Business
Asian Banker Awards: FirstBank Maintains Dominance in SME Banking Across Nigeria, Africa
Through a legacy of excellence and Innovation, First Bank of Nigeria Limited, the country’s oldest and most distinguished financial institution, has once again solidified its reputation as a leader in the banking industry. The Bank was recently crowned the Best SME Bank in Nigeria and the Best SME Bank in Africa at the 2025 Asian Bankers Awards for the second year running. The Asian Banker Global Excellence in Retail Finance Awards are renowned for their rigour, prestige and transparency, celebrating excellence across financial services, technology, risk management and transaction finance.
These prestigious recognitions reaffirm FirstBank’s unwavering commitment to Small and Medium Enterprises (SMEs), a sector that serves as the backbone of Nigeria’s and Africa’s economy. For over a century, First Bank of Nigeria Limited has been instrumental in the nation’s financial evolution, pioneering innovative banking solutions and fostering economic growth.
The awards underscore the efficacy of its strategic focus on empowering SMEs through tailored support programs and an inclusive economic environment where small/medium businesses can thrive and also grow to compete globally. Winning these distinguished awards is no small feat. FirstBank stood out among its competitors across the continent due to several of the Bank’s key initiatives which have effectively transformed the SME banking landscape in all the countries where the bank operates.
Some of the Bank’s Tailored Financial Solutions include customised loans and flexible credit facilities to cater to SMEs at various growth stages. From microloans for startups to large-scale funding for expanding businesses, FirstBank has ensured that small businesses have access to the capital they need to thrive.
The bank’s SMEConnect platform, a digital hub that provides SMEs with access to financial resources, business advisory services, and networking opportunities, has been a game-changer. This initiative has helped thousands of entrepreneurs navigate challenges and scale their operations effectively.
Beyond financial support, FirstBank has invested in entrepreneurship training programs to equip SMEs with knowledge in financial literacy, business management, and technology adoption. Partnerships with organisations like the International Finance Corporation (IFC) and the Nigerian government have further strengthened these initiatives.
Women-Led and Youth Entrepreneurship Support is another tool which he Bank has deployed to its benefit. By recognising the role of women in economic development, the Bank has a dedicated product – FirstGem, which provides financial support to women entrepreneurs. In addition, the Retail Temporary Overdraft (RTOD) product, tailored to SMEs aims to provide financial support for their businesses. These strategic efforts have set FirstBank apart, positioning it as the ‘go-to’ financial partner for SMEs across Africa.
The recognition of FirstBank as the Best SME Bank in Nigeria is not just a win for the Bank but also for the entire Nigerian economy. SMEs account for over 90% of businesses in Nigeria and contribute significantly to employment and GDP. By providing robust financial solutions and business support, FirstBank is fostering job creation, innovation, and sustainable economic growth. With access to better funding, training, and technology, more SMEs can scale their operations beyond local markets and compete on the global stage. This award also highlights Nigeria’s potential as a hub for entrepreneurship and business expansion.
FirstBank’s achievement is expected to set a new benchmark for banking excellence in Africa. Other financial institutions will likely follow suit, improving their SME-focused initiatives, leading to a more vibrant and competitive business environment.
FirstBank will continue to champion SME growth, affirm its legacy as a trusted financial partner whose commitment remains unshaken. This award serves as both recognition of past efforts and a call to push boundaries further in supporting African businesses.
For small business owners, aspiring entrepreneurs, and the Nigerian economy, FirstBank’s success story is a beacon of hope, proving that with the right financial backing, the possibilities are limitless for the average businesses.
For the African continent, First Bank of Nigeria Limited’s win at the Asian Banker Awards for Excellence in Retail Finance Global Award 2025 marks a significant milestone in African banking history. It showcases the Bank’s relentless commitment to empowering SMEs, driving digital transformation, and fostering economic prosperity across the continent. As the Bank continues to innovate and expand its reach, the future for SMEs in Nigeria and Africa looks brighter.
This piece is contributed by Tosin Ajayi
Nigeria’s leading telecommunications company, Globacom, has announced enhancement of its data bundles to give subscribers more data volume at the same affordable prices.
The upgrade reinforces the company’s commitment to providing superior value and exceptional customer satisfaction.
The upgraded Glo Data Bundles are enhanced versions of the existing daily, weekly, and monthly plans, giving subscribers more data at no additional cost.
These improvements offer users greater freedom and convenience to enjoy their favourite online activities from streaming and gaming to social media, video calls, and more.
For daily users, the ₦100 plan has been upgraded from 105MB to 125MB, giving light internet users even more data to browse, chat, and stream short videos conveniently.
The weekly bundles have also received notable boosts, such as the ₦1,500 plan, which now offers 6GB instead of 5.9GB, enabling subscribers to stay connected longer.
Heavy data consumers will also enjoy remarkable value on the monthly plans. The ₦2,000 bundle now gives 6.25GB, while the ₦10,000 package has been enhanced from 38GB to 42GB, allowing users to do more from video streaming and large file downloads to remote work and virtual meetings.
Students are not left out, as the Campus Booster Plan has been upgraded with higher data allowances, ensuring seamless access to academic resources and social networks while on campus.
Globacom noted that the revised bundles are available to all Glo customers prepaid, postpaid, and hybrid and can be activated by dialing *312#, using the Glo Café app (available on Android and iOS), or visiting hsi.glo.com.
