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Emefiele Shuns Reps’ Summons As Banks Ration New Notes

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An ad hoc committee set up by the House of Representatives to investigate the scarcity of the new naira at commercial banks on Wednesday has frowned at the failure of the management staff of the Central Bank of Nigeria to appear before it on Thursday just as the House has insisted on January 31 deadline set for the exchange of the old notes with the new ones

This came barely two months after the CBN Governor, Godwin Emefiele, failed to appear before the House over issues relating to the naira redesign.

The House had on Tuesday called on President Muhammadu Buhari over the brewing crisis occasioned by the January 31 deadline.

Apart from asking the CBN to extend the window for swapping the old notes with the newly redesigned one by six months, the House had invited the banks to a meeting on Wednesday over the scarcity of new naira notes.

The managing directors/chief executive officers of the banks, under the auspices of the Bankers’ Committee, were to meet with an ad hoc committee of the House to be chaired by the Majority Leader, Alhassan Ado-Doguwa.

On Wednesday, the CBN failed to appear before the committee.

However, Ado-Doguwa, at the inaugural investigative hearing of the committee, stated, “For the purposes of clarification, I want to say without any fear of contradiction, that the parliament is always an institution that represents the Nigerian people. For an invitation to any government employee, like it is the case here with the CBN, the governor of the CBN, his directors, deputy directors, all departmental heads, I believe, are employees of the Nigerian people; and when there is a kind of summons from the institution of the parliament like this, we expect every up-and-doing employee to only respect that invitation.”

“On this note, I would like to convey to this committee and members of the public and the press here with us that we have conceded to allow the CBN officials to come tomorrow by 1pm, so that we would engage them. And immediately after the engagement with them, we would engage the bank operators.”

Meanwhile, there was palpable discontent among bank customers in Lagos on Wednesday after some commercial banks shut down their Automated Teller Machines, ostensibly due to paucity or unavailability of new naira notes.

The development came in the wake of threats by the Central Bank of Nigeria that it would sanction any bank that dispensed old naira notes on its Automated Teller Machines.

When our correspondent visited four banks — Zenith Bank, United Bank for Africa, Access Bank and Stanbic IBTC along Iju road in the Ogba area of Lagos State, it was observed the bank ATMs were neither dispensing the new naira notes nor the old ones.

Meanwhile, a myriad of disgruntled customers were seen lamenting the frustration of not being able to withdraw cash from any of the ATMs in the area.

Our correspondent proceeded to visit Zenith Bank, Access and UBA along Ogunnusi road in the Ojodu axis of the state. The story was no different as a small crowd of frustrated customers was seen lamenting their inability to withdraw cash.

While some of the banks cited technical difficulties for their inability to dispense money via the machines, others said their ATMs had developed faults and could not temporarily dispense cash.

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UBA Hosts Pan-African Environmental Clean-Up Initiative for Sustainability

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has reaffirmed its commitment to sustainability, employee wellbeing, and community development by mobilising thousands of employees across its operations in 20 African countries for the latest edition of its flagship wellness initiative, “Jogging to Bond.”

This year’s event held special significance as it coincided with the 60th birthday of UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who chose to celebrate the milestone in the company of staff and colleagues.

Held under the theme, “The Power Within U,” the quarterly initiative brought together employees from across the Group’s African network for a day dedicated to fitness, teamwork, creativity, community service, and environmental responsibility.

A major highlight of the event was a coordinated environmental clean-up exercise carried out simultaneously across UBA’s markets. From Lagos to Accra, Nairobi, Dakar, and other cities where the Bank operates, employees took to streets and public spaces to clean their surroundings, demonstrating UBA’s unwavering commitment to environmental stewardship and sustainable development.

The exercise underscored the Bank’s belief that corporate success must go hand-in-hand with positive social and environmental impact. By integrating community service into employee engagement activities, UBA continues to strengthen its Environmental, Social and Governance (ESG) agenda while creating meaningful value in the communities it serves.

Speaking during the event, Alawuba emphasised the importance of wellness, teamwork, and social responsibility in building a strong institution.

“There is no place I would rather be on my birthday than here, surrounded by the incredible people who make UBA what it is today. Our greatest strength lies in our people, in the passion, energy, and sense of purpose that unite us across Africa.

When we run together, serve together, and work together to make our communities cleaner and healthier, we are doing more than promoting fitness. We are demonstrating our shared values and our commitment to the people and communities that place their trust in us every day,” Alawuba said.

In Lagos, the event featured a variety of wellness activities, including spinning bike sessions, fitness challenges, relaxation therapies provided by Oriki, and an exercise station hosted by iFitness, which also offered exclusive discounts to UBA employees.

Commenting on the significance of the initiative, UBA’s Group Head, Marketing and Corporate Communications, Alero Ladipo, said the programme reflects the Bank’s holistic approach to employee welfare and sustainable development.

“At UBA, our people are at the heart of everything we do. We believe that creating a thriving workforce requires investing in their wellbeing while also encouraging them to make a positive difference in society.

‘Jogging to Bond’ embodies our commitment to fostering a healthy workplace culture, strengthening team spirit, and contributing meaningfully to environmental sustainability. It is one of the many ways we continue to create value for our employees, customers, shareholders, and communities across Africa.”

As part of its broader Employee Value Proposition and ESG strategy, UBA continues to implement programmes that promote wellness, engagement, volunteerism, and environmental responsibility across its operations. Through initiatives such as “Jogging to Bond,” the Bank reinforces its position not only as a leading financial institution but also as a responsible corporate citizen committed to building a more sustainable future for Africa.

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Fidelity Bank Bags DBN Award for Expanding First-time Credit Access to MSMEs

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Fidelity Bank Plc has won the Development Bank of Nigeria (DBN) Service Ambassadors Award for recording the highest impact in expanding access to formal credit for first-time Micro, Small and Medium Enterprises (MSMEs) in Nigeria.

The award recognises the Deposit Money Bank that has successfully onboarded previously unbanked or credit excluded Micro, Small and Medium Enterprises across Nigeria, reflecting Fidelity Bank’s sustained commitment to deepening financial inclusion, improving access to credit and supporting enterprise growth.

Speaking on the recognition, Divisional Head, Small and Medium-scale Enterprises Banking, Fidelity Bank Plc, Ugochi Osinigwe, expressed appreciation to DBN and reaffirmed the bank’s commitment to the growth of small and medium-scale businesses across the country.

Osinigwe said: “We sincerely thank the Development Bank of Nigeria for this recognition, which affirms the impact of our work in expanding access to finance for MSMEs, especially businesses accessing formal credit for the first time.

“At Fidelity Bank, we remain devoted to supporting SMEs with the right mix of funding, advisory services, capacity building, market access and digital solutions that enable them to grow, create jobs and contribute meaningfully to the economy.”
She added that the award would further encourage the bank to deepen its interventions in the SME sector and continue to provide practical solutions that help entrepreneurs overcome barriers to growth.

The latest recognition builds on Fidelity Bank’s long-standing partnership with DBN and consistent support for Nigeria’s MSME ecosystem.

In 2025, the bank received the DBN Innovation Award in the Deposit Money Bank category, in recognition of its outstanding contribution to the development and delivery of innovative financial products and services tailored to MSMEs.

The bank had also received the 2020 DBN Service Award for the Highest Disbursement to DBN-focused locations, a recognition that highlighted its role in facilitating access to affordable funding for small and medium-scale businesses across targeted markets.

Over the years, Fidelity Bank has implemented several initiatives that support small and medium-scale businesses beyond access to loans.

For instance, the bank established the Fidelity SME Hub in Gbagada, Lagos as a dedicated facility for entrepreneurs, offering access to training halls, meeting rooms, networking spaces, business advisory support, and creative studios for content production.

The bank also recently launched its Fidelity Quarterly Business Forum, a strategic engagement platform designed to connect SME founders, business leaders, policymakers and industry experts for practical discussions on business growth, trade, innovation and sustainability.

The maiden edition, held in Port Harcourt, Rivers State focused on scaling trade and distribution businesses for sustainable growth, while providing entrepreneurs with relevant insights, networking opportunities and advisory support.

In addition, Fidelity Bank has continued to support entrepreneurs through its SME Masterclass Series, which deliver practical capacity building in areas such as pricing, product quality, online sales, business visibility and preparation for international expansion.

The initiative forms part of the bank’s broader commitment to equipping SMEs with tools they can apply immediately to improve competitiveness and profitability.

The bank has also played a key role in the disbursement of the Federal Government of Nigeria MSME Intervention Funds, administered by the Bank of Industry, with a strategic focus on supporting qualified businesses and empowering women owned enterprises.

