Orange Corners Nigeria Secures Financial Sponsorship from Stanbic IBTC

29/05/2025

(From L-R: Michel Deelen, Consul General, Kingdom of the Netherlands; Wole Adeniyi, Chief Executive, Stanbic IBTC Bank; Adenike Adeyemi, Executive Director, FATE Foundation, Sonia Onovughakpo Fajusigbe, Economic Policy Adviser & Business Developer Entrepreneurship, Youth Employment and Healthcare of the Consulate General of the Kingdom of the Netherlands, Lagos and Jurriaan Middelhoff, Ambassador for Youth, Education & Employment, Ministry of Foreign Affairs, Netherlands at the partnership signing ceremony held in Lagos Nigeria).

Orange Corners Nigeria (OCN), an initiative of the Kingdom of the Netherlands, implemented by FATE Foundation, welcomed Stanbic IBTC, a leading financial services provider in Nigeria, as a private partner. This partnership marks a significant milestone in the programme’s mission to support young entrepreneurs in Nigeria with the skills, knowledge, and support they need to create sustainable economic opportunities within their communities and to build a thriving entrepreneurial ecosystem in Nigeria.

OCN was launched in Nigeria in 2019 with the support of the Consulate General of the Kingdom of Netherlands in Lagos.

The model in Nigeria is a Business Incubator, an innovation fund, and a student ambassador programme. OCN’s vision is to contribute to a thriving entrepreneurial ecosystem, by providing economic opportunities, skills, and the right networks for youth with innovative business ideas.

Michel Deelen, Consul General, Kingdom of the Netherlands, said while giving his welcome address, ’’Orange Corners is the expression of our belief in the youth of Nigeria. From inception the plan was to do this together with the private sector and we are very pleased to have found a partner in Stanbic IBTC”

The official partnership commemoration ceremony took place on Friday, May 16, 2025, at the Embassy of the Netherlands in Victoria Island, Lagos Nigeria.

“We’re excited to partner with Stanbic IBTC to advance Orange Corners Nigeria’s mission of fostering a thriving entrepreneurial ecosystem, where young people can turn their innovative ideas into successful businesses. This partnership will enable us to provide more comprehensive support, mentorship, and opportunities for growth, ultimately driving innovation and job creation in Nigeria.” Adenike Adeyemi, Executive Director, FATE Foundation said at the ceremony.

In attendance were Michel Deelen, Consul General, Kingdom of the Netherlands; Jurriaan Middelholf, Ambassador for Youth, Education & Employment, Ministry of Foreign Affairs, Netherlands, Wole Adeniyi, Chief Executive, Stanbic IBTC Bank; Adenike Adeyemi, Executive Director, FATE Foundation, Sonia Onovughakpo Fajusigbe, Economic Policy Adviser & Business Developer Entrepreneurship, Youth Employment and Healthcare of the Consulate General of the Kingdom of the Netherlands, Lagos Bambo Adebowale, Dean & Director, The FATE School; Tosin Leye- Odeyemi. Head Sustainability, Risk and Capital Management, Stanbic IBTC Holdings, Great Ukazim, Program Manager, Orange Corners Nigeria; and a few staff members of Stanbic IBTC and FATE Foundation.

Mr. Wole Adeniyi, Chief Executive, Stanbic IBTC Bank stated: “We are going to help catalyse more entrepreneurs and also help the youth. It goes with what we are doing with SME businesses, we are going to be able to scale more, empower them more, and also provide access to financing that will help to support the economy.”

At the ceremony, some current OCN cohort incubatees and alumni members had the opportunity to speak about their businesses, the positive impact that the OCN programme has had on them and their businesses, and the challenges that they are experiencing as aspiring entrepreneurs.

FATE Foundation is Nigeria’s foremost enterprise development organisation that seeks to harness the strong entrepreneurial culture of Nigerians by providing aspiring entrepreneurs with business incubation, growth, and accelerator support required to fully explore their innovative potential, to start, grow and scale their businesses with the mission to foster wealth creation by promoting businesses and entrepreneurial development among Nigerians.

NGX CEO, Temi Popoola, Urges Policymakers, Development Stakeholders to Rethink Africa’s Growth Model

Business Journal

29/05/2025

Temi Popoola, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group (NGX Group), has called on African policymakers, capital market leaders, and development stakeholders to collaboratively rethink the continent’s growth model, anchoring it on homegrown capital, tech-enabled integration, and bold partnerships as pillars of a renewed African development agenda.
Speaking at the 2025 Annual Meetings of the African Development Bank (AfDB) in Abidjan, Popoola emphasized that financial sovereignty and economic resilience must be built on deliberate domestic capital mobilization and scalable, tech-driven solutions.
Reflecting on lessons from the COVID-19 pandemic, he noted that, “when foreign capital dried up and domestic capital stepped in to fill the void, it revealed something powerful: the capital we often seek abroad already exists within our borders. What is needed now is intentionality and a clear plan to mobilise and deploy it effectively.”
Drawing on his leadership of one of Africa’s premier financial market infrastructure institutions, Popoola outlined three foundational pillars for Africa’s financial future: intentionality, financial literacy, and technology-driven inclusion.

He urged public and private institutions alike to “speak the language of capital” by designing frameworks that align with the realities and expectations of local investors. “Foreign capital follows local commitment,” he said. “When African institutions lead with clarity and confidence, others follow. But we must first trust and invest in ourselves.”
Popoola also called for greater cross-border collaboration to accelerate the integration of African capital markets. Referencing the African Exchanges Linkage Project (AELP), an AfDB-backed initiative, he described it as a model for regional capital connectivity while cautioning that regulatory silos and uneven infrastructure remain barriers.
He pointed to Nigeria’s InfraCredit as a successful model for unlocking institutional capital for infrastructure. “We already have the templates, the tools, and the capital. It’s time to act with intent and scale what works.”
Popoola’s call for African-led solutions comes at a pivotal moment for the continent’s premier development institution. The 2025 meetings marked the final one under the leadership of Dr. Akinwumi Adesina, whose decade-long tenure as AfDB President, saw the Bank’s capital base grow from $93 billion to $318 billion and more than 500 million lives impacted.
Commending these achievements, Popoola urged continuity with even greater ambition and urgency. “There’s now a broader awareness that Africa can solve its own problems. The incoming AfDB leadership and all of us across the public and private sectors must build on this momentum to deliver African-led growth.”
He concluded with a charge to the continent’s leaders and financial actors, stating, “Africa must stop waiting for rescue. Our capital, our ideas, and our partnerships are the keys to unlocking sustainable development from within.”
Popoola’s comments reflect a growing consensus among financial leaders that Africa’s next phase of growth must be self-directed, leveraging local capital and innovation to shape its own development trajectory.

PenOp Appoints Anthonia Ifeanyi-Okoro as Chief Operating Officer

Business Journal

29/05/2025

The Pension Fund Operators Association of Nigeria (PenOp) is pleased to announce the appointment and resumption of Anthonia Ifeanyi-Okoro as its Chief Operating Officer (COO).

Anthonia brings with her over 15 years of extensive experience in business transformation, operations, and strategic delivery. She has worked in a range of high-impact roles across business member organizations and central government institutions in the United Kingdom. Her career has seen her lead and manage major portfolios, programmes, and stakeholder engagements—skills that are critical to the evolving needs of the Nigerian pension industry.

Welcoming her to the role, Oguche Agudah, Chief Executive Officer of PenOp, said: “Anthonia’s experience working with diverse and influential stakeholders, both in the private and public sectors, makes her a valuable addition to the PenOp team. A significant part of our work involves managing various interests across the pension ecosystem, and we are confident that Anthonia’s background equips her well to lead in this capacity. Her appointment is a strategic step toward strengthening our organization to better support the pension industry and deepen its role in Nigeria’s economic growth.”

In her remarks, Anthonia Ifeanyi-Okoro expressed her enthusiasm about joining PenOp at such a pivotal time:

“I’m excited to be part of an organisation that plays such a vital role in Nigeria’s financial and economic landscape. I look forward to bringing my experience to bear in helping move the association—and indeed the industry—forward. More importantly, I’m passionate about contributing to Nigeria’s economic development by supporting financial stability, improving retirement planning, and enhancing the long-term wellbeing of millions of Nigerians.”

PenOp remains committed to driving impactful investments and initiatives within the pension space and believes this appointment will significantly advance its mission.

Wecass Braun Integrated Energy Showcases Management Team

Business Journal

28/05/2025

From left to right: Mrs. Ezeonuegbu Scholar Ifeyinwa – Managing Director, Wecass Braun; Engr. André Braun – International CEO, Wecass Braun and Engr. Forster Onyeka Edward – Nigeria CEO, Wecass Braun at the official unveiling of Wecass Braun’s latest German lighting and solar technologies in Nigeria.

The Puzzle of Nigerian Corporate Prosperity in Harsh Economic Times

Business Journal

28/05/2025

By Elvis Eromosele

In the first quarter of 2025, a curious paradox is playing out across Nigeria’s economic landscape. Discerning observers will notice that the nation’s economic landscape tells a story of stark contrasts.

On the one hand, households groan under the weight of runaway inflation, forex instability, fuel price hikes, and an unrelenting surge in the cost of living. On the other, a stream of earnings reports from banks, telecoms, FMCGs, and even manufacturing firms show a steady rise in revenues and profits.

It almost feels surreal: while the average Nigerian tightens their belt to survive, boardrooms are raising glasses to another quarter in the black. How are companies thriving when their customers are barely surviving?

The answer appears to lie in a complex interplay of strategic pricing, market consolidation, cost-cutting measures, and, unfortunately, consumer sacrifice. Many of Nigeria’s leading corporates have adopted recession-proof strategies that prioritize shareholder value, often at the expense of affordability and accessibility for the average consumer.

Take the financial sector, for instance. Tier-one banks such as Zenith (PAT N312 billion), GTCO (PAT N258 billion), and Access Holdings (PAT N182 billion) all reported robust Q1 2025 profits. These were largely fueled by non-interest income, transaction charges, FX revaluation gains, and aggressive digital expansion.

While interest rates soared, banks reaped returns on government securities and leveraged forex differentials to boost their margins. Meanwhile, small business owners and salary earners struggle to get loans or survive excessive transaction fees.

In the telecoms space, MTN Nigeria (PAT N133 billion) and Airtel Africa (PAT $31 million) posted impressive earnings as data consumption remains inelastic, even during hard times. With more Nigerians relying on mobile data for work, education, and survival, telcos are cashing in. However, data costs have steadily increased, often quietly, adding to household burdens.

Fast-moving consumer goods (FMCG) giants like Nestlé (PAT N30 billion), Cadbury Nigeria (PAT N5.9 billion) and Unilever (PAT N5.2 billion) also joined the profit party.

With dollar volatility affecting import costs, many firms have localised production, increased prices, and reduced pack sizes (a practice known as “shrinkflation”). Consumers, in turn, are forced to adjust consumption habits, often choosing between quantity and quality.

The success of big business however raises uncomfortable questions: is Nigeria’s private sector truly growing sustainably, or merely extracting value in a way that widens the inequality gap?

What is emerging is a two-speed economy. On one track, corporates optimize profits through agility, digital transformation, and price adjustments. On the other, citizens face daily hardships, shrinking purchasing power, stagnant wages, and rising unemployment. The middle class is thinning, while poverty deepens.

I think that government inaction and weak regulation often compound the situation. There may also be companies that exploit regulatory loopholes or benefit from policies that insulate their sectors from real competition. While this fuels short-term gains, it does little to build long-term inclusive growth or economic resilience.

To align corporate success with citizen welfare, Nigeria must prioritize policies that channel profits into inclusive growth. First, the government should expand targeted cash transfers and food subsidies to shield the poorest households from inflation’s bite. Headline inflation stood at 24.23 per cent in the period under review. No wonder therefore that the World Bank’s call for accelerated social protection programs is urgent. Second, investing in labour-intensive sectors like manufacturing and agriculture could create jobs and reduce rural-urban disparities. In addition, addressing insecurity in farming regions would lower food prices, tackling inflation at its root.

Third, monetary policy must balance inflation control with economic stimulus. The Central Bank’s tight policy, while necessary, has raised borrowing costs, stifling small businesses that employ millions. A gradual easing, as inflation is projected to fall to 22.1 per cent in 2025, could spur growth without reigniting price pressures. (NB: A tight monetary policy, implemented by a central bank, aims to curb rapid economic growth and control inflation by slowing down spending and reducing the money supply.)

Finally, companies must share the burden. Corporate social responsibility initiatives, such as affordable pricing for essential goods or investments in community infrastructure, could ease public discontent and foster goodwill.

This is the core of the matter. The glowing quarterly results splashed across business pages paint a picture of corporate triumph, but it’s one cast against a backdrop of growing national despair. This contrast cannot be ignored, and it is also not sustainable.

The corporate sector’s resilience is a testament to adaptability and innovation, but it also underscores a troubling truth: economic growth alone does not lift all boats. Nigeria’s economic narrative cannot be solely about profits and stock valuations; it must include people.

If companies are winning while citizens are weeping, then we are all losing in the long run. What’s needed is a recalibration: one where businesses pursue profit with purpose, governments enforce equity, and the well-being of Nigerians becomes the bottom line that truly matters.

Eromosele, a corporate communication professional and public affairs analyst, wrote via: [email protected]

Fidelity Bank CEO Celebrates Children’s Day 2025 in Lagos

Business Journal

28/05/2025

Managing Director/Chief Executive Officer, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe (Middle); flanked by Fidelity Bank SWEETA kids at the Fidelity Fantasyland celebration in commemoration of the 2025 Children’s Day at the Fidelity Grounds, Oniru, Lagos yesterday.

Newly Appointed MD/CEO Of NAIC Resumes Office, Pledges Inclusive Reforms

Business Journal

28/05/2025

The newly appointed Managing Director/Chief Executive Officer of the Nigerian Agricultural Insurance Corporation (NAIC), Mr. Yazid Shehu Danfulani, yesterday formally resumed office in Abuja, pledging to carry out reforms that would enhance inclusiveness in agricultural sector.

Speaking to members of staff of the Corporation and journalists at a reception organised in his honour at the Corporation’s headquarters in Abuja, Danfulani highlighted his plans for the Corporation, emphasising the importance for access to insurance, collaboration, sensitisation and access to finance to protect agro-allied projects against natural hazards.

He said the Corporation will collaborate with all states government and other stakeholders to enhance easy access to insurance for agricultural and agro-allied projects against natural catastrophes.

The NAIC boss expressed worries that many farmers lack awareness about the function of the Corporation, especially in providing insurance, stating that the Corporation would carry out sensitisation across the country to enlighten farmers on measures to access insurance.

