Connect with us

Banking

DBN Introduces Products for Financing MSMEs

Published

on

DBN New TV Commercials

By Aduragbemi Omiyale

Three new products aimed to provide the much-needed access to financing window to micro, small and medium scale enterprises (MSMEs) in Nigeria through participating financial institutions (PFIs) have been introduced by the Development Bank of Nigeria (DBN).

The merchandises launched by the federal government’s development banking institution are the DBN finance to finance (F2F) product, the DBN non-interest banking product and the DBN long-term product.

All these products are meant to cover all aspects of the MSMEs sector irrespective of location, industry or business cycle. They are, however, meant for those MSMEs with less than 250 employees, an asset base of less than N1.125 billion and an annual turnover of less than N950 million.

A statement made available to Business Post disclosed that the maximum loan size disbursable to any of the qualifying MSMEs is N200 million.

The lender explained that the DBN F2F is specially designed for financial institutions (FIs) that lend to MSMEs through the likes of microfinance banks, microfinance institutions, financial NGOs, cooperatives, fintech companies and other non-bank financial institutions.

Through this product, which has a tenor of up to seven years, the DBN makes funds available to FIs who are unable to receive funding directly from DBN to disburse to their MSME customers.

This way, the DBN is able to expand its reach to the MSMEs. The FIs who will qualify for this product would be expected to have active MSME portfolios and demonstrate a commitment to lend the funds to the target MSMEs.

For the DBN non-interest banking product, it was developed for applicable PFIs for on-lending to their MSME customers under the non-interest banking window.

The fund, which is in support of the PFIs’ funding to their MSME customers, is a demonstration of the DBN’s commitment to increasing the availability of its funding to all MSMEs across the country.

The product, which is also aimed at promoting financial inclusion in the country, is available to all non-interest banks as well as other financial institutions who have non-interest banking products and wish to utilize DBN funds to deploy non-interest banking loans to their MSME customers for a tenor of up to five years.

The third product, according to the statement, is a loan product provided to PFIs to support their long-term lending to MSMEs for a period of up to 10 years.

The structure of the fund is flexible and can be easily adapted to suit the PFIs’ peculiar needs and finance structure.

Any PFI can request for this facility to cater for the long-term finance needs of its MSME customers where there are tenor mismatches between available funding and customers funding requirements.

The DBN noted that it expects these products to further address the existing access to finance challenges facing MSMEs in the country, which has been exacerbated by the effects of the coronavirus disease (COVID-19) pandemic.

Prior to the outbreak of the COVID-19 pandemic, the funding gap in the MSMEs sector in Nigeria was a whopping N48 trillion, according to the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele and this spurred the DBN to look for ways to bridge this gap in line with its strategic mandate.

These products could not have come at a better time when both the global and local economies have been battered by the effects of the COVID-19 pandemic. Nigeria, just like other countries of the world, has had its fair share of the pandemic and its effects, leading the country into a bad economic depression – the worst since the 1980s and the second since 2015.

The lockdown led to the closure of many businesses, mostly the micro, small and medium-scale enterprises (MSMEs), in the country. Those who survived or surviving are struggling to get on their feet once again as they are besieged with challenges of access to finance.

The DBN, which commenced operations in 2017, has between 2018 and 2020, disbursed N323 billion to over 136,000 MSMEs across the six geopolitical zones of the country through the PFIs.

With the creation of these products, the Bank is poised to increase its impact on the operations of the MSMEs in Nigeria.

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

Banking

Stanbic IBTC Reinforces Role in Driving Businesses, Key Sectors in Nigeria

Published

on

stanbic ibtc support businesses

By Adedapo Adesanya

Top financial services provider in Nigeria, Stanbic IBTC, has reiterated its commitment to empowering businesses, strengthening key sectors and positioning Nigeria as a competitive player in the global economy.

This came on the back of the 2026 edition of the Nigeria Business Summit from Wednesday, April 1 to Thursday, April 2, 2026, at the Landmark Event Centre, Victoria Island, Lagos. The two-day summit brought together industry leaders, policymakers, entrepreneurs and stakeholders across multiple sectors to explore sustainable business practices, foster economic growth and unlock global trade opportunities.

With the theme, Nigeria Means Business: Powering Sectors, Growing Sustainable SMEs & Unlocking Global Trade, the summit addressed critical issues across key sectors, including agribusiness, renewable energy, trade and Africa–China banking, as well as ICT and telecommunications. Additional sessions covered areas such as family business sustainability, artificial intelligence, employee value banking, insurance, pension and wealth management.

The event featured a keynote address by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who emphasised the urgent need for Nigeria to reposition itself as a leading export-driven economy to achieve sustained growth.

“Our true potential lies in becoming a leading export economy,” Edun stated. “Increased participation in regional and global trade will be critical to diversifying foreign exchange earnings and driving inclusive growth.”

