Banking
148 Stanbic IBTC Customers Share N23m in Reward4Saving Season 4 Promo
By Modupe Gbadeyanka
The savings promo of Stanbic IBTC Bank Limited has produced about 148 winners who have shared N23 million in winnings.
A statement from the lender disclosed that the N23 billion was won by the customers in the May and June 2025 draws for the Reward4Saving Season 4 promo.
In the combined May and June monthly draws held at the head office of the organisation in Lagos, 140 customers each received N100,000, totalling N14 million in cash prizes.
Under the supervision of regulatory authorities including the Federal Competition and Consumer Protection Commission (FCCPC), the Advertising Regulatory Council of Nigeria (ARCON); and the Lagos State Lotteries and Gaming Authority (LSLGA), the draws were conducted transparently, rewarding savers who maintained a minimum balance of N10,000 in their Stanbic IBTC Savings Account or @ease Wallet for 30 consecutive days.
From market traders to students and retirees, these winners are now better equipped to pay school fees, grow small businesses, or meet family needs.
The excitement peaked with the emergence of eight additional winners from the first quarterly draw which took place on the same day.
It was disclosed that seven winners, one from each business zone, each claimed N1 million; while one grand quarterly winner took home N2 million, totalling N9 million. These draws show how Stanbic IBTC values every saver’s effort.
The recent draws build on the Reward4Saving promo’s strong start in May 2025, with N30 million already shared among 218 winners in this fourth season; and over N300 million awarded to more than 2,000 savers since the Reward4Saving promo began in 2021. Stanbic IBTC is making a lasting impact in the lives of Nigerians.
This campaign continues to transform everyday savings into substantial rewards and also inspires a growing saving culture among individuals.
“The combined draws of two monthly events, as well as the first quarterly draw of the Reward4Saving Season 4 promo celebrate our customers’ dedication.
“We are rewarding 148 savers with a total of N23 million to support their aspirations ranging from education to entrepreneurship.
“At Stanbic IBTC, we are committed to appreciating our loyal customers by providing meaningful opportunities that enhance their financial well-being and promote a culture of saving across Nigeria,” the Country Head of Personal Banking at Stanbic IBTC Bank, Mr Emmanuel Aihevba, said.
One of the winners, Mr Kesena Igben, a retiree who won a monthly prize, beamed, “My daughter came with me to receive my prize.
“On our way to Stanbic IBTC office, she said, Daddy, you are so excited. I said to her, Did you know that this has saved me money on petrol expenses for two weeks? So, for me to have money that Stanbic IBTC gave me, which took away the pain of spending on petrol for two weeks, is great to me.”
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
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.
