Business
FirstBank Sponsors 2023 African Trade Exhibition, Promotes Foreign Direct Investment
First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has sponsored the Africa International Trade Exhibition (A.I.T.E 2023), held on 21 and 22 September 2023 at the Hilton Hotel Midtown, New York, U.S.A. The event was themed “the imperatives of global trade for African SMEs as a game changer for the continent’s future prosperity”.
Woven into the fabric of society, with the rich heritage of being the premier Bank in West Africa, FirstBank’s sponsorship of the event reiterated its commitment to being the bank of first choice and financial gateway in supporting businesses to boost the growth and socio-economic development of the continent in today’s fast-evolving business landscape.
Notable personalities and dignitaries at the event include Dr. Doris Uzoka-Anite, Minister of Industry Trade and Investment and representative of Senator Bola Tinubu (GCFR), President and Commander in Chief of the Armed Forces, Federal Republic of Nigeria; Mr Festus Keyamo, SAN, Minister of Aviation and Aerospace Development of Nigeria; Dr Mariya Mahmoud, Minister of State Federal Capital Territory; His Excellency, Adeyinka Asekun, Nigeria’s High Commissioner to Canada; Hon Abike Dabiri, Chairman/CEO, Nigerians in Diaspora Commission; Ambassa Bolaji Akintemi, Director, Economic, Trade and Investment, Ministry of Foreign Affairs, Nigeria; Mr Olukayode Pitan, Managing Director, Bank of Industry; Mrs Kanayo Awani, Executive Vice President, Intra-African Trade, African Export-Import Bank (Afreximbank); Dr. Adesola Adeduntan, Chief Executive Officer, FirstBank Group; Mr Oluwatosin Adewuyi, Executive Director, Corporate Banking, FirstBank and Mr Ini Ebong, Executive Director, Treasury and International Banking, FirstBank.
Tunde MacAlabi, Visioner of the African International Trade Exhibition project said “The AITE project is conceived to assist African SMEs to gain greater penetration in the North American market that has huge potentials.
The African American population in the US is 30 million strong, spending close to 1.2 trillion dollars as consumers.
The popularity of our afrobeat music, the ground that it is gaining in North America and the globe is remarkable. With this idea, pushing authentic African made products into the market to rise on the wave of the popularity of our music can diversify the sources of foreign exchange income that we accurately need in Nigeria and Africa.
Our effort is a complementary private sector driven initiative to help bridge the commercial gap to increase the commercial engagement between Nigeria, Africa and the USA.
Speaking at the event, Dr. Adesola Adeduntan, CEO of FirstBank Group said: “I am particularly delighted that this year’s theme beams the spotlight on a sector that can be referred to as the bedrock of Africa’s economic prosperity. Africa’s SME sector is also a good representation of the unyielding and resilient spirit of the African people in the face of many daunting challenges.”
With a vision to become “Africa’s Bank of First Choice”, FirstBank’s commitment to the development and economic transformation of the African continent is unwavering and we will continue to make the required investments to actualize this goal. I make bold to say that, in FirstBank, Africa has a dependable ally.
Indeed, it is the turn of Africa to rise, and FirstBank is strategically positioned to provide the required financial services support to the SME sector that will catalyze the next phase of Africa’s growth and development,” he concluded.
Representing Prof. Benedict Okey Oramah, President & Chairman, African Export-Import Bank (Afreximbank), Mrs Kanayo Awani, Executive Vice President, Intra-African Trade, African Export-Import Bank (Afreximbank) said “I am grateful to the African International Trade Exhibition (AITE) for the kind opportunity to participate in this event. I congratulate AITE for building this unique platform to rally global investments and policy support towards the attainment of the goals of the African Continental Free Trade Agreements. These activities of AITE are significant complements to Afreximbank’s trade facilitation agenda. We are therefore pleased to be associated with AITE and its activities.
We must continue to leverage the platforms created by the Bank and AITE to forge partnerships, share ideas and contribute to the growth and development of African SMEs to ensure that their potentials as the driving force for the transformation of the continent. As l like to say, the opportunity is now, and it has a shelf life.
Festus Keyamo, Minister of Aviation and Aerospace Development of Nigeria noted that “the importance of the aviation sector in Nigeria and any country cannot be overemphasised. The gains of the African Continental Free Trade Area (ACFTA) cannot be realized without a robust Aviation policy in Africa that will enhance the movement of goods and personnel across Africa.
We need to promote a robust Africa Aviation policy and find a way to liberalize the aviation sector within Africa.
