Business
FirstBank Empowering Women Through Financial Inclusion
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First Bank of Nigeria Limited is taking steps to ensure that women and women-led businesses are empowered. The bank has, through its FirstGem; FirstMonie and First Women Network empowered and brought several unbanked women into the financial system. This it proved during this year’s International Women’s Day (IWD) celebration, writes COLLINS NWEZE.
Empowering women through improved access to finance and social support are crucial in achieving the desired growth for the economy. This is the belief of First Bank of Nigeria Limited, even as it maintained that investing in women’s economic empowerment sets a direct path towards gender equality, poverty eradication and inclusive economic growth.
It acknowledges the enormous contributions made by women, whether as business women, farmers, entrepreneurs or employees, or by doing unpaid care work at home.
This it demonstrated during this year’s International Women’s Day (IWD), a worldwide event that celebrates women’s achievements – from the political to the social. It is also a day that stakeholders in Nigeria and in the Diaspora canvassed gender equality in society and workplace.
The event brings together governments, women’s organisations, corporations and charities for purposes of development and inclusion.
According to the World Bank, women empowerment is the process that creates power in individuals over their own lives, society and in their communities.
Women’s empowerment is all about equipping and allowing them to make life-determining decisions through the different problems in society.
Also, empowering women by granting them access to vast opportunities and information will not only lead to personal development for them but also the development of the communities and societies they operate in.
First Bank is, therefore, supporting women’s economic empowerment through FirstGem, which gives them economic voice and bring many unbanked women to the financial system.
The bank has advanced N58 billion loans to over 81,000 women-led businesses and interests. Besides, 44,356 women (corporate and individual, including members of staff of the bank) currently own and operate the FirstGem account with a seating balance of N2.4 billion.
Also, the Agent Banking platform – which the bank leads in the industry – has promoted not just the financial inclusion of women but also independence as there are many women among its Agent Banking. Data showed that there are 38,185 male banking agents, and 11,762 female banking agents.
First Bank Managing Director/CEO Adesola Kazeem Adeduntan, said women-led businesses constitute a large part of the banks’ balance sheets and stream of income, even as he added that the bank will continue to give priority to issues that affect women.
He said the bank is also in tune with the Nigerian Sustainable Banking Principles (NSBP) which requires that companies promote gender equality in workplace.
To support the NSBP project and give women voice in the workplace, FirstBank boss said women remain some of the best workforces and always make great impact in establishments.
FirstBank believes that women needed to be economically empowered. Unless social concerns such as gender disparity and women economic empowerment are addressed, economic and environmental goals and overall sustainable development will be difficult to achieve.
Adeduntan said the introduction of FirstGem, a female-focused product by the bank has contributed to the development of the Nigerian economy.
Speaking at the FirstGem third anniversary conference held in Lagos, the bank chief said he was delighted that FirstGem is promoting savings culture, financial literacy, loan management, wealth creation and healthy lifestyle for women.
Adeduntan said the product has a wide array of advisory, health and current awareness services for the discerning woman.
He said: “On October 28, 2016 we launched this women-centric account, designed specifically to meet the financial needs of both corporate and entrepreneurial women. This product, apart from being an account dedicated solely to women, is lifestyle-enhancing.
“It provides a total lifestyle support for discerning women to enable them to meet their economic needs and aspirations. It goes without saying that economic stability does impact overall stability of individuals, institutions, communities and nations.
“With FirstGem, therefore, our long-term focus is on national economic development. I believe that with the indices we have so far, FirstGem is on the right performance track.”
In sports, the Female Basketball team, Elephant Girls, have, over the years, dominated the Women Basketball League of the Nigeria Basketball Federation, representing Nigeria in the International Basketball Federation (FIBA) Africa Women’s Champions.
According to FirstBank, Corporate Responsibility and Sustainability (CR&S) involves meeting the needs of our stakeholders now and in the future. Our CR&S approach is three-pronged: citizenship, stakeholder management and impact management.
