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Prof. Bart Nnaji To Chair 2025 Oriental News Nigeria Summit

As Nigeria continues to promote energy efficiency with natural gas as key driver to achieve her energy transition goals, key stakeholders in the sector would be discussing prospects of the country’s huge gas resources in actualizing set targets.
Other key agencies of government have also signified their acceptance to participate in the 2025 Oriental News Nigeria national conference where the Nigerian Liquified Natural Gas Limited (NLNG) as keynote speaker at the conference would highlight benefits of gas as the country’s transition energy source.
The conference will be chaired by former Power Minister and chairman of the indigenous power company, Geometric Power Limited (GPL).
STANMEG Communications, publishers of Oriental News Nigeria Online, one of Nigeria’s most influential Online platforms confirms NLNG as keynote speaker at its 2025 National Conference on Sustaining Gas Utilization Towards Achieving Nigeria’s Energy Security.
The main Theme of the conference is “Integrating Nigeria’s Gas Potentials Into Strategic Energy Transition Initiatives”
The conference is also focusing on key Sub Themes, which include
…..Enhancing Energy Security And Efficiency Through Effective Gas Utilization
……Evaluating Regulatory Frameworks for Sustainable CNG Adoption in Nigeria’s Transportation Industry
………. Building Local Content Synergy’ between the Insurance Industry and Oil and Gas Sector.
The event holds on 24th July, 2025 at Radisson Blu,  GRA Ikeja Lagos at 9am.
Meeting Nigeria’s domestic energy needs remains one of the most significant challenges to sustainable development and economic growth. Only half of Nigeria’s 200 million citizens currently have access to energy, and with the population set to double by 2050 universal access is a huge challenge.
Nigeria has proposed to ramp up gas production, utilization and export, with the aims of supporting industrialization, boosting domestic energy supply (for power, cooking and transport), and increasing government revenues.
Whether ramping up gas utilization is feasible, or indeed the appropriate approach to achieving Nigeria’s energy supply and economic ambitions, is uncertain.
Every year Oriental News Nigeria, undoubtedly one of Nigeria’s most influential and reliable news channels brings stakeholders together to discuss pivotal topics around the economy.
Being the 4th in the series, the 2025 Oriental News Nigeria conference is bringing key industry figures, experts and policy analysts to evaluate various aspects of natural gas initiatives put together to drive the national economy.
Government is quite aware that what is certain is that global pressure to transition away to cleaner energies and defund fossil fuel projects complicates the process of realizing that goal and could lead to wasted investments that jeopardize the economic and energy security of Nigerians in the future.
But weak legal and regulatory frameworks, big infrastructure gaps, a non-cost-reflective pricing regime and host community conflicts have made the domestic gas sector uncompetitive and unattractive to investors. This, in turn, has left gas reserves underexploited, especially more expensive non-associated gas which represents half of Nigeria’s reserves.
Implementation of reforms by successive governments through the 2008 Gas Master Plan the (GMP), the 2017 National Gas Policy (NGP) and other instruments have proven slow. With the passage of the Petroleum Industry Act 2021, the legal, fiscal and regulatory framework of the gas sector has been strengthened with the creation of dedicated regulators, a dedicated minister, provision of third party access to infrastructure, and other improvements. But many gaps remain.
Thus the Decade of Gas Policy launched in 2021 to address the limitations to achieving domestic gas-based industrialization and economic prosperity, and reduce energy poverty, faces greater challenges.
Also, as a response to the high cost of petrol and the attendant rise in the cost of transportation, following the removal of fuel subsidy, President Bola Tinubu launched the Presidential CNG Initiative to provide a cheaper and cleaner energy source for Nigerians.
It is based on the above initiatives and pace setting policies that we have developed a theme and sub-themes to examine and evaluate those policies by key government agencies, including key stakeholders in the industry.
Apart from examining the role of gas initiatives boosting power sector growth, the sub-themes is evaluating the Compressed Natural Gas (CNG) as preferred fuel for the transport industry.
Road transport is the dominant mode of transportation in Nigeria, moving over 90% of internal goods and passengers across the country; hence it is the highest contributor to the nation’s GDP amongst other sub-sectors.
However, from all we could glean, road transport is predominant in the Nigerian transport sector. This entails an excessive use of internal combustion engine vehicles (ICEs), hence, an immense contribution to CO2 emission through the combustion of petroleum-based products like PMS, AGO and ATK; relatively small amounts of methane (CH4) and nitrous oxide (N2O) are emitted during fuel combustion, though.
The National Automotive Design and Development Council (NADDC) has revealed that Nigeria boasts of an estimated 11 million vehicles traversing its roads.
Globally, the transport sector is a major source of CO2 pollution in the atmosphere, with a global contribution of about 7.3 billion metric tons of carbon dioxide emission in 2020. About 20% of the global CO2 emission is contributed by Surface transport.
We reviewed the various sub-sectors of the Nigerian transport sector with their corresponding energy consumption rates. Results show that all the sub-sectors are solely dependent on fossil fuels to meet their energy demands and requirements, thus making the transport sector the highest consumer of fossil fuels, and consequently, the highest contributor to carbon footprint.
This necessitates the need for gradual decarbonisation of the sector, but not at the expense of the nation’s economy, since the transport sector contributes about 3% of the nation’s GDP.
During the conference there will be Panel Discussions on the following sub themes
1. Adaptation of Renewable Energy Policy and Gas Utilization Strategies In Power Generation Sector
2. Evaluating Decade of Gas Policy and Broad Spectrum of Gas Utilization Strategies
3. Reinforcing CNG, LPG Strategies in Addressing Emissions and Climate Impacts of Fossil Fuel Use in the Transport Industry.
  4. Building Local Content Synergy’ between the Insurance Industry and Oil and Gas Sector.
The conference promises to be highly interactive and with such great collaboration and shared commitment of stakeholders the outcome will not only achieve the country’s objectives but also set a precedent for other nations to follow.
Yemisi Izuora
Publisher/Editor
Oriental News Nigeria
Nigerian Undergraduates Dream Big In Shell Intern Scheme

By Amaka Obiefuna

The latest batch of undergraduates from Nigerian universities have commenced their Student Industrial Work Experience Scheme (SIWES) with Shell Nigeria Exploration and Production Company Limited (SNEPCo,) using the opportunity to acquire practical knowledge and skills in the oil and gas industry.

 

The 28 interns drawn from 17 universities, will serve for six months and gain valuable insights on the operations of a company which pioneered the development of a new generation of Nigerian professionals in the deep-water sector when it started production at Bonga in 2005.

 

“We’re pleased to continue with efforts to grow indigenous talent in deep-water oil and gas operations through the work placement programme,” said SNEPCo Managing Director, Ronald Adams. “The programme offers exciting opportunities for young talents to grow their potentials in the oil and gas industry”

 

The interns, some of whom are also recipients of the Nigerian National Petroleum Company Limited, NNPC-SNEPCo scholarship programmes, have been speaking about their hopes and ambitions in the scheme.

 

A resident of Maiduguri and student of Mechanical Engineering at the University of Maiduguri, Ayuba Haruna, who was displaced by the security crisis in the Northeast, won the NNPC-SNEPCo scholarship award in 2023, and is now an intern. He said: “NNPC-SNEPCo’s investment in education and young Nigerians like me has not only changed my life — it has given me purpose, direction, and a chance to build a better future.”

 

“I’m stepping into this role ready to learn, contribute, and be part of something truly bigger than myself,” said Kester Chukwumezie, a student of Electronic and Computer Engineering at Nnamdi Azikiwe University.

 

Two interns, Miss Ulan Andrew and Joseph Agom have been beneficiaries of the NNPC-SNEPCo National Cradle to Career and university scholarships. Miss Andrew, who is studying Chemical Engineering at the University of Ilorin, described the internship as “truly a dream come true and the opportunity of a lifetime.” Joseph, a student of Mechatronics Engineering at the University of Port Harcourt, said: I’m deeply grateful to be a product of Shell’s long-term investment in education, and now part of the next generation learning from the very best.”

 

Another intern, Miss Oluwehinmi Oluwayemisi, a student of Industrial Mathematics/Computer Science at Covenant University, Ota, Ogun State, expressed gratitude for the “amazing opportunities” offered by the scheme.  

