Category: News

As part of its unwavering commitment to reducing food insecurity and supporting vulnerable communities, Fidelity Bank Plc, a leading financial institution, has distributed food packs to residents of Victoria Island in the Eti-Osa Local Government Area of Lagos as part of its nationwide Fidelity Food Bank initiative.

This initiative, which attracted beneficiaries from diverse backgrounds, forms a key pillar of the bank’s Corporate Social Responsibility (CSR) strategy and reinforces its dedication to driving meaningful impact across Nigerian communities.

Speaking during the distribution event, Mr. Adebayo Adeyinka, Executive Technical Assistant to the Managing Director/CEO of Fidelity Bank Plc, emphasized the long-term impact of the initiative. “The Fidelity Food Bank was established to address the pressing challenges of poverty, hunger, malnutrition, and infant and maternal mortality within our communities,” he said.

“It aligns with Goal No. 2 of the United Nations Sustainable Development Goals – Zero Hunger – and reflects our long-term commitment to improving lives across the country. From IDP camps to flood-affected regions like Niger State, this is a nationwide outreach that we are proud to continue,” Adeyinka added.

Also present at the event was the Divisional Head, Operations, Fidelity Bank Plc, Mr. Henry Asiegbu, who highlighted the growing support and impact of the program.

“This intervention has been positively received at all levels – from community members to government and partner organizations,” he noted. “The support has been overwhelming, and it encourages us to sustain and expand the initiative further.”

For many of the community members, the gesture offered more than just nourishment – it restored dignity and hope. Victoria Olubiyo, resident and representative of the members of the community, expressed her gratitude, saying, “Fidelity Bank has brought joy to our lives. Even during the no-cash crisis, their ATMs were always working. They’ve provided boreholes, fulfilled their promises, and shown genuine care. Today, people – men, women, children, even those living with disabilities – are supported. I urge other banks to follow their example.”

Another beneficiary, Jerome Igbe, echoed this sentiment, saying, “This means so much to struggling families. I honestly didn’t expect this kind of support. May God bless them and replenish their resources.”

Through initiatives like the Fidelity Food Bank, the bank continues to demonstrate its role as a socially responsible corporate organisation committed to impacting Nigerians positively.

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.

The newly established National Credit Guarantee Company (NCGC) has officially commenced operations, marking a significant milestone in the federal government’s commitment to economic transformation under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

In a statement issued by the Managing Director and Chief Executive Officer of NCGC, Bonaventure Okhaimo, the company pledged to revolutionize access to credit for Nigerian businesses, with a primary focus on empowering Micro, Small, and Medium Enterprises (MSMEs).

“It is with immense pleasure and great optimism that I announce the official commencement of operations of the National Credit Guarantee Company (NCGC), fulfilling President Bola Ahmed Tinubu’s promise to unlock economic potential,” Okhaimo stated.

He noted that the launch of NCGC is aimed at catalyzing productivity, creating jobs, and boosting broad-based economic growth across Nigeria.

As part of its strategic plan, the company will collaborate closely with regulators, financial institutions, private sector organizations, and other key stakeholders to align its operations with international standards and best practices.

“As we embark on this journey, we will engage in robust consultations to ensure our policies and processes meet global standards and exceed expectations,” Okhaimo added.

NCGC also emphasized its readiness to foster partnerships both domestically and internationally, promising transparency and dedication in executing its mandate.

“We seek the collaboration and support of our customers, domestic and foreign partners. We are committed to transparently and diligently implementing our mandate,” the MD/CEO assured.

The launch of the NCGC signals a new chapter in Nigeria’s economic development drive, offering a reliable credit guarantee framework aimed at reducing lending risks and improving financial inclusion for small and growing businesses.

The General Officer Commanding (GOC) 81 Division, Nigerian Army, Major General Farouk Mijinyawa, has called on commanders at all levels to maintain stringent supervision of their troops and uphold the highest professional military standards in the execution of their duties as members of the Armed Forces of Nigeria (AFN). He made this call during his closing remarks at the recently concluded 81 Division Officers Training Week, held at the Calf Officers Mess, TA Lagbaja Cantonment, Ikeja, Lagos, on June 24, 2025.

Major General Mijinyawa emphasized that training is a vital instrument for achieving the required level of proficiency in carrying out duties within units, formations, and among Nigerian Army personnel.

He noted that the country is facing numerous security challenges, where leadership, especially at the junior level, is essential to operational effectiveness.