“Citizenship and stakeholder management involves putting into consideration the needs of stakeholders in making decisions, while impact management is basically about minimising our negative impacts and increasing our positive impacts on society.
“FirstBank prides itself in being an equal opportunity employer and have integrated diversity and inclusion policies and awareness into its practices.
The bank said its efforts at engendering diversity in the workplace include having in place a policy that encourages inclusion. The group’s diversity and inclusion objective is to be a recognised industry leader in workforce diversity and leverage diversity for the growth of the group and the success of the customers and communities we serve. We have a male: female ratio of 61:39 across the workforce,” he said.
Also, the bank’s Board and Senior Management Teams have consistently supported women development by deliberately designing a dedicated platform called FirstGem to drive financial inclusion and all-round development of women.
The bank’s CR&S approach is designed to deliver value in a structured way in the areas of education, health and welfare; financial inclusion; responsible lending and procurement.
Inclusivity ties in with our people empowerment goal which includes improving the lives of our stakeholders through the bank’s agenda of nation-building by empowering women and girls to access the opportunities and societal benefits to grow and advance societal and economic benefits. The bank is committed to promoting diversity, inclusion through our products, services and programmes.
Advancing the FirstGem vision
FirstBank explained that in recognition of the impact of women’s contribution to economic development, the bank is steadily advancing the vision of FirstGem through active and value-adding participation in many women empowerment programmes, international conferences, seminars, workshops, and roadshows across different cities and states of Nigeria over the past couple of years.
It revealed that at the forefront of these engagements is the Chairman of Board of Directors of the Bank who happens to be a female.
It said the bank is committed to maintaining a positive work environment and to conducting business in a positive, professional manner by consistently ensuring equal employment opportunity.
FirstBank Women Network is aimed at addressing the gender gap at the senior levels and taps the opportunities presented by enabling our women to contribute even more if given the necessary strategic support and an enabling environment. This includes providing a platform that enables women to become more engaged in their workplace, set and achieve goals, have greater influence in their lives and achieve more of their potential.
The initiative was launched with the International Women’s day (IWD) celebration that held on March 8, 2018 with the theme #PressforProgress.
Also, the First Women Network is built around six pillars which are influence career pipeline, networking opportunities, grooming, etiquette and poise, mentoring, coaching and sponsorship opportunities, counselling, support and welfare, financial planning and empowerment.
Coaching/mentoring scheme
FirstBank has a coaching and mentoring scheme dedicated to female members of staff in the bank. This is to enable older female members of staff to handhold and coach the younger ones with reference to their experience as they climbed the career ladder.
For her, the types and number of products and services available to women include the facilities and polices provided to support gender diversity in the work place, among others.
Also, 2,708 female employees have special opportunities as nursing mothers: The Bank recognises that pregnancy and childbirth may take its toll on the women.
In addition to the three months’ maternity leave with pay, our practice allows for nursing mothers to resume two hours later than the normal resumption period, or close two hours earlier than the normal closing hours. This is applicable for the first three months after resumption from maternity.
All these have made the bank winner of the Nigeria Sustainable Banking Awards on Women Empowerment Category, which is driven by the Central Bank of Nigeria, among other laurels.
Business
Ecobank Nigeria Launches Scaling Up!!! Podcast to Champion African Entrepreneurship, Business Growth
Ecobank Nigeria has launched Scaling Up!!!, its flagship business storytelling podcast designed to inspire, educate and empower entrepreneurs, founders, business leaders and the next generation of African innovators through authentic conversations with some of the continent’s most accomplished business personalities.
The podcast, which will be available on Ecobank Nigeria’s official YouTube channel and other major digital streaming platforms, reinforces the Bank’s commitment to supporting businesses beyond banking by creating a platform where entrepreneurs can learn from the experiences of successful founders, creatives and industry leaders who have built thriving enterprises across diverse sectors.
Featuring compelling conversations on entrepreneurship, leadership, innovation, resilience and business growth, Scaling Up!!! offers practical lessons and real-life insights that aspiring and established entrepreneurs can apply in building sustainable businesses.
