By Aduragbemi Omiyale

The N500 billion minimum capital requirement of the Central Bank of Nigeria (CBN) for financial institutions with international banking licence has been met by Fidelity Bank Plc ahead of the March 2026 deadline.

The local lender met and surpassed the new capital base after raising about N259 billion from private placement, a notice on the Nigerian Exchange (NGX) Limited revealed.

Before the latest injection of funds, Fidelity Bank raised N175.85 billion through a public offer and rights issue in 2024, bringing its eligible capital to N305.5 billion and leaving a margin of N194.5 billion to meet the new regulatory capital requirement of N500 billion for commercial banks with international authorisation.

Giving an update on its recapitalisation exercise, Fidelity Bank said it got the fresh N259 billion from the private placement after approvals from the central bank and the Securities and Exchange Commission (SEC).

It was disclosed that “it successfully opened and closed a private placement of ordinary shares on December 31, 2025.”

“The private placement was conducted pursuant to the authorisation received from the bank’s shareholders at the Extraordinary General Meeting (EGM) of February 6, 2025, to issue up to 20 billion ordinary shares by way of private placement,” a part of the disclosure said.

A few days ago, First Bank of Nigeria also met the N500 billion capital base after injections of funds from one of its main shareholders, Mr Femi Otedola, who sold his stake in Geregu Power Plc for the purpose.

By Modupe Gbadeyanka

More than N270 million have been won in grants by about 608 young Nigerian entrepreneurs in the Unity Bank Corpreneurship Challenge since its inception in 2019.

The business grants were mainly won by graduates undergoing the mandatory one-year National Youth Service Corps (NYSC).

It is part of the lender’s Youth Entrepreneurship Development Initiative designed to equip fresh graduates with the funding, confidence, and support required to launch and scale viable businesses.

The Corpreneurship Challenge provides a competitive platform where corps members pitch business ideas, assessed on originality, feasibility, market demand, scalability, and job-creation potential. Successful participants receive financial grants to kick-start or expand their ventures, alongside exposure to business guidance and mentorship.

Unity Bank implemented the scheme through the Skill Acquisition and Entrepreneurship Development (SAED) programme of the NYSC.

In the most recent edition of the Corpreneurship Challenge, held between November 18 and December 9, 2025, across 10 NYSC orientation camps nationwide, 30 youth corps members emerged as winners during the Batch C, Stream I, 2025 exercise of the programme.

They were selected from orientation camps in Lagos, Delta, Kaduna, Jigawa, Kwara, Enugu, Abia, the Federal Capital Territory (FCT), Akwa Ibom, and Plateau (Jos), after pitching innovative business ideas across diverse sectors of the economy.

Unity Bank’s cumulative investment in the Corpreneurship Challenge underscores its long-standing commitment to youth empowerment, MSME development, and job creation in Nigeria.

Speaking on the continued impact of the initiative, Unity Bank’s Divisional Head for Retail and SME, Mrs Adenike Abimbola, reaffirmed the financial institution’s belief in entrepreneurship as a catalyst for economic transformation.

“At Unity Bank, we recognise that entrepreneurship remains one of the most effective tools for tackling youth unemployment and driving inclusive economic growth.

“Through the Corpreneurship Challenge, we are not only providing financial support, but also instilling confidence in young graduates to transform viable ideas into sustainable businesses.

“Reaching over 600 beneficiaries since inception reinforces our belief in the immense potential of Nigeria’s youth,” she said.

Mrs Abimbola further emphasised the programme’s role in strengthening Nigeria’s MSME ecosystem and creating long-term economic value.

“Small and medium-scale enterprises are the backbone of any resilient economy. By supporting corps members at the earliest stage of their entrepreneurial journey, we are helping to build businesses that can create jobs, stimulate local economies, and contribute meaningfully to national development. Our focus is on impact that goes beyond grants, impact that translates into lasting livelihoods,” she added.

Since its launch, the initiative has supported youth-led businesses across value chains, including fashion, agribusiness, food processing, creative services, manufacturing, and retail. Over the years, it has become an integral part of the NYSC experience, attracting thousands of applications annually and earning national recognition for its contribution to youth empowerment.

By sustaining and expanding the Corpreneurship Challenge, Unity Bank continues to reinforce its role as a strategic partner in Nigeria’s entrepreneurial and MSME development landscape.

By Adedapo Adesanya

The Managing Director of First Bank of Nigeria Limited, Mr Olusegun Alebiosu, has said lower interest rates and the ongoing bank recapitalisation exercise would significantly boost the bank’s credit expansion in 2026.

He noted that Nigeria was entering 2026 with stronger economic momentum as reforms begin to stabilise markets, lift investor confidence and unlock new growth opportunities.

Mr Alebiosu made this disclosure while speaking at the lender’s Nigeria Economic Outlook 2026, a hybrid forum in Lagos.

He said the outlook reflected a gradual but clear economic recalibration, driven by policy discipline, financial sector reforms and renewed momentum in productive sectors.

According to him, in spite of inflationary pressures, currency realignments and external shocks, Nigeria had demonstrated resilience through innovation and structural reforms. This, he added, had positioned the economy for sustained recovery.

Mr Alebiosu said the annual forum had evolved into a strategic platform for shaping ideas, sharing insights and identifying pathways for inclusive and sustainable growth amid global uncertainty.

He reaffirmed the bank’s commitment, noting that the institution’s 131-year legacy remained anchored on supporting national development through strong capital buffers, digital transformation and effective financial intermediation.

“Nigeria’s competitiveness will depend on disciplined reforms, investment in human capital, scalable infrastructure and strong public-private collaboration,” he said.

He added that effective partnerships between government and the private sector would be critical to unlocking growth opportunities, while the forum’s sessions would offer practical guidance on managing volatility and identifying growth-driving sectors.

He said Nigeria was entering a new phase of macroeconomic stability.

The First Bank MD said this is supported by easing inflation, stronger manufacturing output and renewed investor confidence, adding that lower interest rates and the ongoing bank recapitalisation exercise would significantly boost credit expansion in 2026.

“Banks now have more liquidity and the environment is improving. Lending will naturally increase, provided we avoid reckless credit decisions,” he said.

Mr Alebiosu urged Nigerians in the diaspora to reconsider holding savings in foreign currencies, noting that returns on naira-denominated assets were increasingly outperforming foreign holdings.

“With an appreciating naira, keeping money abroad is a waste of time,” he said.

He also cited rising industrial activity and the decentralisation of power generation as key catalysts for real-sector growth, adding that falling food and fuel prices indicated easing market distortions.

According to him, stronger external reserves and rising foreign inflows have improved Nigeria’s buffers against volatile capital movements.

“If $10 billion in hot money leaves today, we can pay and not blink,” Mr Alebiosu said.

He projected economic growth of between seven and 10 per cent in 2026, including during the election period, which will buffer the sector against any crisis.

“There will be no crisis. The economy is racing, and after the election you will see accelerated growth far higher than we have ever seen,” he added.