Banking
Heritage Bank Empowers 2000 Female Entrepreneurs
Taking into consideration the importance of Micro, Small and Medium Enterprises (MSMEs) to the economy, Heritage Bank Plc has continued to structure financial inclusivity initiatives in empowering over 2000 female entrepreneurs towards economic enablement and self-realization.
This move is in line with the people-oriented policies of the Central Bank of Nigeria (CBN), Heritage Bank Plc is partnering with a Non-Governmental Organization, Prime Women Builders Foundation of Nigeria (PWOBFON) in providing skills training to the female entrepreneurs.
At the graduation ceremony/ certificate award ceremony held at Ikeja Local Government headquarters over the weekend, the MD/CEO of Heritage Bank, Mr Ifie Sekibo, said the bank is keen in cultivating real partnerships with Micro, Small and Medium Enterprises (MSMEs).
Mr Sekibo, who was represented by the Head, Brand Management & Sustainability Ozena Utulu explained that the lender is interested in initiatives that encourage people to start their own businesses and gradually grow them into conglomerates.
According to him, the partnership with PWOBFON is vital in many ways particularly in the area of job creation, economic empowerment and financial inclusion.
His words, “Apart from skills training, the women have been told the importance of record keeping in business, savings culture and the benefits of having bank accounts as a gateway to accessing other financial services.”
He said Heritage Bank has been a leading Nigerian bank with an excellent service culture hinged on working with each customer to create a name, wealth and heritage.
Also speaking, President/Convener Prime women Builders Foundation of Nigeria, Ms Kemi Olofinkua applauded the bank for its support, and urged other corporate organizations to take a cue from the lender in supporting grassroots women empowerment.
She explained that through the support from the Heritage Bank and the Ikeja Local government, the women, based on their choices, have been equipped with 15 vocational skills covering event decoration, small chops making, baking, pastries, bead making, computer training, soap making, makeup, tailoring, digital marketing, Photography, hairdressing among others.
To underscore the importance of women empowerment, the CBN had earlier set aside 60 percent of its N220 billion MSMED Fund for providing financial services to women.
According to Ms Olofinkua, this training is important because when women are positively occupied, the level of poverty will reduce and great achievements will be recorded not only on the home front, but on several sectors of “our national life.”
“Heritage Bank has been very supportive and our desire is to see participants of PWOBFON Empowerment Day, doing great in their various vocations. Each and every one of us must deliberately find something to occupy us and bring good profit. There are lots of vocations that each and every one of us can excel in; so that we will not be frustrated along the part of life,” Ms Olofinkua stated.
The executive chairman, Ikeja Local Government Development Council, Dr Mojeed Alabi Balogun, represented by his vice, Yomi Mayungba said the local government is interested in the initiative because it is in line with its grassroots skills training program. According to him, this is a way of keeping not only women, but men also out of the streets.
He disclosed that the first batch of trainees started from Ikeja and this is the 10th year anniversary. “The local government is delighted to partner with the NGO, Heritage Bank and other interested parties,” Balogun said.
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.
