Theinvestigator news

Category: Business

  • Dr. Nneka Onyeali-Ikpe Champions Transformational Leadership At London Business School Women’s Day Forum.

    Dr. Nneka Onyeali-Ikpe Champions Transformational Leadership At London Business School Women’s Day Forum.

    Emmanuel Clement 

    As part of this year’s International Women’s Day celebrations, the London Business School (LBS) Alumni Community Nigeria hosted a private brunch and fireside chat that placed the spotlight firmly on one of Nigeria’s most impactful business leaders—Dr. Nneka Onyeali-Ikpe, the Group Managing Director and Chief Executive Officer of Fidelity Bank Plc.

    The event which was held in Lagos,gathered an elite group of C-suite executives from across finance, FMCG, investment, and other critical sectors for a powerful conversation on leadership, resilience, and the shared responsibility to “Accelerate Action,” this year’s global Women’s Month theme. But it was Dr. Onyeali-Ikpe’s presence and insights that set the tone for the day.

    As the first female CEO in Fidelity Bank’s history, Dr. Onyeali-Ikpe has not only shattered ceilings but redefined what bold, values-driven leadership looks like in Nigeria’s banking sector.

    Drawing from her remarkable journey rising through the ranks of a male-dominated industry, she shared personal stories marked by perseverance, strategic thinking, and an unyielding commitment to excellence.

    “I have personally never acknowledged the gender glass ceiling in my career—or in anything in my life,” she declared. “When something looks like a barrier, I see it as motivation to go even harder.”

    Her words were not merely motivational—they reflected a lived philosophy that has defined her leadership at Fidelity Bank, where she has championed innovation, diversity, and financial inclusion while delivering record-breaking financial results. Dr. Onyeali-Ikpe’s tenure has become synonymous with transformation—not just for the bank, but for the broader financial services industry.

    She spoke candidly about the power of discipline, self-belief, and taking calculated risks. “Don’t fear failure. It’s part of the process,”

    “Every misstep has taught me something that helped me get better.”she added

    These insights resonated deeply with attendees, many of whom saw reflections of their own challenges and aspirations in her journey.

    Dr. Onyeali-Ikpe also emphasized the broader dimensions of leadership—particularly the importance of balance in the lives of modern women.

    “Learning to balance family and career is not just important for business success, it’s important for success in life,” she noted, reminding participants that holistic well-being is a leadership imperative.

    A passionate advocate for gender equity, she acknowledged the progress made in the financial sector, pointing out that 11 of Nigeria’s 26 commercial bank CEOs are now women. Still, her call was clear: “That’s progress, but we must not stop there. We want to see that number go to 14, 15, and beyond.”

    The London Business School, renowned for producing global business leaders, is home to a vibrant Nigerian alumni community committed to impact. Dr. Onyeali-Ikpe’s conversation was a reminder of the kind of leadership that truly drives change—one that is visionary, courageous, and deeply rooted in purpose.

    “I’m truly impressed by the quality of professionals in this network,” she said. “It’s refreshing and inspiring to see so many women leading with excellence.”

    In closing, Akintayo Sanwo-Olu, President of the LBS Alumni Community in Nigeria, echoed the spirit of the gathering: “As a community, we’re not just talking about change—we’re building it. At LBS, we are committed to empowering more women to lead across industries and actively changing the narrative around gender and leadership.”

    Indeed, in Dr. Nneka Onyeali-Ikpe, the community found not just a speaker, but a symbol of what’s possible when women lead with vision and purpose

  • Dangote Refinery Splashes Petrol Price Nationwide.

    Dangote Refinery Splashes Petrol Price Nationwide.

    Tunde Omoniyi 

    The Dangote Petroleum Refinery has announced a fresh cut in the pump prices of Premium Motor Spirit (petrol) nationwide.

    The new rates now range from ₦875 to ₦905 per litre, depending on location.

    A breakdown of the revised prices shows, Lagos:₦875, South-West ₦885, North-East: ₦905, North-West & Central: ₦895, and South-South & South-East: ₦905

    Prices indicate a ₦15 reduction per litre across all regions and partner retail outlets, applying to all major fuel marketers in partnership with the refinery, including MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy.

    Before the new price template, Lagos residents paid ₦890 per litre, while prices rose to ₦920 in the North East and South-South regions.

    Lagos residents will now pay ₦875, while those in the North East and South South will pay ₦905 per litre with the new adjustments.

    “Our quality petrol and diesel are refined for better engine performance and are environmentally friendly,” the company stated in the notice.

    The development comes after the 650,000 Lekki-based refinery on Monday said the naira-for-crude deal allowed it to reduce the price of petrol at the pumps.

    In a release signed by its Group Chief Branding and Communications Officer, Anthony Chiejina, the company said the decision to maintain price stability reflects its unwavering commitment to supporting the Nigerian economy and alleviating the burden on consumers from the increase in fuel prices by maintaining price stability.

    The company affirmed that the prices of petrol will remain affordable and stable.

     

     

  • Osun Residents Benefit From Fidelity Food Bank Initiative.

    Osun Residents Benefit From Fidelity Food Bank Initiative.

    L-R: Commissioner for Education, Osun State, Hon. Dipo Eluwole representing Governor Ademola Adeleke of Osun State; Regional Bank Head, SouthWest II, Fidelity Bank Plc, Mrs. Morenike Olabisi; Wife of Osun State Governor; Ambassador Ngozi Adeleke; Regional Operations Service Supervisor, Southwest 2, Fidelity Bank Plc, Mildred Ajepe; and Wife of the Deputy State Governor, Mrs. Olusola Adewusi; during the Fidelity Food Bank distribution in partnership with Esther Adeleke Foundation in Modakeke, Ile-Ife Community, Osun State recently.

    Emmanuel lkpeama 

    Over 4,500 residents have benefited from a two-day feeding programme organized by Fidelity Bank Plc in Abere and Modakeke communities in Ile-Ife, Osun State.

    The program, which saw to the distribution of essential food items, was executed in collaboration with the Ministry of Cooperatives and Empowerment and the Esther Adeleke Foundation.

    Speaking during the distribution event, the Managing Director/Chief Executive Officer, Fidelity Bank, Dr. Nneka Onyeali-Ikpe, represented by the Regional Bank Head, Southwest II, Mrs. Morenike Olabisi emphasized that the Fidelity Food Bank initiative underscores the bank’s commitment to Corporate Social Responsibility (CSR) and community welfare.

    She noted that since the initiative was launched in April 2023 by Dr Nneka Onyeali-Ikpe, it has impacted communities across all six geopolitical zones in Nigeria.

    According to Mrs Olabisi, “This is the third distribution exercise in Osun State this year, and our aim is to achieve zero hunger in Nigeria and achieve the Sustainable Development Goal 2.

    Our CSR initiatives are designed not just to provide immediate relief, but to empower people and improve their livelihoods.

    “The bank will be donating 500 Point of Sale (POS) machines to the Ministry of Cooperatives and Empowerment for onward distribution to residents In addition to the food bank distribution.

    “These POS machines will serve as an income-generating tool for many families and small business owners across the state. Fidelity prides itself as a responsible organisation, and we place a huge premium on the wellbeing of our host communities”, she added.

    Responding to the gesture, the Governor of Osun State, Senator Ademola Adeleke represented by the Commissioner for Cooperatives and Empowerment, Bayo Ogungbangbe, commended Fidelity Bank for the social intervention programme and its continued support to the people.

    “This is not the first time Fidelity Bank is giving back to the state and this shows that the well-being of the people is of top priority to the bank.

    We are deeply grateful for their sacrifice and we urge other corporate organizations to emulate Fidelity Bank on this laudable initiative”, he stated.

    On her part, the founder of Esther Adeleke Foundation and the wife of Osun State Governor, Erelu Ngozi Adeleke, emphasized that this is the second edition of the Fidelity Food Bank in collaboration with Esther Adeleke Foundation noting that, the first edition at the Asubiaro Hospital, Osogbo inspired them to do more.

