Certified Pension Institute of Nigeria Holds Workshop in Abuja

19/03/2025

I am very pleased to participate in this three-day national workshop on pension administration.

The Certified Pension Institute of Nigeria takes this type of events very seriously because enhancing the knowledge and skills of members is critical to service delivery in our industry and the growth of the pensions management industry.

At this workshop, I understand that you have discussed issues such as information management, pension accounting and reporting, investment of pension funds, and challenges and prospects of the contributory pension system among others. These are practical and not theoretical knowledge and I expect you to put into practice the best practices that you have learnt in your various organisations.

I also expect you to live up to your obligations to the institute in terms of additional credit hours that you need to attain, payment of your subscriptions on a timely basis, projecting the image of the institute in a positive manner at all times and attracting more members.

Having said that, it is now my pleasure to declare the national workshop of the CPIN closed.

Thanks for your attendance and safe journey back to your various destinations.

Alhaji (Dr) Umaru Kwairanga

President/Chairman of Council

20 New Millionaires Emerge from Fidelity Bank GAIM 6 Promo

Business Journal

19/03/2025

L-R: Oyinkan Kusamotu, Principal Legal Officer, Lagos State Lotteries and Gaming Authority; Adetunji Mustafa, Divisional Head, Strategy, Innovation and Business Transformation, Fidelity Bank Plc; Aboluwade Margaret, South-West Zonal Coordinator, Federal Competition and Consumer Protection Council [FCCPC]; Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc; Chetachi Okechukwu, Regional Bank Head, Ikoyi, Fidelity Bank; and Aigbadon Ehi, Surveillance and Investigation Officer, FCCPC; at the second and third Monthly draws of the Fidelity Bank, Get Alert In Millions Season 6 (GAIM 6) promo in Lagos recently.

Fidelity Bank Plc has announced 20 new millionaires at the 2nd and 3rd monthly draws of its Get Alert in Millions Season 6 (GAIM 6) promo held at the bank corporate head office in Lagos.

The 20 lucky winners, randomly selected through an electronic draw across Lagos, North, Abuja, South-West, South-South, and South-East zones, will be rewarded with the sum of one million naira each.

Speaking at the draws, the promo Chairperson and Executive Director for Lagos and South-West, Fidelity Bank Plc, Dr. Ken Opara represented by the Regional Bank Head, Ikoyi, Chetachi Okechukwu, noted that the GAIM 6 promo was designed to reward customers’ loyalty, encourage a savings culture, and promote financial inclusion across the country.

According to Opara, “Fidelity Bank is dedicated to the financial well-being of our customers and this commitment inspired the launch of the GAIM Promo, designed to cultivate a strong culture of savings.

“Through this promo, customers have the chance to win substantial cash prizes up to N10 million by saving and transacting with their Fidelity Bank Savings accounts. In addition to the monetary rewards, winners will receive complimentary financial advisory services to secure and grow their wealth for the future.”

The monthly draws were monitored by the representatives of relevant regulatory bodies, including the South-West Zonal Coordinator, Federal Competition and Consumer Protection Council (FCCPC), Mrs. Aboluwade Margaret; and the Principal Legal Officer, Lagos State Lotteries and Gaming Authority, Oyinkan Kusamotu.

Since the campaign launched in November 2024, Fidelity Bank has disbursed N19.75 million to 869 customers across different categories. The GAIM 6 campaign, which will run until August 2025, is set to reward lucky customers with a total of N159 million.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 8.5 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

It was also recognised as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023 and the Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

Unity Bank Hosts IWD Webinar, Commits to Accelerating Action Towards Gender Equality

Business Journal

18/03/2025

A cross section of Unity Bank women strike the #AccelerateAction pose in celebration of IWD 2025

Unity Bank Plc has reaffirmed its commitment to women’s empowerment with a series of high-impact initiatives designed to inspire action toward gender equality and sustainable development.

The Bank hosted a webinar with the theme: “Unleashing Women’s Potential,” pivoted by the Unity Bank Women Network as it was marking this year’s International Women’s Day.

Being one of the Bank’s thought-leadership on self-reliance, opportunity and equity, the webinar featured influential female leaders, including Gbemi Olateru-Olagbegi, a Nigerian entrepreneur and media personality, and Oluwabusayo Adegoke, a certified life coach and Strategy Consultant, who shared perspectives on women’s leadership, financial inclusion, and breaking barriers in male-dominated industries. The event provided an opportunity for professionals, entrepreneurs, and young women to gain valuable insights into personal and professional development.

