Banking
NDIC Supports CBN’s Move to Recapitalise Nigerian Banks
By Adedapo Adesanya
The Nigeria Deposit Insurance Corporation (NDIC) has lauded the Central Bank of Nigeria (CBN) for its move to recapitalise Nigerian banks to achieve economic resilience in the country and pledged a seamless collaboration towards achieving the effort.
Recall that the CBN mandated financial institutions to recapitalise within the next 24 months based on their spread. This ranged from N10 billion to as high as N500 billion.
The Managing Director of NDIC, Mr Bello Hassan, who made the commendation during the NDIC Special Day at the ongoing 35th Enugu International Trade Fair, said the agency would continue to collaborate with the apex bank in ensuring a seamless transition while safeguarding depositors’ interest.
The fair began on April 5 and is themed Promoting made-in-Nigeria products for global competitiveness.
Mr Hassan said in light of the ongoing global economic dynamics, the CBN has stepped up regulatory efforts to ensure the resilience and stability of the Nigerian banking sector.
The managing director said that a significant stride in this direction remained the recent revision and pegging of higher minimum capital requirements for banks operating in Nigeria.
“Under this proposal, commercial banks would be required to maintain minimum capital levels of N500 billion, N200 billion, and N50 billion for International, national, and regional institutions.
“As well as N50 billion for merchant banks, while national and regional non-interest banks are required to maintain N20 billion and N10 billion respectively.
“This strategic recapitalisation initiative is in line with President Bola Tinubu administration’s urge to grow Nigeria’s economy to the ranks of $1 trillion base economies.
“This will not only strengthen the banking system but would also enhance the sector’s ability to withstand financial shocks,” he said.
Mr Hassan revealed that since the CBN revoked the licenses of 179 Microfinance Banks and four Primary Mortgage Banks in 2023, the NDIC had continued to efficiently disburse insured sums to verified depositors of these closed institutions.
He noted that depositors, who had undergone verification and had provided alternative account details, had received their payments seamlessly within a record period of five working days.
“While it is worth noting that depositors with amounts exceeding the insured limit will receive liquidation dividends once debts are recovered and assets of the closed banks are disposed.
“Moreover, the NDIC strongly encourages depositors of the affected banks to come forward with their Bank Verification Number (BVN), proof of account ownership, proper identification, and/or alternative account details.”
According to the NDIC MD, various channels are available for claims, including visiting the nearest NDIC offices in person, using the NDIC App online, or accessing the Claims Page on the NDIC website: www.ndic.gov.ng. This can also be done via through the Toll-Free Help Desk Line at 0800 634 424 357.
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 Aduragbemi Omiyale
About 2,037 professionals have been inducted into the prestigious Chartered Banker and Microfinance Certified Banker cadre of the Chartered Institute of Bankers of Nigeria (CIBN).
At the induction ceremony over the weekend in Lagos, the chairman of Polaris Bank Limited, Mr Kassin Gidado, charged the newly inducted chartered bankers to be guided by three key principles throughout their careers: upholding integrity, committing to lifelong learning, and leading with purpose.
“Banking today is evolving at an unprecedented pace. Digital transformation, financial inclusion, regulatory reforms and emerging technologies are redefining how financial institutions operate and deliver value to society,” he said at the 2026 Stream 1 Chartered Banker Induction ceremony, which brought together industry leaders, regulators, banking professionals, and stakeholders to celebrate professional excellence and reinforce the role of certification in strengthening Nigeria’s financial system.
Mr Gidado described the induction ceremony as more than a formal event, noting that it represents a celebration of excellence, perseverance, and professional discipline within the banking industry.
He emphasised that while technology continues to transform the banking sector, trust remains the most valuable currency in banking, stressing that the credibility of the financial system ultimately depends on the integrity and professionalism of banking professionals.
The Polaris Bank chair commended CIBN for its continued commitment to strengthening professional standards, developing industry capacity, and nurturing the next generation of banking leaders in Nigeria.
He also reiterated the importance of investing in human capital within the financial services industry.
“At Polaris Bank, we firmly believe that human capital is the most strategic asset within financial institutions. The future of banking will not be defined only by technology or capital, but by the quality of professionals who steward these resources responsibly,” he stated.
Business Post gathered that the inductees emerged through various certification routes, including nine candidates through the Chartered Banker/MBA route, 816 through the Chartered Banker Regular Route, 25 through the MSc/Chartered Banker pathway, 262 through the SMP/AMP/Chartered Banker pathway, and 435 Microfinance Certified Professionals.
The candidates comprised executives, senior and middle management staff of Deposit Money Banks, Microfinance Banks and other financial institutions, as well as professionals from the public and private sectors, self-employed members of the Institute, and graduates from linked tertiary institutions.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn