Banking
Stanbic IBTC Champions Gender Equality in Nigeria
As part of its commitment to gender equality, Stanbic IBTC, made a bold statement on International Women’s Day marked on March 8 by changing the colour of its logos which are predominantly blue, to magenta on most of its digital platforms. Magenta is the colour of the UN Women HeForShe brand.
This symbolism, according to Mr Yinka Sanni, Chief Executive of Stanbic IBTC Holdings PLC, “reconfirms our organization’s commitment to the ideals of the United Nations Women HeForShe initiative which encourages equality in the way and manner people are treated and the opportunities with which they are availed, regardless of gender or race.”
Stanbic IBTC Holdings, he adds, is championing this initiative alongside its parent group, Standard Bank which is the only Africa-headquartered corporate to become a thematic champion of this campaign.
“Achieving gender equity is not only a fundamental human right but a business imperative,” says Standard Bank Group Chief Executive Sim Tshabalala. “Women embody half the world’s talent, skill and energy and more than half its purchasing power.”
He adds that “business leaders, therefore, ought to be committed to achieving gender equity in their organizations and to helping to drive this cause in the societies in which they operate.”
Stanbic IBTC Holdings has always been distinguished by its deliberate and painstaking commitment to gender equality. In its 30 years of existence, it is one of a few publicly quoted Nigerian corporations to have had a female Chief Executive. In addition, women occupy many strategic roles in the Stanbic IBTC Group including functioning as Chief Executives of its subsidiary companies. According to Mr Sanni, “At Stanbic IBTC, we have long recognized that we have a duty to create an enabling environment that thrives on merit and ability, rather than gender, for our people to excel. In the years ahead, we pledge to remain steadfast in this commitment.”
The partnership between Stanbic IBTC’s holding company, Standard Bank Group and the HeForShe initiative was announced on September 26, 2018 at a UN Women’s event that ran parallel with the UN General Assembly in New York.
Standard Bank has since set itself the goals of increasing the representation of women in executive positions to 40 percent by 2021 in its South African operations and 2023 in the entire group.
Standard Bank also aims to enhance the representation of women on its board from 22 percent in 2018 to 33 percent by 2021 while doubling the number of female Chief Executives in its Rest of Africa operations from 10 percent in 2018 to 20 percent by 2021.
Stanbic IBTC, affirms Mr Sanni, “remains very committed to nurturing a great workplace that is founded on merit, a diverse workforce that thrives on equality of opportunity for all, regardless of gender, religion, tribe or race.” Doing so, he says, “enables us live up to our mission to provide end-to-end financial services solutions to our customers and drive the economic and development growth aspirations of the country.”
The organisation, he said supports the development of its women with several initiatives and programmes such as the Stanbic IBTC Blue Women Network, a platform established to, among other things, provide the women in Stanbic IBTC the opportunity to gain new insights that will enhance their professional skills as well as support their all-round growth through information sharing, best practice and mentorship to help develop their leadership skills and advance their career prospects.
By Modupe Gbadeyanka
The six edition of the Hackaholics of Wema Bank Plc has produced 20 top finalists shared equally between two streams, Ideathon and Hackathon.
The Hackathon finalists are Rapid DEV, Secure IT, Neurafeed, Trust Lock Babcock, Pulse Track, IlluminiTrust, Trust Lock FUTA, Fix Fraud AI, KASH Flow and VOC AI.
The Ideathon finalists include PLOY, Fertitude, VarsityScape, Mama ALERT, StockMed, Chao, All Arbitrate, FarmSlate, Sane AI and Cycle X.
They emerged after a two-day pre-pitch held on December 16 and 17, 2025, for the grand finale slated for Friday, December 19, 2025.
They grand finale of Hackaholics 6.0 will convene the top players in Africa’s tech and innovation ecosystem, creating an avenue for these finalists to not only put their creativity to the ultimate test but also give their solutions visibility to potential investors for additional funding opportunities beyond the prizes to be won.
The prizes to be won for the Ideathon include N25 million for the winner, N20 million for the first runner-up, N15 million for the second runner-up and N5 million each for two women-led teams.
In the Hackathon category, the first to fourth-place winners will receive N20 million, N15 million, N10 million and N5 million, respectively.
The pre-pitch saw the top 43 contenders battle in a game of innovation and problem solving, presenting compelling pitches for a chance to make it to top 10 in their respective streams.
After a rigorous stretch of pitches and presentations, the top 20 emerged, securing their spot in the grand finale of Hackaholics 6.0.
“Hackaholics started off as a hackathon and morphed into an ideation. For Hackaholics 6.0, the sixth edition, we decided to give both the builders of new solutions and the refiners of existing ones, an opportunity to make meaningful impact.
“For us at Wema Bank, we understand that innovation isn’t just building from scratch. Sometimes, it’s looking at what exists and developing new ways to optimise that and create more efficiency. This is the idea behind our two-stream Ideathon-Hackathon structure.
“Every year, Hackaholics shows us just how eager and motivated Nigerian youth are when it comes to exploring creativity and innovation, and we are honoured to be the institution that provides them with the platform and resources to put this drive to good use.
“We toured seven cities, indulged 1,460 participants and discovered hundreds of remarkable ideas; some of which needed some refining and some of which deserved to move to the next stage.
“For those who needed to go back to the drawing board, we provided useful guidance and for the top contenders, we were able to shortlist to the top 43, who proceeded to the pre-pitch. To every participant, Wema Bank is proud of you. This is just the beginning,” the chief executive of Wema Bank, Mr Moruf Oseni, said.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) says it will enforce penalties against designated banks that delay the remittance of customs revenue, in a move aimed at strengthening transparency and safeguarding government earnings.
This was disclosed in a statement on the NCS official account on X, formerly known as Twitter and signed by its spokesman, Mr Abdullahi Maiwada, who said the delays undermine the efficiency, transparency, and integrity of government revenue administration.
“The Nigeria Customs Service has noted instances of delayed remittance of customs revenue by some designated banks following reconciliation of collections processed through the B’odogwu platform,” the statement read.
“Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration.
“In line with the provisions of the Service Level Agreement executed between the Nigeria Customs Service and designated banks, the Service hereby notifies stakeholders of the commencement of enforcement actions against banks found to be in default of agreed remittance timelines.”
Mr Maiwada disclosed that any bank that fails to remit collected Customs revenue within the prescribed timeline will be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the period of the delay.
He added that affected banks would be formally notified of the delayed amounts, the applicable penalty, and the deadline for settlement.
“Accordingly, any designated bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay.
“Affected banks will receive formal notifications indicating the delayed amount, applicable penalty, and the timeline for settlement,” the statement read.
By Aduragbemi Omiyale
The deputy managing director of First Bank of Nigeria (FBN) Limited, Mr Ini Ebong, has offloaded some shares of FBN Holdings Plc, the parent firm of the banking institution.
A regulatory notice from the Nigerian Exchange (NGX) Limited confirmed the development on Thursday.
It was disclosed that the transaction occurred on Friday, December 12, 2025, on the floor of the stock exchange.
The sale involved about 11.8 million shares, precisely 11,783,333 units traded at N31.14 per share, amounting to about N366.9 million.
Mr Ebong, who studied Architecture from University of Ife and obtained Bachelor and Master of Science degrees, became the DMD of First Bank in June 2024. Prior to this appointment, he was Executive Director, Treasury and International Banking since January 2022.
He was previously the Group Executive, Treasury and International Banking, a position he held since 2016 after serving as the bank’s Treasurer from 2011 to 2016.
Before joining First Bank, he was the Head of African Fixed Income and Local Markets Trading, Renaissance Securities Nigeria Limited, the Nigerian registered subsidiary of Renaissance Capital. He also worked with Citigroup for 14 years as Country Treasurer and Sales and Trading Business Head.
He has a passion for market development and has worked actively to drive change and internationalisation of the Nigerian financial markets: foreign exchange, fixed income and securities.
He has worked closely with regulatory bodies such as the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) in assisting with the development of fresh monetary and foreign exchange policies, to broaden and deepen markets and open them up to international practices.
At various times he has facilitated and delivered courses and seminars on a wide variety of subjects covering Money Markets, Securities and Foreign exchange trading and market risk management subjects to regulators, corporate customers, banks and market participants.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn