Banking
Ecobank Nigeria Academy Gets CIBN’s Certificate of Accreditation
By Dipo Olowookere
An accreditation certificate has been presented to Ecobank Nigeria for its training institute after scoring above the minimum threshold on all the parameters of measurement.
The certification was presented to the bank by the Chartered Institute of Bankers of Nigeria (CIBN) led by its President, Mr Uche Olowu.
Recall that recently, the CIBN accredited the ultra-modern and state of the art Ecobank Nigeria Academy, which would be used to groom the next bankers to be employed by the lender.
At the presentation, the CIBN called on other financial institutions in the country seeking accreditation of their training school to emulate Ecobank Nigeria.
According to Mr Olowu, Ecobank Nigeria Academy received the institute’s nod based on the report of its Capacity Building and Certification Committee that the training school has met all the parameters of measurement, stressing that it was a manifestation of the importance the management of the bank place on capacity building of its workforce.
“As an Institute, we congratulate Ecobank for the accreditation of its Academy. This comes after rigorous accreditation processes by members of our Capacity Building and Certification Committee which showed that Ecobank has complied with and satisfied the provisions and requirements of the Competency framework for the Nigerian Banking Industry as mandated by the Central Bank of Nigeria (CBN) through CIBN.
“The Academy was found to have scored above the minimum threshold on all the parameters of measurement.
“We firmly believe this accreditation would not only enable Ecobank comply with the provisions of the Competency Framework but also strengthen the intellectual resources and capabilities available in the bank,” the CIBN chief said.
He disclosed further that the institute has so far accredited 18 bank academies, 20 Educational Training Service Providers (ETSPs) and currently executing linkage agreements with 65 tertiary institutions, stressing that apart from addressing competency challenges and enthroning a minimum standard for practitioners in the industry, it is also furthering its mandate as the sole accreditation agency for the implementation of the Competency Framework in the industry.
In his remarks, Managing Director of Ecobank Nigeria, Mr Patrick Akinwuntan, said the accreditation of the academy re-enforces the bank’s commitment to empowering its entire workforce for the millennial age, stressing that it would further enable the Bank to take up its rightful position in the industry as the bank of choice.
“I must salute our Human Resources team and my colleagues in the management team for this landmark step. This underscores the importance we attach to staff training, skills development and capacity building as we seek to transform our Bank to deliver value to customers and shareholders.
“There is no substitute to knowledge. We will continue to upgrade the standard of the Academy to meet with fresh and modern-day industry challenges,” he said.
The Managing Director specifically commended CIBN for the various initiatives targeted at raising standards, promoting ethics and positioning the financial services industry to meet with the new challenges such as digital banking and financial technology (Fintech), adding that the institute was also contributing meaningfully towards the economic development of the country through its various activities in African Continental Free Trade Area (AfCFTA).
He reiterated that Ecobank would continue to partner with the Institute in promoting integrity, professionalism, innovation and ethics in the banking and finance industry.
Commenting, the Manager of Learning and Development at Ecobank Nigeria, Mr Ayotunde Opeoluwa, stated that the accreditation of the academy was an attestation of the bank’s commitment to its roadmap to industry leadership goals through people development, stressing that Ecobank will continuously seek improvement in ensuring that its curriculum is dynamic and meet global standards.
Mr Opeoluwa, who is also the Head of the Academy, further said, “This is a good news for us as a bank. It reinforces our people centric strategy to equipping our staff with the right skills and competence in line with global practices.
“Let me use this opportunity to thank our Management for the great support and members of our internal faculty for their dedication toward achieving this milestone. We will continue to seek improvement to maintain industry and global standards.”
Ecobank Nigeria is a member of Pan African bank, Ecobank Transnational Incorporated (ETI), based in Togo, operating in 36 countries in Africa and with representative offices in Paris, Beijing, Dubai, Johannesburg and London.
Ecobank Nigeria has made many pioneering achievements and ‘firsts’ across various products and digital platforms in the country.
By Adedapo Adesanya and Modupe Gbadeyanka
The Central Bank of Nigeria (CBN) has described rumours that Polaris Bank Limited failed to meet the recapitalisation deadline on March 31, 2026, as fake news.
The banking sector regulator in a post via its social media handle on X, formerly known as Twitter, on Thursday also said reports that notable businessman, Mr Razaq Okoya, was planning to acquire the financial institution were false.
There were reports on Wednesday that Polaris Bank, which was created after the operating licence of Skye Bank was revoked by the CBN in 2018, could not meet the deadline to raise its capital base.
The central bank gave banks two years to increase their minimum capital requirements based on their licence coverage.
For lenders with an international licence, they were to boost their capital base from N25 billion to N500 billion, while national banks were asked to have at least N200 billion, with regional lenders N50 billion.
The deadline was March 31, 2026, and according to the CBN, about 33 banks scaled through, raising about N4.65 trillion.
An X user had written that, “Polaris Bank is currently undergoing a liquidation process for not able to comply with the Central Bank of Nigeria recapitalisation requirements, and the bank would be put under NDIC to be liquidated. The bank licence might also be revoked soon. But billionaire Razaq Okoya has made a bid to purchase the bank, reinstate it, [and] also to comply with the CBN requirements. This deal is said to be finalised the moment NDIC and other shareholders agree with what Razaq Okoya is ready to offer.”
While reacting to the above, the CBN said, “This content is fake. Let the public be guided. The Nigerian banking system is safe and secure.”
In 2024, the banking sector regulator appointed new chief executives for three banks, including Polaris Bank, after the dissolution of their boards and managements over the non-compliance of these banks and their respective boards with the provisions of Section 12(c), (f), (g), (h) of the Banks and Other Financial Institutions Act, 2020. The others were Union Bank and Keystone Bank.
By Dipo Olowookere
Shareholders of Wema Bank Plc will receive a dividend of N1.25 for the 2025 financial year if approved at the next Annual General Meeting (AGM).
The board proposed the cash reward to investors after achieving record-breaking growth and unparalleled performance across several key metrics in the year under review.
Details of the FY 2025 audited financial results of the lender showed that pre-tax profit went up by 116.4 per cent to N221.9 billion from N102.5 billion, while net profit soared by 125.4 per cent to N194.5 billion from N86.2 billion in 2024.
Last year, the financial institution grew its gross earnings by 52.8 per cent to N660.6 billion from N432.3 billion in the preceding year, driven largely by a 62.7 per cent growth in interest income, reflecting improved yields on earning assets and growth in the loan book.
As for its balance sheet, it was observed that total assets chalked up 41.5 per cent to N5.07 trillion from N3.59 trillion, and customer deposits grew by 30.3 per cent to N3.29 trillion from N2.52 trillion, demonstrating sustained customer confidence.
This growth in deposits provided stable funding for asset growth while supporting liquidity and balance sheet resilience. Net interest income more than doubled, rising by 103.9 per cent to N361.0 billion, supported by improved asset pricing and balance sheet expansion. Non-interest income also grew modestly by 8.3 per cent to N85.3 billion. Net loans and advances increased by 44.7 per cent to N1.74 trillion, up from N1.20 trillion in FY 2024, thus reflecting Wema Bank’s continued support for key sectors of the economy while maintaining a disciplined risk management approach.
“Wema Bank has delivered one of the strongest growth trajectories in its history. From a PBT of N14.75 billion three years ago, we grew to N43.59 billion in 2023 and reached N102 billion in 2024. In 2025, we have taken an even bolder step forward, recording a PBT of N221 billion,” the chief executive of Wema Bank, Mr Moruf Oseni, commented.
“As of September 2025, Wema Bank successfully surpassed the N200 billion recapitalisation minimum threshold for commercial banks with national authorisation.
“Our FY2025 Financial Results only corroborate what has become abundantly clear—Wema Bank is here not just to stay, but to lead the future of banking in Africa,” he added.
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) is considering the recapitalisation and restructuring of Development Finance Institutions (DFIs) to address the significant financing gap facing micro, small, and medium-sized enterprises (MSMEs).
The Deputy Governor of the apex bank in charge of Economic Policy, Mr Muhammad Abdullahi, disclosed this during a panel session at the launch of the Nigeria Development Update by the World Bank in Abuja on Tuesday.
He explained that a recent review by the apex bank found that existing DFIs were too small to meet the credit needs of businesses.
DFIs are specialised, government-backed financial entities designed to promote economic growth by funding critical sectors like agriculture, infrastructure, and SMEs. Key institutions include the Bank of Industry (BOI), Development Bank of Nigeria (DBN), Nigeria Export Import Bank (NEXIM Bank), Bank of Agriculture (BOA), National Credit Guarantee Company Limited, and Nigerian Consumer Credit Corporation, among others.
“We conducted a review last year of the development finance space. Across all the DFIs in Nigeria, the total asset base is slightly above N8 trillion, whereas what is required in development finance for MSMEs is over N130 trillion,” he said.
He said that simply injecting capital would not solve the problem.
“The only way to address this is not only through public sector capital injections into these institutions, but also by making them bankable and investable,” he said.
Abdullahi said the CBN and the Ministry of Finance are reviewing DFI structures to improve their efficiency and risk appetite.
“We are reviewing the entire sector to ensure that we can correct the incentives, improve risk appetite, and also strengthen capital levels,” the deputy governor added.
He also said the reforms aim to introduce stronger market-based principles.
“We are looking at the structure to see how more market fundamentals can be incorporated, because the way it has been done in the past has not delivered the desired results,” Mr Abdullahi said.
On the persistent financing challenge for MSMEs, he said lending to the real sector has always been one of the structural challenges “Nigeria’s economy faces in terms of ensuring that credit reaches businesses that require it”.
Business Post reports that the CBN recently concluded the recapitalisation of the Nigerian banking sector, while the insurance sector is ongoing.
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