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The Mischief in Fidelity Bank Bankruptcy Rumour

By Ikechukwu Amaechi
Fidelity Bank Plc has dismissed as unfounded the story making the rounds that it is on the verge of bankruptcy following a Supreme Court judgment linked to a legacy $3 million credit facility granted by the defunct FSB International Bank in 2002.
The bank made the clarification on Monday, assuring the general public, depositors and stakeholders that it remains financially strong despite court judgment.
In a statement by its Divisional Head, Brand & Communications, Meksley Nwagboh, Fidelity Bank called for calm, stating that it was currently seeking judicial clarification on the accurate computation of the judgment sum.
“By way of a background, we confirm that the issues leading up to the judgment arose from a legacy transaction between the defunct FSB International Bank and Sagecom Concepts Limited,” the bank said.
According to the statement, FSB, a legacy bank taken over by Fidelity Bank, granted a credit facility to G. Cappa Plc in 2002 for the sum of $3 million. The facility was, in turn, secured with a mortgage on a property located in Ikoyi, Lagos.
However, when G. Cappa defaulted, the construction company quickly commenced legal proceedings against FSB at the Federal High Court, Lagos in a bid to prevent FSB from selling the mortgaged property to repay the loan.
Fidelity Bank’s press statement noted that the initial lawsuit was to restrain FSB from selling the property of the alleged loan defaulter.
The Federal High Court, in its judgment, ruled that the bank, as legal mortgagor, rightfully sold the leased interest in the property to Sagecom in 2011. The Court, however, declined to order vacant possession of the property and directed the issue to the Lagos State High Court.
In the meantime, G. Cappa remained in possession of the property and kept collecting rents.
Sagecom’s claim against the bank was essentially for liquidated damages. In 2018, the Lagos High Court awarded judgment in favour of Sagecom against G. Cappa even when it refused to order vacant possession of the property, a judgment which was challenged at the Supreme Court by Fidelity Bank for final adjudication.
But just like the High Court judgment, the Supreme Court ruled in favour of Sagecom.
Fidelity Bank said it was convinced that by remaining in possession of the property and continuing to collect rents, G. Cappa created the losses suffered by Sagecom.
However, the bank noted that after exhausting the appeal process, it is open to settling the obligation.
In fact, enquiries by TheNiche indicate that both Fidelity Bank and Sagecom are already in talks over how the judgment debt could be paid over a mutually agreed period.
It was this court ruling that detractors of the bank latched on in their demarketing voyage, which is what the bankruptcy story is all about.
And in debunking the bankruptcy insinuation, the bank assured depositors and investors of its safety as a going business concern, noting that it does not have solvency or liquidity problems.
The bank assured the public that, regardless of the Supreme Court judgment, Fidelity Bank was not under the threat of bankruptcy or liquidation.
But that fact is rather obvious. Fidelity Bank has consistently demonstrated strong financial performance, with significant growth in key financial metrics like profit before tax (PBT), gross earnings, and net interest income. The bank is also well-capitalized, maintaining a strong capital adequacy ratio (CAR) well above the minimum regulatory requirements, which is an indication of a robust financial foundation.
Not only that, it is also expanding its presence both within Nigeria and internationally, with a focus on digital banking and customer-centric services and the bank has received multiple awards, including for its performance in corporate banking, SMEs, and digital banking, highlighting its strength and leadership in the financial sector.
It is therefore not surprising that it has garnered very positive investor sentiment and consequential strong support, with oversubscription in equity capital raises and a high growth rate in share prices.
Not only that, the Central Bank of Nigeria (CBN) has weighed in on the matter, dismissing the bankruptcy story as misleading.
In a statement on Monday night, the apex bank and regulator said its attention had been drawn to some publications and social media reports containing “misleading information regarding the operations of a regulated financial institution.”
The statement by Mrs. Hakama Sidi Ali, Acting Director, Corporate Communications, affirmed that the CBN “continues to monitor all financial institutions under its regulatory purview and maintains robust frameworks for early warning signals and risk-based supervision. These mechanisms ensure that any emerging issues are promptly addressed to protect the integrity of the financial system.”
 The CBN urged the public to “disregard sensational or unverified claims and rely solely on official channels for information about the financial system.”
The statement titled, “CBN reassures public on banking sector stability,” reads:
“The attention of the Central Bank of Nigeria (CBN) has been drawn to certain publications and social media reports containing misleading information regarding the operations of a regulated financial institution.
“The CBN wishes to categorically reassure the public, depositors, and stakeholders that the Nigerian banking sector remains resilient, safe, and sound. Like all other regulated institutions, the institution referenced in these reports is held to stringent regulatory requirements and there is no cause for concern regarding the safety of depositors’ funds.
“The Bank affirms that it continues to monitor all financial institutions under its regulatory purview and maintains robust frameworks for early warning signals and risk-based supervision. These mechanisms ensure that any emerging issues are promptly addressed to protect the integrity of the financial system.
“We urge the public to disregard sensational or unverified claims and rely solely on official channels for information about the financial system.
“The CBN remains dedicated to fostering a secure banking environment where depositors can be fully confident in the safety of their funds. It will continue to monitor and adapt strategies to safeguard the financial interests of all Nigerians and stakeholders in our financial system.”
Some financial experts who spoke to TheNiche insist that the bankruptcy story was contrived in the warped minds of those who are unable to compete and are “unnerved by the unprecedented growth of Fidelity Bank particularly under the leadership of Nneka Onyeali-Ikpe.”
How can a bank, which is unarguably one of Nigeria’s leading Tier-1 financial institutions, a bank that has just announced a remarkable financial performance for the first quarter of 2025, recording a PBT of N105.8 billion, which represents an impressive growth of 167.8 per cent compared to N39.5 billion in Q1 2024, suddenly go bust,” asks Mr. Olamilekan Johnson, a financial expert.
“It is all an attempt by unscrupulous people to demarket the bank. This is not the first and I am afraid, it won’t be the last. But I hope that in the interest of the country’s financial sector, they stop.”
Johnson is right. In the wake of the revocation the banking licence of Heritage Bank Plc by the CBN on June 3, 2024, the same malicious campaign, an odious attempt to precipitate a run on Fidelity Bank, was mounted by unscrupulous people, who insinuated then, as they are doing now, that Fidelity Bank, Wema Bank, Polaris Bank and Unity Bank – will go the Heritage way.
That was one week after the bank signed the necessary documentation to raise about N127.1 billion from a public offer and rights issue to its existing shareholders to raise its capital base in line with the CBN’s fresh capitalisation directive.
Could it also be that this bankruptcy hoax is the panic reaction of the same naysayers who cannot relate positively to the robust fundamentals exemplified in the incredible performance of the bank as captured in its financial statements released late last month?
The bank’s unaudited financial statements, which was released on the Nigerian Exchange (NGX) on April 30, 2025, showed a substantial increase in gross earnings, which rose to N315.4 billion, marking a year-on-year growth of 64.2 per cent from N192.1 billion in the same period last year.
Growth in interest income was primarily led by 38.6 per cent yoy (7.4 per cent ytd) expansion in earning assets base, while the increase in non-interest revenue came from FX-related income, trade and commission on banking services, etc., supported by increased customer transactions.
Commenting on the bank’s performance, Dr. Nneka Onyeali-Ikpe, the Managing Director/Chief Executive Officer, stated: “We started the year with triple-digit growth in profit and sustained the momentum in our earning assets growth. This performance shows the resilience of our business model and reinforces our confidence in delivering a better result in the 2025 financial year.”
Other areas of the unaudited financial statements equally showed a marked improvement with total deposits growing by 11.1 per cent ytd to N6.6 trillion from N5.9 trillion in December 2024, driven by 10.6 per cent ytd growth in low-cost deposits to N6.1 trillion, which represents 92.2 per cent of total customer deposits.
Local currency deposits increased by 2.0 per cent ytd while foreign currency deposits increased by 21.4 per cent from $1.9 billion in December 2024 to $2.3 billion.
“Beginning the year with such positive momentum reinforces our commitment to supporting the growth of individuals and businesses, while enhancing our financial sustainability. As we go into the rest of the year, we remain focused on building a resilient banking franchise with a diversified earnings base,” Onyeali-Ikpe added.
And that is exactly what Fidelity Bank is doing. Those who are purveying the bankruptcy story about Fidelity Bank Plc., 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, and ranked among the best banks in the country are only engaged in wishful thinking with no evidence or even logic to hang their delusional assumption.
Who  Is Afraid Of Fidelity Bank. – By Udeme Etukeyen

Leading up to the recent superlative annual reports showcasing one of the most significant growth experienced by a Nigeria Financial Institution in recent years I was forced to ask “what is Fidelity Bank” doing right?
My banking and financial sector experience got me digging deeper into the statistics of the report-Fidelity Bank recorded a substantial 210.0% growth in PBT, reaching N385.2 billion in FY 2024. Deposits increased by 47.9%, from N4.0 trillion in 2023FY to N5.9 trillion in 2024FY, Gross earnings shooting by 87.7% to N1,043.4 billion which was primarily caused by a 106.9% increase in interest and similar income. Was I impressed? Absolutely 👍🏾
Now to the scary part, they opened the year with a bang implying that 2025 year end results was going to be nothing but spectacular; check this out-Fidelity reported a whooping 167.8% increase in PBT (Profit Before Tax)to N105.8 billion in Q1 2025, compared to N39.5 billion  in Q1 2024. Gross earnings from January to April had reached some N315.421 billion signaling a 64.21% increase year-on-year.
These results were nothing short of astonishing and with great hope I sat my team to review our Investment Strategy to accommodate taking up equities in Fidelity and advising our portfolio investors to do same.
We quickly appraised the fundamentals and Key Success Factors to include their focus on the strategic youth economy that the Creative and Digital Transformation sector promises, the banks bullish inroads in MSME promotion and financing, their glowing penchant for Gender inclusion without abandoning the core sectors of Mining, Renewables and other key industries
Then came the dissecting of Leadership, my team of analysts mostly female went on about Fidelity MD being one of the most experienced and affable Amazons in the industry; done this, achieved that and all the entreaties you’d expect from smart ladies who feel mentored from a distance. I didn’t hesitate to draw their attention to the experience of the menfolk within the organization like I had any measurable data to establish that mix…truth remains you can’t but admire the Banks Leadership and strides
A deeper look at the banks expansion globally could reveal a strategic and noiseless acquisition of Union Bank,London and their planned incursion into African and other European financial markets, you just can see that such daring strides and impact would give competition and detractors sleepless nights. Not in an era where sleeping pills are sold strictly by prescription and no thanks to the high cost of medication for peddlers of cheap propaganda
Within barely 30days of announcing such magnificent results little wonder how pundits would cook or spin a narrative to suggest a bank that has announced herself as First Tier with shoulders leveled up with other Banking giants would shudder over a judgement against her customer G.Cappa or even the contribution they would be required to cough out over that said Sagecom saga. With that judgement not going the way of pundits a contemptuous attempt at calculating interest at unclassified rates from an initial N14b to cause an unnecessary scare or negative press on the bank speaks volumes of how we unrepentantly strive to destroy value in our economy.
One would think that interpretation of the judgment and computation of due figures which will understandably come with a payment plan  be awaited instead of the usual bad blood generated and envisaged by toddler media characters.
It is not in doubt that the discerning public sees through the cruise and flat falling attempt of dramatic clout chasers ever ready to stain Fidelity’s white apparel which savvy Investors and analysts are filled with bridal admiration
Like Joseph Campbell hinted in his famous quote “The cave you fear to enter holds the treasure you seek.” We cast our treasures and bets on Fidelity Bank as the Nigerian treasure house to beat in the years ahead!
Udeme Etukeyen is an Abuja based Pan African Investment Advisory Expert
Why Fidelity Bank Plc Is Too Big To Fail

