Business
Nestlé Nigeria Celebrates 22 Years of Grassroots Sports Development with Basketball Championship
By Solomon Ekhaiyeme
Nestlé has announced the 2022 finals of MILO Secondary Schools’ Basketball Championship. It noted that the draws to determine the pattern of play at the finals were also held during the event. Twelve teams will play in the finals: six each in the male and female categories.
The finalists include Government Secondary School, Numan, Adamawa State; Akpur College, Gboko, Benue State; St. Jude’s Girls Secondary School, Amarata, Bayelsa State; David Hall College, Obalende, Ikoyi, Lagos State; Government Girls Secondary School, Bukavu, Kano State; and Queen Amina College, Sabon-Tasha, Kaduna State in the girls’ category.
In the boy’s category are Dutse Model International Secondary School, Jigawa State; Government Secondary School, Karu, FCT; King Amachree Academy, Port Harcourt, Rivers State; Topfield College, Ajugunle, Apapa, Lagos; Victorroti Private Secondary School, Idi-Aba, Abeokuta, Ogun State and Bishop Dimieari Grammar School, Obom, Bayelsa State.
The Championship started this year with over 10,000 teams participating at the State preliminaries. The winners from the first stage went on to the Regional Conference stage where the finalists who will play in the National Finale emerged.
During the press conference, the Managing Director and Chief Executive Officer of Nestlé Nigeria PLC, Mr. Wassim El-Husseini said “For over two decades now, Nestlé has been at the forefront of grassroots sports development in Nigeria through the Nestlé MILO Secondary Schools’ Basketball Championship. We continue to do our utmost to help shape a healthier and happier generation of Nigerians by encouraging them to participate in sporting activities. MILO Basketball Championship also provides a platform to help children imbibe values that set the right foundation for their future. They learn grit – perseverance through hardship, courage to overcome fear, ability to work in a team, self-belief, respect, and leadership.”
Also speaking at the press conference, the Category Manager – Beverages, Nestlé Nigeria PLC, Mr. Olutayo Olatunji said “The MILO Basketball Championship now brings together over 10,000 schools every year. This Championship started with less than 500 schools in 1999. The school game has grown beyond being just a sport to a passion that helps to discipline the body and mind. We thank our long-standing partners who have been part of the success of the MILO Basketball Championship for these 22 editions – the Nigerian Schools Sports Federation (NSSF), the National Collegiate Sports Foundation (NCSF)”.
According to the National President of the Nigeria Schools’ Sports Federation, Olabisi Joseph, “Nestlé Nigeria PLC has made significant contributions to the growth of sports in Nigeria and the creation of a bright future for young people by supporting and promoting basketball in schools.” She said further, “Every year, our schoolboys and girls look forward to participating in the biggest grassroots basketball championship in Africa, which is fondly called MILO Basketball.”
Mr. Lanre Balogun, Executive Secretary of the National Collegiate Sports Foundation (NSSF), who also spoke at the press conference said, ”This Championship continues to grow from strength to strength, thanks to the commitment of our sponsors, Nestlé Nigeria PLC. We will all agree that 22 years of continuous sponsorship in the life of any organization is highly commendable and worthy of emulation. Therefore, Nestlé Nigeria PLC deserves all the accolades for maintaining the sponsorship of this event.”
The draws grouped the six teams in the girls’ and boys’ categories each into groups ‘A’ and ‘B’. In the girls’ category, St. Jude’s Girls Secondary School, Amarata, Bayelsa State, Government Girls Secondary School, Bukavu, Kano State and Queen Amina College, Sabon-Tasha, Kaduna State will play in group ‘A’, while David Hall College, Obalende, Ikoyi, Lagos State, Government Secondary School, Numan, Adamawa State and Akpur College, Gboko, Benue State and will play in group ‘B’.
In the boys’ category, Government Secondary School, Karu, FCT, Bishop Dimieari Grammar School, Obom, Bayelsa State and Victorroti Private Secondary School, Idi-Aba, Abeokuta, Ogun State will play in group ‘A’ while Topfield College, Ajugunle, Apapa, Lagos, King Amachree Academy, Port Harcourt, Rivers State and Dutse Model International Secondary School, Jigawa State, will play in group ‘B’.
The first Conference – Savanna Conference – was hosted at the Sanni Abacha Stadium, Kano, from 7th to 13th of May 2022. The states that make up this Conference are: Yobe, Borno, Taraba, Zamfara, and host Kano. Others are Gombe, Katsina, Bauchi and Jigawa.
The girls from Government Secondary School, Numan, Adamawa State, won in the girls category while the boys from Dutse Model International Secondary School, Jigawa State won in the boys category.
