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NGX Confirms No Insider Trading was Done By MD/CEO Of Fidelity Bank PLC

The Nigerian Exchange Group (NGX) has affirmed that the recent purchase of 18 million units of Fidelity Bank shares by its Managing Director/Chief Executive Officer, Dr. Nneka Onyeali-Ikpe, was conducted in full compliance with applicable regulations.

In a letter dated May 22, 2025, the regulator dismissed allegations of insider trading and the misuse of bank funds for the transaction stating “….Following the filing of the Bank’s 2025 Q1 UFS on 30 April 2025, the Directors and other insiders of the Bank became eligible to trade on the securities of the Bank after twenty-four (24) hours.

Therefore, the share purchase transaction referenced by Sahara Reporters which occurred on 19 May 2025 was transacted during an open trading window and NGX RegCo is not aware of any other price sensitive information that the Bank is required to disclose which should hinder trades on the securities of the Bank by insiders.”

 

Fidelity Bank has subsequently issued a statement addressing the accusations, categorizing them as false, misleading, and maliciously intended to tarnish the reputation of both the bank and its MD/CEO, as well as to mislead the investment community and the general public.

Signed by the bank’s Divisional Head of Brand and Communications, Dr Meksley Nwagboh, the statement clarified that Fidelity Bank was compelled to respond to the erroneous article published on May 21, 2025.

“As a publicly quoted company regulated by the NGX and subject to the Listing Rules of the NGX and the Securities and Exchange Commission (SEC) regulations, we unequivocally confirm that neither the Bank nor its MD/CEO has ever engaged in insider trading.”

Dr Nwagboh further emphasized that the MD/CEO personally funded the share purchase and did not utilize bank funds or take a loan for the transaction.

The statement reaffirmed that the transaction was conducted in strict adherence to the Listing Rules and insider trading regulations governing publicly traded companies.

Ike Neliaku Re-elected As NIPR President; Nwankwo And McMedal Join Council


L-R: Dr. Ike Neliaku, Comfort Nwankwo, and Olusegun McMedal

Dr. Ike Neliaku has been re-elected as the President and Chairman of the Council of the Nigerian Institute of Public Relations (NIPR), alongside Vice President Prof. Emmanuel S. Daudara from Nasarawa Chapter. They will steer the affairs of the council for the next two years, together with other new executives.

 

Neliaku, who is from the FCT Chapter, was re-elected at the 2025 Annual General Meeting (AGM) held in Uyo, Akwa Ibom State, tagged ‘Uyo 2025.’ This event was part of the annual Nigeria Public Relations Week (NPRW) 2025, held in Uyo. Former Chairman of the Lagos Chapter, Olusegun McMedal, and the current Chairman of the chapter, Comfort Nwankwo, were elected as Council members.

 

A total of 17 members were elected into the council through e-voting, which members praised as credible and demonstrative of the viability of e-voting in Nigeria.

 

The other newly elected council members include Mr. Akin Agbejule (Niger), Mrs. Olubunmi Adedoyin Badejo (FCT), Prof. Kate Azuka Omenugha (Anambra), Mallam Bashir Adamu Chedi, and Dr. Saudat Salah Abdubaqi (Kwara).

 

Additional new members are Comrade Ini Ememobong (Akwa Ibom), Malam Kabir Ali Kobir (Bauchi), Pastor Paulinus Enyidah Nsirim (Rivers), Prof. Sarah Benjamin Lwahas (Plateau), Mr. Adaramola Temitope (Ogun State), Dr. Adewale Oladipo Oyekanmi (Osun), Chief Patrick Ogoegbunem Uka (Delta), and Sajoh Ahmed Ibrahim (Adamawa).

 

Since Dr. Neliaku assumed office, NIPR has undergone several reforms. Recently, Nigeria secured the bid to host the 2026 World Public Relations Forum (WPRF).

 

The NPRW 2025 edition, themed “Solid Minerals: A Solid Path to Nigeria’s Sustainable Economic Recovery – The Challenge for Public Relations,” brought together PR professionals, policymakers, and other stakeholders. The event was held at Ceedapeg Hotels, Uyo, from May 19–24, 2025.

NUC Grants Full Accreditation To 18 Academic Programmes At Ekiti State University

Ekiti State University (EKSU), Ado-Ekiti, has recorded another major academic milestone with the full accreditation of 18 academic programmes by the National Universities Commission (NUC), following its October/November 2024 accreditation exercise.