“We will ensure collaboration from the Federal Government to the State Governments. Most of these farmers are not aware of what NAIC is all about. We are going to do a very comprehensive awareness. We are also going to provide more funds so that the farmers would benefit.

My immediate priority is to strengthen the effectiveness and efficiency of NAIC by ensuring our services are more accessible and are also beneficial to farmers in Nigeria. Agricultural sector possesses a lot of challenges due to climate change and other problems that may arise from our localities. We have already conducted the SWOT analysis on our Corporation.“

Danfulani solicited the support of the staff of the Corporation, urging them to be more innovative in tackling challenges in the nation’s agricultural sector, particularly climate change and access to finance. He thanked President Bola Tinubu for giving him the opportunity to serve the nation and promised to carry out reforms that would enhance inclusiveness in the agricultural sector.

Danfulani was appointed MD/CEO of NAIC alongside two other executive directors – Mr Abubakar Umar Jarengo (Executive Director, Operations) and Mr. Babafemi Ayandayo Rasheed (Executive Director, Admin and Finance) on May 21, 2025 by President Bola Tinubu for an initial term of four years.

Stanbic IBTC Holdings Shares Strategic Vision, Performance at 2025 AGM

Business Journal

28/05/2025

Stanbic IBTC Holdings Plc, a member of the Standard Bank Group, recently held its 13th Annual General Meeting (AGM), where it presented its audited financial statements for the year ended 31 December 2024. The AGM highlighted a year marked by strong financial growth, operational resilience, and continued execution of the Group’s long-term strategic priorities.

According to the financial results presented, Stanbic IBTC recorded a net interest income of ₦823.31 billion – an increase of 78.26% from ₦461.86 billion in 2023. This impressive growth translated into a profit before tax of ₦303.80 billion and a profit after tax of ₦225.31 billion, representing a 60.23% year-on-year increase. Earnings per share rose to 1,710 kobo, while the Board proposed a final dividend of 300 kobo per ordinary share, bringing the total dividend for the full year 2024 to 500 kobo; reaffirming the Group’s commitment to delivering long-term value to shareholders

In her remarks, Sola David-Borha, Chairman of Stanbic IBTC Holdings Plc praised the Group’s ability to navigate economic headwinds while advancing its strategic agenda. “We are proud to report strong progress across our key focus areas as Nigeria’s leading end-to-end financial services provider. For the fourth consecutive year, our SME and retail banking businesses ranked first in the 2024 KPMG Nigeria Banking Industry Customer Experience Survey – a testament to our client-centric approach and unwavering commitment to service excellence.”

She added that the Group continued to broaden its product portfolio, scale its technology platforms, and deepen strategic partnerships. “We are continuously evolving to meet our customers’ changing needs while maintaining the standards of excellence that define Stanbic IBTC,” she said.

Adekunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings, attributed the Group’s achievements to strong financial results, a cultural fortification driven by innovation and a relentless focus on customers.

“Beyond the numbers, we strengthened our customer-first mindset, streamlined operations through digital innovation, and embedded sustainability across our business.”

Looking ahead, Stanbic IBTC reaffirmed its commitment to supporting Nigeria’s economic development by expanding access to credit, promoting financial inclusion, and empowering entrepreneurs and the youth.

The Group will continue to align with the Sustainable Development Goals (SDGs), integrating environmental, social, and governance (ESG) principles into its business strategy.

Despite prevailing economic challenges, the Group remains optimistic and committed to scaling impact, accelerating growth, and delivering value for all stakeholders. Through its focus on operational excellence, customer experience, and digital transformation, Stanbic IBTC continues to cement its leadership in Nigeria’s financial services sector.

Mutual Specialists CEO, Adetola Adegbayi, Identifies Requirements for Attaining Good Retirement

Business Journal

28/05/2025

How to attain good retirement amid prevailing economic headwinds, has been a great challenge to many people but the Founder of Mutual Specialists, Adetola Adegbayi, has helped to provide an answer by identifying steps that should be adopted.
Adetola Adegbayi, who was the Keynote Speaker at the recently held 2025 Inspenonline Retirement Summit in Lagos, whilst speaking on the theme: ‘Attaining Good Retirement Amid Economic Headwinds’ shared practical steps that should be taken to attain good retirement.
According to her, there should be personal finance experts to effectively educate the public, as against product sales agents who are keen on just selling products.
She also noted that there should be financial risk management experts and not promoters of pseudo gambling.
Adetola craved financial structuring/engineering and not financial swindling.
Other solutions are: Financial education specialists and not just commissioned sales agents.
Adherence to 30-30-30-10 rule, which entails active life (Living expenses; discretionary spending; savings and debts repayment, while retirement plan (Bonds; stock & shock; real estate/property and cash)
She submitted that there should be a national wealth management initiative and not just a national budget and that there should be calculated risk taking and not greed, whereby those who want to take get taken.
Adetola Adegbayi’s submissions were supported by the former Commissioner for Insurance, Fola Daniel who was the Chairman of the event; Chairman, STI Leasing Limited, Tom Ogboi; Managing Consultat, Motodols Consults, Mrs. Folashade Onanuga, Commissioner for Insurance, Olusegun Omosehin and many other dignitaries, who advocated early planning and financial prudence as also good tools for good retirement.

