner in financial solutions.

Over the years, Stanbic IBTC Bank has stood out in Nigeria’s banking industry through its bold storytelling, forward-thinking campaigns, and a customer-first approach. From digital transformation projects that simplify banking to sustainability initiatives that drive social impact, the bank’s brand has consistently aligned with its promise of moving clients forward.

Speaking on the award, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, expressed gratitude for the recognition while emphasising the collective effort behind the achievement.

He said: “We are honoured to be named the Commercial Bank Brand of the Year at the Brand Handlers Summit and Awards. This award speaks to the trust our clients place in us, the dedication of our employees, and the innovative spirit that drives everything we do. At Stanbic IBTC Bank, our brand story has always been about people and empowering them to achieve their personal and business goals. This award, just like many other awards that we have won, inspires us to keep raising the bar in customer experience, digital excellence and brand leadership in Nigeria’s financial services industry.”

The Commercial Bank Brand of the Year award adds to Stanbic IBTC’s growing list of industry recognitions, reinforcing its leadership position in Nigeria’s banking sector and its role as a catalyst for sustainable growth.

Access Holdings has announced the appointment of Mr. Innocent Ike as the substantive Group Managing Director/Chief Executive Officer of the Company, effective August 29, 2025, following the receipt of regulatory approval.

Mr. Ike will succeed Ms. Bolaji Agbede, who has served as the Company’s Acting Group Managing Director/Chief Executive Officer for the past 18 months and has played a vital role in driving the Company’s performance. Due to regulatory stipulations on the required years of experience for a Financial Holding Company’s Managing Director, Ms. Agbede will revert to her substantive role as the Company’s Executive Director, Business Support.

During Ms. Agbede’s tenure, Access Holdco achieved significant milestones, including ensuring workforce stability and seamless transition following the demise of the former Group Chief Executive Officer; successful execution of the Company’s N351 Billion Rights Issue and seamless hosting of two Annual General Meetings of the Company. Her leadership and strategic vision have not only maintained the Company’s momentum but also strengthened its competitive position in the industry.

Commenting on the development, the Company’s Chairman, Mr. Aigboje Aig-Imoukhuede, said:

“We are thrilled to welcome Mr. Innocent Ike as we move forward. At the same time, we want to express our deepest gratitude to Ms. Bolaji Agbede. Her outstanding contributions over the past 18 months have been invaluable, and we appreciate her dedication in navigating the Company through challenges and opportunities. While regulatory requirements necessitate this change, we are grateful for the strong foundation that has been laid.”

Mr. Ike graduated from the University of Lagos with a BSc (Hons) in Accounting in 1988, receiving recognition as the Best Graduating Student. He is a Fellow of the Chartered Institute of Bankers of Nigeria (CIBN), a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN), and a Certified IFRS expert.

He has over three decades experience in banking and financial services, ten years of which were spent at Access Bank, where he rose to General Manager, overseeing portfolios in corporate, commercial, and public sectors.

He served as the Managing Director/Chief Executive Officer of Polaris Bank from 2020 to 2022, during which he launched VULTe, the bank’s digital banking platform, earning several industry awards including the BusinessDay BAFI Digital Bank of the Year Award and the Nigerian Fintech Digital Bank of the Year Award in 2021 and 2022, respectively.

Speaking on the appointment, Mr. Ike said:

“I am honoured to take on the role of Group Managing Director /Chief Executive Officer and excited to work alongside the talented team at Access Holdings. I look forward to building on the strong legacy established by Herbert Wigwe and Bolaji Agbede, and driving our vision forward, ensuring we continue to deliver exceptional value to our shareholders and stakeholders.”

Access Holdings remains committed to becoming the World’s Most Respected African Financial Services Group, and with Innocent Ike at the helm, the Company is well-positioned for sustained success and growth.

Ecobank Nigeria, a subsidiary of the leading pan-African banking group has announced the launch of its Super Rewards campaign in celebration of the Group’s 40th anniversary.

As part of the campaign, more than ₦60 million in cash rewards has been earmarked for loyal customers. The campaign will run from September 2025 through January 2026.

Over the five-month period, a total of 914 customers will be rewarded with various cash prizes amounting to ₦61.2 million, in addition to enjoying a range of benefits that comes with banking with Ecobank.

Announcing the launch in Lagos, Victor Yalokwu, Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, explained that the campaign is designed both to commemorate the Group’s four decades of service in Africa and to reward customer loyalty.

According to Yalokwu “this year’s campaign is a special celebration of Ecobank Group’s 40 years of operations across Africa and show appreciation to our customers by rewarding their loyalty even as we deliver first-class banking services to them. The campaign is open to new and existing individuals, businesses (including SMEs and schools), and youth (students) customers nationwide, including those who reactivate dormant accounts and meet specified deposit and transaction requirements. Monthly draws will be held, ending with a grand finale draw in January, 2026.”

Customers stand a chance to be rewarded with monthly cash prizes, stipends, education scholarships, business funding, and other lifestyle-enhancing rewards. The breakdown of the rewards includes:

Individual accounts: 420 customers from the monthly draws will get ₦16.8 million, with 8 customers getting the grand prize of ₦8 million in January.

Business accounts: 420 customers from the monthly draws will get ₦16.8 million, with 4 customers getting the grand prize of ₦16 million to support their businesses.

Student accounts: 50 customers will be rewarded during the monthly draws, each receiving ₦40,000 (totalling ₦2 million), with 4 youth customers taking the grand reward, receiving education grant of ₦400,000 each (totalling ₦1.6 million).

Yalokwu emphasised the simplicity of the qualification process to encourage broad participation. New individual customers must open an account with a minimum of ₦10,000 and maintain it for 30 days to qualify for monthly draws. For the grand prize, customers must maintain a minimum deposit of ₦40,000 for 3 consecutive months.

Business customers need to open accounts with at least ₦40,000 and maintain the balance similarly, with grand prize qualifications requiring deposit growth of at least ₦400,000.

All participants must transact through Ecobank’s digital channels—including the Ecobank Mobile app, USSD (*326#), Ecobank Business app, OMNIPLUS, internet banking, or debit card. Monthly draw eligibility requires a minimum of four transactions, while grand prize qualification requires twelve transactions. Each deposit increment of ₦10,000 (individual) or ₦40,000 (business) increases chances to earn rewards.

Prospective customers can open accounts via the Ecobank Mobile app, while customers with dormant accounts can reactivate by visiting www.ecobank.com/ng/personal-banking.

“We encourage everyone to join and experience the benefits of banking with Ecobank, while getting rewarded for their loyalty,” Yalokwu concluded.