Theinvestigator news

Category: Business

  • Fidelity Bank Supports Quality Education Delivery In Bauchi

    Fidelity Bank Supports Quality Education Delivery In Bauchi

    …Delivers Renovated Classrooms at Historic School.

    Emmanuel lkpeama

    As part of its commitment to enhancing access to quality education, leading financial institution, Fidelity Bank Plc, has renovated three blocks of classrooms at the historic Kobi Government School in Bauchi State.

    The project, executed under the Bank’s Fidelity Helping Hands Programme (FHHP), was made possible through voluntary contributions by staff of the bank’s Bauchi GRA Branch. Their contributions were then matched by the Bank’s Management for the execution of the project.

    Speaking during the handover event, the Regional Bank Head -North-East Fidelity Bank Plc, Dr. Musa Tarimbuka, represented by the relationship manager, Fidelity bank Bauchi GRA Branch, Ibrahim Aliyu, described the initiative as a testament to Fidelity Bank’s dedication to improving the lives of residents in its host communities.

    “This initiative underscores our belief that our success is deeply connected to the well-being of the communities we serve. The renovated classrooms are a testament to the power of collective impact and our ongoing efforts to improve access to quality education and youth empowerment,” He said.

    Receiving the renovated blocks on behalf of the Bauchi State Government, the Commissioner for Education, Dr. Lawal Mohammed, expressed appreciation to Fidelity Bank for the generous intervention and encouraged other corporate organizations to follow suit.

    “This is a commendable contribution by Fidelity Bank, and we assure you that the facility will be put to optimal use. I encourage other organizations in Bauchi to follow suit in supporting the development of education and infrastructure across the state,” Dr. Mohammed stated.

    Fidelity Bank’s renovation of the Kobi Government School joins a long list of interventions executed by the bank in alignment with its CSR pillars of Quality Education and Youth Empowerment. It will be recalled that the bank recently awarded school fees support worth N512.8m to 884 Fidelity Personal Savings Scheme and 472 Fidelity SWEETA customers.

    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.

  • Fidelity Bank Addresses CBN Circular on Forbearance Loans.

    Fidelity Bank Addresses CBN Circular on Forbearance Loans.

    Emmanuel lkpeama

    Fidelity Bank Plc has issued a statement in response to the Central Bank of Nigeria’s (CBN) recent circular on regulatory forbearance concerning Single Obligor Limit (SOL) and other credit facilities.

    The bank emphasizes its commitment to compliance with regulatory policies and directives stating that Fidelity Bank has successfully raised ₦273 billion through a Public Offer and Rights Issue, with plans to raise an additional ₦200 billion via Private Placement to meet the new ₦500 billion regulatory capital requirement

    The release went on to say that the bank’s exposure under SOL forbearance relates to two obligors, with plans to bring it within regulatory limits by H1 2025 as the bank has made substantial provisions for four customers under forbearance and expects to exit all CBN forbearance arrangements by June 30, 2025.

    Investigator news reports that Fidelity Bank remains confident in meeting regulatory requirements, enabling it to pay dividends for the current financial year and the bank is processing necessary approvals for the Private Placement and is working to ensure full provisioning or return of accounts to performing status.

    Fidelity Bank appreciates the continued confidence of its investors, customers, and stakeholders.

  • Akogate Group Sets New Standards In Nigeria’s Food, Water, And Solar Sectors With Commitment To Quality And Transparency.

    Akogate Group Sets New Standards In Nigeria’s Food, Water, And Solar Sectors With Commitment To Quality And Transparency.

    Emmanuel Clement.

    The Chief Executive Officer of Akogate Group, Felix Aganbi, has reaffirmed the company’s commitment to delivering high-quality products and services to the Nigerian market.

    Speaking at a meeting with retailers, distributors, hospitality leaders, and chefs in Abuja, Aganbi highlighted Akogate’s significant strides in solar systems innovation and installation, food and water manufacturing, and civil engineering.

    “Since our establishment in 2006, we have made significant strides in the field of solar systems innovation and installation, catering to both governmental and private sectors.

    “Our accomplishments extend beyond solar energy, as we have also excelled in the realm of food and water manufacturing”

    Aganbi went further to express pride in Akogate’s diverse product range, including Akogate Still Water, Ajimele Oil, herbal teas, melon seeds, and crayfish.

