Banking
Stanbic IBTC Reinforces Leadership in Trade Finance at GTR West Africa 2026
A subsidiary of Stanbic IBTC Holdings and a member of Standard Bank Group, Stanbic IBTC Bank, has reaffirmed its commitment to advancing trade and economic growth in West Africa following the successful conclusion of GTR West Africa 2026, where the bank served as lead sponsor.
The two-day conference, which was held on 22 and 23 April 2026 at the Eko Convention Centre, Lagos, brought together policymakers, financial institutions, corporates and fintech players to discuss the evolving landscape of regional and global trade.
The event attracted over 400 delegates from more than 200 organisations, spanning sectors including banking, fintech, agribusiness and logistics; underscoring its position as a critical platform for shaping trade finance dialogue in the region.
The conference opened with a keynote address by Tedd George, Founder & Chief Narrative Officer, Kleos Advisory Ltd, focused on harnessing and improving macroeconomic stability to drive sustainable trade growth across West Africa. Subsequent sessions explored export diversification, supply chain finance and agribusiness-led trade, supported by practical case studies highlighting real-world applications.
Day two centred on digital trade and financial inclusion, with discussions on Africa’s mobile-first economy and contributions from the International Chamber of Commerce (ICC) Digital Standards Initiative, which emphasised the importance of accelerating the digitisation of global trade finance.
Stanbic IBTC Bank’s participation followed closely on the heels of Standard Bank Group’s engagement at the GTR Africa Conference in Cape Town, reinforcing the Group’s pan-African approach to advancing trade and financial integration across key markets.
Commenting on the bank’s role at the conference, Jesuseun Fatoyinbo, Head of Transaction Banking at Stanbic IBTC Bank, said the institution remains focused on delivering innovative solutions that respond to the shifting needs of businesses engaged in trade.
“At Stanbic IBTC Bank, we are steadfast in our commitment to driving economic growth through innovative transaction banking solutions. The trade finance landscape is evolving rapidly, and it is our responsibility to continuously adapt and strengthen our offerings to support our clients,” Fatoyinbo said.
“We understand the unique challenges faced by exporters and importers, particularly within agribusiness, and provide tailored solutions that simplify trade finance, enabling businesses to focus on growth and productivity.”
Also reflecting on the conference, Eric Fajemisin, Executive Director, Corporate and Transaction Banking, Stanbic IBTC Bank, highlighted the strategic importance of GTR West Africa to the region’s trade ecosystem.
“We leave this year’s GTR even more inspired as always, by the quality of engagement and the opportunities identified, and more committed than ever to enabling trade and economic development across Nigeria and the wider West African region. Trade finance is not peripheral to development; it is fundamental to it,” Fajemisin said.
Delegates from Stanbic IBTC Bank and Standard Bank Group contributed actively to the programme. Adedayo Adesanmi, Senior Vice-President, Structured Trade Finance, Standard Bank Group, shared insights on scaling supply chain finance and strengthening domestic value chains, while identifying cross-border growth opportunities.
In a dedicated agribusiness case study session, Seun Ogundolapo, Head of Trade Transaction Banking, Stanbic IBTC Bank, alongside Sreenivas Alagonda, Chief Financial Officer, Robust International Commodities, examined the practical delivery of structured commodity trade finance solutions.
The conference also welcomed senior trade finance leaders from across the Group, including Prince Baffour Agyei, Acting Head, Trade Working Capital, Stanbic Bank Ghana; Shunker Amish, Head, Transaction Banking Trade Distribution & Syndication, Standard Bank Group; and Joseph Anagblah, Head, Sales, Transaction Banking, Stanbic Bank Ghana; reinforcing the Group’s strong pan-African collaboration and continued support for the GTR platform.
As lead sponsor, Stanbic IBTC Bank hosted clients and stakeholders throughout the conference, facilitating high-level engagement, knowledge sharing and cross-sector networking. Through thought leadership panels and practical case studies, the Bank demonstrated its continuing focus on expanding access to trade finance and supporting businesses of all sizes.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
By Adedapo Adesanya
Nigeria’s Bank Verification Number (BVN) enrolment has slowed significantly in 2026 following the introduction of a stricter regulatory framework by the Central Bank of Nigeria (CBN), with the latest data from the Nigeria Inter-Bank Settlement System (NIBSS) showing that registrations are on course to fall well below last year’s record.
The BVN database stood at 69.55 million as of July 5, 2026, up from 69.32 million in June, indicating that only 228,947 new registrations were recorded over the period. Since the end of 2025, when the database stood at 67.8 million, total enrolments have increased by 1.75 million.
At the current pace, however, BVN registrations are unlikely to match the 4.3 million new enrolments recorded in 2025, suggesting a sharp deceleration in growth this year.
The slowdown comes after the CBN introduced a revised BVN regulatory framework in March, with the new rules taking effect on May 1, 2026. The framework tightened controls around enrolment, identity verification and fraud monitoring as part of efforts to strengthen the integrity of the banking system.
Among the key changes was the introduction of a minimum enrolment age of 18 years, effectively preventing minors from registering for a BVN.
The new framework also limits customers to a one-time change of the phone number linked to their BVN and requires financial institutions to place BVNs linked to suspected fraudulent transactions on a temporary watch-list for up to 24 hours while investigations are carried out.
The stricter rules contrast with last year’s surge in registrations, which was largely driven by the introduction of the Non-Resident Bank Verification Number (NRBVN) initiative that enabled Nigerians in the diaspora to complete BVN enrolment remotely, removing physical barriers and expanding access to the financial system.
Launched on February 14, 2014, the BVN scheme was introduced by the CBN in collaboration with the Bankers’ Committee, NIBSS and German technology firm Dermalog to assign every bank customer a unique biometric identity that can be verified across Nigeria’s banking industry.