 

The Student Industrial Work Experience Scheme is just one aspect of the investments in education by NNPC SNEPCo and Co-venturers, which include scholarship awards and donation of Information Communication and Technology (ICT) facilities to tertiary institutions.

Over 600 undergraduates have benefitted from the NNPC-SNEPCo National University Scholarship Award since its inception in 2016, while 32 ICT projects have been donated to secondary schools and universities around the country since 2007.

Lagos Govt Seeks Stronger Parental Involvement in Children’s Financial Literacy as Zedcrest Launches New Books  

By Fidelia Okafor
L-R: Executive Director, Zedcrest Wealth, Abass Akinsanya; Head, Brands and Communications, Zedcrest Group, Oyinkansola Adeboye; Lagos State Commissioner for Basic and Secondary Education, Hon. Jamiu Tolani Alli-Balogun and Director, MacTay Consulting, Tunde Rotimi
The Lagos State Government has called on parents across the state to collaborate with teachers and other key stakeholders to ensure that their children excel not only in core subjects but also in financial literacy.
The State Commissioner for Basic and Secondary Education, Hon. Jamiu Tolani Alli-Balogun, made this call while receiving a delegation from leading financial services company, Zedcrest Group, on a courtesy visit to his office.
According to him, the state government has been intentional about integrating financial literacy into the curriculum for students in both private and public schools, urging parents to complement these efforts by taking advantage of every opportunity to teach their children valuable money management lessons.
Hon. Alli-Balogun also emphasized that care is being taken to ensure students’ learning materials reflect and celebrate diversity, promote and preserve indigenous cultures, and prioritize localized learning for greater relatability and improved learning outcomes.
Earlier, Zedcrest Group Managing Director, Adedayo Amzat, represented by the Executive Director, Sales and Business Development at Zedcrest Wealth, Abass Akinsanya, stated that the delegation was at the commissioner’s office to officially present the company’s latest initiative; two interactive financial literacy books for children aged seven and under.
Akinsanya explained that Zedcrest Group launched the books in line with its mission to improve economic outcomes by promoting financial literacy across all segments of society. He added that building a more financially inclusive society begins with educating the next generation of responsible adults, and with the launch of these financial literacy books, Zedcrest is already leading the charge.
Zedcrest’s Head of Brands and Communications, Oyinkansola Adeboye, while presenting the books to the commissioner, disclosed that plans are underway to distribute them nationwide. She mentioned that Zedcrest will leverage its existing partnership with MacTay, a key stakeholder in the state government’s “Adopt a School” program, to ensure that pupils in public primary schools across the state can access the books through the organisation’s not-for-profit arm, MacTay Foundation. Adeboye then thanked the commissioner for the warm reception and for sharing valuable insights on the current state of financial education in Nigeria.
Zedcrest Group had unveiled the two educational books, “The A-Z of Finance Colouring Book” and “Zedcrest Little Heroes: A Financial Literacy Journal for Kids”, at a book reading and launch event held in commemoration of International Children’s Day 2025.
Coronation Life Assurance Limited To Host Webinar On Protecting Loved Ones Through Life Insurance

By Amaka Obiefuna

In many homes today, being financially responsible for others is the norm, not the exception. From paying hospital bills to sending younger ones to school many people are carrying more than just our own weight, and we do it graciously.

But what happens when life throws an unexpected curveball?

On Thursday, June 26th, 2025, Coronation Life Assurance Ltd. invites you to a pertinentwebinar titled: “The Burden We Share: Protecting Loved Ones with Life Insurance”

Time: 10:00 AM – 12:00 Noon
Platform: Zoom (Free Registration)

Register Here: https://bit.ly/MediaHousesWebinar

This conversation is for anyone who has ever been the ‘go-to’ person in their family, the solution provider when there’s an emergency or a need. It’s for breadwinners, caregivers, young professionals, and even retirees who want to look out for those they love.

Why You Should Join:

• This webinar will speak on real challenges: the black tax, medical emergencies, unexpected loss, and financial pressure.

• Our expert panel will break down how life insurance can help lighten the load, protect the people you love, and give you peace of mind.

• You’ll learn how to make smarter choices today that secure your tomorrow – with products designed for different life stages.

This is not just a financial conversation. It’s a cultural one.

So, whether you’re a young professional, a parent, a business owner, or somewhere in-between, this webinar is for you.

What to Expect

• Real-life accounts of families protected—and those blindsided—by financial shocks.

• Industry professionals break down the myths, facts, and real value of life insurance.

• A discussion rooted in our shared experiences – like “black tax” and multigenerational support.

• Clear, affordable steps to get started with Coronation Life Assurance’s range of products.

Register Here: https://bit.ly/MediaHousesWebinar

You don’t have to carry it all alone.
Join us and find out how Coronation Life Assurance can help ease the burden.

NAICOM, OHCSF Host Capacity Building Workshop On Group Life Assurance Policy

From left: Mr. Salami Rasaaq (Director, HR and Admin NAICOM), Mr. Ekerete Ola Gam-Ikon (Dep. Commissioner for Insurance, Finance and Admin), Mrs. Oyekunle Patience (Permanent Secretary OHCSF) and Mr. Abubakar Maijama’a (Director, Insurance OHCSF).

The National Insurance Commission (NAICOM) and the Office of the Head of the Civil Service of the Federation (OHCSF) successfully organized a capacity-building workshop on Group Life Assurance Policy in Abuja. The event brought together stakeholders from government ministries, departments, and agencies to enhance understanding and implementation of the policy.

 

In her opening remarks, Mrs. Didi Esther Walson-Jack, Head of the Civil Service of the Federation, represented by Mrs. Oyekunle Patience, emphasized the importance of insurance in safeguarding public servants’ welfare and ensuring financial security for their families. She commended President Bola Tinubu for renewing the annuity policy and applauded NAICOM for initiating the training.

 

The Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, represented by Mr. Ekerete Ola Gam-Ikon, Deputy Commissioner for Finance and Administration, expressed appreciation for the collaboration and assured participants of NAICOM’s commitment to transparency and accountability in policy implementation.

 

The workshop aimed to equip civil servants with knowledge and tools to effectively manage and benefit from the Group Life Assurance Policy, a critical component of the Federal Government’s welfare package. The event marked a significant step in strengthening life insurance policy implementation across the federal civil service, reinforcing the government’s dedication to employee well-being.

Staff Welfare, Training And Business Development Is The Heart Of My Administration – FAAN MD

By Fidelia Okafor
The Managing Director and Chief Executive of the Federal Airports Authority of Nigeria (FAAN), Mrs. Olubunmi Kuku, has called on aviation stakeholders to prioritise investment in project development to enhance bankability and attract investors. She emphasised the importance of conducting market studies, feasibility assessments, and developing strong business cases to ensure sustainable growth in the sector.
Mrs. Kuku made this appeal on Monday, 16 June 2025, during her opening address at the ongoing Biennial FAAN Joint Trade Unions Conference 2025, held at the Abdurahaman Danbazau Conference Centre (COCOS Hotel), Correctional Services, Bill Clinton Drive, Airport Road, Abuja.
Mrs Kuku emphasised the crucial role of cargo operations in the sector’s future, noting that investment requires clear returns supported by comprehensive data. She pointed out that while FAAN has established the Directorate of Cargo Development and Services, additional support and data-driven studies are necessary to secure investor confidence.
Speaking on staff welfare, Mrs Kuku reaffirmed FAAN’s commitment to improving working conditions, stating that the newly negotiated conditions of service—developed with union participation—are set for submission to the Ministry of Aviation and Aerospace Development. She also highlighted ongoing efforts to reassess staff training and international travel budgets for more inclusive coverage.
Addressing concerns about medical facilities, Mrs Kuku acknowledged the need to improve on what is currently available. She revealed that FAAN is reviewing partnership opportunities to enhance healthcare access for employees. Additionally, she mentioned plans to procure operational vehicles for airports and renovate staff quarters to improve living conditions.
In discussing airport management, she stressed the importance of Key Performance Indicators (KPIs) to ensure efficiency and accountability among airport managers and department heads.
Mrs Kuku expressed gratitude to the aviation unions—NUATE, ATSSSAN, and ANAP—for their cooperation and urged delegates to use the conference to strategise effectively for the sector’s advancement.
“This conference serves as a pivotal platform to address our concerns. By championing just culture, which emphasises fairness and accountability in safety practices, and just transition, which supports equitable shifts toward sustainable aviation, stakeholders can collectively drive meaningful change,” she stated.
Reaffirming FAAN’s commitment to dialogue and staff welfare, Mrs Kuku assured the unions that management remains open to constructive engagement, honest dialogue, and practical solutions to workplace challenges.
“I urge you, dear union delegates, to utilise this conference to strategise with foresight, engage with purpose, and emerge with resolutions that reflect both the aspirations of your members and the realities of our shared environment. Let us work together to protect jobs, enhance conditions of service, and strengthen the sector, not through conflict, but through cooperation,” she concluded.
Moniepoint Demonstrates Commitment to Nurturing Africa’s Future Leaders

