Business
Mentorship: Nestle Empowers 10,000 Students Across Nigeria
Nestlé Nigeria has launched a mentoring program for secondary schools powered by Nestlé Cares, the company’s global employee volunteering program.
The mentoring program which aims to reach over 10,000 JSS 2, SS 1 and SS 2 students in public secondary schools across the country with training on life values and life skills is delivered in collaboration with REVAMP Africa, a youth-focused non-profit organization with the vision to revive educational values and maximize potential among young people, especially in public
secondary schools.
Starting with over 1,000 students of the Ilupeju Secondary School, in Lagos, in July 2021, Nestlé Cares volunteers have extended the program to the Company’s host communities in Sagamu and Abaji, reaching over 2,000 students at the Owode High School, Obafemi Owode in Ogun State and at the Government Secondary School, Abaji over a 4-week period.
According to Victoria Uwadoka, Nestlé’s Corporate Communications and Public Affairs Manager, “Nestlé Cares, provides employees the opportunity to make an impact in local communities. It is a proven fact that good habits formed at a young age, set the tone for a productive, successful
future. Through the Mentorship Program developed in collaboration with REVAMP Africa, we are happy to make a difference by helping young Nigerians in secondary schools to imbibe the values that would equip them as a future generation of transformational leaders.”
“We are delighted to see how passionate our employees are to engage with the young people, teaching them the benefits of having the right values. We also teach the youth how to handle peer pressure, interpersonal relationships, time management and goal setting. In addition, we teach them the benefits of healthy nutrition which is key to a healthy life.
Speaking on the collaboration with Nestlé, the Founder, REVAMP Africa, Kelechi Anyalechi said, “We are a youth-focused non-profit organization with the vision to revive educational values and maximize potential among young people, especially in public secondary schools. We are raising
leaders, who will transform their communities, country, Africa and the world.
We are always so inspired to see the turn-out of Nestlé employees which demonstrates their strong commitment
to making a difference in society. In addition to Lagos, Sagamu and Abaji, we will be extending the mentoring program to public secondary schools in Enugu, Port-Harcourt, Jos, Kaduna, Agbara and Abuja reaching over 10,000 students in the coming months.”
Recounting her experience during the four weeks of the mentoring program, Akinwale Temitope, a student of SS1 C in Ilupeju secondary school said, “I learnt a lot about values. The value that stood out most for me was humility, the quality of modesty. I also learnt about setting goals, time
management and self-reliance. Thank you, Nestlé Cares and Revamp Africa, for the opportunity to learn.”
Commenting on the program, the principal of Ilupeju Secondary School Mr. Adeoye B.
Adebowale said “I want to thank Nestlé for coming to mentor our students, and for helping us and the government add value to the younger generation. Our mission is to be the foremost school where academics with high moral values are achieved. This mentoring program reiterates what we do and what we believe in.”
Victoria Uwadoka reaffirmed that Nestlé Cares Employee Volunteer Program will continue to provide opportunities for Nestlé employees to give back to society by offering their time, talent and resources while impacting individuals and families, communities, and the environment.
Sterling Bank, on Wednesday, announced the removal of account maintenance fees on all personal accounts, describing the decision as a “gift” to Nigerians in celebration of the country’s 65th Independence Day.
The decision, which follows the abolition of transfer fees on local online transactions in April 2025, was outlined in a statement shared by the bank. The bank said the policy would allow customers to keep more of their earnings, framing it as a step toward financial freedom.
“Every fee we remove is one less barrier between our customers and true financial freedom. This was the rationale behind eliminating transfer fees in April, and it is the same principle we uphold as we eliminate account maintenance fees,” Sterling Bank’s Managing Director, Abubakar Suleiman, said.
The statement highlighted that in 2024 alone, tier-1 banks in Nigeria earned over ₦650 billion from account maintenance and e-banking charges. “This decision cuts at the heart of a revenue model that has long cost Nigerian customers dearly,” the bank noted.
Obinna Ukachukwu, Sterling’s Growth Executive for Consumer and Business Banking, said the initiative was intended to strengthen long-term relationships with customers. “This initiative is about building lasting relationships that fuel sustainable growth. We put transparency and customer value first, and in doing so, we are building a foundation that serves both our customers and Sterling’s future,” he said.
Sterling Bank also framed the removal of fees as part of a broader strategy to make banking more inclusive and customer-focused. The April 2025 transfer fee abolition had already eliminated charges on all local online transactions, easing costs for individuals and small businesses. At the time, Ukachukwu described the move as a values-driven decision aimed at ensuring fair access to money.
“Access to your own money shouldn’t come with a penalty. This is more than a financial decision—it’s about redefining banking to put customers first,” Ukachukwu said.
