Banking
Banker Highlights Role of Cash Management in Business Operations
By Modupe Gbadeyanka
A senior banker with Stanbic IBTC Bank Plc, Ms Ojinika Shote, has explained the role cash management plays in the daily operations of a business enterprise.
Ms Shote, who is the Head of Cash Management at Stanbic IBTC Bank, said in an interview that if a business intends to survive for long, it must pay attention to cash management.
She defined cash management as the effective planning, monitoring and management of an organisation’s liquid or near liquid resources.
According to her, being a treasury management function, it entails day to day cash control, ensuring the organisation has enough cash/liquid resources to meet short-term obligations in the applicable currencies, having an efficient bank account structure that facilitates easy and secure payments and quicker collection of receivables.
“When it comes to running any successful business, whether local or international, cash flow is key. An organisation may be profitable but without cash resources available to run its daily operations, it will not survive for long,” the banker said.
Speaking further, Ms Shote said the cash management space continues to evolve and remain a critical aspect of transactional banking with technological and process advancement.
“We have seen a transition from physical cash solutions, use of cheques and automated clearing house solutions to faster and safer cash management solutions using digital channels for delivery of these solutions, for electronic payments and collections, instant payments and automated reconciliation for business purposes.
“This transition has gradually reduced the risk associated with cash which organisations have had to bear over time and while these risks are not eliminated, they are being reduced to more manageable levels,” she said in the interview.
The financial expert noted that organisations require useful information and actionable insights to support cash flow forecasting, business planning and strategic decision making, adding that banks provide useful data points and analytics that equip the firms to identify and take advantage of new business opportunities.
According to her, Stanbic IBTC is committed to supporting sustainable business in Nigeria, noting that the banking principles of the lender provide a framework for ensuring that the future of banking is created by aligning its strategy and business with the vision for a better society.
“This is evident in our partnership with the World Health Organisation (WHO) on the Direct Disbursement Mechanism (DDM), a payment project to support volunteers, mostly indigenes of the rural communities who participate in the implementation of the polio vaccination rounds that take place across the nation.
“Without stipends successfully paid to these volunteers, the DDM project would have been threatened and this amazing milestone of achieving a Polio-Free-Status would have not been met,” she said.
“It is our honour to be the banking partner that supported the WHO and the federal government of Nigeria in achieving this remarkable feat, despite complexities around logistics, planning and managing operations at the grassroots level,” Ms Shote added.
Banking
UBA, NiDCOM to Unlock Diaspora Capital for Nigeria’s Growth
By Modupe Gbadeyanka
A partnership aimed to unlock diaspora capital for Nigeria’s growth has been deepened by the United Bank for Africa (UBA) Plc and the Nigerians in Diaspora Commission (NiDCOM).
The chief executive of UBA, Mr Oliver Alawuba, underscored the diaspora’s critical role as a powerful economic force and a generation of builders shaping new narratives for the continent.
He also reiterated the financial institution’s readiness to leverage its global network and innovative financial solutions to support diaspora engagement, urging Nigerians abroad to tap into opportunities within Africa’s economic landscape.
“You are not limited here; you have opportunities on the continent, and we want you to make good use of them. That is where banking, and we at UBA, become the connecting point that you need to access the opportunities back home.
“Whether you like it or not, the returns are high in Africa, and we are here to help you navigate that space,” the UBA chief said on Monday when he hosted key representatives of NiDCOM led by its chairman, Mrs Abike Dabiri, at the bank’s office in the United Kingdom.
UBA recently launched a Diaspora Banking platform to provide a seamless, integrated platform for Africans in the diaspora to bank, invest, and manage their financial obligations back home, thus connecting global Africans with investment and wealth opportunities.
The lender introduced the platform, with leading ecosystem partners representing a major step in redefining diaspora banking beyond remittances toward structured wealth creation and long-term investment.
“With UBA, you have a financial partner that is with you, that understands what you are going through, and that can support you to make sure you realise your aspirations, both here and in the country,” Mr Alawuba noted.
In her remarks, Mrs Dabiri-Erewa praised UBA for being a trusted financial partner over the years, especially with the recent launch of its diaspora platform.
“Many of you here are the real game-changers. “For years, it has been wonderful engaging Nigerians all over the world. When I started, it felt like we only heard the bad stories, not the good ones. What we have tried to do internationally is to tell and celebrate the good stories. We have Nigerians doing well all over the world, and they are in this room. We must continue to celebrate you,” she stated.