    He also emphasized the company’s strong demand in key international markets for products like cassava fibre chips, peanut, seafood, and leaf products.

    “Akogate offers a variety of products including Akogate Still Water, Ajimele Oil, Akogate bleach and liquid soap, Akogate herbal teas and Akogate melon seeds and crayfish. We provide services in civil engineering, construction, and solar technology’’.

    The CEO underscored Akogate’s passion for energy and commitment to bringing light to communities through its solar technology services.

    He noted that the company has played a significant role in developing solar energy technology in Nigeria and is dedicated to making a positive impact on people’s lives.

    “We have seen tremendous demand for Akogate products like cassava fibre chips, peanut, seafood, and various types of leaf products like scent leaf and bitter leaf.

    We’ve also seen tremendous demand for Akogate’s melon seeds (Egusi), crayfish, bleach, liquid soap and herbal teas in Nigeria and abroad’’

    “We are a leading brand in Solar and food processing. Through our specialized services, we have played a significant role in the development of solar energy technology in Nigeria, working alongside our partners.

    “Our commitment is to make a positive impact on people’s lives whenever and wherever possible’

    ‘’In the past few years, we have made significant investments to enhance and add value to the agriculture and food processing sector.

    This mission aligns with our expanding vision over time. As a result of our efforts, Akogate Still Water has emerged, exceeding expectations and setting new supply chain records in Nigeria.

    Presently, we proudly offer the highly sought-after Akogate Ajimele Palm Oil, which boasts unparalleled and remarkable health benefits. Our processed and neatly packaged Sea Foods, The Shrimps, Crayfish and Periwinkle are also best-selling’’.

    Aganbi said, “Akogate echoes the growing demand for refined products among consumers in Nigeria and abroad.

    ‘’Akogate, an electrical, mechanical, and process design company, is the first indigenous organization in Nigeria to introduce the revolutionary Sunmaster Smart Leaf solar Light.”

    “The group focuses on solar technology installation, construction, maintenance of solar panel systems and pumps’’.

    Aganbi highlighted Akogate’s investments in the agriculture and food processing sector, which have led to the emergence of new products and set new supply chain records in Nigeria.

    The business mogul reiterated the company’s dedication to the highest standards of transparency and quality, ensuring safer roads and streets through its solar lighting solutions.

    “Our concept ensures that lighting is 6pm-6am to guaranty safer road and street, and clear vision all through the dark’’he submitted

    With its innovative products and services, Akogate is redefining the agriculture and food processing sector in Nigeria, while also setting new benchmarks in the solar industry.

  • Fidelity Bank Funds Construction Of Nigeria’s First Privately Built Onshore Oil Export Facility In 50 Years.

    Fidelity Bank Funds Construction Of Nigeria’s First Privately Built Onshore Oil Export Facility In 50 Years.

    Emmanuel lkpeama

    In a significant boost to Nigeria’s crude oil production and export capabilities, leading financial institution Fidelity Bank Plc has facilitated the construction of the country’s first privately built and operated onshore crude export terminal in over 50 years.

    The terminal, located at the Otakikpo Marginal Field in Rivers State and operated by Green Energy International Limited (GEIL), successfully exported its first crude oil cargo at 2pm on Sunday, June 8, 2025, when a Shell-chartered vessel lifted the maiden shipment — marking a key milestone in the nation’s oil and gas industry.

    Commenting on Fidelity Bank’s role in making the project a reality, Managing Director/CEO Dr. Nneka Onyeali-Ikpe said: “Our partnership with Green Energy International underscores our confidence in the ability of indigenous companies to drive progress in the country’s energy sector.

    “With an initial storage capacity of 750,000 barrels — expandable to 3 million — and a loading capacity of 360,000 barrels per day, this terminal will significantly boost Nigeria’s energy security. Transformative projects like this reflect Fidelity Bank’s deep-rooted mission to help individuals to grow, businesses to thrive and economies to prosper.”

    The launch of the terminal is expected to ease reliance on offshore facilities and attract fresh investment into the country’s oil industry.

    GEIL’s chairman, Prof. Anthony Adegbulugbe, described the feat as a historic milestone made possible by divine intervention, the hard work of the company’s team, and the support of regulators.