    Her words, “My resolve to help the needy and alleviate poverty necessitated my partnership with Fidelity Bank in the distribution of food items to the needy.

    There is hardship in the country, and I am doing my best to support the governor of Osun State to cater for the needs of Osun people.

    “I want to appreciate the management of Fidelity bank for their dedication to the people of Osun state, and we want to assure the bank that they have our utmost support”, she added.

    Investigator news reports 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 also 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 CEO’s Share Acquisition Signals Strong Confidence In Tier-One Lender.

    Fidelity Bank CEO’s Share Acquisition Signals Strong Confidence In Tier-One Lender.

    Emmanuel lkpeama

    In a decisive move underscoring unwavering confidence in Fidelity Bank Plc’s resilience, Managing Director and CEO, Dr. Nneka Onyeali-Ikpe has acquired an additional 18 million shares of the bank, valued at approximately ₦366 million.

    According to a regulatory filing posted on the Nigerian Exchange Group (NGX) Disclosures portal, this strategic investment was executed at ₦20.35 per share on May 19, 2025, the same day an online platform published an unsubstantiated report on a Supreme Court ruling in a decades-long case that the bank inherited from the defunct FSB International Bank that it absorbed in 2005.

    Dr. Onyeali-Ikpe’s latest acquisition is not an isolated gesture. Between November 21 and 22, 2024, she purchased 15 million shares worth ₦239.4 million, and subsequently added another 10 million shares valued at ₦157.9 million on November 26 and 27, 2024.

    These cumulative investments reflect a consistent pattern of personal commitment to the bank’s long-term success.

    Demonstrating Leadership Through Personal Investment

    The CEO’s substantial personal investments serve as a powerful testament to her confidence in Fidelity Bank’s strategic direction and financial health. By increasing her stake during a period of legal scrutiny, Dr. Onyeali-Ikpe sends a clear message of stability and trust in the institution’s governance and operational integrity.

    Robust Financial Performance Reinforces Investor Confidence

    Fidelity Bank’s financial results further validate this confidence. In the first quarter of 2025, the bank reported a Profit Before Tax of ₦105.8 billion, marking a 167.8% increase compared to the same period in 2024. Gross earnings rose by 64.2% year-on-year to ₦315.4 billion, driven by significant growth in interest income and non-interest revenue.

    The bank’s balance sheet remains solid, with total deposits increasing by 11.1% year-to-date to ₦6.6 trillion, and net loans and advances growing by 5.0% to ₦4.6 trillion. These figures highlight Fidelity Bank’s strong liquidity position and its capacity to support large-scale projects and absorb financial shocks.

    Despite the rash of malicious publications on the bank that has been debunked by the Central Bank of Nigeria (CBN), Fidelity Bank’s share price has demonstrated resilience. After reaching ₦21.00 on May 13, 2025, the stock experienced a modest decline, closing at ₦20.00, a 3.8% decrease. This stability suggests that investors remain confident in the bank’s fundamentals and leadership.

    Dr. Nneka Onyeali-Ikpe’s continued investment in Fidelity Bank during a period of legal scrutiny exemplifies strategic leadership and personal commitment. Her actions not only reinforce investor confidence but also underscore the bank’s robust financial standing and resilience. As the institution looks to closing out the legal process as mandated by the court, stakeholders can take solace in the demonstrated strength and stability at the helm of Fidelity Bank.

  • Who Is Afraid Of Fidelity Bank?

    Who Is Afraid Of Fidelity Bank?

    By Udeme Etukeyen

    Leading up to the recent superlative annual reports showcasing one of the most significant growth experienced by a Nigeria Financial Institution in recent years I was forced to ask “what is Fidelity Bank” doing right?

