By Aduragbemi Omiyale

Nigerian lender, Zenith Bank Plc, is expanding its footprint in the United Kingdom, with the opening of a new branch in Manchester.

The launching of this branch is on Tuesday, March 17, 2026, with government officials from Nigeria and the United Kingdom, regulators, investors, customers, and business leaders from both countries expected to grace the occasion.

A statement from the bank said the new Manchester branch would complement Zenith Bank’s existing operations in the UK and serve as a strategic hub for supporting businesses engaged in international trade and investment.

Through the branch, the bank will provide corporate banking, trade finance, treasury and related financial services to clients operating across the United Kingdom, Europe and Africa.

Manchester, widely regarded as one of the United Kingdom’s most vibrant economic centres, hosts a diverse base of businesses across sectors such as manufacturing, engineering, logistics, technology and consumer goods.

The city’s strong commercial ecosystem and international outlook align closely with Zenith Bank’s expertise in corporate banking, structured finance and trade finance.

The Manchester branch will work closely with the company’s London operations and its broader international network to support clients seeking to expand across markets and unlock new opportunities in both the United Kingdom and Africa.

“The opening of our Manchester branch represents another important step in Zenith Bank’s growth as a leading African financial institution connecting businesses and markets across continents.

“Manchester is one of the United Kingdom’s most dynamic commercial centres, and our presence here will further strengthen financial connections between businesses in the UK and opportunities across Africa’s rapidly expanding markets,” the chief executive of Zenith Bank, Ms Adaora Umeoji, said.

Founded in 1990 by Mr Jim Ovia, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a remarkable history of year-on-year profitability.

Built on a strong foundation of people, technology and service, the lender has consistently delivered innovative financial solutions while maintaining a disciplined approach to growth and risk management.

Its impressive performance has consistently earned it excellent ratings, recognition and endorsement from local and international agencies and institutions.

Headquartered in Lagos, Nigeria, Zenith Bank operates over 500 branches and business offices across the 36 States of the Federation and the Federal Capital Territory (FCT).

The bank currently operates subsidiaries in several African countries, including Ghana, Sierra Leone, Gambia, and Cote d’Ivoire, while maintaining a presence in major international financial centres, including the United Kingdom, France, the UAE and China.

By Modupe Gbadeyanka

Ten startups have made it to the 2026 Hackaholics Accelerator cohort of Wema Bank Plc, the lender said in a statement over the weekend.

The small firms are Farmslate, Ploy, Stocmed, Feest (Chao), Varsityscape, MamaAlert, Sane, Cyclex, Kieva, and Loocomo.

They will undergo a series of training sessions led by industry experts across key areas critical to startup growth.

Facilitators for the programme include the Chief Transformation Officer, Corporate Transformation & Innovation, Wema Bank, Babatunde Mumuni; Head, Strategy & Investor Relations, Wema Bank, Femi Akinfolarin; Head, Data Transformation, Wema Bank, Olamide Jolaoso; and Team Lead, Corporate Social Investment, Wema Bank, Oluwatoyin Adetunji.

Other facilitators include the Managing Director, Impact Hub Lagos, Idowu Akinde; Managing Director, B4B Partners, Napa Onwusa; Startup Advisor and Scout, Onaopemipo Dara; Mentor at Google for Startups, Rosemond Phil-Othihiwa; Head of Growth, Africhange, Tega Ogigirigi; and Startup Advisor and Mentor, Ademola Adewuyi.

“The startups selected for this cohort already have strong foundations, with products already in market, early traction, and clear growth potential.

“Each of the selected startups brings a unique solution to real challenges across different sectors. What Hackaholics Accelerator provides is the environment to strengthen those foundations through hands-on mentorship, strategic guidance, and access to the right networks.

“Over the course of the programme, we will work closely with these founders to refine their models, deepen market traction, and prepare them for sustainable scale,” the Chief Transformation Officer at Wema Bank, Mr Babatunde Mumuni, said.

Since its launch in 2019, Hackaholics has grown into one of Nigeria’s most influential youth innovation platforms, attracting over 15,000 applicants and supporting hundreds of digital solutions across multiple industries.

Through the Hackaholics initiative, Wema Bank has disbursed over $400,000 in funding to young innovators and startup founders across Nigeria.

Startups such as Feegor, Myitura, and Bunce are among those that have participated in previous editions of the scheme.

“Over the past six years, Hackaholics has grown into more than a competition; it has become a platform that reveals the depth of innovation and entrepreneurial potential that exists across Nigeria,” the chief executive of Wema Bank, Mr Moruf Oseni, commented.

“The startups selected for this cohort represent some of the most promising solutions emerging from the Hackaholics ecosystem, and we are committed to helping them refine their models, strengthen their foundations, and scale their impact,” he added.

By Adedapo Adesanya

The Central Bank of Nigeria (CBN) has directed Nigerian banks to flag suspected fraud  Bank Verification Numbers (BVNs) after a 24-hour watchlist from May 1.

According to a circular signed by Mr Musa Jimoh, the Director of the Payment Systems Policy Department, the apex bank introduced this new policy in an amended version of the 2021 Revised Regulatory Framework for BVN and Watch-List for the Nigerian Banking Industry.

The circular titled, Addendum to the Revised Regulatory Framework for Bank Verification Number Operations and Watch-List for the Nigerian Banking Industry, disclosed that the new framework introduces four new policies which mandate Financial Institutions to establish and maintain a temporary watchlist for BVNs implicated in suspected fraudulent transactions reported by a financial institution.

The statement reads, “A BVN may remain on this temporary Watchlist for a maximum period of twenty-four (24) hours; during this period, the BVN owner shall be contacted to provide clarification regarding the identified transaction(s).”

For the BVN enrolment age requirement, the circular reads, “Enrolment for BVN is restricted to individuals who have attained the age of eighteen (18) years and above.”

For the restrictions on phone number amendments, the circular explained that updates on phone numbers linked to a BVN shall be allowed only once.

For Access to BVN data, the statement reads, “Access to the BVN databases shall be exclusively granted to Central Bank of Nigeria (CBN) licensed financial institutions. Notwithstanding this provision, the Central Bank of Nigeria (the Bank) reserves the right to approve access to the BVN databases in extenuating circumstances and in accordance with the provisions of extant laws.”

The apex bank urges financial institutions to act accordingly as implementation of the new provisions shall take effect from May 1, 2026.

Launched in February 2014 by the CBN in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), BVN was part of efforts to strengthen the security and integrity of Nigeria’s banking system amid broader banking reforms. It was introduced primarily to reduce banking fraud and identity theft, which had become widespread due to individuals opening multiple accounts under different identities across banks. By assigning each customer a unique biometric-based identification number linked to fingerprints and facial data, BVN ensures that all accounts belonging to a person across Nigerian banks can be verified and traced.

The system also improves the effectiveness of banks’ Know Your Customer (KYC) procedures, enhances transparency in financial transactions, and supports regulatory oversight within the financial sector.