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  • Zenith Bank marks 35th Anniversary in Grand Style, Recognises Pioneer Customers and Long-Serving Staff

    Zenith Bank marks 35th Anniversary in Grand Style, Recognises Pioneer Customers and Long-Serving Staff

    Amidst pomp and pageantry layered with a mixture of glitz and glamour, Zenith Bank Plc marked its 35th anniversary with a commemorative Chairman’s Dinner at the Eko Convention Centre, Eko Hotels & Suites, Victoria Island, Lagos on Friday, August 15, 2025.

    In recognition of their immense contributions to the success of the brand, the bank also presented commemorative awards and plaques to pioneer customers and long-serving staff, who have served meritoriously for 25 years and above.

    The ceremony brought together key stakeholders of the bank including customers, staff (past and present), regulators, partners, and friends, who all came together to celebrate 35 years of excellent and innovative banking services that has propelled the banking giant to the peak of Nigeria’s financial industry.

    Among the eminent personalities who graced the occasion were the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Governor of Ondo State, Mr. Lucky Aiyedatiwa; Governor of Taraba State, Dr. Agbu Kefas; Governor of Borno State, Prof. Babagana Zulum; Governor of Delta State, Rt. Hon. Sheriff Oborevwori, who was ably represented by the Deputy Governor, Sir. Monday Onyeme; Alhaji Aliko Dangote, GCON; and former governors Peter Obi and Udom Emmanuel (also an alumnus of Zenith Bank).

    In her welcome address, the Group Managing Director/ Chief Executive of Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON applauded the Founder and Chairman, Jim Ovia, CFR for his foundational role in building the structures for what has today become a shining example of excellence in the Nigerian banking industry and a globally recognised financial institution. She described him as “the Godfather of modern banking and the Nostradamus of our time, who through sheer tenacity, foresight, and uncompromising integrity transformed a modest vision into the financial powerhouse we celebrate today”.

    In his goodwill message, the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON, a proud alumnus of the bank, praised the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR for being at the heart of the very successful brand that today stands as Nigeria’s largest bank by Tier-One capital. According to him, “Long before technology became the bloodstream of global finance, Jim Ovia had already woven it into the DNA of Nigerian banking industry. He introduced innovation not as a fashion but as a philosophy, placing Zenith Bank on a path where excellence is not an ambition but a standard. Yet his true signature is not only on the balance sheet. For Jim Ovia, the people make an institution. His greatest investment has been in human capital – in transferring his experience and sense of adventure to generation after generation of bankers and investors forged at Zenith Bank”.

    Also speaking at the event, the Founder and Chairman of Zenith Bank, Jim Ovia, CFR expressed its immense appreciation to all guests for joining the bank in celebrating this momentous occasion. He thanked the bank’s esteemed customers and shareholders for their trust, confidence and shared vision; the regulators, for their guidance over the years; his friends and partners, for being a constant source of strength; the Zenith Bank family led by the exceptional Group Managing Diector/CEO, Dame Dr. Adaora Umeoji, OON, for their loyalty and commitment; and his beloved wife and family for their love and support.

    Founded in May 1990, Zenith Bank has grown from humble beginnings into one of Africa’s leading financial institutions with branches across the 36 states of the federation and the FCT, Abuja as well as subsidiaries in the United Kingdom, Ghana, Sierra Leone, Gambia, France, UAE and a representative office in China.

  • Zenith Bank emerges Nigeria’s Best Bank at Euromoney Awards for Excellence 2025

    Zenith Bank emerges Nigeria’s Best Bank at Euromoney Awards for Excellence 2025

    Zenith Bank Plc has been named “Nigeria’s Best Bank” at the Euromoney Awards for Excellence 2025, emerging as Nigeria’s standout performer, and clinching the biggest and most coveted country award. The award, which was presented to the bank on Thursday, July 17, 2025 at The Peninsula, London, is a testament to its commitment to delivering exceptional banking services, innovative products and superior value to its customers and shareholders.

    Euromoney’s Awards for Excellence are one of the most highly coveted awards that matter to banks and bankers who matter. The annual Awards for Excellence celebrates financial institutions that demonstrate leadership, innovation, and resilience in their markets, with this year’s edition seeing a record number of over 770 entries from world-class financial institutions including HSBC, Morgan Stanley, CitiBank, Barclays, Standard Bank and Development Bank of Singapore (DBS), amongst others.

    Commenting on the award, the Group Managing Director/Chief Executive of Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON said, “We are absolutely thrilled to be recognized as Nigeria’s Best Bank by Euromoney. This award is not just a testament to our relentless pursuit of excellence, but also a validation of the unwavering trust and confidence our customers have placed in us. We are once again reminded that our success is not just about us, but about the impact we continue to have on the financial ecosystem. We will continue to work tirelessly to support the growth and development of our economy and uphold the highest standards of governance, integrity and transparency that has earned us this recognition”.—– Download Omega News App —–

    She dedicated the award to Zenith Bank’s customers across the globe for their loyalty, and to the Founder and Chairman, Jim Ovia, CFR, for his visionary leadership and commitment to excellence which formed the foundation for the bank’s successes. She also thanked the Board for their guidance, as well as the staff for their unwavering dedication to building a formidable and best in class global financial institution that will outlive generations.

    Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year in the 2025 Top 1000 World Banks Ranking, published by The Banker. The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.

    Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from 2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank has been acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards for four consecutive years from 2022 to 2025 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

    The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in The Banker’s Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 and 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BAFI Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.

    Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025.

