Africa needs to be competitive, says Chike-Obi, Fidelity Bank’s Chairman

Africa needs to be competitive and efficient in its area of strength, according to Mustafa Chike-Obi, the Chairman of Fidelity Bank, who spoke with CNBC Africa’s Kenneth Igbomor on the sidelines of the AFREXIMBANK Annual meetings in Nassau, the Bahamas. Chike-Obi emphasized the importance of focused and sharp leadership in harnessing the continent’s strengths to achieve prosperity. He highlighted the …

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Union Bank Advocates for Environmental Restoration; Commemorates World Environment Day

Union Bank, one of Nigeria’s foremost financial institutions, has reemphasised the need to preserve and restore the global habitat through sustainable environmental practices. This clarion call was made during an event organised in partnership with the Nigerian Conservation Foundation to commemorate this year’s World Environment Day. The program, held on June 5th, 2024, at the Lekki Conservation Centre in Lagos …

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WEMA BANK concludes 1st tranche of Capital Raise Programme

Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has successfully concluded the first tranche of its recapitalisation exercise having secured all relevant regulatory approvals for the allotment of its N40bn Rights Issue which was initiated in December 2023. In view of macroeconomic conditions, the Central Bank of Nigeria (CBN) in March 2024, launched …

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FirstBank partners International Women’s Society (IWS) to empower women

First Bank of Nigeria Limited has partnered with the International Women’s Society (IWS) to empower over 250 widows, in commemoration of the 2024 International Widows’ Day.   The News Agency of Nigeria (NAN) reports that beneficiaries at the Lagos event, tagged “IWS Widows Feast and Empowerment Programme”, received various essential tools, equipment and grants. The items distributed were sewing machines, …

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Who is afraid of Fidelity Bank?

A lot of mischief is going on in the banking sub-sector of Nigeria’s financial ecosystem since the Central Bank of Nigeria (CBN), on June 3, 2024, revoked the banking licence of Heritage Bank Plc. The not-so-subtle campaign by some faceless groups to demarket an otherwise solid financial institution like the Fidelity Bank Plc., however, has not escaped the attention of …

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Addressing False Information Alleging Impending Commercial Banking License Seizure and Bank Closure

Recent industry occurrences have given rise to an influx of false information and propaganda targeted at causing unrest in the Nigerian financial services industry. Among this fake news is a WhatsApp message alleging that a number of commercial banks stand at risk of losing their banking license and being closed; one of the banks mentioned was Wema Bank. We categorically …

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Sterling Bank Implements Blockchain Solution for SPPG

Sterling Bank, a leading financial institution committed to driving innovation and progress, has partnered with the School of Politics, Policy, and Governance (SPPG) to revolutionize credential verification through blockchain technology. This collaboration marks a significant milestone in enhancing the efficiency, security, and accessibility of academic credentials in Nigeria. Acknowledging the pressing need for an effective solution, Sterling Bank has taken …

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Fitch Upgrades Fidelity Bank’s Rating to ‘Positive’

Fitch Ratings has revised the outlook on Fidelity Bank PLC’s LongTerm Issuer Default Rating (IDR) to Positive from Stable, while affirming the rating at ‘B-‘. The credit rating agency has also affirmed Fidelity Bank’s National Long-Term Rating at ‘A(nga)’ with a Stable Outlook. In a statement released on Friday, Fitch said that the outlook revision reflects its, “expectations that the …

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