Banking
ECOWAS, Ecobank Organise Solar Energy Training for 100 Entrepreneurs
By Aduragbemi Omiyale
At least 100 entrepreneurs in Lagos and Abuja gathered recently for a training backed by the Economic Community of West African States (ECOWAS), in collaboration with Ecobank Nigeria and the World Bank.
The off-grid photovoltaic solar energy workshop was part of efforts of the organisations to make electricity accessible to many citizens.
It was gathered that the training was also to ensure that stakeholders in the small and medium-sized enterprises (SMEs) sector get alternative power supply.
This initiative forms part of the Regional Off-Grid Electricity Access Project (ROGEAP), which seeks to promote the development of a regional market for standalone solar energy systems.
ROGEAP is funded by the World Bank, with additional support from the Clean Technology Fund (CTF) and the Directorate General of International Cooperation (DGIS) of the Government of the Netherlands.
At the three-day Entrepreneurship Business Training held in Lagos, the Senior Adviser at the ECOWAS Commission’s ROGEAP, Mr El Hadji Sylla, noted that Nigerian SMEs have already benefited from grants totalling $800,000 under the project, aimed at increasing participation in the off-grid solar energy value chain.
Mr Sylla explained that the capacity-building workshops, conducted in both Abuja and Lagos, were designed to enhance the technical and financial capabilities of SMEs focused on solar energy. The objective is to better position these businesses for growth and long-term sustainability in the renewable energy sector.
He also stated that ECOWAS is in discussions with Ecobank Group to establish mechanisms that would allow the bank to offer both technical and financial support to SMEs in the solar energy ecosystem. This includes extending direct credit lines to eligible businesses.
According to him, the first component of ROGEAP—led by the ECOWAS Commission—centers on the creation of a strong regional market for off-grid solar solutions. A key strategy involves equipping SMEs with the skills to develop technically sound and financially viable projects that meet commercial lending standards.
“This year, we have worked closely with Ecobank Nigeria to align solar-focused SME portfolios with the bank’s financing requirements.
“Our goal is to ensure that the submitted projects are not only technically feasible but also bankable,” Sylla said.
Also speaking at the event, Salamatu Baba Tunwzang, Team Lead at ROGEAP’s Entrepreneurship Support Facilities, emphasized that the program goes beyond technical training. She highlighted that participating SMEs are also being prepared to access ROGEAP grants and other funding opportunities.
“When businesses join our network, they gain access to both technical assistance and financial resources,” she said. “We also build the capacity of technical installers, who can equally benefit from these opportunities. It’s a comprehensive support system—they receive funding, technical training, market intelligence, and valuable networking opportunities for collaboration.”
In his remarks, Managing Director of Ecobank Nigeria, Bolaji Lawal, reiterated the vital role SMEs play in driving economic sustainability and inclusion. Represented by Otega Aghogho Odjegna, Regional Head for the Apapa-Isolo Region, Lawal described SMEs as the “lifeblood of any economy,” pointing out that they contribute over 80 percent of employment across West Africa.
He further noted that this initiative aligns with Ecobank’s ELLEVATE program and the Single Market Trade Hub, both of which aim to equip SMEs with tailored financial solutions, digital tools, and strategic insights to help them scale and compete in broader markets.
By Modupe Gbadeyanka
About N3.6 trillion has been repaid to the Central Bank of Nigeria (CBN) by the Asset Management Corporation of Nigeria (AMCON) since its inception in 2010.
This information was revealed by the chief executive of AMCON, Mr Gbenga Alade, during a media parley to update the press on the activities of the agency.
Mr Alade said at the moment, the organisation still owes the central bank about N3 trillion for toxic assets of banks in the country.
He praised the organisation for its asset recovery drive, stressing that when compared with others across the world, Nigeria has done well.
“It is important to stress that the corporation has done tremendously well, especially when compared to other notable government-owned Asset Management Corporations around the world.
“Based on the balance at purchase, AMCON outperformed other Asset Management Corporations all over the world by achieving over 87 per cent in recoveries despite the unique challenges associated with debt recovery in Nigeria.
“The Malaysian Danaharta, which is adjudged one of the best performing Asset Management Corporation’s, only achieved 58 per cent. The Chinese Asset Management Corporation, despite its stricter laws, achieved just 33 per cent.
“Only the Korean Asset Management Corporation (KAMCO), South Korea, has achieved more recoveries than AMCON, with about 100 per cent. This was due to their brute force with which they chased the obligors.
“Despite KAMCO’s recovery records, the agency is still operational to date with slight realignments in its mandate.
“Other noted Asset Management Corporations that have transitioned into a perpetual institution of the various governments include, China Asset Management Company, Federal Deposit Insurance Corporation (FDIC) USA, and KFW Germany.
“So, gentlemen, without sounding immodest, AMCON has done well, and we will not relent until all the outstanding debts are fully realized,” Mr Alade stated.
On the financial performance of AMCON, he said last year, the firm posted a revenue of N156.25 billion and operating expenses of N29.04 billion, while for the 2025 fiscal year should be a revenue of N215.15 billion and operating expenses of N29.06 billion.
By Modupe Gbadeyanka
One of the non-interest banks in Nigeria, The Alternative Bank (AltBank), has opened a new branch in Effurun, Delta State.
The new office will serve the Edo-Delta region and provide purposeful banking and real financial empowerment for individuals, entrepreneurs, and businesses, a statement from the firm stated.
The lender disclosed that the Effurun branch is a bold move in its mission to reshape banking in Nigeria.
The launch was graced by key dignitaries, including the Ovie of Uvwie Kingdom, Emmanuel Ekemejewa Sideso Abe I; the Chairman of Uvwie Local Government, Anthony O. Ofoni, represented his vice, Andrew Agagbo; and the Special Adviser to the Governor of Delta State on Community Development, Mr Ernest Airoboyi; amongst others.
The Divisional Head for South at The Alternative Bank, Mr Chukwuemeka Agada, emphasised the institution’s commitment to Warri and its surrounding communities.
“By establishing a presence here, we are initiating a transformation in the way banking serves the people of Delta. Our purpose-driven approach ensures that customers’ financial goals are not just met but exceeded,” he stated.
“This branch represents our pledge to empower Warri’s dynamic businesses and families, providing them with the tools to grow without compromise,” Mr Agada added.
“We understand the heartbeat of this community, and we are excited to integrate our bank into the fabric of this dynamic region,” he stated further.
On his part, the representative of the Ovie, Mr Samuel Eshenake, challenged the bank to facilitate development and employment within the Effurun community.
The Regional Head for Edo/Delta at The Alternative Bank, Mr Akanni Owolabi, embraced this challenge, pledging that the bank will work sustainably to drive local commerce.
“At The Alternative Bank, we are committed to being an active partner in the development of Effurun. We see this branch as a catalyst for creating opportunities, driving employment, and supporting the growth of local businesses.
“Our mission is to empower this community, ensuring that every step forward is one of progress, prosperity, and shared success.”
By Aduragbemi Omiyale
A partnership aimed to enable seamless, real-time and secure transactions for cardholders across Africa and the rest of the world has been entered into by Payattitude and PAPSSCARD, the card scheme initiative of the Pan-African Payment & Settlement System (PAPSS).
The collaboration will allow Payattitude cards issued by banks and other deposit-taking institutions to be co-branded with PAPSSCARD, Discover, Diners and Pulse for acceptance across their networks in Nigeria, Africa and worldwide.
As an initiative of the African Export-Import Bank (Afreximbank) and a key financial infrastructure supporting the African Continental Free Trade Area (AfCFTA), the PAPSSCARD scheme will facilitate instant cross-border payments in local currencies.
“This partnership reflects our commitment to cross-enterprise alliances and enabling inclusive, efficient, and borderless payments across Africa and the world
“With Payattitude, Nigerian cardholders and financial institutions can now enjoy the benefits of a Nigerian card that can be used worldwide,” a director at Payattitude, Dr Agada Apochi, said.
The acting chief executive of PAPSSCARD, Mr John Bosco Sebabi, said the aim is “to connect African payment ecosystems, reduce the cost and inefficiencies of cross-border payments, and strengthen African sovereignty over payments infrastructure.
“Collaborating with Payattitude, a key innovator in Nigeria’s payment space, represents a significant step towards a more unified African payment landscape.”
The chief executive of PAPSS, Mr Mike Ogbalu, said, “By bringing together PAPSSCARD’s robust cross-border payment capabilities with Payattitude’s leadership in the Nigerian digital payments, we are taking tangible steps toward building a single African market where individuals and businesses can transact easily and securely, both within and beyond Africa.”
Payattitude is the first-in-kind Nigerian Payment Scheme to pioneer multibank App and USSD Code *569#.
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