Moniepoint Inc, one of Africa’s leading financial institutions partnered with the Mega Impact Foundation to support the 5th edition of the NextGen Connect Interschool Oratory Competition in Asaba, Delta state. This collaboration showcases Moniepoint’s unwavering commitment to youth empowerment and human capital development across the African continent.
The competition, which was held commemoratively to celebrate this year’s International Day of the Boy Child, brought together SS2 students from across Delta State to address the critical theme: “The Role of Financial Inclusion and Technology in Shaping a Brighter Future for Young People in Africa.” Moniepont has received critical acclaim over its core mission of advancing financial inclusion through innovative digital financial technology solutions and payment services..
The oratory competition showcased exceptional talent among Nigeria’s youth, with Otovo Praise of Crystalloid International School emerging as the champion. His outstanding performance earned him a full-year scholarship through the Tosin Eniolorunda STEM Foundation, reflecting Moniepoint’s philosophy of investing in educational excellence. Second-place winner Audi Innocent of St Patrick’s College received ₦300,000, while third-place winner, Asher David of Glorious Kids Academy was awarded ₦200,000.
“At Moniepoint, we believe that driving sustainable innovation begins with future-proofing and expanding the talent pool by empowering the next generation with the tools that they need to succeed especially basic literacy skills which remain fundamental pillars in socio-economic development,” said Tosin Eniolorunda, CEO Moniepoint Inc.  “These young voices represent the future of African leadership, and their insights into financial inclusion and technology demonstrate the remarkable potential that exists within our communities. Through our various educational and developmental initiatives such as the CAD/CAM lab we donated to OAU last year or the Moniepoint DreamDevs programme, we are betting big on an investment in Africa’s future.”
The initiative extends beyond monetary rewards, creating meaningful platforms for young people to express their ideas on a global stage. Through its support of the NextGen Connect Conference and Tech-In-School conversations, Moniepoint is fostering an environment where youth can develop critical thinking skills, build confidence, and engage with pressing societal issues.
In her remarks, Founder, Mega Impact Foundation, Florence Ogonegbu said that “we reaffirm our commitment to building an Africa where every young person has simplified access to sustainable education, capacity building, and empowerment. By leveraging technology and local initiatives, we are creating platforms that enable our youth to thrive and transform their communities. Together with partners like Moniepoint, we are not just shaping futures—we are driving a movement for social development that will resonate globally. Every boy, every young person, deserves the opportunity to unlock their full potential and drive lasting impact across our continent.”
The competition received additional support from the Ministry of Women Affairs and Social Development, Delta State, highlighting the collaborative approach required to nurture young talent effectively.
NAMA Conducts Aircraft Emergency Table Top Exercise In Lagos

By Fidelia Okafor

The Nigerian Airspace Management Agency (NAMA) on Tuesday conducted an Aircraft Emergency Table Top Exercise to enlighten aviation stakeholders on how to manage aircraft emergencies and disasters.

The Exercise which took place at the Murtala Muhammed International Airport (MMIA) Conferences center brought key stakeholders in emergency management and Search and Rescue Units drawn from all the aviation agencies.

Nigeria Customs Service (NCS), Nigeria Immigration Service (NIS), Department of State Security (DSS), Federal Road Safety Corps (FRSC), Federal Fire Service (FFS), National Emergency Management Agency (NEMA), Lagos State Emergency Management (LASEMA), Airline Operators of Nigeria (AON), Lagos State Ambulance Services (LASANBUS), Nigerian Police Force (NPF), etc.

