Category: Business

Emmanuel Clement.

Polaris Bank has partnered with the Nigeria Conservation Foundation (NCF) to launch a tree-planting initiative in Rivers State.

The exercise, held at Bodo City Girls Secondary School in Gokana Local Government Area, is part of efforts to combat carbon emissions and promote sustainable environmental practices.

Speaking at the event, Polaris Bank’s Divisional Head for South-South, Mr. Raphael Abiaziem, represented by Mr. EjikeAroh, Business Development Manager of Garrison Branch,underscored the project’s importance in advancing the Bank’s sustainability agenda.

He said the initiative aligns with the United Nations Decade on Ecosystem Restoration and reinforces the Bank’s commitment to environmental, social, and governance (ESG) priorities.

“This project is not just about planting trees; it is about safeguarding our environment, reducing carbon footprint, and raising awareness on climate action,” Abaziem stated.

“By planting fruit-bearing and economic trees, we are helping communities build resilience, improve food security, and restore degraded ecosystems.”

The Divisional Head emphasized that climate change presents one of the greatest global challenges and requires an urgent and collective response.

He noted that financial institutions like Polaris Bank must take leadership in driving initiatives that contribute to a more sustainable future.

The Nigeria Conservation Foundation commended the Bank’s leadership of Polaris Bank and noted that the selected trees would serve multiple benefits, including preventing soil erosion, providing shade, acting as windbreakers, and yielding edible produce for schools and host communities.

NCF Field Officer, Mr. Alex Jorbedom, highlighted the significance of planting fruit-bearing trees, noting that they will provide shade, serve as windbreakers, and produce edible fruits for both students and the host community.

“We are targeting 500 trees in this school, including avocado and native pear. Each tree has been planted with protective mesh, and we will return to create further awareness so the students appreciate their value and care for them properly,” Jorbedom said.

Polaris Bank’s broader sustainability roadmap, integrates climate action and community development into its long-term growth strategy.

Through collaborations such as this, the Bank continues to strengthen its role as a catalyst for positive environmental and social impact.

 

Emmanuel Clement 

As part of its ongoing commitment to expanding Nigeria’s footprint in global trade, leading financial institution Fidelity Bank Plc has announced it will host a high-level panel session at the upcoming Fidelity Nigeria International Trade and Creative Connect (FNITCC) in Atlanta, Georgia, USA.

Themed “Financing For Scale – Unlocking Capital For Global Export Competitiveness,” the session will take place on Friday, 19 September 2025, and will feature top executives and thought leaders from across Nigeria’s financial and entrepreneurial landscape including: Mustafa Chike-Obi, Chairman, Board of Directors – Fidelity Bank Plc and a veteran investment banker; Olasunkanmi Owoyemi, Group MD/CEO – Sunbeth Global Concept Nigeria Limited, a leading voice in agribusiness exports; Efe Ukala, Founder – ImpactHer and a champion for women-led enterprises who has empowered thousands of African female entrepreneurs through access to capital and global market linkages; and Abba Bello, Managing Director – Nigeria Export-Import Bank (NEXIM), Nigeria’s foremost export credit agency, providing critical financing and risk mitigation tools for exporters.

“Unlocking the right kind of funding is like planting seeds for growth—without access to finance, even the most outstanding businesses and creative brands will struggle to scale, compete, and sustain themselves in global markets,” said Isaiah Ndukwe, Divisional Head, Agric. and Exports, Fidelity Bank Plc, in a media chat.

FNITCC serves as a bridge to close this gap. The inaugural edition in London in 2022 hosted over 100 Nigerian exhibitors and 90+ speakers, attracting more than 1,000 daily visitors and culminating in deals worth approximately US$200 million.

The 2023 edition in Houston raised the bar with over 160 participating businesses and closed deals including a US$40 million pre-export finance agreement for cocoa, in partnership with AFREXIM Bank and local exporter JohnVents Industries.

