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EFCC Drags Sterling Bank Employee to Court

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By Dipo Olowookere

An employee of Sterling Bank Plc has been re-arraigned before Justice Lekan Ogunmoye of the Ekiti State High Court sitting in Ado-Ekiti, the state capital.

The suspect, Mr Ebenezer Adeolu Alonge, who works as a cashier of the financial institution, was taken to court by the Ibadan division of Economic and Financial Crimes Commission (EFCC).

He appeared before Justice Ogunmoye alongside his wife, Mrs Isakunle Olamide Oyinlola and his mother-in-law, Mrs Isakunle Eunice Moradeke.

They are facing a 12-count charge bordering on conspiracy and stealing contrary to section 390 (9) of the Criminal Code Laws Cap 16 Laws of Ekiti State, 2012.

One of the charges said, “That you Ebenezer Adeolu Alonge ‘M’, Isakunle Olamide Oyinlola ‘F’ and Isakunle Eunice Moradeke ‘F’ between the month of January 2017 and March 2017, at the premises of Sterling Bank Plc Ado-Ekiti branch, did steal the sum of N2.4 million property of Sterling Bank, by diverting same to the personal account of Isakunle Olamide Oyinlola with account number, 0047750660 and the personal account of Isakunle Eunice Moradeke with account number 0064222881, all with the Sterling Bank, Ado-Ekiti branch, being money for Ekiti State Primary and Secondary Education Development levy, and thereby committed an offence.”

However, the defendants pleaded not guilty to the charges preferred against them.

In view of their plea, counsel to the EFCC, Adeola Elumaro, applied for a date for trial, but the defence counsel, Fasina Olayemi filed applications praying the court to admit the defendants to bail.

After hearing from counsels both parties, Justice Ogunmoye granted the defendants bail in the sum of N2 million each and two sureties in like sum. The judge noted that one of the surety shall be a government official not below grade level 12 while the other surety must be resident within jurisdiction, while the case was adjourned to February 5, 2019 for trial.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Banking

Fidelity Bank Feeds Over 1,500 Residents in Surulere Lagos

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Fidelity Bank Residents in Surulere

By Modupe Gbadeyanka

Over 1,500 residents in Surulere, Lagos State, have received food packs from Fidelity Bank Plc under its Fidelity Food Bank initiative.

The items were distributed to beneficiaries in partnership with the Office of the Personal Assistant to the President on Constituency Affairs and the Sodiq Abiodun Ogundare (SAO) Foundation.

The financial institution developed the scheme to reinforce its commitment to community welfare and sustainable development.

The Regional Bank Head for Victoria Island/Lekki at Fidelity Bank, Mr Nnamdi Edekobi, described the initiative as a reflection of the lender’s unwavering dedication to improving the well-being of its host communities.

“Today goes beyond the distribution of food items; it is about uplifting lives, creating opportunities, and strengthening our commitment to the well-being of families in this community.” Mr Edekobi, represented by the Branch Leader for Adeola Odeku Branch, Ms Ifeyinwa Asomugha, stated.

He disclosed that since its inception, the initiative has distributed more than 150,000 food packs across Nigeria’s six geopolitical zones, positively impacting hundreds of communities nationwide.

“Today’s outreach has provided over 1,500 beneficiaries with essential feeding supplies that will help address hunger, support healthy living, and improve the overall well-being of families. This initiative also aligns with the United Nations Sustainable Development Goal 2, which focuses on achieving Zero Hunger,” he added.

Mr Edekobi further commended the Personal Assistant to the President on Constituency Affairs, Ms Khadijat Kareem Omotayo, for supporting the initiative and fostering impactful partnerships that benefit underserved communities.

On her part, Ms Omotayo praised Fidelity Bank and the SAO Foundation for bringing meaningful support to residents of Surulere.

“I am very happy that the foundation is growing. Fidelity Bank are our people, and I appreciate this collaboration that has brought this massive opportunity to our people in Surulere Constituency 1,” she stated.

She expressed optimism about sustaining future partnerships with the bank to continue improving the lives and livelihoods of Nigerians.

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Banking

Entries for Wema Bank One-Day MD/CEO Children’s Day Initiative Close Wednesday

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Moruf Oseni Wema Bank Shares

By Aduragbemi Omiyale

Children and teens interested in participating in becoming the chief executive of Wema Bank for one day have till Wednesday, May 20, 2026, to submit their entries.

The One-Day MD/CEO initiative was introduced by Wema Bank in 2025 to commemorate Children’s Day in a uniquely unprecedented manner.

The winner of the maiden edition was a 12-year-old Chiderije Mbah, inspiring children across the country to put in the work towards a successful future.

Inspired by the bank’s 80th anniversary theme, 80 Years of Impact, A Future of Possibilities, the Wema Bank One-Day MD/CEO initiative served as a bridge between past and future, giving children across Nigeria the once-in-a-lifetime opportunity to become the MD/CEO of Wema Bank for one day—Children’s Day.

For the 2026 Children’s Day celebration, Wema Bank will give another child or teenager [ages 0-16] a chance to step into the shoes of the chief executive of the bank, Mr Moruf Oseni, for a day.

The child will get to oversee board meetings, make tactical decisions, and experience firsthand the demands and responsibilities that come with the office of MD/CEO, especially for an institution like Wema Bank, Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT.

To participate, children/teens are expected to record a 60-second video detailing what their ideal role in banking would be and what they hope to achieve. This video is to be posted on any social media platform using #EvolutionOfPossibilities and tagging @wemabank on the post. The post with the highest number of likes emerges as the winner, and the winner gets to become MD/CEO of Wema Bank on Monday, May 25, 2026, in celebration of Children’s Day, with parents and teens encouraged to hurry and make their submissions before the deadline.

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First Bank Introduces Naira Visa Debit Card to Ease Everyday Payments

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First Bank Sympathy Letter

By Adedapo Adesanya

Nigerian tier-1 lender, First Bank, has announced the introduction of its Naira Visa Debit Card in partnership with the global payments giant to extend accessible, reliable electronic payment capabilities to a broader segment of the Nigerian population.

The card is targeted at everyday consumers who require a dependable payment instrument for routine domestic and international transactions. Accepted across POS terminals, ATMs, and online platforms through Visa’s payments network, the Naira Visa Debit Card is designed to reduce friction for customers transitioning from cash to electronic payments across retail, utilities, and digital commerce.

According to the bank, the partnership aligns with Nigeria’s ongoing drive toward a cashless economy, a policy direction that has gained significant momentum following successive Central Bank of Nigeria directives encouraging the adoption of electronic payment channels, adding that the card is intended to serve customers across the country’s diverse economic segments.

The Naira Visa Debit Card is available to all eligible FirstBank account holders through any of the bank’s branches nationwide.

Speaking on the launch, Mr Chuma Ezirim, Group Executive, eBusiness & Retail Products, FirstBank, said: “Everyday transactions should be simple, secure, and rewarding. The Naira Visa Debit Card is designed to make life easier for our customers, whether they are paying for groceries, settling utility bills, or shopping online.

“By extending reliable electronic payment access across Nigeria, we are helping more people transition confidently from cash to digital payments, supporting the nation’s cashless policy and empowering communities with greater financial inclusion.”

Commenting on the strategic importance of the partnership, Mr Andrew Uaboi, Vice President and Cluster Head, West Africa, Visa, noted: “A strong payments ecosystem works for everyone. The Naira Visa Debit Card extends reliable electronic payment access to everyday Nigerian consumers, and this in addition to the cards in our portfolio, continues to demonstrate what a truly comprehensive card portfolio looks like for the Nigerian market. Visa is proud to power this offering with FirstBank.”

The launch of the Naira Visa Debit Card broadens Visa’s card portfolio at FirstBank, which already includes products spanning credit cards and High-end premium lifestyle spending cards. The addition completes its offering across customer segments, ensuring that cardholders at every income level have access to a product suited to their needs.

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