  • Zenith Bank Tops Nigerian Chart Again In 2025 World Banks’ Ranking, Ranked 581st Globally With $2 Billion Tier-1 Capital

    Zenith Bank Tops Nigerian Chart Again In 2025 World Banks’ Ranking, Ranked 581st Globally With $2 Billion Tier-1 Capital

    Zenith Bank Plc has once again retained its position as the Number One Bank in Nigeria by Tier-1 Capital for the sixteenth consecutive year, according to the 2025 Top 1000 World Banks’ Rankings published by The Banker, a publication of the Financial Times Group, United Kingdom.

    In the global standings, Zenith Bank was ranked 581st in the world, backed by a solid Tier-1 Capital base of $2 billion. This firmly places the Nigerian banking giant among the leading financial institutions globally.

    The global ranking featured in the July 2025 edition of The Banker was based on Tier-1 capital figures as of the end of 2024. Tier-1 capital remains the most widely recognized metric used by international financial bodies and analysts to assess the strength and stability of banks worldwide.

    Commenting on this achievement, the Group Managing Director/CEO of Zenith Bank Plc, Dame (Dr.) Adaora Umeoji, OON, said, “We are thrilled to have retained our position yet again as the Number One Bank in Nigeria by Tier-1 capital for the 16th consecutive year.

    “This achievement is a reflection of the bank’s robust financial performance, prudent risk management and steadfast dedication to delivering exceptional value to our customers and stakeholders”.

    She thanked the Founder and Chairman, Jim Ovia, CFR, for his visionary and transformative leadership, which has played a pivotal role in cultivating a resilient and thriving institution.

    Dame (Dr.) Umeoji also expressed her deepest appreciation to the bank’s esteemed customers for their continued loyalty to the Zenith brand, the Board for the sound corporate governance, and the staff for their relentless & tireless efforts in ensuring the bank’s success.

    Tier-1 Capital described capital adequacy, the core measure of a bank’s financial strength from a regulator’s perspective.

    According to the ranking, Tier-1 Capital, as defined by the Bank for International Settlements (BIS) guidelines, includes loss-absorbing capital, i.e., common stock, disclosed reserves, retained earnings, and minority interests in the equity of subsidiaries that are less than wholly owned.

    A strong Tier-1 capital ratio boosts investor and depositor confidence, indicating the Bank is well-capitalised and financially stable.

    According to the audited financial results for the 2024 financial year presented to the Nigerian Exchange (NGX), the Bank recorded a double-digit growth of 86% in gross earnings, increasing from N2.13 trillion in 2023 to N3.97 trillion in 2024.

    This growth was driven by a 138% increase in interest income, supported by investment in high-yield government securities, and growth in the Bank’s loan book. Zenith Bank’s profit before tax (PBT) rose by 67%, reaching N1.3 trillion in 2024 from N796 billion in 2023.

    However, this performance saw the bank record an unprecedented total dividend payout of N195.67 billion at N5.00 per ordinary share in the 2024 financial year.

    Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022, 2024 and 2025, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and being listed in the World Finance Top 100 Global Companies in 2023.

    Further recognitions include Best Commercial Bank, Nigeria for four consecutive years from 2021 to 2024 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the International Banker 2023 and 2024 Banking Awards. Additionally, Zenith Bank was acknowledged as the Best Corporate Governance Bank, Nigeria, in the World Finance Corporate Governance Awards from 2022 to 2024 and ‘Best in Corporate Governance’ Financial Services’ Africa for four consecutive years from 2020 to 2023 by the Ethical Boardroom.

    Zenith Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand in Nigeria in the Banker Magazine Top 500 Banking Brands for 2020 and 2021, Bank of the Year 2023 and 2024 at the BusinessDay Banks and Other Financial Institutions (BAFI) Awards, and Retail Bank of the Year for three consecutive years from 2020 to 2022 and in 2024 at the BAFI Awards.

    The Bank also received the accolades of Best Commercial Bank, Nigeria and Best Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.

    Zenith Bank was also named Most Responsible Organisation in Africa, Best Company in Transparency and Reporting and Best Company in Gender Equality and Women Empowerment at the SERAS CSR Awards Africa 2024; Bank of the Year 2024 by ThisDay Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade Finance, 2023 by Nairametrics. The Bank’s Hybrid Offer was also adjudged ‘Rights Issue/ Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025.

  • Foreign Affairs Minister, Yusuf Tuggar, Meets With China’s Hunan Province Governor, His Excellency Mao Weiming

    Foreign Affairs Minister, Yusuf Tuggar, Meets With China’s Hunan Province Governor, His Excellency Mao Weiming

    The Honourable Minister of Foreign Affairs, Amb. Yusuf Maitama Tuggar, OON, met with the Chinese Governor of Hunan Province, His Excellency Mao Weiming, in Changsha for high-level discussions aimed at deepening collaboration and establishing a friendship Province-State relationship between Nigeria and Hunan Province at both federal and sub-national levels.

    During the meeting, Tuggar conveyed President Bola Ahmed Tinubu’s deep commitment to agriculture and food security as pillars of Nigeria’s national stability. The discussions identified key areas for mutual cooperation, including seed technology improvement, agricultural processing, and enhanced provision of agricultural machinery.

    “Hunan has a profound historical heritage and a vibrant economy. The province is an important strategic region for Nigeria in developing its friendly relationship with China”, Amb Tuggar stated during the meeting. The minister further reiterated Nigeria’s willingness to strengthen communication and cooperation with Hunan in the fields of agriculture, infrastructure construction, culture, and tourism, as well as in the establishment of special economic zones. Tuggar also called for jointly advancing the full implementation of the outcomes achieved at the FOCAC Beijing Summit, so as to boost the everlasting friendship between the two countries.

