Fidelity Bank Plc, one of Nigeria’s top-tier financial institutions, has promoted 376 employees following its recently concluded annual performance review exercise. This represents approximately 12% of the bank’s workforce, underscoring its management’s deep appreciation for the pivotal role played by staff in recoding the highest growth by percentage volumes in the banking industry with 210% increase in its Profit Before Tax (PBT) which grew from N124.3 billion in 2023 to N385.2 billion in 2024.
The announcement, which was recently communicated internally, comes on the heels of a 20% across-the-board salary increase implemented in June 2025—a gesture that reflects the bank’s commitment to staff welfare. It is worth noting that this follows a similar salary adjustment carried out in November 2024.
Under the leadership of Dr. Nneka Onyeali-Ikpe, Fidelity Bank has consistently outperformed market expectations. In 2024, the bank recorded the highest share price growth of 116% in the industry following the completion of its Public Offer which was over subscribed by 238% .
In recognition of the banks stellar performance, global rating agency, Fitch Ratings recently upgraded Fidelity Bank’s National Long-Term Rating from ‘A(nga)’ to ‘A+(nga)’ in a further endorsement of the bank’s financial strength and prudent management. The upgraded ratings reflects improved profitability metrics and robust capital buffers, reinforcing the bank’s sustained upward trajectory.
In a major step toward expanding healthcare access in Nigeria, AXA Mansard Health Limited has enhanced its digital health insurance offering by introducing flexible monthly payment options.
The upgraded solution now allows customers to spread their premiums over up to 10 months, replacing the traditional one-time annual payment and making health coverage more affordable and accessible for millions of Nigerians.
This game-changing product is fully digital, designed to meet Nigerians where they are. It aims to remove the financial and procedural barriers that have historically prevented many from accessing quality healthcare.
“Health insurance shouldn’t be a luxury, it should be a lifeline ,” said Mrs. Adebola Surakat, Chief Marketing Officer at AXA Mansard. “With our extendedsolution, we’ve simplified the journey. Nigerians can now get the protection they need and deserve, without the pressure of a one-time annual payment. It’s affordable, flexible, and, most importantly, accessible anytime, anywhere, digitally.
Through this product, AXA Mansard Health is addressing a key challenge in Nigeria’s healthcare system: low health insurance penetration due to affordability and accessibility issues. By introducing monthly instalment payments and removing paperwork with an entirely digital onboarding process, the company is bringing a much-needed innovation to the market.
“This isn’t just another health insurance product, it’s a gateway to quality health care that everyone can afford,” Mrs. Surakat added. “We have designed it for the average Nigerian students, artisans, young families, and professionals who want healthcare with peace of mind without breaking the bank. Customers can choose from flexible plans that suit their income and health needs. The platform is intuitive, mobile-friendly, and powered by cutting-edge digital infrastructure that ensures a fast and seamless experience.”
Reports published by Sahara Reporters on June 25 claimed that Fidelity Bank’s MD, Dr. Nneka Onyeali-Ikpe was a party to an ongoing case involving fraud on Woobs Resources account with the bank.
This is however not true. The charge sheet dated 12 May 2025 (sighted by this reporter) stated that the Defendants in the suit were Victor Ukutt, Esq, Fidelity Bank Plc, Whoba Ugwunna Ogo and Safiya Whoba.
It will be recalled that the Office of the Attorney General of the Federation and Minister of Justice issued a press release on 9 June 2025 explaining that Dr. Onyeali-Ikpe’s name was struck off the charge as she was neither the account officer nor the Managing Director of the Bank when the account used in the alleged scheme of fraud was opened.
The Securities and Exchange Comission (SEC) has stressed the need for Nigeria to harness its demographic dividend to advance financial inclusion through investments by 2030 for national survival or face deepening inequality.
The Director-General of the SEC, Dr Emomotimi Agama, said this at the United Capital Asset Management Investment forum on Wednesday in Lagos.
Agama, in his keynote address titled: “Advancing Financial Inclusion through Investments: Bridging
Nigeria’s Knowledge and Wealth Gap,” said Nigeria must harness its demographic dividend to boost investment.
“Our theme, Advancing Financial Inclusion through Investments, is not aspirational; it is foundational to national survival.
