Business
FirstBank Demystifying Financial Inclusion with XploreFirst
Worried by the increasing rate of the unbanked population, the Federal Government, through the Central Bank of Nigeria (CBN), kicked off a campaign in 2012 to achieve 80 per cent financial inclusion of adult population by 2020.
The CBN carried out the campaign through agency banking, mobile banking/mobile payments, linkage models and client empowerment, to reduce financially excluded adult Nigerians from 46.3 per cent in 2010 to 20 per cent in 2020.
According to the CBN, the overall goal of the strategy is to promote a financial system accessible to all Nigerian adults at an inclusion rate of 80 per cent (formal and informal).
However, the 2018 Access to Financial Services Survey findings, conducted by the Enhancing Financial Innovation and Access (EFInA) department of CBN, showed that 36.8 per cent Nigerian adults were still financially excluded.
This translates to a population of 36.6 million adult Nigerians who are excluded at the moment, with 44.1 per cent male and 55.9 per cent female.
The survey also disclosed that the country had a total adult population of 99.6 million, with 39.8 per cent as the banked population, which translates to 39.7 million.
In line with the apex bank’s strategy, some commercial banks have introduced products aimed at promoting financial inclusion, educational development and financial literacy to meet the 2020 target.
For instance, First Bank of Nigeria Limited has since launched a couple of innovative products such as FirstMobile, USSD, agent banking and FirstBillsPay to enhance banking efficiency.
The bank recently added a new scheme, FirstBank XploreFirst, a promotional campaign aimed at rewarding its youthful customers, in line with its financial inclusion and educational development drive.
Chuma Ezirim, FirstBank Group Executive, e-Business & Retail Products, said the six-month promo, which kicked off on October 1, 2018 and ends in May, was a FirstBank savings account variant designed specifically for students between 18 and 29 years.
He said a minimum of N1, 000 was required to open the account and account holders were required to maintain a minimum balance of N200.
To participate in the promo, Ezirim said XploreFirst customers were encouraged to save or maintain a minimum amount of N10, 000 in their accounts during the promo period to be eligible for the scholarship raffle draw, and that incremental deposits of N10, 000 in the account entitled the account holder to multiple tickets for the raffle draw.
To this end, a total of 198 winners emerged from the promo with 18 account holders (three from each of the six geopolitical zones) rewarded with scholarships of N150, 000 at the final raffle draw totaling N2.7 million.
The 18 account holders who won the N2.7 million scholarships were Chukwuebuka Ezugba, Oluwatunmise Olorunfemi and Michael Offiong for Lagos zone.
North-Central: Patrick Oginni, Aliyu Muhammad, Confidence Umeh; North-East West: Razaq Ibrahim, Habiba Ibrahim, Abdullahi Mannir; South-East: Victoria Umo, Armstrong Akoma and Deborah Fubara.
South-South winners were Woyingi Kunoun, Shulammite Onyigabor, Stephen Okolo; South-West: Adenike Adekale, Dorcas Agbakwuru and Oghogho Onoigboria.
Also, the bank rewarded 180 account holders with N5, 000 (N900, 000) airtime as consolation prizes, five from each of the six geopolitical zones.
Ezirim said the initiative was targeted at the youth, especially those in tertiary institutions and the informal sector to enhance savings culture and drive financial inclusion across the country.
He noted that the initiative would be sustained by the bank in the future in line with the CBN financial inclusion mandate.
Also speaking, Olufemi Odumuboni, the bank’s Head, Youth/Women Banking, said the promo dynamics were centred at making people to engage in financial discipline.
Odumuboni said winners were selected based on certain principles that made them eligible to qualify for the draw.
He explained that apart from the N2.7 million set aside for the yearly scholarships the bank had splashed about N900, 000 on customers that emerged winners at the various monthly draws for data purchase for their mobile phones.
To FBN Head, Retail Business & Community Banking, Mr Abiodun Famuyiwa, the bank embarked on the initiative due to its belief in nation’s building.
“We started this last year and the reason why FirstBank is driving this promo is because of our belief in nation’s building.
“We cannot build a nation without the population, youths populism consists of over 50 per cent of the population.
“And this population of youths we are targeting is those in the campuses, which are actually in need of some kind of support in their education, and this is one of the driving forces of the promo,” Famuyiwa said.
He also noted that the focus of the bank in organising the promo was to have more of the youths in the bank’s database, because traditionally, people associated FirstBank with old people. (NAN)
Access Bank Plc, Nigeria’s largest retail bank, is set to unveil DettyFusion, an innovative all-in-one digital platform designed to help Nigerians at home and in the diaspora seamlessly discover, plan, and enjoy entertainment events during the upcoming Christmas and New Year festive season.
Billed as the first-of-its-kind entertainment aggregator in the country, DettyFusion will serve as a centralized hub where users can explore event calendars, purchase tickets, access exclusive discounts, participate in curated festive experiences, and make safe, seamless payments throughout the holiday period.
Speaking on the forthcoming launch, Access Bank’s Head of Mobility, Ishmael Nwokocha, said the platform was inspired by the bank’s commitment to enhancing customer experience during the highly anticipated Detty December season.
“Every December, Nigerians look forward to moments that bring joy, connection, and unforgettable experiences. The launch of DettyFusion will create a single gateway that makes it easier, safer, and more convenient for customers to enjoy the thrills of Detty December,” Nwokocha stated.
He added that the platform reflects Access Bank’s drive to deliver innovative lifestyle solutions that extend beyond traditional banking services. “DettyFusion brings together key features that meet the needs of today’s digitally active and experience-driven audience,” he said.
