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Mentorship: Nestle Empowers 10,000 Students Across Nigeria

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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.

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The Banker Awards: Access Bank Wins 2025 Bank of the Year – Nigeria

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Access Bank has been named Bank of the Year 2025 – Nigeria at the prestigious Banker Awards ceremony held in London on Wednesday, December 3, 2025. Organised annually by The Banker, a publication of the Financial Times Group, the awards celebrate the best-performing financial institutions across more than 120 countries, recognising excellence in innovation, financial performance, operational resilience, and industry leadership.

The announcement was made during a high-profile gala at the Peninsula Hotel in London, where leading global banks gathered to celebrate outstanding achievements in the international financial services sector. Access Bank emerged as the sole winner for Nigeria, reflecting the Bank’s exceptional performance, disciplined execution of strategy, and continued commitment to delivering world-class banking experiences.

Speaking on the recognition, Roosevelt Ogbonna, Managing Director/CEO, Access Bank, said: “This award reflects the remarkable dedication of our people and the trust of our customers. Being recognised as Bank of the Year 2025 – Nigeria is a strong validation of our strategy to build a globally connected, digitally powered, and sustainably driven banking institution.

We remain committed to delivering exceptional value across all our markets while contributing meaningfully to Africa’s economic advancement.”

Access Bank has continued to solidify its position as one of Africa’s most forward-thinking financial institutions, driven by innovation, customer-centricity, and strong corporate governance. The Bank’s strategic investments across digital transformation, trade finance, financial inclusion, and sustainable banking have positioned it as a leading force shaping Africa’s financial future.

These initiatives, coupled with its disciplined approach to growth and operational excellence, continue to set Access Bank apart within the continent’s rapidly evolving financial landscape.

Each year, The Banker undertakes a rigorous, five-month evaluation process involving more than 1,000 applications submitted by banks worldwide. Only one bank is selected per country, underscoring the exclusivity and prestige of the award. Access Bank’s victory therefore represents not only a recognition of its achievements over the past year but also a reaffirmation of its long-term commitment to driving innovation, supporting customers, and enabling a more connected African and global economy.

With operations spanning three continents and a customer base of more than 60 million, Access Bank continues to demonstrate its capability and ambition to shape the future of banking in Africa and contribute meaningfully to global financial progress.

About Access Bank

Access Bank, a wholly owned subsidiary of Access Holdings Plc, is a leading full-service commercial bank operating through a network of more than 700 branches and service outlets spanning 3 continents, 24 countries and over 60 million customers. The Bank employs over 28,000 people in its operations in Africa Asia and Europe, with representative offices in China, Lebanon, India, and the UAE.

Access Bank is a diversified financial institution which combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management, and capital management capabilities.

The Bank services its various markets through three key business segments: Corporate and Investment Banking, Commercial Banking, and Retail Banking. The Bank has enjoyed what is Africa’s most successful banking growth trajectory in the last 20 years, becoming one of the continent’s largest retail banks. As part of its continued growth strategy,

Access Bank is focused on mainstreaming sustainable business practices into its operations. The Bank strives to deliver sustainable economic growth that is profitable, environmentally responsible, and socially relevant, helping customers to access more and achieve their dreams.

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CBN Increases ATM Daily Cash Withdrawal Limit to N100k

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The Central Bank of Nigeria (CBN) has increased cash withdrawal limits on all channels to N500,000 weekly for individuals and N5 million for corporates.

Announcing the policy revision in a circular on Tuesday, the regulator pegged automated teller machine (ATM) withdrawals at N100,000 daily, with a weekly cumulative withdrawal of N500,000.

The development is a major shift from tighter cash policy measures introduced under the previous administration.

In December 2022, the central bank, under Godwin Emefiele, its former governor, had directed deposit money banks and other financial institutions to limit over-the-counter cash withdrawals by individuals and corporate entities per week N100,000 and N500, 000, respectively.
The CBN’s latest policy reversal, also removed the cumulative deposit limit, saying the fee on excess deposit “shall no longer apply”.

According to the regulator, the policies form part of efforts to moderate the rising cost of cash management, address security concerns, and “reduce the potential for money laundering associated with the economy’s heavy reliance on cash”.