I call on investors to come to Nigeria as the Aviation sector is the gateway for investment into the country, taking a cue from the speech of Mr. President yesterday to the world (during his address at the 78th Session of UN General Assembly), we are asking investors to come and partner with us as opportunities abound in Nigeria. We have the population, market, traffic and economy to support businesses.
Encouraging Nigerians in the diaspora to drive foreign direct investment into the country, Dr Uzoka-Anite, Minister of Industry, Trade and Investment spoke on behalf of Senator Bola Ahmed Tinubu (GCFR), President and Commander in Chief of the Armed Forces of Nigeria. She said “I enjoin Nigerians in the diaspora to invest in Nigeria. I know the spirit of being a Nigerian because I am one.
We are very prosperous, resilient, persistent, bold, audacious. We like to make decisions in our favour profitably. We are also very warm and welcoming. Galvanizing all these qualities and focus it back home will lead to us doing a whole lot.
The A.I.T.E 2023 Business, Trade, and Investment Summit convened business leaders, entrepreneurs and government functionaries from diverse sectors across Africa and the globe.
Held on the sidelines of the 78th Session of UN General Assembly (UNGA), the event promotes networking amongst think tanks whilst being a viable avenue for organisations to showcase cutting-edge products and services, thereby building valuable business relationships to drive economic advancement and cooperation beyond the African continent.
Ecobank Nigeria, a subsidiary of the leading Pan‑African financial services group, Ecobank Group, has announced the fifth edition of the Adire Lagos Experience, its flagship cultural and creative industry showcase. The event will take place from June 11–14, 2026, at the Ecobank Pan African Centre (EPAC), Victoria Island, Lagos.
The 2026 edition is themed “Threads Across Borders,” celebrating the depth and global resonance of Adire as a uniquely Nigerian art form, while positioning it within Africa’s broader textile and cultural narrative.
Rooted in Nigeria’s rich heritage, the Adire Lagos Experience continues to serve as a gateway for cross‑border cultural exchange, reinforcing Ecobank’s Pan‑African vision through culture‑led commerce.
The four‑day event will feature over 100 vendors, with the exhibition remaining predominantly Nigerian, reflecting the country’s leadership as the home and heartland of Adire production. To enrich diversity and continental collaboration, 10 percent of participating vendors will come from outside Nigeria, offering complementary African textile expressions and creative perspectives that foster knowledge exchange and cross‑border partnerships.
Speaking on the upcoming event, Omoboye Odu, Head, SMEs, Partnerships and Collaborations at Ecobank Nigeria, highlighted the intentional balance between cultural authenticity and Pan‑African inclusion.
“Adire is proudly Nigerian, and this platform remains firmly anchored in celebrating our local artisans and creative enterprises. At the same time, Ecobank’s Pan‑African mandate allows us to thoughtfully open the space to creators from other African markets, encouraging collaboration, shared learning, and trade connections that elevate African craftsmanship as a whole,” she said.
Beyond the exhibition booths, the Adire Lagos Experience 2026 will offer indigenous cuisine, African music and cultural performances, alongside curated networking and business engagement sessions designed to strengthen linkages across the Adire and wider creative value chain—from artisans and designers to merchants, buyers, and cultural enthusiasts.
As part of its ongoing commitment to supporting SMEs and the creative economy, Ecobank has opened registration for prospective exhibitors, with selected applicants eligible to receive complimentary exhibition booths. Applications close on April 28, 2026.
Through the Adire Lagos Experience, Ecobank continues to champion Nigeria’s cultural leadership while advancing Pan‑African collaboration—transforming heritage into enterprise and reinforcing its role as a truly Pan‑African institution driving impact beyond banking.
As the Central Bank of Nigeria’s (CBN) recapitaliSation exercise came to an end March 31, 2026, most banks operating in the country rose to the challenge and met the requirement ahead of time.
However, Fidelity Bank’s proactive approach paid off, and it continued to demonstrate its commitment to growth and innovation. In a remarkable display of investor confidence, Fidelity Bank opened and concluded a private placement in just one day on December 31, 2025. Leading institutions, including AFREXIM Bank and its subsidiaries, invested in the bank, showcasing their faith in Fidelity’s vision and leadership.
With the CBN’s verification process complete, Fidelity Bank’s capital base now exceeds the required N500 billion threshold. This milestone positions the bank to expand its footprint, drive growth, and deliver returns to investors.
Market analysts stated that the successful completion of the private placement underscores strong investor confidence in the bank’s growth strategy, governance framework and long-term fundamentals, even amid tightening regulatory standards and evolving macroeconomic conditions.
