Nigerian Exchange Group (NGX Group) celebrated the extraordinary contributions of its retired directors, whose visionary leadership played a pivotal role in shaping the evolution of Nigeria’s capital market. The ceremony, held on Wednesday, April 9, 2025, followed the Group’s 64th Annual General Meeting (AGM) in Lagos, and brought together a distinguished gathering of regulatory leaders, government officials, traditional rulers, and members of the diplomatic community.

The event underscored NGX Group’s commitment to sustaining the legacy of innovation, operational excellence, and stakeholder engagement, principles championed by the honorees. Their foundational work continues to guide the Group’s mission to deliver long-term value and market growth.

In his opening remarks, Alhaji (Dr.) Umaru Kwairanga, Group Chairman of NGX Group, paid tribute to their enduring impact:

“Tonight, we honor the remarkable men and women whose leadership, dedication, and foresight have left an indelible mark on our Exchange and Nigeria’s financial markets. Their legacies remain ingrained in our DNA and will continue to inspire our path forward.”

Mr. Abayomi Oluyomi, Commissioner for Finance, Lagos State, representing Governor Babajide Sanwo-Olu, emphasized the honorees’ broader economic influence. “Their contributions extended beyond the Exchange, reinforcing Lagos’s position as Africa’s leading financial and economic hub.”

Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), acknowledged their transformative role. “These distinguished leaders laid the groundwork for today’s dynamic, transparent, and globally competitive capital market. Their governance standards and bold decisions remain benchmarks for excellence.”

Adding royal commendation, His Imperial Majesty, Ooni of Ife, Oba Adeyeye Enitan Ogunwusi, Ojaja II, praised their national impact. “As a custodian of tradition and progress, I celebrate these trailblazers whose wisdom and commitment have driven Nigeria’s economic advancement and inspired future generations.”

Mr. Aigboje Aig-Imoukhuede, CFR, Former President of The Nigerian Stock Exchange and Chairman of Access Holdings Plc, reflected on their legacy. “Capital markets are the backbone of thriving economies. The progress we see today stems directly from these directors’ vision, integrity, and leadership, which established enduring governance standards.”

A poignant moment came with a tribute to the late Bamofin Abimbola Ogunbanjo, OFR, former Group Chairman, whose leadership was instrumental in NGX’s demutualization and modernization. Other key figures, including Mr. Oscar N. Onyema, OON, former CEO of The Nigerian Stock Exchange and GMD/CEO of NGX Group, were also celebrated for steering the Exchange through landmark transformations.

Closing the event, Temi Popoola, Group Managing Director/CEO of NGX Group, remarked:

“Tonight, we honor not only the architects of our past but also the partners shaping our future. To our retired directors, your legacies ignite the aspirations of tomorrow’s leaders. Together, we will continue building a market that embodies Nigeria’s innovation, resilience, and strength.”

With decades of collective service, the retired directors have propelled NGX Group into a modern, technology-driven exchange. Their contributions have strengthened governance, elevated investor confidence, and enhanced Nigeria’s capital market on the global stage, laying a robust foundation for sustainable growth and investment across Africa.

As part of its Corporate Social Responsibility (CSR) initiatives, leading financial institution, Fidelity Bank Plc, recently donated food packs to Federal Capital Territory (FCT) Abuja residents.

Themed, the Fidelity Food Bank initiative, the outreach saw the bank’s officials distribute the food items to seven communities in the Mabushi district of the FCT.

Speaking at the distribution event, the Executive Director, North, Fidelity Bank Plc, Mr. Sufiyanu Garba, emphasized the bank’s commitment to community development and its alignment with Sustainable Development Goal 2, which seeks to eradicate hunger.

“This initiative stems from our deep-seated responsibility to support underserved communities and contribute to the fight against hunger in Nigeria,” said Mr. Garba. “At Fidelity Bank, we firmly believe that by addressing the root causes of poverty and hunger, we can make a meaningful impact on the lives of those in need. While we may not be able to solve all societal challenges, our contributions are making a difference, as evidenced by the positive feedback we continue to receive.”