The company added that subscribers can use, share, or gift data through *312# or the Glo Café app. Customers will also continue to receive data usage alerts at 75% and 100% consumption levels to help monitor usage effectively.
Unused data is automatically rolled over upon renewal before expiry or when a new plan is purchased within the grace period (ranging from one to seven days, depending on the plan).
Globacom reaffirmed its commitment to empowering Nigerians with reliable and affordable data access, urging customers to take advantage of the revised data bundles that combine affordability, quality, and more browsing power ensuring every Glo subscriber enjoys more data without paying more.
Fidelity Bank Plc has congratulated Air Peace on the successful launch of its maiden direct flight from Lagos to London Heathrow, describing the milestone as a significant achievement for Nigeria’s aviation sector and a testament to the power of indigenous partnerships.
The commendation was delivered by Dr. Nneka Onyeali-Ikpe, managing director of Fidelity Bank, during a special event held in Lagos to celebrate the airline’s expansion into the European market.
“This is not just a win for Air Peace, but a win for Nigeria,” Onyeali-Ikpe said. “It reflects the strength of home-grown businesses and the impact of strategic financial support in enabling national champions to thrive on the global stage.”
Nigeria CommunicationsWeek reports that Fidelity Bank has played a pivotal role in Air Peace’s growth, providing early financial backing and advisory services that helped the airline become the largest carrier in West Africa. The bank continues to support Air Peace through payment processing and other financial services
The launch of the London route marks a new chapter for Air Peace, which now joins a select group of African airlines operating direct flights to Heathrow.
The development is expected to boost tourism, trade, and connectivity between Nigeria and the United Kingdom.
Speaking at the event, Allen Onyema, Chairman of Air Peace, expressed gratitude to Fidelity Bank for its unwavering support and reaffirmed the airline’s commitment to excellence and service.
“This partnership has been instrumental in our journey,” Onyema said. “We are proud to fly the Nigerian flag across international skies.”
Industry stakeholders present at the event praised the collaboration between the two companies as a model for sustainable business growth and national development.
The Group Chairman, United Bank for Africa (UBA) Plc, and Heirs Holdings Limited, Tony Elumelu, CFR has challenged African policymakers to create environments that reward enterprise and unlock the continent’s vast potential. He said this much while delivering a keynote address during the Abuja Business & Investment Summit & Expo 2025, which held at the Bola Ahmed Tinubu International Conference Centre Abuja on Wednesday, said “Predictable regulation attracts long-term investment, while inconsistency drives it away. He therefore urged governments to see private sector success as the foundation of national prosperity.
Elumelu who underscored the critical role of the private sector as the true engine of transformation, accounting for over 70% of Africa’s GDP and 80% of employment, also urged African leaders to create a sustainable environment to attract long-term investment.
Elumelu who was speaking while delivering the keynote address during the Abuja Business & Investment Summit & Expo 2025, which held at the Bola Ahmed Tinubu International Conference Centre Abuja on Wednesday, said “Predictable regulation attracts long-term investment, while inconsistency drives it away. He therefore urged governments to see private sector success as the foundation of national prosperity.
Citing his group’s transformative investments in the Federal Capital Territory, including the revitalisation of the Transcorp Hilton Abuja, the launch of the Transcorp Event Centre, and ongoing reforms in the Abuja Electricity Distribution Company (AEDC), Elumelu pointed out that these projects illustrate how purposeful private capital can power real development.
Speaking on the theme, “Empowering Sustainable Growth: Unlocking Potential in Emerging Markets”, he called for a new social contract between business and government, grounded in trust, transparency, and partnership, adding that sustainable progress requires policies that convert investor confidence into nation-building.
While advocating policy stability to champion the pivotal role of the private sector in unlocking Africa’s vast economic potential, Elumelu, who is also the Founder of the Tony Elumelu Foundation, reiterated that no nation has ever achieved sustained prosperity without a vibrant and virile private sector.
“Across Africa, the private sector contributes over 70% of our continent’s GDP and over 80% of total employment. But this is not just about numbers; it’s about influence and initiative. The private sector is reimagining what is possible on our continent,” he stated.
He noted that Africa’s transformation will be led by investing long-term in critical sectors to unlock and catalyze prosperity and opportunities for all.
“How can we expect foreign investors to invest in us, in our economies and countries, if we don’t invest in our own economies? Make your money, but please bring it and invest locally. It will be a huge disservice and act of unpatriotism to save your money in economies that already have so much,” Elumelu challenged participants during the event.
He took time to commend the Minister of the Federal Capital Territory, Nyesom Wike, and Minister of State FCT, Dr. Mahmoud Mariya, for the infrastructural drive within the FCT, emphasizing the importance of collaboration.
In her presentation, the Minister of State for the FCT, Dr. Mariya Mahmoud who expressed profound gratitude to Tony Elumelu and fellow investors for their faith in Abuja, reiterated the FCTA’s unwavering determination to intensify its infrastructural drive, ensuring the capital remains the premier investment destination in Nigeria and across the continent.
The annual ABISummit2025 serves as a critical platform to turn this ambitious vision into concrete partnerships and actionable strategies for empowering sustainable growth across Nigeria and the wider African continent.