 

The confirmation of the accreditation was conveyed in a letter dated April 30, 2025, and signed by Engineer Abraham Chundusu, Acting Director of Accreditation, on behalf of the Executive Secretary of the NUC. The letter was addressed to the Vice Chancellor of Ekiti State University.

 

The newly accredited programmes cut across six faculties, reaffirming EKSU’s commitment to academic excellence and its strategic focus on expanding access to quality education in critical fields. The accredited programmes include:

 

Faculty of Administration

•     M.Sc. Business Administration

•     Master of Personnel Management

•     M.Sc. Finance

•     Master of Public Administration

•     Master of Business Administration

 

Faculty of Arts

•     Arabic Studies

•     Islamic Studies

•     Philosophy

 

Faculty of Education

•     Building and Woodwork Technology Education

•     Electrical and Electronic Technology Education

•     Metal and Auto Mechanic Technology Education

•     Education Christian Religious Studies

 

Faculty of Engineering

•     Civil Engineering

•     Electrical and Electronic Engineering

•     Computer Engineering

 

Faculty of Law

•     Law

 

Faculty of Sciences

•     Geology

 

Faculty of Social Sciences

•     Psychology

 

Reacting to the development, the Vice Chancellor of Ekiti State University, Professor Joseph Babatola Ayodele, described the full accreditation as “a dream come true” and a testament to the tireless efforts of the university’s academic and administrative staff.

 

“This achievement underscores our continued commitment to delivering globally competitive education and producing graduates who are equipped to solve contemporary challenges,” Prof. Ayodele said. “We are more prepared than ever to meet the educational needs of Nigerian youth in relevant and future-facing disciplines.”

 

He further attributed the success to the unwavering support of the university’s leadership, expressing deep appreciation to the Governor of Ekiti State and Visitor to the University, His Excellency, Biodun Abayomi Oyebanji, who is also an alumnus; the Chancellor, Dr. Tunji Olowolafe; and the Pro-Chancellor and Chairman of Governing Council, Professor Akin Oyebode, for their pivotal roles in the advancement of EKSU.

 

This development comes on the heels of EKSU’s recognition as the best state university in Nigeria, as ranked by Times Higher Education 2025, cementing its reputation as a centre of academic distinction.

 

When Legacy Meets Preparedness — Olusegun Alebiosu As CEO , FirstBank Group


What happens when legacy meets preparedness? What results from such a combination? Let us not be in a hurry to put forward any answers yet. Instead, let us consider first the opposite situation: When legacy meets unpreparedness.

The world abounds in examples of this distressing situation. A dynasty that has built wealth from generation to generation, with its illustrious heirs providing generational leadership, finds itself in a strange phase where an ill-prepared heir takes over the reins and in that same generation, not the next, wipes out the entire family fortune built over several generations.

We see the same thing with nations. History is replete with examples of great nations built by great leaders, which slid into oblivion when they were hit by arguably the greatest misfortune that ever befalls humanity – bad leadership. It is the reason American author and leadership expert John Maxwell asserts, “Everything rises and falls with leadership.”

As with nations, so with organisations. We see organisations that have thrived for decades and over several generations, get a new leader who is not prepared for such leadership, and the leader pushes the organisation to the brink of collapse.

Contrast this picture with the situation at Nigeria’s most enduring corporate organisation with the most amazing legacies of firsts, First Bank of Nigeria Limited, which witnessed a leadership transition about a year ago. Faced with a number of quality options in and outside the then management team, the decision-makers at the bank and its parent company FBNHoldings, now First HoldCo Plc, had to be clear-minded about who could become the new Chief Executive Officer of FirstBank Group.

Equally important as the need for continuity was the non-negotiable requirement for capacity to manage the ship of the 130-years-plus institution to sustain its enviable legacies and consolidate the gains made in recent years. The search was for someone with a steady head and hands (talk of risk control and mitigation), in addition to an excellent track record of sterling performance and achievements.

Fortunately, fate was on their side. They did not have to look outside. Right there before them was someone who understood all kinds of risks and how to control and mitigate them. He had been with FirstBank since 2016 when he joined as Group Executive / Chief Risk Officer. Then in January 2022 he was elevated to Executive Director / Chief Risk Officer and Executive Compliance Officer.

This man has given nearly three decades of his working life to the banking and financial services industry. He has under his belt a rich tapestry of cross-functional experience in credit risk management, financial planning and control, credit and marketing, and trade. His cross-functional exposure also includes corporate and commercial banking, agriculture financing, oil and gas, transportation, including aviation and shipping, and project financing

Meet Olusegun Alebiosu, the man history had prepared and the one decision-makers chose among the quality options. He was appointed substantive Chief Executive Officer of FirstBank Group in June 2024, having acted in that capacity since April 2024 when the former CEO left.

Determined to build on the bank’s legacies while navigating the ever-changing landscape of the financial services industry, Alebiosu has shown unwavering commitment to lead the bank through a transformative period that places emphasis on strategic consolidation, technological advancement and market expansion.

Alebiosu’s approach to sustaining the legacies of firsts at FirstBank, which has been at the vanguard of accelerating Nigeria’s digital payments as the first bank to issue over 13 million cards to customers, draws from his vast professional experience which began with Oceanic Bank Plc, now Ecobank Plc, in 1991. Between then and joining FirstBank in 2016, he had worked at Coronation Merchant Bank as Chief Risk Officer, at African Development Bank Group as Chief Credit Risk Officer and at United Bank for Africa as Group Head, Credit Policy and Deputy Chief Credit Risk Officer.

Under one year of his appointment as substantive CEO of FirstBank, Alebiosu’s strategic consolidation efforts have demonstrated that he is a worthy successor, not an ill-prepared or unprepared one, proving the decision-makers right. Understanding the critical role of its human capital in sustaining the bank’s legacies, Alebiosu has invested himself and the bank’s resources in promoting staff welfare.

A comprehensive review of the bank’s compensation structure was undertaken to position it within the 75th percentile of the industry, making the bank more retentive of, and attractive to, the best talents. The highest number of staff promotions across various grades in the last five years has happened under Alebiosu’s watch, with 1,654 employees being elevated in one single promotion cycle.

Under his leadership, over 2,186 new hires have been recruited across key functions and subsidiaries, with a large number of them deployed to the sales function to ensure that retail customers are adequately served. Staff are now more engaged based on the high employee engagement score of 86% achieved in the April 2025 WorkBuzz survey, indicating remarkable progress in the bank’s multi-pronged efforts to promote a positive and inclusive workplace culture.

This drive to reinforce a culture of inclusion and recognition has been accentuated by the launch of a group-wide culture transformation initiative with the goal of embedding the core values of integrity, excellence and innovation. It has also been strengthened by a renewed focus on inclusion, collaboration and high performance. Also contributing was the staging of a FirstBank Employee Appreciation Day 2025 featuring, among others, a personalised appreciation video message from the CEO to all employees across the group throughout Africa and beyond. The inclusion message is further boosted by the launch of the inaugural edition of the bank’s pioneering initiative, Mandarin Language School, to bolster the bank’s expansion in the Asian market.

Expansion is a critical plank in FirstBank’s new strategic planning horizon, under Alebiosu’s leadership. Taking off this 2025, the plan seeks to reinforce the bank’s market dominance across all operational regions and it includes deliberate expansion into new markets within and outside Africa.

Beyond geographical and horizontal expansion, Alebiosu’s plan has also targeted a skyward expansion. Or how else does one describe the groundbreaking ceremony in March 2025 for the bank’s new green-certified, 44-storey iconic head office building in Eko Atlantic City, Lagos State?

Alebiosu is also prioritising the acceleration of process automation in recognition of the importance of digital transformation. It is a massive push for technological advancement that includes adopting robotics technology and artificial intelligence at scale, to give the bank an unassailable competitive advantage among its peers in the industry.

The bank has deployed digital tools to enhance seamless account opening and optimised backend systems and customer service delivery. Two additional Digital Experience Centres (DXCs) have been launched – one at Lekki Admiralty Way, Lagos State and the other at its UNN branch, Nsukka, Enugu State. Also, the bank’s agent network has expanded to over 280,000, a 50,000 increase from the 230,000 agents it had in 2023.

As expected, shareholders, among other stakeholders, have been observing the strides the bank has been making under Alebiosu’s leadership, with a keen eye on the numbers. Fortunately, again, the bank’s results for the financial year ended December 2024 speak volumes, with after-tax profit of its parent company rising to the highest point it has reached in the last 12 years, according to the company’s latest financial statement.

