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Participants Learn Compliance Requirements at Stanbic IBTC Trade Export Webinar

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By Modupe Gbadeyanka

A trade export webinar to educate export business owners on the various regulations and compliance requirements, the best practices for finding the right partners, managing risk, using trade barometers, and building trade relationships with potential clients has been organised by Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings Plc.

The idea of the programme was to empower participants with the knowledge and resources needed to succeed in the export trade sector.

During the webinar themed Getting Your Business Export Ready, attendees gained valuable insights on successfully navigating the complexities of exporting goods and services in the export trade sector.

During his opening remarks, the Head of Enablement and Ecosystem at Stanbic IBTC Bank, Mr Olufemi Oyekola, noted that the exchange of goods through export and import activities determines the economic status of a nation.

He stated that the trade sector was a catalyst for rapid economic growth, which fosters international relations between countries, noting that an economy that would flourish must place more emphasis on exports than imports.

On his part, the Head of Africa China Banking at Stanbic IBTC Bank, Mr Chigozie Onyeocha, stated that, “At Stanbic IBTC, we are constantly on the lookout for the latest trends that support our agenda for business growth.”

Mr Onyeocha added that the webinar aimed to empower export business owners with the knowledge to prepare for headwinds, as World Trade Organization (WTO) economists predict a 1.0 per cent increase in global merchandise trade volumes, down sharply from the previous estimate of 3.4 per cent.

The panel session at the webinar featured seasoned veterans of international trade, who shared their experiences and provided practical advice to help businesses succeed in the global marketplace.

They also discussed the latest trends and developments in the industry, such as the trade barometer, the importance of e-commerce, trade growth of 2023, Africa-China Trade Solutions offerings, and exporting non-oil products.

The panellists included Bamidele Ayemibo, Lead Consultant, 3T Impex Trade Academy; Ifeoma Abdul, Manager, Trade Finance, Business and Commercial Clients, Stanbic IBTC Bank; Lu Fan, Senior Manager, Business Development, Africa China Banking, Business, and Commercial Clients, Stanbic IBTC Bank and Oluwaseun Odunsi, Export Trade Specialist, TPS Trade, Stanbic IBTC Bank.

Others were Philip P Myburgh, Executive Head, Trade and Africa China, Business and Commercial Clients, Standard Bank Group; Chigozie Onyeocha, Head, Africa China Banking; Olajumoke Bello, Head, Enterprise Banking, Stanbic IBTC Bank and Olufemi Oyekola, Head, Enablement, and Ecosystem, Stanbic IBTC Bank.

Attendees also learned about the services offered by Stanbic IBTC Bank to support their export operations, including trade finance, foreign exchange hedging, and international payment solutions. Stanbic IBTC Bank is committed to businesses in their efforts to expand globally.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Banking

Flood: Fidelity Bank Donates Food Packs to Mokwa Residents

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By Modupe Gbadeyanka

No fewer than 1,500 residents of Mokwa in Niger State affected by flood have received food packs from Fidelity Bank Plc under its Fidelity Food Bank Initiative.

The Fidelity Food Bank donation in Mokwa followed similar initiatives in areas affected by disasters.

The bank previously donated food and sanitary items to victims of a fire outbreak in Taraba State and provided cash and food to those affected by the Zaria Central Mosque collapse in 2023.

Recall that recently, several families were tragically displaced by flood in Mokwa, and Fidelity Bank, as part of its desire to help vulnerable communities across Nigeria, was available to offer its shoulders for victims to rest on.

The distribution of the food items was witnessed by government officials from Niger State, led by the First Lady, Mrs Fatima Umaru Bago.

Also present were the Secretary to the State Government, Mr Abubakar Usman Gawu; the Chief of Staff to the Governor, Mr Usman Abdullahi Gbatamangi; the Deputy Chief of Staff, Mr Yusuf Sadiq; the Commissioner for Budget and Planning, Mr Mustapha Ndajiwo; and the Commissioner for Education, Mrs Hannatu Jibril, among others.

