Business
Corpreneurship: Unity Bank Raises Prize Money to N16m Per Stream
In a bid to boost start-up capital and place more resources at the disposal of aspiring young entrepreneurs in Nigeria, retail lender, Unity Bank Plc has increased the prize money for winners of its flagship Entrepreneurship Development Initiative, known as Corpreneurship Challenge to 16 million Naira per stream.
Consequently, participants who emerge winners in the business pitch will henceforth win N800,000, N500,000, and N300,000 Business grants for the 1st, 2nd, and 3rd positions respectively as against the previous editions in which the sum of N500,000; N300,000 and N200,000 were handed out to respective winners in the Corpreneurship Challenge.
Launched in 2019 with pilots in 4 states – Lagos, Edo, Ogun, and Abuja and scaled to 10 States in 2020, the Corpreneurship Challenge initiative is promoted in partnership with the NYSC Skills Acquisition and Entrepreneurship Development, SAED. The initiative features a business pitch presentation where participants have the opportunity to present their business plans and stand a chance to win business grants.
At the recently concluded edition of the Corpreneurship Challenge for 2024 NYSC Batch A, Stream 1 NYSC service, 30 winners emerged including upcoming entrepreneurs developing innovative solutions in several business value chains such as Poultry farming, Fashion, and Pastries, among others, after participating in the business pitch that took place across the 10 NYSC Orientation Camps in Rivers, Delta, Anambra, Abia, Oyo, Ogun, Kebbi, Niger Sokoto and Zamfara States.
At the Delta State NYSC Orientation Camp in Issele-Uku, Folorunsho Kolade who pitched a Poultry farming business plan emerged as the overall winner to claim the N800,000 grand prize; Samuel Ayodotun. J. whose innovative footwear venture idea, Basky Footprint took the second spot to win the N500,000 cash prize; while another corps member, Udoji Chibuike Peter, whose venture plan on the footwear fashion value chain also emerged as the second runner-up to claim the N300,000 grant.
Also, at the NYSC Orientation Camp at Nonwa Gbam Tai, Rivers State, Dan Betobong Samuel’s business plan on food production claimed the top spot to clinch the N800,000 grand prize; while Linda Christopher’s Lily Pastries’ business plan emerged as the first runner-up to claim the N500,000 grant. Esther Jacob’s business pitch on the poultry value chain emerged as the second runner-up to win the N300,000 cash grant.
Speaking at the NYSC Orientation Camp in Rivers State, the Divisional Head, Retail and SME Banking, Mrs. Adenike Ambimbola commended the participating Corps Members for the quality of their business plans and pledged the Bank’s commitment to sustaining the Entrepreneurship Development Scheme.
While congratulating the winners, Mrs. Ambimbola said, “Unity Bank is proud to associate with the Skill Acquisition and Entrepreneurship Development (SAED) scheme of NYSC in providing interventions and support to budding entrepreneurs with promising ventures through the business grants to help turn these ideas into reality. We recognize the importance of investing in our youths and empowering them to drive positive change within our economy.”
Also speaking at the grand finale held in Delta State NYSC Orientation Camp, Dr. Opeyemi Ojesina, Head of SME Banking, Unity Bank expressed delight at the Unity Bank Corpreneurship Challenge’s growing profile as a leading business incubation platform and catalyst for entrepreneurship development in Nigeria.
He said, “Over the past five years, Unity Bank has steadfastly supported the Corpreneurship Challenge, witnessing its profound impact on youth empowerment and job creation nationwide. The programme has earned a reputation for its innovative approach, seamlessly integrating financial backing, mentorship, and skill development to nurture aspiring entrepreneurs.”
Ojesina further underscored the invaluable mentorship offered to participants, connecting them with seasoned professionals who provide crucial insights, guidance, and a roadmap for success. He emphasized Unity Bank’s belief that true empowerment extends beyond financial aid to the cultivation of entrepreneurial acumen.
So far, Unity Bank has invested over N120 million in the initiative, which has now produced 369 winners since it was launched in 2019.
In 2021, the leadership of the NYSC bestowed on Unity Bank the “Icon of Youth Empowerment” award in recognition of the impact of the initiative.
The Corpreneurship Challenge continues to elicit growing interest among the corps members, attracting over 4,000 applicants and participation in every edition.
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 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.
“This is a superlative performance and we the shareholders are grateful to management and staff for giving us a bank to be proud of,” he said. “It is also important to note that the bank has earned its spot as one of the top 3 dividend-paying financial institutions in Nigeria.”
In his remarks, the Chairman, Zonal Shareholders Committee, Sir Tunji Okelana, recognized the bank’s exceptional leadership, which has seen the bank grow to unprecedented heights.
“The achievements of the current MD have surpassed those of everyone who held that office before her. In addition, staff working with her are assets. They are truly ‘Fidelity, they keep their word’. Without any doubt, I am very happy with the bank”, he declared.
Chairman, Board of Directors, Fidelity Bank Plc, Mr. Mustafa Chike-Obi, said, “Despite the global economic headwinds, we demonstrated exceptional resilience, achieving record breaking growth across all performance indicators, most notably our Profit Before Tax (PBT)”.
The chairman further noted that the bank’s stakeholders were all pleased with the success of the first stage of the capital-raise exercise.
“The oversubscription of 237.9% in the Public Offer and 137.7% in the Rights Issue is a testament to the strength of our brand and the confidence the investing public has in us. Equipped with this vote of trust, we will proceed swiftly and conclude the second tier of our capital-raise exercise”.
Managing Director/Chief Executive Officer, Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe, in her statement to shareholders, shared the strategic outlook to build on the bank’s FY 2024 success.
“Our priorities in the 2025 financial year are to complete the next phase of our capital raise and further strengthen our asset base, enhance operational efficiency and digital innovation and explore strategic regional expansion into select African markets,” she said.
According to the bank’s 2024 annual report available on its website and distributed to shareholders, the bank recorded an impressive 210% growth in Profit Before Tax to N385.2 billion.
Gross Earnings increased by 87.7% to N1,043.4bn, driven by 106.9% growth in interest and similar income to N950.6bn. The bank also witnessed an impressive 47.9% growth in deposits from N4.0trn in 2023FY to N5.9trn while Advances grew from N3.1tn in 2023FY to N4.4tn in 2024FY.
Several resolutions were considered and passed at the AGM, including the declaration of a final dividend of N1.25 kobo, the election of non-executive directors – Alhaji Abdullahi Sarki Mohammed and Ms. Obiaku Augusta Okam; the election of Mr Sufiyanu Ibrahim Garba as executive director; and the re-election of non-executive directors – Mr Mustapha Chike-Obi and Engr Henry Obih, among others.
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.
Its multiple local and international awards include 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, Fidelity 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.
Business
Zenith Bank Promises Quantum Leap in Future Dividends, Delights Shareholders with Payout of N195.67bn
Shareholders of Zenith Bank Plc, at the 34th Annual General Meeting (AGM) held at the Civic Centre, Victoria Island, Lagos, on Tuesday, April 29, 2025, approved the proposed final dividend payment of NGN4.00 per share, bringing the total dividend for the 2024 financial year to NGN5.00 per share, with a total value of NGN195.67 billion.
The Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, thanked the shareholders for their unflinching support and commitment, which have been responsible for the bank’s stellar performance over the years. He noted that despite challenges globally in 2024, Zenith Bank was able to leverage the opportunities within the environment of each subsidiary to record a performance that solidly attests to the bank’s resilience as a brand.
The Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, expressed her appreciation to the shareholders for their commitment and support, promising quantum leap in dividends going forward. According to her, “This is the first time that I am addressing the Annual General Meeting (AGM) in my capacity as the first female GMD/CEO of Zenith Bank. I would like to thank you for your confidence and support that has placed me in this position today”. She further said that “Zenith Bank is committed to, not only meeting your expectations, but exceeding them. We are focused on running a very efficient and sustainable institution that is resilient and will ensure that our institution outlives many generations to come”. Talking specifically about dividend, she emphasized that “If you look at our dividends trajectory, payments over the period have always increased and we will continue to maintain this record. We have successfully completed our recapitalization exercise, achieving 160% subscription. Therefore, we are not under any pressure to go back for the second time to raise funds. Zenith Bank has sufficient capital buffer to do business and we will continue to delight our shareholders. We are committed to growing our topline organically while adhering to our strict corporate governance culture.”
Dr. Faruk Umar, President of the Association of the Rights of Nigerian Shareholders (AARNS), applauded the Group Managing Director for her efforts in ensuring the growth of the bank’s financial indices. He said, “We are very happy that the bank is paying us N5. Most importantly the GMD/CEO, Dame Dr. Adaora Umeoji, has done so well. In the past year, she won the award for the Banker of the Year which is very commendable, and all the bank’s indices have gone up; we are now experiencing trillions in profit against N676 billion the previous year, and the shareholder’s funds, the gross earnings – everything now is in trillions. I think this is very commendable. The bank has won so many awards – no bank in Nigeria has won such qualitative awards like they have. They also surpassed the capitalization threshold of CBN by 160% – this is unprecedented. We are very happy with their performance.”
Speaking on the dividend payout, Alhaji Otunba Mukhtar Mukhtar, Chairman, Trusted Shareholders Association of Nigeria, said “The consistency of Zenith Bank dividend payout has never been matched in Nigeria. Since the inception of this bank, they have kept giving shareholders a consistent dividend payout, and this has made shareholders to be richer, happier, and more excited at the hardwork, performance and commitment of the bank. We are very happy. If you look at the Profit Before Tax (PBT) and the Profit After Tax (PAT), they have been able to cross the N1 trillion threshold. They have given us a Profit Before Tax of N1.3 trillion, which is very commendable. The shareholders, as you have seen at the meeting, have expressed their happiness and joy about this performance. I am grateful to the Chairman, Dr. Jim Ovia, CFR, the Management and the Board for such an outstanding performance.”
Ambassador Dr. Olatunde Okelana, the Balogun Olugbon of Orile- Igbon, Oyo State, also commented on the bank’s dividend payout. In his words, “Zenith Bank investment has been the best for me. I want to believe that whoever has not invested in Zenith Bank has lost. Their dividend policy is very palatable, very beautiful in the banking industry and the lady at the helm of affairs is performing wonderfully well. She is one of the best female CEOs in the banking Industry in Nigeria. I am a capitalist, so I invest where my money can give me beautiful returns. I want to tell you that Zenith Bank has been the best in the capital market and it is the best investment. Dr. Jim Ovia, CFR, the Founder & Chairman, is a benefit to mankind, he has done the best by giving us Zenith Bank. 99.9% of my savings is in Zenith Bank, because I have confidence in them and in the Management led by Dame Dr. Adaora. I want to encourage many Nigerians to invest in Zenith Bank so that they too can reap the fruit of their labor as soon as possible. I am very happy to be a shareholder of this bank.
Chief Timothy Adesiyan, President of the Shareholders Solidarity Association of Nigeria, praised the Chairman and Management of Zenith Bank for their consistent delivery of value to shareholders. He noted, “The dividend we received this year of N5 has been a promise which they have given to us at several forums which they have called at different times, and we thank them for not failing us in their promise. I am very proud to be a shareholder of Zenith Bank, and also their customer. The bank is a very reliable bank – if you keep your investments in Zenith Bank, you can go to sleep because there is always somebody there watching your investment for you.”
The bank’s robust financial performance in 2024 alluded to its commitment to continually delivering value to its investors in spite of challenging macroeconomic conditions. Zenith Bank Group achieved a remarkable double-digit growth of 86% in gross earnings, from NGN2.13 trillion in the previous year to NGN3.97 trillion in 2024. This 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. Customer deposits grew by 45%, reflecting the bank’s market leadership and customers’ trust. Total assets rose by 47%, underpinned by a strong liquidity position and effective balance sheet management.
Zenith Bank’s track record of excellent performance has continued to earn the brand numerous awards including being recognized 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 the Bank of the Year (Nigeria) in The Banker’s Bank of the Year Awards for 2020, 2022 and 2024; and Best Bank in Nigeria for four times in five years, from 2020 to 2022 and in 2024, in the Global Finance World’s Best Banks Awards.
Access Bank Plc has responded to the reports making the rounds on social media concerning a former contact agent, who was alleged to have violated the privacy of some women in the organisation.
In a statement the management made available to the National Association of Online Security News Publishers (NAOSNP), the bank said the matter has been handed over to the appropriate authorities for investigation while cautioning the general public to rely on updates communicated through their channels only.
The statement reads in full:
Our attention has been drawn to reports circulating on social media regarding an alleged offence involving a former Contact Centre Agent.
The matter has been handed over to the appropriate authorities, who are conducting an investigation.
We are fully cooperating with them in this process.
At Access Bank, we uphold a zero-tolerance policy towards harassment and any form of privacy violation.
We are also actively engaging with the affected employees to provide all necessary support.
The safety, dignity, and well-being of our employees and customers remain our highest priority.
We appreciate the concern and support of the public and our stakeholders.
For accurate information, we encourage everyone to rely only on updates communicated through our official channels.
MANAGEMENT