    Governor Mao Weiming stated that although Hunan and Nigeria are thousands of miles apart, both sides share a long history of friendly exchanges. In his words, “both Nigeria and Hunan Province have a good foundation and broad prospects for cooperation in agriculture, construction machinery, and other sectors”. He noted that from January to April of this year, the import and export volume between Hunan and Nigeria amounted to 220 million USD, of which imports from Nigeria increased by 92% year on year.

    The governor expressed the hope that both sides may jointly implement the outcomes of the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC), further deepening communication and exchanges. “Efforts should be made to actively build a collaboration that highlights economy and trade while ushering in prosperity in such fields as modern agriculture, infrastructure, healthcare and cultural tourism. We should promote alignment in resources, mutual integration of industries, and common development for mutual benefit, contributing to the China-Nigeria comprehensive strategic partnership”, Governor Mao added.

    Both parties also explored opportunities for Chinese investment in Nigeria’s agricultural value chain and industrial sectors, positioning Nigeria as a strategic gateway to the broader African market. Other focal points included technology transfer, cultural exchange, and skills development—underscoring a shared vision of sustainable growth and mutual prosperity.

  • Zenith Bank Wins Nigeria’s 2025 Best Bank At Global Finance Best Banks Award

    Zenith Bank Wins Nigeria’s 2025 Best Bank At Global Finance Best Banks Award

    Zenith Bank Plc has been named “Best Bank in Nigeria” in the Global Finance Best Banks Awards 2025, winning the award for the fifth time in six years.

    The Bank was among winners from 36 countries in Africa recognised by the prestigious Global Finance in its 32nd Annual Best Bank Awards.

    The winners of this year’s awards are those banks that attended carefully to their customers’ needs in difficult markets and accomplished strong results while laying the foundations for future success. Winning organizations managed their assets and liabilities in a savvy way despite the fast-changing interest rate scenarios.

    The editors of Global Finance made the selections after extensive consultations with corporate financial executives, bankers and banking consultants, as well as analysts worldwide.

    Factors considered in selecting the top banks ranged from the quantitative objective to the informed subjective. Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.

    Commenting on the award, the Group Managing Director/Chief Executive of Zenith Bank, Dame (Dr.) Adaora Umeoji, OON, said: “We are thrilled to retain our position as the Best Bank in Nigeria for the fifth year since 2020.

    This achievement is a testament to our unwavering commitment to delivering exceptional customer service, innovative financial solutions and dedication to serving our customers with efficiency and a strong focus on corporate governance. We will continue to invest in our people, technology and processes to ensure that we consistently maintain the highest level of service delivery”.

    She lauded the contributions and efforts of the Bank’s key stakeholders – the Founder and Chairman, Jim Ovia, CFR, for his visionary leadership and role in laying the foundation for an enduring and successful institution, the Board for the consistent guidance they provide, the staff for their commitment and dedication, and the Bank’s customers for their unwavering loyalty and support to the Zenith brand.

    Joseph D. Giarraputo, publisher and editorial director of Global Finance, said: “Global banking continues to adapt and evolve, meeting challenges and capitalizing on opportunities with resilience and innovation. AI has quickly taken a pivotal role in the transformation of banking, and its growth promises to reshape the financial sector at an unprecedented pace.” He added that: “Global Finance’s Best Bank Awards honor financial institutions that excel in diversity of offerings, long-term stability, and technological innovation.”

    Global Finance’s “Best Banks Awards” are recognised amongst the world’s most influential banking/finance and corporate professionals as the most coveted and credible awards in the banking industry, with winners chosen in 150 countries and territories across Africa, Asia Pacific, the Caribbean, Central America, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe.

    Founded in 1987, Global Finance regularly selects the top performers among banks and other financial services providers, and the awards have become a trusted standard of excellence for the global financial community.

    Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1 Capital for the fifteenth consecutive year in the 2024 Top 1000 World Banks Ranking, published by The Banker Magazine.

    The Bank was also awarded Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards; Best Bank for Digital Solutions in Nigeria in the Euromoney Awards 2023; and was listed in the World Finance Top 100 Global Companies in 2023.

  • Fidelity Set to Hold 3rd Edition of FITCC in Atlanta, USA, September 2025

    Fidelity Set to Hold 3rd Edition of FITCC in Atlanta, USA, September 2025

    Leading African financial institution, Fidelity Bank Plc, is set to hold the 3rd edition of its flagship market access platform, the Fidelity International Trade and Creative Connect (FITCC) Expo from September 18 to 20, 2025, at the Omni Atlanta Hotel at Centennial Park, Georgia, USA.

    In a strategic move to deepen diaspora and transatlantic business linkages, Fidelity Bank is partnering with Amplify Africa, the organizers of AFRICON, the leading African diaspora business and culture summit in the United States. This collaboration brings together two powerful platforms committed to bridging African enterprise with global opportunity.

    “Since 2022, when we hosted the maiden edition, FITCC has evolved beyond a platform for promoting Nigeria’s non-oil exports to become a veritable showcase of the immense value Nigeria has to offer the global market.

    “As part of our commitment to developing platforms that promote economic growth, creativity, and sustainable trade both within Nigeria and internationally, we are pleased to announce the third edition of FITCC. Since 2022 when we hosted the inaugural edition, the FITCC expo has been at the heart of driving global market access for local businesses and I am delighted that this year we will be in the city of Atlanta, USA,” stated Dr Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc.

