Banking
Access Bank Retail Banking Team Flags Off 2nd Fibroid Awareness Campaign
Access Bank’s Retail Banking Team is excited to announce its 2nd Fibroid Awareness Campaign across the country as part of its pioneering CSR intervention, Project 111.
The campaign which runs all through the month of July, 2024, will kick start with a webinar aimed at creating awareness of fibroid among the female populace. And it will be spearheaded by dedicated team members of the bank’s retail group committed to seeing the success of the initiative, against all odds.
The Project 111 is a Fibroid focused initiative to treat one woman at a time, change her family, and by extension, generations to follow.
Uterine leiomyomas or fibroids are benign growths that can be extremely large and cause substantial discomfort, including bright red vaginal bleeding, constipation, bloating, and severe pelvic and low back pain that interferes with women’s daily functioning and child-bearing capability.
The initiative comes on the heels of the general lack of awareness on the part of women as highlighted in key statistics that 70-80% of women will develop fibroid at some point in their lifetime, but only 38% were aware of the available treatment. These statistics emphasize the importance of Project 111, which focuses on creating awareness and support for women who struggle with the issues around fibroid and its effects.
According to the Deputy managing Director, Retail, Chizoma Okoli, “At Access Bank, we believe that our responsibility extends beyond banking. We are dedicated to the well-being of our customers and communities. This campaign is a testament to our commitment to supporting women’s health and ensuring they have the information and resources they need to lead healthy lives.
“Project 111 was officially launched in 2022, when we provided more than 100 free fibroid surgeries in five geopolitical zones to directly touch over 4,000 lives, while creating a ripple effect of positive change with over 16,000 impacted lives.
This year, we are raising the bar of this social responsibility, targeting 100,000 women, providing 500 women with free diagnostic tests, and aiding 100 women in need of surgeries.
We have a dedicated website, https://www.accessbankplc.com/sustainable-banking/csr which provides articles on fibroids, information on partner hospitals, as well as up-to-date information for individuals about the initiative”. Okoli concluded.
Reiterating Okoli’s comments, Group Head, Consumer Banking, Njideka Esomeju said, “ As part of our kick off activities to flag off the 2nd Fibroid campaign, we will be having a free Fibroid screenings and community health talk across 20 states. We will also have a webinar to listen and address women affected with Fibroids and other related health issues.
When we launched in 2022, we had a webinar addressing women affected by fibroids and in efforts to be at the forefront of public support for women’s health in Nigeria, we began the ‘Wear White Campaign’ in July last year during the Fibroid Awareness Month. In this pilot phase, the awareness and education campaign reached 17,266 women across 33 countries, with 156 women given access to proper diagnosis, assessment, and treatment recommendations.
You need to hear from our beneficiaries on how they have benefited from the project and the effects it has impacted on their lives. So we invite everyone to join us in this month for this important campaign. Together, we can make a difference in the lives of countless women by spreading knowledge, encouraging early diagnosis, and providing much-needed support”.
Hannatu Botsha, one of the beneficiaries of the health initiative shared her testimony with newsmen during the launch. In her words,” I have come back with my mouth full of gratitude, I can’t thank this Retail team enough oo. I came across the free fibroid surgery in 2022 and was reluctant to apply because I thought it was for customers only, it took me days to make up my mind and give it a trial. I got a call from Oyindamola Oyebola (one of the staff in the dedicated team)on the 9th of February 2024 to ask if I was still interested in the surgery since she sent a mail I did not respond to. I saw that call as a sign from God because I was bleeding and having pains plus feeling movements in my abdomen. I went to the hospital got all the requirements from them and after a month the doctor called me to come for an all-expense paid surgery by Access Bank Retail team (is God not wonderful?).
Surgery was done on 29th march which is good Friday for Jesus to die on our behalf, and I came out victorious and clean after all the scary gist I heard about fibroid surgery.
I have come back with my testimony and gratitude to this wonderful team. God bless you all and may your pockets never run dry IJMN.
“It has been an exciting journey for the Access staff of the Retail Banking team,” said the Project Coordinator Adeola Rojaiye, reflecting on their recent accomplishments. “It gives us immense fulfilment to witness the positive impact we’ve made in the lives of our customers, thanks to our collective efforts and unwavering commitment. For more information on how to participate and be part of this journey please follow us @project_111_official on Instagram and YouTube and visit the Project 111 website at https://www.accessbankplc.com/sustainable-banking/csr and contact us via email at [email protected] Rojaiye concluded”.
About Project 111:
Project 111 is a CSR initiative led by Access Bank’s Retail Banking Group Team dedicated to raising awareness about fibroids and providing essential support to women across Nigeria.
By Modupe Gbadeyanka
The Nigeria Revenue Service (NRS) has denied reports that customers performing financial transactions would pay a Value Added Tax (VAT) of 7.5 per cent from January 19, 2026.
Information about this emanated from messages sent out to customers of a financial institution, informing them of the new development in compliance of Nigeria’s new tax laws, especially the Nigeria Tax Act 2025.