    My banking and financial sector experience got me digging deeper into the statistics of the report-Fidelity Bank recorded a substantial 210.0% growth in PBT, reaching N385.2 billion in FY 2024. Deposits increased by 47.9%, from N4.0 trillion in 2023FY to N5.9 trillion in 2024FY, Gross earnings shooting by 87.7% to N1,043.4 billion which was primarily caused by a 106.9% increase in interest and similar income. Was I impressed? Absolutely 👍🏾

    Now to the scary part, they opened the year with a bang implying that 2025 year end results was going to be nothing but spectacular; check this out-Fidelity reported a whooping 167.8% increase in PBT (Profit Before Tax)to N105.8 billion in Q1 2025, compared to N39.5 billion in Q1 2024. Gross earnings from January to April had reached some N315.421 billion signaling a 64.21% increase year-on-year.

    These results were nothing short of astonishing and with great hope I sat my team to review our Investment Strategy to accommodate taking up equities in Fidelity and advising our portfolio investors to do same.

    We quickly appraised the fundamentals and Key Success Factors to include their focus on the strategic youth economy that the Creative and Digital Transformation sector promises, the banks bullish inroads in MSME promotion and financing, their glowing penchant for Gender inclusion without abandoning the core sectors of Mining, Renewables and other key industries

    Then came the dissecting of Leadership, my team of analysts mostly female went on about Fidelity MD being one of the most experienced and affable Amazons in the industry; done this, achieved that and all the entreaties you’d expect from smart ladies who feel mentored from a distance. I didn’t hesitate to draw their attention to the experience of the menfolk within the organization like I had any measurable data to establish that mix…truth remains you can’t but admire the Banks Leadership and strides

    A deeper look at the banks expansion globally could reveal a strategic and noiseless acquisition of Union Bank,London and their planned incursion into African and other European financial markets, you just can see that such daring strides and impact would give competition and detractors sleepless nights. Not in an era where sleeping pills are sold strictly by prescription and no thanks to the high cost of medication for peddlers of cheap propaganda

    Within barely 30days of announcing such magnificent results little wonder how pundits would cook or spin a narrative to suggest a bank that has announced herself as First Tier with shoulders leveled up with other Banking giants would shudder over a judgement against her customer G.Cappa or even the contribution they would be required to cough out over that said Sagecom saga. With that judgement not going the way of pundits a contemptuous attempt at calculating interest at unclassified rates from an initial N14b to cause an unnecessary scare or negative press on the bank speaks volumes of how we unrepentantly strive to destroy value in our economy.

    One would think that interpretation of the judgment and computation of due figures which will understandably come with a payment plan be awaited instead of the usual bad blood generated and envisaged by toddler media characters.

    It is not in doubt that the discerning public sees through the cruise and flat falling attempt of dramatic clout chasers ever ready to stain Fidelity’s white apparel which savvy Investors and analysts are filled with bridal admiration

    Like Joseph Campbell hinted in his famous quote “The cave you fear to enter holds the treasure you seek.” We cast our treasures and bets on Fidelity Bank as the Nigerian treasure house to beat in the years ahead!

    Udeme Etukeyen is an Abuja based Pan African Investment Advisory Expert

  • LASAA Extends Educational Support To Ikorodu Public Schools in CSR Drive

    LASAA Extends Educational Support To Ikorodu Public Schools in CSR Drive

    L-R: Head of Operations and Innovation, Lagos State Signage and Advertisement Agency (LASAA), Mr Adegbolahan Dixon; Head Teacher, Anglican Primary School, Igbogbo, Ikorodu, Ms Akeredolu Kehinde; Hon. Gbolahan Ogunleye representing Ikorodu 1 House of Assembly (Chairman SDG and Overseas Investment); MD/CEO, LASAA, Prince Fatiu Akiolu; Chairman Omo Daada Foundation, Hon. Omoniyi Dada; and Head, Corporate Communications and Strategy, LASAA, Mrs. Atinuke da-Silva-Osadjere at the presentation of bags and writing materials in Anglican Primary School, Igbogbo, Ikorodu, Lagos recently.