    Following the success of previous editions in London and Houston, which collectively generated a consolidated deal pipeline exceeding US$500 million, FITCC Atlanta 2025 will convene over 100 Nigerian exporters, alongside U.S. buyers, investors, policy stakeholders, and diaspora-led business networks.

    The expo will spotlight strategic sectors including agriculture, consumer-packaged goods, energy transition minerals, fashion, beauty, and the broader creative economy. Programming highlights include business exhibitions, B2B matchmaking, policy dialogues, diaspora investment panels, and curated workshops focused on expanding Nigeria’s access to global markets.

    FITCC 2025 is expected to attract over 3,000 participants, including development finance institutions, chambers of commerce, trade facilitation agencies, and multinational corporations. The event is also aligned with ongoing government-led efforts to expand U.S.–Nigeria trade and investment under emerging bilateral frameworks.

    Interested participants can register to attend by visiting https://www.fidelitybank.ng/fitcc/#start_registering

    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.

  • Fidelity Bank grows PBT by 167.8% to N105.8 billion in Q1 2025

    Fidelity Bank grows PBT by 167.8% to N105.8 billion in Q1 2025

    Fidelity Bank Plc, one of Nigeria’s leading Tier-1 financial institutions, has announced a remarkable financial performance for the first quarter of 2025, recording a Profit Before Tax (PBT) of N105.8 billion, representing an impressive growth of 167.8% compared to N39.5 billion in Q1 2024.

    The bank’s unaudited financial statements, released on the Nigerian Exchange (NGX) on April 30, 2025, highlight a substantial increase in Gross Earnings, which rose to N315.4 billion, marking a year-on-year growth of 64.2% from N192.1 billion in the same period last year. Growth in interest income was primarily led by 38.6% yoy (7.4% ytd) expansion in the 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,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc, 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 show a marked improvement with Total Deposits growing by 11.1% ytd to N6.6tn from N5.9tn in December 2024, driven by 10.6% ytd growth in low-cost deposits to N6.1tn, which represents 92.2% of total customer deposits. Local currency deposits increased by 2.0% ytd while foreign currency deposits increased by 21.4% from $1.9bn in December 2024 to $2.3bn.

    Net Loans and Advances increased by 5.0% ytd to N4.6tn. The growth in the bank’s Loan Book was skewed to LCY Loans as cost of risk declined to 0.6% from 1.5% in 2024FY.

    “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.

    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.

  • SIFAX Group Champions Women’s Leadership at 2025 International Women’s Day Event

    SIFAX Group Champions Women’s Leadership at 2025 International Women’s Day Event

    SIFAX Group has reaffirmed its commitment to gender inclusion and leadership advancement with a high-level International Women’s Day (IWD) 2025 event, themed “Beyond Glass Ceilings: Breaking Boundaries, Redefining Success”.

    Held at the Lagos Marriott Hotel, the event convened senior executives, industry professionals, and thought leaders to explore practical strategies for empowering women and dismantling systemic barriers in corporate spaces.

    At the center of the discussions was a keynote address by Dr. (Mrs.) Ajoritsedere Awosika, OON, MFR, mni, Honorary Consul of the Czech Republic and former Chairman of Access Bank PLC. In her keynote address, Dr. Awosika challenged women to actively pursue leadership roles while emphasizing the importance of continuous self-development.

    “Success is not handed out—it is earned,” she remarked, stressing that women must position themselves for opportunities and remain adaptable in the face of technological changes. She further highlighted the need for organizations to move beyond tokenism and adopt structural changes that enable women to lead effectively.

    A Corporate Commitment to Gender Inclusion

    SIFAX Group’s leadership used the event to underscore its ongoing efforts to promote gender equity across its subsidiaries. In her remarks, Mrs. Wunmi Eniola-Jegede, Group Coordinating Director, pointed to the growing number of women holding key leadership positions within the organization as evidence of SIFAX Group’s inclusive culture.

    “At SIFAX Group, we don’t just talk about gender inclusion—we prioritize it. The subsidiaries that are thriving are often led by women, and we are committed to ensuring that every qualified woman has the opportunity to lead,” she said.

    The company’s chairman, Dr. Taiwo Afolabi, reinforced this message in a goodwill address, stating that SIFAX Group views gender inclusivity as a business imperative, not a symbolic gesture.

    “We recognize that women bring immense value to leadership and decision-making. At SIFAX Group, we are committed to ensuring that talent, not gender, determines success”, he said.

    Beyond corporate statements, the event featured an in-depth panel discussion with senior female leaders from SIFAX Group, focusing on the realities women face in male-dominated sectors and the structural support needed to foster their growth. The panel highlighted mentorship, continuous learning, and deliberate policy shifts as key drivers of gender equity.

    The IWD 2025 event aligns with SIFAX Group’s broader strategy to advance gender inclusion through leadership development programs, mentorship initiatives, and deliberate talent promotion across its subsidiaries.

    As the event wrapped up, the message was clear: women must not only demand a seat at the table but also be ready to lead when they get there. With a renewed sense of purpose, attendees left inspired to challenge stereotypes, develop leadership skills, and break barriers in their respective fields.

  • Wigwe University appoints Hon. Justice Amina Adamu Augie, CON, JSC (Rtd) as Pro-Chancellor, and Prof. Marwan Al-Akaidi as Substantive Vice-Chancellor

    Wigwe University appoints Hon. Justice Amina Adamu Augie, CON, JSC (Rtd) as Pro-Chancellor, and Prof. Marwan Al-Akaidi as Substantive Vice-Chancellor

    The Board of Trustees of Wigwe University appoints Honourable Justice Amina Adamu Augie, CON, JSC (Rtd) as the Pro-Chancellor/Chairman, Governing Council and Prof. Marwan Al-Akaidi CEng, CTIP, FBCS, FIET, FIAP, SIEEE  and Vice-Chancellor of the institution.

    The announcement was made in a statement signed by the Chairman, Board of Trustees, Prof. Fabian Ajogwu, OFR, SAN on Thursday, February 19, 2025.

    According to Prof. Ajogwu, OFR, SAN, these significant developments underscore the institution’s commitment to academic excellence, leadership, and innovation. 

    As the Pro-Chancellor and Chairman of the Governing Council, Honourable Justice Augie, CON, JSC (Rtd) will succeed Professor Julius Okojie, OON, the former Pro-Chancellor of the University. Meanwhile, Professor Al-Akaidi has been confirmed as the substantive Vice-Chancellor after serving in an acting role as well as Dean of the College of Science and Computing and Deputy Vice-Chancellor responsible for research and innovation.

    Honourable Justice Augie, CON, JSC (Rtd), is a distinguished jurist and former Justice of the Supreme Court of Nigeria. She obtained a Bachelor of Laws degree from the University of Ife, Ile-Ife, in 1977 and subsequently became a barrister and solicitor of the Federal Republic of Nigeria in 1978 after attending the Nigerian Law School. She later enrolled at the University of Lagos to pursue her Master of Laws (LLM) in criminology between 1986 and 1987. Her career shifted focus to academia, where she served as an assistant lecturer at Ahmadu Bello University. From 1984 to 1988, she worked as a law lecturer at the Nigerian Law School, teaching a course on evidence.

    In 1988, Honourable Justice Augie, CON, JSC (Rtd) began her judicial career and gradually advanced through the ranks. She was first appointed as Chief Magistrate in the Sokoto State Judiciary, until her appointment as a Judge of the High Court in 1992, a position she held until her elevation to the Court of Appeal in 2002. As a Justice of the Court of Appeal, she served in various divisions for fourteen years and rose to become Presiding Justice. In 2016, she was appointed as a Justice of the Supreme Court, making her the sixth female Supreme Court Justice out of 104 Supreme Court Justices in Nigeria. She is esteemed for her unwavering integrity, insightful judgments, and commitment to justice.

    The Board noted that her exceptional leadership, integrity, and wealth of experience will be invaluable in guiding the University toward its strategic goals and upholding its core values of excellence, innovation, and service.

    Professor Marwan Al-Akaidi (CEng, CITP, FBCS, FIET, FIAP, SIEEE) obtained a BSc and a Master of Science degree in Digital Communications Systems from Loughborough University (UK) and subsequently earned his doctorate from the same institution, specialising in Optical and Communications Engineering in 1988.

    Professor Al-Akaidi is a distinguished academic and visionary leader. His extensive experience in higher education, research, and innovation will be beneficial in fulfilling the University’s mission and vision. He has pioneered a variety of educational innovations, including blended, online, and e-learning within the United Kingdom and MENA region, as well as introducing MOOCs in the Middle East, thereby revolutionising access to education. He has supervised over 45 PhD/MPhil students and over 100 MSc students. Additionally, he has authored over 300 publications in prestigious international journals and conferences, served as Chief Editor for over 7 international journals, and held editorial roles in more than 40 international conferences. He has also occupied various positions in the UK and the MENA region, including Head of the School of Engineering & Technology, Dean of Computing, Vice President, and Provost.

    According to the board, his appointment marks a new chapter in the University’s journey to fostering a culture of academic rigor, scientific discovery, and entrepreneurial spirit.

  • Iremide Ogunyemi wins Fidelity Bank’s ‘Read2Lead’ Writing Competition

    Iremide Ogunyemi wins Fidelity Bank’s ‘Read2Lead’ Writing Competition

    A student of The Ambassadors’ College, Ota, Ogun State, Miss Iremide Ogunyemi, has won N2 million cash, a publishing deal worth N2 million and another N2 million to upgrade her school’s library after emerging the star prize winner of the inaugural edition of the Fidelity Bank organized Read2Lead writing competition. This was disclosed at the competition’s prize presentation event held in Lagos over the weekend.

    Welcoming guests to the event, Mrs. Pamela Shodipo, the Executive Director of South Directorate, Fidelity Bank Plc, who represented Dr. Nneka Onyeali-Ikpe, OON, the bank’s Managing Director/Chief Executive Officer, said the initiative was created to unlock the creative potentials of students and help them become better positioned for successful careers.

    “All over the world, young people are driving change through innovation and Nigeria is no exception. As a Bank, we believe in the transformative power of education in changing the fortunes of any nation. It is this belief that led us to organize the Read2Lead initiative. By fostering the fundamental yet crucial skill of reading and writing from a young age, we aim to empower children to face academic challenges confidently and solve life problems skillfully.

    “The Read2Lead initiative, therefore, encapsulates our approach to instilling a culture of reading and writing among young people. As highlighted by the esteemed American journalist, critic, and social reformer, Margaret Fuller, “Today a reader, tomorrow a leader”; we believe that igniting our youths’ imagination early can unlock their potential and set them on a path to success”, explained Onyeali-Ikpe.

    The prize presentation ceremony had in attendance the representative of the Ogun State Commissioner of Education, management staff of Fidelity Bank Plc, the top 30 students from the competition, their parents, teachers, colleagues and media personalities.