The bank said the policies, issued over the years in response to evolving circumstances in cash management, sought to reduce cash usage and encourage accelerated adoption of other payment options, particularly electronic payment channels.

However, with the “effluxion of time”, the apex bank said the need has arisen to streamline the policies’ provisions to reflect present-day realities.

“Consequently, effective January 1, 2026, the following cash-related policies, which are for mandatory compliance by all deposit-taking financial institutions in Nigeria, shall apply nationwide,” the circular reads.

“The cumulative deposit limit is hereby removed and the fee for excess deposit shall no longer apply.

“The cumulative weekly withdrawal limit across all channels shall be N500,000 for individuals and N5 million for corporates. Cumulative weekly withdrawals above these limits shall attract excess withdrawal fees as indicated in ‘5’ below.

“The special authorisation for withdrawal of N5 million and N10 million once monthly by individuals and corporates, respectively, shall no longer apply.

“Automated Teller Machine (ATM) withdrawal limit shall be N100,000 daily (per customer), subject to a maximum of N500,000 weekly. As indicated in ‘2’ above, cash withdrawals from ATMs and point of sale devices are part of the weekly withdrawal limit indicated therein.

“Excess cash withdrawals (withdrawals above the levels indicated in ‘2’ above) shall attract fees of 3 percent and 5 percent to individual and corporate customers, respectively, on the excess amount withdrawn. The fee shall be shared 40 percent to the CBN and 60 percent to the bank or financial institution.”

According to the circular, signed by Rita Sike, CBN’s director of financial policy and regulation department, said all currency denominations “may be loaded in ATMs”.

However, the CBN retained the limit on over-the-counter encashment of third-party cheques at N100,000.

“Account holders are advised that any withdrawal under this section will form part of the cumulative weekly set in ‘2’ above”.

“Banks shall render the following monthly returns (in a format to be advised) to the respective supervisory departments (Banking Supervision Department, Other Financial Institutions Supervision Department and Payments System Supervision Department) as applicable:

“a . Returns on cash withdrawal transactions above the specified limit;

“b. Returns on Cash Deposits

“Deposit Money Banks (DMBs) shall create separate accounts to warehouse processing charges collected on cash withdrawals above the limits.

“The following accounts/entities are exempted from the application of sections 2 and 5 of this circular:

“i. Revenue generating accounts of federal, state, and local governments; and

ii. Accounts of microfinance banks and primary mortgage banks with commercial and non-interest banks.

The CBN also said the exemption of embassies, diplomatic missions and aid-donor agencies from specific cash policies “shall no longer apply”.

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Citigroup Honours Fidelity Bank for Leadership in Cross-Border Payment Efficiency

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Fidelity Bank Plc has received the Straight-Through Processing (STP) Excellence Award from Citigroup in recognition of its outstanding operational efficiency in foreign currency payments in 2024.

STP refers to transactions processed accurately and without human intervention, resulting in a cost-effective and timely process. Fidelity Bank, which has consistently earned this award over the years, achieved an impressive 97%+ STP rate in concluding USD payments in the awarding period.

Citigroup, a leading global bank headquartered in New York and present in more than 160 countries, annually honors select banks and financial institutions that demonstrate the highest levels of efficiency in foreign currency transactions.

Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer, Fidelity Bank Plc, attributed the achievement to customer trust and the team’s dedication.

“This award reflects the quality of initiatives we have implemented to simplify cross-border payments for our customers. It affirms our commitment to delivering cutting-edge services in servicing our valued customers,” said Dr. Onyeali-Ikpe.

The recognition adds to a growing list of accolades for Fidelity Bank especially in deploying innovative services and products in meeting customer needs. These include an award from the Nigeria Customs Service for being the first bank to successfully process Customs Duty and the Pre-Arrival Assessment Report (PAAR) on the Unified Customs Management System (UCMS). The bank also won Most Innovative Bank of the Year and Best Bank for Export and Trade Finance at the 2025 BusinessDay Bank and Other Financial Institutions’ (BAFI) Awards.

“We are delighted by this recognition and remain committed to providing seamless, value-adding services to our customers as we pursue our mandate to help individuals grow, support businesses to thrive and propel economies to prosper,” added Dr. Onyeali-Ikpe.

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