    Emmanuel lkpeama 

    The Lagos State Signage and Advertisement Agency (LASAA) has broadened its corporate social responsibility (CSR) efforts with the second phase of its “Back to School Storm” initiative, reaching four public primary schools in the Ikorodu area of Lagos State.

    Investigator news reports that the Agency visited Methodist Primary School, Igbogbo; Anglican Primary School, Igbogbo; Etunrenren Primary School; and Muslim Primary School, Ikorodu distributing essential school supplies to pupils.

    The donated items included environmentally-conscious school bags crafted from repurposed advertising banners, alongside exercise books and writing materials.

    The initiative underscores LASAA’s commitment to both educational advancement and environmental sustainability, a vision championed by its Managing Director, Prince Fatiu Akiolu.

    The programme aligns with Governor Babajide Sanwo-Olu’s T.H.E.M.E.S Plus agenda, which prioritises education and social development across the State.

    Key LASAA management figures, including the Director of Administration and Human Resource, Mr Gbolahan Oloko; Head of Operations and Innovation, Mr Adegbolahan Dixon; Head of Corporate Communications and Strategy, Mrs. Atinuke da-Silva-Osadjere; and the Head of Legal Department, Mrs. Titilope Raheem were present at the outreach.

    Investigator news gathered that the CSR initiative is a collaborative effort with the Omo Daada Foundation, led by Honourable Omoniyi Dada, who also participated in the distribution events. Dufil Prima Foods, a key sponsor, actively contributed by providing additional school items and nutritious lunches for the pupils at each school, adding a significant humanitarian aspect to the programme.

    Reaffirming LASAA’s long-term commitment, Prince Fatiu Akiolu pledged to extend the initiative to more public schools across Lagos, aiming to cultivate academic excellence and empower future leaders.

    Honourable Sesan Daini, Chairman of Igbogbo Bayeku Local Council Development Area, expressed his profound gratitude for LASAA’s benevolence and encouraged sustained support for the children.

    Further bolstering the initiative, Honourable Gbolahan Ogunleye, Member of the Lagos State House of Assembly representing Ikorodu I and Chairman of the House Committee on Sustainable Development Goals and Overseas Investment donated table tennis equipment to promote sports and extracurricular activities.

    He emphasized the importance of holistic education, encouraging school administrators to prioritise activities that foster the physical, emotional, and intellectual development of pupils.

    Through initiatives such as the “Back to School Storm,” LASAA continues to demonstrate its dedication to social responsibility, youth empowerment, and the advancement of education within Lagos State.

  • Cascador And Sterling Bank Launch Breakthrough Funding For Nigerian Entrepreneurs.

    Cascador And Sterling Bank Launch Breakthrough Funding For Nigerian Entrepreneurs.

    Emmanuel Clement 

     Cascador, Nigeria’s premier accelerator for mid-stage entrepreneurs, has announced a landmark partnership with Sterling Bank to launch a bold new debt funding model to unlock growth for Africa’s most promising ventures.

    Backed by a $2 million Catalytic Fund, the partnership introduces flexible, founder-friendly financing for Cascador alumni; pairing low-interest debt with business mentorship, tailored repayment terms, and dramatically reduced collateral requirements.

    “This is a breakthrough moment for Cascador and for the entrepreneurs we serve,” said Dave DeLucia, Founder of Cascador. “Through our partnership with
    Sterling Bank, we’re deploying capital in a way that’s truly catalytic -pairing mentorship and education with access to capital that’s structured around the real-life cash flows of growing
    businesses.”

    Sterling Bank will serve as fund custodian and structuring partner, offering entrepreneurs access to a diverse portfolio of instruments, from equipment loans to revenue-based financing, designed for mid-stage SMEs in sectors critical to Nigeria’s future: healthcare, logistics, education, manufacturing, agri-business, and financial inclusion.

    “We’re proud to support purpose-driven entrepreneurs with capital that meets them where they are -flexible, affordable, and designed around the realities of building a business in Nigeria,” said Abubakar Suleiman, Managing Director and CEO of Sterling Bank.