    “When I started, I didn’t know I would emerge a finalist in the competition. I just decided to participate because I love writing. This was the first competition that I saw that asked for a fictional essay. As that is what I like, I decided to write. I want to thank Fidelity Bank for coming up with this initiative as it is a really good and creative competition”, disclosed an elated Miss Ogunyemi.

    In a surprising twist of events, Miss Mfeheke Okoko and Miss Daniella Orji, also of The Ambassadors’ College, Ota, Ogun State, took home cash prizes for N1.5million and N1million for emerging the first and second-runners up respectively in the competition which saw students from across Nigeria compete in three phases of writing challenges.

    In the first stage of the initiative, tagged, “The National Writing Showdown”, over 3,000 students were tasked with a creative writing task for a spot among the top 150 writers.

    In the second stage known as “The Sweeta Writing Mastery”, the top 150 participants were given a novel to read and requested to write an alternate ending for the book for chance to join the top 30 finalists.

    In the third and final stage themed, “The Author’s Workshop”, the top 30 students were enrolled in an immersive writing boot camp anchored by experienced writers and facilitators who selected the top three finalists.

  • Fidelity Bank Stock Record Over 20% Growth Following Combined Offer

    Fidelity Bank Stock Record Over 20% Growth Following Combined Offer

    Growing investor confidence and strong market participation have continue to boost optimism about Fidelity Bank’s stock as the bank experienced a remarkable 20% surge on the Nigerian stock market, with its share price surpassing the N13 mark by the third week of September. This upward trend follows the bank’s combined offer, which included a Public Offer and Rights Issue launched on June 20, 2024.

    The combined offer consisted of 10 billion ordinary shares priced at N9.75 for the public and 3.2 billion shares at N9.25 for existing shareholders, collectively raising N127.1 billion. After a consolidation period from June to August, coinciding with the close of the combined offer, Fidelity Bank’s shares have gained over 20% month-to-date (MtD) in September.

    Fidelity Bank has maintained a robust bullish trajectory since August 2018, when its stock dipped below N2. Since then, it has surged by more than 680%. The bank started trading in 2024 at N10.85, with 900 million shares exchanged. However, uncertainties related to recapitalization efforts among major Nigerian banks led to a temporary decline to N9 per share in April. Despite this setback, the stock regained its upward momentum after touching a low of N9.00.

    Following the completion of the combined offer in August, Fidelity Bank’s share price climbed once again, gaining over 20% by mid-September. A key factor contributing to this latest surge is the successful combined offer, which paves the way for an upcoming private placement.

    The Fidelity Bank combined offer, which was the first in the current recapitalization phase in the banking industry, saw significant demand, prompting an extension that added 8.2 billion shares. Of these, 5 billion were sold through the Public Offer and 3.2 billion via the Rights Issue. This high demand resulted in increased market activity, with over 2 billion shares traded in June and 3 billion in July.

    As the combined offer concluded on August 12, the stock entered a consolidation phase, but trading activity picked up notably by mid-September. Weekly trading volumes reached 27 million shares, pushing the stock past the N13.00 threshold and sustaining its upward trend.

    In a recent note to investors, the bank’s Managing Director, Dr. Nneka Onyeali-Ikpe,OON expressed gratitude for the strong response to the capital raise, stating that, “With the conclusion of the Combined Offer, I am delighted to announce that we have met and surpassed our capital-raise target for the first phase of this exercise.”

    “My profound gratitude goes to our customers, new investors and existing shareholders for supporting us in this journey.  We will forever be grateful for the support we received during this capital-raise exercise.

    “Our deepest thanks go to our regulators namely the CBN, Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX): the CBN for its vision of recapitalizing Nigerian banks to ensure banks have sufficient capital to sustain a $1tn economy in the near future and improve the overall confidence in the banking industry; SEC and the NGX for the role they played in ensuring the seamless execution of this first phase of our recapitalization plans.”

  • SEC, NGX Group, ASHON, and Others Praise 13-year of Oscar Onyema stint at the Capital Market

    SEC, NGX Group, ASHON, and Others Praise 13-year of Oscar Onyema stint at the Capital Market

    The Securities & Exchange Commission (SEC), Nigerian Exchange Group Plc, Association of Securities Dealing Houses of Nigeria (ASHON) among other key stakeholders on Tuesday celebrated the outgoing Group Chief Executive Officer of Nigerian Exchange Group Plc (NGX Group), Mr. Oscar N. Onyema, OON for his contribution to Nigerian capital market in the past 13-year.

    Onyema, who was first CEO of the Nigerian Stock Exchange (NSE) for 10 years and the Group Chief Executive Officer of Nigerian Exchange Group Plc (NGX Group) for 3 years, saw his tenure ended 2023 and was celebrated on the floor of NGX by NGX Group, Chartered Institute of Stockbrokers (CIS), Association of Securities Dealing Houses of Nigeria (ASHON), Central Securities Clearing System Plc (CSCS), NG Clearing, among others.

    The Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda at the ceremony stated that Mr. Oscar Onyema’s visionary leadership has not only stirred NGX Group through significant milestones but also spared a successful demutualization, marking a pivotal moment in the Nigeria’s financial landscape.

    The DG, who was represented by Mrs. Hafsat Rufai, Director, SEC Lagos Office stated that under Onyema guidance, NGX Group consistently showcased innovation and resilience.

    In his welcome speech, the Group Chairman, NGX Group, Alhaji (Dr) Umaru Kwairanga congratulated Mr. Oscar Onyema on the completion of his remarkable leadership term at the helm of NGX Group.

