L-R: Co-President, Ashoka Africa, Angelou Ezeilo; Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede; Team Lead, Retail Banking, Fidelity Bank Plc, Onyeka Kurume; Winners, Changemaker Idea Pitch-A-Thon, Abule-Eko Community Junior Grammar School Pupils, District 2, Ikorodu Lagos; their Teacher, Alabi Felix; Project Coach, Opeoluwa Jamiu; Branch Leader, Fidelity Bank Plc, Festac, Ethel Genesis; and Regional Director, Ashoka Anglophone, West Africa, Josephine Nzerem; at the Ashoka Young Changemakers Festival in Lagos recently.

As part of its commitment to youth empowerment and social impact, leading financial institution, Fidelity Bank Plc has partnered with Ashoka, a global network of social entrepreneurs, to provide financial support and mentorship to young innovators across Nigeria.

Speaking at the 2025 Ashoka Young Changemakers Festival in Lagos, the Divisional Head, Product Development at Fidelity Bank, Osita Ede, reaffirmed the Bank’s dedication to youth empowerment, emphasising its place as a pillar of the bank’s Corporate Social Responsibility (CSR) strategy.

“Empowerment is at the core of everything Fidelity Bank stands for,” Ede said. “Creativity and innovation are fundamental to our brand essence and that is why we are excited to support these young changemakers. Listening to their ideas today just validates the investments we have made to foster entrepreneurship and creativity.”

Ede confirmed the bank’s willingness to continue funding and supporting the dreams of young people, adding that the bank plans to offer innovators access to its SME Hub’s resources and specialized master classes designed to nurture their growth.

“We are not just funding initiatives; we are creating an enabling environment where these young innovators can thrive. Our SME Hub will serve as a platform to guide and mentor these changemakers, helping them develop the right mindset and business acumen to succeed,” Ede stated.

On her part, Josephine Nzerem, Regional Director, Ashoka Anglophone West Africa & Director, Venture and Talent, Ashoka Africa, expressed her appreciation for the partnership.

“We are excited to move beyond being just Fidelity Bank’s clients to becoming true partners in the change making movement,” Nzerem stated. “Their continuous support which includes funding for awards and gift packs for young innovators, is vital for sustaining this journey. We celebrate not only the Changemakers but also the process of empowering young people to scale their impact and inspire others.”

The Ashoka Young Changemakers Festival celebrates bold ideas, youth leadership, and innovation. The 2025 edition unveiled nine remarkable changemakers poised to transform Nigeria’s future. Together, Fidelity Bank and Ashoka are creating opportunities for young innovators to turn their ideas into solutions that can transform their communities and the world.

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.

Environmental activists and climate change advocates seized the opportunity of a webinar hosted by Unity Bank to call for urgent and coordinated action to tackle Nigeria’s growing plastic pollution crisis, describing it as one of the greatest environmental threats facing the country today.

The call was made at the event marking this year’s World Environment Day facilitated by Unity Bank’s Sustainability Team to fashion out innovative strategies to curb plastic pollution in Nigeria in line with this year’s global theme: “Ending Plastic Pollution.”

In his remarks, Mr. Usman Abdulkadir, Executive Director, Risk Management, Unity Bank Plc, reaffirmed the Bank’s commitment to sustainability, adding that issues like plastic pollution carry deep risk implications for businesses and communities.

“Environmental degradation is increasingly a business risk, not just a corporate social concern,” Mr. Abdulkadir stated. “We must all begin to view environmental stewardship as a duty that cuts across sectors – finance, government, industry, and civil society. Unity Bank remains committed to integrating ESG principles into its risk frameworks and sustainability agenda.”

Guest speakers included leading waste management entrepreneurs and environmental activists such as Sunday Kolawole Sholanke, Co-founder/CEO of PETsPoint Recycling Nigeria, and Omoh Alokwe, Co-founder/CEO of Street Waste Company Limited.

Speaking at the Webinar, Mr. Sholanke decried the alarming volume of plastic waste in Nigeria, putting estimates on the country’s waste generation to about 596 million metric tonnes annually, with 88% of it neither reclaimed nor recycled.

“Nigeria ranks as the 9th highest contributor to global plastic pollution. Much of Nigeria’s plastic waste ends up in landfills, drainage systems, and water bodies, causing extensive environmental damage and posing serious health risks,” he explained.

He also shared startling global statistics: “Over one million plastic bottles and 10 million plastic bags are produced every minute. In 2020 alone, eight million tons of plastic bottles were produced globally, with less than 30% collected and under 10% recycled. The rest is dumped, burned, or abandoned in the environment, worsening risks of flooding, climate disruption, and disease.”

He identified poor waste management culture, low public awareness, and lack of community collection infrastructure as major factors aggravating the Nigeria’s plastic waste crisis.

Calling on the financial services sector to be more proactive, Sholanke urged Banks to invest in green financing by increasing access to affordable credit for green businesses and eco-friendly initiatives.