    “This isn’t just about funding, it’s about creating a new kind of financial support system that prioritises impact over formality and progress over paperwork.

    We hope the fund presents a new model for capital deployment -one that other institutions and private investors across the continent can adopt to unlock the potential of Africa’s entrepreneurs.

    Unlike conventional lending, the Sterling-Cascador model emphasises trust, traction, and long-term viability.

    Beneficiaries will enjoy custom repayment plans and reducedrisk lending, supported by a first-loss guarantee from Cascador and technical
    assistance from leading business advisors.

    Applications for the Catalytic Fund opened February 14th and will culminate in a highprofile, invitation-only Pitch Day on May 14, 2025 where finalists will present to an elite investment committee composed of business leaders, faculty advisors, and investment professionals.

    Cascador will allocate both debt and equity funding based on impact, business viability, and long-term growth potential.

    Additional partners include the Nigeria Sovereign Investment Authority (NSIA) and the Development Bank of Nigeria (DBN), who will sponsor innovation awards for top performing ventures at the Pitch Day event.

    Since 2019, Cascador has supported over 60 entrepreneurs who have collectively raised more than $55M and created thousands of jobs across the continent.

    The launch of the Catalytic Fund, and the collaboration with Sterling Bank, represents a powerful new chapter in Cascador’s mission to strengthen Africa’s entrepreneurial ecosystem.

    Entrepreneurs are encouraged to apply for admission to Cascador’s 2025 accelerator program and, ultimately, eligibility for the Catalytic Fund.

    Investigator news reports that Cascador is an annual, intensive program focused on developing mid-stage Nigerian entrepreneurs who are scaling mission-driven companies.

    Through a unique blend of
    education, mentoring, and personalized support,Cascador empowers entrepreneurs to make a positive impact through job creation, innovation, and development of opportunities for
    underprivileged and marginalized communities. Learn more at cascador.org.

    Sterling Bank is a leading Nigerian commercial bank and one of Africa’s most progressive financial institutions, widely recognized for its bold approach to customer advocacy and ethical
    banking.

    From eliminating local transfer fees through its OneBank platform to championing inclusive access to capital, the bank has consistently led with impact.

    Renowned for its heart
    of Sterling strategy, which focuses major investments into the Healthcare, Education, Agriculture, Renewable Energy, and Transportation sectors of the Nigerian economy, Sterling
    continues to build financial solutions that go beyond banking to enable dignity, mobility, and opportunity for millions of Nigerians. Explore Sterling Bank offerings at sterling.ng.

  • Supreme Court Sets Aside N22trn Judgement Against Union Bank.

    Supreme Court Sets Aside N22trn Judgement Against Union Bank.

    Emmanuel lkpeama 

    The Supreme Court has set aside a Federal High Court judgement in which over N22 trillion was awarded against Union Bank and other parties since 2014.

    The judgement arose from a suit instituted by a company known as Visana Nigeria Limited which claimed that Union Bank was indebted to it in the sum of approximately $8 million at an interest rate of 2.5 per cent per month compounded from January 2000 until judgement and thereafter at 10 per cent per annum from the date of judgement until the sum was fully paid.

    Delivering the lead judgement of the Supreme Court, with which four other Justices agreed, Justice Stephen Jonah Adah regretted how non-adherence to a settled judicial precedent by the two lower courts had caused a simple matter to be in court for over 25 years.

    The final determination of the case is expected to lay to rest the discomfort of the CBN and other regulators of Union Bank, its auditors and rating agencies on the possible impact of the judgement on the going concern status of the bank.

    Visana instituted the suit against the defendants, alleging that Metalloplastica Nigeria Limited, a borrower from Union Bank was indebted to it in the sum of $7,616,188.94 as at December 1993 and that the purported Deed of Debenture made on 24th February 1989, pursuant to which Continental Merchant Bank appointed Chief R. U. Uche as Receiver/Manager of Metalloplastica was invalid, same having been procured “without the prior written consent of Universal Trust Bank and its successors-in title or assigns (being Union Bank) as provided in paragraph 13(f) of the original Debenture issued by Metalloplastica in favour of Universal Trust Bank.