    “It cannot be stressed enough that Mr. Oscar Onyema contributed immensely to modernisation of the Exchange as we have it today. NGX Group in its current state is far more advanced technologically, strategically, and operationally than it was when he resumed in 2011,” he said.

    He highlighted some of his achievements that include the launching of the Exchange trading platform,  X-GEN that propel the Exchange into the modern era; designing a robust Business Continuity Plan, which saw the Exchange seamlessly maintained remote trading for over two years in the wake of Covid-19 pandemic, and implementing a world-class regulatory regime focused on fairness, stability, collaborative rulemaking, risk-based supervision, and robust corporate governance standards.

    “This steadfast commitment to regulation and transparency restored investor confidence and positioned the Exchange as a credible, trusted platform,” Kwairanga said.

    He added further that, “Perhaps most notably, Mr. Oscar Onyema ‘s visionary stewardship has created immense value for NGX Group’s shareholders.

    “Under his tenure, the Group has experienced an incredible turnaround, with Return on Equity reaching an impressive 13.8per cent for the 2023 fiscal year and payment of N1.5billion in dividends to shareholders – a resounding affirmation of the Group’s operational efficiency and strategic direction under his exemplary leadership.

    Kwairanga, thus, expressed gratitude to Mr. Oscar Onyema for his pioneering vision, transformative accomplishments and the indelible mark he has etched on the Nigerian capital market landscape.

    In acknowledging Mr. Oscar Onyema’s leadership, the Group Chief Executive Officer, NGX Group, Mr. Temi Poopola, emphasized the profound impact of Mr Onyema’s leadership style. He commended his ability to navigate diverse perspectives with respect, having prioritized the broader interests of the capital market. The Group CEO expressed gratitude for the numerous sacrifices, both personally and for the organization.

    In his part, the former President of NSE, Dr. Oba Otudeko said Mr. Oscar N. Onyema’s professionalism is outstanding and his unusual confidence, very convincing to deliver and his presence, always humble and noble. According to him, the Oscar’s uniqueness was fairly evident during the Council’s search for a CEO, notching him the job.

    The Chairman, ASHON, Mr. Sam Onukwue at the “Pull-Out Ceremony” stated that during the 13-year tenure of Oscar Onyema, technology on the Exchange was upscaled, new minimum operating standards for market operators was introduced, among other transformational initiatives aimed at achieving best international practices were also pursed under his leadership.

    “Of particular note was the impact of the demutualization of the Exchange during his tenure. This was no mean feat given the history of previous attempt,” he said.

  • Appointment: NGX Group Announces Mr. Temi Popoola and Mr. Jude Chiemeka as GMD/CEO Designate of Nigerian Exchange Group Plc and Acting CEO of Nigerian Exchange Limited

    Appointment: NGX Group Announces Mr. Temi Popoola and Mr. Jude Chiemeka as GMD/CEO Designate of Nigerian Exchange Group Plc and Acting CEO of Nigerian Exchange Limited

    …Mr. Oscar N. Onyema, OON set to retire

    Further to the receipt of the Securities and Exchange Commission (SEC)’s No-Objection to the announcement of the appointment, Nigerian Exchange Group Plc (NGX Group) is pleased to announce the appointment of Mr. Temi Popoola as GMD/CEO designate effective 1 January 2024 subject to SEC’s formal approval of the appointment.

    Mr. Jude Chiemeka has also been appointed as the Acting Chief Executive Officer (CEO) of Nigerian Exchange Limited (NGX) effective 1 January 2024.

    The current GMD/CEO, Mr. Oscar N. Onyema, OON will finish his tenure on 31 March 2024 and ahead of this, he will embark on his terminal leave effective 1 January 2024.

    Mr. Temi Popoola is currently the CEO, NGX and a member of NGX Group Executive Committee chaired by Mr. Onyema. He is a successful C-suite leader whose unique blend of business acumen, financial expertise, global market growth and operational insight has earned him a reputation built on verifiable career achievements. He began his career in London as a portfolio manager focused on African energy markets and worked for several years as a senior equity derivatives trader with Bank of America Securities in New York, where he drove firm profitability by providing derivative solutions to US corporations and family offices.

    A Wall Street-trained investment banker, Mr. Popoola joined NGX in 2021 as CEO from Renaissance Capital (Rencap) where he was the Managing Director and CEO for West Africa. At NGX, he oversaw and supported its continuous growth, profitability, and success by providing strategic market insight and leadership.

    Mr. Popoola graduated with a first-class degree in Chemical Engineering from the University of Lagos and holds a Masters’ degree from Massachusetts Institute of Technology (MIT). He is a Chartered Financial Analyst (CFA) and a Chartered Stockbroker (CIS).

    Mr. Chiemeka is currently the Executive Director of Capital Markets responsible for Trading, Products Development and Listings at NGX. He is a member of NGX Executive Committee chaired by Mr. Popoola. He has over twenty- nine (29) years’ experience in Securities Trading and Asset Management across markets in Africa. Prior to joining NGX, he was the MD/CEO of United Capital Securities, a subsidiary of United Capital Plc listed on NGX.

    He is a Fellow and Council Member of the Chartered Institute of Stockbrokers (FCS), a Member of the Institute of Directors (IOD), a Fellow of the Association of Investment Advisers and Portfolio Managers and an Associate of the Certified Pension Institute of Nigeria. He is also an alumnus of the University of Lagos, Lagos Business School and the University of Oxford, UK.