The Championship then moved to the Ilorin Township Stadium, in the Kwara State capital, for the Central Conference from 14th to 20th of May. The states invited to play at the Central Conference are Niger, Nasarawa, Plateau and host Kwara. Others are Benue, Kebbi, Kaduna, Sokoto and the F.C.T (Abuja). Akpur College, Gboko, Benue State emerged Champions in the girls’ category, while Government Secondary School, Karu, FCT won in the boys’ category.
The Equatorial Conference was hosted at the Nnamdi Azikiwe Stadium, Enugu from 21st to 27th of May 2022. The states that make up this Conference are Rivers, Bayelsa, Cross River and host Enugu. Others are Akwa Ibom, Ebonyi, Abia, Imo and Anambra. St. Jude’s Girls Secondary School, Amarata, Bayelsa State won in the girls’ category while King Amachree Academy, Port Harcourt, Rivers State won in the boys’ category.
The fourth and final Conference – Western Conference – was hosted at the Lekan Salami Stadium, Adamasingba in Ibadan, the Oyo State capital from the 28th of May to the 3rd of June. The Conference comprises: Lagos, Ondo, Ogun, Ekiti and the host state, Oyo. Others are Edo, Delta, Osun and Kogi. At this Conference, David Hall College, Obalende, Ikoyi, and Topfield College, Ajugunle, Apapa, both from Lagos won in the girls’ and boys’ categories respectively.
As it is the tradition of the Championship, four best losing teams were also invited to participate in the grand finale. In the girls’ category both Government Girls Secondary School, Bukavu, Kano State and Queen Amina College, Sabon-Tasha, Kaduna State emerged best losing teams from the four Conferences while Victorroti Private Secondary School, Idi-Aba, Abeokuta, Ogun State and Bishop Dimieari Grammar School, Obom, Bayelsa State emerged in the boys’ category from the four Conferences.
These six teams will jostle for the coveted prices of a Champions trophy, cash prize, basketball kits and lots of other MILO goodies in both the boys’ and girls’ categories of the Championship. This year, the National Finals will hold at the Indoor Sports Hall of the National Stadium in Surulere, Lagos from June 25 to July 1, 2022. The final games will be played in both the girls’ and boys’ categories on Thursday June 30, 2022.
In a world where approximately 20% of new businesses fail within the first two years, 45% within five years, 65% within ten years, and only 25% make it to 15 years or more (according to the US Bureau of Statistics), any business that has crossed 15 years should be sharing insights on survival and success.
But what about businesses that have lasted twice that long? Or a financial services group that has thrived for over 130 years, especially in Africa, where business survival rates are likely lower than those statistics from the Global North? Such a group has certainly earned the right to teach masterclasses on business longevity.
First HoldCo Plc (FirstHoldCo), recently rebranded from FBN Holdings Plc, exemplifies sustainable business practices. A well-diversified group, it is one of Africa’s largest financial services organisations, offering innovative financial solutions through its subsidiaries in commercial banking, asset management, capital markets, securities, trusteeship, and insurance brokerage. FirstHoldCo ensures strategic coordination and synergy among its subsidiaries to deliver long-term value for stakeholders.
Retaining the legacy strengths and experience of FBN Holdings Plc, FirstHoldCo ensures that its subsidiaries enhance positive environmental, social, and governance (ESG) impacts while minimising or eliminating negative ones. This includes managing ESG risks in the workplace, marketplace, community, and environment, with the institutional capability to turn risks into opportunities.
For example, ESG risk management enhances credit and investment decision-making, de-risking processes for subsidiaries such as FirstBank and FBNQuest. It also strengthens social relationships with the communities in which these subsidiaries operate.
ESG and sustainability may be buzzwords for some corporations seeking to appear politically correct, but at FirstHoldCo, they are integral to its identity. The company is self-driven in aligning its strategy and operations with ESG principles and setting new sustainability benchmarks for financial services in Nigeria.
FirstHoldCo’ s flagship subsidiaries, FirstBank and FBNQuest, integrate ESG risks into their products, services, and offerings from the ideation stage through to development and launch. This approach drives responsible lending and investment practices, enabling the group to leverage ESG market opportunities while promoting sustainable socio-economic growth.
FirstHoldCo also prioritises people empowerment, fostering a work environment rooted in equal opportunities, diversity, and inclusion. A notable achievement is bridging the diversity gap, reaching a 40% female to 60% male employee ratio in 2023, one year ahead of its 2024 target.
The group also supports the communities where its subsidiaries operate, ensuring its impact resonates positively. Since 2017, it has implemented the SPARK (Start Performing Acts of Random Kindness) initiative and Corporate Responsibility and Sustainability (CR&S) Week. In 2023, these initiatives impacted 60,000 lives through outreaches to 60 orphanages, 20 schools, and hospitals across Nigeria, Ghana, Senegal, The Gambia, the Democratic Republic of Congo, Sierra Leone, and the United Kingdom. Donations included consumables, computers, clean water projects, school renovations, wheelchairs, and cash. Employees committed over 27,000 volunteer hours to these initiatives.
In 2023, FirstBank reinforced its commitment to empowering women through FirstGem, a financial product supporting women-led businesses. Over N36 billion in loans were disbursed at a single-digit interest rate of 9%. Additionally, its Agency Banking business, FirstMonie, expanded its female agent network to over 55,000.
Inclusion remains a key focus, with FirstBank enhancing accessibility for physically challenged customers in 234 locations, making 25 branches fully accessible and improving access at 209 others. It also expanded the SPARK initiative to institutions like the Bethesda School of the Blind and the Down Syndrome Foundation in Lagos.
FirstBank operates an Environmental, Social, and Governance Management System (ESGMS) to drive responsible lending and minimize ESG risks. In 2023, this system was enhanced to ensure real-time transparency in corporate credit screenings. That year, 2,239 credit transactions worth N4.236 trillion were assessed for ESG risks.
To strengthen ESG compliance, FirstBank collaborates with development partners such as British International Investment, the African Development Bank, the International Finance Corporation (IFC), and Proparco, a French development finance institution. Its partnership with Proparco is crucial for integrating climate initiatives into business strategy. This project enhances its understanding of financed emissions and positions it for climate financing and investment opportunities.
This initiative will help FirstBank reduce greenhouse gas (GHG) emissions, mitigate exposure to physical and transition risks, and strengthen climate adaptation efforts. It also reinforces its market competitiveness as an ESG leader committed to a low-carbon economy.
As part of its commitment to decarbonisation, FirstHoldCo’ s FirstBank actively engages in reforestation and afforestation through partnerships focused on carbon dioxide (CO2) removal. In 2023, it pledged to plant 50,000 trees by 2025 in collaboration with the Nigerian Conservation Foundation (NCF). That year, it planted 1,000 trees at the Lekki Conservation Centre, Lagos; Model Secondary School, Maitama, Abuja; and Federal Government Girls College, Calabar. By the following year, it had planted an additional 30,000 trees, bringing the total to 31,000.
FirstBank also drives thought leadership in climate finance, promoting knowledge on carbon mitigation and climate adaptation. A notable effort was a webinar themed ‘Harnessing Climate Finance Opportunities in Nigeria,’ held in partnership with the Sustainability Practitioners Institute of Nigeria (SPIN). The event featured prominent ESG and sustainability experts such as Professor Kenneth Amaeshi, Dr. Muntaqa Umaru-Sadiq, and Carina Dunker, underscoring FirstBank’s commitment to advancing climate finance discussions.
With so much achieved and ongoing ESG/sustainability initiatives, what is the greatest impact of ESG at FirstHoldCo?
For the group, it is the net positive effect on the communities where its subsidiaries operate. For individuals, it is the tangible benefits from its financial solutions and CSR initiatives. For businesses, it is the sustainable practices FirstHoldCo champions, setting a standard for responsible corporate leadership.
This article is contributed By A. Ezekiel
Business
Ahead Regulatory Deadline, Fidelity Bank Set to Meet Recaptalization Target, Onyeali-Ikpe Expresses Gratitude
Fidelity Bank Plc is making impressive strides on its path to fulfilling the recapitalization targets set by the Central Bank of Nigeria (CBN).
With a successful first phase of its capital-raising initiative that recorded over 238% oversubscription and share price growth of over 100% evidencing a huge surge in investor confidence for the bank.
Following the successful completion of phase 1 of its capital raise, the bank is exceptionally well-positioned to not only meet the regulatory threshold but also fuel its growth trajectory.
With the recent conclusion of its equity capital raise through a Public Offer and Rights Issue, collectively known as the Combined Offer.
The response has been nothing short of extraordinary, with the Public Offer oversubscribed by an astounding 237.92%.
This translates to 107,588 valid applications for a total of 23,768,724,000 ordinary shares, amounting to N231.7 billion.
The Rights Issue also shone brightly, achieving a remarkable 137.73% subscription rate with 6,903 valid applications for 4,407,252,795 ordinary shares, totaling N40.7 billion.
Dr. Nneka Onyeali-Ikpe, the Managing Director and CEO of Fidelity Bank, expressed heartfelt gratitude for the overwhelming support from investors, stating, “The positive results recorded in our Combined Offer are a testament to the strength of the Fidelity Bank franchise in the capital market.”
