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 Aduragbemi Omiyale
An initiative aimed to challenge business leaders and innovators to transcend current horizons has been introduced by Stanbic IBTC Bank through a thematic campaign known as There is Possible, Then There is More.
The idea is to a mindset of amplified possibility, sustained growth, and transformative partnerships, with Stanbic IBTC Bank positioned as a pivotal enabler.
With this campaign, Stanbic IBTC Bank is positioning itself as a trusted ally for Nigerian CEOs who want to do more, become more, and achieve more.
The Executive Director for Business and Commercial Banking at Stanbic IBTC Bank, Mr Remy Osuagwu, said, “As a bank, our mission is to not only meet the financing needs of Nigerian CEOs, but to inspire them to reach for more.
“We understand the challenges they face and the aspirations they hold, and we are equipped to support their ambitions, and extend them even further thereby, helping them to achieve exponential growth.”
He emphasised that, “This campaign is evidence of our commitment to being more than just a bank; we want to be the partner that propels our customers beyond their goals.
“We empower our clients with the tools and resources necessary for success by fostering collaboration and mutual growth and this proactive approach underscores our commitment to supporting business leaders and inspiring them to dream bigger and achieve greater heights in their respective industries.”
Business Post reports that the campaign officially debuted with a striking teaser, with An Open Letter to All CEOs on key digital platforms, digital out-of-home screens, and social media feeds. For days, the public speculated. This week, the letter was finally revealed—and with it, a most human and resonant message.
The Open Letter to CEOs is more than just an advertising creative campaign; it is a genuine call to action.
In it, Stanbic IBTC Bank acknowledges the resilience and achievements of Nigerian business owners even in the face of adversity. But it also dares to ask: What more could be achieved with the right support, partnership, and financial foresight?
Overall, Stanbic IBTC Bank’s vision reflects a deep understanding of the crucial role that financial institutions play in the broader economic ecosystem—one where banks serve as catalysts for growth and achievement.
From trade financing to investment advice, capacity development to transactional banking, Stanbic IBTC Bank offers a suite of solutions designed specifically to meet the evolving needs of today’s CEOs — from start-ups and SMEs to established corporations and multinationals.
By Adedapo Adesanya
The acquisition of the National Bank of Kenya by Access Bank Plc may linger a bit because securing the approval of the Central Bank of Nigeria (CBN) may be a challenge despite its Kenyan counterpart giving its blessings to the transaction.
Recall that on Monday, the Central Bank of Kenya (CBK) and the National Treasury approved the deal which will see KCB sell 100 per cent of NBK at 1.25 its book value to the Nigerian lender which had both signed an agreement for the purchase in March 2024.
Though the CBK has given its approval, the CBN also needed to authorise the acquisition for it to be completed.
Reports suggest the deal appears to have halted as the Nigerian apex bank flagged it for regulatory breaches and failure to receive proper notice.
It also said there were missing disclosures and a non-compliant structure and has asked both parties to resubmit the deal.
This development put a snag in Access Bank’s second acquisition in Kenya for the Nigerian bank after it bought Transnational Bank Limited in 2019.
Access Bank has plans to double the share of assets outside its home market by 2027 and has seen deal build on the bank’s growing operations in the Democratic Republic of Congo and Rwanda.
However, one of these may not happen as the CBN reportedly wants Access Bank to exit the Democratic Republic of Congo and shut down its London office as part of broader efforts to streamline Nigerian banks’ foreign operations.
Access Bank has been on a Mergers and Acquisition (M&A) streak across the continent, acquiring Grobank in South Africa, BancABC in Botswana and Mozambique, Diamond Bank in Nigeria, and Finibanco Angola in line with the visions of its late founder, Mr Herbert Wigwe.
It also has plans to buy Standard Chartered subsidiaries in Cameroon, The Gambia, and Tanzania (it has already completed acquisitions in Angola and Sierra Leone) as well as an 80 per cent stake in Finance Trust Bank (FTB) of Uganda which was announced in January 2024 and has gotten partial approval from Uganda’s financial authorities but has pending approval from the CBN and Bank of Uganda.
At the time of this report, both the CBN and Access Bank could not be reached by Business Post for comments on this development.
By Dipo Olowookere
Additional shares of First HoldCo Plc worth about N149.6 billion have been listed on the Nigerian Exchange (NGX) Limited.
The fresh equities were introduced to the stock exchange on Monday, April 7, 2025, to increase the total issued and fully paid-up share of the financial services provider to 41,877,841,591 ordinary shares of 50 Kobo each.
Before now, First HoldCo had a total of 35,895,292,792 ordinary shares of 50 Kobo each but this increased with the addition of another 5,982,548,799 ordinary shares of 50 Kobo each.
The new equities were from the rights issue of the organisation, which saw shareholders getting one new stock for every existing six stocks held at the close of business on Friday, October 18, 2024.
The exercise, which was oversubscribed by 25.46 per cent, was part of the strategies to meet the new minimum capital requirement of the Central Bank of Nigeria (CBN) for its banking business, First Bank of Nigeria Limited.
The banking arm of First HoldCo is in the tier one category in Nigeria and it is required to have at least N500 billion as its capital base because of its operations outside the country.
Business Post reports that the fresh 5,982,548,799 ordinary shares of First HoldCo listed on the bourse last Monday was at a unit price of N25, amounting to N149.6 billion.
Confirming this development, the NGX in a notice said, “Trading licence holders are hereby notified that additional 5,982,548,799 ordinary shares of 50 Kobo each at N25.00 per share of First HoldCo Plc were on Monday, April 7, 2025, listed on the daily official list of Nigerian Exchange (NGX) Limited.
The additional shares listed on NGX arose from First HolCo Plc’s rights issue of 5,982,548,799 ordinary shares of 50 Kobo each at N25.00 per share
“With the listing of the additional 5,982,548,799 ordinary shares, the total issued and fully paid-up shares of First HoldCo Plc have now increased from 35,895,292,792 to 41,877,841,591 ordinary shares of 50 Kobo each.”
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