    Commenting on the appointments, Alhaji (Dr.) Umaru Kwairanga, the Chairman of NGX Group Plc, stated, “I am delighted to announce these pivotal changes in the leadership of NGX Group which is a testament to effective succession planning. I would like to express my profound gratitude to Mr. Onyema for his stellar leadership first as the CEO of The Nigerian Stock Exchange from 2011 – 2021 and thereafter as the GMD/CEO of NGX Group Plc from 2021 -2024.

    Mr. Onyema led the stabilization, growth, demutualization and restructuring of The Nigerian Stock Exchange to NGX Group Plc, a public company limited by shares, which is a significant milestone in the organisation’s history. He also led the listing of the Company on the main board of NGX.

    I have no doubt in Mr. Popoola’s capability to successfully continue the legacy Mr. Onyema has created, and take NGX Group to greater heights. I also firmly believe in Mr. Chiemeka’s ability to seamlessly assume leadership at NGX from Mr. Popoola, building upon his impressive achievements and fostering continued growth in the capital market.”

    The GMD/CEO, Mr. Oscar N. Onyema, OON also commented as follows: “I am deeply appreciative of the privilege to have led The Nigerian Stock Exchange as its CEO and later, Nigerian Exchange Group Plc as its GMD/CEO.

    I extend my best wishes to Mr. Popoola, and have full confidence in his capabilities to continue the legacy and growth of NGX Group. I am grateful for the support and dedication of the entire team at NGX Group and capital market stakeholders throughout my tenure. Together, we drove significant development in the African capital markets, and I am proud of the various accomplishments we have achieved since 2011.

    As I step into a new phase, I am committed to ensuring a smooth transition and look forward to witnessing the continued growth and prosperity of NGX Group under Mr. Popoola’s leadership. The future is indeed promising.”

    The GMD/CEO designate, Mr. Popoola commented as follows: “I step into this new role at NGX Group Plc with a deep sense of responsibility and enthusiasm. I extend my appreciation to Mr. Onyema, for his exceptional leadership during his tenure and to the Board of Directors for the confidence reposed in me.

    The modernization of the Nigerian market infrastructure space and the demutualization and restructuring of NSE under Mr. Onyema’s guidance have been instrumental in shaping NGX Group, and I am honoured to continue this legacy. I am fully committed to building on the foundation laid out and taking NGX Group to greater heights. With the support of the dedicated team and in collaboration with the esteemed leadership, I am optimistic about the exciting opportunities and challenges that lie ahead.

    I am also very confident in Mr. Chiemeka’s ability to successfully steer the helm of affairs at NGX and propel NGX to greater heights”.

  • Fidelity Bank Plc Signs the UN Principles for Responsible Banking

    Fidelity Bank Plc Signs the UN Principles for Responsible Banking

    Fidelity Bank Plc has become an official signatory of the UN Principles for Responsible Banking (PRB) – a single framework for a sustainable banking industry developed through a collaboration between banks worldwide and the United Nations Environment Programme Finance Initiative (UNEP FI).

    The Principles are the leading framework for ensuring that banks’ strategy and practice align with the vision society has set out for its future in the UN Sustainable Development Goals and the Paris Climate Agreement. Banks who have signed the Principles commit to be ambitious in their sustainability strategies, working to mainstream and embed sustainability into the heart of their business, while allowing them to remain at the cutting-edge of sustainable finance.

    Under the Principles, signatory banks identify and measure the environmental and social impact resulting from their business activities, set and implement targets where they have the most significant impact, and regularly report publicly on their progress. The Principles provide a framework for banks to systematically understand the risks and seize the opportunities arising from the transition to more sustainable economies.

    “As long-time signatories to UNEPFI, signing onto the PRB is the next step to show our commitment to sustainability. Sustainability is central to our corporate strategy as a bank and joining the Principles further affirms our determination to increasing our positive impacts in all aspects of sustainability. The PRB aligns with our sustainability principles and the bank is delighted to join the global community of signatories championing sustainable development around the world”, commented Dr Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer, Fidelity Bank Plc.

    Signatories to the Principles take on a leadership role, demonstrating how banking products, services and relationships can support and accelerate the changes necessary to achieve shared prosperity for both current and future generations, building a positive future for both people and planet. These banks also join the world’s largest global banking community focused on sustainable finance, sharing best-practice, and working together on practical guidance and pioneering tools of benefit to the entire industry.

    This is a journey of unprecedented scale and scope at a time when such ambition is urgently needed to address the major planetary crises of climate change, nature loss, pollution and social issues. Together, these collective efforts will ensure that profitability goes hand in hand with a sense of purpose.

  • Onyema Recognised for West African Capital Market impact

    Onyema Recognised for West African Capital Market impact

    Oscar N. Onyema, OON, has been recognised by the West African Securities Regulators Association (WASRA) for his contribution and support in shaping the integration of capital markets in the region and for being the first Chairman of the West African Capital Markets Integration Council (WACMIC).

    Onyema was given the recognition at the recently completed West Africa Capital Market Conference held in Lagos on the 25th and 26th of October 2023. The Group CEO of NGX Group was the President of the African Securities Exchanges Association (ASEA) between 2014 and 2018.  During his tenure as the pioneer chairman of WACMIC, he led the design of the journey map for Phase 1 to 3 of capital markets regional integration.

    This period also saw the council securing funding partnership with the African Development Bank (AfDB) for the project. The Phase 1 sponsorship access was implemented, and the first cross-border transaction happened during his chairmanship.

    As the Chief Executive Officer of Nigeria Stock Exchange (NSE), Onyema is also credited for his leadership role in the transition of the Exchange into a demutualised, for-profit entity limited by shareholding from its previous mutual, limited by guarantee structure.