He noted that while Nigeria’s GDP growth has improved to approximately 4 per cent, it remains below the level required to significantly reduce poverty. According to him, the country’s economic strategy is now shifting from stabilisation to growth acceleration, with trade expansion playing a central role.

Mr Edun highlighted ongoing reforms, including improved foreign reserves, rising non-oil revenues and renewed investor confidence, as indicators of a more resilient economy. However, he stressed that enhancing trade competitiveness would require continued investment in infrastructure, logistics and policy coordination.

He also highlighted the importance of small and medium-sized enterprises (SMEs), which account for over 90 per cent of businesses, noting that inclusive growth will depend on stronger collaboration between the public and private sectors.

Participants engaged in a rich line-up of activities, including expert presentations, panel discussions and high-level networking opportunities. Highlights of the summit included the Africa Trade Barometer presentation, client testimonial showcases and insightful discussions on the state of the African economy and intra-African trade opportunities.

Breakout sessions on agribusiness, ICT and healthcare, Africa-China banking and trade, as well as renewable energy, provided attendees with deeper, practical insights into some of the most critical sectors driving Nigeria’s economic future.

Speaking at the event, Mr Chuma Nwokocha, chief executive of Stanbic IBTC Holdings, represented by the organisation’s Chief Finance and Value Management Officer, Mr Kunle Adedeji, emphasised the importance of collaboration and innovation in driving sustainable growth.

“This summit has reinforced the importance of creating platforms where ideas can flourish, and businesses can grow sustainably. By working together, we can unlock new opportunities and drive economic advancement across Nigeria and the African continent,” he said.

The summit also spotlighted practical strategies for integrating sustainability into business operations, encouraging organisations to adopt environmentally conscious practices while maintaining profitability and competitiveness.

Mr Remy Osuagwu, Executive Director, Business & Commercial Banking, expressed satisfaction at the level of interest from participants, a critical element for a successful summit.

“From our conversations on energy and healthcare to the deep dives into trade, Africa-China relations, and agribusiness, Day 1 has offered perspectives that were both insightful and practical. I believe we’re all leaving with a stronger understanding of the opportunities emerging across our industries,” he said.

He acknowledged the level of engagement, questions, contributions and willingness of participants to share experiences, describing this as the real power of the Nigeria Business Summit, and a solid foundation for tomorrow.

The Chief Executive of Stanbic IBTC Bank, Mr Wole Adeniyi, who was represented by Mrs Bunmi Dayo-Olagunju, Deputy Chief Executive of Stanbic IBTC Bank, opened Day Two of the Nigeria Business Summit by highlighting the focus of the summit’s SME Day. 

“Today, we build on Day One’s momentum with conversations that are equally critical for the future – from the dynamics of family businesses to the growing influence of artificial intelligence; the evolution of insurance, and the emerging space of electric vehicle banking.”

She further added, “Our goal on Day Two is simple: to explore what’s next. To understand how these developments will shape our businesses and how we can position ourselves ahead of the curve.”

Continue Reading

Banking

Applications Open for GTCO ‘Take on Squad’ Hackathon 3.0

Published

on

Squad logo

By Dipo Olowookere

Tech enthusiasts interested in participating in the Take on Squad Hackathon, organised by Guaranty Trust Holding Company (GTCO) Plc, can now enter the contest via the official portal at https://squadco.com/hackathon.

The programme enters its third edition in 2026, and the theme for this year is Smart Systems: The Intelligent Economy, according to a statement issued by the organisers.

The hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors, including financial services, healthcare, commerce and digital inclusion.

Participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.

It is part of the organisation’s commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.

 “Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve.

“Through Take on Squad Hackathon, we are deliberately investing in the ideas and talent that will define the future.

“Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact.

“This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress,” the Managing Director of HabariPay, Ms Eduofon Japhet, stated.

The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.

Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.

Continue Reading

Banking

Easter: Ecobank Assures Customers Uninterrupted Banking Services

Published

on

Ecobank Remodel branches

By Dipo Olowookere

Banking services will not be interrupted throughout the Easter public holidays, from Friday, April 3, to Monday, April 6, 2026, for any reason, Ecobank Nigeria has assured its customers.

In a message over the weekend, the member of Africa’s leading pan-African banking group, Ecobank Transnational Incorporated, said customers would continue to enjoy quality service delivery during the period.

It noted that its secure and robust digital platforms would remain fully operational to support financial activities during the festive period.

All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide, will remain accessible throughout the holiday, the financial institution further said, urging customers to conveniently conduct transactions at any time using this wide range of digital solutions.

Ecobank customers were encouraged to maximise the bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management.

They were also advised to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.

“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs,” the Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, Mr Victor Yalokwu, stated.

“We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are.

“Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” he added.

Mr Yalokwu noted that, “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”

Continue Reading

Trending