Banking
Access Bank Promotes Cleaner Energy Solutions With Switch to Solar Campaign
By Modupe Gbadeyanka
A Switch to Solar by Access campaign designed to promote cleaner energy solutions within communities has been introduced by Access Bank Plc.
The scheme aims to offer affordable financing opportunities to businesses and customers to adopt a cleaner and more reliable source of electricity through solar photovoltaic (PV) and batteries.
At the unveiling in Lagos, the lender stated that the campaign was part of its commitment to the Economic, Social and Governance (ESG) seventh goal of the United Nations (UN) and to also provide a viable alternative source of power supply to customers.
“We needed to assist them to provide alternative ways to power their operations. We all know the cost of the tariff of electricity,” the Regional Sales Director of Access Bank, Mr Bolarinwa Animashaun, said.
Business Post gathered that the product can easily be acquired without pressure on customers and payment can be made for 48 months.
The Switch to Solar by Access campaign will enable businesses to access up to N50 million and individuals N10 million for the financing of Solar Photovoltaic (PV), batteries and inverters along with installation, with a competitive interest rate, flexible repayment period of up to 48 months and as low as 10 per cent equity contribution on invoice value.
“In alignment with our commitment to social responsibility and sustainable development, Access Bank Retail banking aims to promote cleaner energy solutions within our communities.
“Recognizing the critical role that renewable energy plays in reducing carbon footprints and fostering environmental sustainability, we are launching a targeted initiative to facilitate the acquisition of solar power products through flexible financing options with the Switch to solar product.
“We launched the initiative, which ensures that each household can have solar energy, first of all, to reduce costs for them, provide clearer energy and the product will be financed by the bank,” the Group Head of Consumer Banking at Access Bank, Ms Njideka Esomeju, said.
She stated that in ensuring this the bank is in collaboration with credited vendors across the country selling solar products.
“We are collaborating with them to ensure that these are gotten at a good rate. We aim to ensure that all households, commercial businesses and industrial factories are powered by solar,” she added.
Also speaking at the event, the Group Head of W Initiative at Access Bank, Ms Abiodun Olubitan, said that the bank was considering women and women-led businesses in accessing the product at a discounted interest rate to enable them to run their businesses on any scale that they want because they account for about 60 per cent of the country’s over 200 million population.
“We are trying to ensure that this product is also positioned to women’s reach.
“The beauty of it is that we are not just ensuring that we have a clean environment, this is also our way of empowering women,” she stated.
The Unit Head of Consumer Lending at Access Bank, Ms Thelma Luke Nwoye, in her contribution to the objective of the campaign, said, “We want to take this awareness in collaboration with our partners to the doorstep of every community around us, one individual at a time and one cluster at a time.
“We also plan to educate people about the benefit of solar energy and its impact on environmental sustainability.”
She explained that the Bank will finance the entire solar products, right from panels, inverters, batteries and installation, adding that this campaign is very important because it speaks to sustainability, social impact and providing finance for individuals or customers where they can purchase and pay over a period of 12 months to 48 months.
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.