In recognition of his achievements within such a short period and his exemplary leadership, Alebiosu was honoured at the World Business Outlook Awards as “Banking CEO of the Year – Nigeria 2025”. He has also been honoured with the “Special African Banking Leadership Award” by African Leadership Magazine. This was in 2024.

The story of Alebiosu’s leadership at FirstBank has clearly been one of preparedness meeting legacy. Working with the board and management team, he has consistently sustained the bank’s legacies and also consolidated its recent gains in ways that will ensure the gains keep compounding. FirstBank, more than ever before, is poised for greater intra- and intercontinental growth and impact in the years ahead.

Source: Aniekan Ezekiel

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

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.

NPRW  Highlights Nigeria’s Quest for Image Rebuilding , Global Recognition

Stakeholders in Nigeria’s public relations sector gathered at the opening ceremony of the Nigeria Public Relations Week (NPRW) 2025, organized by the Nigerian Institute of Public Relations (NIPR), to chart a new course for Nigeria’s image on both national and global stages. Under the theme “Solid Minerals: A Solid Path to Nigeria’s Sustainable Economic Recovery – The Challenge for Public Relations,” the event spotlighted strategies for enhancing Nigeria’s reputation amid ongoing economic reforms and international engagements.

*A New Dawn for Nigeria’s Global Image*

The event held in Uyo, featured significant announcements, including Nigeria’s upcoming hosting of the 2026 World Public Relations Forum (WPRF). President and Chairman of NIPR, Dr. Ike Neliaku, emphasized Nigeria’s readiness to showcase the country’s rich culture, vibrant music, exotic cuisine, and warm hospitality to the world. “At WPRF 2026, the world will savor Nigeria’s magnificent splendor, from our cuisine to our creativity,” he stated confidently. “Despite concerns about safety and tourism, Nigeria will present a compelling case for itself as a premier destination in Africa.”

Neliaku underscored the importance of proactive communication in shaping perceptions, sharing a recent experience where a simple question about Nigerian food became a metaphor for external perceptions. “The challenges of leadership in Nigeria are partly due to ineffective communication. Leaders need to share their visions openly and responsibly,” he said.

*Leadership and Rebranding through Strategic Appointments*

A major highlight was the installation of John Momoh, CEO of Channels Media Group, as the pioneer Chairman of the Nigeria Reputation Management Group (NRMG)’s Body of Advisers. This strategic initiative by NIPR is dedicated to building and maintaining a positive national image. “Every negative post or harsh comment erodes our image,” said Momoh. “Let us instead share stories of innovation, resilience, and excellence within our borders, promoting constructive narratives that rebuild trust and credibility.”

Other notable appointments include Bashir Adewale Adeniyi, the Comptroller General of Nigeria Customs Service, as Vice Chairman, and Mohammed Kudu Abubakar as Secretary. Dr. Momoh expressed gratitude for the trust placed in him and called on Nigerians to use social media responsibly, advocating for a united effort to reposition Nigeria’s narrative positively.

*Stakeholders Call for Positive Narratives and National Unity*

Throughout the event, government officials and industry leaders stressed the importance of positive storytelling. Deputy Governor of Akwa Ibom, Senator Akon Eyakenyi, highlighted how negative news hampers foreign investment. “Our state is safe, peaceful, and investment-friendly,” she affirmed, urging practitioners to leverage their expertise in fostering peace and promoting government initiatives.

The Minister of Information and National Orientation, Alhaji Muhammed Idris, echoed this sentiment. “We need to speak good about our country,” he urged. “Constructive criticism is welcome, but we must focus on promoting Nigeria’s positive stories. Only then can we accelerate development and restore our national pride.”

*A Collective Responsibility for Nigeria’s Future*

Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, called for unity among all stakeholders. “Reforms may take time, but they are underway,” he stated. “All of us—government, media, citizens—must work together to build a better Nigeria.”

The event also paid tribute to distinguished members of the profession with posthumous awards, honoring their contributions to nation-building and the public relations field.

*Conclusion: A Vision for a Resilient Nigeria*

Addressing the gathering, Dr. Ike Neliaku emphasized the vital role of public relations in nation-building. “Our collective narratives shape perceptions. Every Nigerian has a role in telling our story—of resilience, innovation, and hope,” he said.