Several media platforms have gone to town with the news of the Supreme Court ruling on a dispute between the defunct FSB International Bank and Sagecom Concepts Limited with some of them questioning the ability of Fidelity Bank (the judgement debtor) to make the payment.
As the matter is still before the court and there’s a court order prohibiting media publications on this matter, warning that violations would constitute contempt of court, a punishable offense, we will highlight in this article why Fidelity Bank is too big to fail as alluded to by several online platforms.
Financial Strength and Market Position
Fidelity Bank Plc has demonstrated remarkable financial resilience, solidifying its position as one of Nigeria’s leading financial institutions. Recent reports highlight the bank’s impressive growth trajectory, including its re-entry into the N1 trillion market capitalization club and a 167.8% increase in profit before tax (PBT) to N105.8 billion in Q1 2025. Fidelity Bank’s financial performance has been exceptional, with a 64.2% year-on-year increase in gross earnings to N315.4 billion in Q1 2025. The bank’s total deposits have surged to N6.6 trillion, driven by a 21.4% increase in foreign currency deposits. These figures highlight its ability to attract and retain capital, ensuring liquidity and operational efficiency.
Investor Confidence and Regulatory Compliance
Fidelity Bank’s stock performance has been impressive, with a 237% oversubscription in its capital raise venture. Analysts predict continued growth, with gross earnings expected to reach N1.5 trillion and profit before tax projected at N415.4 billion in 2025. The bank’s ability to meet the N500 billion capitalization target set by the Central Bank of Nigeria (CBN) underscores its financial resilience and regulatory compliance.
Support for Small and Medium Enterprises
Fidelity Bank’s commitment to supporting Small and Medium Enterprises (SMEs) plays a crucial role in its significance to the economy. By providing tailored financial solutions and resources for SMEs, such as the recently launched SME Hub, the bank contributes to job creation and economic development, further cementing its importance in the financial ecosystem.
Regulatory Compliance and Risk Management
Fidelity Bank has demonstrated a strong commitment to regulatory compliance and risk management. By maintaining capital adequacy ratios above the required thresholds – liquidity ratio at 54.7% and capital adequacy ratio (CAR) at 20.3%, compared to the minimum requirement of 30.0% and 15.0%, respectively- the bank not only ensures its own stability but also contributes to the overall health of the banking sector.
Strategic Expansion and International Presence
The bank’s acquisition of Union Bank UK in 2023 marked a significant step toward international expansion. This move strengthens its global footprint and enhances its ability to serve a diverse clientele. Fidelity Bank’s leadership has also set ambitious goals to elevate the institution to tier-1 status, further reinforcing its stability and growth potential.
It is also worth noting that global best practice allows for judgement payments of this nature to be made in installments as agreed by the relevant parties. This is to ensure that the judgement is executed to the letter in a sustainable manner.
PHOTO NEWS

Photo News: The Commissioner for Insurance today received delegates from Ghana’s Marine Cargo Technical Committee on a study tour of Nigeria’s marine cargo sector at his office. The delegation was led by Mr. Fred Asiedu-Darteh of Ghana Shippers’ Authority.
Red Cross Society Youth Wing Marks Day, Honours Humanitarian Heroes 

