Banking
Access Bank, Others Empower Female Business Owners
By Dipo Olowookere
Over 500 female entrepreneurs from across the country have undergone training programmes aimed to scale up their skills on how to leverage digital platforms to drive growth in their businesses.
The initiative, which kicked off last month, has held in Abuja, Lagos, Enugu and Ibadan with over 500 female business owners in attendance.
It was put together by Access Bank in partnership with She Leads Africa under the Facebook Program called #SheMeansBusiness.
The second phase of the Access Bank, Facebook and She Leads Africa training will continue in Abeokuta on Wednesday, July 17, Jos, July 23, and Benin, July 26, 2019.
Addressing newsmen in Abuja during the start of the training series, Executive Director, Retail banking, Access Bank Plc, Victor Etuokwu, said “As one of the fastest growing retail banks in the country, Access Bank is always at the forefront of leveraging technology to drive emerging businesses.
“The idea behind this partnership and empowerment programme is to give our SME customers an opportunity to expand their access to market and increase their visibility to potential customers.
“There are over two billion people on Facebook globally and over 65 billion WhatsApp messages exchanged globally on a daily basis. With the right knowledge, our customers can showcase their products to large audiences as well as get leads that will take their businesses forward.”
Etuokwu further said “We intend to actualise our promise as the largest retail bank in Africa to provide not just financial services but also non-financial services which we provide knowing that when our customers succeed it will trickle down to us.”
During an interview with Chigozie Onyeocha, the Regional and Sales Director of Lagos Mainland at Access Bank, it was learnt that the bank has strong interest in Small and medium-sized enterprises (SMEs). According to Onyeocha, Access Bank believes that if SMEs are well supported, the country’s economy will benefit in return.
“We have millions of SME businesses in Nigeria in this category, employing over 60 million Nigerians presently, for us, we believe if we support the SME sector right, we will have a better economy.” He further disclosed that the programme was initiated because of the bank’s belief that women are better managers.
“Women are better managers, and if we engage them well and provide them with the necessary materials and opportunities to grow their businesses, it will help our mission, which is to boost the nation’s economy.”
“We actually have a division in the bank that caters to women, and we have opportunities that we expose our female customers to. We have loan facilities for women at a low-interest rate, encouraging them to do their businesses right. Our goal is to have more empowered women which we believe will deliver a better economy,” Onyeocha concluded.
She Leads Africa’s Digital Marketing Trainer, Adeyemi Adedayo, said the programme is specifically designed for women to upscale and boost their businesses, and focuses on how to use Facebook’s family apps, including Messenger, WhatsApp and Instagram.
Adedayo stressed that feedback from the business owners engaged so far has been tremendous. “We have since recorded remarkable growth in engaging these women and the results derived from these engagements have been very remarkable. The women have responded well so far, and it is encouraging for the trainers,” he said.
While Adedayo stated the initiative has birthed futuristic businesses that will thrive the economy, he lauded Access Bank Plc for keying into the objective of Facebook’s human empowerment.
“Access Bank has been great in this collective responsibility with She Leads Africa and Facebook to empower in order to have a robust economy.”
One of the participants, Bolanle Alabi, CEO, Easy Flight Travels in Lagos, said, “I have learnt how to market products online by locating my audience and giving them direct information. Sometimes when you go on Facebook, you do not give the specific details to be able to attract the required audience, I have learnt how to restructure and how to create the right profile.”
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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.
By Adedapo Adesanya
Nigeria’s Bank Verification Number (BVN) enrolment has slowed significantly in 2026 following the introduction of a stricter regulatory framework by the Central Bank of Nigeria (CBN), with the latest data from the Nigeria Inter-Bank Settlement System (NIBSS) showing that registrations are on course to fall well below last year’s record.
The BVN database stood at 69.55 million as of July 5, 2026, up from 69.32 million in June, indicating that only 228,947 new registrations were recorded over the period. Since the end of 2025, when the database stood at 67.8 million, total enrolments have increased by 1.75 million.
At the current pace, however, BVN registrations are unlikely to match the 4.3 million new enrolments recorded in 2025, suggesting a sharp deceleration in growth this year.
The slowdown comes after the CBN introduced a revised BVN regulatory framework in March, with the new rules taking effect on May 1, 2026. The framework tightened controls around enrolment, identity verification and fraud monitoring as part of efforts to strengthen the integrity of the banking system.
Among the key changes was the introduction of a minimum enrolment age of 18 years, effectively preventing minors from registering for a BVN.
The new framework also limits customers to a one-time change of the phone number linked to their BVN and requires financial institutions to place BVNs linked to suspected fraudulent transactions on a temporary watch-list for up to 24 hours while investigations are carried out.
The stricter rules contrast with last year’s surge in registrations, which was largely driven by the introduction of the Non-Resident Bank Verification Number (NRBVN) initiative that enabled Nigerians in the diaspora to complete BVN enrolment remotely, removing physical barriers and expanding access to the financial system.
Launched on February 14, 2014, the BVN scheme was introduced by the CBN in collaboration with the Bankers’ Committee, NIBSS and German technology firm Dermalog to assign every bank customer a unique biometric identity that can be verified across Nigeria’s banking industry.
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has clarified that both the standard N100 banknote and the commemorative N100 banknote remain valid legal tender across the country, urging members of the public and businesses to accept both notes for all transactions amid reports that the standard version is being rejected in some quarters.
In a release signed by its Acting Director of Corporate Communications, Mrs Hakama Sidi-Ali, “the CBN reiterates that both the commemorative N100 banknote and the standard N100 banknote remain legal tender in Nigeria and must be accepted for all transactions nationwide. The commemorative N100 banknote, which was introduced to mark Nigeria’s centenary, did not replace the existing standard N100 banknote.”
The apex bank warned that rejecting the standard N100 banknote violates the provisions of the CBN Act and undermines public confidence in the national currency.
According to the bank, individuals, businesses, financial institutions, and other economic agents who reject the note could face appropriate enforcement measures.
The CBN reiterated its commitment to safeguarding the integrity of the naira, ensuring confidence in all duly issued banknotes, and promoting seamless currency circulation throughout the economy.
The central bank also advised members of the public to accept all banknotes legally issued by the bank and encouraged anyone seeking clarification to use its official communication channels.
First introduced on December 1, 1999, the N100 note which features the portrait of Chief Obafemi Awolowo on the front and Zuma Rock on the reverse, was last updated in 2014, when the CBN issued a commemorative version to mark Nigeria’s centenary, introducing enhanced security features such as a Quick Response (QR) code, window micro-optics, improved tactile markings for the visually impaired, and stronger anti-counterfeiting elements.
Unlike the N200, N500 and N1,000 notes, which were redesigned in 2022 under former CBN Governor Godwin Emefiele, the N100 note has remained unchanged since the centenary update, with both the standard and commemorative versions continuing to circulate.
