For his exceptional leadership and contributions to banking and finance, the Board Chairman of Fidelity Bank Plc, Mr. Mustafa Chike-Obi, has been presented the Lifetime Achievement Award at the ThisDay Awards.

At a well-attended event featuring leaders across Nigeria’s public and private sectors, the erudite banking professional joined a host of awardees who were recognized for their leadership across various sectors of the economy.

Lauding the event organisers for the recognition, Chike-Obi said: “This is one of the proudest moments of my life. I thank the ThisDay team, led by the ebullient Prince Nduka Obaigbena, for this award and I wish them every success as they celebrate three decades of impactful reporting.”

Also honoured in the Lifetime Achievers category of the ThisDay Awards were Atedo Peterside, founder of Stanbic IBTC Bank; Mohammed Hayatu-Deen, founder of Alpine Group; and Maiden Ibru, Chair and Publisher of the Guardian Newspaper.

Themed, “When the Going Gets Tough… The Tough Get Rewarded”, the prestigious award ceremony was held at Eko Hotels & Suites, Victoria Island, Lagos, to commemorate the 30th anniversary of Thisday Newspapers and the 12th anniversary of Arise News Channel.

Leading financial institution, Fidelity Bank Plc, has announced its selection as one of the partner banks for the Nigeria Youth Economics Engagement and De-Radicalization Programme (NIYEEDEP).”

NIYEEDEP (Nigerian Youth Economic Engagement and De-Radicalisation Programme), is an initiative of the Federal Ministry of Youth Development, in collaboration with the Nigerian Senate, through its committee on Sports Development. The primary aim of the initiative is to empower Nigerian Youths for economic growth and Development, nation-building, poverty alleviation and security.

Situating the NIYEEDEP partnership within the Bank’s strategy, Osita Ede, Divisional Head, Product Development, Fidelity Bank Plc explained, “We are delighted to partner with the Federal Government on this noble cause especially as it aligns with brand ethos of helping individuals to grow, inspiring businesses to thrive, and empowering economies to prosper. We believe that Nigeria’s youthful population is a blessing and initiatives like this will go a long way in unlocking the value in our teeming young population”.

Open to Nigerians between the ages of 18 and 35 years, NIYEEDEP is designed to create 6 million jobs focused on key sectors like agriculture, technology, and renewable energy.

Interested participants are required to visit https://bit.ly/Fidelity-NIYEEDEP to open a Fidelity Bank account to be able to access the programme.

“There are limited spaces for participants in the initiative, so I enjoin everyone to hurry to our website or the nearest Fidelity Bank branch to get started. Do remember to provide correct details so that we can provide necessary updates as the programme kicks off”, said Ede.

Ranked among the best banks in Nigeria, Fidelity Bank is a full-fledged customer commercial bank serving over 8.5 million customers through its 255 business offices in Nigeria and the United Kingdom, as well as through digital banking channels.

The bank has garnered multiple local and international awards, including the Export Finance Bank of the Year at the 2023 BusinessDay 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 recognized 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.

The MD/CE, Nigeria Deposit Insurance Corporation (NDIC), Bello Hassan presents the NDIC research publications to the Chief Judge of the FCT High Court, Honourable Justice Husseini Baba-Yusuf along with Honourable Justice S. C. Orji and Honourable Justice M. F. Anenih during the NDIC Management’s visit to the FCT High Court, Abuja.

With the transformative role of technology in education more critical now than ever, this year’s theme for the International Day of Education, “AI and Education: Preserving Human Agency in a World of Automation,” highlights the need for inclusive and technology-driven education systems.

According to UNICEF, Nigeria’s education system continues to face significant challenges, with the number of out-of-school children rising to 18.3 million. This alarming figure underscores the urgent need for targeted interventions to bridge systemic gaps and improve access to quality education.

Education is a thematic focus area for Sterling One Foundation, which in 2024 reached over 20,000 individuals directly and indirectly through impactful programs designed to address these challenges. Through its initiatives, the Foundation has empowered educators and students with STEM-focused tools that integrate innovative teaching methodologies, ensuring inclusive and equitable learning opportunities.

The Early Child Learning Advancement Project (E-CLAP) significantly improved foundational literacy and numeracy skills for over 2,000 children in underserved communities. Implemented across Kano, Lagos, Borno, and Oyo states, the program combines modern teaching tools with active community involvement to enhance learning outcomes.

Within six months, E-CLAP achieved measurable improvements by equipping teachers with culturally relevant and interactive teaching techniques that keep students engaged and motivated.

In the Northeast of Nigeria, where secondary and tertiary school representation has historically been low, Sterling One Foundation partnered with the Northeast Development Commission (NEDC) to implement the Accelerated Senior Secondary Education Programme (ASSEP).