The GOC stated that the training week provided an opportunity for officers to enhance and perfect the essential rudiments of operational planning at the tactical level, thereby improving the conduct of operations, particularly in Lagos State. He encouraged participants to fully utilize the training week, incorporating key takeaways and justifying the essence of the training.

Earlier, the Commander 9 Brigade, Nigerian Army, Brigadier General Olawale Oyekola, had welcomed participants, noting that the Training Week was carefully themed “Developing Capacity for Officers to Meet the Contemporary Challenges in a Joint Environment.” He urged participants to be open-minded and engage in robust interactions, maximizing the benefits of the training.

In his vote of thanks, the Chief of Staff, Headquarters 9 Brigade, Colonel Ibrahim Sheriff, expressed profound gratitude to the Chief of Army Staff (COAS) for his contribution, guidance, and support to the Division. He also appreciated the GOC for his strategic guidance and leadership, as well as the Commander 9 Brigade and other formation and unit commanders for their support and contributions to the success of the training week.

The Training Week featured a series of lectures, including “Impact of Effective Leadership on Operational Efficiency: The Role of Junior Commanders,” “Maintaining Discipline Among Personnel of the Armed Forces of Nigeria: An Analysis of Prevalent Offences Within 81 Division Area of Responsibility,” and “Approaches to Cardiovascular Health Promotion Amongst Nigerian Army Personnel.”

The lectures elicited maximum participation from junior commanders, Commanding Officers, Staff Officers and Commanders of units and formations of the Division. Other highlights included the presentation of souvenirs and group photographs to commemorate the event.

In a time where staying connected has never been more important, Smile Nigeria is on a mission to do more than just provide superfast internet. We’re here to connect Nigerians to what truly matters — loved ones, opportunities, and the joy of everyday life.

From students attending virtual classes to entrepreneurs running online businesses from their living rooms, Smile has quietly powered the dreams and daily lives of many. But now, we want everyone to know: with Smile, you’re not just getting reliable 4G LTE internet — you’re becoming part of a community that believes in progress, positivity, and people.

“Smile is more than a network. It’s a promise to deliver seamless connectivity with heart,” said ‘Goke Olaleye, Head of Marketing Operations at Smile Communications. “We know Nigerians are resilient, ambitious, and family-oriented — and we’ve designed our services to support that spirit.”

With flexible data plans, affordable voice options, and top-notch customer care, Smile is breaking down digital barriers, helping small businesses grow, keeping families connected across distances, and supporting the hustle that makes Nigeria shine.

Some of the reasons why Nigerians choose Smile are, Fast, stable 4G LTE network coverage in major cities and growing, several bundles options, including options for students and SMEs, as well as a dedicated customer support team, that is trained to listen, solve, and smile — just like our name says.

As part of our commitment to giving back, Smile is also investing in digital literacy programs and supporting local communities through partnerships that uplift and empower.
So whether you’re chasing a dream, running a side hustle, or just FaceTiming your family or Bae, Smile is here to make it smoother, faster, and more joyful.

So, Let’s connect — and grow — together. Let’s Smile.

The Cable NG reports that the market capitalisation of Fidelity Bank has crossed the N1 trillion mark as the share value of the company appreciated by 1.27 percent at the close of trading.

According data from the Nigerian Exchange Group (NGX), the bank’s market capitalisation hit N1 trillion after its share price rose from N19.75 on Tuesday to N20 on Wednesday.

The increase moved the company’s valuation from N991.6 billion to N1 trillion.

With the development, Fidelity Bank joins the list of financial institutions with a market capitalisation of over N1 trillion.

The companies are Zenith Bank, Access Bank, United Bank of Africa (UBA), Guaranty Trust Bank  (GTB), and First Bank.

On May 21, Nneka Onyeali-Ikpe, the managing director (MD) and chief executive officer (CEO) of Fidelity Bank, acquired an additional 18 million shares in the bank.

Two days later, Onyeali-Ikpe bought additional 2 million units of shares in the bank.

According to a regulatory filing on the NGX, the shares were acquired on May 22, at N18.6 each — amounting to a total value of N37.2 million.

The acquisitions increased her shareholding in the bank to 114.64 million shares — from 94.64 million held as at December 31, 2024.

In its latest financial performance report, Fidelity Bank said it reported a 167.8 percent year-on-year increase in profit before tax (PBT), which increased to N105.8 billion in the first quarter (Q1) of 2025.

