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RT200 FX Seminar: Fidelity Bank Drives Non-Oil Exports Awareness in North Central

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3 years ago

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Governor Simon Lalong of Plateau state has lauded the RT200 FX Programme by the Central Bank of Nigeria’s (CBN), stating that the nation stands to gain a lot in terms of expanding its foreign exchange earning capacity through previously underutilised sectors.

The governor made this declaration at the recently held CBN RT200FX Policy Sensitization seminar hosted by Fidelity Bank Plc in Jos, Plateau State capital for businesses in the north central zone of the country. Represented by the Commissioner of Special Duties and Intergovernmental Affairs, Hon. Jerry Werr, Gov. Lalong said the State has a long history of contributing to Nigeria’s Foreign Exchange earnings, dating back to pre-colonial times and highlighted the critical role mining played in development of Nigeria before the discovery of oil.

In his address, the Executive Director, North Business, Fidelity Bank Plc, Hassan Imam, who was represented by the Regional Bank Head, North Central, Sadi Zawiya, said over the years, CBN has continued to envision various intervention schemes to boost local production and productivity as well as to increase non-oil exports and improve the FX generating capacity of the economy. He further clarified to the audience the bank’s decision to host the seminar in Plateau State.

“Plateau State has been strategically chosen for this workshop because of its enormous contribution to the growth of the non-oil space in particular and agribusiness in general in Nigeria. Plateau is well endowed with not only solid minerals, but agricultural commodities and human resources that can propel it to become one of the richest states in Nigeria and we look forward to when the state will take the lead in value-added exports in Nigeria”, explained Imam.

Launched on February 10, 2022 by the apex bank as part of measures to reduce the increasing demand for foreign currency by importers, the RT200 FX Programme aims to raise $200billion in foreign exchange earnings in the next three to five years through non-oil exports.

The policy is anchored on the Non-oil Exports Proceeds Repatriation Rebate Scheme which will incentivize exporters in the non-oil sector to repatriate and sell export proceeds in the FX market to generate sustainable FX inflows and guide the Nigerian economy against FX shortages and shocks.

Also speaking at the well attended event, the North Central Regional Co-ordinator of Nigerian Export Promotion council (NEPC), Samson Idowu, said the RT200FX programme requires the right policies, critical export infrastructure, international diplomacy and adequate funding to achieve the desired results within the stipulated period.

The successful hosting of the event in Jos brings to three the number of seminars hosted by Fidelity Bank to drive the RT200 FX Programme across the country, having hosted similar sessions in Kano and Akure on 21 February 2022 and 14 March 2022 respectively.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 6.5 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

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Business

Fidelity Bank Produces 20 Additional Millionaires in GAIM 6.0 Promo

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11 hours ago

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March 19, 2025

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About 20 fresh millionaires have emerged in the Fidelity Bank Plc Get Alert in Millions (GAIM) Season 6 promo.

They winners were picked at the second and third monthly draws of the financial institution held at its corporate headquarters in Lagos recently.

The events were monitored by the representatives of relevant regulatory bodies, including the South-West Zonal Coordinator of the Federal Competition and Consumer Protection Council (FCCPC), Mrs Aboluwade Margaret; and the Principal Legal Officer of the Lagos State Lotteries and Gaming Authority, Oyinkan Kusamotu.

A statement from the lender disclosed that the 20 lucky winners were randomly selected through an electronic draw across Lagos, North, Abuja, South-West, South-South, and South-East zones and would be rewarded with N1 million each.

The Fidelity Bank GAIM campaign was launched in November 2024 and about N19.75 million has been won by 869 customers across different categories.

The GAIM 6 campaign, which will run until August 2025, is set to reward lucky customers with a total of N159 million.

Speaking at the draws, the promo Chairperson and Executive Director for Lagos and South-West, Fidelity Bank, Dr Ken Opara, noted that the GAIM 6 promo was designed to reward customers’ loyalty, encourage a savings culture, and promote financial inclusion across the country.

Dr Opara, represented by the Regional Bank Head for Ikoyi, Chetachi Okechukwu, said, “Fidelity Bank is dedicated to the financial well-being of our customers and this commitment inspired the launch of the GAIM Promo, designed to cultivate a strong culture of savings.

“Through this promo, customers have the chance to win substantial cash prizes up to N10 million by saving and transacting with their Fidelity Bank Savings accounts.

“In addition to the monetary rewards, winners will receive complimentary financial advisory services to secure and grow their wealth for the future.”

Fidelity Bank, ranked among the best banks in Nigeria, is a full-fledged Commercial Deposit Money Bank serving over 8.5 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

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Asian Banker Awards: FirstBank Maintains Dominance in SME Banking Across Nigeria, Africa

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5 days ago

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March 15, 2025

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Through a legacy of excellence and Innovation, First Bank of Nigeria Limited, the country’s oldest and most distinguished financial institution, has once again solidified its reputation as a leader in the banking industry. The Bank was recently crowned the Best SME Bank in Nigeria and the Best SME Bank in Africa at the 2025 Asian Bankers Awards for the second year running. The Asian Banker Global Excellence in Retail Finance Awards are renowned for their rigour, prestige and transparency, celebrating excellence across financial services, technology, risk management and transaction finance.

These prestigious recognitions reaffirm FirstBank’s unwavering commitment to Small and Medium Enterprises (SMEs), a sector that serves as the backbone of Nigeria’s and Africa’s economy. For over a century, First Bank of Nigeria Limited has been instrumental in the nation’s financial evolution, pioneering innovative banking solutions and fostering economic growth.