P+ Measurement CEO, Philip Odiakose Launches Book on PR Measurement, Evaluation

Business Journal

27/05/2025

Philip Odiakose, one of Africa’s leading media intelligence experts and PR measurement authority has officially launched his much-anticipated book, The Science of Public Relations: A Comprehensive Guide to Measurement and Evaluation.

The book is now available in paperback format in Nigeria and as a digital edition for readers globally.

Rooted in over a decade of hands-on experience, this definitive guide helps PR and communications professionals move beyond assumptions and perception-based reporting toward data-driven, objective-led measurement that commands credibility in boardrooms.

As Chief Media Analyst at P+ Measurement Services, Odiakose has long advocated for evidence-based PR strategies in Africa. His book provides practical frameworks, real-world case studies, and performance audit techniques that support a shift from vanity metrics to Return on Objective (ROO).

“Public relations has often been underestimated due to the lack of measurable outcomes,” said Odiakose. “This book delivers a real-world toolkit for proving value and positioning PR as a strategic driver of results.”

In a major endorsement, respected PR consultant and industry leader, McMedal Olusegun has been appointed as the official advocacy ambassador for the book.

Olusegun will lead efforts to promote its adoption across academic institutions, corporate organisations, and government agencies seeking to reform how communication success is evaluated and reported.

“This book comes at a crucial time for our profession,” said Olusegun. “It demystifies measurement and gives every PR professional—from entry-level to executive—the tools to show impact, not just effort.”

Readers of The Science of Public Relations will gain actionable insights grounded in global frameworks like AMEC, case studies tailored to African and international markets, guidance on building PR dashboards, auditing campaign performance, and a shift in focus from output to outcomes—moving from guesswork to data-led credibility.

Philip Odiakose is Chief Media Analyst at P+ Measurement Services and a global voice in media intelligence.

He is a member of the AMEC Member Lab, and a driving force behind PR measurement education in Africa.

Leadway Group Champions Literacy for 10,000 Children with Third Edition of ‘Pages to Places’ Initiative

Business Journal

27/05/2025

Leadway Group, one of the foremost non-banking financial services groups, is set to roll out the third edition of its transformative Pages to Places campaign.

This initiative, a book reading and donation drive is designed to spark a lifelong love for reading among 10,000 Nigerian children across select states and ignite their imaginations about building a brighter future. This campaign reflects Leadway’s enduring commitment to shaping young minds and supporting educational development, particularly in underserved communities.

By promoting a vibrant reading culture, Leadway’s Pages to Places initiative aims to inspire dreams, reshape children’s narratives, and contribute meaningfully to Nigeria’s educational advancement. In previous editions, Leadway collaborated with prominent Nigerian authors such as Bunmi Aboderin-Talabi, Jude Idada, Titi Umaru, Victoria Afe Inegbedion and Ayo Oyeku to bring storytelling, book readings, and the love for literacy to life.

The campaign has reached 24 schools across nine states, providing books and mobile libraries while also encouraging the facilitation of after-school reading clubs, creating a lasting impact beyond the classroom.

This year, Leadway Group will collaborate with renowned author and culture advocate Lola Shoneyin and the convener of Akada Children’s Book Festival Bunmi Aboderin-Talabi in this third edition for a nationwide book reading and donation drive. The campaign will include visits to 10 public nursery/primary schools across Lagos, Kaduna, Ondo, Enugu, and Edo states, running from May 28 to June 5, 2025. This literary tour is poised to make a meaningful impact on the lives of the participating children, further reaffirming Leadway’s commitment to education, social impact, and the belief that every child, regardless of background, deserves access to knowledge, better dreams, and opportunities.

Aishat Bello-Garuba, Head of Corporate Services, Leadway Group emphasised the initiative’s importance.

“At Leadway, we understand that every child may not be opportune to explore the world, but we trust that children can be transported there through the power of stories. In communities where dreams are limited by circumstance, ‘Pages to Places’ becomes a launchpad for limitless imagination, determined to inspire and empower more children through reading”, she said.

“Our commitment goes beyond providing books and promoting reading culture. We are dedicated to nurturing creativity, learning, and personal growth among Nigerian children. We aim to build stronger communities and inspire hope by expanding access to meaningful literacy to every child, regardless of their background. We understand that empowering children today lays the foundation for tomorrow’s leaders, and through this initiative, we are investing in a brighter and more promising future for these children”, Bello-Garuba added.

About Leadway Group

Leadway Group is a non-banking financial corporation headquartered in Nigeria. Leadway provides non-banking financial solutions ranging from insurance, pension, trusts, health management, asset management, and hospitality.