By Chikaodi Chukwuleta
In celebration of the World Red Cross Day, the National Youth Wing of the Red Cross Society honoured humanitarian heroes.
In a keynote address during an award of recognition at Amawbia, Anambra State, the National Youth Wing  Chairman, Somtochukwu Bonaventure  Nneke,  said the recognition was in honour of the vibrant youths of the Nigerian Red Cross.
According to him, “it’s not just about medals and applauses, but reinforcing the values of humanity, voluntary  service, resilience that define who we are”.
The chairman,  who assumed office five months ago assured that the national youth wing has made significant  strides across the federation, driven by the shared vision to energise, empower, and elevate the youth structure.
He confirmed that the South East youths are now actively participating in key decision-making process, even as he listed the 2025 plan of action  of Red Cross which includes, First Aid Competition to foster life saving skills, A 5000-man National Blood Donation  Drive in collaboration with state blood transfusion service, conferences and summits on climate change, health, innovation, strengthening the role their  in achieving the sustainable  development  goals, youth- led community outreach and disaster preparedness campaign.
The State Chairman, Prof.Charity ifeyinwa Emelie, described Red Cross as an organisation of independence, peace and unity , saying that South East has produced  national chairman, and that the event was the first national youth programme recorded from Anambra to Osun, Kaduna and Abuja, and encouraged the youths to join Red Cross.
Permanent Secretary, Ministry of Youth and Sports, Anambra State,  Engr.Martins Agbili, advised the youths to avail  themselves the opportunity  provided by the government on becoming entrepreneurs by joining the 1 youth 2 Skills to enable them move forward.
The event ended with cutting of cake and presentation of awards  to different individuals.
The Permanent Secretary,  Engr.Martin Agbili received Community Service Award, Prince Oluyemisi Adeaga, Humanitarian Award of the year, Alh. Abubakar Kende, Youth Impact Award, and Sir Sydney Osawaru, Ambassador of Compassion Award.
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.”

FIRS Gets RMAFC Credit For  Nigeria’s Fiscal Stability

The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has described the Federal Inland Revenue Service (FIRS) as the cash cow responsible for the fiscal sustainability of the three tiers of government.
RMAFC member, Bimbo Kolade, who doubles as the commission’s Inland Revenue Monitoring Committee (IRMC), said this in Abuja on Thursday during the inauguration of a joint FIRS-RMAFC Technical Committee at the FIRS headquarters.
A statement by Sikiru Akinola, Technical Assistant on Media to the FIRS chairman said the federal, quoted Kolade as stating that federal, state and local governments are able to make projections and execute projects because of the assurance of steady revenue which comes mainly from tax revenue collected by FIRS and shared monthly at the Federation Allocation Account Committee meeting.
In 2024, FIRS tax revenue accounted for about 65 per cent of the total money shared by the three tiers of government, thus making tax as the pivotal source of revenue instead of crude oil sales by the Nigerian National Petroleum Corporation (NNPC).
Commending the FIRS chairman, Kolade explained that “if not for the wonderful job Dr Zacch Adedeji has been doing since September 2023 at the Service, Nigerians may have been crying a little more with what we have passed through.
“With your dedication, commitment and stellar performance, we can see that the country has been the better for it. I also want to congratulate Dr Adedeji on the success of the Tax Reform Bills.
“We could see the initial misunderstanding that came with the Bills— even the little between RMAFC and FIRS on the issue of VAT allocation and the rest of them. But then, because of the kind of person the FIRS chairman is, he called our chairman, and it was resolved.”
Speaking on the function of IRMC, Kolade explained that it was saddled with the responsibility of monitoring all accruals that come into the federation accounts.
“At RMAFC, we have various committees that oversee various parts of government organisations that we need to monitor. One of the federal agencies is FIRS. This IRMC was put in place to monitor tax revenue by ensuring that all taxes such as Value-Added Tax (VAT), Companies Income Tax (CIT) and the rest are properly collected and remitted into the federation accounts.
Speaking at the event, the FIRS boss who inaugurated the joint committee, said the visit of the RMAFC team was not only a gesture of goodwill but also a testament to the long-standing and strategic relationship between the two institutions.
He explained that the two agencies are linked by shared responsibilities in Nigeria’s fiscal architecture.
“While we at FIRS are charged with the collection of revenue, particularly non-oil taxes, RMAFC plays a vital role in ensuring that the revenues generated are monitored, properly accounted for, and equitably distributed in line with constitutional provisions.
“Our collaboration over the years has been built on mutual respect, professionalism, and a common objective: to enhance the fiscal sustainability of the Nigerian state. RMAFC’s work in monitoring revenue and advising on fiscal allocation directly supports our efforts to build a more robust and transparent tax system.
Adedeji said that the visit RMAFC’s visit was significant as it presented an opportunity for both institutions “to reflect on our shared progress, identify areas for improvement, and chart a forward-looking path toward even more impactful collaboration.”
“As Nigeria seeks to diversify its revenue sources and reduce its dependence on oil, the roles of FIRS and RMAFC become even more critical. It is against this backdrop that we welcome this engagement—not just as a courtesy, but as a strategic dialogue aimed at strengthening our institutional partnership.”
Revealing that the cooperation between the two agencies have yielded several positive outcomes, Adedeji said that “through information sharing, data verification exercises, and joint revenue monitoring initiatives, we have contributed meaningfully to improved revenue accountability at the federal level.
“RMAFC’s insights have helped shape policy decisions, while our work at FIRS in improving tax administration has directly supported the Commission’s monitoring and allocation functions. The synergy has also led to better forecasting and fiscal planning at the national level.
“However, we know there is still much to be done. Going forward, we must explore ways to institutionalise our collaboration through a more structured framework that addresses the issue of functional overlaps such as duplication of effort, conflicting priorities or objectives, communication breakdowns and role confusion.
“This framework will be one that includes regular inter-agency strategy meetings, joint research and analytics, and technology-driven data integration.
“It should also define clear roles, set common goals and monitor progress.  The benefits will be improved collaboration, increased efficiency and enhanced innovation,” Adedeji said.
LSETF Partners With MAA To Drive Marketing Tech Conference