    “We appreciate all our partners and the dedication of our indigenous technical team who made this happen. It’s a proud moment for us, for Africa’s energy industry, and for the future of the country’s oil and gas development.”

    According to Prof. Adegbulugbe, the terminal was constructed in under two years and stands as the first crude terminal developed by a private operator on the continent.

    The terminal is designed to handle up to 250,000 barrels per day of crude injection, while the Otakikpo field currently produces about 10,000 barrels per day. The company explained that the terminal also provides a strategic evacuation route for more than 40 nearby stranded fields — collectively holding an estimated 3 billion barrels of oil equivalent — thereby strengthening production and export capabilities.

    With growing global demand for Africa’s crude oil, the Otakikpo terminal is poised to attract further investment and reinforce Nigeria’s role in the international energy market. The facility will be key to improving oil evacuation and boosting production in line with the country’s long-term energy goals.

    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.

  • RE: Clarification Of N5Billion Bail Bond Signed By Fidelity Bank MD

    RE: Clarification Of N5Billion Bail Bond Signed By Fidelity Bank MD

     Our attention has been drawn to a publication on Sahara Reporters website titled, “Fidelity Bank MD Onyeali-Ikpe Confesses to Paying ₦5Billion To Avoid Police Detention Amid Over ₦19Billion Fraud Probe”.

    We would like to categorically state this story is patently false and has been maliciously written to deceive the public into believing that a N5billion bail bond was payment to the Police to avoid detention.

    While we are unable to comment on the substantive matter as it is before a competent court, we wish to state emphatically that there is no truth in the claims of the story.

    The police invited the MD during their investigation of a matter reported by James Onyemenam against Mr. Ogo Whoba in respect of the management of the accounts of Woobs Resources Limited. After taking her statement, the police requested the MD to sign a N5 billion bail bond, which she signed on self-recognizance.

    It is the N5billion bail bond that was signed by the MD that was referenced in her conversation with Mr. Ogo Whoba which was recorded without her consent. At no time did the MD pay N5bn to the Police to avoid detention but rather signed a bond as part of her bail requirements.

    This mischievous allegation was presented to the Inspector General of Police (IGP) in a petition written by Victor Ukutt for himself and on behalf of Mr. Whoba. The IGP commissioned a detailed and independent investigation into the allegation and found same to be baseless.

    As a leading financial institution with a long-standing commitment to strong corporate governance, we remain dedicated to adhering to the rule of law and maintaining the highest ethical standards in all our dealings.

  • Justice Prevails: AGF Discontinues Criminal Case Against Fidelity Bank MD,Onyeali-Ikpe,Cites Lack Of Evidence.

    Justice Prevails: AGF Discontinues Criminal Case Against Fidelity Bank MD,Onyeali-Ikpe,Cites Lack Of Evidence.

    Emmanuel lkpeama.

    The Office of the Attorney General of the Federation and Minister of Justice has clarified the discontinuation of a criminal charge against Dr. Nneka Onyeali-Ikpe, Managing Director and CEO of Fidelity Bank Plc.

    In a release signed by the Special Assistant to the President on Communication, Publicity, Office of the AGF and Minister of Justice Kamarudeen Ogundele,on June 09,2025,he stated that the decision to discontinue the charge was made after a careful review of the case, which revealed that Dr. Onyeali-Ikpe was neither the account officer nor the Managing Director of Fidelity Bank when the account in question was opened.

     

    Ogunlende noted that the decision by the Attorney General is guided by the principles of justice, fairness, and the rule of law, ensuring that the legal process is allowed to run its course without interference or speculation.

    He said that the decision followed a careful review of the case which did not connect Dr. Onyeali-Ikpe to the charge as she was neither the account officer nor the Managing Director of the Fidelity Bank when the account used in the alleged scheme of fraud was opened.

    “The Attorney General’s decision to discontinue the criminal charge against Dr. Nneka Onyeali-Ikpe, MD/CEO of Fidelity Bank Plc, is a testament to the office’s commitment to upholding justice and fairness.”

     

    “As the chief law officer of the federation, the AGF has the constitutional power to enter a nolle prosequi, discontinuing a prosecution where it is deemed necessary to prevent a miscarriage of justice.”

    “This decision followed a careful review of the case which did not connect Dr. Onyeali-Ikpe to the charge as she was neither the account officer nor the Managing Director of the Fidelity Bank when the account used in the alleged scheme of fraud was opened.”

