Heirs Insurance Group, Nigeria’s fastest-growing insurance group, has announced the winners of the 4th edition of the Heirs Insurance Essay Championship, a nationwide competition promoting financial literacy and academic excellence among secondary school students and educators.

The grand finale, held at the Transcorp Hilton Hotel, Abuja, brought together students, parents, and academic leaders for a celebration of knowledge and creativity. This year’s edition, which attracted over 5,000 entries from junior secondary school students nationwide, was anchored on the topic “The Role of Insurance in Keeping Families Safe and Secure”.

After a rigorous evaluation process by a distinguished panel of academic professionals, independently verified by Deloitte & Touche, 13-year-old Rhema-Love Abraham of Precepts Learning Field, Lagos, emerged as the overall winner, earning a ₦5 million scholarship and a ₦1 million grant for her school.

Bernice Michael of S-TEE High School, Lagos, claimed the second-place position, winning a ₦2 million scholarship, while Afopefoluwa Tofio-Jacobs of D-IVY College, Ogun State, took third place, receiving a ₦1 million scholarship.

This year, Heirs Insurance introduced the inaugural Teachers Prize, to honor teachers promoting insurance awareness within their schools and communities. This initiative was created to democratise access to insurance literacy, working collaboratively with teachers and educators.

Mr. Okpe James Chidi, a teacher at Urban Secondary School, Umuna Orlu, Imo State, emerged as the winner of the Teachers’ Insurance Awareness Prize, with a personal award of ₦1 million cash prize, and a ₦500,000 grant for his school. His project, which deepened students’ understanding of financial literacy and insurance, was praised for its innovation, reach, and measurable impact.

Speaking at the ceremony, Niyi Onifade, Sector Head, Heirs Insurance Group, commended all the participants for their creativity and drive, emphasising the Group’s commitment to nurturing future leaders through education.

He said, “We are proud of every student and teacher who participated in this year’s Essay Championship. Their creativity, curiosity, and dedication reflect the future we envision for our nation; one built on knowledge, innovation, and resilience. At Heirs Insurance Group, we believe financial literacy is a powerful tool for empowerment and transformation”.

The Heirs Insurance Essay Championship is a flagship Corporate Social Responsibility (CSR) initiative of Heirs Insurance Group, created to build awareness of insurance literacy and critical thinking among young Nigerians. The introduction of the Teachers’ Insurance Awareness Prize further demonstrates the Group’s commitment to advancing insurance education and promoting financial inclusion at every level of society.

Fidelity Bank Plc has announced its readiness to begin the disbursement of funds under the National Credit Guarantee Company (NCGC) N5 billion Credit Intervention Scheme.

The initiative is designed to expand access to finance for Micro, Small and Medium Enterprises (MSMEs), as well as businesses owned by women and youths across Nigeria.

This was disclosed by the Managing Director/Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, during the signing of a Memorandum of Understanding (MoU) between the bank and NCGC.

According to Onyeali-Ikpe, the partnership with NCGC represents a significant step in the bank’s ongoing efforts to enhance financial inclusion and stimulate economic growth through increased access to credit. “This guarantee will enable us to further expand financing opportunities for those who need it most, while strengthening our capacity to support businesses across key sectors of the Nigerian economy,” she said.

The facility will cover critical sectors, including food processing, secondary agriculture (such as fish and poultry processing), fashion, green energy, light manufacturing, the agricultural value chain (feed mills and equipment fabrication), export-oriented businesses, and education.

Onyeali-Ikpe highlighted that Fidelity Bank has consistently supported diverse sectors through targeted initiatives such as the Green Energy Financing Programme for renewable energy entrepreneurs, the Fidelity SME Hub for small businesses with a special Creativerse, dedicated to the creative industry, and the Fidelity Bank Education Support Scheme, which provides affordable financing for educational infrastructure and technology upgrades.

She said: “With the backing of the NCGC credit guarantee, we can now extend financing to businesses that have traditionally been excluded from formal credit systems-without compromising our risk standards or operational efficiency.

“While we have supported MSMEs with short-term facilities in the past, this partnership allows us to provide long-term credit facilities that empower businesses to expand sustainably.”

Over the past five years, Fidelity Bank has disbursed over N500 billion in loans to MSMEs, empowering thousands of entrepreneurs and creating sustainable livelihoods.

Also speaking at the event, Managing Director of NCGC, Mr. Bonaventure Okhaimo, emphasised that the organisation was established to bridge the financing gap faced by MSMEs in Nigeria by mitigating lender risks through credit guarantees.

He said: “Although MSMEs are key contributors to Nigeria’s economic development, many of them struggle to secure funding from financial institutions due to perceived high risks.

“Through the credit guarantee scheme, NCGC shares this risk with banks, making it easier for MSMEs to access much-needed capital.”

Okhaimo added that NCGC and Fidelity Bank would also collaborate to provide financial literacy and business management training to MSME beneficiaries, ensuring they have the knowledge and skills to effectively manage their loans and achieve sustainable growth.

The Fidelity Bank-NCGC partnership reinforces both institutions shared commitment to fostering entrepreneurship, strengthening MSMEs, and driving inclusive economic development across Nigeria.

Culled from ThisDay

Africa’s Global Bank, United Bank for Africa (UBA) Plc, is set to reinforce its role in shaping the continent’s financial ecosystem with the launch of its landmark whitepaper.

The whitepaper, titled “Banking on Africa’s Future: Unlocking Capital and Partnerships for Sustainable Growth,” will be unveiled on the sidelines of the World Bank-International Monetary Fund (IMF) Annual Meetings in October 2025 in Washington, D.C., placing Africa’s economic agenda at the heart of global financial discussions.

The document presents a comprehensive and actionable framework for unlocking Africa’s vast economic potential, providing analysis of critical growth pillars including trade facilitation, infrastructure development, digital innovation, climate finance, and inclusive growth, while showcasing strategies for leveraging domestic capital alongside strategic global partnerships to access the continent’s $3.4 trillion single market potential under the African Continental Free Trade Area (AfCFTA).

UBA’s Group Chairman, Tony Elumelu, who emphasised the strategic importance of this whitepaper, explained that over the past few years, the bank has become an active leader in conversations and activities that drive tangible investments to the continent.

“UBA is shifting Africa’s development agenda from talk to action. With this whitepaper, we are championing initiatives that convert strategic dialogue into bankable projects and direct investments. Our commitment to execute these plans for the benefit of the continent and its people cannot be overemphasised,” Elumelu said. “We are committed partners in Africa’s development and sustainability and will continue to provide the capital, the platform, and the network needed to transform Africa’s vast potential into economic growth.”

UBA’s Group Managing Director and Chief Executive Officer, Oliver Alawuba, remarked on the white paper’s significance, highlighting the urgent need for private sector leadership.

“This whitepaper is a call to action and a statement of our capability,” Alawuba said. “It underlines our unique position in facilitating the partnerships and capital flows required to finance Africa’s future, providing the blueprint for action. The document delivers critical insights at a defining moment for Africa’s financial infrastructure.”

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with more than 25,000 employees group-wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France, and the United Arab Emirates, UBA provides retail, commercial, and institutional banking services, leading financial inclusion and implementing cutting-edge technology.