Also speaking, Omoh Alokwe emphasised the role of regulators in strengthening enforcement and updating policy frameworks to reduce harmful practices that fuel the global plastic crisis.

Also speaking in the same vein, Mr. Ibukun Coker, Head of Strategy and Innovation at Unity Bank Plc emphasised the Bank’s commitment to sustainable practices and environmental protection, highlighting the role of the financial sector in driving meaningful change.

“Plastic pollution is not just an environmental issue, it is an economic and public health crisis,” said Mr. Coker. “At Unity Bank, we believe that sustainability should be more than a policy; it must be embedded in how we operate, the projects we finance, and the partnerships we build.”

The webinar offered a platform for robust dialogue around sustainable actions and innovative solutions that can mitigate the escalating threat of plastic pollution and promote environmental protection.

Unity Bank has consistently championed environmental causes, including its annual Earth Day partnerships with non-profits such as RESWAYE to clean the Royal Beach in Elegushi, Lagos, part of its mission to protect marine ecosystems.

In its most recent Earth Day campaign, the Bank challenged every staff member across 32 states to plant a tree in their locality, driving a grassroots reforestation movement and reinforcing environmental awareness.

L-R: Member, Nexus 2025 Inductee Class, Grace Bamigboje; Caregiver, Old People’s Home, Mrs Kebbi Orinowu; and Products Marketing Partner, Fidelity Bank Plc, Tolulope Rojaiye; at the Fidelity Helping Hands Programme Donation to Old People’s Home, Yaba, Lagos State recently.

Leading financial institution, Fidelity Bank Plc has reaffirmed its commitment to corporate social responsibility with the donation of food and essential items to the Old People’s Home in Yaba, Lagos.

The donation was made possible through the generosity of the bank’s Nexus Inductees Class, under its Corporate Social Responsibility initiative known as the Fidelity Helping Hands Programme (FHHP).

Through the FHHP, staff across Fidelity Bank branches nationwide identify crucial interventions needed in their immediate community and raise funds to execute them. The bank’s management then matches this contribution with an equal amount and disburses it for the selected project.

Commenting on the donation, Divisional Head, Brand and Communications, Fidelity Bank Plc, Dr Meksley Nwagboh, emphasised the bank’s unwavering commitment to impacting its host communities positively noting that the community is an essential part of the bank success story.

“Today’s donation is a token of our appreciation for our incredible parents and guardians who have raised outstanding individuals that trust us with their banking needs. Our donation to the Old People’s Home reflects our deep commitment to supporting the well-being and dignity of our senior citizens. We are honored to contribute to a cause that ensures they receive the care, comfort, and respect they deserve.” Nwagboh stated.

Appreciating the gesture from the bank, the Director-in-Charge of the Home in Yaba, Adetutu Ipaye, said: “Community support initiatives such as this from Fidelity Bank is vital to sustaining our mission and enhancing the quality of life for the elderly. We urge other organizations to follow in the Bank’s footsteps as this kind of support will go a long way to ensure that the elderly live with dignity and comfort.”

One of the beneficiaries from the home, Mr. Kamoru Adeyetu noted that, “your presence today has brought us immense joy, and our greatest happiness lies in seeing the younger generation thrive. Beyond the gifts, your visit means the world to us and please remember to visit us regularly.”

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.

As part of its ongoing efforts to strengthen the banking system, the Central Bank of Nigeria (CBN) introduced time-bound measures for a small number of banks still completing their transition from the temporary regulatory support provided, mostly in response to the economic impact of the COVID-19 pandemic.

This step is part of the CBN’s broader, sequenced strategy to implement the recapitalisation programme announced in 2023. The programme, designed to align with Nigeria’s long-term growth ambitions, has already led to significant capital inflows and balance sheet strengthening across the sector.

Most banks have either completed or are on track to meet the new capital requirements well before the final implementation deadline of March 31, 2026. The measures announced apply only to a limited number of banks. These include temporary restrictions on capital distributions, such as dividends and bonuses, to support retention of internally generated funds and bolster capital adequacy. All affected banks have been formally notified and remain under close supervisory engagement. To support a smooth transition, the CBN has allowed limited, time-bound flexibility within the capital framework, consistent with international regulatory norms. Nigeria generally maintains Risk-Based Capital requirements that are significantly more stringent than the global Basel III minimums.

These adjustments reflect a well-established supervisory process consistent with global norms. Regulators in the U.S., Europe, and other major markets have implemented similar transitional measures as part of post-crisis reform efforts. The CBN remains fully committed to continuous engagement with stakeholders throughout this period via the Bankers’ Committee, the Body of Bank CEOs, and other industry forums.

The goal is to ensure a transparent, predictable, and collaborative regulatory environment. Nigeria’s banking sector remains fundamentally strong. These measures are neither unusual nor cause for concern; they are a continuation of the orderly and deliberate implementation of reforms already underway.

The CBN will continue to take all necessary actions to safeguard the sector’s stability and ensure a robust, resilient financial ecosystem that supports sustainable economic growth.