“We stand at a pivotal moment. By 2030, Nigeria can either harness its demographic dividend or face deepening inequality. The knowledge-wealth gap is not merely an economic challenge; it is a moral imperative,” Agama said.
He said the term inclusion should be reframed as active financial involvement, where access meets empowerment, and capital becomes a tool for transformation.
Agama said that closing the financial inclusion gender gap could lift 700,000 Nigerians from poverty.
He said, “Nigeria has a great population yet we have a tiny drop of this number of persons involved in the capital market.
Thats one reason for poverty, because we are running from money. We have to do something. Our market capitalisation is an opportunity to do something,
We all have
“We need to change the narrative and move the market forward. We must reach out to make the difference. We are committed to protecting investors and developing the market. Our goal is to do the right thing no matter whose ox is gored. We will work by the principles of fairness and equity to change the market. We will provide a fair ground for everyone to aspire.
He noted that MTN Nigeria’s share offering drew 150,000 new investors – 75 per cent women, 85 per cent under 40.
Agama recommended a four-pillar strategy for bridging the gaps.
He listed the four-pillar strategy as democratisation of financial knowledge, catalyse MSME Investment Channels, blended Finance Vehicles: Partner with Bank of Industry (BOI) to de-risk loans for women-led SMEs.
“We need to educate people about finances. As we drive this market, we do so for a purpose, I enjoin everyone to be the disciple and the apostles. Getting this market to move is a deliberate action” He added.
Shell Nigeria is celebrating Country Chair Osagie Okunbor, who is retiring this month after 39 years of service. Stakeholders in the oil and gas industry, including government functionaries, regulators, and chief executives of indigenous and international oil companies are joining to honour Okunbor at the milestone ceremonies which began in Abuja last night (June 24, 2025).
The dignitaries highlighted Okunbor’s contributions to the development of the oil and gas industry in Nigeria especially Nigerian content and playing key roles in Shell’s investments in Deep-water and Integrated Gas in Nigeria. Executive Vice President Nigeria, Marno de Jong, will take on the additional responsibilities of Country Chair Nigeria.
Marno said: “Osagie is a respected leader in Shell and the broader industry whose wise counsel and insights have proved invaluable. Over a career that has lasted nearly 40 years, Okunbor has related with a wide range of stakeholders, from communities to industry leaders, with empathy and excellent relational skills. We will all miss his presence and wish him a most enjoyable retirement.”
Okunbor said: “It has been an honour of a lifetime serving my country on a global platform offered by Shell. The Shell values of Honesty, Integrity and Respect for people have been useful in my modest contributions.”
A graduate of University of Benin in Business Administration, Okunbor joined Shell in 1986 and has served in Nigeria, the United Kingdom, Brunei and the Netherlands. He became Managing Director of the defunct Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Country Chair, Shell Companies in Nigeria in 2015.
His previous roles include Vice President, Infrastructure and Logistics in Nigeria, Vice President Human Resources, Sub-Saharan Africa and Senior Advisor, Upstream International Operated Business.
Okunbor has also been a key player in the Nigerian energy industry, serving as two-term Chairman of the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Industry. He received the H.E. Dr Alirio Parra Lifetime Achievement Award in the Nigeria Oil and Gas Industry in 2022, among several other honours.
L-R: Co-President, Ashoka Africa, Angelou Ezeilo; Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede; Team Lead, Retail Banking, Fidelity Bank Plc, Onyeka Kurume; Winners, Changemaker Idea Pitch-A-Thon, Abule-Eko Community Junior Grammar School Pupils, District 2, Ikorodu Lagos; their Teacher, Alabi Felix; Project Coach, Opeoluwa Jamiu; Branch Leader, Fidelity Bank Plc, Festac, Ethel Genesis; and Regional Director, Ashoka Anglophone, West Africa, Josephine Nzerem; at the Ashoka Young Changemakers Festival in Lagos recently.
As part of its commitment to youth empowerment and social impact, leading financial institution, Fidelity Bank Plc has partnered with Ashoka, a global network of social entrepreneurs, to provide financial support and mentorship to young innovators across Nigeria.
Speaking at the 2025 Ashoka Young Changemakers Festival in Lagos, the Divisional Head, Product Development at Fidelity Bank, Osita Ede, reaffirmed the Bank’s dedication to youth empowerment, emphasizing its place as a pillar of the bank’s Corporate Social Responsibility (CSR) strategy.
