Banking
Nik Ogbulie Unveils ‘Inside Nigerian Banks’ In Lagos
By Dipo Olowookere
A book written by renowned Lagos-based financial journalist, Mr Nik Ogbulie, titled ‘Inside Nigerian Banks’, has finally been launched in Lagos.
The book, according to the author, captures the state of the Nigerian banking sector, with special reference to the series of developments, innovations, infractions, hopes, aspirations and disappointments within the various banking institutions in the last sixteen years.
He also disclosed that the piece is a new arrival in the anthology of banking sector intellectual research and publication and expresses confidence that it would interest stakeholders in the industry.
According to Mr Ogbulie, the 310-page book presents an insight into the economic intelligence outlook of Nigerian banks, with the intention of releasing their various properties and characteristics, in such a way that equity investors and services delivery consumers would quickly make their long-term decisions to avoid being caught in the web of the inconsistencies the author has perceived in many banks.
‘Inside Nigerian Banks’ was unveiled today at the Lecture Theatre of the Nigerian Institute of International Affairs, Victoria Island, under the Chairmanship of Mr Okenmor Fidelis Tilije, the Commissioner for Water Resources Development, Delta State.
The special guest of honour of the event was Professor Ndi Okereke-Onyiuke, former Director-General of the Nigerian Stock Exchange(NSE); while Jibril Aku, Head Strayegy, Ecobank Transnational Incorporated(ETI) and Chuka Onwuchekwa, MD/CEO , Aquila Leasing Limited and Chairman of Equipment Leasing Association of Nigeria (ELAN) were the guests of honour.
The author explained that ‘Inside Nigerian Banks’ is divided into eight chapters and offers readers the benefit of hindsight in its first chapter , ‘from Revolution to Reformation’, where the activities of the last four Governors of the Central Bank of Nigeria (CBN) were analyzed in line with the effectiveness or the efficiency of their policies in the consolidation mantra.
The book was chronological in buttressing the roles of the governors in the sanity that the industry enjoys and was even more critical in its presentation of the various controversies in some of the policies that trailed a lot of the decisions by each governor.
Short of rating the performances of the various governors, there are obvious imputations in the book that explain the proficiency of each governor above the other in all those efforts that were tailored to instil decorum in the industry.
However, the book is of the opinion that the last four governors have performed very patriotic functions in national economic development by concentrating on an industry that has been eager to meets global competitiveness.
The highpoint of the book is the author’s courage in dedicating the book to a woman he considers as the brain behind the success of the consolidation project, Professor Ndi Okereke-Onyiuke, former Director-General of the Nigerian Stock Exchange(NSE).
According to him, the various efforts like local and international road-shows, as well as high net-worth alliances with globally high-niche markets and equity franchise magnates propelled the perception of the Nigerian market and urged the investors to go for the Nigerian markets first.
The book noted that her tenure came with a drive that was consistent with the commitment to offer enough openings for all banks to raise cheap funds. It also mentioned that this motive did not only benefit the banks but caused an over-flow of investible funds into other equities than banks alone, to the extent that a bench-mark of over N14 trillion capitalization was recorded.
According to the book, the dedication was a way of encouraging Nigerian CEOs to embrace cross-section alliances as sine qua-non to national economic growth. The book noted that the Prof Okereke-Onyiuke’s leadership model is what Nigerians need to cultivate enduring growth alliances in the economy.
The book takes a copious look into all the banks and came up with positions that may continue to determine the rating of many agencies on our banks over time based on the depth of its data and the antecedents of the author who has spent some 26 years reporting the industry, the economy, public policies of the Nigerian governments, the World Bank/IMF and the nuances of other multilateral financial institutions on Nigeria.
In précised presentations, the about twenty banks are put in their proper places in terms of the future of their trade , and this forms a major basis for their going forward in the maze of struggles the industry is experiencing today.
The book, in all the detailed chapters may have set a platform for another intensive reform or has set up an interest for a new merger deal, signs of which current developments in the industry third quarter results may be giving credence to.
Carefully read, the book tries to tell Nigerians that the industry has come of age, but must watch their banks.
By Modupe Gbadeyanka
Registration for the second HerFidelity Apprenticeship Programme (HAP 2.0) organised by Fidelity Bank Plc has commenced.
The Divisional Head of Product Development at Fidelity Bank, Mr Osita Ede, informed newsmen that the initiative was designed to empower women with sustainable entrepreneurship skills.
The lender created the flagship women-empowerment initiative to equip women with practical, income‑generating skills and structured pathways to entrepreneurship.
“HerFidelity Apprenticeship Programme 2.0 reflects our commitment to continuous improvement. Having evaluated feedback from the first edition, we have returned with stronger partnerships and deeper mentorship programmes to ensure that women acquire not just skills, but sustainable economic opportunities,” he said.
“At the heart of the programme is guided, real‑world learning. Participants will undergo intensive apprenticeship training under reputable institutions and industry experts across select fields such as hair styling, shoe making, auto mechatronics, and interior decoration,” Mr Ede added.
He noted that HerFidelity Apprenticeship Programme 2.0 goes beyond skills acquisition by offering participants a wide range of business advisory services. These include business and financial literacy training, mentorship support throughout the apprenticeship journey, access to Fidelity Bank’s women‑focused and SME financial solutions, as well as guidance on business formalisation and growth strategies.
Further emphasising the bank’s vision, Mr Ede said, “By integrating structured mentorship with entrepreneurial development, Fidelity Bank is positioning women not just as trainees, but as future employers, innovators, and economic contributors within their communities. This aligns with our mandate to help individuals grow, businesses thrive, and economies prosper.”
By Modupe Gbadeyanka
A new branch of The Alternative Bank (AltBank) has been opened in Ondo State as part of the expansion drive of the financial institution.
A statement from the company disclosed that the new branch would support export-oriented agribusinesses through Letters of Credit and commodity-backed trade finance, ensuring that local producers can scale beyond state borders.
For SMEs, the bank is introducing robust payment rails, asset financing for equipment and inventory, and supply chain-backed facilities that strengthen working capital without trapping businesses in interest-based debt cycles.
The Governor of Ondo State, Mr Lucky Aiyedatiwa, represented by his Chief of
Staff, Mr Olusegun Omojuwa, at the commissioning of the branch, underscored the importance of financial institutions in economic development.
“The pivotal role of financial institutions to economic growth and development of any economy cannot be overemphasised. It provides access to capital, supporting small and medium-scale enterprises and encouraging savings.
“Therefore, I have no doubt in my mind that the presence of The Alternative Bank in Ondo State will deepen financial services, create employment opportunities and stimulate economic activities across various sectors,” he said.
In her remarks, the Executive Director for Commercial and Institutional Banking (Lagos and South West) at The Alternative Bank, Mrs Korede Demola-Adeniyi, commended the state government’s leadership and outlined the lender’s long-term vision for Ondo State.
“As Ondo State steps into its next fifty years, and into the future anchored on the sustainable development championed during the recent anniversary celebrations, The Alternative Bank is here to be the financial engine for that vision. We didn’t come to Akure to hang banners. We came to fund work, farms, shops, and factories.”
With Ondo State’s economy anchored largely on agriculture, particularly cocoa production, poultry farming, and other cash crops, alongside a growing SME and trade ecosystem, AltBank is deploying sector-specific financing solutions tailored to these strengths.
For cocoa aggregators, processors and poultry operators, the bank will provide production financing, facility expansion support, machinery lease structures, and structured trade facilities under its joint venture and cost-plus financing models, with transaction cycles of up to 180 days for commodity trades and longer-term structured asset financing for equipment and infrastructure.
The organisation is a notable national non-interest bank with a physical network now surpassing 170 locations, deploying capital to solve real-world challenges through initiatives such as the Mata Zalla project, which saw to the training of hundreds of women as electric tricycle drivers and mechanics.
By Adedapo Adesanya
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, announced on Tuesday that the country’s banking sector is making strong progress in the recapitalisation drive, with 20 banks now fully compliant.
Mr Cardoso disclosed this during a press conference at the first Monetary Policy Committee (MPC) meeting of 2026, where he also highlighted positive developments in the nation’s foreign reserves.
On March 28, 2024, the apex bank announced an increase in the minimum capital requirements for commercial banks with international licences to N500 billion.
National and regional financial institutions’ capital bases were pegged at N200 billion and N50 billion, respectively.
Also, CBN raised the merchant bank minimum capital requirement to N50 billion for national licence holders.
The banking regulator said the new capital base for national and regional non-interest banks is N20 billion and N10 billion, respectively.
To meet the minimum capital requirements, CBN advised banks to consider the injection of “fresh equity capital through private placements, rights issue and/or offer for subscription”.
Following the development, several banks announced plans to raise funds through share and bond issuances.
In January, Zenith Bank said it had raised N350.46 billion through rights issue and public offer to meet the CBN minimum capital requirement.
Guaranty Trust Holding Company Plc (GTCO), on July 4, said it had successfully priced its fully marketed offering on the London Stock Exchange (LSE).
In September, the CBN governor said 14 banks fully met their recapitalisation requirements — up from eight banks in July.
With one month to the central bank’s March 31, 2026, recapitalisation deadline, 13 Nigerian lenders are yet to cross the finish line.
Additionally, the governor noted that 33 banks have raised funds as part of the ongoing recapitalisation exercise, signalling robust capital mobilisation across the sector.
He stated that gross foreign reserves have climbed to a 13-year high of $50.4 billion as of mid-February 2026.
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