The latest move aligns with Sterling’s positioning as a bank committed to transparency, customer value, and digital innovation, and it signals a continued effort to reshape banking practices in Nigeria.
Guaranty Trust Holding Company Plc has reported a profit before tax of N600.9 billion for the half year ended June 30, 2025.
The figure is contained in the company’s audited consolidated and separate financial statements, which were released to the Nigerian Exchange Group and the London Stock Exchange.
The group stated that the performance was driven by growth in core earnings lines, including interest income and fee income, which rose year-on-year by 31.5% and 33.0%, respectively.
It explained that the growth helped to cushion the absence of N493.01 billion in fair value gains recorded in 2024, resulting in a 40 per cent decline.
GTCO stated that its total assets stood at N16.7 trillion, while shareholders’ funds totaled N3.0 trillion during the review period.
It added that its balance sheet remained strong, diversified, and de-risked across operating jurisdictions, as well as its payments, pension, and funds management businesses.
The group disclosed that its Capital Adequacy Ratio closed at 36.2 per cent, while asset quality improved with IFRS 9 Stage 3 loans declining to 3.2 per cent.
At the group level, Stage 3 loans stood at 4.5 per cent, compared with 5.2 per cent in December 2024.
Similarly, the cost of risk improved to 1.7 per cent from 4.9 per cent recorded in December 2024.
The company stated that its net loan book increased by 20.5 per cent, from N2.79 trillion in December 2024 to N3.36 trillion in June 2025.
Deposit liabilities also increased by 16.6 per cent from N10.40 trillion to N12.13 trillion during the same period.
The board of GTCO approved an interim dividend of N1.00 per share for the half year ended June 30, 2025.
Commenting on the results, Segun Agbaje, Group Chief Executive Officer, said the half-year performance reflected business strength and progress towards building a diversified financial services ecosystem.
He said beyond last year’s extraordinary one-off gains, the group was now driving sustainable growth with recurring earnings that demonstrated the resilience and scalability of its model.
Mr Agbaje noted that continued investment in technology, particularly in core banking upgrades, was delivering stronger uptime, efficiency, and greater capacity to scale with a growing customer base.
He added that across banking, funds management, pension, and payments, GTCO was leveraging a de-risked balance sheet to reinforce its market position while maintaining strategic flexibility. According to him, this foundation positions the group to seize emerging opportunities and deliver lasting value for all stakeholders.
Mr Agbaje stressed that GTCO had continued to post some of the best metrics in Nigeria’s financial services industry in terms of key financial ratios. He said the group recorded Pre-Tax Return on Equity of 60.4 per cent, Pre-Tax Return on Assets of 10.6 per cent, Capital Adequacy Ratio of 36.2 per cent, and Cost-to-Income ratio of 30.1 per cent.
NAN
In line with its commitments of promoting sports and developmental initiatives at all levels, First Bank of Nigeria Limited is partnering the organizers of the first of its kind E1 Lagos GP an all-electric powerboat racing championship, set to hold between the 3rd and 5th of October 2025.
Disclosing this at the E1 Lagos GP Stakeholder Immersion session in Lagos recently, Olayinka Ijabiyi, the Acting Group Head, Marketing and Corporate Communication of FirstBank, reaffirmed the Bank’s commitment to supporting initiatives that engender human development across the country while cementing legacies.
“Our involvement in the E1 Lagos GP is about driving legacy and enabling the passions and aspirations that unite Nigerians. We are a bank that has been in business for over 131 years and we recognize that sports drives us as a country, which is why through our First@Sports initiative, we continue to invest in platforms that inspire and elevate our people. We have been supporting legacy sport tournaments like the Georgian Polo Cup which we have hosted for 105 years, and the Lagos Amateur Open Golf Championship for 64 years now,” Ijabiyi said.
With the event slated for the start of the fourth quarter, FirstBank is aligning its partnership with the annual DecemberIssaVybe initiative, a campaign that celebrates the vibrant spirit of Nigerians during the festive season by curating unforgettable experiences that blend culture, entertainment and lifestyle. “FirstBank is deeply woven into the fabric of society and the lives of our customers. As presenting partner, we are creating meaningful touchpoints with customers and prospects, offering them a world-class experience of relaxation and celebration that captures the true essence of Lagos during the festive season,” he added.
Lagos State Commissioner for Information and Strategy, Gbenga Omotoso, who was also at the event, described the initiative as an event that will grow not just the sports but also showcase Lagos’s vibrant culture, dynamic people, and global relevance, while commending FirstBank for their support.
The teams owned by notable stars like Tom Brady, LeBron James, Didier Drogba, Will Smith, Marc Anthony, Steve Aoki, Rafael Nadal will compete in the Lagos leg before the 2025 season of the competition terminates in Miami in the United States.