    Judgment was delivered against Union Bank on 16 December 2014 for the sum of USD7,616,188.94 or its equivalent in Naira with pre judgement compound interest at the rate of 4.25 per cent per month from 26th January 2000 till the date of judgement and thereafter at the rate of 10 per cent on the judgement sum per annum from the date of the judgement till final liquidation of the debt.

    The Court of Appeal later heard the application filed by the 1st respondent (Visana Nigeria Limited) to rely on fresh evidence. The Appeal was heard, and judgement was delivered on the 16th of April 2021.

    Judgement was reduced to the sum of USD 365, 605.32 or its equivalent in Naira with pre-judgement with interest at 4.25 per cent per month simple interest from 31st December 1993 to 16th December 2014 and thereafter at the rate of 10 per cent per annum from the date of the judgement at the court below until final liquidation of the Judgment debt.

    Still dissatisfied by the judgement of the Court of Appeal, Union Bank further appealed to the Supreme Court in 2021. Union Bank’s persistence paid off in the judgement delivered on Friday, 25 April 2025.

  • Sterling Bank Introduces Free Bus Rides For Nigerians.

    Sterling Bank Introduces Free Bus Rides For Nigerians.

    …Doubles down on its push for Free Bank Transfers.

    Emmanuel lkpeama 

    After sparking a national movement with its Zero Transfer Fees campaign, Sterling Bank has once again pushed the boundaries of what corporate citizenship can mean to everyday Nigerians.

    Last week, regular Lagosians stepping out after long workdays were met with an unexpected gift: Sterling OneBank-branded buses waiting to take them home, free of charge.

    Starting as a push against bank transfer fees, the initiative has now taken to the streets, as the bank began offering free bus rides to customers across major Lagos corridors, a gesture that will continue through May 2025 to ease the return of workers after the May Day holidays.

    For a city where a single bus fare can be the difference between feeding a family or not,Sterling’s free ride initiative struck a deep chord. What began with free transfers through its OneBank platform has now evolved into a movement on wheels, connecting digital convenience with real-world survival.

    In a time of skyrocketing costs, the bank is reaffirming a simple belief: financial freedom should not end at the removal of bank charges, it should move you, carry you, and lift you.

    Across Lagos, from Obalende to Ikorodu and TBS to Oshodi, the sight of Sterling buses pulling up to offer free rides sparked moments of disbelief, gratitude, and quiet celebration.

    For thousands of commuters, it was a tangible reminder that sometimes, the biggest changes come not from slogans, but from small, deliberate acts of care.

    “For customers who have to choose between transport fare and groceries, this is more than a ride, it’s hope,” said Chidimma Okoli, Masterbrand Marketing Lead at Sterling.

    “When we said we were tearing down the barriers to moving your money, we meant it. But we also meant the barriers to moving yourself, to moving your dreams, to moving your life forward.

    This isn’t just about banking apps. It’s about freedom, in every sense of the word.”

    Mary.E.,a market trader from Oshodi, stepped off a Sterling bus last Friday and captured the mood perfectly. “This is the first time a bank is not just advertising but acting,” she said, beaming.

    “I have saved on transfers all month because of OneBank. And today, I saved on my transport. Sterling ehn, dem sharp. Dem dey move.”

    Across town, a young professional shared his own experience on LinkedIn: “Every naira matters o.

    I already saved money on bank transfers using OneBank. Today, Sterling saved me time, money, and stress after a brutal day at work. They just get it.

    Another rider, Amaka I., a single mother and hairdresser from Ajah, described the free ride as “a blessing nobody told me was coming.” She added,

    “We Lagos people work so hard
    just to move. Today, I didn’t have to count Naira for my bus fare. That is dignity. That is
    respect.”

    Chidimma Okoli emphasized that this initiative was never about fanfare, but about putting philosophy into action. “Financial systems have for too long extracted from Nigerians,” she said.

