Banking
Brandishing Stanbic IBTC’s Impressive Gender Equity Scorecard
Recently, Stanbic IBTC Holdings Plc announced the promotions of several of its women to top executive roles across the Stanbic IBTC Group.
These included the promotions of Wunmi Ehis-Uzenabor as Executive Director, Operations, Stanbic IBTC Asset Management; Busola Jejelowo as Executive Director, Investments, Stanbic IBTC Asset Management; Emi Agaba-Oloja, Executive Director, Stanbic IBTC Trustees; and Sakeenat Bakare, Executive Director, Business Development, Stanbic IBTC Insurance.
These promotions, which were in line with Stanbic IBTC’s corporate governance structure and succession policy, further showcased the financial institution’s posture as an equal opportunity organisation.
Both male and female employees are privileged to rise as far as their skills, talents, and dedication permit them.
Stanbic IBTC has always been forward-looking in terms of its recruitment and succession policies, having held the belief that females are as talented as their male counterparts and can contribute immensely to businesses and the society’s growth if given equal opportunity. The belief was underscored at the commencement of operations by Stanbic IBTC many decades ago.
Over 30 years ago, when Atedo Peterside conceived the idea to establish an investment bank, one that would be matched as the best in the industry, and transform the investment and corporate banking landscape in years to come, he realised the importance of engaging the best hands and minds.
He set to work to achieve that and opted for a gender-balanced workforce as he employed as many females as males in senior management roles.
Sola David-Borha was appointed Head, Credit and Marketing Department; Oluwande Muoyo was appointed head of the Treasury and Financial Services Department; and Angela Omo-Dare became the Company Secretary and Head, Legal Services of legacy IBTC.
These appointments were against the grain. At that time, the financial services industry, particularly the investment and corporate banking sector was male-dominated, with C-suite and D-level executives being mostly men.
Atedo was, however, determined to redefine the industry, and he knew that only the best would help him achieve his objectives, irrespective of gender.
Thus, he built a reliable team consisting of both male and female players. The tradition was established at the commencement of the business to give both genders equal opportunity in recruitment, on-the-job training, human capital development, promotions, and remuneration.
His foresight was handsomely rewarded. In five short years, legacy IBTC had become the leading investment and corporate banking company in the country and successfully displaced industry giants in merchant banking of that era.
More than 30 years later, and having gone through a series of transformations, including mergers and becoming a holding company, Stanbic IBTC still maintained that equal opportunity legacy.
Employees of the organisation are exposed to quality and regular training to update their knowledge and skills, starting from its graduate training academy. New intakes are exposed to the institution’s work ethics, core values and executive training programmes here in Nigeria and overseas.
Sola David-Borha rose through the ranks to become the Chief Executive of the bank and later of the Holding Company before moving on to a higher role with the mother brand, Standard Bank Group.
Yewande Sadiku rose to become Chief Executive of Stanbic IBTC Capital, the group’s investment banking arm and later Executive Director, overseeing Corporate and Investment Banking at Stanbic IBTC Bank PLC before she took up a government appointment.
Bunmi Dayo-Olagunju was also Chief Executive of Stanbic IBTC Asset Management before becoming the Executive Director, Operations of the bank.
Other top females in the group included the Chief Executive of Stanbic IBTC Stockbrokers, Titi Ogungbesan; an Executive Director with the pension subsidiary, Nike Bajomo; Oyinda Akinyemi and Olusola Carrena as Executive Directors in Stanbic IBTC Capital, among others.
Today, the Stanbic IBTC workforce is highly symbolic, with 57 per cent men and 43 per cent women.
This legacy has continued to help the business attract and retain the very best. The benefits have been immense in terms of growth as staff show a rare dedication to duty and a hunger to help transform the Stanbic IBTC brand into the leading end-to-end financial services institution in the country.
The commitment has consistently been reflected in the Group’s market share across the gamut of the financial services industry and the institutions’ bottom line.
Over 30 years later, Stanbic IBTC had remained at the forefront of gender equality and inclusion, as shown by its employment and succession legacy. But more importantly, it continued to demonstrate its belief in a gender-balanced representation in all areas of society through women-focused initiatives. In 2020, for instance, it temporarily changed its logo colour from blue to magenta to celebrate the UN Women HeForShe brand.
Stanbic IBTC has created an environment where women feel appreciated and are rewarded accordingly. “For us, achieving gender inclusiveness is not only a fundamental human right but also a business imperative,” said Sogunle.
By Modupe Gbadeyanka
About N2 billion is expected to be used to finance renewable energy products for customers by the end of 2026 in an effort to accelerate Nigeria’s clean energy transition.
To meet this goal, Sterling Bank is launching Sterling Solar Financing Hubs inside StarTimes retail outlets to embed on-the-spot solar financing at the point of purchase.
From the N2 billion earmarked for this initiative, N600 million has already been used up.
Under this programme, customers can now walk into participating outlets, select their preferred solar solution, receive financial guidance from dedicated Sterling Solar Financing Advisors, and begin the financing process immediately, subject to the bank’s credit assessment.
The first phase of the rollout commenced this July with five Solar Financing Hubs across Lagos, located in Lekki, Ikeja, Festac, Surulere, and Victoria Island.
The network will expand rapidly to 46 StarTimes outlets nationwide before the end of the third quarter of 2026, with a view to extending the model to more than 200 StarTimes locations nationwide.
Both parties have promised to continue working together to democratise access to clean energy financing, empowering more Nigerians to solarise their homes and businesses while contributing to a greener future.
