Banking
Access Bank Makes Move to Unfreeze Accounts of #EndSARS Protesters
By Dipo Olowookere
The management of Access Bank Plc has disclosed that it was making efforts to ensure that the accounts of eight of its customers frozen because of their alleged involvement in the #EndSARS protests last month are unfrozen.
Recall that the Central Bank of Nigeria (CBN) had secured a court order to place an embargo on the bank accounts of 20 persons believed to have actively partaken in the protests, which later turned violent after some hoodlums hijacked the action.
The action of the apex bank was highly criticised by many, especially when the CBN Governor, Mr Godwin Emefiele, had claimed that the #EndSARS campaigners were suspected to be supporting terrorism and hurting the economy.
Business Post gathered that eight of the 20 persons operated accounts with Access Bank and Friday, the lender, in a statement, expressed his worry about the matter.
The financial institution said it took the step in compliance with the directive of the watchdog of the banking industry in the country, CBN, especially when it got a court directive for it.
“It is common knowledge that we and the entire banking industry are regulated entities and therefore operate under the authority of our regulators and law enforcement agencies. As such we are compelled to comply with regulatory directives,” the lender explained.
However, it emphasised that efforts are being made to resolve the issues amicably.
“We want to express our sympathy for the inconvenience that eight of our customers are going through due to the restrictions on their accounts as mandated by a federal court order. We are eager for this to be resolved as soon as possible,” the bank stated, noting that it would play its part to ensure that they have access to their accounts as quickly as possible.”
Access Bank assured that it will continue to strive hard to deliver superior service to its customers, urging that “enquiries and views be channelled to the relevant regulatory and judicial agencies where the matter is receiving attention.
“It is, therefore, surprising that some individuals still choose to target Access Bank in a negative manner despite not being the source of the action,” the statement from the bank said.
It is important to note that Access Bank has always been at the forefront of innovative efforts in support of the development of our country. We embrace this role as we are also the largest employer of labour – a sizable number of which are youth.
The lender has always led the way with regard to support for young Nigerians in terms of capacity building and development of SMEs.
Recall that Access Bank launched an initiative to boost the creative industry with loan facilities aimed at capacity building and employment for individuals and businesses in movie production and distribution, fashion, IT and music. its commitment also extends to the support of small business owners through initiatives that provide access to finance for growth and expansion.
“We continue to be concerned by the inconvenience that our affected customers are experiencing. We stand ready to play our part to remedy the situation and have them using their accounts as quickly as possible,” the bank assured.
By Modupe Gbadeyanka
Stakeholders in the underwriting sector are currently discussing how the working group of Nigeria can plan for the rainy days, especially when they no longer have the strength to run around to make ends meet.
They are attending the second edition of Stanbic IBTC Insurance Annuitant Forum being held virtually with the theme Making the Most of Life in Retirement.
Retirement is often viewed as a new beginning, an opportunity to enjoy the fruits of one’s lifetime work.
The subsidiary of Stanbic IBTC Holdings Plc organised this programme in line with its mission to support clients through every stage of life.
The virtual format ensures wider access, allowing retirees and those planning for retirement to engage in meaningful, interactive discussions on topics that matter most, ranging from health and wellness, estate planning, and expert insights on securing a fulfilling retirement.
Participants can look forward to discussions on long-term income strategies, the vital role of insurance in maintaining financial stability and how organisations can better support their staff’s retirement journeys. The event will also touch on lifestyle aspects such as wellness, leisure, and personal growth; reinforcing the idea that retirement is a time to thrive.
“Retirement is a significant milestone that should be embraced with purpose, security and fulfilment. Unfortunately, many are unprepared for the realities that come with this phase.
“Our goal with this forum is to provide both retirees and employers with practical guidance and holistic advice, helping them navigate this new chapter confidently,” the chief executive of Stanbic IBTC Insurance, Mr Akinjide Orimolade, stated.
The Stanbic IBTC Insurance Annuitant Forum has become an important platform for the organisation to connect with its retirees, strengthen relationships, and reaffirm its leadership in retirement planning solutions.
By hosting the event virtually, the company is committed to making this resource accessible to retirees nationwide, ensuring that no one is left behind in planning for a rewarding retirement.
By Aduragbemi Omiyale
Seven mortgage banks operating in Nigeria have been blacklisted by the National Pension Commission (PenCom) over non-compliance with housing loan guidelines.
In a circular dated August 11, 2025, signed by the Head of Benefits and Insurance Department, Obiora Ibeziako, the regulator directed the Pension Fund Administrators (PFAs) and Pension Fund Custodians (PFCs) to immediately stop accepting or processing equity contribution applications from the real estate banks.
It was learned that the lenders failed to generate the loans for which pension funds had been approved.
According to the notice, the affected institutions as Jigawa Savings & Loans Limited, FHA Mortgage Bank Limited, Delta Trust Mortgage Bank Limited, AG Mortgage Bank Limited, Infinity Trust Mortgage Bank Plc, First Trust Mortgage Bank Limited, and Mutual Alliance Mortgage Bank Limited.
“Following the cited letter, the commission instructs that Pension Fund Administrators, including Closed Pension Fund Administrators and Pension Fund Custodians, immediately stop accepting or processing equity contribution applications submitted by the following Primary Mortgage Banks,” a part of the disclosure stated.
By Aduragbemi Omiyale
Pioneer non-interest financial institution in Nigeria, Jaiz Bank Plc, has announced a change to its brand identity, adopting new colours and logo to reflect its vision for the future.
In a statement signed by its Company Secretary, Mr Mohammed Shehu, it was disclosed that the new colours are deep blue, yellow, and grey.
In the statement, Jaiz Bank noted that, “The rebranding reflects our renewed commitment to empowering individuals, businesses, and communities with smarter financial solutions.
The Islamic lender, which said it’s committed to innovation, trust, and customer-centric banking, said, “The new brand represents more than just a colour and logo change; it is a reflection of the bank’s evolution and aspirations building a future-ready bank that is agile, inclusive, and deeply connected to the needs of our customers.”
“The new colours and logo represent Trust, Stability, Professionalism, Energy, Optimism, Visibility, Balance, and Sophistication,” it emphasised.
While “inviting stakeholders, partners, and customers to join us in celebrating this exciting new chapter, Jaiz Bank noted that rebranding became effective today, Tuesday, August 19, 2025.”
It described the “strategic transformation” as a “significant milestone in the bank’s journey to better serve its customers, embrace digital innovation, and expand its footprint in the financial services industry.”
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