As Nigeria prepares to host the 2026 WPRF and strengthen its reputation management infrastructure, the stakeholders’ rallying cry is clear: to build a positive, credible, and inspiring national image that resonates both within and beyond our borders.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Uyo’s NPRW 2025 Event Kicks Off With Over 1,000 Delegates In Attendance

The vibrant city of Uyo, Akwa Ibom State, is set to host more than 1,000 delegates from across Nigeria and beyond, as the Nigeria Public Relations Week (NPRW) 2025 officially kicks off on Monday, May 19, 2025.

Organized by the Nigerian Institute of Public Relations (NIPR), this year’s edition promises a dynamic and immersive five-day experience filled with knowledge sharing, strategic networking, and cultural celebration.

DAY 1 – Monday, May 19:
The week begins with the Public Relations Stakeholders’ Roundtable with Traditional Rulers, a strategic dialogue bridging culture and communication. This will be followed by the NPRW Undergraduates Forum, aimed at grooming the next generation of PR professionals.

Simultaneously, golf enthusiasts will gather for the NPRW Golf Kitty, adding a sporting flair to the day.

The evening will feature the Welcome Cocktail and Manifesto Night, where candidates for the NIPR Council election will engage delegates in an interactive forum.

DAY 2 – Tuesday, May 20:
The first full day of plenary and breakout sessions begins, featuring thought leaders and practitioners speaking on emerging trends and specialization in public relations.

A major highlight will be the Investiture of the Executive Governor of Akwa Ibom State as a Patron of NIPR, a recognition of his administration’s support for communication and development.

The day will conclude with “Ndia Ibom” , a Food and Drink Festival showcasing the rich culinary heritage of Akwa Ibom.

DAY 3 – Wednesday, May 21:

Sessions continue with more plenary and breakout tracks, diving deeper into critical sectors of PR including tech, health, security, governance, and integrated marketing.

The evening will celebrate local fashion and identity with the Ethnik Fashion Nite, spotlighting the state’s diverse fashion culture.

DAY 4 – Thursday, May 22:
The spotlight turns to the NIPR Annual General Meeting, including Council Elections to elect new national officers. The day will end on a high note with a Closing Gala/Happy Hour, offering delegates a chance to unwind and network in a relaxed setting.

DAY 5 – Friday, May 23:
Delegates will embark on a guided tour of Akwa Ibom, experiencing the state’s scenic beauty, tourism, and cultural attractions.

The conference’s keynote address will be delivered by renowned tax expert, Prof. Taiwo Oyedele, during the opening plenary.
Over the course of the week, sessions will be led by top communication scholars, consultants, and corporate leaders, including Prof. Emmanuel Dandaura, fnipr; Mr. Yakubu Lamai, mnipr; Dr. Omoniyi Ibietan, fnipr; Mr. Ali-Balogun, fnipr; Ms. Tolulope Olorundero, mnipr; Barr. Chimdi Neliaku, mnipr; Maryam Sanusi, fnipr; Dr. Abdullahi Maiwada, mnipr; Dr. Adewale Oyekomi, mnipr; Prof. Saudat Abdul-Baqi, fnipr; Adetokunbo Modupe, mnipr; Dr. Monday Ashibogwu, fnipr; Mr. O’tega Ogra; Mr. Segun McMedal, mnipr; and Prof. Iyorza Stalinus, anipr.

According to Mr. Yomi Badejo-Okusanya, fnipr, Chairman of the NPRW 2025 National Planning Committee, “This year’s NPRW promises to be a convergence of ideas, people, and opportunities for our profession. From the roundtables to the cultural showcases, we are celebrating the essence and future of PR in Nigeria.”

In a dynamic and often unpredictable financial landscape like Nigeria, the ability to access funds at critical moments makes all the difference.  For entrepreneurs, financial agility is often the key to unlocking growth and success. With fluctuating prices and unexpected financial policies, many businesses in recent times have found themselves in need of short-term financial solutions to keep their business running smoothly.

Recognising this challenge, First Bank of Nigeria Limited, a pioneer in innovative financial solutions, redesigned the Retail Temporary Overdraft (RTOD) as a lifeline to empower businesses with swift, flexible cash flow support that can significantly empower business owners, allowing them to navigate the complexities of business management with greater ease.

