Banking
Fidelity Bank Enables Account Opening via Quick Response Code
By Dipo Olowookere
A new first has been scored by Fidelity Bank Plc with a new account opening initiative that enables members of the public to open online savings accounts through a Quick Response (QR) code which can be scanned from any of the promotional materials such as roll up banners, fliers, posters and newspaper adverts.
This novel account opening initiative was launched on Monday, October 8, 2018 by the Nigerian lender known for outstanding ideas.
Also, the financial institution has come up with a new savings promotion campaign aimed at rewarding new and existing customers of the bank.
This is expected to significantly ease the process of enrolment of new accounts and deepen the penetration of the new savings promo tagged Get Alert in Millions Season 3.
During the launch of the initiative, Fidelity Bank’s Executive Director in charge of Shared Services and Products, Mrs Chijioke Ugochukwu, explained that, “This new savings promo is the 8th in 11 years. As with the previous ones, we are motivated to continue to empower our customers by rewarding them with cash and gift items, whilst at the same time promoting the savings culture, in line with the financial inclusion drive of the Central Bank of Nigeria (CBN).”
Speaking shortly before formally flagging off the promo, Fidelity Bank CEO, Mr Nnamdi Okonkwo, thanked customers, stating that the bank is motivated to continue to incentivize them for their patronage.
He said it was imperative to acknowledge the contributions of customers to the growing fortunes of the bank.
“Last week, we joined other institutions across the world to observe the 2018 Customer Service Week and I want to use this opportunity to again thank all our customers. Our impressive half year results attest to your support and with your continued patronage, we are on course to delivering on our financial targets for the year,” the bank chief said.
As a customer-centric bank, Mr Okonkwo said Fidelity Bank would continue to leverage technology, in line with its digital retail strategy, to better serve customers, through innovative products, services and solutions.
He reeled our some of the products to include the newly upgraded Fidelity Online Banking, *770# Instant Banking and Flashkey.
“Our online banking solution enables you to transfer foreign exchange seamlessly just as we are the first bank to introduce a chat banking solution that is known as Flashkey.
“This solution enables you to effect monetary transfers whilst on any social media platform, without recourse to the online banking platform installed on your mobile device,” he stated.
GAIM Season 3, as the new savings promo is called, is expected to run for 9 months till June 2019. The bank, within this period will give out over N120 million in cash and consolation prizes, including weekly airtime rewards.
To participate, Head, Retail Banking, Fidelity Bank, Mr Richard Madiebo, said “customers can open a savings account and grow it to N20,000 or top up an existing account with N10,000 or more to qualify for the monthly draws to win N1 million or N2 million.
To qualify for the star prize of N3 million, he explained that customers are expected to grow their account balances by N50,000 monthly whilst accounts that maintain a minimum of N200,000 qualify for the grand prize of a whooping N10 million.
“As a bank with branches across the country, the draws ceremonies will be done to ensure that everybody, irrespective of where their accounts are domiciled, stand equal chances of winning” he explained.
There will be a total of six draws to produce 77 cash and 108 consolation prize winners over the duration of the exercise.
The launch ceremony had in attendance the press, regulatory bodies and some winners from previous savings promotion campaigns.
Mr Gaffar Abdullateef, a previous winner, thanked Fidelity Bank for the N3 million he won in the last promo, saying that it “significantly gave boost to his business.”
Assistant Director, National Lotteries Regulatory Commission, Ms Joy Okuna, praised Fidelity Bank for the transparency displayed in the last promos.
“As regulators, our duty is to ensure that promos are conducted transparently and I must attest to the high degree of transparency that we see with all Fidelity Bank savings campaigns and we expect no less from this,” she stated.
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.