The Bank also spotlighted women making significant contributions to their communities, particularly those driving change through education, mentorship, and financial empowerment. Among them were Abisoye Ajayi-Akinfolarin, a trailblazer empowering girls through technology; Tejumoluwa Olaobaju, an advocate leading the fight against period poverty in her community; and Chioma Ohakwe, a champion of inclusivity and women’s empowerment through targeted skill acquisition programmes for girls and women.

Speaking on the Bank’s commitment to gender equity, Mrs. Particia Ahunanya, Unity Bank’s Chief Compliance Officer and Chair of Unity Bank Women’s Network, stated: “Our commitment to financial inclusion and gender equity has made Unity Bank remain in the vanguard of championing opportunities for empowering women across all sectors. This is in view of the realization that women are crucial drivers of economic growth and societal transformation. Through initiatives like the ‘Unleashing Women’s Potential’ webinar and our community spotlights, the Bank is focused on promoting more initiatives to drive impact among the female gender.”

Unity Bank’s IWD 2025 initiatives align with its broader vision of supporting women in leadership, business, and entrepreneurship. Through gender-focused initiatives – particularly with products like the Yanga Account – the bank is committed to driving financial inclusion and empowering women to actively participate in economic and financial systems. By providing tailored financial solutions, Unity Bank aims to create equal opportunities for women to thrive, grow, and succeed.

As the global conversation on gender equality continues to gain momentum, Unity Bank calls on stakeholders across industries to accelerate actions toward creating a more inclusive society without limitations.

IWD 2025: NIA Supports ADHERI to Empower Women

Business Journal

17/03/2025

In commemoration of the International Women’s Day 2025, the Nigerian Insurers Association (NIA) has extended support to the Advocate for Health, Rights, and Youths Initiative (ADHERI) to empower women in Nigeria.

The support to ADHERI is a testament to NIA’s dedication to empowering women and promoting gender equality.

According to Mrs. Bola Odukale, Director-General of NIA, the association is committed to supporting initiatives and partnering with organisations that promote diversity, equity, and inclusion.

Odukale said this year’s International Women’s Day theme, “Accelerate Action,” resonates deeply with the NIA’s values and mission.

“We believe that empowering women is essential to creating a more inclusive and equitable society.

“This partnership is a step towards creating a more inclusive and equitable society, where women have equal opportunities to thrive and succeed,” the NIA DG added.

Mr. Emmanuel Etim, Founder/Executive Director of ADHERI, commended the NIA under the leadership of Mrs. Odukale for its support.

Etim also acknowledged the efforts of the NIA DG and other women leaders who are championing the cause of the female gender and promoting a more equitable society across various fields.

“We are grateful for the NIA’s support and commitment to empowering women. Together, we can create a more just and equitable society.

“Today, we gather not as individuals confined by borders, but as global advocates united by a shared vision: to amplify the voices of women, shatter barriers, and to create a world where equality and justice are the cornerstones of our societies,” Etim added.

The conference, which attracted professional women from various fields, featured career advancement seminars, leadership and communication skills training, and free one-year life insurance coverage for lucky winners.

Other activities included makeup training and networking sessions, among others.

Allianz Nigeria Insurance Limited Disavows Value Growth Company

Business Journal

17/03/2025

Our attention has been drawn to a purported partnership/agreement between an entity known as Value Growth Company and another company called Allianz General Insurance Company Limited.

We hereby notify the general public that Allianz Nigeria Insurance Limited, with RC No. 234883 and RIC No. 044, has no connection whatsoever with the supposed partnership/agreement. Allianz Nigeria Insurance Limited has no formal or informal partnership, agreement, affiliation, or relationship with either of the two entities mentioned above.

We advise the public that, in our opinion and understanding, the purported agreement contains statements and assertions that are false and misleading. For the avoidance of doubt, Allianz Nigeria Insurance Limited does not underwrite or guarantee any policies, investments, or financial products related to Value Growth Company. Additionally, our registered head office address is not as stated in the documents in circulation, and we do not have any authorized signatories or employees bearing the name of the individual who signed the said document.

Allianz Nigeria Insurance Limited is not liable for any claims or restitutions arising from this purported agreement.