It was claimed that Nigerians, as part of efforts of the government to generate more funds from taxes, would begin to pay VAT for the use of banking services like USSD and others.
But reacting in a statement signed by its management on Thursday, January 15, 2026, the tax collecting agency emphasised that the VAT collection for such services was not new.
It stressed that customers have always paid taxes for electronic money transfers and others, as this is charged on the fee, not from the main amount of the transaction.
“The Nigeria Revenue Service wishes to address and correct misleading narratives circulating in sections of the media suggesting that Value Added Tax (VAT has been newly introduced on banking services, fees, commissions, or electronic money transfers. This claim is categorically incorrect.
“VAT has always applied to fees, commissions, and charges for services rendered by banks and other financial institutions under Nigeria’s long-established VAT regime. The Nigeria Tax Act did not introduce VAT on banking charges, nor (sic) did it impose new tax obligation on customers in this regard.
“The Nigeria Revenue Service urges members of the public and all stakeholders to disregard misinformation and to rely exclusively on official communications for accurate, authoritative, and up-to-date tax information,” the statement read.
Business Post reports that what this basically means is that if a customer sends N10,000 and the bank charges N50 for the service, a 7.5 per cent VAT on the N50, which is N3.75, would be paid by the sender, not N750, which is 7.5 per cent of N10,000.
By Adedapo Adesanya
Nigerian-born payments company, Paystack, has announced its entry into the banking sector with the launch of Paystack Microfinance Bank (Paystack MFB) after the acquisition of Ladder Microfinance Bank.
The bank continues Paystack’s push into consumer products and adds a banking layer to its business-focused payment product, coming ten years after the company was founded with the goal of simplifying payments for businesses using modern technology.
In Nigeria alone, the company says its systems process trillions of Naira every month, supporting more than 300,000 businesses and millions of customers. According to Paystack, this growth highlighted a broader need beyond payments, prompting the decision to build a more comprehensive financial offering.
Paystack MFB will begin lending to businesses before expanding to consumers. It will also offer banking-as-a-service (BaaS) products to companies building financial products and treasury management products.
The company explained that while payments are a critical part of the financial journey, businesses and individuals increasingly require a full financial operating system. This includes the ability to store money securely, move funds easily, gain clarity from financial data, and access tools that support long-term growth. Developers, Paystack added, also need reliable, secure, and compliant infrastructure to build new financial solutions efficiently.
To address these needs, Paystack said it has established Paystack Microfinance Bank as a separate and independent entity from Paystack Payments Limited.
The new microfinance bank operates with its own license, governance structure, and product roadmap, although it will work closely with its sister company.
“By adding Paystack MFB to our family of brands, we’re finding the right balance through combining the rapid innovation of a tech-first platform with the stability of traditional banking,” said Ms Amandine Lobelle, Paystack’s chief operating officer.
Last year, it launched its controversial consumer payments app Zap, and now it is taking a step further with the company securing regulatory backing to become a deposit-taking institution. According to a statement, the bank will be guided by the same principles that shaped Paystack’s early success, including reliability, simplicity, transparency, and trust.
Paystack MFB has begun operations with a small group of early members and plans a gradual rollout to more businesses and individuals. The company also announced the opening of a waitlist for interested users and confirmed it is recruiting a dedicated team to help build its long-term banking infrastructure.
By Modupe Gbadeyanka
The Economic and Financial Crimes Commission (EFCC) has helped First Bank of Nigeria to recover the sum of N802.4 million from a suspect, Mr Kingsley Eghosa Ojo, who unlawfully took possession of over N1.3 billion belonging to the bank.
The funds were handed over the financial institution by the Benin Zonal Directorate of the anti-money laundering agency on Monday, January 12, 2026, a statement on Tuesday confirmed.
First Bank approached the EFCC for the recovery of the money through a petition, claiming that the suspect received the money into his account after system glitches.
The commission in its investigation; discovered that the suspect, upon the receipt of the money, transferred a good measure of it to the bank accounts of his mother, Mrs Itohan Ojo and that of his sister, Ms Edith Okoro Osaretin, and committed part of the money to completion of his building project and the funding of a new flamboyant lifestyle.
With the recovery of the money from the identified bank accounts, the EFCC handed it over in drafts to First Bank.
While handing over the lender, the acting Director for the Directorate, Mr Sa’ad Hanafi Sa’ad, stressed his organisation would continue to discharge its mandate effectively in the overall interests of society.
“The EFCC Establishment Act empowers us to trace and recover proceeds of crime and restitute the victim. In this case, First Bank was the victim and that is exactly what we have done.
“We will continue to discharge our duties to ensure that fraudsters do not benefit from fraud and that economic and financial crimes are nipped in the bud,” he said.
In his response, the Business Manager for First Bank in Benin City, Mr Olalere Sunday Ajayi, who received the drafts on behalf of the bank, commended the EFCC for the swiftness and the professionalism it brought to bear in the handling of the matter and expressed the bank’s gratitude to the commission.
He described the EFCC as one of Nigeria’s most effective and reliable institutions.
Meanwhile, Mr Kingsley and all other suspects in the matter have been charged to court for stealing by the EFCC.
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