Business
Refund N14.3bn, Senate Orders Minister, NEPZA MD
The Senate has directed the Minister of Industry, Trade and Investment, Okechukwu Enelemah; and the acting Managing Director of Nigeria Export Processing Zones Authority, Terhemba Nongo, to return N14.3bn to the purse of the Federal Government.
It claimed that the money was diverted from the 2017 budget of NEPZA.
The directive was contained in a letter written by the Chairman of Senate Committee on Trade and Investment, Mohammed Sabo.
Sabo, a member of the ruling All Progressives Congress representing Jigawa South-West, in the letter warned the minister and the NEPZA boss to either refund the money immediately or be prepared to face dire consequences.
The senator, while addressing journalists on Monday in Abuja, alleged that the money was transferred from NEPZA’s account into the account of a private company, the Nigerian Special Economic Zone Company.
He said the money was hurriedly transferred between April 8 and 10, despite an earlier warning not to do so.
Sabo claimed that the money was first lodged in NEPZA’s account domiciled with the Central Bank of Nigeria from 2017 budget allocations.
He said the money was thereafter moved into the private firm’s account.
The senator said, “To prevent this fraud, my committee wrote a letter to the CBN Governor, Godwin Emefiele, on April 8, asking him not to release the money.
“But we have confirmed that the money has been released and transfered by NEPZA, in collaboration with the minister, into a private company’s account.
“This is unacceptable to us. Hence, we have directed that money be returned.”
Copies of the Senate committee’s letter, addressed to the minister, were made available to journalists.
The letter dated April 25 was tilted “Re: Transfer of N14.3bn from NEPZA Account to Nigeria Special Economic Zone Company.”
It read, “Pursuant to Section 80(2)(3) and (4) of the Constitution of the Federal Republic of Nigeria 1999 as amended and Financial Regulation, sections 313 and 314 and Senate Standing Order 98, 14(a-s) of 2015 as amended, we hereby write to you on the above matter.
“That you should return the N14.3bn that was transferred from NEPZA’s account to the Nigeria Special Economic Zone Company’s account.
“That the transferred money must be returned to the treasury within one week from the date of receipt of this letter.
“The available information shows that the said money is in the account of the Nigerian Special Economic Zone Company unappropriated for.
“That failure to comply with this directive will be visited with appropriate legislative action against your ministry as well as the company.”
The Punch
Leading financial institution, Fidelity Bank Plc has reinforced its commitment to community development and youth empowerment with the donation of educational and hygiene materials to pupils of Wesley Nursery and Primary School in the Makoko Waterfront Community, Lagos, under its Fidelity Helping Hands Programme (FHHP).
The FHHP outreach was led by the Bank’s Risk Management Directorate as part of a “Back to School” intervention aimed at improving learning conditions and promoting personal hygiene among children in one of Nigeria’s most underserved waterfront communities. Through the FHHP, staff receive matching financial support from the bank’s management to execute projects identified in response to their communities’ crucial needs.
A total of 124 primary school pupils benefitted from the initiative. Items donated included school bags, exercise books, writing materials, towels, soap, toothpaste and toothbrushes, designed to support both academic learning and healthy living.
Speaking at the outreach, Divisional Head, Remedial Assets, Fidelity Bank Plc, Dr. Damian Orizu, who represented the Executive Director and Chief Risk Officer, Fidelity Bank, Mr. Kevin Ugwuoke, said the initiative underscores the bank’s belief that its long-term success is closely linked to the wellbeing of the communities in which it operates.
“At Fidelity Bank, we strongly believe that our growth and success are closely tied to the wellbeing of the communities where we operate,” Dr. Orizu said. “This outreach is our way of investing in the future of Makoko’s children by supporting their education and promoting good hygiene, which are critical foundations for long-term development.”
Orizu further added, “The FHHP reflects the passion and commitment of our employees to make a tangible difference. I commend the Risk Management Directorate for championing this intervention and demonstrating that corporate responsibility starts from within.”
The Baale, Adogbo (1) Community, Makoko, Chief Victor Panke, thanked Fidelity Bank for its consistent support, noting the severe financial and transportation challenges faced by children in the area. “This support will go a long way in easing the burden on our children and their families,” Chief Panke said. “Many pupils struggle daily with transportation across the lagoon just to attend school. We are grateful to Fidelity Bank and appeal for continued assistance, especially in the area of boats to help our children access education more safely and easily.”