The Lagos State Employment Trust Fund (LSETF) has partnered Marketing Analytics Africa (MAA) to host the 2025 African Marketing Technology &Ecommerce Conference (AMTEC).

The conference which is themed; ‘Marketing in the new economy: Data driven success in challenging times’ is scheduled to be held on Saturday, May 24th, 2025 at Landmark Event Centre in Lagos with high-profile speakers and panelists.

In a statement made available to the media, the organisers of AMTEC said, “LSETF is committed to creating an enabling environment for entrepreneurs and job opportunities for Lagos residents to create wealth. They have partnered with Marketing Analytics Africa Limited for AMTEC 2025.”

LSETF was established by The Lagos State Employment Trust Fund Law 2016 to provide financial support to residents of Lagos State, to tackle unemployment through job and wealth creation.

The Fund operates with an initial capital of N25 billion contributed over four years by the Lagos State Government, but has also raised additional funding from various sources including donor partners, development agencies, corporate organizations and individuals.

In a show of strong industry collaboration, brands like Colgate, Nutrify, Addmie, Indomie, Ladycare, DStv Nigeria, Dochase, Legit.ng, Cybertron, Accret Experience, among others, have joined MAA as official partners for #AMTEC2025.

These partnerships further cement the event’s credibility and impact as Africa’s leading martech and e-commerce knowledge hub.

The high-profile speakers expected to speak at the conference include Chief Executive of Advertising Regulatory Council of Nigeria (ARCON), Dr. Olalekan Fadolapo, Managing Partner at Open Squares Africa, Feyi Olubodun, Chief Marketing Officer at Sterling Bank Plc, Maurice Igugu, Colgate’s Head of Marketing, Tomisin Adetola and Head of Sponsorship and Events at First Bank, Chinwe Bode-Akinwande.

According to Victor Ojeakhena, the Co-Founder/CEO of Marketing Analytics Africa, the Africa Marketing Technology and E-commerce Conference (AMTEC) is an annual marketing event that brings together thought leaders, executives, marketing innovators, and data strategists from across Africa to explore the latest trends, tools and tactics in martech, e-commerce, data intelligence, and customer experience optimisation, all essential for thriving in today’s economic landscape.