With this initiative, Access Bank continues to reinforce its position as a leading lifestyle enabler, supporting Nigeria’s creative sector while empowering customers to enjoy top-tier entertainment during the festive season.
With DettyFusion, Detty December just got smarter, more convenient, and even more rewarding.
Across Africa, women are fast becoming the heartbeat of economic transformation. From bustling open-air markets to high-tech boardrooms, women-led enterprises are redefining what is possible for the continent’s future.
Whether as market traders expanding their reach through digital platforms, tech founders scaling innovations across borders, or artisans turning local crafts into global brands, women’s contributions are now central to Africa’s economic resurgence.
Even as they break new ground, many still face formidable barriers. Access to finance, mentorship, business education, and supportive networks remains limited. Structural issues such as weak property rights, gender bias, and inadequate legal protections often hinder women from securing loans or expanding their businesses.
Consequently, many women-owned ventures remain small, informal, and vulnerable to economic shocks.
Recognising both the promise and the obstacles, Access Bank has positioned itself at the forefront of empowering women across the continent. Recently named Africa’s Best Financier for Female Entrepreneurs by the EMEA Finance Awards, the Bank has earned global recognition for its commitment to inclusion, innovation, and sustainable impact.
At the centre of this effort is the W Initiative, one of Africa’s most comprehensive women-focused banking programmes. Unlike conventional banking, it combines finance with mentorship, training, and community support, acknowledging that true empowerment requires more than access to capital. The initiative meets women wherever they are on their entrepreneurial journey, from start-ups to growing enterprises and corporate leadership.
The W Power Loan offers affordable credit with flexible terms, enabling women to invest in expansion, inventory, or technology. The W Academy provides leadership and business training on financial literacy, marketing, and regulatory compliance, while the W Community connects women to peers, mentors, and role models across industries.
Importantly, these offerings extend beyond urban centres. From microloans sustaining traders in rural markets to leadership programmes developing female executives in multinational firms, Access Bank’s approach is deliberately inclusive. By partnering NGOs, business associations, and government agencies, it reaches women in underserved communities, ensuring participation in Africa’s economic rise.
The results are evident. Thousands of women have accessed credit, training, and networks through the Bank’s initiatives, enabling them to launch and scale businesses, create jobs, and uplift their communities. The ripple effects are far-reaching: increased household income, improved family wellbeing, and greater economic resilience. Women who once faced daunting barriers now serve as role models and change-makers, inspiring others to follow their path.
Studies show that when women thrive, societies prosper. The World Bank and African Development Bank note that empowering women fuels GDP growth, improves health outcomes, and enhances social stability. By directly addressing structural gaps in access to finance and information, Access Bank helps to unlock this transformative potential.
Apart from supporting entrepreneurs, Access Bank promotes gender inclusion within its own organisation. Its leadership pipeline identifies and advances talented women, while mentorship and wellness programmes help female professionals thrive. The Bank also uses public platforms, from conferences to policy dialogues, to share success stories and advocate for gender diversity across sectors.
The EMEA Finance recognition thus goes beyond trophies and titles; it affirms that profitability and purpose can coexist. For Access Bank, supporting women’s advancement is smart economics. By embedding inclusion into its DNA, the Bank is shaping a financial ecosystem that views women as equal partners in progress.
Access Bank’s influence also extends into advocacy. Through forums, roundtables, and research collaborations, the Bank engages policymakers, civil society, and business leaders to identify and dismantle barriers facing women entrepreneurs. Its campaigns amplify women’s voices, spotlighting their achievements and driving conversations around inclusive growth.
In another demonstration of its commitment to corporate social responsibility, leading financial institution, Fidelity Bank Plc, has extended support to residents of the Makoko waterfront community in Lagos with the donation of boats, educational materials, food items and other essential relief items.
The donation was championed by the Achievers Inductees Class of 2025 under the Fidelity Helping Hands Programme (FHHP), the bank’s staff-led CSR initiative where members of staff identify areas of critical interventions in their communities, raise funds and receive matching support from the bank’s management to execute the projects.
Speaking on the donation, Divisional Head, Brand and Communications, Fidelity Bank Plc, Dr. Meksley Nwagboh, reaffirmed the bank’s dedication to supporting communities and fostering sustainable development.
“At Fidelity Bank, we believe that when communities thrive, businesses prosper. Our commitment goes beyond banking, it is about improving lives, supporting education, and creating opportunities for growth. This donation reflects our dedication to nurturing the next generation and contributing to a better, more sustainable future,” He stated.
Expressing appreciation on behalf of the community, the traditional leader of Makoko, Baale Shemede Emmanuel Ajakaekun, commended Fidelity Bank for its compassionate donation.
“We are grateful that Fidelity Bank came down here to support us. May their work continue to flourish, and may God lift them higher. We hope they will not forget us but come back again to support our people,” he said.
Similarly, the Proprietor, Part of Solution Orphanage, Nursery and Primary School, Shemede Taiwo, described the donation as life-changing for the children and residents.
“Many children here struggle to attend school because boats are expensive to build or hire. Fidelity Bank’s donation will make a huge difference in ensuring our children get to school safely and in ensuring the improved welfare of the residents of this community. We truly appreciate this gesture,” Shemede Taiwo said.
Through the Fidelity Helping Hands Programme (FHHP), the bank continues to empower communities across Nigeria by addressing key social issues in education, health, and welfare. The Makoko outreach comes off the back of a similar FHHP outreach to Old People’s Home in Yaba, Lagos, reaffirming Fidelity Bank’s commitment to the sustainable development that begins with genuine care for people and their environment.
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.
The Bank is a recipient of multiple local and international Awards, including 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, the 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.