While remarking that the meeting demonstrates a significant step in aligning public and private sector efforts to deepen diaspora inclusion and accelerate Nigeria’s development agenda, she pledged closer collaboration in driving policies and initiatives that encourage Nigerians abroad to actively participate in the country’s economic growth.
Banking
Ecobank’s Enhanced Ellevate Initiative Excites Women Entrepreneurs
By Modupe Gbadeyanka
The launch of the Enhanced Ecobank Ellevate Proposition (Ellevate 2.0) in Lagos has been welcomed by women entrepreneurs.
Ecobank Nigeria, a subsidiary of the pan‑African financial services group Ecobank Group, unveiled the upgraded programme at an event themed Her Voice. Her Power. Her Growth. The initiative was designed to support women‑owned businesses.
The gathering featured inspiring conversations and practical insights from accomplished women in business and professional leadership.
In her keynote address titled The True Woman Power: Strength Rooted in Identity, Resilience and Purpose, the founder of Gatimo Limited and Creative Director of Ruff ‘n’ Tumble, Mrs Adenike Ogunlesi, praised Ecobank for its longstanding support for women entrepreneurs.
“When I was seeking a loan facility many years ago to grow my business, Ecobank was the institution that supported me when others turned me down,” she shared, encouraging women to embrace self-awareness, resilience, and purpose as the drivers of long‑term success.
The panel session featured the chief executive of Strata Advisory, Ms Bode Abifarin; the chief executive of Village Farms Commerce and Exchange, Ms Titilayo Adesoga; and the founder of Beaty Hut Africa, Ms Subuola Oyeleye, who each shared powerful reflections from their personal and professional journeys.
Drawing from her extensive leadership background, Ms Abifarin highlighted the need for women to own their transitions and step confidently into new seasons.
On her part, Ms Adesoga encouraged women to rise above limitations by taking ownership of their personal and business narratives, as Ms Oyeleye highlighted the importance of authenticity, innovation, and investing in quality, reinforcing that women can build globally competitive businesses from Nigeria.
In her welcome speech, the Head of Premier Banking and Wealth Management at Ecobank Nigeria, Ms Ayo Osolake, who represented the Managing Director/Regional Executive, Mr Bolaji Lawal, said, “Ellevate by Ecobank reflects our unwavering commitment to supporting women entrepreneurs, who remain key drivers of economic growth, innovation, and job creation.”
Ellevate Manager for Ecobank Nigeria, Ms Victoria Igun, said, “This enhanced proposition creates stronger pathways for women entrepreneurs and professionals to build sustainable businesses and translate ambition into lasting impact.”
Banking
Zenith Bank Plans London Stock Exchange Listing in 2027
By Adedapo Adesanya
Nigerian tier-1 lender, Zenith Bank Plc, plans to list on the London Stock Exchange in 2027 to broaden access to capital and strengthen client services.
“There are a lot of deals we have on the table to finance across the United Kingdom and other countries, for which we need to raise more capital,” a bank official said on Tuesday, as per Bloomberg, since Zenith didn’t disclose additional details of its plan.
The move will make Zenith Bank the second Nigerian lender to list on the United Kingdom’s major exchange, following Guaranty Trust Holding Company (GTCO) Plc.
Zenith Bank, which is Nigeria’s second-largest lender by market value, has opened a branch in Manchester today in addition to the operation it already has in London.
The Manchester branch has the capacity to create up to 30 new direct jobs, a boost for the economy of the UK’s North West region.
The chief executive of Zenith Bank, Ms Adaora Umeoji, said, “The United Kingdom remains a key global financial centre. The opening of Zenith Bank, Manchester, therefore, marks another important milestone in our international expansion strategy, enabling us to deepen relationships with our customers, support trade and investments, and connect businesses between Africa and the UK more effectively.”
Last year, the bank raised its capital above the N500 billion minimum requirement set by the Central Bank of Nigeria (CBN), and announced plans to expand in francophone West Africa.
Founded in 1990 by Mr Jim Ovia, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a remarkable history of year-on-year profitability.
Headquartered in Lagos, Nigeria, Zenith Bank operates over 500 branches and business offices across the 36 States of the Federation and the Federal Capital Territory (FCT).
The bank currently operates subsidiaries in several African countries, including Ghana, Sierra Leone, Gambia, and Cote d’Ivoire, while maintaining a presence in major international financial centres, including the United Kingdom, France, the UAE and China.
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