Speaking on the importance of the conference, Ojeakhena hinted that the event has a focus on transformation, insights, and inclusion, thereby aiming to: empower brands and marketers with cutting-edge digital marketing strategies, showcase the role of data and emerging technologies in achieving scalable growth, provide a networking platform for professionals, entrepreneurs, and investors, and drive partnerships and collaborations for sustainable innovation across Africa.

AMTEC 2025 is scheduled to take place on the 24th day of May, 2025, at Landmark Events & Conference Centre, Victoria Island, Lagos, by 9:00 AM prompt.

Nestlé Professional  Trains 300 ‘My Own Business’ Operators In Lagos

Nestlé Professional has reaffirmed its commitment to accelerating youth entrepreneurship, with a workshop in Lagos to upskill over 300 operators and attendants within its My Own Business (MYOWBU) program.
MYOWBU is designed to empower young people across Central and West Africa by helping them establish sustainable careers in street vending. More than a vending initiative providing affordable beverage solutions such as NESCAFÉ and MILO enjoyed by millions of Nigerians every day, it is a sustainable means of livelihood for many young people seeking dignified work, financial independence, and a chance to build a better future.
“We are excited to host this MYOWBU workshop in Lagos, bringing together hundreds of committed operators and attendants,” said Mrs. Funmi Osineye, Business Manager for Nestlé Professional. “At the heart of this initiative is a belief in the power of entrepreneurship to transform lives. This workshop is not just about technical skills, it’s about building confidence, nurturing ambition, and strengthening the community of young business leaders who represent our brands with pride and purpose.”
With the goal of advancing operational excellence and sustainable growth, the workshop delivered focused training in business management, hygiene, food safety, waste management and customer service. Sessions were led by industry experts including Sulaimon Abolore, Assistant Director at the Lagos State Ministry of Commerce, Cooperative, Trade and Investment, and Dr. Ajibabi Awosika from Nestlé Nigeria.
 Mr. Abolore, Assistant Director Ministry of Commerce, Cooperative, Trade and investment, Lagos State Government stated, “We are pleased to see this notable program organized by Nestle, especially as it focuses on generating employment for youth, taking them off the streets. This aligns with our efforts at the state government to ensure job creation and provide opportunities for those willing to work. We commend the positive impact that the My Own Business initiative has on the economy and applaud Nestlé for this investment.”
The stories shared during the event were testaments to the program’s real-life impact. Adeosun Michael, recognized as the longest-serving MYOWBU operator after 20 years, shared: “MYOWBU transformed my life. I was able to leave the streets, build a home, and provide for my family. This journey has taught me that consistency and hard work pay off”.
Joseph Abraham, now a Nestlé distributor, reflected: “I started as a pushcart operator. Today, I’m running my own Nestlé distribution business thanks to the foundation Nestlé helped me build. Dreams do come true.”
 During the workshop, e Nestlé introduced the Clean with MYOWBU initiative, geared towards mobilizing more than 132 attendants in Lagos to collect and recycle used NESCAFÉ and MILO wrappers, reinforcing Nestlé’s broader commitment to environmental stewardship and circularity across its value chain. The program recovered 175.27kg of post use packaging waste.
 As the MYOWBU community grows stronger, so does its positive impact. What began with a few young poeple has evolved into a powerful model for sustainable entrepreneurship, and shared value creation. The program has created over 1,500 employment opportunities across Nigeria, equipping youth with fully branded pushcarts, shoulder kits, and essential start-up resources from Nestlé Professional.
Nestlé Professional remains deeply invested in supporting the entrepreneurs, offering not just assets, but access, skills, mentorship, and a path to ownership.
-end-
About Nestle Professional
Nestlé Professional is the Out-of-Home arm of Nestle and it focuses on providing innovative, high-quality food and beverage solutions to the out-of-home, or foodservice, industry in Nigeria. This division caters to a wide range of customers, including restaurants, hotels, cafes, offices, catering companies, coffee shops and other food service providers.
Our Vision is “To be the trusted partner of choice in ​Out-of-Home, by providing Affordable & Nutritious Food and Beverage Solutions that help our customers win.
About Nestlé Nigeria
Nestlé Nigeria is one of the largest food and beverage companies in Africa. The Company’s purpose is to unlock the power of food to enhance quality of life for everyone today and for generations to come. For over 62 years of its operation in Nigeria, Nestlé has delighted consumers around Nigeria by consistently delivering high quality nutritious food and beverages under its iconic brands:  MAGGI, MILO, GOLDEN MORN, NESTLÉ PURELIFE, CERELAC, NESCAFÉ and NIDO.
With 3 manufacturing sites, 7 branch offices and a head office located in Lagos, Nestlé Nigeria is a force for good, helping to improve the wellbeing and livelihood of individuals and families to build thriving communities while taking action to protect the planet.
emPLE Partners LASPARK For Tree Planting Initiative Supporting Lagos State’s Sustainability Goals