He further reiterated the bank’s commitment to empowering communities, stating, “We recognize the importance of fostering growth and prosperity within the communities where we operate. By investing in their well-being, we contribute to the creation of a more sustainable and equitable society.”

The Fidelity Food Bank is one of the key pillars of the bank’s CSR strategy, focusing on health and social welfare. As a nationwide project, the initiative seeks to provide food relief to underserved communities across Nigeria, with a particular focus on supporting women and children.

Expressing appreciation for the initiative, the District Head of Mabushi Community, Mr. Hassan Danagna, commended Fidelity Bank for its generosity and its impact on the community.

“Fidelity Bank’s support to our community is unprecedented, and we are deeply grateful for this initiative, which provides relief to vulnerable households and less privileged families,” said Mr. Danagna. “Given the current economic challenges, this support is timely, particularly as we approach the holy month of Ramadan.”

One of the beneficiaries, Mr. Mukhtar Mohamed, also expressed his gratitude to the bank, acknowledging the significant impact of food distribution.

Fidelity Bank Plc is a full-fledged commercial bank with over 9.1 million customers who are serviced across its 251 business offices and various digital banking channels in Nigeria and the United Kingdom.

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.

In a landmark move that sets a new benchmark for customer-focused

banking in Nigeria, Sterling Bank has championed the cancellation of bank transfer fees by major banks, announcing it will no longer take any money for itself for any local online transactions by its customers.

The announcement, made on April 1st, initially sparked widespread arguments, with many

assuming it was a marketing prank tied to April Fools’ Day. However, Sterling has confirmed that this is no stunt: the zero-transfer-fee policy is real, and effective immediately.

With this move, Sterling becomes the first major Nigerian bank to take a definitive stand against the long-standing practice of charging customers for everyday digital transfers, an issue that has grown increasingly contentious as digital banking adoption deepens.

“We believe access to your own money shouldn’t come with a penalty,” said Obinna

Ukachukwu, Growth Executive leading the Consumer and Business Banking Directorate. “This is more than a financial decision, it’s a values-based one. It reflects our commitment to making banking fair, inclusive, and truly customer focused.”

“We’re not yet the biggest bank in Nigeria, but we’ve been the boldest,” Ukachukwu added. “Sterling fearlessly believes in the future of Nigeria, and this is us backing Nigerians with more than words.”

Under the new policy, Sterling customers will enjoy free transfers for all local transactions

conducted via the bank’s mobile app. This translates into significant savings, particularly for individuals and new small business owners who make frequent daily transfers.

This customer-first orientation is not new for Sterling. During the COVID-19 pandemic, the bank stood out by providing supplementary payments to healthcare workers in public hospitals—at a time when few others were willing or able to offer additional support. From that moment to now, Sterling has continued to redefine what it means to be a responsible and responsive institution.

The bank’s latest move has been met with widespread public approval, sparking positive

reactions across social media and placing pressure on industry peers to follow suit

We’re proud to lead this change,” Ukachukwu added. “We hope it inspires others to think

differently about what customers truly need from their banks, not just in services, but in values.”

Online communities were not excluded as WhatsApp Nigeria lit up with viral broadcasts as users forwarded the news across various groups, including one from a prayer circle that read: “Please my good people this is not a joke!!! Sterling Bank has just shocked Nigeria today o!! My neighbour Justina just transferred N100k and no charges!!! God bless Sterling Bank!!”. The message quickly gained traction, sparking massive public interest and mounting pressure on other banks to follow suit.

Sterling’s zero-fee policy is part of a broader strategy to transform the customer experience and deliver transparent, ethical banking solutions at scale.

About Sterling Bank

Sterling Bank is a full-service national commercial bank in Nigeria, focused on building a more equitable and sustainable future through its HEART strategy, targeting investments in Health, Education, Agriculture, Renewable Energy, and Transportation. With a growing reputation for innovation and customer advocacy, Sterling continues to lead with impact, empathy, and execution.