Banking
Access Bank Group/UNICEF Initiative – 10 Years Commitment to Africa
By Modupe Gbadeyanka
Access Bank Group (www.AccessBankPlc.com), along with 5th Chukker, The Access Bank UK and Access Private Bank (www.AccessPrivateBank.com) hosted the 10th annual ‘Access Bank Polo Day’ at the Guards Polo Club, Windsor.
The annual event is part of its continued support of UNICEF and the climax to the high-profile Access Bank/UNICEF Charity Shield Polo tournament, celebrating a decade of commitment to UNICEF projects and aimed at reaching out to and highlighting the plight of vulnerable children and orphans and internationally displaced persons.
From its’ base with 5th Chukker in Kaduna, Nigeria, the Access Bank/UNICEF Charity Shield has grown to be the biggest charity polo tournament in Africa and generates interest and support from organisations and individuals across Africa for the UNICEF/Access initiative.
Since the UNICEF/Access Bank initiative was started in 2007 it has seen the rebuilding of two schools in Kaduna and more than 8,000 students sustained in continuous education, at the same time developing new school blocks and a computer literacy building all in a more secure and friendly school environment. The communities surrounding the schools are being supported with bore-holes for water, and sewing and grinding machines to secure employment and stimulate economic and social development.
Access Bank PLC group managing director and chairman of The Access Bank UK Ltd, Herbert Wigwe explained the reasons behind the Bank’s continued support for the Fifth Chukker UNICEF initiative. “We are conscious of our role as a change agent in Nigeria that can help institute socio-economic development through responsible business practice and environmental considerations,” he said. “In addition, we are continually seeking ways through which more resources can be pooled towards supporting the children. We are part of the community and as such should support its wellbeing.”
The UK event which is the culmination of the tournament was organised by The Access Bank UK Limited which has just published its Annual Report for the year ended December 31, 2016. This shows impressive growth indicators including a growth in assets of 81% to £1.1bn, operating income of 27% to £25million, with profit before tax up 45% to£12.5million. Commenting on this success The Access Bank UK’s Chief Executive Officer and Managing Director Jamie Simmonds said:
“Our objective is to grow a sustainable business through customer service excellence, and innovative solutions in trade finance, commercial banking, private banking and asset management.” The Award as Best Africa Trade Finance Bank, for the second year running, as voted by CFI-Co readers and contributors is testimony to the value of our principles of relationship-based banking, growing our business through the depth and quality of customer relationships, while at the same time maintaining a moderate appetite for risk. “Our achievements owe a great deal to the strong partnership that we have with our parent company, as evidenced by our joint support of the Access Bank Day at the Guards Polo Club in Windsor.”
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.
