Banking
Rosemary’s Showroom Opens Abuja Office
By Modupe Gbadeyanka
An indigenous soft furnishing company, Rosemary’s Showroom, has increased the amount of local content contained in its production of various products.
The company made a U-turn from its hitherto production formula when over 65 percent of its raw materials were sourced from abroad.
Mrs Ezinne Kufre-Ekanem, Chief Executive Officer, Rosemary’s Limited, owners of Rosemary’s Showroom, disclosed this during the opening of the company showroom in Abuja on Saturday.
According to her, Rosemary’s Limited had over the 13 years of its existence used majorly foreign content to produce many of its choice soft furnishing products.
However, she disclosed that the prevailing economic recession has spurred her team to look backward in sourcing for equally quality raw materials that can deliver the kind of high standard that Rosemary’s Showroom is renowned for in Nigeria and beyond.
“Today, we now look inward. The current situation in the country has taught us to look inward and this has taught us a good lesson. It has taught us to come out with creativity that now stands us out. We now have Kente fashion, Adire Fashion and a host of other local content laced products we produce,” she stated.
On why the company chose Abuja as the next target after Lagos where the company started from, Mrs Kufre-Ekanem explained that Rosemary’s only responded to the tips from the market. She disclosed that the volume of requests coming from the Federal Capital Territory is not comparable to what comes from other cities in the country.
According to her, the opening of the Abuja office will enable the company bring the world-class soft furnishing and creative approach to interior decorations to the capital city of Nigeria.
However, she said the next expansion would be to Port-Harcourt, Rivers State or Uyo, Akwa Ibom State in 2017. According to her, Rosemary’s statistics show that those two cities top the list of the company’s sales turnover.
However, Mrs Kufre-Ekanem acknowledged that for any indigenous entrepreneur to survive in Nigeria, such needs commitment and perseverance to survive.
She recalled the challenges Rosemary’s faced at inception in Lagos when its landlord then served the company a quit notice, a development the management did not expect at that time. “That challenge, coupled with epileptic electricity supply and forex volatility is enough to force a small business out of existence”, she stated.
Mrs Kufre-Ekanem therefore implored government to make the environment more conducive for entrepreneurs in order to boost gross domestic product in the country.
Established in 2003, Rosemary’s is a niche-focused, passion driven home comfort company that specializes in soft furnishing with a deep belief in personal service. The company boasts of a team that is affectionately involved in thinking, making and delivering world- standard furniture from an African perspective.
The company boasts of a range of products that cuts across beds, lounge chairs, settees, dining tables, coffee stools, among others. The CEO said: “We conceive, design and build quality furniture for your home. Each item is tastefully hand-finished to high standards whether it is made from metal, wood or glass.”
According to her, beds are an important piece of furniture in our homes, considering the amount of time people spend on them when sleeping. As a result of that, she said a bed should be fit for beauty sleep; strong & sturdy enough to carry body frames, big & wide enough to allow us stretch out our full lengths and at the same time cozy enough to allow one snuggle up too. “Our beds provide all these and much more. Built to last and last in styles that are timeless, our beds do the job that they have been built to do like providing you with a perfect sleep at any time of the day or night you desire it,” she stated.
Besides, Mrs Kufre-Ekanem noted that the perfect dinning set compliments and completes your living space; adding that your dinning set of choice should be the right height providing adequate seating comfort to enable the family (and friends) bond & enjoy a meal together again and again. “We offer a wide range of styles ranging from 4, 6 and 8 seater sets,” she disclosed.
She therefore assures prospective customers in Abuja and its environs that it can also package any of the products as gifts to loved ones and associates during and after festive seasons.
She said the company renders Décor Advisory Services (DAS) to discerning individuals and corporate bodies.
“We unearth and proffer what is best for your space. Then, we listen again….We call it Rosemary’s Décor Advisory Services (DAS), but many of our clients have warmer names for it. We never forget that it is your space and that you are a unique being,” Mrs Kufre-Ekanem concluded.