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Through its nationwide branch network, digital banking platforms and experienced relationship managers, Fidelity Bank continues to provide structured support to entrepreneurs across urban and rural communities.

Fidelity Bank’s broader SME support architecture also includes export development and market access programmes.

Through the Fidelity Nigeria International Trade and Creative Connect, the bank connects Nigerian businesses to international markets, including the United Kingdom and the United States.

It also partners with the Nigerian Export Promotion Council and Lagos Business School on the Export Management Programme, which equips entrepreneurs and aspiring exporters with the skills, knowledge and networks required to compete in regional and global markets.

The bank’s partnership with the National Credit Guarantee Company further strengthens its support for MSMEs by helping to reduce lending risks and expand access to finance.

The collaboration also includes financial literacy and business management training to help MSME beneficiaries manage their loans effectively and build sustainable enterprises.

With these interventions, Fidelity Bank continues to demonstrate a multi-dimensional approach to SME development, combining finance, advisory services, capacity building, digital enablement, market access and strategic partnerships to support businesses at different stages of growth.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving more than 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international awards, including the 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME support; Best Retail and SME Bank Award from Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards.

The Bank also received the inaugural Most Improved Commercial Bank of the Year award by Nairametrics, the SME Bank of the Year award by NewsDirect, and the Straight-Through Processing (STP) Excellence Award by Citi Group, in addition to recognition by Global Brands Magazine for Excellence in Community Empowerment.

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Polaris Bank Champions Drug-Free Nigeria, Supports NOMA’s Media Capacity Building Workshop

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Polaris Bank has reaffirmed its commitment to youth development, education, financial literacy, and social responsibility by supporting a Media Practitioners’ Capacity Building Programme held on Thursday.

The event pioneered by the Nigerian Online Media Alliance (NOMA), a coalition of digital media publishers and journalists, was to commemorate the 2026 International Day Against Drug Abuse and Illicit Trafficking.

As part of its contribution to the successful hosting of the programme, the bank donated a variety of branded gift items, including cable chargers, water bottles, umbrellas, piggy banks, and mathematical sets.

The branded water bottles, umbrellas, and cable chargers were distributed to journalists and participants at the event, providing useful tools for everyday use. The piggy banks were designed to encourage savings culture and financial discipline among young people, while the mathematical sets were presented to participating students to support learning and academic excellence.

The programme themed: “Responsible Media, Drug-Free Nigeria: The Journalist’s Role in Prevention and Advocacy,” was organized by NOMA in collaboration with the International Society of Substance Use Prevention and Treatment Professionals (ISSUP Nigeria), the National Drug Law Enforcement Agency (NDLEA), and the Federal Neuro-Psychiatric Hospital, Yaba.

Speaking on the bank’s support, Chairperson of the Nigerian Online Media Alliance (NOMA), Theresa Moses, expressed profound appreciation to Polaris Bank for partnering with the association in advancing initiatives that positively impact education and society.

According to her, the bank’s gesture underscored its dedication to community development, youth empowerment, and national progress.

“We are sincerely grateful to Polaris Bank for supporting this important programme with branded gift items. Beyond their practical value, these items represent the bank’s commitment to education, financial literacy, youth development, and social impact. Their support contributed significantly to the success of this event,” she said.

The event attracted journalists, media executives, public health professionals, policymakers, anti-drug advocates, students, and representatives of government agencies who gathered to discuss strategies for strengthening media advocacy against substance abuse and illicit drug trafficking.

Through expert presentations and panel discussions, participants explored the critical role of responsible journalism in promoting prevention, raising public awareness, reducing stigma, and supporting efforts to build healthier and safer communities.

Polaris Bank’s support aligns with its longstanding commitment to corporate social responsibility initiatives focused on education, financial inclusion, youth development, and community empowerment.

By supporting the NOMA Media Practitioners’ Capacity Building Programme, Polaris Bank has once again demonstrated its belief that collective action, education, and awareness are critical to building a drug-free Nigeria and empowering citizens to make informed choices for a better future.

Stakeholders at the programme commended the bank for its continued investment in initiatives that promote positive social values and contribute to national development.

The organizers noted that partnerships between the private sector and civil society organizations remain essential in addressing societal challenges and creating opportunities for sustainable impact.

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