The panel will address the urgent need for accessible and scalable financing solutions to boost Nigeria’s global trade competitiveness; and will explore topics such as: Financing models for SMEs and exporters, Role of DFIs and commercial banks, De-risking strategies for export ventures; and Diaspora investment opportunities.

“These events underscore that targeted market access, paired with financing support, can launch Nigerian brands onto the global stage—delivering jobs, income, and international recognition,” Ndukwe added.

Hosted in partnership with AFRICON—the premier gathering for global African changemakers, tastemakers, and innovators—FNITCC Atlanta will take place from 18 to 20 September 2025 at the Omni Atlanta Hotel, Centennial Park, Georgia, USA.

The event is projected to attract over 3,000 participants and facilitate more than US$400 million in trade, investment, and partnership deals.

Interested businesses and participants are encouraged to register for the conference at www.fidelitybank.ng/fnitcc.

Fidelity Bank Plc is a full-fledged commercial bank with over 9.1 million customers who are serviced across its 251 business offices and various digital banking channels in Nigeria and the United Kingdom.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

Emmanuel lkpeama

Leading financial institution, Fidelity Bank Plc, has reaffirmed its dedication to financial empowerment and a savings-oriented culture with the emergence of twenty new millionaires in the seventh and eighth monthly draws of its Get Alert in Millions (GAIM) Season 6 Savings Promo.

The draw event, held at the bank’s headquarters in Lagos, featured the announcement of the lucky winners and the formal Prize Presentation Ceremony for winners in the fourth, fifth, and sixth monthly draws.

Speaking at the event, Dr. Ken Opara, Promo Chairperson and Executive Director, Lagos & South West, Fidelity Bank Plc, represented by Chioma Nwankwo, Regional Bank Head, Lagos Central, Fidelity Bank Plc, emphasized the bank’s mission to drive financial well-being through responsible saving habits.

“At Fidelity Bank, we believe that financial well-being begins with cultivating smart saving habits. This belief inspired the GAIM 6 promo — a strategic initiative aimed at encouraging and rewarding a culture of consistent savings among our customers,” she stated.

Further highlighting the impact of the GAIM 6 promo, she noted that, “For us, it is not just about winning but helping our customers to build a secure financial future. To ensure this, these winners also receive financial advisory to help them grow and manage their wealth effectively.”

At the event, 10 winners each from the seventh and eighth draws emerged from various geo-political zones across Nigeria, demonstrating the widespread reach and impact of the campaign. The draws were conducted electronically and supervised by representatives from the Federal Competition and Consumer Protection Commission (FCCPC) and other relevant regulatory bodies to ensure transparency and fairness.

The event also featured the formal presentation of prizes to winners from the Fourth, Fifth, and Sixth Monthly Draws. Among the beneficiaries who received their ₦1 million prizes at the ceremony were Stephanie Onome Gere, Itua Michael Ehinomen, Maduabuchi Kalu Anya, and Chioma Grace Nnodim.

One of the beneficiaries, Chioma Grace Nnodim, expressed her appreciation to Fidelity Bank saying; “This is a life-changing moment for me. I had heard of others winning, but I never imagined I would become a millionaire just by saving consistently. I encourage all Nigerians to open a Fidelity Bank account and start saving – you never know when your alert will come.”

Now in its final month and ahead of the grand finale, GAIM 6 has disbursed about N85.4 million to 2,561 customers through various draws, including ₦60 million to 60 monthly winners, ₦7million to 700 student Flex account holders, and ₦4.5 million to nine NYSC members. Special day rewards included ₦1 million each on Women’s Day and Workers’ Day, ₦10 million on Children’s Day, and ₦7.7 million shared among 1,550 weekly consolation winners.

Through GAIM 6, Fidelity Bank continues to promote financial empowerment, reward loyalty, and foster a savings culture among Nigerians, staying true to its mission to help individuals grow, inspire businesses to thrive, and empower economies to prosper.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

The Institute of Chartered Accountants of Nigeria (ICAN), Fidelity Bank Chapter, has inaugurated Mr. Audifax Onuoha as its new Chairman, at the Chapter’s 4th Investiture and Patron Conferment Ceremony, held at Fidelity Bank’s Head Office, Fidelity Place, Lagos.