    “The Attorney General’s decision is guided by the principles of justice, fairness, and the rule of law, and we have every confidence that this decision is in the best interest of justice and the public.”

    “This decision does not to exculpate Fidelity Bank from the allegations contained in the charge which is still pending before the court, but rather a demonstration of the Attorney General’s duty to ensure that justice is served.”he stated.

    He therefore urge the public to allow the legal process to run its course and to refrain from speculation or jumping to conclusions as the AGF will ensure that the best interest of Justice is served at all times and that all those found wanting, at any time, face the full weight of law to serve as a deterrent to others.

     

  • Union Bank’s Alpher Initiative Enabled Business Success At The NBCC’s Entrepreneurship Programme.

    Union Bank’s Alpher Initiative Enabled Business Success At The NBCC’s Entrepreneurship Programme.

    Emmanuel lkpeama.

    Union Bank of Nigeria has reiterated its commitment to entrepreneurship and women’s empowerment through its alpher initiative by sponsoring the Nigerian British Chamber of Commerce (NBCC) Women and Youth Entrepreneurship Development Centre (WYEDC) Cohort 2 Programme, which has graduated 125 entrepreneurs who have benefited from firsthand entrepreneurship training and business grants.

    Small and medium-sized enterprises (SMEs) in Nigeria account for more than 50% of industrial employment and contribute approximately 48% to the country’s GDP.

    This makes entrepreneurship one of the economy’s building blocks and is a testament to Union Bank’s unwavering dedication to national development in partnership with NBCC.

    In her welcome speech, the Director General of NBCC, Dr. Ebere Njoku, reiterated NBCC’s commitment to supporting entrepreneurship, women’s empowerment, and youth empowerment, citing these as catalysts for economic development and sustainability.

    She appreciated the sponsors, partners and facilitators who devoted their resources and time to upskilling the participants.

    The entrepreneurship initiative stemmed from the visionary goal of Mr. Ray Atelly, President and Chairman of the Council, NBCC, FRPA, to provide entrepreneurship and grant opportunities to Nigerian women and youths.

    Mr. Atelly told the graduates in his speech, “This is your chance, make sure you take it. Don’t let any obstacle stop you because there will be many; if you let it stop you, your dreams are not strong enough.

    You need to keep pushing, someday you will sit at the top of a conglomerate and people will aspire to be like you.”

    Also in attendance was the NBCC’s Patron, Senator Akin Odunsi, FRPA, who congratulated the Cohort 2 graduates.

    He said, “I encourage all of you not to take the training you have received for granted. Use it as a landmark opportunity to be a beacon of hope to others who look up to you.”

    He also urged the Chamber to provide internship opportunities after the six-month entrepreneurship training in organisations for the incoming Cohort 3 and beyond.

    He added that the internship experience will give trainees the unique chance to practice what they learned and, in return, benefit the organisations from their acquired skills.

    The goodwill message at the graduation ceremony was delivered on behalf of Mrs. Yetunde Oni, Managing Director and Chief Executive Officer of Union Bank of Nigeria, by Mrs. Vivian Imoh-Ita, the Bank’s Head of Retail and SME Business, who appreciated NBCC for the life-transforming training they are providing to the youth and women entrepreneurs.

    She further stated, “As a Bank, we understand that when we invest in women and youth entrepreneurs, we are investing in the most powerful catalysts of economic transformation.

    Through the Bank’s alpher initiative, we have enabled success for women-led businesses. In a volatile economy like Nigeria, the challenges facing entrepreneurs are dynamic and significant. As a Bank, we intend to prove that these barriers are not unconquerable and are growth opportunities.”

    Three entrepreneurs, namely Evelyn Ekene Ani of Evani.Ng (First place), Martha Padonu of Beyond Photography (Second place), and Therietta Vershima of La Teriz (Third place) were declared winners of the Union Bank Business Pitch competition held during the graduation ceremony and were rewarded with funding for their businesses.

    The Bank’s sponsorship of the training demonstrates its commitment to fostering a vibrant, innovative, and inclusive entrepreneurial ecosystem for women and all individuals.

    Alpher is the correct sentence case in the context of this press release. Please do not write as Alpher at any point.
    About Union Bank Plc.