The inaugural season features an impressive lineup of distinguished guests, including beauty entrepreneur and Founder/CEO of Beauty by AD, Adeola Adeyemi (Diiadem); renowned filmmaker and Founder of Golden Effects Pictures, Kunle Afolayan; veteran music producer and Founder of Coded Tunes, ID Cabasa; luxury fashion entrepreneur Ejiro Amos Tafiri; celebrated commercial photographer Emmanuel Oyeleke; Co-founder and Lead Interior Designer of Siriano Limited, Adewunmi Adegbola; and Founder of Windsor Gallery and Nahous Creative Hub, Richard Vedelago.
Each episode explores the guests’ entrepreneurial journeys, highlighting the opportunities they embraced, the challenges they overcame and the strategies that enabled them to build enduring brands and successful businesses.
Speaking on the launch, Head, Marketing & Corporate Communications, Ecobank Nigeria, Austen Osokpor, said: “Scaling Up!!! reflects Ecobank’s belief that empowering entrepreneurs goes beyond providing financial solutions. Through authentic storytelling and insightful conversations, we are creating a platform where business owners can learn directly from people who have successfully navigated the realities of building sustainable enterprises. It is another way we are reinforcing our commitment to driving entrepreneurship, innovation and economic growth across Africa.”
Also speaking, Head, SMEs, Partnerships & Collaborations, Ecobank Nigeria, Omoboye Odu, said: “Entrepreneurs learn best from the experiences of those who have walked the journey before them. Scaling Up!!! provides practical insights, inspiration and valuable lessons that will help founders make better business decisions, overcome challenges and unlock new opportunities for growth. The podcast further strengthens Ecobank’s role as a trusted partner supporting SMEs at every stage of their entrepreneurial journey.”
Sharing the creative vision behind the initiative, the Producer of Scaling Up !!!, Jemimah Ugiagbe said: “Our goal was to create more than just another business podcast. We wanted honest, engaging and relatable conversations that reveal the realities behind success, the setbacks, the resilience, the bold decisions, and the lessons that every entrepreneur can learn from. Every episode is designed to leave listeners informed, inspired and motivated to build businesses that create lasting impact.”
The podcast further strengthens Ecobank Nigeria’s position as a trusted partner for entrepreneurs by providing a knowledge-sharing platform that extends beyond traditional banking services. Through meaningful conversations with accomplished founders and innovators, the Bank continues to demonstrate its commitment to fostering enterprise development, encouraging innovation and promoting sustainable economic growth across Africa.
Scaling Up!!! is targeted at SMEs, entrepreneurs, founders, startups, business executives, creatives, students and young professionals seeking practical business insights from some of Africa’s most respected industry leaders.
New episodes will be released regularly across Ecobank Nigeria’s YouTube channel and other major podcast streaming platforms, offering audiences thought-provoking conversations on entrepreneurship, leadership, innovation and business growth.
Wema Bank, Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank, ALAT, has been named Nigeria’s Best Digital Bank for Consumers 2026 by Euromoney, one of the world’s most respected authorities on financial services and banking excellence.
The prestigious recognition affirms the Bank’s sustained leadership in digital innovation, customer experience and financial inclusion, reinforcing its position as one of Nigeria’s leading technology-driven financial institutions.
Presented annually, the Euromoney Awards for Excellence celebrate banks that are redefining financial services through innovation, measurable impact and outstanding customer value. In selecting Wema Bank for the award, Euromoney recognised the Bank’s successful digital transformation journey, its continuous innovation through ALAT, Africa’s first fully digital bank, and its unwavering commitment to delivering simpler, smarter and more accessible banking experiences for customers.
Commenting on the recognition, the Managing Director/Chief Executive Officer of Wema Bank, Moruf Oseni, said: “This award is a strong validation of the deliberate investments we have made over the years to build a truly digital bank that puts customers at the centre of everything we do. Innovation for us has never been about technology for its own sake. It has always been about creating solutions that make banking easier, faster, safer and more rewarding for every customer.
