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Heirs Energies Signs $750m Afreximbank Financing to Drive Long-Term Growth

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Heirs Energies Limited, Nigeria’s leading indigenous integrated energy company, has executed a USD 750 million financing with the African Export–Import Bank (Afreximbank).

The transaction was concluded at a signing ceremony in Abuja on Saturday 20th December 2025, attended by Mr. Tony O. Elumelu, CFR, Chairman of Heirs Energies, and Dr. George Elombi, President and Chairman of Afreximbank.

The transaction represents one of the largest financings secured by an indigenous African energy company and demonstrates lender confidence in Heirs Energies’ operating performance, governance standards, proprietary brownfield excellence capability, and long-term growth trajectory.

Since assuming operatorship of OML 17, Heirs Energies has delivered a disciplined transformation programme, focused on restoring production, strengthening asset integrity, and improving operational efficiency. Through targeted brownfield interventions and infrastructure optimisation, the Company has successfully transitioned from acquisition-led financing to a capital structure aligned with the long-term development profile of its reserves.

Oil and gas production has doubled, from an acquisition production level of 25,000 barrels of oil per day (bopd) and 50 million standard cubic feet of gas per day (mmscf/d). Today, OML-17 produces over 50,000 bopd and 120 mmscf/d. All the gas production goes into the Nigerian domestic gas market and has been catalytic for power generation in Nigeria. Community relations have been transformed and the highest standards of health and safety implemented.

The Afreximbank facility will accelerate field development, optimise production, and allow Heirs Energies to pursue value-accretive growth opportunities, while maintaining disciplined capital management.

Speaking at the signing, Mr. Tony O. Elumelu, CFR, Chairman of Heirs Energies, said:

“This transaction is a powerful affirmation of what African enterprise can achieve when backed by disciplined execution and long-term African capital. It reflects the successful journey Heirs Energies has taken – from turnaround to growth – and reinforces our belief in African capital working for African businesses. This is Africa financing Africa’s future.”

Dr. George Elombi, President and Chairman of Afreximbank, stated:

“Afreximbank is proud to support Heirs Energies at this pivotal stage of its growth. This financing reflects our confidence in the Company’s leadership, governance, and asset base, and aligns with our mandate to support African champions that are driving sustainable economic transformation across the continent.”

The transaction further reinforces Afreximbank’s role in enabling indigenous operators with the scale and capability to deliver sustainable energy development, energy security, and long-term economic value across Africa.

With this milestone achieved, Heirs Energies is firmly positioned to advance into its next phase of growth, focused on operational excellence, responsible resource development, and enduring value creation for stakeholders.

Heirs Energies Limited is Africa’s leading indigenous-owned integrated energy company, committed to meeting Africa’s unique energy needs, while aligning with global sustainability goals.  Having a strong focus on innovation, environmental responsibility, and community development, Heirs Energies leads in the evolving energy landscape and contribute to a more prosperous Africa.

The African Export-Import Bank is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. The Bank plays a critical role in supporting Africa’s industrialisation, trade expansion, and economic transformation.

Picture: Chairman, Heirs Energies, Mr. Tony O. Elumelu CFR and President and Chairman of the African Export-Import Bank (Afreximbank), Dr. George Elombi, during the signing ceremony to mark the execution of a USD 750 million Financing Transaction between Heirs Energies and the Afreximbank in Abuja on Saturday

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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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Access Bank UK Polo Day 2026 Holds July 4 in Windsor

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Access Bank has set Saturday, July 4, 2026 to host its annual UK Polo Day in Windsor, an event when judged by past editions, promises to be one of the season’s most captivating social experiences.

The guest list is a true global roll call, bringing together investors, entrepreneurs, public sector leaders, and cultural influencers, from around the world. It is the kind of setting where a brief exchange over lunch can swiftly evolve into a strategic partnership by day’s end.

But beyond the prominence of those in attendance lies a deeper significance: the collective impact their presence is helping to drive, far beyond Windsor, and thousands of miles away in Northern Nigeria.

The Access Bank UK Polo Day has always carried a philanthropic dimension. This year, that dimension takes centrestage. Proceeds from the event will go directly towards the construction of additional classroom blocks in underserved communities across Northern Nigeria, a region where the gap between school-age children and available learning spaces remains one of the most stubborn obstacles to progress.

For many families in these communities, a classroom is not a given; it is a luxury. Access Bank has been changing that. The numbers tell a familiar and troubling story. Millions of children across Nigeria’s north remain out of school, some because of distance, some because of poverty, and many simply because there is no building to go to.

Bricks and mortar matter. A classroom block does not just give children somewhere to sit; it signals to a community that their children’s futures are worth investing in. It draws teachers. It gives girls a reason, and a safer route, to stay in education. It plants something durable in a place that often feels forgotten by the institutions that should be paying attention. This is the logic behind Access Bank’s commitment.

Access Bank has long recognised that financial inclusion and human development are not parallel pursuits, but one continuous journey. A resilient economy cannot be built on an undereducated workforce, nor can a generation be empowered without first equipping it with the tools to learn. In that sense, the classroom blocks being funded through this year’s Polo Day represent more of a deliberate investment in long-term economic growth than a humanitarian gesture.

What started as a polo fixture has grown into something harder to categorise: part networking forum, part celebration of what African enterprise looks like on a global stage. For Access Bank, the day has become one of the clearest expressions of what the institution is actually trying to do: make it easier for capital, talent, and ideas to move across borders, and to ensure that the benefits of that movement reach communities that rarely appear on an investor’s map.

This year’s event arrives at a moment when those connections feel more urgent than ever. Trade corridors are shifting. Development finance is being redirected. And the institutions best positioned to lead are those that already have trusted relationships and the credibility to match.

Access Bank has spent the better part of two decades building those relationships. The Polo Day is where they show up in person. Windsor lends the occasion its own particular atmosphere. A short drive from London but removed enough from the city to encourage the kind of unhurried conversation that rarely happens in a boardroom, it is a fitting setting for an event that has always been as much about relationship-building as it is about sport.

Jamie Simmonds, Managing Director of The Access Bank UK, was direct about what the day means: “Every year, we bring together an extraordinary community of leaders from across the world. People come to strengthen relationships, explore new possibilities, and contribute to something that matters. What matters most is the chance to make a real, lasting difference in the lives of young Nigerians who simply need a place to learn.”

For Nigerian observers, the symbolism is hard to miss. A bank founded on Nigerian soil is using one of England’s most prestigious social calendars to raise money for classrooms in Kaduna. That is not a small thing; it is a statement about where Access Bank believes its obligations lie, to shareholders and regulators as well as communities that made it possible in the first place.

The matches will be played. The conversations will happen. And somewhere in Northern Nigeria, a child will eventually walk into a classroom that did not exist before July 4, 2026.

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