The awards underscore the efficacy of its strategic focus on empowering SMEs through tailored support programs and an inclusive economic environment where small/medium businesses can thrive and also grow to compete globally. Winning these distinguished awards is no small feat. FirstBank stood out among its competitors across the continent due to several of the Bank’s key initiatives which have effectively transformed the SME banking landscape in all the countries where the bank operates.

Some of the Bank’s Tailored Financial Solutions include customised loans and flexible credit facilities to cater to SMEs at various growth stages. From microloans for startups to large-scale funding for expanding businesses, FirstBank has ensured that small businesses have access to the capital they need to thrive.

The bank’s SMEConnect platform, a digital hub that provides SMEs with access to financial resources, business advisory services, and networking opportunities, has been a game-changer. This initiative has helped thousands of entrepreneurs navigate challenges and scale their operations effectively.

Beyond financial support, FirstBank has invested in entrepreneurship training programs to equip SMEs with knowledge in financial literacy, business management, and technology adoption. Partnerships with organisations like the International Finance Corporation (IFC) and the Nigerian government have further strengthened these initiatives.

Women-Led and Youth Entrepreneurship Support is another tool which he Bank has deployed to its benefit. By recognising the role of women in economic development, the Bank has a dedicated product – FirstGem, which provides financial support to women entrepreneurs. In addition, the Retail Temporary Overdraft (RTOD) product, tailored to SMEs aims to provide financial support for their businesses. These strategic efforts have set FirstBank apart, positioning it as the ‘go-to’ financial partner for SMEs across Africa.

The recognition of FirstBank as the Best SME Bank in Nigeria is not just a win for the Bank but also for the entire Nigerian economy. SMEs account for over 90% of businesses in Nigeria and contribute significantly to employment and GDP. By providing robust financial solutions and business support, FirstBank is fostering job creation, innovation, and sustainable economic growth. With access to better funding, training, and technology, more SMEs can scale their operations beyond local markets and compete on the global stage. This award also highlights Nigeria’s potential as a hub for entrepreneurship and business expansion.

FirstBank’s achievement is expected to set a new benchmark for banking excellence in Africa. Other financial institutions will likely follow suit, improving their SME-focused initiatives, leading to a more vibrant and competitive business environment.

FirstBank will continue to champion SME growth, affirm its legacy as a trusted financial partner whose commitment remains unshaken. This award serves as both recognition of past efforts and a call to push boundaries further in supporting African businesses.

For small business owners, aspiring entrepreneurs, and the Nigerian economy, FirstBank’s success story is a beacon of hope, proving that with the right financial backing, the possibilities are limitless for the average businesses.

For the African continent, First Bank of Nigeria Limited’s win at the Asian Banker Awards for Excellence in Retail Finance Global Award 2025 marks a significant milestone in African banking history. It showcases the Bank’s relentless commitment to empowering SMEs, driving digital transformation, and fostering economic prosperity across the continent. As the Bank continues to innovate and expand its reach, the future for SMEs in Nigeria and Africa looks brighter.

This piece is contributed by Tosin Ajayi

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Unity Bank Hosts IWD Webinar, Reaffirms Commitment to Women Empowerment

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5 days ago

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March 15, 2025

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Unity Bank Plc has reaffirmed its commitment to women’s empowerment with a series of high-impact initiatives designed to inspire action toward gender equality and sustainable development.

The Bank hosted a webinar with the theme: “Unleashing Women’s Potential,” pivoted by the Unity Bank Women Network as it was marking this year’s International Women’s Day,

Being one of the Bank’s thought leadership on self-reliance, opportunity and equity, the webinar featured influential female leaders, including Gbemi Olateru-Olagbegi, a Nigerian entrepreneur and media personality, and Oluwabusayo Adegoke, a certified life coach and Strategy Consultant, who shared perspectives on women’s leadership, financial inclusion, and breaking barriers in male-dominated industries. The event provided an opportunity for professionals, entrepreneurs, and young women to gain valuable insights into personal and professional development.

The Bank also spotlighted women making significant contributions to their communities, particularly those driving change through education, mentorship, and financial empowerment. Among them were Abisoye Ajayi-Akinfolarin, a trailblazer empowering girls through technology; Tejumoluwa Olaobaju, an advocate leading the fight against period poverty in her community; and Chioma Ohakwe, a champion of inclusivity and women’s empowerment through targeted skill acquisition programmes for girls and women.

Speaking on the Bank’s commitment to gender equity, Mrs. Particia Ahunanya, Unity Bank’s Chief Compliance Officer and Chair of Unity Bank Women’s Network, stated: “Our commitment to financial inclusion and gender equity has made Unity Bank remain in the vanguard of championing opportunities for empowering women across all sectors. This is in view of the realization that women are crucial drivers of economic growth and societal transformation. Through initiatives like the ‘Unleashing Women’s Potential’ webinar and our community spotlights, the Bank is focused on promoting more initiatives to drive impact among the female gender”.

Unity Bank’s IWD 2025 initiatives align with its broader vision of supporting women in leadership, business, and entrepreneurship. Through gender-focused initiatives – particularly with products like the Yanga Account – the bank is committed to driving financial inclusion and empowering women to actively participate in economic and financial systems. By providing tailored financial solutions, Unity Bank aims to create equal opportunities for women to thrive, grow, and succeed.

As the global conversation on gender equality continues to gain momentum, Unity Bank calls on stakeholders across industries to accelerate actions toward creating a more inclusive society without limitations.

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