L-R : Representative of the Nigeria Civil Aviation Authority Authority (NCAA), Alhaji Safo Baba Jiya, Head of Search and Rescue Unit, National Emergency Management Agency (NEMA), Lagos Operations Office), Mrs. Ibitayo Adenike, Regional General Manager, South West, FAAN, Mr Olatokunbo Arewa, Search Mission Coordinator, MMIA, Igberaese David and an official of the Lagos State Emergency Management Agency (LASEMA), Engr Jamin Olayinka Salami during the Aircraft Emergency Table Top Excercise conducted by NAMA on Tuesday at the MMIA, Lagos.

Declaring the exercise open, the Director of Air Traffic Services (ATS) at the Nigerian Airspace Management Agency (NAMA) John Tayo urged all stakeholders who attended to take the exercise seriously.Tayo equally urged the media to take the exercise serious and report it widely, pointing out that other agencies had done similar exercise but was not adequately captured in the media space.

Emphasizing that Search and Rescue (SAR) is everybody’s business, he said, “This morning, we are going to combine two things. To get fruitful result, we want to separate stakeholders meeting and the aircraft emergency Exercise”.

The Director, who was represented by the General Manager, SAR, NAMA, Mr. Sunday Iwalaiye streamlined the Emergency Table Top Exercise into two sessions: “Search and Rescue Units and Responsibilities” and “Arrangement Into Groups of Search And Rescue Units According To Their Responsibilities” said

“We cannot start the exercise without knowing clearly the responsibilities of each agency. Any Search and Rescue involving an aircraft is aeronautical emergency”.

“This is a thing we should all support. Although, no one want emergencies to happen but it does happen. I want all stakeholders to take notes to what so as to know what to do when emergencies occur”, Arewa added.

Alhaji Safo Baba Jiya, a representative of the Nigeria Civil Aviation Authority (NCAA) also commended the coordinators.

Jiwa, who dwelt elaborately on the importance of safety said, “Safety is paramount for us at NCAA. We are here to learn. Let us be mindful on what we are doing here today”.

In his remark, Quality Assurance Manager (QAM) , MMIA, Onohwoakpo Chris said that, although, many stakeholders don’t want emergency situations but that, “”We gathered here to learn on what we don’t ever want to happen in aviation”.

Head of Search and Rescue Unit, National Emergency Management Agency (NEMA, Lagos Operations Office), Mrs. Ibitayo Adenike equally commended the exercise.

Ibitayo said, “Last disaster in global aviation wasn’t expected. We have representatives of practically all airlines. I appreciate the efforts put in this exercise. Let us put our minds together to synergise and identify areas of shortcomings and make progress so that whenever we there is an emergency, we will do the right thing”.

To Engr Jamin Olayinka Salami of the Lagos State Emergency Management Agency (LASEMA), he was very pleased with the exercise as it is something that stakeholders need to be doing often.

Salami, however, insisted that, what most importantly is how do we prevent disasters. It will help us to prepare more for eventually.

Explaining the essence of the exercise, Search Mission Coordinator, MMIA, Igberaese David who coordinated the exercise said that NAMA have been they conducting joint operation with National Emergency Management Agency (NEMA) NIMASA, they decided to come together for a better performance when incidence occurs.

Igberaese said, “The goal is rescuing the greatest number of people in the shortest possible time.

According to the International Civil Aviation Organisation (ICAO), 24 hour watch must be provided in the Search and Rescue operations”.

“Search and Rescue is everybody is everybody business because when it occurs in remote areas, the farmers eventually become the first responders.”, Igberaese added.

High point of the event was the activation of Search and Rescue scenario which was terminated after some minutes of demonstrations before debriefing of the exercise.

Fidelity Bank Distributes Food Packs To 1,500 Mokwa Residents Affected By Flood

L-R: Branch Leader, Minna, Fidelity Bank Plc, Mustapha Abubakar; Her Excellency, First Lady of Niger State, Hajiya Fatima Umaru Bago; and the CEO, ABBASID (a Fidelity Food Bank partner), Hajiya Hauwa Abbas; at the Fidelity Food Bank Distribution in Mokwa, Niger State recently.

