By Aduragbemi Omiyale

A former Deputy Managing Director of First Bank of Nigeria, Mr Gbenga Shobo, has been appointed to the board of FairMoney Microfinance Bank as chairman.

This appointment is part of the strategies deployed by the small technology-driven financial institution to strengthen corporate governance.

In a statement made available to Business Post on Tuesday, it was disclosed that a former chief executive of Letshego Microfinance Bank, Mr Debo Aderoju, has also been appointed to the board as an executive director and Chief Risk Officer.

The chief executive of FairMoney, Mr Henry Obiekea, said the appointment of the duo “reinforces our commitment to transforming FairMoney into a market-leading financial institution.”

“Mr Shobo joins our board with extensive experience in managing complex operations and a deep understanding of the retail and tech-enabled sectors, which will be invaluable as we continue to expand our services and deliver even greater value to our customers.

“In addition, Mr Aderoju’s strong expertise in governance and inclusive finance will serve as a key driver for enhancing operational efficiency, risk management and regulatory compliance,” he added.

Mr Shobo brings to the board over 35 years of experience in the banking industry. During his tenure at First Bank, he played a pivotal role in driving remarkable growth in digital banking volumes and supervised business units that generated significant portions of the bank’s total revenue.

An alumnus of the University of Ife, Harvard Business School, Stanford University and INSEAD, He has also served on the boards of various financial institutions, including microfinance, insurance and fintechs, highlighting his experience across diverse segments of the financial services ecosystem.

Renowned for his strategic insight, governance acumen, and boardroom expertise, his appointment is expected to further strengthen the bank’s governance architecture and provide strong strategic oversight as FairMoney continues to expand its footprint in Nigeria’s financial services landscape, while upholding the highest ethical standards.

On his part, Mr Aderoju is a banking professional with more than two decades of experience in credit management, enterprise risk management, and inclusive finance.

Earlier in his career, he worked at United Bank for Africa and later moved to First Bank of Nigeria Limited, where he oversaw risk management functions across multiple Sub-Saharan African markets. His appointment is subject to regulatory approval.

He is an alumnus of the Leadership Development Program at the Gordon Institute of Business and Science (GIBS), University of Pretoria, South Africa, and the Massachusetts Institute of Technology.

By Adedapo Adesanya

The chief executive of Access Bank Plc, Mr Roosevelt Ogbonna, has called for stronger collaboration among policymakers, financiers and businesses to accelerate trade within Africa and unlock the continent’s economic potential.

Mr Ogbonna made the call at the Access Bank Africa Trade Conference (ATC 2026) held in South Africa, where he said Africa must address structural barriers that continue to limit the growth of intra-continental commerce despite its vast market opportunities.

Speaking during his opening remarks, the Access Bank chief noted that the conference was convened to continue conversations which started at the inaugural edition in 2025 on how Africa can expand trade within the continent while strengthening its participation in global markets.

He noted that Africa’s share of global trade remains relatively small, stressing that fragmented trade corridors and structural bottlenecks continue to hinder the growth of commerce across the continent.

“The reality is that Africa still controls a small share of global trade. The corridors are still fragmented and more aspirational than functional, and too many small businesses that aspire to trade across Africa remain constrained”.

Further speaking, Mr Ogbonna explained that stakeholders at last year’s conference agreed on three key priorities for transforming Africa’s trade landscape. The priorities he listed include breaking down silos between policymakers, financial institutions and businesses, building a trade ecosystem driven by reliable data and analytics, and developing systems that support both large corporations and smaller businesses seeking to expand across borders.

He noted that the 2026 edition of the conference is not a fresh start but a continuation of efforts to drive meaningful progress in intra-African trade. According to him, since the last edition of the conference, some progress has been made across key sectors of the economy.

“We have seen value chains emerging across agriculture, manufacturing and services, and we are seeing African brands crossing borders and building a global presence,” he said.

Mr Ogbonna also pointed to the growing role of technology platforms in reducing friction in areas such as payments, logistics and market access. He, however, acknowledged that the gains remain uneven across the continent, with progress concentrated in a few markets and specific trade corridors.

The Access Bank Chief urged stakeholders across the continent to move beyond dialogue and take concrete steps that will strengthen trade relationships among African countries, emphasising that Africa’s economic transformation would depend largely on the willingness of businesses and institutions to collaborate more effectively.

“This conference must not end as another talking shop. It must become the birthplace of a movement that contributes to transforming intra-African trade,” he urged.

By Adedapo Adesanya

The Central Bank of Nigeria (CBN) has warned banking customers to safeguard their financial information by never sharing their personal identification numbers (PINs), passwords, and other sensitive banking details with anyone.

The apex bank, in a post obtained from its X handle on Monday, advised customers as the world observes Global Money Week 2026 amid rising cases of fraud and scams targeting unsuspecting bank customers.

It emphasised that even individuals claiming to be bank officials should not be trusted with personal banking information.

“Protect your money by protecting your information. As we mark Global Money Week 2026, remember: your PINs, passwords, and banking details should never be shared with anyone, not even someone claiming to be from your bank. Stay alert. Stay safe.”

The warning comes amid worries as fraudsters often impersonate bank officials via phone calls, text messages, or emails to trick customers into revealing sensitive data. This has been made worse with the development of artificial intelligence (AI).

Global Money Week is an annual international campaign that promotes financial literacy, money management, and consumer protection. It is being observed worldwide, including in Nigeria, with a focus on safe banking practices.

This year’s theme, Smart Money Talks, focuses on supporting young people to talk openly about money, develop essential financial skills, and make informed decisions that build long‑term confidence and financial well‑being

Throughout Global Money Week, people and institutions will carry out programmes that will aid learning about the necessary money management skills, attitudes and behaviours needed to make smarter future financial decisions.

Topics like scams and fraud awareness, managing finances, understanding transactions and protecting consumer rights will also be explored across the world.