“Empowerment is at the core of everything Fidelity Bank stands for,” Ede said. “Creativity and innovation are fundamental to our brand essence and that is why we are excited to support these young changemakers. Listening to their ideas today just validates the investments we have made to foster entrepreneurship and creativity.”
Ede confirmed the bank’s willingness to continue funding and supporting the dreams of young people, adding that the bank plans to offer innovators access to its SME Hub’s resources and specialized master classes designed to nurture their growth.
“We are not just funding initiatives; we are creating an enabling environment where these young innovators can thrive. Our SME Hub will serve as a platform to guide and mentor these changemakers, helping them develop the right mindset and business acumen to succeed,” Ede stated.
On her part, Josephine Nzerem, Regional Director, Ashoka Anglophone West Africa & Director, Venture and Talent, Ashoka Africa, expressed her appreciation for the partnership.
“We are excited to move beyond being just Fidelity Bank’s clients to becoming true partners in the change making movement,” Nzerem stated. “Their continuous support which includes funding for awards and gift packs for young innovators, is vital for sustaining this journey. We celebrate not only the Changemakers but also the process of empowering young people to scale their impact and inspire others.”
The Ashoka Young Changemakers Festival celebrates bold ideas, youth leadership, and innovation. The 2025 edition unveiled nine remarkable changemakers poised to transform Nigeria’s future. Together, Fidelity Bank and Ashoka are creating opportunities for young innovators to turn their ideas into solutions that can transform their communities and the world.
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 call was made at the event marking this year’s World Environment Day facilitated by Unity Bank’s Sustainability Team to fashion out innovative strategies to curb plastic pollution in Nigeria in line with this year’s global theme: “Ending Plastic Pollution.”
In his remarks, Mr. Usman Abdulkadir, Executive Director, Risk Management, Unity Bank Plc, reaffirmed the Bank’s commitment to sustainability, adding that issues like plastic pollution carry deep risk implications for businesses and communities.
“Environmental degradation is increasingly a business risk, not just a corporate social concern,” Mr. Abdulkadir stated. “We must all begin to view environmental stewardship as a duty that cuts across sectors – finance, government, industry, and civil society. Unity Bank remains committed to integrating ESG principles into its risk frameworks and sustainability agenda.”
Guest speakers included leading waste management entrepreneurs and environmental activists such as Sunday Kolawole Sholanke, Co-founder/CEO of PETsPoint Recycling Nigeria, and Omoh Alokwe, Co-founder/CEO of Street Waste Company Limited.
Speaking at the Webinar, Mr. Sholanke decried the alarming volume of plastic waste in Nigeria, putting estimates on the country’s waste generation to about 596 million metric tonnes annually, with 88% of it neither reclaimed nor recycled.
“Nigeria ranks as the 9th highest contributor to global plastic pollution. Much of Nigeria’s plastic waste ends up in landfills, drainage systems, and water bodies, causing extensive environmental damage and posing serious health risks,” he explained.
He also shared startling global statistics: “Over one million plastic bottles and 10 million plastic bags are produced every minute. In 2020 alone, eight million tons of plastic bottles were produced globally, with less than 30% collected and under 10% recycled. The rest is dumped, burned, or abandoned in the environment, worsening risks of flooding, climate disruption, and disease.”
He identified poor waste management culture, low public awareness, and lack of community collection infrastructure as major factors aggravating the Nigeria’s plastic waste crisis.
Calling on the financial services sector to be more proactive, Sholanke urged Banks to invest in green financing by increasing access to affordable credit for green businesses and eco-friendly initiatives.
Also speaking, Omoh Alokwe emphasized the role of regulators in strengthening enforcement and updating policy frameworks to reduce harmful practices that fuel the global plastic crisis.
Also speaking in the same vain, Mr. Ibukun Coker, Head of Strategy and Innovation at Unity Bank Plc emphasized the Bank’s commitment to sustainable practices and environmental protection, highlighting the role of the financial sector in driving meaningful change.
“Plastic pollution is not just an environmental issue, it is an economic and public health crisis,” said Mr. Coker. “At Unity Bank, we believe that sustainability should be more than a policy; it must be embedded in how we operate, the projects we finance, and the partnerships we build.”