The investiture also witnessed the formal inauguration of the 2025–2027 Executive Committee.

The new Chairman, Mr. Onuoha, who currently serves as Group Head, Compliance Risk Management at Fidelity Bank Plc, succeeds Mr. Victor Abejegah, the bank’s Chief Financial Officer.

In his acceptance speech, Onuoha expressed a firm commitment to strengthening the technical capacity of ICAN members and non-members across the bank.

“Our administration will focus on continuous learning and skill development to equip our members with the cutting-edge knowledge needed to thrive in today’s fast-evolving financial services landscape,” Onuoha stated.

A Chartered Accountant, data science expert, and anti-money laundering specialist, Onuoha also pledged to build on the achievements of previous leadership while reinforcing the strategic alliance between ICAN and Fidelity Bank.

“We will deepen the synergy between Fidelity Bank and ICAN as a foundation for a resilient financial ecosystem. We also aim to grow the Chapter’s membership by attracting more Chartered Accountants, thereby enriching the intellectual capital of the bank,” Onuoha added.

Delivering the opening address, Chairman of the Occasion and the Regional Bank Head -Ikeja, Fidelity Bank Plc, Mr. Jude Monye, urged the new leadership to make professional development a top priority.

“Capacity building is no longer optional—it is imperative. Let your tenure be marked by programmes that empower members to lead with insight, resilience, and relevance,” Monye advised.

Monye lauded the Chapter’s growth and impact over the years, attributing much of its success to the unwavering support of Fidelity Bank’s leadership, particularly its Managing Director/CEO, Dr. Nneka Onyeali-Ikpe.

“The Chapter’s evolution into a vibrant hub of professional development reflects the bank’s deep appreciation of the value of professional competence in a dynamic financial sector,” Monye noted.

The immediate past Chairman, Mr. Victor Abejegah, highlighted several achievements recorded during his tenure, including entrepreneurship training in fish farming, snail farming, poultry, and export processing, as well as significant strides in member welfare and insurance claim support for bereaved families.

A major highlight of the event was the conferment of the Chapter’s new Patron award on the Executive Director/Chief Operations and Information Officer, Fidelity Bank Plc, Mr. Stanley Amuchie, in recognition of his over 25 years of exemplary service in banking and financial service.

Amuchie described the honor as “a call to serve— as a mentor, advocate, and bridge-builder within the ICAN community and the broader Fidelity Bank family.”

The ceremony concluded with the swearing-in of the new executive committee by the 61st President of ICAN, Mallam Haruna Yahaya, signaling a new era of visionary leadership for the Chapter.

It will be recalled that Fidelity bank is ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

 Emmanuel lkpeama.

 Sterling Financial Holdings Company Plc (“Sterling HoldCo” or “the Group”) has reported a 157% year-on-year surge in profit-after-tax (PAT) in its unaudited results for the half-year ended June 30, 2025, demonstrating continued momentum in revenue growth, operational efficiency, and capital position.

The Group’s PAT reached ₦41.78 billion, up from ₦16.26 billion in the same period last year. Earnings per share rose significantly to 89 Kobo from 56 Kobo, reflecting a consistent increment in value to shareholders.

Gross earnings climbed by 39.7% to ₦212.61 billion, compared to ₦152.20 billion for H1 2024, while interest income rose by 38.3% to ₦167.16 billion, and non-interest income increased by 45% to ₦45.45billion, attesting to the Group’s strategic focus on revenue diversification.

Additionally, the Group’s cost-to-income ratio improved to 64.5% from 75.7%, underscoring the benefits of ongoing cost optimisation measures.

Total assets stood at ₦4.08 trillion at the end of June, representing a 15.3% increase from ₦3.54 trillion in December 2024.

Shareholders’ funds were up 22.9% for the period, reflecting the impact of recent recapitalisation and healthy retained earnings. Asset quality also improved, with the non-performing loan ratio declining to 5.1% from 5.4% at the close of the 2024 financial year.