Commenting on the donation, the Divisional Head of Brand and Communications at Fidelity Bank, Mr Meksley Nwagboh, said, “At Fidelity Bank, we believe corporate citizenship means standing by communities in their greatest time of need.

“We are honoured to support the people of Mokwa through the Fidelity Food Bank Initiative. This is more than just a relief effort — it’s a affirmation of our promise to always be there for the people and communities we serve, especially in challenging moments.”

“This donation reflects our collective responsibility to respond with compassion and urgency. The people of Mokwa are not alone — we share in their struggles, and we will continue to support them as they rebuild their lives,” he added.

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Banking

Bankit Microfinance Bank Customer Base Nears 100,000

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By Modupe Gbadeyanka

The customer base of Bankit Microfinance Bank (MFB) is fast approaching the 100,000 threshold just weeks after surpassing the 50,000-mark in its early days of launch, a strong indication of growing trust, adoption, and momentum in the Nigerian digital banking space.

The brand’s commitment to offering real value, hassle-free services, and digital trust is clearly resonating with a wide demographic; from everyday individuals to small business owners and young digital natives looking for smarter ways to bank, especially at a time consumers of financial services are looking out for better options.

Backed by a solid financial base and strong liquidity, Bankit is not only earning customer loyalty but also industry-wide recognition as one of the most promising players in Nigeria’s fintech and microfinance space.

The lender’s rapidly growing user base is a testament to its reliability and relevance, especially in a market that demands simplicity, speed, and transparency.

Commenting on this development, the Chief Operating Officer of Bankit MFB, Mr Simpa Yekini, said, “Reaching this new milestone confirms what we’ve always believed; Nigerians are ready for a smarter, more accessible way to bank.

“We’re not just building a bank. We’re building trust, simplicity and value into every transaction.

”It is also very important to state that this rapid growth isn’t by chance. It’s the result of deliberate customer-centric innovation and a bold approach to financial services, one that puts the user at the heart of the experience.

”Since inception, we have offered free and seamless money transfers, fast and intuitive account setups, enhanced security with biometric login features, and a smooth, reliable interface that delivers convenience without compromise.”

Mr Yekini noted that with the company’s growing nationwide acceptance and surge in daily transaction volumes, the digital bank is confidently projecting to reach one million customers before the end of the year, a goal that now seems well within reach.

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Banking

Zenith Bank Vows to Meet Shareholders’ Dividend Expectations for FY25

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By Aduragbemi Omiyale

Shareholders have nothing to worry about in terms of dividend payouts for the 2025 financial year, Zenith Bank Plc has assured.

In a statement, the tier-1 lender said it should satisfy all relevant conditions to exit the regulatory forbearance of the Central Bank of Nigeria (CBN) by June 30, 2025.

Recall that the central bank asked banks to suspend payment of dividends to shareholders until they quit the forbearance.

This directive triggered panic in the stock market, resulting in investors trimming their exposure to banking equities, though things improved yesterday.

In a notice to the Nigerian Exchange (NGX) Limited, Zenith Bank clarified that its exposure under the Single Obligor Limit (SOL) forbearance relates solely to a single obligor, pointing out that this exposure will be brought within the applicable regulatory limit on or before June 30, 2025.

The bank also confirmed that the forbearance granted on other credit facilities applies to only two of its customers, noting that it has made substantial provisions in respect of these facilities and taken appropriate and comprehensive steps to ensure full provisioning by June 30, 2025.

The financial institution further emphasized its strong financial footing, stating that it has successfully raised and surpassed the new regulatory capital requirement of N500 billion, and is therefore well positioned to continue delivering value to all its key stakeholders.

Zenith Bank has continued to distinguish itself in the Nigerian financial services industry through superior service offering, unique customer experience and sound financial indices.

The bank has remained a clear leader in the digital space with several firsts in the deployment of innovative products, solutions and an assortment of alternative channels that ensure convenience, speed and safety of transactions.

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