We strongly advise individuals and businesses to exercise caution and verify any insurance-related transactions directly with us through our official communication channels:

Email: [email protected]
Phone: 0800-00-2554269
Website: www.allianz.ng

Allianz Nigeria Insurance Limited remains committed to transparency, integrity, and the highest standards in the financial services industry. Any fraudulent or misleading use of the company’s brand name will be treated with the utmost seriousness, and all legal remedies will be pursued to the fullest extent of the laws of the Federal Republic of Nigeria.

Actions Taken by NCDMB Towards Addressing Sterling Oil’s Non-Compliance Issues

Business Journal

17/03/2025

The Nigerian Content Development and Monitoring Board (NCDMB) has noted the comments made by the President of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Mr. Festus Osifo, during the union’s recent protest at the headquarters of Sterling Oil Exploration and Energy Production Company (SEEPCO), at Victoria Island, Lagos, over alleged anti-labour practices and expatriate abuses by the company.

NCDMB commends the PENGASSAN leader for acknowledging that qualified Nigerian personnel are occupying top leadership and technical positions in most international and indigenous operating oil and gas companies, and are performing creditably in those roles.

He noted rightly that Nigerians are executing complex functions in the floating production and storage and offloading (FPSO) platforms like Bonga, Agbami, USAN, AKPO, Egina, etc. Indeed, Nigerian oil and gas workers performed almost all operations in the oil and gas industry during the COVID-19 pandemic and kept the industry afloat, after most expatriates returned to their home countries.

These feats were accomplished through NCDMB’s strategic implementation and enforcement of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010, particularly the Expatriate Quota, Succession Plan and Deployment of Expatriates Guidelines and Expatriate Work Temporary Work Permit Guidelines. The successes were also enabled by the several Nigerian Content capacity building interventions that prepared and placed qualified Nigerians in key positions in the oil and gas industry. Through enforcement and compliance oversight, the Board ensured that 609 technical positions were nigerianised for the period 2020-2024

We are delighted that PENGASSAN served as a whistle blower over the alleged expatriate quota abuse by the management of Sterling Oil, and we assure the union and the general public that we would investigate the matter exhaustively and take necessary actions.

We can confirm that NCDMB had sanctioned SEEPCO a few years ago for gross violations of the NOGICD Act. Recently, we have been engaging the company for the same reasons. Our regulatory engagements with the firm are outlined below:

In 2017, the NCDMB identified five expatriates deployed by SEEPCO without obtaining the relevant NCDMB approvals. As a result, NCDMB penalised the company for this non-compliant deployment of expatriates. To remediate this, SEEPCO trained five Nigerians in Marine Engineering and Subsurface Drilling Engineering for nine months.

In 2018, NCDMB identified 402 expatriates deployed by SEEPCO without approval. Additionally, NCDMB discovered projects, contracts, and purchase orders from multiple projects that were awarded and executed without appropriate approvals. NCDMB penalised SEEPCO for these infractions and directed SEEPCO and its affiliates to take the following actions:

Disengage the 402 expatriates and provide evidence of their disengagement and exit to the Board.
Commence and comply with the NCDMB Expatriate Quota application process.
Comply with the Board’s requirements for tendering and awarding projects, contracts, and purchase orders.
Complete the Nigerian Content Development Fund (NCDF) reconciliation exercise and pay outstanding remittances.
Submit up-to-date statutory reports on Nigerian Content and comply with the review process.
Train and employ 40 Nigerians as part of the remediation/penalty.

Regrettably, SEEPCO ignored those directives until the Board commenced legal proceedings against the firm, in line with section 68 of the NOGICD Act.

In 2020, SEEPCO sought an out-of-court settlement and committed to addressing the compliance issues and undertaking the remediation. SEEPCO completed the training of 40 Nigerians in 2022, but the employment commitment was not achieved. Additionally, SEEPCO made only partial NCDF remittances.

SEEPCO has refused to respond and comply with other Nigerian Content requirements.

In 2023, SEEPCO obtained Expatriate Quota approval from the Board for three positions.

From our records SEEPCO has been granted only seven expatiate positions between 2017 to 2023.

The Board has requested for statutory submissions from SEEPCo and scheduled performance review session for March 2025.

Conclusion

NCDMB Expatriate Quota approvals and compliance and enforcement is applicable to only companies with investments or executing projects in the oil and gas industry. Non-oil and gas Expatriate Quota utilization does not come to the Board, but rather directly to the Ministry of Interior.

NCDMB is committed to the effective implementation and enforcement of the NOGICD Act in the oil and gas sector, with a view to creating employment opportunities for Nigerians, deepening Nigerian Content and boosting the economy.