The Group’s strong showing in the first half of the year followed a successful private placement and rights issue, through which approximately ₦100 billion was raised.

The proceeds enabled the full recapitalisation of Alternative Bank and further strengthened the capital base of Sterling Bank, the Group’s flagship subsidiary.

The Group is set to enter the public phase of its capital raising programme in the coming weeks, aiming to close the ₦53 billion recapitalisation gap of Sterling Bank and further strengthen the institution’s capacity for sustained growth across its diversified income streams.

This public offer is the first phase of the US$400m capital raising programme approved by Sterling Holdco’s shareholders at its Annual General Meeting which held on the 30th of June 2025.

Commenting on the Group’s feat and long-term vision, Yemi Odubiyi, Group Chief Executive Officer, Sterling Financial Holdings Company, said:“Our outstanding half-year results are the product of clear strategic focus and a relentless drive to create lasting value for our stakeholders.

Our performance reflects not just robust growth in core income lines, but also our success in building a resilient and agile business model, capable of delivering superior returns even in a dynamic macroeconomic environment.

As we continue to diversify our income streams and invest in operational efficiency, we remain steadfast in our commitment to responsible growth, prudent risk management, and sustainable impact.

Looking ahead to the next phase of our capital programme, we see tremendous opportunity to deepen our footprint in Nigeria’s growth sectors and to catalyse meaningful progress for our customers, communities, and the broader economy.”

Sterling HoldCo’s ongoing investments in renewable energy, healthcare, and community development highlight its role as a catalyst for positive change across Nigeria’s critical sectors.

As the Group forges ahead with its plans for the second half of the year, it remains resolute in its pursuit of sustainable growth, continuous innovation, and the creation of enduring value for all stakeholders.

 

 

Emmanuel Clement

Since its inception in 2022, the Women and Youth Financial and Economic Inclusion(WYFEI 2030) Initiative, a key initiative of the African Women’s Decade on Financial and Economic Inclusion of African Women 2020-2030 , has created multi-stakeholder platforms to advance targeted financial inclusion strategies for African women and youth.

A recently concluded high-level convening, organized by the African Union Commission Women, Gender and Youth Directorate in partnership with the Sterling One Foundation and supported by the German Federal Ministry for Economic Cooperation and Development (BMZ) through the GIZ African Union Portfolio, focused on mobilizing private sector capital and expertise.

The high-level meeting sought to unlock solutions to persistent financing gaps affecting women and young people.

Held in advance of the Africa Social Impact Summit (ASIS 2025), the convening emphasized the crucial role of the private sector in unlocking USD 100 billion to support at least ten million women and youth in Africa by 2030 as part of the WYFEI 2030.

The dialogue focused on how private actors can design gender- and youth-responsive financial products and services, build market infrastructure and data systems that make underserved entrepreneurs bankable, and provide technical support and business development services to help women- and youth-led enterprises scale.

Ms. Prudence Nonkululeko Ngwenya, Director of the Women, Gender and Youth Directorate at the African Union Commission, set the scene by stressing the need for systemic reform.

She stated that “A fundamental shift is needed to place women and youth at the center of resource allocation, policy making, and accountability”.

Ms.Ngwenya further emphasized that “The private sector is not a guest at this table, but a co-owner of the agenda, with WYFEI 2030 designed for co-investment, innovation, and scale to move from isolated impact to ecosystem change.”

Echoing this statement, Ms. Olapeju Ibekwe, Chief Executive Officer of Sterling One Foundation, underscored that “Inclusion cannot be rhetoric. Women and youth are not peripheral to Africa’s economy. Any agenda that sidelines them is simply incomplete.

Reaffirming that “Every day, capital doesn’t reach them; opportunity is withheld from the continent.”

Ms. Ibekwe added that, “Partnerships must move beyond alignment and toward shared execution that reflects the realities of Africa’s investment landscape.”

Dr. Tobias Thiel, Director of GIZ African Union, also highlighted the systemic barriers limiting financial inclusion for women and youth, emphasizing that addressing these challenges is “Both a moral and economic imperative.”