The Makoko outreach is the Bank’s third intervention in the community within the last two months. Through the Fidelity Helping Hands Programme, Fidelity Bank continues to demonstrate its commitment to education, hygiene and sustainable community development, with a special focus on vulnerable communities such as Makoko.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 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 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Ecobank Nigeria, in partnership with Soto Gallery, has announced plans to host the third edition of the +234 Art Fair, scheduled to take place from 5–8 March 2026 at the Ecobank Pan‑African Centre, Victoria Island, Lagos.
The 2026 edition, themed “Inclusivity,” underscores Ecobank and Soto Gallery’s shared commitment to creative entrepreneurship, equitable access, and the deliberate expansion of opportunity within Nigeria’s contemporary art ecosystem.
The +234 Art Fair has quickly established itself as one of Lagos’ most important contemporary art platforms, with a distinct focus on emerging and often ungalleried Nigerian artists. In just a few years, the fair has become a critical gateway—connecting local talent to collectors, patrons, cultural institutions, and global audiences, while strengthening Nigeria’s creative economy.
Speaking on the 2026 edition, Tola Akerele, Founder of Soto Gallery and Curator of the +234 Art Fair, said the theme “Inclusivity” reflects a clear intent to widen representation and reposition visibility within the art space.
“Inclusivity is about opening doors wider and changing who gets seen, supported, and celebrated,” she said. “We are already receiving exceptional works from artists who might otherwise not have access to platforms like this. The application remains open, and I encourage Nigerian artists to seize this opportunity to be recognised among the continent’s finest.”
Also commenting, Omoboye Odu, Head, SME Partnerships and Collaborations at Ecobank Nigeria, described the 2026 fair as a purposeful intervention aimed at reshaping how Nigerian creativity is discovered, supported, and sustained.
“For the third edition of the +234 Art Fair, we celebrate Inclusivity as both a principle and a practice,” Odu said. “Art belongs to everyone. This fair intentionally broadens the frame—moving beyond traditional centres of access to spotlight talent from the margins, from new geographies, and from voices that deserve to be heard.”
She added:
“If you are an artist working across boundaries, challenging perspectives, or creating outside established systems, this is your moment. +234 Art Fair 2026 is about building a more equitable creative future—together.”
The event is expected to attract a diverse audience, including art lovers from across Nigeria, residents of the African diaspora, senior government officials, policymakers, members of the diplomatic community, collectors, and global art enthusiasts.
Fidelity Bank Plc, a leading financial institution, has partnered with Greenfingers Wildlife Initiative to plant trees at Elegushi Beach, Lekki, in Lagos.
Speaking during the event, Dr Meksley Nwagboh, the Divisional Head, Brand and Communications of Fidelity Bank Plc, highlighted the bank’s resolve to consistently champion initiatives that preserve the environment and reduce the impact of climate change.
“Environmental preservation is a key Corporate Social Responsibility (CSR) pillar for us at Fidelity Bank. We believe that protecting the earth is a shared responsibility.
“That is why this initiative is not a one-time activity, but part of our ongoing efforts to promote sustainable best practices.
“We are committed to ensuring that our environment, including marine habitats, remains protected from pollution and degradation,” Nwagboh said.
In addition to planting trees, the Fidelity Bank team also conducted a beach clean-up exercise to remove waste materials from the shoreline and surrounding marine areas.
Nwagboh noted that the bank continues to support environmental conservation through various initiatives nationwide and remains a proud partner of the Nigerian Conservation Foundation (NCF).
“Tree planting is an integral part of our climate action and resilience plan, and our goal is to consistently expand our environment-friendly operations.
“We are delighted for this partnership with Greenfingers Wildlife Initiative. It is one we intend to nurture, as we believe there’s more to be done to protect our environment,” Nwagboh added.
In his speech, Mr Chinedu Mogbo, the Founder of Greenfingers Wildlife Initiative, commended Fidelity Bank for its proactive commitment to environmental sustainability.
He explained that the partnership aligns with the NGO’s mission to foster safer, cleaner environments for both humans and wildlife.
“Our partnership with Fidelity Bank is driven by a shared mission to create a safer, greener environment for both humans and wildlife. Beyond enhancing environmental safety, planting trees contributes to beautifying our surroundings and restoring balance to nature,” Mogbo stated.
The exercise marks another significant step in Fidelity Bank’s environmental CSR efforts aimed at promoting sustainable living across communities, combating climate change, protecting biodiversity, and conserving aquatic ecosystems.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels. The bank has 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