The Board will not fail to sanction firms that flagrantly flout provisions of the NOGICD Act. The Board welcomes collaboration of stakeholders, including oil unions towards achieving the intendments of the NOGICD Act.

NCDMB Launches ‘Champions of Nigerian Content Awards’

Business Journal

17/03/2025

The Nigerian Content Development Monitoring Board (NCDMB), in partnership with Sweetcrude Limited, publishers of SweetcrudeReports, is pleased to announce the launch of the ‘Champions of Nigerian Content Awards’. This prestigious awards ceremony aims to recognise and celebrate individuals and companies that have made significant contributions to the development of Nigerian content in the oil and gas industry.

Awards Ceremony Details

The awards ceremony is scheduled to take place on Wednesday, May 21, 2025, at the NCDMB’s world-class conference hall, situated at Yenagoa, Bayelsa State, beginning at 6 pm prompt. The event will hold on the sidelines of the Nigerian Oil and Gas Opportunity Fair (NOGOF), scheduled for May 20-22, 2025.

Selection Criteria

Unlike other awards in the Nigeria oil and gas industry, the ‘Champions of Nigerian Content Awards’ will be determined by verifiable accomplishments, using defined metrics set by the Monitoring and Evaluation Directorate and other operational directorates and divisions of the NCDMB.

Awards Categories

The awards categories include:

– Nigerian Content Icon of the Year

– Nigerian Content Lifetime Achievement Award

– Nigerian Content International Upstream Operator of the Year

– Nigerian Content Indigenous Upstream Operator of the Year

– Nigerian Content Midstream Operator of the Year

– Nigerian Content Downstream Operator of the Year

– Nigerian Content International Service Company of the Year

– Nigerian Content Indigenous Service Company of the Year

– Nigerian Content Innovator of the Year

– Nigerian Content Financial Services Provider of the Year

– Nigerian Content Media Organization of the Year

. Women in Leadership Award for Promoting Gender Equality and Empowerment

Benefits for Awardees

Awardees will enjoy commensurate benefits, including media exposure and prominent display at the headquarters of the NCDMB, among other benefits to be determined by the Board.

Advisory Board

The Awards are superintended by an advisory board headed by prominent and accomplished industry players, including Dr. Ernest Nwapa, pioneer Executive Secretary, NCDMB, Dr. Omar Farouk, Secretary General of the African Petroleum Producers Organization, Mr. Tony Attah, erstwhile Managing Director of Nigeria LNG Ltd, and Mr. Wole Akinyosoye, former Zonal Operations Controller, Department of Petroleum Resources. The role of the advisory board is to confirm the authenticity of the winners and to give further gravitas to the awards.

Commenting on the ‘Champions of Nigerian Content Awards’, Mr. Felix Omatsola Ogbe, Executive Secretary of the NCDMB said “the time has come to identify and celebrate pillars of Nigerian Content who shall serve as a shining example of what is expected of others in the industry”.

He noted that the Awards are being launched just when oil and gas industry players are gearing up to mark the 15th anniversary of the Nigerian Oil and Gas Industry Content Development Act (NOGICD) Act 2010.

Mr. Abdulmalik Halilu, Director Monitoring and Evaluation at the NCDMB also remarked that the ‘Champions of Nigerian Content Awards’ will motivate and reward Nigerian Content compliance among entities in the oil and gas industry. He said the Board had mulled this event for a few years, and the launch signified NCDMB’s conviction that companies and individuals who extend themselves to develop Nigerian Content and comply with extant regulations should be identified by the regulator and celebrated, to serve as a beacon of motivation for other industry players.

On their part, Sweetcrude Limited has promised that the Awards will feature glitz and glamour, to signify the importance and contributions of Nigerian Content to the national economy.

USPF Scribe Applauds ITU, UK-FCDO’s Partnership on Nigerian Rural Connectivity

Business Journal

17/03/2025

L-R: Representative of the United Kingdom Foreign, Commonwealth & Development Office (UK FCDO), Udoh Indogesit; Nigeria National Consultant, International Telecommunication Union (ITU), Ogundipe Olubunmi; Permanent Secretary, Federal Ministry of Communications, Innovation and Digital Economy (FMoCIDE), Faruk Yabo; Hon. Minister, FMoCIDE, Dr. Bosun Tijani; Executive Vice Chairman/Chief Executive Officer, Nigerian Communications Commission, Dr. Aminu Maida and Secretary, Universal Service Provision Fund, Yomi Arowosafe, during the Industry-focused Stakeholders Engagement Session organised by the USPF of the Commission in collaboration with ITU and UK FCDO in Lagos.

The Secretary of the Universal Service Provision Fund (USPF) of the Nigerian Communications Commission (NCC), Mr. Yomi Arowosafe, has commended the International Telecommunication Union (ITU) and the United Kingdom Foreign, Commonwealth & Development Office (UK FCDO), for their collaboration with Nigerian government to deepen rural connectivity for socio-economic development of the country.

Arowosafe gave the commendation at an Industry-Focused Stakeholders Engagement Session which was organised in Lagos over the weekend by the USPF in in collaboration with the UK FCDO and the ITU. The session built on USPF’s ongoing efforts to facilitate the achievement of wide network connectivity coverage in unserved and underserved communities across Nigeria.

The event was attended by the Hon. Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani; the Permanent Secretary of the Ministry of Communications, Innovations and Digital Economy, Faruk Yabo; the Executive Vice Chairman of Nigerian Communications Commission, Dr. Aminu Maida; Chief Executives of telecommunications companies, State ICT commissioners, notable industry players, trade associations, development partners, key speakers, distinguished guests and staff of both NCC and the USPF.

The Minister spoke on the commitment of President Bola Tinubu to provide enabling policy directions and initiatives towards ensuring greater connectivity in Nigeria to transform the socio-economic development of Nigeria while the NCC boss, Maida emphasised the Commission’s resolve to continue to back all USPF projects through effective regulatory measures that help in accelerating deployment of necessary digital infrastructure that support the achievement of the Federal Governments’ priority areas and ministerial blueprint.

Speaking at the event, Arowosafe said the engagement reflected the USPF’s shared vision and commitment to expanding inclusive connectivity and that the presence of all other stakeholders at the event underscored the vital role of collaboration in achieving the goal.

He said the theme of this workshop, “Fostering Connectivity in Unserved and Underserved Communities: Collaborating for Sustainable Growth” highlighted government’s dedication to bridging the digital divide, in alignment with NCC’s Strategic Focus Areas, the Ministry’s Strategic Blueprint, and Presidential Priority Areas.

“Together, we have the power to create sustainable and inclusive pathways to ensure no community is left behind. Achieving this requires strong partnerships among government, private sector, non-governmental organisations (NGOs), development partners, and community leaders. By sharing insights and resources, we can design tailored solutions that address both immediate and long-term connectivity challenges,” he said.

The USPF Secretary stated that ahead of the session, the USPF gathered input from stakeholders through questionnaires. He said the responses obtained shaped the panel discussions, focused on key strategies to foster connectivity through collaboration and partnerships, strengthen capacity building and security, and explore innovative funding mechanisms for sustainable connectivity.

He said the engagement, thus, offered a platform for robust dialogue and practical solutions that address our unique challenges and help improve telecommunications access in underserved regions, while encouraging participants to actively participate, share their expertise, and contribute to shaping outcomes that will strengthen the nation’s digital ecosystem and improve the lives of all Nigerians.

“This event marks the beginning of a collective journey toward a more connected, inclusive, and prosperous Nigeria. USPF is proud to lead this effort, and we look forward to what we can accomplish together,” he said.

NAICOM Commends Passage of Insurance Reform Bill

Business Journal

14/03/2025

The National Insurance Commission (NAICOM) welcomes the passage of the Insurance Reform Bill by the Federal House of Representatives.

This follows the passage of the Bill by Upper Chamber earlier in December 2024. This is a milestone achievement that marks yet another significant step towards transforming the insurance industry in Nigeria.

The Commission is enthusiastic about the prospects of the bill receiving assent from Mr. President, which will pave the way for the implementation of its provisions.

As the apex regulator of the insurance industry, NAICOM is committed to ensuring that the sector contributes positively to Nigeria’s financial landscape. We believe that by the time the Insurance Reform Bill is signed into Law, it will have a profound impact on the industry, leading to improved penetration, increased public confidence, and enhanced competitiveness.

We salute the leadership of the National Assembly for their efforts in passing the bill and look forward to its assent by Mr. President. We are confident that the Reform Bill will usher in a new era of growth and development for the insurance industry in Nigeria.

University of Retirement: Meet Members of Faculty for 2025 Inspenonline Retirement Summit

Business Journal

14/03/2025

Former Commissioner for Insurance/Director FBS Reinsurance Limited, Fola Daniel, Chairman of the event. Commissioner for Insurance Segun Omosehin and Director General National Pension Commission (PenCom) Ms. Omolola Olowolaran, Distinguished Guests of Honour.

Special Guests; President Chartered Insurance Institute of Nigeria Mrs. Yetunde Ilori; Chairman, Nigerian Insurers Association; Mr. Kunle Ahmed; Chief Executive Officer, Pension Fund Operators Association of Nigeria, Agudah Oguche and President Nigerian Council of Registered Insurance Brokers Prince Babatunde Oguntade.

Father of the Day, Chairman STI Leasing Limited Tom Ogboi.

Mother of the Day, Managing Consultant Motodols Consults Mrs. Folashade Onanuga

The Keynote Speaker, is the Founder Mutual Specialists, Adetola Adegbayi

Paper Discussants are: Managing Director Rex Insurance Limited Mrs. Ebelechukwu Nwachukwu; Managing Director Lasaco Assurance Plc, Mr. Razzaq Abiodun; Managing Director Stanbic IBTC Insurance Limited, Akinjide Orimolade; Executive Secretary Certified Pension Institute of Nigeria Dr. Samson Akinyemi; Executive Director, Sales & Investment, Leadway Pensure , Oluwafemi Adebayo; National Chairman, Forum of Pension Desk Officers of Federal Government Treasury-Funded MDAs, Nze Peter Nze; Director General Ondo State Pension Commission Babatunde Owate; Managing Director Cornerstone Insurance Plc, Stephen Alangbo; Chairperson Nigeria Labour Congress, Lagos State Chapter Comrade Funmi Sessi; Director General Nigeria Employers Consultative Association Adewale Oyerinde and National President Association of Registered Insurance Agents of Nigeria, Olatubosun Mayowa.

Fidelity Splashes Millions of Naira on Youth Corps Members with GAIM 6

Business Journal

14/03/2025

L – R: Branch Leader, Fidelity Bank Plc, Nanka Close, Wuse, Abuja, Vincent Ijioma; GAIM 6 NYSC Empowerment Grant winner, Bomane-Aziba Koromo; and Zonal Inspector, NYSC Zone 3, Abuja, Adama Usman, at the Fidelity Bank GAIM 6 NYSC Empowerment Grant prize presentation ceremony for Q1 in Abuja recently.

Fidelity Bank Plc has reaffirmed its commitment to financial inclusion, youth empowerment, and promoting a healthy savings culture by rewarding nine National Youth Service Corps (NYSC) members with N500,000 business grants each.

The grants were awarded under the Get Alert in Millions Season Six (GAIM 6) promo, an initiative designed to reward loyal customers with cash prizes totaling N159 million. The promo, which runs from November 2024 to August 2025, targets various categories of customers, including NYSC members, students, and general customers.

Mr. Osita Ede, Divisional Head of Product Development at Fidelity Bank Plc, stated that this season of the GAIM promo aims to enhance the opportunities for loyal customers to win.

“When we launched the GAIM 6 promotion in November 2024, we unequivocally stated that this campaign season is intended to promote inclusivity. Consequently, we have increased the total prize money to N159 million and added additional draws, beyond the weekly and monthly draws featured in previous seasons.

“Now, we have specific draws catering to various segments of our customer base including women, students, youth corps members, and traders. It is important to note that these categories of customers also stand the chance to win millions of naira in the monthly and grand draws which we will be hosting till 20 August 2025,” explained Ede.

Nine NYSC customers were selected through a random electronic draw in the first quarter of the GAIM 6 campaign, from various branches nationwide.

They are: Oluwatosin Emmanuel Olowolayemo and Ekpeno Aniekan George, both from Uyo 2 Branch; Derryk Chidubem Okafor from Trans-Ekulu Branch; Aliyu Idris Adamu from Tudun-Wada Kaduna Branch; Bomane-Aziba Koromo from Nanka Close, Wuse Branch; Asabe Grace Adamu from University of Maiduguri Branch; David Agbai Agwu from Oshogbo Branch; Abdullahi Opeyemi Olajuwon from Airport Road, Lagos Branch; and Eghosa George Orhue from Ado Ekiti Branch.

