Banking
Fidelity Bank Holds Export Management Programme Sept 25
By Dipo Olowookere
One of the financial institutions in Nigeria, Fidelity Bank Plc, has fixed Monday, September 25 to Friday, September 29, 2017 for the fifth stream of its Export Management Programme (EMP).
A statement issued by the lender said “EMP 5 comes heavily loaded as it is coinciding with the first anniversary of the EMP initiative which has uniquely positioned it to have woven around it, a number of the key activities already slated for the commemoration of this first anniversary of the programme.”
It further stated that the EMP 5 will, in addition to its usual focus areas, also seek to shed significant light on key policies/programmes recently released by government to boost non-oil exports and in particular, how intending exporters can take advantage of them.
Some of these recent policies include the Investors and Exporters FX Window announced by the CBN a few months back which allows exporters to sell their FX proceeds at market rates as opposed to the official CBN rate; the requirement for shippers to ensure that bills of lading in respect of exports from Nigeria carry the Form NXP number of the underlying cargo to ensure that all exports from Nigeria are carried out through the formal channels, etc.
The reputation of the EMP as the must-attend, focused capacity building programme for aspiring and existing exporters in the Nigerian market has continued to be attested to by testimonials from participants of previous streams of the programme.
For example, Fidel Buchi Anyi, an EMP 4 participant said, “This is the direction banking in Nigeria should go-Giving before asking! Strategically helping small businesses before requesting for accounts.”
It was gathered that the programme will mark its first anniversary, having been launched in 2016 as a sector focused capacity building event.
It is run by Fidelity Bank in partnership with the Pan-Atlantic University and the Nigerian Export Promotions Council (NEPC), to deliver impactful, world-class export management education to aspiring and existing players in the non-oil export sector of the Nigerian economy.
The programme which prepares participants for effective play in the international non-oil export markets in particular and the larger export markets in general, has continued to raise the bar of capacity building in exports in Nigeria.
Its unique curriculum is structured to take participants through courses bordering strategically on product development for export; developing linkages with customers in importing countries; understanding the various export processes, accompanying documentation and other requirements in Nigeria and key importing countries; export products storage; quality assurance, branding and packaging, sourcing and supply chain management, logistics and shipping, export finance, business ethics, etc.
Managing Director and Chief Executive Officer of Fidelity Bank, Mr Nnamdi Okonkwo, who gave valuable insights into the rationale behind establishing the EMP, stated that the financial institution remains highly committed to aiding the diversification of Nigeria’s monolithic economy particularly through import substitution and export promotion.
“We finance a lot of micro, small and medium enterprises (MSMEs) in Nigeria. A number of these MSMEs have strong export potentials.
“It was therefore a natural fit for us to partner with the Lagos Business School (LBS) and the Nigerian Export Promotions Council (NEPC) to make this happen given in particular, recent developments in the global oil markets and the impact they have had on the Nigerian economy,” he said.
In addition, Mr Okonkwo emphasized the need to boost non-oil exports and build sustainable non-oil exports capability which he affirmed is now at the heart of the country’s diversification strategy.
He explained that, “Exporting not only improves foreign exchange (FX) earnings, but countries most successful in exports have stronger links to wealth creation, employment generation and sustainable poverty reduction.”
By Modupe Gbadeyanka
The six edition of the Hackaholics of Wema Bank Plc has produced 20 top finalists shared equally between two streams, Ideathon and Hackathon.
The Hackathon finalists are Rapid DEV, Secure IT, Neurafeed, Trust Lock Babcock, Pulse Track, IlluminiTrust, Trust Lock FUTA, Fix Fraud AI, KASH Flow and VOC AI.
The Ideathon finalists include PLOY, Fertitude, VarsityScape, Mama ALERT, StockMed, Chao, All Arbitrate, FarmSlate, Sane AI and Cycle X.
They emerged after a two-day pre-pitch held on December 16 and 17, 2025, for the grand finale slated for Friday, December 19, 2025.
They grand finale of Hackaholics 6.0 will convene the top players in Africa’s tech and innovation ecosystem, creating an avenue for these finalists to not only put their creativity to the ultimate test but also give their solutions visibility to potential investors for additional funding opportunities beyond the prizes to be won.
The prizes to be won for the Ideathon include N25 million for the winner, N20 million for the first runner-up, N15 million for the second runner-up and N5 million each for two women-led teams.
In the Hackathon category, the first to fourth-place winners will receive N20 million, N15 million, N10 million and N5 million, respectively.
The pre-pitch saw the top 43 contenders battle in a game of innovation and problem solving, presenting compelling pitches for a chance to make it to top 10 in their respective streams.
After a rigorous stretch of pitches and presentations, the top 20 emerged, securing their spot in the grand finale of Hackaholics 6.0.
“Hackaholics started off as a hackathon and morphed into an ideation. For Hackaholics 6.0, the sixth edition, we decided to give both the builders of new solutions and the refiners of existing ones, an opportunity to make meaningful impact.
“For us at Wema Bank, we understand that innovation isn’t just building from scratch. Sometimes, it’s looking at what exists and developing new ways to optimise that and create more efficiency. This is the idea behind our two-stream Ideathon-Hackathon structure.
“Every year, Hackaholics shows us just how eager and motivated Nigerian youth are when it comes to exploring creativity and innovation, and we are honoured to be the institution that provides them with the platform and resources to put this drive to good use.
“We toured seven cities, indulged 1,460 participants and discovered hundreds of remarkable ideas; some of which needed some refining and some of which deserved to move to the next stage.
“For those who needed to go back to the drawing board, we provided useful guidance and for the top contenders, we were able to shortlist to the top 43, who proceeded to the pre-pitch. To every participant, Wema Bank is proud of you. This is just the beginning,” the chief executive of Wema Bank, Mr Moruf Oseni, said.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) says it will enforce penalties against designated banks that delay the remittance of customs revenue, in a move aimed at strengthening transparency and safeguarding government earnings.
This was disclosed in a statement on the NCS official account on X, formerly known as Twitter and signed by its spokesman, Mr Abdullahi Maiwada, who said the delays undermine the efficiency, transparency, and integrity of government revenue administration.
“The Nigeria Customs Service has noted instances of delayed remittance of customs revenue by some designated banks following reconciliation of collections processed through the B’odogwu platform,” the statement read.
“Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration.
“In line with the provisions of the Service Level Agreement executed between the Nigeria Customs Service and designated banks, the Service hereby notifies stakeholders of the commencement of enforcement actions against banks found to be in default of agreed remittance timelines.”
Mr Maiwada disclosed that any bank that fails to remit collected Customs revenue within the prescribed timeline will be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the period of the delay.
He added that affected banks would be formally notified of the delayed amounts, the applicable penalty, and the deadline for settlement.
“Accordingly, any designated bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay.
“Affected banks will receive formal notifications indicating the delayed amount, applicable penalty, and the timeline for settlement,” the statement read.
By Aduragbemi Omiyale
The deputy managing director of First Bank of Nigeria (FBN) Limited, Mr Ini Ebong, has offloaded some shares of FBN Holdings Plc, the parent firm of the banking institution.
A regulatory notice from the Nigerian Exchange (NGX) Limited confirmed the development on Thursday.
It was disclosed that the transaction occurred on Friday, December 12, 2025, on the floor of the stock exchange.
The sale involved about 11.8 million shares, precisely 11,783,333 units traded at N31.14 per share, amounting to about N366.9 million.
Mr Ebong, who studied Architecture from University of Ife and obtained Bachelor and Master of Science degrees, became the DMD of First Bank in June 2024. Prior to this appointment, he was Executive Director, Treasury and International Banking since January 2022.
He was previously the Group Executive, Treasury and International Banking, a position he held since 2016 after serving as the bank’s Treasurer from 2011 to 2016.
Before joining First Bank, he was the Head of African Fixed Income and Local Markets Trading, Renaissance Securities Nigeria Limited, the Nigerian registered subsidiary of Renaissance Capital. He also worked with Citigroup for 14 years as Country Treasurer and Sales and Trading Business Head.
He has a passion for market development and has worked actively to drive change and internationalisation of the Nigerian financial markets: foreign exchange, fixed income and securities.
He has worked closely with regulatory bodies such as the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) in assisting with the development of fresh monetary and foreign exchange policies, to broaden and deepen markets and open them up to international practices.
At various times he has facilitated and delivered courses and seminars on a wide variety of subjects covering Money Markets, Securities and Foreign exchange trading and market risk management subjects to regulators, corporate customers, banks and market participants.
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