Banking
Fidelity Bank Facilitates Export Business Rudiments Workshop
By Modupe Gbadeyanka
Entrepreneurs interested in having the essential knowledge on how to sell their products in the international markets, especially in the United States and on platforms like Amazon will have the rare opportunity to enjoy this for free.
This is because a leading financial institution in Nigeria, Fidelity Bank Plc, is hosting a workshop for businesses looking to scale and expand their reach into new international markets.
The training, which is scheduled for Wednesday, April 6, 2022, in Aba, Abia State, is being put together in collaboration with Export & Sell Limited, a trade enabling platform that facilitates the listing of Nigerian businesses on Amazon as well as access to other US off-take markets.
According to the bank, the seminar is designed for businesses in the Food and Beverage; Fashion and Textile; Leather and Foot ware; Furniture and Woodwork; Art and Craft, Beauty and Cosmetic Industries, Pet Products, Building Materials; Light Equipment; as well as Chemical and Petrochemical industries.
After the training, Export & Sell will help businesses to revamp their products’ packaging, and sales literature, making sure they meet the specifications to sell on Amazon and other US outlets.
“For more than three decades, we have helped customers scale up their businesses through the right mix of financial and non-financial solutions including access to markets initiatives like our Export and Sell workshop scheduled for Aba.
“With the workshop, we aim to guide customers and prospects in developing the competence necessary for selling to the US market,” the Managing Director/CEO of Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, said.
Similarly, Mr Nduka Udeh, Managing Director/CEO of Export and Sell LLC, expressed his excitement to collaborate with Fidelity Bank on the project and commended the financial institution for the initiative.
Giving a summary of what participants are to expect, Mr Udeh explained, “The training offers a practical approach to exporting and will show businesses how to prepare the correct documentation required to export to the United States of America (USA), how to find buyers, how to list products and sell on Amazon, how to export food products and the various licenses needed as well as other aspects of exporting”.
He added that assisting businesses to export would have an enormous ripple effect across the economy by increasing the volume of export earnings.
The workshop comes to join a long list of dedicated initiatives put in place by the bank to help local businesses play on the global scale and attract foreign exchange earnings.
For instance, its Export Management Programme (EMP), which was launched in 2016 and is hosted in partnership with the Lagos Business School and the Nigerian Export Promotion Council (NEPC), equips participants with the requisite knowledge for driving non-oil exports. The bank also launched the CBN RT200 FX Policy Sensitisation series in February 2022 to highlight opportunities for importers looking to pivot to exporting with the aid of the policy.
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