    “At Sterling, we are making a different choice. We are giving back, not just in naira and kobo, but in opportunities, in relief and in real dignity.”

    This initiative builds on Sterling’s history of standing with Nigerians during critical moments.

    During the pandemic, Sterling was one of the first banks to support remote work transitions and provide digital lifelines to struggling SMEs.

    Through programs like AltSchool Africa and entrepreneur bootcamps, Sterling has opened new doors to skills development and affordable financing. After fuel subsidies were removed, the bank financed transport cooperatives to keep mobility alive for thousands who would otherwise have been
    stranded.

    But according to Okoli, what matters now is not history, it’s momentum. “We’re not trying to relive past glories,” she said.

    “We’re building new victories, alongside the people who trust us every day with their journeys.”

    Beneath the buses and smiling faces lies a deeper story of infrastructure strength. Sterling’s robust digital banking backbone, capable of handling over 180 million transactions and scaling rapidly, allows it to absorb costs that many banks would have pushed onto customers. It is this invisible engine that has further helped make visible change possible.

    As the month of May approaches, the momentum will continue. Workers returning from the holidays can expect to find the free rides still running across locations, a daily reminder that real banking doesn’t just live in apps but also on the streets, in the choices that make hard lives a little easier.

    Sterling is encouraging all riders to share their experiences online, turning thousands of quiet journeys into a loud statement that Nigeria deserves a financial system that carries its people forward, not holds them back. Because true banking is not about hoarding profit; it is about moving lives and moving freely.

     

  • Union Bank’s Edu360 Initiative Fuels Future Stars At Greensprings Football Academy.

    Union Bank’s Edu360 Initiative Fuels Future Stars At Greensprings Football Academy.

    Emmanuel lkpeama 

    Union Bank has again demonstrated its commitment to youth development and quality education by sponsoring the 11th edition of the Greensprings Football Academy.

    The five-day training camp, held from April 13 to April 17, 2025, at the School’s Lekki campus, catered to children aged 5 to 17.

    Participants received expert coaching from top international coaches affiliated with the West Bromwich Albion Football Club, Dutch Football Association and the English Football League (EFL), alongside support from coaches from the Lagos State Football Association and Nigerian football legend Victor Ikpeba, “The Prince of Monaco.”

    The closing ceremony, held on April 17, 2025, was graced by notable guests from the football community, including Lagos State FA Chairman Laimeed Gafar with Samuel Jake Whitmore, Jordan Hall and Owen Jones, West Bromwich Albion coaches.

    During the closing ceremony, Bukola Ayeni, Lead External Communications, Union Bank of Nigeria, stated, “Union Bank is a sponsor in the Greenspring Football Academy under our Edu360 initiative, which aligns with one of our core values of being Community Focused.

    Edu360 is the Bank’s initiative to promote quality education, whether formal or informal, which includes sports and supports SDG 4 on Quality Education.

    With 108 years of legacy of being Nigeria’s most reliable and trusted partner, the Bank’s Edu360 Initiative demonstrates our unwavering commitment to investing in the leaders of today and tomorrow.”

    Mrs Lai Koiki, the Founder and CEO of Greensprings School, mentioned, “We are being future-ready, we are preparing the youth for the future for football and leadership.”

    Victor Ikpeba lauded the school’s effort and sponsors, stating, “This is a school that empowers boys and girls in education, especially football.”

    The Greensprings Football Academy has a proven record of producing professional players, with some graduates playing for the Under-17 National Team of Nigeria.

    This year, the top students, Alabi Aliami and Ayodeji Boluwatife, were awarded additional virtual training sessions with the coaches, amongst other benefits.

    The success of the Greensprings Football Academy underscores the unifying power of football across cultures and nations. Union Bank remains dedicated to fostering youth development and quality education through initiatives like the GreenSprings Football Academy.

    It will be recalled that Union Bank Plc 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.
    More information can be found at: www.unionbankng.com
    Media Enquiries:
    Favour Bukola Ayeni
    +234 0201 2716800
    Email: mediarelations@unionbankng.com