The webinar offered a platform for robust dialogue around sustainable actions and innovative solutions that can mitigate the escalating threat of plastic pollution and promote environmental protection.
Unity Bank has consistently championed environmental causes, including its annual Earth Day partnerships with non-profits such as RESWAYE to clean the Royal Beach in Elegushi, Lagos, part of its mission to protect marine ecosystems. In its most recent Earth Day campaign, the Bank challenged every staff member across 32 states to plant a tree in their locality, driving a grassroots reforestation movement and reinforcing environmental awareness
L-R: Group Head, Climate and Finance Sustainability, Bank of Industry, Lanre Babalola, General Manager, Regulatory Affairs, MTN Group, Oyeronke Oyetunde, Head of programmmes, UN Global Compact Network Nigeria, Gloria Okorie (Moderator), Director, Sustainability, IHS Nigeria, Titilope Oguntuga, Head, Corporate Sustainability and Responsibility Wema Bank, Abimbola Agbejule after their panel session on Collaborative Strategies for Greener Business Practices, Innovation and Sustainable Development at a private sector dialogue on Environmental Stewardship organised by the United Nation Global Compact Network Nigeria in Partnership with IHS Nigeria, in commemoration of 2025 World Environment Day.
IHS Nigeria, in collaboration with the United Nations Global Compact Network Nigeria, hosted a high-level private sector dialogue themed “Collaborative Strategies for Greener Business Practices, Innovation and Sustainable Development”.
The event, held in Lagos, brought together key players from different sectors including finance, law, telecommunications, biodiversity, and corporate sustainability to explore actionable pathways to achieve meaningful environmental stewardship in Nigeria.
The panel session offered bold perspectives on integrating sustainability into business frameworks across different sectors, whilst dispelling myths, and highlighting opportunities for organizations, and calling for collective action from all players within the business value chain.
Delivering a keynote address, Titilope Oguntuga, Director, Sustainability at IHS Nigeria, emphasized the urgency of environmental consciousness:
“Sustainability is not a destination — it’s a collective journey.
It requires courage to transform, vision to lead, and collaboration to scale. Nigeria stands at a crossroads. We can either be overwhelmed by the risks or rise to become a beacon of green innovation and inclusive growth in Africa. The choice is ours — and the time is now.”
Sylvie Josel, Lead, Biodiversity and Nature-Based Solutions at the United Nations Global Compact, joined virtually from New York and spotlighted nature as a strategic asset:
“Nature must no longer be treated as an afterthought. It underpins everything, from human rights to supply chains.
Embedding biodiversity into a company’s core strategy isn’t just a risk mitigation measure; it’s a smart, future-forward business imperative”
Lanre Babalola, Group Head, Climate Finance and Sustainability at the Bank of Industry (BOI), provided insights into how BOI is funding sustainable ventures and driving innovation:
“We look beyond profitability; we look at environmental and social impact. Whether it’s plastic roads, biogas, or solar transitions, we support businesses that are not only bankable but capable of reshaping the future.”
From the legal perspective, Oyeronke Oyetunde, General Manager, Regulatory Affairs, MTN Group, drew attention to the regulatory challenges hindering sustainability adoption:
“Our legal frameworks are trailing behind today’s sustainability realities. We need forward-thinking laws, reduced regulatory silos, and incentives that reward the right behavior. Sustainability can’t thrive where enforcement is weak, and taxation is excessive.”
Abimbola Agbejule, Head, Corporate Sustainability and Responsibility at Wema bank, spoke passionately about inclusiveness in sustainable development:
“You don’t need to start big to make impact. MSMEs make up a huge part of our economy. Sustainability should be embedded in their day-to-day activities, and we must democratize access to knowledge, tools, and partnerships.”
The session was moderated by Gloria Okorie, Head of Programs at the United Nations Global Impact Center.
The event closed with a resounding call to action for stronger legal frameworks, deeper collaborations, and inclusive capacity building across sectors.
The event further reinforces IHS Nigeria’s position as a leader in corporate sustainability and innovation in Nigeria.
“At IHS Nigeria, we recognize that true progress happens when sustainability is not an obligation, but a culture, lived every day, across every unit,” Titilope Oguntuga added.
Through initiatives like this dialogue, IHS Nigeria and its partners continue to champion solutions that protect the planet, empower people, and ensure long-term business viability.
