Amaka Obiefuna

Tier one Lender, Fidelity Bank Plc, has announced its readiness to begin the disbursement of funds under the National Credit Guarantee Company (NCGC) N5 billion Credit Intervention Scheme. The initiative is designed to expand access to finance for Micro, Small and Medium Enterprises (MSMEs), as well as businesses owned by women and youths across Nigeria.

This was disclosed by the Managing Director/Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, during the signing of a Memorandum of Understanding (MoU) between the bank and NCGC.

According to Dr. Onyeali-Ikpe, the partnership with NCGC represents a significant step in the bank’s ongoing efforts to enhance financial inclusion and stimulate economic growth through increased access to credit. “This guarantee will enable us to further expand financing opportunities for those who need it most, while strengthening our capacity to support businesses across key sectors of the Nigerian economy,” she said.

The facility will cover critical sectors including food processing, secondary agriculture (such as fish and poultry processing), fashion, green energy, light manufacturing, the agricultural value chain (feed mills and equipment fabrication), export-oriented businesses, and education.

Dr. Onyeali-Ikpe highlighted that Fidelity Bank has consistently supported diverse sectors through targeted initiatives such as the Green Energy Financing Programme for renewable energy entrepreneurs, the Fidelity SME Hub for small businesses with a special arm – Creativerse, dedicated to the creative industry and the Fidelity Bank Education Support Scheme which provides affordable financing for educational infrastructure and technology upgrades.

“With the backing of the NCGC credit guarantee, we can now extend financing to businesses that have traditionally been excluded from formal credit systems—without compromising our risk standards or operational efficiency,” she added. “While we have supported MSMEs with short-term facilities in the past, this partnership allows us to provide long-term credit facilities that empower businesses to expand sustainably.”

Over the past five years, Fidelity Bank has disbursed over N500 billion in loans to MSMEs, empowering thousands of entrepreneurs and creating sustainable livelihoods.

Also speaking at the event, Managing Director of NCGC, Mr. Bonaventure Okhaimo, emphasized that the organization was established to bridge the financing gap faced by MSMEs in Nigeria by mitigating lender risks through credit guarantees.

“Although MSMEs are key contributors to Nigeria’s economic development, many of them struggle to secure funding from financial institutions due to perceived high risks,” he said. “Through the credit guarantee scheme, NCGC shares this risk with banks, making it easier for MSMEs to access much-needed capital.”

Mr. Okhaimo added that NCGC and Fidelity Bank will also collaborate to provide financial literacy and business management training to MSME beneficiaries, ensuring they have the knowledge and skills to effectively manage their loans and achieve sustainable growth.

The Fidelity Bank–NCGC partnership reinforces both institutions shared commitment to fostering entrepreneurship, strengthening MSMEs, and driving inclusive economic development across Nigeria.

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.

…Plans Conference To Unlock Ethical Financing For Nigeria’s Prosperity




Amaka Obiefuna

The Securities and Exchange Commission (SEC) has disclosed that Nigeria’s non-interest capital market has grown significantly, reaching a valuation of over ₦1.6tn, a milestone it says signals growing investor confidence and deepening participation in ethical finance.


The Director-General of the SEC, Dr. Emomotimi Agama, announced this on Monday during a joint press briefing in Abuja ahead of the 7th African International Conference on Islamic Finance (AICIF), scheduled to hold in Lagos on November 4 and 5, 2025.


The conference, jointly organized by the SEC, the Metropolitan Law Firm, and Metropolitan Skills Ltd., is themed “Africa Emerging: A Prosperous and Inclusive Outlook.”


It aims to promote ethical financing as a viable tool for building a resilient and inclusive African economy.


Agama described the upcoming conference as “strategically positioned” to coincide with the conclusion of the Revised Nigerian Capital Market Masterplan (2021–2025), adding that it would serve as a platform for charting the next phase of sustainable financial development across the continent.


“This year’s theme is a call to action, it’s about harnessing ethical finance as a tool to build a more prosperous and equitable Africa,” he said.


According to him, the Nigerian non-interest market has shown remarkable momentum, with Sukuk dominating the sector.


He revealed that the last Sukuk issuance was oversubscribed by over 700 percent, underscoring the growing investor appetite for non-interest products and confidence in the regulatory framework.


“The non-interest capital market has attained a valuation of ₦1.6tn. The overwhelming subscription to our Sukuk issuances demonstrates strong investor confidence and an expanding demand for ethical financial instruments,” Agama said.


He explained that the enactment of the Investments and Securities Act (ISA) 2025 provides a strengthened legal foundation for non-interest financial products, empowering the SEC to register non-interest collective investment schemes and broaden the range of instruments available to investors.


“The new Act is a game-changer,” he noted. “It modernizes our regulatory framework, enhances transparency, and gives investors the confidence needed to engage more deeply with ethical finance.”


Agama stated that the AICIF will feature high-level discussions on unlocking capital for Africa’s infrastructure, green and ethical investments, agricultural financing, and the role of fintech in transforming Islamic finance.


The sessions, he said, are designed to produce practical solutions to some of the continent’s most pressing development challenges.


“This is not just another conference. It is a problem-solving platform that will deliver actionable strategies to drive new investment flows and inform future regulatory policy,” he emphasized.


The SEC boss added that the conference will bring together regulators, senior financial executives, scholars, and representatives of development finance institutions to collaborate on innovative policy frameworks.


According to him, promoting financial inclusion will be a key focus area, ensuring that ethical finance becomes a driver of prosperity for individuals and businesses alike.


“The insights generated will help shape the next phase of our capital market’s growth, ensuring it remains a strong engine for Nigeria’s economic development,” he said.


Agama underscored that the AICIF aligns with the government’s broader agenda of promoting sustainability, inclusivity, and transparency in the financial system.


He described ethical finance as a critical component of Nigeria’s long-term economic transformation plan, capable of funding infrastructure, empowering communities, and stimulating small and medium-scale enterprises.


“The 7th AICIF is a premier forum dedicated to advancing non-interest and ethical finance across Africa. It represents a shared commitment to building a financial ecosystem that is prosperous, inclusive, and sustainable,” he said.


He urged stakeholders and the media to actively participate in the Lagos conference, describing it as “a defining moment for Nigeria’s financial sector and a blueprint for Africa’s economic rebirth.”


Also speaking, Ummahani Amin, Managing Partner, Metropolitan Law Firm & Chairman, AICIF 2025 Planning Committee said that AICIF has grown into one of the most important gatherings for policymakers, regulators, investors, scholars, and innovators who share a common goal to advance ethical, inclusive, and sustainable finance in Africa.


She said, “This year, we are especially proud of our strategic partnership with the Securities and Exchange Commission (SEC), Nigeria’s highest regulator in the capital market. This collaboration underscores our shared vision to strengthen the Islamic finance ecosystem, deepen investor confidence, and support innovation that aligns with integrity and shared prosperity.


“This year’s conference comes at a critical time — as Africa continues to explore innovative, ethical, and sustainable pathways to finance development.”


She said Islamic finance has proven to be one of the fastest-growing segments of the global financial system, and AICIF provides a unique platform to bring together policymakers, regulators, scholars, investors, and practitioners to shape that future here on the continent.


Beyond the conference sessions, Amin said the partners will also be celebrating excellence and innovation through its Awards Night, as well as unveiling the winners of the AICIF Pitch Competition, a platform designed to spotlight young entrepreneurs and innovative ideas that can shape the future of Islamic finance in Africa.

Amaka Obiefuna

Tier One Lender, Fidelity Bank Plc, has commenced the disbursement of the Federal Government of Nigeria’s (FGN) MSME Intervention Funds, administered by the Bank of Industry (BOI), to qualified SMES with a strategic focus on empowering women-owned businesses across the country.

The FGN MSME Intervention Fund is designed to provide accessible financing to micro, small, and medium enterprises (MSMEs) across all 36 states of the federation.

The intervention aligns with Fidelity Bank’s commitment to inclusive economic growth and its long-standing support for Nigeria’s SME sector. In this phase of the disbursement, the bank is prioritizing women entrepreneurs, reinforcing its belief in the catalytic role of women-led enterprises in driving sustainable development and job creation.

Speaking on the development, Osita Ede, Divisional Head, Product Development at Fidelity Bank Plc, said, “As a bank deeply committed to the growth of SMEs, we are proud to partner with the Federal Government and the Bank of Industry on this critical intervention. For this phase, we are placing women at the forefront because we recognize their resilience, innovation, and pivotal contributions to wealth creation and employment generation in Nigeria.”

Fidelity Bank has also put in place a robust structure to ensure seamless onboarding and fund disbursement. Leveraging its nationwide branch network, digital banking platforms, and experienced relationship managers, the bank is poised to reach and support entrepreneurs across urban and rural communities.

The bank’s emergence as a critical player in the disbursement of the FGN MSME intervention Fund strongly aligns with its ongoing initiatives as the leading supporter of SMEs in Nigeria. Recently, the Fidelity SME Empowerment Programme (FSEP) was launched at its Gbagada SME Hub in Lagos.

This flagship initiative provided 100 growth-ready SMEs with ERPRev-enabled POS systems, business software, receipt printers, barcode scanners, inventory support, bookkeeping and branding training, three-day masterclasses, and six months of post-installation monitoring—all at no cost.
Earlier in May 2025, Fidelity Bank also signed an MoU with SMEDAN, Nigeria’s Small and Medium Enterprises Development Agency, to deliver SME-friendly low-interest financing, capacity-building support, and market access for SMEs referred under the agreement.

“Our vision goes beyond financing. We are building an ecosystem of support for SMEs by offering capacity-building programs, mentorship opportunities, and market access. Women entrepreneurs, in particular, will benefit from a larger share of the fund as part of our broader strategy to promote gender inclusion,”Ede added.

The FGN MSME Intervention Fund will further advance the bank’s commitment to empowering small and medium-sized enterprises by expanding access to affordable financing and strategic support. Through this fund, Fidelity Bank aims to deepen its impact on Nigeria’s MSME ecosystem, fostering sustainable growth, job creation, and economic resilience across the country.

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

Amaka Obiefuna

Polaris Bank has reaffirmed its unwavering commitment to deepen delivery of exceptional customer experiences as it joins institutions across the world to celebrate 2025 Customer Service Week, themed “Mission: Possible.”

The annual global event, which runs from today Monday, October 6 to Friday, October 10, is dedicated to recognising the vital role of customer service professionals and the value they bring to customers and businesses alike.

Speaking to customers and staff, the Managing Director/CEO of Polaris Bank, Kayode Lawal, emphasised that excellent service remains central to the Bank’s culture and success. He noted that while great service can sometimes seem like a challenge, it is always worth the effort.

According to him, Polaris Bank’s approach to service is anchored on consistency, thoughtfulness, and excellence, ensuring that customers experience genuine care and responsiveness in every interaction. Lawal expressed appreciation to customers for their trust and feedback, describing them as the reason Polaris Bank continues to push boundaries and innovate.

He reaffirmed Polaris Bank’s commitment to stand by its customers and deliver the kind of service they truly deserve every step of the way.

Throughout the week, Polaris Bank will host a variety of engaging activities across its branches and digital platforms to appreciate customers and recognise service champions within the Bank. These will include staff recognition events, customer appreciation sessions, and internal learning engagements aimed at deepening service excellence.

Customer Service Week is celebrated globally in the first full week of October to honour the importance of service excellence and the professionals who make it possible. For Polaris Bank, it represents yet another opportunity to celebrate its people and customers, while reinforcing that with dedication and teamwork, great service is always a Mission Possible.

Amaka Obiefuna

Union Bank of Nigeria held its first-ever Stay Recharged Health Walk, a dynamic event that affirmed the Bank’s steadfast commitment to employee well-being and sustainable workplace development.

The walk kicked off at the Stallion Plaza, Union Bank’s Head Office in Marina. It concluded at the Bank’s Sports Complex, The Stable, on Bode Thomas Street, Surulere, tracing an energising 7.5km route through Lagos’ vibrant streets. The overwhelming participation and enthusiasm from employees from diverse departments and locations made it a celebration of physical fitness, mental health, and the power of community spirit.

Stay Recharged is a featured event drawn from a cornerstone of Union Bank’s employee value proposition: employee wellness, thoughtfully crafted to foster a culture where health, happiness, and productivity flourish. The initiative responds directly to the urgent need for purposeful wellness programmes that nurture both physical and mental health at work. It reflects the Bank’s recognition that employee wellbeing is fundamental to sustained productivity, engagement, and organisational excellence.

Omayuli Wale-Ajayi, Chief Talent Officer, emphasised the significance of this milestone event:
“At Union Bank, well-being is not an afterthought; it is part of how we work. Our inaugural Stay Recharged Health Walk reflects our commitment to building a culture where our people are energised, supported, and thriving. When we take care of ourselves, we build stronger teams and stronger institutions.”

The Stay Recharged Health Walk aligns with the United Nations Sustainable Development Goals, specifically SDG 3: Good Health and Well-being and SDG 8: Decent Work and Economic Growth. This initiative reflects Union Bank’s commitment to fostering a workplace culture that prioritises employee wellness, supports decent and productive work, and contributes to long-term organisational sustainability.

By investing in these wellness experiences, Union Bank not only strengthens its internal community but also reinforces its reputation as an employer of choice.

Union Bank remains dedicated to developing innovative, health-focused programmes that inspire employees to adopt healthier lifestyles, supporting long-term growth for both individuals and the organisation.

The Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has urged West African countries to accelerate the integration of their capital markets, describing it as the only way to mobilise the scale of investment needed to drive the region’s development.

Speaking at the Experts Meeting on Validation of the WASRA Charter and Recognition of WASRA as the Regulatory Body for Cross-Border Securities Market in ECOWAS, held Thursday in Abuja, Agama who is also the WASRA Chairman,  said the initiative represents “a watershed moment” in the region’s financial history.

According to him, West Africa faces urgent developmental challenges ranging from infrastructure deficits and climate adaptation to digital transformation and job creation.

He said: “To meet these challenges, we require capital at scale, and the truth is simple: no single national market can provide it alone. An integrated regional capital market is no longer a luxury; it is a necessity”.

The SEC boss lamented the slow pace of regional integration, warning that “each year of delay is a lost opportunity to mobilise resources for critical projects that can transform our economies.”

He pointed to Africa’s annual infrastructure financing gap of over $100 billion, stressing that West Africa alone requires tens of billions of dollars to modernise transport corridors, upgrade energy systems, and build resilient digital infrastructure.

“Without integrated markets that pool liquidity and broaden investor participation, our governments and private sector will remain constrained, relying on limited fiscal space and expensive borrowing,” Agama said.

Drawing lessons from global models, he noted that the European Union and ASEAN achieved significant economic transformation by harmonising rules, fostering investor confidence, and facilitating seamless cross-border funding.

“The creation of a single market enabled European firms to access funding seamlessly across borders, boosting innovation and competitiveness. Closer to home, ASEAN coordinated standards and deepened financial cooperation, strengthening its resilience as a regional bloc.”

He emphasised that West Africa, with its population of more than 400 million and a combined GDP of about $800 billion, has even greater potential, cautioning that “potential means little without decisive action,” he cautioned.

Agama outlined how integration would bring benefits beyond infrastructure, noting that “In agriculture, integrated markets can mobilise capital for value-chain development, agro-processing, and food security, which are critical priorities for our region”.

He added: “In the digital economy, regional capital can support innovation hubs, fintech scale-ups, and broadband expansion, ensuring that West Africa fully participates in the fourth industrial revolution.”

He further stressed that cross-border pools of capital, backed by harmonised regulation, could deliver “transformative impact” across multiple sectors, including youth empowerment and job creation.

Presenting the objectives of the West Africa Securities Regulators Association (WASRA), Agama said the body was established with a clear mandate to anchor market integration.

“First, to contribute to the establishment of appropriate mechanisms for the regulation of capital markets; ensuring their proper functioning and the protection of investors. This speaks directly to the heart of investor confidence, without which no market can thrive,” he said.

He added that WASRA would foster integration through joint programmes and common projects, promote mutual assistance across the region, and set common standards for effective regulation. “Integration is not only about policy declarations; it is about practical collaboration and shared initiatives that deliver results for our markets and our people,” he stressed.

Agama called on policymakers, especially finance ministers within ECOWAS, to champion the WASRA initiative, stating that “The political will of our leaders is the single most important factor in moving from aspiration to reality”.

“WASRA stands ready, in partnership with ECOWAS, WACMIC, and WAMI, to provide the technical leadership required.”

Also speaking at the meeting, the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun noted that the gathering marked a significant step in the collective “journey toward a harmonized regulatory framework, one that reflects the shared aspirations of ECOWAS member states to deepen capital market integration, enhance cross-border investments, and promote financial stability.”

Edun, represented by
Mr. Hassan Adamu Jibrin Principal Economist Federal Ministry Of Finance, pointed out that validation of the draft WASRA Charter is not merely a procedural formality, but a critical foundation for institutional coherence, regulatory cooperation, and sustainable market development across our sub-region.

On his part while speaking on behalf of ECOWAS Commission, Mr. Peter Oluonye Acting Director Private Sector
noted that for capital markets integration to gain traction in ECOWAS, there need to be need concerted efforts of all stakeholders at harmonizing rules, practices and regulations, to the standards acceptable to all jurisdictions.


“We are well aware that our member states depend much on external capital flows and direct investment to sustain and deliver on economic development programmes of our governments. The region is in dire need to develop critical economic infrastructure projects, requiring huge capital investment and facilitate gross capital formation. The capital market is a major vehicle that should support this aspiration


“The need to drive our capital markets integration initiative to break down barriers to movement of capital within the region by ensuring a harmonized regulatory space, common market information platforms, interlinked trading systems, cross-border trade and payments settlement, harmonized accounting standards and internationally acceptable governance standards and institutions cannot be over-emphasized at this juncture in our economic integration initiatives”, he added.

The Director General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has urged Nigerians to take advantage of opportunities in the capital market to build personal and national financial independence as the country marked its 65th Independence Anniversary.

In a goodwill message titled “Forging a New Legacy of Financial Independence”, Agama described the capital market as a critical engine of economic empowerment, stressing that true independence goes beyond political sovereignty to include financial security for every Nigerian.

According to him, under the administration of President Bola Ahmed Tinubu and the guidance of the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, the capital market has been repositioned as a “public square of prosperity for all” rather than an exclusive preserve for a privileged few.

He listed ongoing reforms including the dematerialization of shares, increased retail investor participation, introduction of new asset classes, promotion of FinTech collaborations, and reduction in time-to-market for securities as part of efforts to deepen financial inclusion and democratize wealth creation.

Other initiatives, he noted, include international best practices in fund valuation, strengthening of corporate governance, promotion of financial literacy, and a sustained campaign against Ponzi schemes that continue to defraud unsuspecting Nigerians.

“These are not just regulatory updates; they are the building blocks of a financial democracy,” Agama stated, adding: “Every Nigerian—from the civil servant in Makurdi to the tech entrepreneur in Yaba, the farmer in Kano, and the fisherman in Yenagoa—can now have a stake in the commanding heights of our economy.”
The SEC boss emphasized that financial independence is central to dignity and prosperity, pointing out that the capital market provides a platform for Nigerians to transform savings into investments that fuel enterprise growth and national infrastructure.

“When you buy a share, you become a part-owner of a Nigerian company. When you invest in a bond, you are helping to fund the infrastructure that will power our future. This is the new face of patriotism,” he said.

Agama further called on citizens to prioritize financial literacy, embrace consistent investment, and adopt a long-term perspective in order to build sustainable wealth and support the nation’s economic transformation.

He described investment as a patriotic duty, stressing that widespread participation in the capital market will not only enhance personal financial security but also accelerate national development.

“As we celebrate 65 years of nationhood, let us embrace this powerful tool for wealth creation. The growth of our economy must mirror the growth of our citizens’ financial independence,” Agama said.