Such a robust response not only underscores investor confidence but also reaffirms the bank’s unwavering commitment to delivering innovative financial solutions and sustainable returns to its stakeholders.
Following this remarkable success, Fidelity Bank has secured shareholder approval to launch the second phase of its capital-raising initiatives.
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This includes a significant increase in the bank’s issued share capital from N26.7 billion to N36.7 billion. Shareholders endorsed this expansion during an Extraordinary General Meeting on February 6, 2025, approving the creation of an additional 20 billion ordinary shares of N0.50 each.
This strategic capital boost positions Fidelity Bank to meet the CBN’s new minimum regulatory capital requirement of N500 billion for banks with international authorization by March 31, 2026. This ambitious goal aligns seamlessly with the bank’s vision for sustainable growth and exceptional service delivery, setting the stage for a dynamic future.
Fidelity Bank’s stock performance has further solidified its status as a top contender in the financial sector. From an initial offer price of N9.75 per share during the Public Offer, shares soared to a high of N21.15 on February 7, 2025, representing an impressive growth rate of over 116%.
This positions Fidelity Bank as one of the best-performing financial institutions in the market, with analysts from Apel Asset Limited noting an impressive 80% return on investment for shareholders who have held shares since 2023.
Market analysts project a considerable upside potential of 28.88%, establishing a fair value of Fidelity Bank at N23.15 against a reference price of N19.50. Such promising indicators not only enhance investor confidence but also position Fidelity Bank as a compelling investment opportunity within the Nigerian banking landscape.
The funds raised from the initial phases of the capital-raising exercises are earmarked for several key initiatives. Fidelity Bank plans to utilize these resources for local and international business expansion, enhancing technology infrastructure, and improving customer service initiatives. This proactive approach showcases the bank’s commitment to innovation and operational excellence.
As the bank gears up for the next phase of its capital-raising initiative, the primary focus remains on achieving its recapitalization targets while consistently delivering value to stakeholders. The bank’s leadership is confident that, with sustained investor support and a robust financial strategy, it will adeptly navigate the evolving landscape of the Nigerian banking sector.
Fidelity Bank’s recent achievements in capital raising signal a pivotal moment in its journey toward strengthening its financial foundation. With robust investor backing, strategic capital allocation, and a clear vision for growth, Fidelity Bank is not just on track to meet its recapitalization target—it is poised to exceed it.
The road ahead promises to be one of sustained growth and innovation, reinforcing Fidelity Bank’s position as a leader in the Nigerian financial sector. As the bank looks toward the future, it remains steadfast in its commitment to fostering strong relationships with investors and delivering on its promise of financial excellence and exceptional customer satisfaction.
Fidelity Bank’s proactive measures and impressive market performance pave the way for a brighter, more prosperous future—one where it continues to lead with integrity and vision in the ever-evolving financial landscape.
Leading financial services institutions, Guaranty Trust Holding Company (GTCO) Plc, has launched an initiative to improve quality of life for households and empower women in underserved communities.
This scheme known as Waste for Gas is under its corporate social responsibility (CSR) and stakeholder engagement to reaffirm its unwavering commitment to improving outcomes for people and communities.
The initiative also introduces a structured Waste for Gas exchange programme that promotes responsible waste management, fostering a culture of sustainability.
The company intends to distribute 3,000 3kg gas cylinders with burners to low-income households in Obafemi Owode Local Government, Mowe, Ogun State.
By providing households with gas-powered cooking, the initiative simplifies daily routines, freeing up time for essential activities that support financial resilience.
The project will unfold in two key phases, ensuring that it reaches those most in need.
In the first phase, teams from GTCO, in collaboration with local government representatives, conducted door-to-door visits across 12 wards in Obafemi Owode Local Government from Monday to Friday, February 18 – 21, 2025.
These visits helped identify beneficiaries who currently rely on firewood and charcoal for cooking. Participating households collected and returned plastic waste in exchange for gas cylinders and burners.
In the second phase, which held on Saturday and Sunday, February 22 and 23, 2025, efforts shifted to monitoring and increasing adoption of the new cooking method among the beneficiaries.
The chief executive of GTCO, Mr Segun Agbaje, said, “At GTCO, we are committed to driving progress, not just through innovative financial solutions but by creating real impact in the communities where we operate.
“Waste for Gas is about making life easier for families, giving them more time for what truly matters—whether it’s education, meaningful work, or personal development.
“Beyond this initiative, our goal is to continually evolve sustainable platforms that empower people, strengthen communities, and contribute to socioeconomic progress.”
As GTCO continues to expand its CSR footprint, the Waste for Gas project serves as a blueprint for future interventions that drive meaningful, long-lasting impact in underserved communities.