    It will be recalled that Union Bank was established in 1917 and listed on the Nigerian Stock Exchange in 1971.

    Union Bank of Nigeria Plc is a household name and one of Nigeria’s long-standing and most respected financial institutions.

    The Bank is a trusted and recognisable brand with an extensive network of over 300 branches across Nigeria. The Bank offers various banking services to individual and corporate clients, including current, savings, and deposit account services, funds transfer, foreign currency domiciliation, loans, overdrafts, equipment leasing, and trade finance.

    The Bank also offers customers convenient electronic banking channels and products, including Online Banking, Mobile Banking, Debit Cards, ATMs, and POS Systems.

  • Plastic Waste Tops Agenda As Sterling One Foundation Marks World Environment Day.

    Plastic Waste Tops Agenda As Sterling One Foundation Marks World Environment Day.

    Emmanuel lkpeama

    With plastic pollution still threatening lives, coastlines, and ecosystems across Nigeria, the Sterling One Foundation is taking concrete steps to confront the crisis through community-led cleanups, strategic partnerships, and ongoing policy engagement.

    Investigator news reports that earlier this year, the Foundation led a major cleanup at Elegushi Beach under its Beach Adoption Programme, a national initiative that has now formally adopted more than five beaches since 2021, including Alpha, Eleko, Lafiaji, Iwerekun and Okun Ajah.

    Across these sites, the Foundation has cleared over 9,000 kilograms of waste, including more than 4,800 kilograms of recyclables, while working with local leaders to embed awareness and long-term stewardship in coastal communities.

    “Our work on the beaches is not symbolic,” said Olapeju Ibekwe, CEO, Sterling One Foundation. “It is a deliberate strategy to improve coastal resilience, protect vulnerable populations, and link sustainability with real opportunity.

    Every cleanup is a chance to restore dignity to the environment and build trust in the systems meant to protect it.”

    On June 13, Sterling One Foundation will join other stakeholders at WEDex 2025, a World Environment Day convening hosted by GreenHub Africa in partnership with the United Nations.

    The Foundation will speak at the “Financing Youth Initiatives for Green Entrepreneurship” session at the UN House in Abuja, focusing on unlocking capital for community-based solutions to plastic waste.

    The United Nations, a key partner on WEDex, also returns this year as co-convener of the Africa Social Impact Summit, scheduled for July 10 and 11 in Lagos.

    The summit will focus on practical solutions for climate resilience and policy innovation under the theme Scaling Action: Bold Solutions for Climate Resilience and Policy Innovation.

    “Plastic pollution is a development issue but also an untapped opportunity,” said Ibekwe. “If we do not treat it as urgent and systemic, it will keep undermining livelihoods, health, and climate goals.

    Yet, if we engage the right partnerships and investment, plastic waste can be turned into a driver of jobs and innovation, especially for young people across the continent.

    The call now is for both the public and private sectors to act, to see beyond the problem and unlock its potential for good.”

    To learn more about Sterling One Foundation’s environmental work, visit onefoundation.ng or register for the summit at theimpactsummit.org.

    About Sterling One Foundation
    Sterling One Foundation (SOF) is a registered non-profit focused on tackling the root causes of poverty in Nigeria, and Africa through interventions and social impact programmes across three critical sectors namely: health, education and climate action & food security.

    Gender Equality and women empowerment are integrated as a cross cutting priority across all our programming areas.

    The Foundation’s programmes adopt a central theme of prioritizing partnerships for the achievement of the Sustainable Development Goals (SDGs). For more information visit onefoundation.ng

     

  • Fidelity Bank Brings Relief To Rivers State Community With Food Bank Initiative

    Fidelity Bank Brings Relief To Rivers State Community With Food Bank Initiative

    Emmanuel lkpeama

    In a strong demonstration of its commitment to community development and poverty alleviation, leading financial institution, Fidelity Bank Plc has donated food packs to over 1,500 individuals in Ihie Town, Etche Local Government Area of Rivers State, through its Food Bank initiative.

     

    Speaking at the donation event, the Regional Bank Head, Rivers/Bayelsa 1 & South Commercial, Fidelity Bank Plc, Mr. Ibisiki Eretoru, noted that the success of the bank is essentially linked to the well-being and prosperity of the communities in which it operates.