The lender had announced to the investing public that it has surpassed the N500billion regulatory capital threshold following the successful completion of a N259billion private placement of ordinary shares.
The Company Secretary, Fidelity Bank, Ezinwa Unuigboje in a signed statement on Nigerian Exchange Limited (NGX) disclosed that the private placement, conducted with the approval of the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), was opened and closed on December 31, 2025.
According to her, the proceeds from the exercise lifted Fidelity Bank’s eligible capital from N305.5billion to N564.5billion, subject to final regulatory approvals.
The latest capital raise positions the lender comfortably above the new minimum capital requirement of N500billion for commercial banks with international authorisation, as stipulated by the apex bank under its banking sector recapitalisation programme. According to the bank, the private placement was carried out pursuant to the mandate granted by shareholders at its Extraordinary General Meeting held on February 6, 2025.
At the meeting, shareholders authorised the board to issue up to 20 billion ordinary shares through a private placement as part of measures to strengthen the bank’s capital base and enhance its capacity to support economic growth. The N259billion raised through the private placement builds on earlier capital-raising efforts by the bank. Fidelity Bank had stolen the show by taking a bold step in June 2024, launching a Public Offer and Rights Issue to raise capital.
Fidelity Bank successfully raised N175.85billion via a combination of a public offer and rights issue, which had increased its eligible capital to N305.5billion at the time. That exercise left a capital shortfall of N194.5billion relative to the new regulatory benchmark, a gap now fully covered by the latest transaction. Fidelity Bank’s strategic moves have set it up for success, and the stage is set for the bank to make significant strides in the Nigerian banking sector. Fidelity Bank noted that the strengthened capital position will enhance its balance sheet resilience, support business expansion, and enable it to play a more robust role in financing key sectors of the Nigerian economy, in line with regulatory expectations. The bank added that it remains focused on value creation for shareholders, prudent risk management and sustained profitability as it navigates the post-recapitalisation phase of the banking sector. Meanwhile, the stock price of Fidelity Bank closed trading April 10, 2026 at N19.50 per share on the NGX.
Access Bank Plc has been named Nigeria’s Most Valuable Brand for the fifth consecutive year by Brand Finance, reinforcing its leadership position in the country’s financial services sector.
Brand Finance announced this in its Nigeria 25 2026 report, which ranks the country’s strongest brands based on brand value, brand strength, and underlying business performance. According to the report, Access Bank’s brand value stands at ₦773.2 billion, maintaining its number one ranking despite short term macro-economic and market pressures.
It attributed the marginal year-on-year decline in brand value to a deliberate strategic shift, as the Bank continues to prioritise long term growth, regional expansion, and international scale over shortterm domestic margins.
Brand Finance pointed out that Access Bank’s sustained leadership reflects a longterm brand strategy anchored on scale, trust, and regional relevance, positioning the Bank to maintain brand strength and resilience as Nigeria’s economy continues its gradual recovery and the competitive landscape evolves.
It highlighted Access Bank’s transition from a local market leader to a cross continental financial infrastructure provider, noting that stronger contributions from its African operations helped offset a decline in Nigerian income during the period. This repositioning supports the Bank’s ambition of serving as a key gateway between Africa and global financial markets.
Importantly, the Brand Finance report also recorded a strengthening of the Access Bank brand, with the Bank rising to third place nationally on the Brand Strength Index (BSI), achieving a score of 88.7/100 and retaining an AAA brand rating. Brand Finance links this improvement to stronger brand coherence across markets and clearer strategic positioning following the consolidation of international acquisitions.
Commenting, Babatunde Odumeru, Managing Director, Brand Finance Nigeria, said, a defining shift in the business environment has been the movement from survival to resilience, with brands that invested through uncertainty now emerging stronger.
“This report highlights a key trend: trust is now the fundamental driver of business growth. With consumers now more cautious about how they spend their money, brands must offer a reliability premium in order to build trust, which is an essential foundation for customer loyalty. The brands that have achieved this have not just stood out but have consistently grown their brand value and maintained their lead in the Brand Finance rankings: If you are reliable, you are valuable.”
Odumeru noted that the rankings were dominated by the banking and manufacturing sectors, driven by homegrown resilience and digital savviness required to convert engagement into customer loyalty. This dynamic, he said, reflects a collaborative strength between the two sectors that continues to underpin Nigeria’s overall brand value.
The Brand Finance Nigeria 25 report is published annually and assesses Nigeria’s leading brands using a combination of brand value, brand strength, and comprehensive market analysis.