The Retail Temporary Overdraft (RTOD) is aimed at providing customers with flexible temporary overdraft to meet urgent business financial needs.  The features of RTOD include:

  • Access up to N5million monthly subject to 10% of 6 months credit turnover from sales
  • Interest rate is competitive and subject to changes in money market realities
  • No tangible collateral is required
  • Facility tenor is 30 days, and this can be accessed up to 12 times in one year.

The benefits of this Facility include assistance in growing business volumes which position SMEs for higher facility limits. It is useful in emergency situations to meet urgent business needs. No tangible collateral is required to get the loan, and it is available throughout the year once the existing facility is repaid within 30 days.  The interest rate is cheaper due to the shorter facility tenor.

SMEs with regular cash flow who have maintained an account with FirstBank for a minimum period of six [6] months or 12 months in any other commercial bank are eligible for this facility. The amount drawable on this facility is N5million monthly, subject to 10% of the customers’ last 6 months credit turnover. Repayment is automatically deducted from (Sales or business proceeds) incoming receivables into borrower’s account within the stipulated time. To apply, customers need to show interest by contacting the FirstBank SME advisor or apply online by submitting the required documents. Approval could be as fast as 24 hours in cases where the customer fulfills all criteria.

To ensure that customers can maximise given opportunities and enjoy maximum turnover, the loan figure is N5 million globally for qualified customers who show a good track record of prompt repayment and also meet the stipulated criteria.

There are many customers who have been able to turn their businesses around with the help of this facility, such as Mr. Isola, the prime mover of Champion Five Limited, a food retail vendor who approached FirstBank for funding to augment his working capital and increase production.

 

The bank provided a N5million overdraft facility with a 30-day tenure which was made available to him for 12 months.  With the funding, Champion Five Limited was able to increase production by 50% and expand their customer base as well as employ more staff. The company has continued to grow in leaps and bounds.

FirstBank’s Retail Temporary Overdraft product has been so impactful to the businesses of both male and female entrepreneurs.

This contributed to the bank’s achievements, where it was honored with two highly prestigious awards at the Asian Banker Excellence in Retail Financial Services International Awards 2024. The awards, presented by The Asian Banker, crowned FirstBank as both the Best SME Bank in Nigeria and the Best SME Bank in Africa, a testament to the institution’s commitment to empowering Small and Medium Enterprises (SMEs) and driving retail financial excellence across the continent.

The Asian Banker awards are widely recognized as one of the most competitive and rigorous in the global banking industry. The evaluation process is stringent, focusing on various key performance indicators, including service delivery, customer experience, financial performance, and innovation in retail banking.

With an extensive panel of experts examining each institution’s track record, FirstBank’s recognition as the leading SME Bank in both Nigeria and Africa signals its outstanding leadership and vision in the African financial industry.

As the backbone of the Nigerian and African economies, SMEs play a crucial role in driving employment, innovation, and economic growth.

However, they often face significant hurdles, especially in securing adequate financial support. This is where FirstBank steps in, not just as a traditional banking partner, but as an enabler and advocate for the sector.

With its range of SME-focused financial products, from deposit products, loan packages to tailored advisory services, FirstBank has distinguished itself as a leader in providing SMEs the resources they need to thrive.

The bank’s FirstSME initiative is designed to support businesses in accessing capital, managing cash flow, and navigating the complexities of business development in a competitive market. This commitment is what earned FirstBank top recognition at the Asian Banker awards.

Source: Tosin Ajayi

NGX Chairman Alhaji Umaru Kwairanga To Head Supernews Conference On June 19

The  Chairman,  the Nigerian Exchange (NGX) Group is the Chairman of the SUPERNEWS Nigeria Annual Conference scheduled to hold on June 19th  2025  at Oriental Hotel, 3 Lekki Road, Victoria Island, Lagos at 10am.

The conference with theme, Power Of AI: Enhancing Efficiency And Customer Satisfaction For Better Financial Services Experience will have the Managing Director of Cowry Asset Management Limited, Mr Johnson Chukwu as its keynote speaker.

The Commissioner for Insurance, the National Insurance Commission (NAICOM), Mr Olusegun Ayo Omosehin and the Director-General, National Pension Commission (PenCom), Mrs Omolola Oloworaran will be Special guests of honour at the event.