L-R: Group COO and Executive Director, Technical, emPLE Life Assurance, Jolaolu Fakoya; Chief Marketing Officer, emPLE Group, Labisi Adesokan ; General Manager, Lagos State Parks and Gardens Agency (LASPARK), Mrs. Adetoun Ibilola Popoola; Managing Director, emPLE General Insurance, Oyinlade Olalekan; Executive Director, Technical, emPLE General Insurance, Titilayo Akinsiku; and Chief Risk and Sustainability Officer, emPLE Life Assurance, Kunle Odetola-Odeleye, at the emPLE Tree Planting Initiative on Wednesday, 14th of May, at Iganmu, Lagos.

emPLE, one of Nigeria’s leading insurance provider, has officially flagged off Green emPLE, its company-wide sustainability initiative, with a tree-planting exercise held in partnership with the Lagos State Parks and Gardens Agency (LASPARK) at the National Theatre, Iganmu, Lagos.

As part of the launch, emPLE planted 65 trees across strategic locations in Lagos. The carefully selected tree species were chosen for their environmental benefits such as improving air quality, reducing urban heat, and enhancing the city’s ecological balance.

 

 

 

 

Speaking at the event, Oyinlade Olalekan, Managing Director of emPLE General Insurance Limited, remarked,

“At emPLE, we’re deeply committed to empowering lives—not just through our financial offerings but by actively contributing to a more sustainable world. The launch of Green emPLE and today’s tree-planting activity are key steps in that journey. Sustainability is one of our core values, and we’re proud to be playing our part in building a cleaner, greener Lagos.”

He added,

 

 

 

“We see Green emPLE as a platform for driving real impact, one initiative at a time. This partnership with LASPARK is only the beginning. We look forward to rolling out more activities that reinforce our mission and encourage others to join us in protecting the planet.”

Mrs. Adetoun Popoola, General Manager of LASPARK, also commended the initiative, saying:

 

 

 

 

“Our mandate at LASPARK is to promote a greener Lagos through tree planting and urban beautification. It’s always encouraging to see private sector organisations like emPLE step forward in support of this mission. Collaborations like this help us get more done and inspire residents and businesses alike to take sustainability seriously. We are excited about what Green emPLE represents and we look forward to more impactful partnerships.”

 

 

 

To acknowledge emPLE’s contribution, LASPARK presented the company with a Tree Planting Certificate, recognising its role in environmental preservation and its ongoing support for climate resilience and green urban development.

Green emPLE is emPLE’s long-term commitment to promoting sustainable practices that support a healthier planet and empower future generations. The initiative reflects the company’s belief that true empowerment goes beyond financial products it includes taking responsibility for the environment and driving long-term positive change.

 

 

 

 

About emPLE

 

emPLE is a leading financial services company dedicated to providing insurance and investment solutions to retail and corporate clients across Africa. At emPLE, our purpose is to empower Africans by providing innovative financial solutions that enhance their freedom, security, and prosperity. We believe that true empowerment comes from providing not just access to financial products but also the knowledge and tools necessary for our customers to make informed decisions and achieve financial independence.

For more information about emPLE, visit: www.emple.group