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Stanbic IBTC Reiterates Support for Nigeria-China Relations

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Stanbic IBTC Yinka Sanni Euromoney Awards

***Celebrates Chinese New Year

Stanbic IBTC, a member of Standard Bank Group, has said it is pleased to join the Chinese community in Nigeria and other well-wishers to celebrate the Chinese New Year, the year of the pig. The company stated that the Chinese community in Nigeria has become a very important part of the Stanbic IBTC business ecosystem as well as that of the country’s socio-economic and cultural heritage and is proud to support the community as it ushered in its new year.

“The staff and management of Stanbic IBTC wish to congratulate the Chinese community as it celebrates its New Year, the year of the pig. You have become a very important part of Nigeria and the Stanbic IBTC family and we are proud to join you to welcome the new Chinese year,” Chief Executive, Stanbic IBTC Holdings PLC, Mr Yinka Sanni, said.

China’s trade relations with Nigeria have grown considerably over the years. Today, China is one of Nigeria’s biggest trade partners, with a trade balance in the region of $8 billion in 2018, even as the Chinese and the Nigerian governments have expressed their commitment to deepen trade relations between the two countries. The recent $2.5 billion currency swap agreement between Nigeria and China to ease trade between the two nations underpins the commitment to strengthen bilateral trade between the two nations.

According to Mr Sanni, the China Nigeria relationship is more significant for Stanbic IBTC. There exists a strategic institutional relationship involving ICBC, Standard Bank and Stanbic IBTC, which can be leveraged to provide stronger trade and business ties between Nigeria and China. ICBC, the world’s largest bank, holds a 20% stake in Standard Bank while Standard Bank has about 65% stake in Stanbic IBTC.

“The relationship presents a huge leverage in Africa-China trade ties and has resulted in various initiatives across Africa, ranging from Renminbi trading, to Africa-China business centres, and landmark deals,” Mr Sanni, said.

“Nigeria is a market with great potential for now and the future; the Industrial and Commercial Bank of China has built a bridge between the two markets to create possibilities. Our special position as a part of ICBC through our Standard Bank heritage has strategically positioned us to help deepen the existing business relationships between the two countries, as the recent currency swap deal portends,” Mr Sanni added.

The Nigerian and the Chinese economies, according to Mr Sanni, have similarities that will continue to strengthen the symbiotic relationships between the two and usher in a brighter future. China remains a market with great potential with the largest population in the world.

Nigeria is also the biggest economy in Africa, in GDP terms, rich in human and natural resources with tremendous growth potential. Stanbic IBTC, the leading end-to-end financial services provider in the country, with a rich heritage derived from the Standard Bank Group, is well positioned to provide full financial and advisory support to Nigerian and Chinese businesses looking to unlock opportunities in both economies.

“Our Africa-China banking Centre was created specifically to link Nigerian and Chinese clients with China’s digital banking ecosystem to underline our unique position as the go-to bank for Chinese businesses in Nigeria and for Nigerian businesses trading in China,” Mr Sanni said.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Zabira Repositions Self as The People’s Wallet

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Zabira technologies

By Aduragbemi Omiyale

A digital assets exchange, Zabira Technologies, has rebranded to reposition itself as The People’s Wallet and Africa’s trusted digital asset hub.

At a media event organised on Tuesday in Lagos to mark its sixth anniversary, the company said its adoption of a new brand identity underscores a renewed commitment to clarity, trust, and accessibility, aligning with the its mission to become Africa’s most reliable digital asset hub.

Zabira Technologies is one of the financial services providers in Nigeria established in 2019 as a simple wallet solution.

Since its inception the firm has evolved into comprehensive digital payments and asset exchange platform, enabling individuals and businesses to seamlessly acquire, store, swap, and grow their digital assets.

Guided by innovation and a user-first philosophy, Zabira empowers Africans to take control of their financial journey anytime, anywhere.

Whether stepping into crypto for the first time or seeking smarter, faster, and more reliable ways to transact, Zabira brings speed, security, and simplicity to every interaction.

“With this new identity, we are making crypto and digital payments more accessible for everyday Africans. Zabira is redefining how people interact with digital assets—offering everything from seamless crypto exchanges and competitive gift card trading to utility bill payments and cross-border transfers. We provide a one-stop platform for secure, efficient, and hassle-free transactions,” the Head of Marketing and Communications at Zabira, Ike Ekemah, stated.

The chief executive of the company, Isaac John, said, “Zabira is expanding its reach across crypto exchange, gift card trading, and bill payments, while staying anchored on our core values captured in the acronym S.P.A.R.K.—Security, where we ensure compliance and safety in every transaction; People, by putting users and our team at the center of everything; Agility, by constantly innovating to deliver fast and seamless solutions; Reliability, through consistent and dependable service; and Knowledge, which empowers us to lead with expertise in digital finance.