Fidelity Bank Plc, one of Nigeria’s top-tier financial institutions, has promoted 376 employees following its recently concluded annual performance review exercise. This represents approximately 12% of the bank’s workforce, underscoring its management’s deep appreciation for the pivotal role played by staff in recoding the highest growth by percentage volumes in the banking industry with 210% increase in its Profit Before Tax (PBT) which grew from N124.3 billion in 2023 to N385.2 billion in 2024.

The announcement, which was recently communicated internally, comes on the heels of a 20% across-the-board salary increase implemented in June 2025—a gesture that reflects the bank’s commitment to staff welfare. It is worth noting that this follows a similar salary adjustment carried out in November 2024.

Under the leadership of Dr. Nneka Onyeali-Ikpe, Fidelity Bank has consistently outperformed market expectations. In 2024, the bank recorded the highest share price growth of 116% in the industry following the completion of its Public Offer which was over subscribed by 238% .

In recognition of the banks stellar performance, global rating agency, Fitch Ratings recently upgraded Fidelity Bank’s National Long-Term Rating from ‘A(nga)’ to ‘A+(nga)’ in a further endorsement of the bank’s financial strength and prudent management. The upgraded ratings reflects improved profitability metrics and robust capital buffers, reinforcing the bank’s sustained upward trajectory.

The Customs Area Controller, Seme Area Command, Comptroller Ben Oramalugo PhD receives the Zonal Coordinator of the Nigeria Customs Service (NCS), Zone A Lagos, Assistant Comptroller General Charles Orbih, on Wednesday, 25th June 2025, who is on a working visit to the Seme Area Command, located at the ECOWAS Joint Border Post, Seme-Krake. The visit was aimed at assessing the Command’s operations, engaging with officers and aligning strategic goals across the Zone.

Welcoming the Zonal Coordinator and his entourage, the Customs Area Controller of Seme Command, Comptroller Ben Oramalugo PhD, shows deep appreciation for the visit, describing it as a morale booster and a reaffirmation of the ACG’s commitment to operational excellence and oversight. He said, “..your presence today is a testament to your commitment to strengthen the operations of the Zone, ensuring that the Commands and Units deliver their mandates as enshrined in the extant laws.” He presented a detailed overview of the Command’s mandates and achievements in revenue generation, anti-smuggling operations, trade facilitation and border security.

Comptroller Oramalugo disclosed that between January and May 2025, the Command generated over ₦3.57 billion in revenue and facilitated export consignments of 220,300 metric tonnes, valued at ₦47 billion Free on Board (FOB). He also highlighted anti-smuggling efforts that resulted in seizures worth ₦889 million, including the interception of expired pharmaceuticals, marijuana and corrosive mercury, which were handed over to the relevant security agencies for further investigation.

The CAC acknowledged several challenges facing the Command, such as a Seven (7) year power outage, poor road infrastructure, non-functional scanning equipment, and border porosity. He emphasized ongoing advocacy for infrastructure upgrades, deployment of modern surveillance tools, and deeper collaboration with sister security agencies and local communities to address these concerns.

In his remarks, ACG Charles Orbih lauded the leadership of the Seme Area Command for initiatives such as the renovation of the COWA building, upgrading of the sports complex, and the recent commissioning of the officers’ mess. He described these projects as symbolic of the Command’s alignment with the vision of the Comptroller-General of Customs, Bashir Adewale Adeniyi MFR, who has anchored the Service’s transformation agenda on Consolidation, Collaboration, and Innovation.

ACG Orbih highlighted the Zone’s impressive contributions to national revenue, noting that the Zone accounted for 79.8% of the NCS’s ₦1.3 trillion revenue collection in the first quarter of 2025. He also reaffirmed the Service’s modernization journey through initiatives such as the Advance Ruling System, Authorized Economic Operators (AEO) programme, and B’Odogwu platform, the indigenous Customs Clearance system.

He further noted that the Service’s operational strategy for 2025 is guided by Seven (7) strategic focus areas, including trade modernization, enhanced risk management, operationalization of the NCS University, strengthening International partnerships under the AfCFTA framework, implementation of a robust Corporate Social Responsibility (CSR) strategy and promotion of open governance through increased transparency framework and stakeholder engagement. According to him, these initiatives are already producing commendable outcomes.

Concluding his visit, ACG Orbih charged Officers and Men of the Command to continue upholding professionalism, integrity, and innovation, stressing that the bar has been raised for Zone A. In his words, “as we move forward, the bar has been set higher for Zone ‘A’. Our previous achievements, impressive as they are, should serve as stepping stones rather than resting points. “We must leverage our strategic importance to push beyond these accomplishments, innovating and adapting to meet the evolving demands of our nation’s economy and security needs.”