“Sterling exists to enrich lives, and we believe that access to clean, reliable energy should be within everyone’s reach. Through this partnership with StarTimes, we are democratising access to solar by bringing financing directly to the point of need, enabling more families and businesses to transition to sustainable energy without the burden of prohibitive upfront costs. This is about unlocking opportunity, improving livelihoods, and powering Nigeria’s future,” the Divisional Head of Renewable Energy and Mobility at Sterling Bank, Mr Darlington Nwankwo, said.
Also commenting, the Vice President of StarTimes Nigeria, Mr Eric Xiao, said, “With the rollout of the Sterling Solar Financing Hubs, we are doing more than just selling solar products; we are building a sustainable energy ecosystem. By integrating StarTimes’ extensive service network with Sterling Bank’s professional financial services, we are significantly lowering the barrier for Nigerian households and small businesses to access clean energy.
“Moving forward, we will continue to deepen this partnership, ensuring that more Nigerians can enjoy reliable, affordable, and smart energy solutions, ultimately turning our vision of energy accessibility into a reality for all.”
By Modupe Gbadeyanka
The Nigeria Business Summit Regional Tour of Stanbic IBTC Bank made a detour to Jogor Centre, Ibadan, Oyo State, on Wednesday, July 15, 2026, to empower Micro, Small, and Medium Enterprises (MSMEs).
The event brought together business leaders, development partners and government representatives to discuss pathways for sustainable enterprise development across the South-West.
Participants engaged in practical masterclasses on export opportunities; access to finance and business growth strategies; gaining actionable insights into market expansion; trade documentation; credit readiness; financial record-keeping; and structured financing solutions designed to support long-term business success.
The Head of Enterprise Banking at Stanbic IBTC Bank, Ms Olajumoke Bello, informed participants that the programme is part of the lender’s commitments to supporting MSMEs through practical business education, strategic partnerships and improved access to growth opportunities.
The Executive Director of Business and Commercial Banking at Stanbic IBTC Bank, Mr Remy Osuagwu, on his part, said, “Our ambition is to be more than a financial institution to Nigerian businesses. We want to be a trusted growth partner, providing the financing, business insights and advisory support entrepreneurs need to build sustainable enterprises and unlock new opportunities.”
Similarly, the chief executive of Stanbic IBTC Bank, Mr Wole Adeniyi, who reinforced the company’s commitment to enterprise development, highlighted the importance of providing businesses with the right support structures to enable sustainable growth and long-term competitiveness.
“At Stanbic IBTC, we believe that sustainable economic growth depends on the success of small and growing businesses. That is why we are focused on providing access to finance, practical advisory support and the connections businesses need to move from ambition to scale,” he stated.
The Oyo State Commissioner for Investment, Trade, Cooperatives, and Industry, Professor Soliu Adelabu, said the initiative was designed to support businesses and strengthen the state’s entrepreneurship ecosystem, praising the bank for its support for traders, entrepreneurs, and artisans in the state.
The Permanent Secretary in the Oyo State Ministry of Women Affairs and Social Inclusion, Mrs O.M. Shotonwa-Roagess, highlighted the importance of strategic partnerships in expanding economic opportunities for women and vulnerable groups across Oyo State. She noted that the ministry remains open to collaborating with organisations such as Stanbic IBTC, development partners and the private sector to drive financial inclusion, entrepreneurship and sustainable economic empowerment.
The Nigeria Business Summit Regional Tour forms part of Stanbic IBTC’s broader commitment to empowering entrepreneurs through capacity building, financial inclusion and strategic business support, helping enterprises unlock new opportunities for growth and long-term success.
The Ibadan leg built on the momentum of previous tour stops in Katsina and Aba.
By Adedapo Adesanya
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, says Nigeria anticipates remittances from citizens living abroad to increase by two-thirds in 2026 as it seeks to bolster its foreign-exchange reserves to $1 billion monthly.
“We are expecting that by the end of the year, we will hit about a billion Dollars a month from diaspora remittances,” he said at the 14th Annual BusinessDay CEO Forum in Lagos on Thursday, themed From Stability to Shared Prosperity.
Mr Cardoso said remittances are expected to be boosted from more than $600 million currently, banking on the CBN’s deliberate target at remittances to diversify reserve sources beyond oil earnings.
According to him, the apex bank engaged Nigerians abroad, banks and international partners to identify barriers to official remittance flows.
He said the lender subsequently reviewed policies to ensure easier movement of funds into and out of the country.
Mr Cardoso described the approach as providing free entry and free exit for foreign exchange.
He said the reforms helped double diaspora inflows within one year and exceeded initial expectations, also projecting annual remittances could reach about $8 billion if the current momentum was sustained, adding that the development reflected growing confidence in Nigeria’s financial system and foreign exchange market.
Mr Cardoso said reforms introduced by the apex bank had restored stability in the foreign exchange market and improved investors’ confidence.
He identified exchange rate unification as one of the central bank’s major achievements under the reforms programme.
According to him, replacing multiple exchange rate windows with a market-driven system eliminated distortions and improved transparency.
Mr Cardoso said improved foreign exchange liquidity and stronger reserves were among the gains from the reforms.
He said Nigeria’s net external reserves had risen from about $3 billion at the start of the reforms to above $40 billion currently, noting that gross external reserves had grown to about $52 billion, representing about 10 months of import cover.
According to him, the reserves are designed to shield the economy from external shocks and excessive market volatility.
He said the reserves were not meant for routine interventions or day-to-day exchange rate management.