He called on stakeholders to “Move forward together, with boldness and resolve, to create an Africa where opportunity is truly equal, and potential is limitless” reaffirming GIZ’s support for the AU’s WYFEI 2030 Initiative.

During the convening, a panel discussion featuring public and private sector actors explored ways private capital can be mobilized to deliver inclusive outcomes.

The conversation focused on the structural changes needed to scale early-stage investment into underserved markets, from deal origination to data collection.

The meeting also featured the introduction of the EmpowerHer Africa initiative by Dr. Nadi Albino, Deputy Director of Partnerships at UNICEF.

This transformative program
aims to create pathways for 50 million adolescent girls and young women across Africa to access financing, technology, and entrepreneurial resources through the WYFEI
2030 Initiative, empowering the next generation of women leaders and innovators.

This dialogue marks the start of a series of coordinated engagements led by the African Union Commission’s Women, Gender, and Youth Directorate, with the Sterling One Foundation anchoring public–private conversations across the continent.

These engagements aim to mobilize strategic partnerships, unlock innovative financing solutions, and align private-sector action with continental priorities to remove systemic barriers to women’s and youth’s economic inclusion.

 

 

Through sustained collaboration,
these dialogues are set to generate scalable solutions and measurable progress towards Africa’s inclusive economic transformation.

For further information, please contact:
Ms. Rym Ben Salah | Economic Empowerment Expert, Women, Gender and Youth Directorate | African Union Commission |

E-mail: SalahR@AfricanUnion.org
Ms.Chiwendu Isaiah | Communications Strategist, Sterling One Foundation | Email: chiwendu.isaiah@sterling.ng

 

Emmanuel Clement 

Small and Medium Enterprises (SMEs) have been encouraged to adopt digital tools to enhance their operations and drive sustainable growth.

This call was made during the Fidelity SME Empowerment Program 2025, held on Wednesday, July 23, 2025, at the bank’s dedicated SME Hub in Gbagada, Lagos.

The event, which drew a large turnout of entrepreneurs and stakeholders, marked the official launch of Fidelity Bank’s initiative to equip 100 growth-ready SMEs with ERPRev-enabled POS systems and business support tools—at no cost to the beneficiaries.

Welcoming guests, Dr. Nneka Onyeali-Ikpe, Managing Director/CEO of Fidelity Bank Plc, represented by Mr. Stanley Amuchie, Executive Director/Chief Operations and Information Officer, emphasized the bank’s commitment to SME development:

“At Fidelity Bank, we believe SMEs are not just the backbone of our economy—they are the architects of innovation, resilience, and inclusive growth.

Through the Fidelity SME Empowerment Program (FSEP), we are providing 100 entrepreneurs with the tools, training, and support they need to thrive in today’s digital economy.”

Through the initiative, benefiting businesses will receive: a fully-installed POS desktop system, ERPRev business software, receipt printer and barcode scanner, inventory data input support, financial and bookkeeping training, branding and onboarding support, six months of post-installation monitoring; and a free Fidelity POS with instant settlement.

The three-day program features high-impact trainings, masterclasses, and networking opportunities designed to spark innovation, build partnerships, and unlock new markets.

Speaking at the event, Mrs. Adaonah Kene-Uyawune, CEO of Manmark -Fidelity Bank’s strategic partner, noted, “This digital transformation initiative is a game changer.

It replaces manual bookkeeping with a unified system that simplifies accounting, inventory, HR, and profitability tracking. These tools are not handouts—they are instruments for long-term business success.”

According to the Nigerian Bureau of Statistics, SMEs make up 96% of all businesses in the country, employ over 80% of the workforce, and contribute nearly 50% to the national GDP.

Despite their critical role in the economy, many still rely on manual processes that hinder efficiency and limit access to finance.

Fidelity Bank’s intervention is therefore both timely and strategic—providing SMEs with the digital tools and support they need to streamline operations, improve transparency, and unlock new growth opportunities.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.