“From pioneering Africa’s first fully digital bank with ALAT to continuously evolving our digital capabilities, we have remained focused on anticipating customer needs and building experiences that create real value. We are honoured by this recognition from Euromoney and inspired to continue pushing the boundaries of innovation as we shape the future of banking in Nigeria,” he concluded.
A key milestone in Wema Bank’s digital transformation has been the evolution and upgraded version of ALAT, which introduced next-generation capabilities including voice banking, tap-to-pay functionality, personalised financial services and integrated investment opportunities through strategic partnerships. Together with faster digital onboarding, AI-powered fraud monitoring, intelligent customer personalisation and an expanding agency banking network, these innovations continue to enhance customer experience while extending financial services to more Nigerians.
Euromoney also recognised Wema Bank’s ability to leverage technology to build deeper customer relationships through data-driven personalisation, enabling customers to receive tailored recommendations across savings, investments and credit products based on their financial needs and behaviour.
For over eight decades, Wema Bank has remained at the forefront of innovation in Nigeria’s financial services industry. As the pioneer of Africa’s first fully digital bank, the Bank continues to redefine banking by combining technology, customer insight and innovation to deliver seamless, secure and inclusive financial solutions for individuals, businesses and communities.
The Euromoney recognition further reinforces Wema Bank’s commitment to building the future of banking through continuous innovation, operational excellence and customer-centric solutions that create lasting value.
… Spotlight financial inclusion, others as sectors poised for exponential growth
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has hosted another impactful edition of its quarterly UBA Business Series, bringing together entrepreneurs, investors, innovators and business leaders to explore how customer insights and technology is shaping Africa’s next generation of high-growth businesses.
Held at the Bank’s corporate headquarters in Lagos under the theme, “Building for Africa’s Realities: Turning Consumer Feedback into Technology-Driven Solutions,” the event examined how African entrepreneurs are leveraging data, consumer behaviour and innovation to build scalable businesses tailored to the continent’s unique realities.
A major highlight of the discussion was the consensus among panellists that financial inclusion, the creative economy, sports, and small and medium enterprises (SMEs) represent the sectors most likely to produce Africa’s next billion-dollar companies.
They agreed that the businesses most likely to succeed will be those that remain deeply connected to the needs and behaviours of their customers.
Moderated by media entrepreneur and founder, Adaora Mbelu, the conversation featured an accomplished panel comprising Co-founder and Chief Executive Officer of Chowdeck, Femi Aluko; acclaimed rapper and entrepreneur, M.I Abaga; and Venture Capitalist/ Co-founder of Octerra Capital, Ashim Egunjobi.
Opening the conversation, Mbelu challenged entrepreneurs to pay closer attention to the realities around them.
“Building is not reserved for the smartest person in the room. It is about being observant enough to understand people, behaviour and context. The greatest opportunities often emerge from paying attention to what others overlook.”
Sharing the Chowdeck growth story, Aluko explained that some of the company’s biggest innovations emerged directly from analysing customer behaviour. He revealed that purchasing patterns within the platform inspired the creation of Chowstore, demonstrating how data can uncover entirely new business opportunities.
“Customers constantly tell you what they need. If you listen carefully, they will show you what to build next.”
Speaking on artificial intelligence, M.I Abaga described AI as a transformative opportunity for Africa’s creative industry rather than a threat. He noted that emerging technologies would enable African creators participate more competitively in the rapidly expanding global creative economy.
“Technology has always been part of creativity. AI gives African creators the opportunity to compete globally, solve bigger problems and build businesses that serve international markets.”
He also observed that the digital era has fundamentally changed how audiences are reached, enabling creators to build direct relationships with their communities while creating demand for stronger financial and business support systems.
Offering an investor’s perspective, Egunjobi emphasised that successful investing begins with backing resilient founders rather than impressive presentations.
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