Digihub Launches Hackathon for Nigerian Innovators, Tech experts, Others to Develop Solutions to Real-World Challenges

Business Journal

27/05/2025

Winners to receive cash rewards, mentorship, others

Digihub Technology Solutions, Benin City, in partnership with Quadorra Technology have launched a hackathon, Innovista Hackathon 1.0 2025 to foster innovation and provide a platform for young Nigerian tech professionals to develop solutions to real-world challenges. Innovista Hackathon 1.0 holds from July 28 to September 13, 2025.

The theme for the event is, “Future Tech: Advancing Health & Finance”. This hackathon explores the powerful intersection of AI, blockchain, biotech, digital health, and fintech, driving breakthroughs that will shape industries and improve lives.

The hackathon will encourage creativity and technological advancement by providing Nigerian tech enthusiasts, Artificial Intelligence enthusiasts, mid-level IT professionals, and software developers, among others the opportunity to innovate, and create impactful digital solutions.

Innovista Hackathon 1.0 promises enticing rewards for top-performing participants with prizes worth over 1 million Naira, including cash rewards, certificates, gadgets, and opportunities for mentorship with industry professionals.

Bernard Anenih, Chairperson of Innovista Hackathon 1.0 and Founder of Quadorra Technology,

says that the overarching vision of the hackathon is to empower innovators, developers, and problem-solvers to come together to harness emerging technologies, build transformative solutions, and push the boundaries of what is possible.

According to him, the mission is “to host hackathons that bring together visionary minds to transform ideas into groundbreaking solutions.” He expressed commitment to fostering creativity, collaboration, and technical excellence, empowering innovators to push the boundaries of technology.

Anenih noted the organisation’s “belief that innovation is fuelled by collaboration, creativity, and a passion for problem-solving. The hackathon is designed to bring together developers, designers, entrepreneurs, and tech enthusiasts to transform bold ideas into real-world solutions.”

Other members of the Innovista Hackathon 1.0 organising team are seasoned tech professionals, Amos Sanmi (Head of Tech & Infrastructure) and Goodnews Eguabor (Head of Partnerships & External Relations).

Registration for the Innovista Hackathon 1.0 is open to tech professionals, programmers, software engineers and health data analysts cum professionals who are passionate about technology and innovation. Registration closes on 5th June 2025.

Experienced professionals, industry leaders, and tech enthusiasts are also invited to apply to be Judges! This presents an opportunity for those who wish to play a key role in evaluating the innovative projects of participants during the hackathon.

Interested participants can visit the official website at https://digihub-ng.tech/innovista-hackathon/ to complete the registration process.

Early registration is encouraged due to limited slots. Updates will be posted on the Facebook, Instagram and LinkedIn platforms of DIgihub Technology Solutions and Quadorra Technology.

#NoNoiseJustSigns: Access Bank Unveils N200m DiamondXtra Season 17 Program to Reward Customers

Business Journal

27/05/2025

L–R: Echezona Ezeuko, Regional Sales Manager, Festac Region, Access Bank PLC; Emmanuel Augustine, Winner, DiamondXtra Promo; Adaeze Ume, Unit Head, Consumer Banking, Access Bank PLC; Pastor Alex Onyeamachi Nwachukwu, Winner, DiamondXtra Promo; and Olukemi Olayinka, Regional Sales Director, Lagos 3 Directorate, Access Bank PLC — during the launch of DiamondXtra Season 17 in Alaba, Lagos.

Access Bank has officially unveiled Season 17 of its flagship loyalty reward scheme, DiamondXtra, with a renewed promise to transform lives and deepen financial inclusion across Nigeria.

To mark the launch, the bank rewarded 165 lucky customers with cash prizes ranging from N5,000 to N100,000 in onsite draws held at the Lagos Trade Fair Complex in Lagos.

DiamondXtra is a hybrid account that merges the benefits of both savings and current accounts. It allows customers to earn interest on deposits while maintaining full transactional functionality.

However, what sets the account apart is its unique reward mechanism—customers automatically qualify for periodic draws that offer life-changing prizes.

One of the major highlights of the new season is the return of the ‘Salary for Life’ initiative, a beloved feature of past seasons. Under this offer, selected winners will receive N200,000 every month for 15 years, amounting to a total benefit of N36 million per winner.

Speaking at the launch event, Adaeze Umeh, Unit Head, Consumer Banking at Access Bank, said: “We are excited to bring back ‘Salary for Life’ in response to customer demand. Winners will receive N200,000 monthly for the next fifteen years. In addition, this year we are introducing digital cluster draws through the Access More app. Customers can generate a referral code and share it with family and friends. Once a group of 50 qualifies, they’ll stand a chance to win N100,000 as a group.”

Umeh also revealed that of the 150 digital clusters planned for the season, 30 will be dedicated exclusively to women—a deliberate move to support the bank’s growing ‘W’ community, which focuses on empowering women through access to finance and opportunities.

Customer feedback played a pivotal role in shaping this year’s prize offerings. According to Umeh, Access Bank routinely polls customers to determine the rewards they prefer.

“The last time they asked for ‘Salary for Life’ was in 2019. Last year, they opted for cars, and we gave out cars. This year, about 40 percent of customers voted for ‘Salary for Life’, and we listened.”

She further explained that three winners will be selected for the salary reward each quarter.

“So far, 131 customers have won ‘Salary for Life’ in previous seasons. These new winners will be joining that exclusive community. We are significantly expanding the scope of rewards this season—from 4,000 winners in Season 16 to a target of 12,000 winners this year with a total sum of N228.7m. That’s three times the number, and it reflects our commitment to mass-market inclusion and social impact.”

The bank has reported that DiamondXtra now boasts over five million account holders, and the bank aims to onboard at least one million more by the end of 2025.

“Our target is not just numbers,” Umeh said. “We want every new and existing customer to experience excellent service, whether in person or digitally. With DiamondXtra, they enjoy interest, convenient banking, and life-changing rewards.”

Also speaking at the event was Olukemi Olayinka, Regional Sales Director at Access Bank, who emphasized the far-reaching impact of the initiative.

“We are thrilled that 165 customers walked away with rewards today, including five individuals who won N100,000 each. Over 33,000 families have benefitted from DiamondXtra since inception. This is about making a difference.”

“Beyond individual rewards, DiamondXtra is also helping entrepreneurs. The scheme now extends support to small and medium-scale enterprises (SMEs) through business training, mentoring, and collateral-free loans.

“It’s more than just savings,” Olayinka noted. “We provide up to ₦10 million in loans based on turnover, without requiring collateral. We guide customers through business challenges, offering the kind of support that ensures sustainability.”

She added that the bank’s continuous reward programme also plays a role in driving financial inclusion.

“Many people are joining the formal banking system for the first time because of DiamondXtra. We’ve acquired thousands of new accounts through this initiative, while also keeping our existing customers actively engaged. To join the winning train and stand a chance to win our mouth-watering cash prizes this season, simply dial *901*5# or walk into any of our branches nationwide to open a DiamondXtra account with a minimum of N5,000. Remember, the more you save, the more chances of you winning in the monthly, quarterly or cluster draws” Olayinka concluded.

DiamondXtra continues to be rolled out across key regions in Nigeria, including Lagos, Abuja, the South-West, and North-Central, making it one of the country’s most far-reaching financial reward programmes.

As Access Bank continues to innovate around financial products with social impact, DiamondXtra stands out as a blueprint for combining banking with purpose, reinforcing the institution’s overarching goal of improving lives and communities across Africa.

Stanbic IBTC Insurance Achieves ISO/IEC 27001:2022 Recertification

Business Journal

27/05/2025

Stanbic IBTC Insurance Limited, a subsidiary of Stanbic IBTC Holdings and a leading life insurance provider in Nigeria, is excited to announce that it has successfully undergone a rigorous recertification process, achieving ISO/IEC 27001:2022 certification.

This prestigious recognition validates that Stanbic IBTC Insurance Limited has effectively implemented and maintained a robust Quality Management System, overseen by DQS Holding GmbH.

DQS Holding GmbH, a part of the globally recognised DQS Group based in Frankfurt, specialises in assessing and certifying management systems across various industries. This recertification underscores Stanbic IBTC Insurance Limited’s commitment to excellence, transparency, and compliance within the insurance sector.

The comprehensive audit examined various aspects of the company’s operations, including its financial practices and adherence to regulatory standards; and highlights Stanbic IBTC Insurance Limited’s commitment to exceeding industry best practices and promoting a culture of integrity and accountability. As a trusted insurance provider, the organisation acknowledges that customer confidence is paramount. The successful recertification enhances its reputation in the market and strengthens relationships with its valued clients; reflecting a proactive stance on risk management and organisational governance, which is essential for protecting the interests of policyholders.

Akinjide Orimolade, Chief Executive of Stanbic IBTC Insurance Limited, expressed pride in the company’s recent recertification. He stated, “We are delighted to receive this new certification, which highlights our ongoing commitment to uphold the highest standards of governance and accountability. This achievement is proof of the hard work and dedication of our exceptional team, reinforcing our promise to our clients and stakeholders.”

Akinjide further emphasised the critical role of trust within the insurance industry, noting its importance in fostering long-lasting relationships with clients. “In an industry where clients seek security and value, we recognise that trust is fundamental. Our team’s dedication to transparency and ethical practices has been instrumental in establishing this trust,” he remarked.

Reiterating Stanbic IBTC Insurance Limited’s mission to provide high-quality insurance products and services, Akinjide affirmed the company’s ongoing commitment to excellence and adherence to stringent industry standards. This certification marks a significant milestone, enhancing the company’s profile as a leading insurer while reinforcing its reputation for reliability and integrity.

“Our ongoing dedication involves investing in our people, processes, and technology to ensure we remain at the forefront of the insurance industry. We will continuously listen to our clients’ feedback, pursue innovative solutions for their needs, and adjust our services accordingly, aiming to meet and exceed the expectations of those who place their trust in us,” Akinjide concluded.

Stanbic IBTC Insurance Limited remains focused on building customer trust and ensuring financial stability. The company is committed to continuous improvement and innovation in its service offerings, enabling it to meet the evolving needs of its clients effectively. This recertification sets a solid foundation for the company as it strives to deliver outstanding insurance solutions, prioritising customer satisfaction and security.

Fatai Lawal Named Nigeria Entity MD as Continental Re Unveils Group Leadership Transition

Business Journal

27/05/2025

L-R: Group Managing Director of Continental Reinsurance Holdings, Mr. Lawrence Nazare and Managing Director, Continental Re-Nigeria Entity, Dr. Fatai Lawal.

Continental Reinsurance Group is pleased to announce several key leadership changes that reflect the company’s continued evolution into a pan-African holding structure and its commitment to robust governance and strategic growth.

Group-Level Appointments

Mr. Lawrence Nazare has been appointed Group Managing Director of Continental Reinsurance Holdings, headquartered in Botswana.

His transition follows the completion of his tenure as Managing Director/CEO of Continental Reinsurance Plc, Nigeria, in December 2024. In this new capacity, Mr. Nazare will oversee the Group’s pan-African operations and long-term strategic direction.

Joining him on the Board of Continental Reinsurance Holdings are two distinguished Non-Executive Directors:

Mr. Paul Kokoricha, former Chairman of Continental Reinsurance Plc, now appointed Chairman of the Board at Group level

Mr. Steve Iwenjora, formerly a Non-Executive Director at Continental Reinsurance Plc, who has now been appointed a Non-Executive Director at Group level

These appointments reinforce the Group’s leadership as it executes the next phase of regional integration and strategic oversight.

Reflecting on his transition to the Group Board, Mr. Kokoricha said:

“It has been an honour to serve as Chairman of Continental Reinsurance Plc, Nigeria, where we achieved significant milestones in growth and governance. As we now pivot to a consolidated Group structure, I am excited to continue supporting the company at this higher level—working with the leadership team to sustain our pan-African momentum and long-term ambition.”

Mr. Nazare added:

“It’s been a privilege to lead our Nigeria business and support the broader Group’s evolution. As I now focus fully on the Group-level role, I remain committed to driving Continental Re’s strategic vision across Africa.”

Nigeria Entity: New CEO and Board Members at Continental Reinsurance Plc

To lead the Nigeria entity in charge of Anglophone West Africa operations, Dr. Fatai Kayode Lawal has been appointed Managing Director/CEO of Continental Reinsurance Plc, Nigeria effective April 2025.

Dr. Fatai Kayode Lawal brings a wealth of experience to his new role. He holds a B.Sc. (Hons) in Insurance from the University of Lagos, an MBA from the same institution, and a Doctorate in Management (Leadership and Organizational management) from the University of Phoenix, AZ. He is a Fellow of the Chartered Insurance Institute of London & Nigeria (FCII, FIIN). He is also a Fellow of the Chartered Institute of Personnel Management of Nigeria and Chartered Institute of Directors. Dr. Lawal’s impressive career includes his most recent position as Managing Director/Chief Executive of Sterling Assurance Nigeria Ltd. from January 2007 to December 2023, where he successfully integrated three merging companies and significantly grew sales. Prior to this, he served as the Managing Director/Chief Executive Officer of Universe Reinsurance Co. Limited, where he improved profitability and expanded markets. His earlier career also includes a leadership role at Refuge Insurance Company Limited and a pioneering management role at Continental Reinsurance Co. Ltd. Dr. Lawal has a proven track record in leadership, strategic development, market expansion, and team building.

Strengthening the Nigeria Board

The Nigeria entity also welcomes three new Non-Executive Directors, whose appointments have received regulatory clearance from the National Insurance Commission:

Segun Adebanji – Chairman of the Board, Non-Executive Director

Mr. Adebanji is a veteran finance professional and Fellow of both the Chartered Association of Certified Accountants and the Institute of Chartered Accountants of Nigeria. His international career includes leadership positions within UAC, Unilever, Nigerian Breweries, and Heineken, with postings in South Africa, Ghana, Namibia, and the Netherlands. He currently chairs Fidson Healthcare Plc and Filmhouse Group Ltd.

Funmilayo Omokhodion – Non-Executive Director

A Chartered Insurer with 36 years of experience in reinsurance, Mrs. Omokhodion rose through the ranks at Africa Re, serving as Regional Director for West Africa and in other senior roles. She holds a BA in English and Linguistics and an Executive MBA in Insurance, and is a member of the Council of the Africa Reinsurance Foundation.

Eno Atoyebi, CFA – Non-Executive Director

With over 25 years in investment management, Mrs. Atoyebi is a Chartered Financial Analyst and Fellow of the Institute of Chartered Accountants of Nigeria. She is currently the Managing Director of ValuAlliance Asset Management and oversees strategy for two mutual funds. Her earlier experience includes senior roles at Afrinvest and ExxonMobil.

These appointments coincide with Continental Re’s 40th anniversary, a milestone that reflects the Group’s enduring legacy, resilience, and readiness for the future. With a strong leadership team in place across both Group and operational levels, Continental Reinsurance is well-positioned to deepen its impact across Africa’s reinsurance landscape.

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