Banking
First Bank Targets Single NPL Ratio by Year End
By Dipo Olowookere
It is no doubt that one of the financial institutions huge bad loans is First Bank Nigeria Limited, a subsidiary of FBN Holdings Plc.
However, the management of the lender is working tirelessly to ensure the non-performing loan (NPL) ratio of the company is cut from double-digits to a single digit.
Managing Director/CEO of First Bank, Mr Adesola Adeduntan, in an interview, said the company plans to achieve this goal by the end of this year.
“First Bank is a big entity within FBN Holdings and the largest. Part of the work stream I earlier mentioned is one that focuses on safeguarding our assets. We have done a lot of work around our risk management.
“For example, when we started this journey about three years ago, we recruited a new Chief Risk Officer (CRO), we revamped the credit risk system, we have implemented a new risk management solution and in fact we have also implemented one now that has reached a very advanced stage.
“And what you see if you have been monitoring the NPL ratio for FBN holdings, of which FirstBank is substantial contributor to that, you would see that it is a dropped materially.
“We still have some wave but we are quite optimistic that by the time we are wrapping up our current strategic cycle by December 2019, we would be single digit which is quite significant,” Mr Adeduntan said.
Speaking on other expectations of the company in 2019, the banker said, “As we move into 2019, the expectations are that things may be a bit slow on the back of the elections and given the fact that naturally, key players, especially on the fiscal side of the economy, would be focussing on re-elections.
“But post that, the projections that I have seen are all quite positive and they all speak to the fact that the expected growth should be higher than what we recorded in the course of 2018.
“For First Bank, we started a massive transformation program in 2017 and 2019 is the end of that strategic cycle. That plan is focused on transforming the entire business with the work stream focusing on the way we serve our customers and around innovation.
“There are projects around reigniting the passion of our people, there are projects around strengthening our technology platform and there are projects also around save guarding our assets which is essentially risks management.
“We are quite delighted from the progress we have made over the last two years and we believe that in the course of 2019, we would have accomplished all the critical components 2017-2019 strategic agenda.
“We are also looking forward to 2019 because with what we are doing; we have basically built a new foundation to enable our bank to run more as digital bank rather than a branch led institution.
“Today, based on what we are doing, more than 80 per cent of our customer-initiated transactions are actually carried out on alternative channels.
“That means 80 per cent of our transactions happen on Firstonline which is done online, Firstmobile which is done with your mobile phones and USSD which is done on both smart and basic phone. That for us is our star product because today we are the clear leader in that segment of the economy.
“We currently have almost 6.3 million customers processing transactions on our USSD platform. If you look at Firstmobile, we are a very close to number two, with over 2.5 million of our customers processing transactions. We process very close to 25 percent of the industry volume in terms of transactions. We are quite delighted with what we have achieved so far.
“We are basically building the foundation and we believe our next cycle would be around significant growth on the back of the fact that we have fixed the foundation and we trust the foundation that we have built that it would enable to grow rapidly and we are going into 2019 with that highly optimistic mode.”
Banking
Zenith Bank Deepens Engagement Around Women’s Empowerment, Others
By Modupe Gbadeyanka
Monday, March 9, 2026, has been fixed by Zenith Bank Plc for its annual International Women’s Day seminar in Lagos.
The event is part of activities lined up to commemorate the 2026 International Women’s Day, themed Give to Gain.
The theme prepared for Zenith Bank’s programme is Take it, You Own it, and was designed to deepen meaningful engagement around women’s empowerment, leadership, and sustainable impact.
The workshop will include segments focused on leadership insight, professional empowerment, wellbeing, and collaboration, offering attendees opportunities to engage deeply with thought leadership and practical strategies for advancing equity.
With a carefully curated programme spanning keynote addresses, panel conversations, Q and A sessions, and creative interludes, Zenith Bank’s 2026 International Women’s Day Seminar promises to be a catalyst for meaningful action.
“International Women’s Day is a reminder that progress requires intentionality.
Give to Gain speaks to the responsibility institutions have to create real opportunities, while our theme, Take It, You Own It, challenges women to step forward boldly and lead.
“At Zenith Bank, we are deliberate about building environments where women are supported to grow, thrive, and shape outcomes, not only within our institution but across the communities and industries we serve,” the chief executive of Zenith Bank, Ms Adaora Umeoji, stated.
Over the years, the lender’s International Women’s Day initiatives have brought together women leaders, professionals, entrepreneurs, and emerging talents for dynamic dialogue, inspiration, and shared learning around gender equity, professional growth, and inclusive opportunity.
More than a commemorative gathering, the 2026 seminar is designed as a convergence of influence, insight, and inspiration, bringing together accomplished women and progressive leaders across business, governance, creative industries, technology, and social impact.