Expressing his gratitude and excitement, one of the recipients of the entrepreneurship grant, Chidubem Okafor, appreciated Fidelity Bank for the grant, noting that the funds will enable him to achieve his entrepreneurial dreams.

His words: “At first, I thought it was a scam when they introduced the initiative at our orientation camp, but today, I am truly honored to receive this support from Fidelity Bank. This grant will go a long way in helping me achieve my entrepreneurial dreams, and I promise to make the most of it,”

Similarly, David Agwu, who also emerged a winner in the draw, expressed his surprise at the unexpected win, saying, “when I received the call, I thought it was a prank. I never applied for anything, so it was hard to believe. But when they sent me proof, I realized it was real. I am truly grateful for this opportunity. My plan is to invest the money in vocational training and digital skills development, particularly in fashion and painting in order to establish a sustainable business”.

Beyond the N500,000 entrepreneurship grant, the winners will also enjoy free business advisory and training sessions at the newly launched Fidelity SME Hub, located at 22, Lanre Awolokun Street, Gbagada Phase 2, Lagos.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 8.5 million customers through digital banking channels, its 251 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the Export Finance Bank of the Year at the 2023 BusinessDay Awards; the Banks and Other Financial Institutions (BAFI) Awards; Best Payment Solution Provider Nigeria 2023; and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards. It was also recognised as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023 and the Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

#EmpowerHERwithShopProtect: emPLE Launches IWD Campaign to Support Nigerian Women Traders

Business Journal

14/03/2025

In line with International Women’s Day 2025 and its theme #AccelerateAction, emPLE, a leading force in Nigeria’s financial services sector, launched the “Empower HER” campaign. This initiative aims to provide financial security for women-owned businesses and enterprises, which is vital to sustaining the country’s local markets.

As part of the campaign, emPLE is offering free 1-year ShopProtect insurance to female entrepreneurs, ensuring their businesses remain protected against unforeseen risks. ShopProtect is designed for business owners with shops, offering accessible and affordable coverage that guarantees stability in times of uncertainty.

With risks like fire and theft posing constant threats, ShopProtect provides a vital safety net, allowing these women to focus on growth confidently.

Speaking on the initiative, Labisi Adesokan, Chief Marketing Officer, emPLE, emphasised the company’s commitment to empowering women in business:

“Female entrepreneurs are the backbone of our economy, yet many operate without a safety net. Through the ‘Empower HER’ campaign, we are taking real action to support them because protecting their businesses means protecting their future. ShopProtect is more than insurance; it’s a promise of stability and confidence in the face of uncertainty.”

The “Empower HER” campaign underscores emPLE’s commitment to financial inclusion and security, reinforcing its role in supporting small businesses and driving long-term economic resilience.

About emPLE

emPLE is a leading financial services company dedicated to providing insurance and investment solutions to retail and corporate clients across Africa.

At emPLE, our purpose is to empower Africans by providing innovative financial solutions that enhance their freedom, security, and prosperity.

We believe that true empowerment comes from providing not just access to financial products but also the knowledge and tools necessary for our customers to make informed decisions and achieve financial independence.

Stanbic IBTC Pension Managers revitalises Government Day Secondary School in Akampka, Cross River State

Business Journal

12/03/2025

Stanbic IBTC Pension Managers, a Pension Fund Administrator in Nigeria, is pleased to announce the successful completion of its renovation initiative at the Government Day Secondary School in Akampka – a crucial step in addressing the numerous challenges faced by this educational institution. The school, which serves 850 students and 40 staff members from six local communities, has undergone substantial improvements to foster a conducive learning environment.

The extensive renovation addressed critical infrastructure issues, including the refurbishment of three classroom blocks; the provision of new classroom furniture; and the upgrading of toilet facilities to ensure an effective sewage system. A reliable water supply system has also been provided, significantly enhancing the overall educational experience for both students and staff.

“This project represents a significant investment in the educational landscape of Akampka,” stated Olumide Oyetan, the Chief Executive of Stanbic IBTC Pension Managers. “Investing in the education and well-being of our youth is not merely an obligation; it is a powerful opportunity to cultivate hope and bring about meaningful changes within our communities. By revitalising institutions like Government Day Secondary School, we are tackling immediate challenges while laying the groundwork for a brighter future.”

The condition of the school’s classrooms and facilities necessitated the urgent intervention from Stanbic IBTC Pension Managers, who stepped in to ensure that educational progress of the children in the community is no longer hindered. In addition to restoring essential infrastructure, the renovation project taken on by the organisation also provides long-term value to the surrounding communities, inspiring them to invest in educational development.