He expressed confidence in the ability of Seme Command and other units under the Zone to not only sustain but surpass current achievements in service to the nation.

Reports published by Sahara Reporters on June 25 claimed that Fidelity Bank’s MD, Dr. Nneka Onyeali-Ikpe was a party to an ongoing case involving fraud on Woobs Resources account with the bank.

This is however not true. The charge sheet dated 12 May 2025 (sighted by this reporter) stated that the Defendants in the suit were Victor Ukutt, Esq, Fidelity Bank Plc, Whoba Ugwunna Ogo and Safiya Whoba.

It will be recalled that the Office of the Attorney General of the Federation and Minister of Justice issued a press release on 9 June 2025 explaining that Dr. Onyeali-Ikpe’s name was struck off the charge as she was neither the account officer nor the Managing Director of the Bank when the account used in the alleged scheme of fraud was opened.

Environmental activists and climate change advocates seized the opportunity of a webinar hosted by Unity Bank to call for urgent and coordinated action to tackle Nigeria’s growing plastic pollution crisis, describing it as one of the greatest environmental threats facing the country today.

The call was made at the event marking this year’s World Environment Day facilitated by Unity Bank’s Sustainability Team to fashion out innovative strategies to curb plastic pollution in Nigeria in line with this year’s global theme: “Ending Plastic Pollution.”

In his remarks, Mr. Usman Abdulkadir, Executive Director, Risk Management, Unity Bank Plc, reaffirmed the Bank’s commitment to sustainability, adding that issues like plastic pollution carry deep risk implications for businesses and communities.

“Environmental degradation is increasingly a business risk, not just a corporate social concern,” Mr. Abdulkadir stated. “We must all begin to view environmental stewardship as a duty that cuts across sectors – finance, government, industry, and civil society. Unity Bank remains committed to integrating ESG principles into its risk frameworks and sustainability agenda.”

Guest speakers included leading waste management entrepreneurs and environmental activists such as Sunday Kolawole Sholanke, Co-founder/CEO of PETsPoint Recycling Nigeria, and Omoh Alokwe, Co-founder/CEO of Street Waste Company Limited.

Speaking at the Webinar, Mr. Sholanke decried the alarming volume of plastic waste in Nigeria, putting estimates on the country’s waste generation to about 596 million metric tonnes annually, with 88% of it neither reclaimed nor recycled.

“Nigeria ranks as the 9th highest contributor to global plastic pollution. Much of Nigeria’s plastic waste ends up in landfills, drainage systems, and water bodies, causing extensive environmental damage and posing serious health risks,” he explained.

He also shared startling global statistics: “Over one million plastic bottles and 10 million plastic bags are produced every minute. In 2020 alone, eight million tons of plastic bottles were produced globally, with less than 30% collected and under 10% recycled. The rest is dumped, burned, or abandoned in the environment, worsening risks of flooding, climate disruption, and disease.”

He identified poor waste management culture, low public awareness, and lack of community collection infrastructure as major factors aggravating the Nigeria’s plastic waste crisis.

Calling on the financial services sector to be more proactive, Sholanke urged Banks to invest in green financing by increasing access to affordable credit for green businesses and eco-friendly initiatives.

Also speaking, Omoh Alokwe emphasized the role of regulators in strengthening enforcement and updating policy frameworks to reduce harmful practices that fuel the global plastic crisis.

Also speaking in the same vain, Mr. Ibukun Coker, Head of Strategy and Innovation at Unity Bank Plc emphasized the Bank’s commitment to sustainable practices and environmental protection, highlighting the role of the financial sector in driving meaningful change.

“Plastic pollution is not just an environmental issue, it is an economic and public health crisis,” said Mr. Coker. “At Unity Bank, we believe that sustainability should be more than a policy; it must be embedded in how we operate, the projects we finance, and the partnerships we build.”

The webinar offered a platform for robust dialogue around sustainable actions and innovative solutions that can mitigate the escalating threat of plastic pollution and promote environmental protection.

Unity Bank has consistently championed environmental causes, including its annual Earth Day partnerships with non-profits such as RESWAYE to clean the Royal Beach in Elegushi, Lagos, part of its mission to protect marine ecosystems. In its most recent Earth Day campaign, the Bank challenged every staff member across 32 states to plant a tree in their locality, driving a grassroots reforestation movement and reinforcing environmental awareness