Category: Business

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…

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Cascador, Nigeria’s premier accelerator for mid-stage entrepreneurs, has announced a landmark partnership with Sterling Bank to launch a bold new debt funding model to unlock growth for Africa’s most promising ventures. Backed by a $2 million Catalytic Fund, the partnership introduces flexible, founder-friendly financing for Cascador alumni; pairing low-interest debt with business mentorship, tailored repayment terms, and dramatically reduced collateral requirements. “This is a breakthrough moment for Cascador and for the entrepreneurs we serve,” said Dave DeLucia, Founder of Cascador. “Through our partnership with Sterling Bank, we’re deploying capital in…

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Shareholders of tier one lender, Fidelity Bank, have applauded the board and management of the bank for delivering an outstanding performance in FY 2024. Speaking at the bank’s 37th Annual General Meeting (AGM) held virtually on Tuesday, April 29, 2025, the National Chairman of The Progressive Shareholders Association, Chief Boniface Okezie, praised the bank, saying, “This is a superlative performance and we the shareholders are grateful to management and staff for giving us a bank to be proud of. It is also important to note that the bank has earned…

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C-One Ventures Platform (C-One) today announced it has entered into an agreement to invest and acquire the licences, technology and select assets of the Nigerian operations of Bankly -a licensed microfinance bank and fintech leader known for bridging financial access gaps across Nigeria’s informal economy. The deal which is subject to regulatory approvals including from the Central Bank of Nigeria, reflects C‑One’s commitment to ensuring stability, protecting customers, and building a more resilient financial services platform. Upon completion, it will see Bankly’s services and talent integrated with complementary offerings from…

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Union Bank of Nigeria has rewarded another set of customers in the ongoing Save and Win Palli Promo 4 campaign. Six lucky customers each won a brand-new motorcycle, and 120 additional winners won cash prizes. The third monthly hybrid live draws were transparently conducted at the Bank’s Sabo, Yaba Branch in Lagos under the supervision of relevant regulatory institutions. For integrity purposes, some of the winners were contacted to congratulate and remind them that the Bank will never call to request or confirm their confidential banking details such as BVN,…

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Polaris Bank has reaffirmed its unwavering support for the National Drug Law Enforcement Agency (NDLEA) in the fight against drug abuse, trafficking, and money laundering in Nigeria and beyond. The pledge was made by the Bank’s Managing Director/CEO, Kayode Lawal, during a courtesy visit by a 15-member NDLEA management team to the Bank’s headquarters in Lagos last Wednesday. Polaris Bank has been a longstanding supporter of NDLEA’s mission, sponsoring advocacy initiatives, and media campaigns, and providing tools and infrastructure to aid the agency’s operations. Speaking during the visit, Mr. Lawal…

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Union Bank of Nigeria, under its Made In Naija initiative, emphasised its commitment to supporting homegrown businesses by recently sponsoring the RISE Business Challenge at the University of Lagos, Akoka, during the 6th Annual Youth Leadership Conference. Dubbed Turning Point 6.0, the Resilience, Innovation, Social Responsibility, and Entrepreneurship (RISE) Challenge is a collaboration between Union Bank and the conference convener, Mr Olusegun Odufuwa, to empower youth-led businesses with financial and mentorship support through a pitch competition. Targeted at uplifting young men and women with requisite entrepreneurial skills, the event aligns…

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Tier one bank, Fidelity Bank PLC, has been named “Nigeria’s Best Private Bank” at the prestigious Euromoney Awards 2025. The recognition was formally unveiled at the awards ceremony held recently at The Savoy in London. The Euromoney Awards for Excellence are prestigious annual honors and a benchmark for excellence in the global banking and finance industry. Established by Euromoney magazine, the awards highlight outstanding performance, innovation, leadership, and service excellence across various financial sectors and regions. Commenting on the award, Managing Director and Chief Executive Officer of Fidelity Bank PLC,…

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In a bold move that resets the rules of engagement in the Nigerian banking sector, Sterling Bank has removed transfer fees on its digital banking platform, OneBank. This decisive move makes Sterling the first major Nigerian bank to forgo earning a cut from customer transactions on its own app. The initiative marks a turning point in the industry and reflects the bank’s deep-rooted commitment to building a future where banking is affordable, accessible, and in tune with the everyday needs of Nigerians. “This is not a gimmick. This is the…

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