Stanbic IBTC Pension Managers remains dedicated to serving and supporting the communities where they operate through various corporate social investment initiatives.

The revitalised Government Day Secondary School now stands as a symbol of hope and progress; poised to empower students and equip them with the necessary tools for future success. As the project comes to fruition, Stanbic IBTC Pension Managers invites the public to join in this journey of restoration and collective impact, fostering community development and empowerment.

Jumia Nigeria Empowers Women through ‘Accelerate Action’ Seminar in Celebration of IWD 2025

Business Journal

12/03/2025

Jumia Nigeria reaffirmed its commitment to gender inclusion and empowerment by hosting an insightful seminar on Friday, March 7, 2025 in celebration of International Women’s Day.

The event, themed “Accelerate Action”, in alignment with the 2025 global theme, took place at Pier Place Amphitheatre, Yaba, Lagos, with over 200 participants joining online.

The seminar provided a platform to celebrate the achievements of women within Jumia while fostering discussions on strategies to accelerate women’s success across various sectors.

Speaking on the initiative, Risper Obure, Head of Human Resources, stated, “At Jumia, we believe that empowering women is key to building a more inclusive and innovative workplace. Through this seminar, we are reinforcing our commitment to promoting a culture where women are equipped with the resources and support they need to thrive.” Shola Ositelu, Head of Commercial Operations and Revenue Management, added, “Empowering women is not just about providing opportunities but also about creating an environment where they can thrive and lead. Events like this help drive that agenda forward.”

The event, hosted by Amarachi Ikwuegwu, featured a compelling panel discussion with key female leaders within Jumia. Chinenye Odu, Legal Counsel, stressed the importance of aligning personal initiatives with business goals, securing approvals, and following through on projects.

Funmilola Adebayo, Facilities Manager, highlighted the need for sustainable commitment to change, setting SMART goals, and fostering continuous progress.

Shola Ositelu shared how resilience, time management, confidence, and mentorship shaped her leadership journey. Sheila Wagio, Head of Advertising, advised women to view setbacks as opportunities for growth and to focus on long-term success despite challenges.

Further reinforcing the theme of collective progress, Shola Ositelu underscored the role of teamwork, open communication, and feedback in driving change.

The seminar concluded with a call to action for women to challenge societal norms and advocate for themselves in breaking barriers to success.

Through this initiative, Jumia Nigeria continues to drive meaningful conversations around gender equality, fostering a workplace that encourages the professional and personal advancement of women.

Stanbic IBTC Bank Reintroduces Private Banking Offerings to Empower Nigerians

Business Journal

12/03/2025

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings and a leading financial service solutions provider in Nigeria, has reaffirmed its commitment to helping Nigerians secure their financial futures and build lasting legacies through its Private Banking offerings.

With a focus on personalised financial solutions, portfolio management, investment strategies, and estate management, Stanbic IBTC Bank empowers individuals and families to achieve their long-term goals of building lasting legacies for future generations.

In a world where financial security and intergenerational wealth transfer is becoming increasingly critical, Stanbic IBTC Bank’s comprehensive suite of Private Banking solutions provides clients with the tools and expertise needed to navigate the complex financial landscapes.

Stanbic IBTC Bank leverages its deep market knowledge and global expertise to deliver solutions that align with clients’ unique aspirations.

Wole Adeniyi, Chief Executive of Stanbic IBTC Bank, emphasised the importance of proactive wealth management in today’s dynamic economic environment. “At Stanbic IBTC Bank, we understand that building a legacy goes beyond accumulating wealth; it is about creating a sustainable financial foundation that benefits future generations. Our innovative solutions are designed to help families protect, grow, and transfer their wealth seamlessly, ensuring their values and aspirations endure over time.”

Stanbic IBTC Bank’s Private Banking offerings include personalised financial planning to help clients achieve their short and long-term financial goals, Investment management to enable clients access a wide range of investment opportunities, (including equities, fixed income, and alternative assets), Estate and trust services through expert guidance on Estate planning, Wills, and Trusts to ensure smooth Wealth transfer, Retirement planning through solutions that help clients build a secure and comfortable retirement, Insurance and risk management through comprehensive protection against unforeseen events that could impact financial stability.

By equipping families and individuals with the knowledge and tools to manage their wealth effectively, the bank is fostering a legacy of financial resilience and prosperity.

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