Business
Nestlé Nigeria Deepens Grassroots Impact with Women Empowerment Initiative in Agbara
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Nestlé Nigeria is proud to announce the expansion of its flagship initiative, Nestlé Empowering Rural Women in Nigeria, to Agbara, Ogun State. Aimed at strengthening small businesses and enhancing livelihoods within rural communities, this program has welcomed 49 new female retailers.
Now in its fifth year, the Nestlé Empowering Rural Women in Nigeria project has empowered over 382 women across the country, enabling them to expand their businesses by as much as threefold.
Through tailored business training, product grants, and mentorship, the initiative supports women in building more profitable retail ventures, reinforcing Nestlé’s commitment to inclusive growth at the community level. With the addition of the 49 new participants from Agbara, the project has now reached a total of 431 women.
At the opening ceremony in Agbara, Victoria Uwadoka, Corporate Communications, Public Affairs, and Sustainability Lead at Nestlé Nigeria, stated, “Nestlé Empowering Rural Women in Nigeria is about creating genuine opportunities for women.
Supporting rural women to scale their retail operations by up to 300% within just three months is not only beneficial for business but also essential for fostering a more inclusive economy, stronger families, and resilient communities.”
She further emphasized, “Opening new doors for hardworking women determined to build better futures for themselves and their families in Agbara holds significant meaning for us, as this community has been home to Nestlé Nigeria for over four decades. We have witnessed the transformative impact of structured training, mentorship, and business grants on the 382 women who have already benefited from this initiative, and we are confident that we will see more success stories emerge from Agbara. Through this initiative, we are not only supporting individual entrepreneurs; we are investing in ripple effects that will benefit the entire community.”
Boladale Odunlami, Commercial Manager at Nestlé Nigeria, elaborated on the initiative’s purpose: “At Nestlé, we are intentional about creating growth opportunities across every segment of our value chain. The Empowering Rural Women in Nigeria initiative was launched in 2021 to support women retailers in underserved communities, recognizing their critical role in driving local economies. Since its inception, over 380 women have benefited from the program, with more than 85% reporting sustained business expansion. With product grants valued at up to 300% of their existing business size, participants have improved their turnover, increased revenue, and strengthened their community presence. This edition is particularly special, as the participants were nominated by their own communities and will each receive product grants worth N200,000. We are excited to welcome the Agbara cohort and are confident that, with the support we provide, they will continue this legacy of progress and success.”
On behalf of the Alagbara of Agbara, His Royal Highness Oba Lukman Jayeola Agunbiade JP, Olori Adeola Agunbiade commended Nestlé’s enduring relationship with the community and encouraged the women to seize this opportunity. “Our community enjoys a peaceful and respectful relationship with Nestlé, which enables us to work together effectively on community-led initiatives like the women empowerment program. We are delighted to see the women we have carefully selected from our community benefit from this program, whose impact we have heard about. I urge every woman here today to take full advantage of this training to build something lasting for herself and her family. I assure Nestlé Nigeria of our commitment to co-owning this project, which will further strengthen the long-standing bond with the people of Agbara.”
The women expressed their gratitude and optimism regarding the opportunity. Mrs. Eniola Fausat, one of the participants, shared her excitement: “This opportunity has opened my eyes to what is possible in my business. With the training and support, I am now more confident that I can improve my shop and better support my family. I thank Nestlé and the Alagbara for believing in us.”
Nestlé Empowering Rural Women in Nigeria exemplifies Nestlé’s commitment to creating shared value in society. Since its inception, the initiative has expanded to nine locations across the country.
Beneficiaries receive training in essential areas such as entrepreneurship, bookkeeping, merchandising, and customer service skills which are vital for running successful retail operations. Each participant is also assigned a personal mentor for three months and receives product grants to help them scale sustainably.
With every new phase, Nestlé continues to support financial independence among rural women, enabling them to create better futures for themselves and their communities.
Business
UBA Secures Court Order Against Vitol, Four Others in $242m Petroleum Products Diversion Claim
A Lagos State High Court, last Thursday, granted interim preservative orders of Mareva Injunction against Vitol SA – a Switzerland based Energy Trading company, and four other shipping companies in favour of United Bank for Africa Plc.
The bank alleged Vitol of wrongful release of cargoes of petroleum products which were consigned to the order of United Bank for Africa Plc in the Bills of Lading.
Addressing the Court, Bode Olanipekun, SAN, lead counsel for United Bank for Africa, urged the Court to grant the interim preservative orders against Vitol and the other shippers.
In a ruling on the application, the presiding judge, Honourable Justice K. A. Jose (Mrs.) granted three prayers in UBA’s application, including requests to restrain the dissipation of assets and dealings with funds up to the disputed amount by Vitol S.A.
“Prayers 1–3 are granted as prayed against the 2nd Respondent only,” the judge ruled.
The application was brought pursuant to Order 43 Rule 1 of the High Court of Lagos State (Civil Procedure) Rules 2019 and the Lagos State High Court Practice Direction No. 2 of 2019.
UBA is seeking to contend in the substantive proceedings that Vitol SA and the owners of the vessels, are liable for alleged conversion, misrepresentation and negligence arising from the non-delivery of the petroleum products.
UBA also cited 34 financial institutions and public agencies, including commercial banks, merchant banks, microfinance banks, the Nigerian Ports Authority and the Nigeria Customs Service, in connection with the application.
In an affidavit supporting the application, UBA’s Group Head of Recoveries and Remedial Management, Anthony Chilaka, stated that the bank issued a letter of credit for the benefit of Vitol SA to facilitate a petroleum products transactions.
UBA alleged that the cargo was transported to Nigeria and that the vessels’ masters issued several bills of lading.
The bank further alleged that Vitol subsequently endorsed the bills of lading “to the order of” UBA and handed over the original copies to it.
UBA maintained that the endorsement entitled it to take possession of the cargo upon completion of the voyage.
However, Chilaka stated that the bank had not received the gasoil despite the completion of the voyage.
“The applicant has not been given possession of the gasoil despite completion of the voyage,” the affidavit stated.
UBA alleged that the cargo was instead, applied to the use of another party, contending that the respondents’ failure to deliver it amounted to conversion and negligence.
The bank argued that the respondents had obligations arising from the transaction and the endorsement of the shipping documents, which it claimed were not fulfilled.
The bank alleged that the cargoes associated with those transactions were also diverted to the use of other parties after their voyages, rather than delivered to UBA.
Ecobank Nigeria has commemorated the 14th edition of Ecobank Day, its flagship Group-wide Corporate Social Responsibility (CSR) initiative, across four regions of the country, reaffirming its commitment to empowering communities through education and digital inclusion.
The selected schools include: Hope Fountain Foundation for the Deaf, Agege, Lagos; Ibadan School for the Deaf, Ibadan; Special Secondary School for the Deaf, Odakpu, Onitsha, and Kaduna State Special Education School, Kaduna.
This year’s Ecobank Day was celebrated under the theme, “Digital Education,” with a focus on equipping persons with disabilities and young people with essential digital skills that can enhance their educational, personal, and career development in today’s technology-driven world.
The initiative underscores Ecobank’s commitment to extending its impact beyond banking by helping to equip Africa’s youth with the digital and artificial intelligence (AI) skills required to succeed in the future economy.
As part of the programme, Ecobank employees visited selected schools across the four regions, where they conducted digital literacy sessions and donated learning materials and educational resources to support students’ development and prepare them to thrive in an increasingly digital world.
Speaking during the commemoration, the Managing Director/Regional Executive, Ecobank Nigeria, Bolaji Lawal said: “It is a pleasure to join you today as we commemorate the 14th edition of Ecobank Day, our Group-wide Corporate Social Responsibility initiative dedicated to creating meaningful impact across the communities we serve. “Ecobank Day reflects our commitment to being more than a bank. It demonstrates our dedication to empowering people and contributing to sustainable development across Africa.”
Bolaji noted that digital education has become increasingly important in bridging knowledge gaps and creating opportunities for young people, particularly those living with disabilities, enabling them to participate fully in today’s digital economy.
School proprietors and administrators who participated in the programme commended Ecobank for the initiative, describing it as a timely intervention that will help broaden students’ access to digital knowledge and opportunities.
They expressed appreciation to the Bank for investing in the future of young people and supporting inclusive education within their communities.
For 14 years, Ecobank Day has served as an annual platform for Ecobank employees across Africa to give back to society through impactful volunteer activities that address critical social challenges.
The initiative continues to demonstrate the Bank’s dedication to fostering sustainable development and creating lasting positive change across the communities where it operates.
Fidelity Bank Plc has won two honours at the 2026 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
The bank’s Managing Director and Chief Executive Officer, Dr Nneka Onyeali-Ikpe, received the Award for Excellence in Banking Leadership, while Fidelity Bank was named Best Bank in Oil and Gas Financing.
The awards were presented at the 14th BAFI Awards held recently at the Civic Centre, Victoria Island, Lagos.
According to BusinessDay Media Limited, the leadership award recognises banking executives who have delivered institutional growth, strengthened shareholder value, promoted innovation and inclusion, and contributed to the development of Nigeria’s financial services sector.
Onyeali-Ikpe thanked the organisers and dedicated the award to Fidelity Bank’s customers, board, management and employees.
“I am deeply honoured to receive the Award for Excellence in Banking Leadership. I sincerely thank BusinessDay Media Limited for this recognition and dedicate it to our valued customers, whose trust and support have strengthened and inspired me throughout my career.
“The African philosophy of Ubuntu teaches us, ‘I am because we are.’ In that spirit, this honour also belongs to the board, management and staff of Fidelity Bank Plc, whose dedication and professionalism continue to drive our vision of a stronger, more innovative and customer-focused financial institution,” she said.
Onyeali-Ikpe has more than three decades of banking experience spanning retail, corporate and commercial banking, treasury and business development. Since becoming the Chief Executive Officer, she has led Fidelity Bank through sustained growth and an expansion of its international operations, including the acquisition of the former Union Bank UK, now FidBank UK Limited.
The Best Bank in Oil and Gas Financing award recognised Fidelity Bank’s support for projects across Nigeria’s energy value chain.
The bank financed the development of an onshore crude oil export terminal at the Otakikpo Marginal Field in Rivers State. It also supported the Pinnacle Oil and Gas Terminal in Lekki and part-financed a 23,000-cubic-metre liquefied petroleum gas carrier for Temile Development Company Limited.
Fidelity Bank also participated in the $3bn SNEPCo Contractor Finance Facility, which provides naira and dollar financing to indigenous contractors working on SNEPCo projects.
The projects are expected to strengthen local participation, petroleum product distribution, gas availability and critical energy infrastructure.
The two awards underscore Fidelity Bank’s growing profile in the financial services industry and its role in financing sectors critical to Nigeria’s economic development.