This initiative addressed systemic educational challenges in the region by focusing on Science, Technology, Engineering, Mathematics, and Agriculture (STEMA). ASSEP trained over 720 teachers through online and in-person modules, providing over 15,000 students with STEM-focused resources, virtual reality-enabled learning tools, and tailored exam preparatory materials designed to improve WAEC, NECO, and JAMB exam outcomes.

In alignment with this year’s theme, the Foundation’s collaboration with CDIAL AI further expanded its impact through the Indigenous Multilingual Digital Literacy & Artificial Intelligence Hub, launched in Ajegunle, Lagos. This initiative empowered 174 learners with essential digital literacy skills, leveraging AI-powered tools in 13 native African languages. The project bridged education gaps and promoted inclusion in underserved communities by enabling learning in mother tongues.

Commenting on the importance of this year’s education theme, Olapeju Ibekwe, CEO of Sterling One Foundation, stated:

“The theme, ‘AI and Education: Preserving Human Agency in a World of Automation,’ underscores the urgent need to integrate technology responsibly while ensuring education remains inclusive and human-centred. At Sterling One Foundation, we recognise that achieving the Sustainable Development Goals, particularly SDG 4, requires accelerating efforts to bridge systemic gaps. By empowering educators and students with innovative tools and collaboration, we are building a future where quality education drives sustainable development and leaves no one behind.”

Sterling One Foundation’s impact is rooted in partnerships that enable scalable and sustainable solutions. Education remains fundamental to development, and to accelerate progress toward the Sustainable Development Goals, Nigeria and Africa must prioritise inclusive policies, embrace innovative approaches, and commit to collaborative efforts that address systemic challenges while ensuring equitable access to quality education for all.

Union Bank of Nigeria has kicked off its Save and Win Palli Promo 4campaign on a high note following the announcement of its first set of winners in its inaugural monthly draws.

The first live draw of this season, which took place at the Bank’s Head Office in Marina, Lagos, rewarded 60 customers with ₦100,000 each.

Additionally, 300 other winners went home with ₦50,000 worth of gift vouchers during the inaugural live draw, which was conducted transparently and digitally under the supervision of relevant regulatory bodies. The winners cut across the nation.

Speaking at the first monthly draw, Gloria Omereonye, Union Bank’s Area Business Executive for Lagos Island 1, stated:

“Union Bank is always dedicated to rewarding customers for their loyalty and financial discipline. We are pleased that our promo has continued to achieve its noble goals of providing succour to our customers through our gifts and rewards, especially in these economically trying times, while facilitating a sustainable savings culture for future goals and objectives.”

Save & Win Palli Promo is a nationwide campaign designed to reward both new and existing customers with cash prizes. Season 4, which began in December 2024 and runs until May 2025, offers customers the opportunity to win ₦131 million in cash prizes, Motorcycles, Tricycles, Fuel Vouchers, and a star prize of ₦5 million, which will be handed out to three lucky winners at the grand finale.

Open to new and existing customers, the Save and Win Palli Promo requires participants to save a minimum of ₦10,000 and perform a minimum of five transactions monthly to qualify for draws. Monthly winners can receive ₦100,000, while quarterly draws will reward lucky savers with Motorcycles, Tricycles, and other exciting prizes. Customers who save in multiples of ₦10,000 will increase their chances of winning.

New customers can join the promo by downloading the UnionMobile app to open an account or visiting any Union Bank branch.

The MD/CE Nigeria Deposit Insurance Corporation (NDIC), Mr. Bello Hassan and the 60^th President of the Institute of Chartered Accountants of Nigeria (ICAN), Chief Davidson Chizuoke S. Alaribe during the ICAN Governing Council members’ visit to the NDIC Management in Abuja.

The President of the Institute of Chartered Accountants of Nigeria (ICAN), Chief Davidson Chizuoke S. Alaribe, has commended the Nigeria Deposit Insurance Corporation (NDIC) for its continuous compliance to the highest standards of integrity and transparency which is critical to the success of its operations in safeguarding depositors’ funds and ensuring the stability of the financial system.

This formed part of the ICAN President’s remarks during a courtesy visit of the ICAN Governing Council to the NDIC Management in Abuja.

Chief Alaribe said, the NDIC has been recognised as a formidable organisation due to its commitment to compliance with standards of corporate governance, zero-tolerance for corruption and effective internal controls.

He added that the Corporation’s commitment has been recognised by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which awarded NDIC the top position in its 2023 Ethics and Integrity Compliance Scorecard (EICS).

While underscoring the relationship between his Institute and NDIC, Chief Alaribe disclosed that ICAN has also established the ICAN Accountability Index to promote integrity in key sectors of the economy, focusing on budget, credibility, asset and debt management.

In his remarks, the Managing Director and Chief Executive Officer of NDIC, Mr. Bello Hassan congratulated Chief Alaribe on his appointment as the 60^th President of ICAN. Hassan, himself a Fellow of the Institute, described ICAN as a strategic stakeholder of the Corporation.