“Evolving into The People’s Wallet, Zabira now prioritizes safety, user experience, and financial empowerment. We are positioning ourselves as a reliable and inclusive financial companion for Africans.”

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Access Bank CEO Roosevelt Ogbonna Exits Access Holdings Board

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access bank ceo roosevelt ogbonna

By Adedapo Adesanya

Access Holdings Plc has announced that Mr Roosevelt Ogbonna, a Non-Executive Director, has stepped down from the board after three and a half years of service.

The announcement was made in a disclosure filed on the Nigerian Exchange (NGX) Limited and signed by the Company Secretary, Mr Sunday Ekwochi.

In the statement, the financial institution explained that although Mr Ogbonna is retiring from its board, he will continue to serve as the chief executive of Access Bank Plc, the banking subsidiary of the organisation.

His resignation is aimed at ensuring compliance with the Corporate Governance Guidelines of the Central Bank of Nigeria (CBN) for Financial Holding Companies (2023), which stipulate that no more than nine directors can sit on the board of a financial holding company.

The board expressed its gratitude for his “outstanding and continued contributions to the Access Group.”

Mr Ogbonna was appointed to lead Access Bank in May 2022, after serving as Deputy Managing Director from 2017 and Executive Director from 2013. He joined Access Bank in 2002 from Guaranty Trust Bank (GTBank) and has built up more than two decades of experience in the banking industry.

Beyond his role as CEO, Mr Ogbonna serves on the boards of Access Bank’s subsidiaries in the UK and South Africa and represents the Bank on the boards of Africa Finance Corporation and CSCS Plc.

His background combines both professional and academic achievements. He is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA), an Honorary Member of the Chartered Institute of Bankers (HCIB), and a CFA charter holder.

As of August 2025, the Board of Access Holdings Plc consists of Mr Aigboje Aig-Imoukhuede (Chairman), Mr Bolaji Olaitan Agbede (Acting Group CEO), and Mr Lanre Bamisebi (Executive Director).

The independent non-executive directors are Mr Abubakar Aribidesi Jimoh, Mrs Fatimah Bintah Bello-Ismail, and Mrs Ibironke Adeyemi.

Other members include non-executive directors Mrs Ojinika Nkechinyelu Olaghere and Mr Olusegun Babalola Ogbonnewo.

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Fidelity Bank Limits International Transactions on Naira Card to $1,000 Per Quarter

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fidelity bank naira debit card

By Aduragbemi Omiyale

Customers of Fidelity Bank Plc can now “spend up to $1,000 quarterly for international POS and online transactions,” the lender’s Divisional Head of eBanking, Ms Ifeoma Onibuje.

She was quoted as revealing this in a statement issued to announce the bank’s resumption of international transactions on its Naira debit cards.

Due to foreign exchange (FX) liquidity squeeze in the country, the Central Bank of Nigeria (CBN) earlier stopped financial institutions from allowing their local debit cards to be used by customers for offshore spending.

This restriction was removed this year after over two years of suspension, giving customers the freedom to make seamless payments abroad, online, and at ATMs outside the country.

“We are delighted to inform the public that Fidelity Naira Cards are now enabled for global use. This means that our travelling customers can now utilize their Naira Debit cards outside the country to shop, spend and withdraw internationally without hassles.”

“Consequently, our customers can now spend up to $1,000 quarterly for international POS and online transactions; and withdraw up to $500 quarterly on international ATMs,” Ms Onibuje stated.

The announcement offers Fidelity Bank customers another way to complete international transactions, in addition to the Bank’s existing foreign currency debit and credit cards. This further reinforces Fidelity Bank’s commitment to delivering solutions that fit seamlessly into customers’ lifestyles. With Fidelity Bank’s VISA and Mastercard Naira Debit Cards, Nigerians can now enjoy effortless global access.

Beyond payments, Fidelity VISA cardholders, one of the variants of the bank’s card offerings, also enjoy premium travel and lifestyle benefits ranging from airport lounge and spa access via the Visa Airport Companion App, to fast-track immigration lanes and 20% discounts on SIXT car rentals worldwide.

This move reflects the bank’s commitment to provide secure, convenient, and reliable banking services that empower customers in Nigeria and beyond. The bank has deliberately made the process of getting a Fideity Naira card seamless. Customers can easily apply for their Fidelity VISA or Mastercard Naira Debit card via the Fidelity Mobile App or simply visit the nearest Fidelity bank branch to request for one and they can start transacting globally with ease.

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