Banking
Ecobank Accelerates Growth for Women Entrepreneurs With Enhanced ‘Ellevate’ Programme
By Modupe Gbadeyanka
As part of activities commemorating International Women’s Day 2026, Ecobank Nigeria has improved its multi-award-winning gender financing initiative, Ellevate by Ecobank.
Originally launched to improve access to finance for women-owned, women-led, and women-focused small and medium-sized enterprises (SMEs) within its commercial banking segment, the enhanced Ellevate programme now adopts a broader, more inclusive structure.
The new framework extends across all business segments, positioning Ellevate as a comprehensive ecosystem designed to address the structural financing and growth barriers faced by women entrepreneurs.
The upgraded programme reinforces the bank’s long-term commitment to advancing women-led enterprises in Nigeria and across Ecobank’s pan-African footprint.
Under the expanded structure, beneficiaries will enjoy improved access to credit on competitive terms, including more flexible collateral considerations aimed at easing traditional financing constraints. Beyond lending, the programme integrates digital payment, collections, and cash management solutions to enhance operational efficiency and support scalability.
A core pillar of the enhancement is structured market access. Through the bank’s MyTradeHub online matchmaking platform and e-commerce enablement capabilities, women entrepreneurs will be better positioned to connect with customers and trade partners across Africa, facilitating cross-border expansion and participation in regional value chains.
The initiative also incorporates robust non-financial support mechanisms, including targeted training programmes, leadership development sessions, and knowledge-sharing platforms to strengthen managerial capacity and long-term sustainability.
This is complemented by access to customised wealth management advisory services, integrated insurance solutions, and a loyalty framework offering commercial incentives through select retail and lifestyle partnerships.
“Since its launch in Nigeria in July 2021, Ellevate has delivered meaningful impact for SMEs and women-led businesses.
“This next phase deepens our value proposition and reinforces our resolve to remain the preferred financial partner for women entrepreneurs,” the Managing Director of Ecobank Nigeria, Mr Bolaji Lawal, said.
“African businesswomen deserve world-class banking solutions that drive turnover, profitability, and sustainable growth. Our approach goes beyond financial inclusion to building an enabling ecosystem that enhances competitiveness and long-term resilience,” he added.
He further highlighted that Ecobank Nigeria consistently hosts flagship platforms such as Adire Lagos, Oja Oge, +234Art Fair, the Lagos Pop-Up Museum, SME Bazaar, and the Design & Build Exhibition, which provide prominent opportunities for showcasing and elevating women-owned businesses.
Banking
EFCC Arraigns Two FSDH Merchant Bank Employees
By Modupe Gbadeyanka
Two employees of FSDH Merchant Bank Limited, Mr Bakare Oladimeji Surajudeen and Mr James Olukayode Imokwede, have been arraigned by the Economic and Financial Crimes Commission (EFCC).
The suspects were brought before Justice Ismaila Ijelu of the Lagos State High Court sitting in Ikeja on Tuesday, March 3, 2026.
They were accused of stealing and retaining stolen property valued at about $306,667.81 and €50,250.
The EFCC, which received a petition from the lender, said its investigations showed that the suspects processed fraudulent transfers through the SWIFT platform to third parties.
The bank said an internal audit uncovered unauthorised debits totalling $306,667.81 and €50,250, equivalent to N527.4 million from its Letters of Credit (LC) payable accounts.
At the court yesterday, after the defendants pleaded “not guilty” to all 10-count charges preferred against them, the prosecution counsel, H. U. Kofarnaisa, asked for a trial date and also prayed that the defendants be remanded in a correctional facility pending trial.
Counsel to the first and second defendants, Oluwaseun Akintunde and Olajide S. Onasanya, informed the court that bail applications had been filed on behalf of the defendants and also urged the court to grant them bail on liberal terms.
They also prayed that the defendants be remanded in the EFCC custody pending the perfection of their bail conditions.
The prosecution counsel, however, opposed the prayers of the defence seeking the remand of the defendants in the EFCC custody, saying that “the EFCC detention facilities are overstretched.”
After listening to both parties, Justice Ijelu granted the defendants bail in the sum of N2 million each, with two sureties in like sum.
The court ordered that one of the sureties must be a relative who is gainfully employed. The sureties must provide evidence of tax payment in the last three years and must show proof of livelihood, with their residences verified.
The defendants were ordered to deposit their international passports with the court, and must not travel outside the country without the leave of the court.
The judge subsequently remanded the defendants in a correctional facility pending the perfection of their bail conditions, and adjourned the matter till March 25, 2026, for the commencement of trial.
Business Post reports that one of the counts said, “That you, Bakare Oladimeji Surajudeen and James Olukayode Imokwede, sometime in 2021 in Lagos within the jurisdiction of this court, dishonestly took the sum of N527,406,916.66, property of FSDH Merchant Bank Limited.”

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