He therefore reiterated the need for the Institute to ensure its members uphold the highest values of integrity and professionalism in the discharge of their duties as auditors, as NDIC and the Central Bank of Nigeria (CBN) continue to rely on their work as external auditors in their risk-based supervision of banks.

Reflecting on his earlier call for stronger collaboration with ICAN, the NDIC Boss stressed the need for the introduction of Deposit Insurance module in the curriculum of ICAN examinations.

He emphasised that this initiative is essential to enhance understanding of the Deposit Insurance Scheme among ICAN members, who represent a significant portion of potential bankers and bank examiners.

Hassan restated the Management’s commitment towards strengthening the partnership between ICAN and the Corporation in contributing to the stability of the banking sector and the nation’s financial system as a whole.

Sterling Bank Limited, has petitioned the Inspector General of Police (IGP) to address alleged fraudulent activities linked to Miden Systems Limited and its director, Dr. Brendan Innocent Usoro. The action followed a series of purported attempts by Usoro to leverage political connections and law enforcement to undermine a court-mandated debt settlement.

The Federal High Court delivered a ruling on October 18, 2021, clearly establishing Miden Systems Ltd’s liability for outstanding debts and outlining the terms for repayment.

Despite this unequivocal judgment, Maurice Igugu, Sterling Bank’s Chief Marketing Officer, stated that Miden Systems and Dr. Usoro have engaged in a systematic campaign to evade compliance. The campaign allegedly involves misappropriation of loan funds, manipulation of corporate structures to protect assets and intimidation tactics aimed at bank officials.

The bank expressed serious concerns regarding the misuse of the Police Force CID and the National Assembly by individuals attempting to escape their legal obligations. Allegations suggest that Dr. Usoro has exploited his political connections to obstruct justice, with claims that individuals allegedly acting on his behalf, along with the Nigerian Police, have resorted to intimidation and personal harassment of Sterling Bank’s executives.

In a statement, Igugu condemned these actions as an affront to judicial authority and reaffirmed the bank’s resolve to hold the debtors accountable. He noted that the debtor’s actions have inflicted financial harm on the bank and its stakeholders.

According to the statement, “On October 18, 2021, the Federal High Court issued a decisive ruling that established the debtor’s liability and mandated adherence to agreed settlement terms. Despite the unambiguous nature of this judgment and the debtor’s acknowledgment of substantial outstanding debt, Miden Systems Limited and Dr. Usoro have engaged in a calculated campaign of non-compliance.”

Consequently, the Bank has sought the intervention of the IGP to address these issues and ensure justice prevails.

On December 10, 2024, through its legal counsel Kunle Ogunba, SAN, Sterling Bank submitted a detailed petition to the IGP. The document outlines serious allegations against Dr. Usoro and Miden Systems Limited, including the diversion of loan funds for personal use, defaults on loan obligations, asset misappropriation and illegal restructuring of the company’s shareholding.

The petition further highlighted efforts to obstruct justice through legal maneuvers and intimidation tactics against the Bank. The Bank’s petition to the IGP also underscored recent incidents of intimidation directed at its executives, allegedly orchestrated by parties acting on behalf of Dr. Usoro.

Urging stakeholders, customers and the public to disregard unsubstantiated accusations and recognise the facts, the Bank noted that the actions of Miden Systems Ltd and Dr. Usoro is a deliberate attempt to distract from their refusal to fulfill their financial obligations.

The statement added that deductions from Miden Systems’ account, which have been called into question, were carried out under an agreement enshrined in a consent judgment issued by the Federal High Court in Lagos.

“This judgment, signed by representatives of both parties, confirmed the debtor’s commitment to liquidate the debt, including principal and accrued interest, as of June 10, 2021.

“This follows some skewed narratives about a session on the issue with the House of Representatives Committee on Public Petitions on a petition from Maiden Systems Ltd, which accused the Central Bank of Nigeria (CBN), Sterling Bank, and Shell Petroleum of mismanagement and fraudulent debits linked to its account,” the bank stated.

In a recent development, on November 20, 2024, the Federal High Court dismissed an application by Miden Systems Limited and Dr. Usoro seeking to overturn the earlier judgment. The court’s dismissal cited abuse of process, reinforcing the validity of the original ruling and the binding nature of the settlement terms.

Sterling Bank urged stakeholders and the public to disregard unfounded accusations from Miden Systems Limited, framing them as distractions from their financial responsibilities.

The bank maintains that deductions from Miden Systems’ accounts were executed under a legally binding consent judgment.

While reaffirming its dedication to upholding the principles of justice, integrity, and accountability in the face of these small distractions, Sterling assured that it remains a trusted cornerstone of Nigeria’s financial sector, celebrated for its innovative solutions and unwavering commitment to sustainable development through its focus on the HEART sectors (Health, Education, Agriculture, Renewable Energy, and Transportation).