L-R Nyang Madeleine Gomez, Leader of Gambia Central Bank delegation, Dr. Usman Jankara, NAICOM Deputy Commissioner, Technical, Drammeh Alieu, Mr. Ekerete Ola Gam-Ikon, Deputy Commissioner Finance and Administration
The National Insurance Commission (NAICOM) on Monday, June 23, 2025, welcomed a high-powered delegation from the Central Bank of The Gambia, led by Mr. Nyang Medeleine Gomez, on a strategic working visit aimed at fostering regulatory collaboration and exchanging knowledge in key areas of insurance supervision.
The primary focus of the visit was to study Nigeria’s regulatory approach in three critical areas:
*Risk-Based Supervision
*Prudential Frameworks
*Inclusive Insurance
Receiving the delegation on behalf of the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, the Deputy Commissioner for Technical, Dr. Usman Jankara, alongside the Deputy Commissioner, Finance and Administration, Mr. Ekerete Ola Gam-Ikon expressed NAICOM’s readiness for collaboration and mutual learning. He described the engagement as a “knowledge-sharing visit,” noting that “no one regulator has all the answers,” and emphasized the importance of peer-to-peer learning in enhancing regulatory capacity across Africa.
In his remarks, Mr. Gomez explained that the visit was intended to:
* Understanding NAICOM’s implementation of a risk-based supervisory system to ensure a stable and resilient insurance sector
* Exploring strategies for expanding insurance access to underserved and low-income populations through inclusive insurance frameworks; and
* Learn best practices in prudential regulation to safeguard policyholders’ interests and uphold public confidence in the insurance market.
In a detailed response, Dr. Jankara reaffirmed NAICOM’s commitment to supporting the Gambian delegation across all areas of interest. He emphasized that Nigeria’s regulatory framework has evolved significantly, especially in corporate governance, where the Commission has moved from basic compliance to robust enforcement mechanisms. He further noted that the newly passed Insurance Regulatory Bill, once it receives presidential assent, will contribute meaningfully to the current administration’s goal of achieving a one-trillion-dollar economy.
Dr. Jankara also highlighted NAICOM’s progress in promoting financial inclusion, citing the successful licensing of 15 microinsurance companies and 6 Takaful insurance providers, milestones that reflect growing insurance penetration. He assured the visiting delegation that NAICOM would share its operational templates and regulatory manuals through the appropriate directorates, while continuing engagement with key departments, including Inspectorate, Supervision, and Innovation & Regulation.
Leading financial institution, Fidelity Bank Plc has reaffirmed its commitment to corporate social responsibility with the donation of food and essential items to the Old People’s Home in Yaba, Lagos.
The donation was made possible through the generosity of the bank’s Nexus Inductees Class, under its Corporate Social Responsibility initiative known as the Fidelity Helping Hands Programme (FHHP).
Through the FHHP, staff across Fidelity Bank branches nationwide identify crucial interventions needed in their immediate community and raise funds to execute them. The bank’s management then matches this contribution with an equal amount and disburses it for the selected project.
Commenting on the donation, Divisional Head, Brand and Communications, Fidelity Bank Plc, Dr Meksley Nwagboh, emphasized the bank’s unwavering commitment to impacting its host communities positively noting that the community is an essential part of the bank success story.
“Today’s donation is a token of our appreciation for our incredible parents and guardians who have raised outstanding individuals that trust us with their banking needs. Our donation to the Old People’s Home reflects our deep commitment to supporting the well-being and dignity of our senior citizens. We are honored to contribute to a cause that ensures they receive the care, comfort, and respect they deserve.” Nwagboh stated.
Appreciating the gesture from the bank, the Director-in-Charge of the Home in Yaba, Adetutu Ipaye, said “Community support initiatives such as this from Fidelity Bank is vital to sustaining our mission and enhancing the quality of life for the elderly. We urge other organizations to follow in the Bank’s footsteps as this kind of support will go a long way to ensure that the elderly live with dignity and comfort”.
One of the beneficiaries from the home, Mr. Kamoru Adeyetu noted that, “Your presence today has brought us immense joy, and our greatest happiness lies in seeing the younger generation thrive. Beyond the gifts, your visit means the world to us and please remember to visit us regularly.”
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.