Alhaji Umaru Kwairanga is an experienced investment professional with almost two decades of experience at the highest levels of the Capital Market, Banking and the Real Sector.

He possesses first and post graduate degrees in business administration, corporate governance and finance respectively.

He has also attended courses and training programs in fields relating to finance, investment and money market in reputable institutions including the Harvard Business School, New York Institute of Finance and the Wharton Business School.

Alhaji Kwairanga has professional certifications of the Chartered Institute of Stockbrokers (CIS) and the Certified Pension Institute of Nigeria and he is a member of the Abuja Commodities & Securities Exchange.

Alhaji Kwairanga has been Managing Director of a top notch stock broking firms for over a decade and a director in several blue chip organizations.

He is currently the Chairman of Ashaka Cement PLC, a prominent cement manufacturer in the North East of Nigeria and a quoted company on The Nigerian Exchange.

Alhaji Umaru Kwairanga as the Chairman of Ashaka Cement PLC, greatly improved the performance of the company and ensured that Gombe State Government and other local governments in Nigeria generated significant revenue from Ashaka Cement PLC through prompt payment of taxes and other statutory obligations.

The company has also been diligent in fulfilling its corporate social responsibility and maintaining excellent relations with its various stakeholders.

Alhaji Kwairanga is also the Group Managing Director/Chief Executive Officer of Finmal Finance Services Ltd, Director, Jaiz Bank PLC, Director, Central Securities Clearing System PLC, Chairman, Penman PFA Ltd and President, Certified Pension Institute of Nigeria.

He is a member of the Presidential Advisory Council on Industrial Relation, a Fellow of the Chartered Institute of Stockbrokers and a Fellow of the Certified Pension Institute of Nigeria.

According to the convener, SUPERNEWS Nigeria Publisher, Ngozi Onyeakusi, the choice of  Alhaji (Dr) Kwairanga as the Chairman of the conference is as result of his vast knowledge and  wealth of experience in the financial services sector.

The conference will equally feature a panel session which will include renowned experts like the  Founder/CEO, ZER Consultating Africa, Mrs Adeolu Adewumi-Zer, the Fmr. Managing Director, Hilal Takaful Insurance Limited, Mrs Thaibat Adeniran, the National President, Bank Customers Association of Nigeria (BCAN) Dr Uju Ogubunka and the Head Financial Institutions Ratings, Augusto & Co, Mr Ayokunle Olubunmi.

The  epoch making event will be bringing together other regulators, key stakeholders in the financial services, ICT sector, informal sector and small business owners.

Commenting on the theme of the conference, Onyeakusi said Artificial Intelligence (AI) adoption has the capacity to transform the Nigerian financial services  sector.

AI technology, according to experts, has gained so much popularity in businesses that analysts put global business value earned through artificial intelligence at $3.9 trillion in 2022, from $1.2 trillion in 2018.

 

The technology is believed to be capable of facilitating financial inclusion, thus bridging the gap between the masses and financial services, helping to bring these services closer to the people seamlessly.

AI offers an unprecedented opportunity to reach more customers, reduce operational costs, and enhance customer experience.

This confab is a learning opportunity designed to enhance awareness, deepen understanding of participants on the imperative and use  of AI in rendering banking, capital market, pension and insurance services, better, cheaper, faster and conveniently.

PenCom Highlights Strategy To Double Pension Contributors By 2027

… Aims At 20M Against 10m

Amaka Obiefuna

 

The National Pension Commission (PenCom) has mapped out strategies to double Pension Contributors from the already attained 10.65 million to 20 million by the end of year 2027.

 

 

 

The Director General of PenCom, Ms. Omolola Oloworaran, announcing this on Saturday at the Pension Industry Leaders’ Retreat in Lagos said the commission plans to meet the target through the expansion of Personal Pension Plan (PPP) formerly known as MIcro Pension Plan (MPP), engagements with stakeholders, and enforcement of pension compliance certificates, especially by state governments amongst other initiatives.

 

 

 

Noting that pension growth is essential for economic growth and development, she said the industry expects a 50 per cent growth in this regard and disclosed that as at February 28, 2025 the pension fund assets was N23.27 trillion and Retirement Savings Account (RSA) holders 10.65 million.

 

 

 

According to Oloworaran the retreat has provided opportunities for the industry to adopt new strategies, while also stating that the resolutions reached will be fully implemented before the end of first quarter 2026.