    “The Food Bank Initiative is our way of contributing to the well-being of our host communities through regular food support. Each month, with the support of our network of dedicated partners, we distribute food packs to individuals and families across the country,” Eretoru said.

    He further highlighted that the Fidelity Food Bank initiative, launched in April 2023, is part of the bank’s broader corporate social responsibility drive aimed at combating hunger and improving livelihoods across Nigeria.

    The initiative also perfectly aligns with the United Nations’ Sustainable Development Goal 2 which aims to achieve zero hunger.

    “To date, we have distributed over 200,000 food packs through similar outreaches aimed at supporting individuals, strengthening businesses and transforming entire economies,” Eretoru added.

    The food distribution in Ihie town was executed in partnership with The Reach Nigeria Foundation, a non-profit organization focused on sustainable development.

    Speaking at the outreach, the Foundation’s CEO, Benedicta Ibiyemie Ayarete, said that the community was selected due to its need for food support during the post-planting and pre-harvest period.

    “Though Ihie is an agrarian community, we identified it as needing food support at this time. The peaceful nature of the community also makes it a viable location for Fidelity Bank to sustain and grow its presence.

    We are proud to be part of the meaningful impact of this outreach on the people,” she explained.

    Expressing his gratitude, the paramount ruler of Ihie community, His Royal Highness, Eze Richard Amadi, commended the bank’s timely intervention, describing it as “a stitch in time” and a noteworthy effort that addresses the needs of the people.

    Also speaking at the event, Chairman of the Ihie Community Development Committee, Mr. Stephen Asoh, expressed appreciation to Fidelity Bank, highlighting the positive difference the donations will make in the lives of many residents.

    One of the beneficiaries, Mike Okere, praised Fidelity Bank for the initiative and called on other financial institutions to emulate the bank’s approach to community engagement and impact.

    The Fidelity Food Bank continues to be a beacon of hope for underserved communities across Nigeria, reflecting the bank’s unwavering commitment to social responsibility and inclusive growth.

    It will be recalled that Fidelity Bank is ranked among the best banks in Nigeria,it 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.

  • Union Bank, PAPSS Simplify Cross-Border Transactions.

    Union Bank, PAPSS Simplify Cross-Border Transactions.

    Emmanuel lkpeama .

     To deliver simpler, smarter banking solutions, Union Bank of Nigeria has partnered with the Pan-African Payment and Settlement System (PAPSS) network, a Financial Market Infrastructure that provides hassle-free and convenient cross-border money transfers to some selected African countries. 

    This revolutionary payment solution for implementing the African Continental Free Trade Agreement (AfCFTA) is designed to transform how payments are made across Africa.

    With PAPSS, customers can send money instantly to Ghana, Kenya, Rwanda, Liberia, Sierra Leone, Gambia, Malawi, Zambia, Zimbabwe, Djibouti, Nigeria and more African countries in the future.

    Using PAPPS offers numerous benefits to customers, including, but not limited to, instant payments or transfers, cheaper foreign transaction costs, no need to source FX, enhanced security, and intra-African trade opportunities.

    Commenting on this partnership that goes across borders, Peter Amadi, Head of Transaction Banking at Union Bank of Nigeria, said,
    ” At Union Bank of Nigeria, we are committed to driving innovation and excellence in banking. Our focus is on providing seamless and efficient banking through simpler, smarter solutions that meet the evolving needs of our customers.

    We believe in fostering strong relationships and delivering exceptional value to our customers, ensuring their success in today’s dynamic financial landscape.”

    Mike Ogbalu III, CEO of PAPSS, commenting on this partnership, said
    “I am very excited and proud to see Union Bank of Nigeria, a bank with over a century of banking legacy, joining the PAPSS network. This shows how PAPSS will be a game changer for the continent by enabling infrastructure to spur the growth of intra-African trade and commerce, with the active participation of regional economic communities, private sectors, and other stakeholders.”

    Union Bank’s partnership with PAPSS marks a significant milestone in the Bank’s commitment to driving innovation and excellence in banking.

    By providing seamless and efficient banking solutions through simpler, smarter means, the Bank aims to meet the evolving needs of its customers.

    This collaboration enhances the Bank’s service offerings, fosters strong relationships, and delivers exceptional value to customers, ensuring their success in today’s dynamic financial landscape.