In a swift response to the recent flood that tragically displaced many families in Mokwa, Niger State, Fidelity Bank Plc has donated food packs to over 1,500 affected residents through its Food Bank Initiative.

 

The Fidelity Food Bank Initiative is a humanitarian outreach designed to help vulnerable communities across Nigeria. Through partnerships and collaboration with its branches and stakeholders, the bank delivers food packs to those in need, helping to ease hunger and provide hope during difficult times.

 

Commenting on the donation, the Divisional Head, Brand and Communications at Fidelity Bank, Dr. Meksley Nwagboh, said: “At Fidelity Bank, we believe corporate citizenship means standing by communities in their greatest time of need. We are honored to support the people of Mokwa through the Fidelity Food Bank Initiative. This is more than just a relief effort — it’s a affirmation of our promise to always be there for the people and communities we serve, especially in challenging moments.”

 

He added: “This donation reflects our collective responsibility to respond with compassion and urgency. The people of Mokwa are not alone — we share in their struggles, and we will continue to support them as they rebuild their lives.”

 

The distribution event was well attended by government officials from Niger State, led by the First Lady, Hajiya Fatima Umaru Bago. Also present were the Secretary to the State Government, Alhaji Abubakar Usman Gawu; Chief of Staff to the Governor, Alhaji Usman Abdullahi Gbatamangi; and the Deputy Chief of Staff, Alhaji Yusuf Sadiq. Other members of the delegation included the Commissioner for Budget & Planning, Alhaji Mustapha Ndajiwo; Commissioner for Education, Hajiya Hannatu Jibril; and the Commissioner for Humanitarian Affairs, represented by the Permanent Secretary, Hajiya Barrister Mairo Mamman Mann.

 

The Commissioner of Information, Hajiya Binta Mamman, and Alhaji Ayuba Usman Katako, representing the Association of Local Governments of Nigeria (ALGON) in Niger State, alongside various Local Government Chairmen, were also present to show their solidarity with Mokwa and its people.

 

The Fidelity Food Bank donation in Mokwa follows similar initiatives in areas affected by disasters. The bank previously donated food and sanitary items to victims of a fire outbreak in Taraba State and provided cash and food to those affected by the Zaria Central Mosque collapse in 2023.

 

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: FIDELITY BANK PLC – STATEMENT ON CBN CIRCULAR ON FORBEARANCE LOANS

 

Fidelity Bank Plc (“the Bank”) refers to the recent circular issued by the Central Bank of Nigeria “CBN” (Reference No. BSD/DIR/CON/LAB/018/008) concerning regulatory forbearance on Single
Obligor Limit (SOL) and other credit facilities and wishes to provide the clarifications below to its esteemed shareholders, NGX Regulation Limited (NGX RegCo), and other stakeholders:

 

(a) As a responsible financial organization, Fidelity Bank Plc remains committed to ensuring compliance with regulatory policies and directives, including the CBN circular on forbearance which is aimed at strengthening capital buffers and enhancing financial prudence within the banking industry.

(b) In terms of Capital, the Bank successfully raised ₦273 billion through a recent Public Offer and Rights Issue which were oversubscribed by 237.92% and 137.73% respectively and intends to raise the additional sum of ₦200 billion through a Private Placement in 2025FY, to achieve the
new minimum regulatory capital requirement of ₦500 billion for banks with international
authorisation. The CBN and Shareholders’ approval have been obtained for the Private
Placement, while other regulatory approvals are being processed to ensure completion in 2025.

 

(c) The Bank’s exposure under the SOL forbearance relates to two obligors. We are confident that this exposure will be brought within the applicable regulatory limit in H1 2025.

 

(d) With respect to the forbearance granted on other credit facilities, the Bank confirms that this applies to four customers. We have proactively made substantial provisions on these facilities and have taken targeted and comprehensive steps to ensure full provisioning or return of the accounts to performing status by June 30, 2025.
Thus, the Bank expects to exit all CBN forbearance arrangements (SOL/Credit) and remains in a strong position to meet the prevailing requirements to enable it to pay dividends for the current financial year and subsequently.