By Adedapo Adesanya

One of Nigeria’s youngest banks, Premium Trust Bank, said it has met the N200 billion minimum capital requirement for commercial banks with national reach in the country.

The bank, which was founded in 2022, achieved the feat ahead of the March 2026 deadline set by the the Central Bank of Nigeria (CBN) under Governor Yemi Cardoso.

The threshold was met by Premium Trust following a successful capital raise of rights issue and private placement offerings.

Commenting on the achievement, the chief executive of Premium Trust Bank, Mr Emmanuel Efe Emefienim, described the development as a watershed for the bank.

“Exceeding the N200 billion capital requirement is a defining moment in the bank’s journey,” he said in a statement.

“This achievement coming in just three years of the bank’s existence is a reflection of our superior financial performance since inception, unwavering commitment to operational excellence, and the trust reposed in us by our shareholders, customers, and regulators.

“As Nigeria’s fastest-growing bank, we are uniquely positioned to not only lead the sector but to continue delivering outstanding value and growth for our stakeholders,” he added.

Mr Emefienim said with this feat, the lender is better positioned to expand its operations, deepen its market share, and continue to deliver cutting-edge banking solutions that cater to the diverse needs of individuals, businesses, and corporate clients across Nigeria.

The bank noted that it is positioned to further broaden its footprint, deepen financing in critical sectors such as infrastructure and agriculture, and remain at the forefront of innovation in Nigeria’s financial sector.

The bank said its growth is a testament to its clear strategic vision, strong leadership, and unwavering commitment to advancing Nigeria’s economic development.

Building on its strengthened capital base, Premium Trust will continue to anticipate and meet the evolving needs of its customers while consolidating its position as an emerging leader in the Nigerian Banking Industry.

In just three years of operations, the bank had expanded its business across all the country’s geo-political zones, reflecting its rapid growth and commitment to accessibility.

By setting new benchmarks in service delivery and leveraging technology-driven solutions, the bank hopes to shape the future of banking in the country.

By Modupe Gbadeyanka

Stakeholders in the underwriting sector are currently discussing how the working group of Nigeria can plan for the rainy days, especially when they no longer have the strength to run around to make ends meet.

They are attending the second edition of Stanbic IBTC Insurance Annuitant Forum being held virtually with the theme Making the Most of Life in Retirement.

Retirement is often viewed as a new beginning, an opportunity to enjoy the fruits of one’s lifetime work.

The subsidiary of Stanbic IBTC Holdings Plc organised this programme in line with its mission to support clients through every stage of life.

The virtual format ensures wider access, allowing retirees and those planning for retirement to engage in meaningful, interactive discussions on topics that matter most, ranging from health and wellness, estate planning, and expert insights on securing a fulfilling retirement.

Participants can look forward to discussions on long-term income strategies, the vital role of insurance in maintaining financial stability and how organisations can better support their staff’s retirement journeys. The event will also touch on lifestyle aspects such as wellness, leisure, and personal growth; reinforcing the idea that retirement is a time to thrive.

“Retirement is a significant milestone that should be embraced with purpose, security and fulfilment. Unfortunately, many are unprepared for the realities that come with this phase.

“Our goal with this forum is to provide both retirees and employers with practical guidance and holistic advice, helping them navigate this new chapter confidently,” the chief executive of Stanbic IBTC Insurance, Mr Akinjide Orimolade, stated.

The Stanbic IBTC Insurance Annuitant Forum has become an important platform for the organisation to connect with its retirees, strengthen relationships, and reaffirm its leadership in retirement planning solutions.

By hosting the event virtually, the company is committed to making this resource accessible to retirees nationwide, ensuring that no one is left behind in planning for a rewarding retirement.

By Aduragbemi Omiyale

Seven mortgage banks operating in Nigeria have been blacklisted by the National Pension Commission (PenCom) over non-compliance with housing loan guidelines.

In a circular dated August 11, 2025, signed by the Head of Benefits and Insurance Department, Obiora Ibeziako, the regulator directed the Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) to immediately stop accepting or processing equity contribution applications from the real estate banks.

It was learned that the lenders failed to generate the loans for which pension funds had been approved.

According to the notice, the affected institutions as Jigawa Savings & Loans Limited, FHA Mortgage Bank Limited, Delta Trust Mortgage Bank Limited, AG Mortgage Bank Limited, Infinity Trust Mortgage Bank Plc, First Trust Mortgage Bank Limited, and Mutual Alliance Mortgage Bank Limited.

“Following the cited letter, the commission instructs that Pension Fund Administrators, including Closed Pension Fund Administrators and Pension Fund Custodians, immediately stop accepting or processing equity contribution applications submitted by the following Primary Mortgage Banks,” a part of the disclosure stated.