By Modupe Gbadeyanka
About N2 billion is expected to be used to finance renewable energy products for customers by the end of 2026 in an effort to accelerate Nigeria’s clean energy transition.
To meet this goal, Sterling Bank is launching Sterling Solar Financing Hubs inside StarTimes retail outlets to embed on-the-spot solar financing at the point of purchase.
From the N2 billion earmarked for this initiative, N600 million has already been used up.
Under this programme, customers can now walk into participating outlets, select their preferred solar solution, receive financial guidance from dedicated Sterling Solar Financing Advisors, and begin the financing process immediately, subject to the bank’s credit assessment.
The first phase of the rollout commenced this July with five Solar Financing Hubs across Lagos, located in Lekki, Ikeja, Festac, Surulere, and Victoria Island.
The network will expand rapidly to 46 StarTimes outlets nationwide before the end of the third quarter of 2026, with a view to extending the model to more than 200 StarTimes locations nationwide.
Both parties have promised to continue working together to democratise access to clean energy financing, empowering more Nigerians to solarise their homes and businesses while contributing to a greener future.
“Sterling exists to enrich lives, and we believe that access to clean, reliable energy should be within everyone’s reach. Through this partnership with StarTimes, we are democratising access to solar by bringing financing directly to the point of need, enabling more families and businesses to transition to sustainable energy without the burden of prohibitive upfront costs. This is about unlocking opportunity, improving livelihoods, and powering Nigeria’s future,” the Divisional Head of Renewable Energy and Mobility at Sterling Bank, Mr Darlington Nwankwo, said.
Also commenting, the Vice President of StarTimes Nigeria, Mr Eric Xiao, said, “With the rollout of the Sterling Solar Financing Hubs, we are doing more than just selling solar products; we are building a sustainable energy ecosystem. By integrating StarTimes’ extensive service network with Sterling Bank’s professional financial services, we are significantly lowering the barrier for Nigerian households and small businesses to access clean energy.
“Moving forward, we will continue to deepen this partnership, ensuring that more Nigerians can enjoy reliable, affordable, and smart energy solutions, ultimately turning our vision of energy accessibility into a reality for all.”
By Modupe Gbadeyanka
The Nigeria Business Summit Regional Tour of Stanbic IBTC Bank made a detour to Jogor Centre, Ibadan, Oyo State, on Wednesday, July 15, 2026, to empower Micro, Small, and Medium Enterprises (MSMEs).
The event brought together business leaders, development partners and government representatives to discuss pathways for sustainable enterprise development across the South-West.
Participants engaged in practical masterclasses on export opportunities; access to finance and business growth strategies; gaining actionable insights into market expansion; trade documentation; credit readiness; financial record-keeping; and structured financing solutions designed to support long-term business success.
The Head of Enterprise Banking at Stanbic IBTC Bank, Ms Olajumoke Bello, informed participants that the programme is part of the lender’s commitments to supporting MSMEs through practical business education, strategic partnerships and improved access to growth opportunities.
The Executive Director of Business and Commercial Banking at Stanbic IBTC Bank, Mr Remy Osuagwu, on his part, said, “Our ambition is to be more than a financial institution to Nigerian businesses. We want to be a trusted growth partner, providing the financing, business insights and advisory support entrepreneurs need to build sustainable enterprises and unlock new opportunities.”
Similarly, the chief executive of Stanbic IBTC Bank, Mr Wole Adeniyi, who reinforced the company’s commitment to enterprise development, highlighted the importance of providing businesses with the right support structures to enable sustainable growth and long-term competitiveness.
“At Stanbic IBTC, we believe that sustainable economic growth depends on the success of small and growing businesses. That is why we are focused on providing access to finance, practical advisory support and the connections businesses need to move from ambition to scale,” he stated.
The Oyo State Commissioner for Investment, Trade, Cooperatives, and Industry, Professor Soliu Adelabu, said the initiative was designed to support businesses and strengthen the state’s entrepreneurship ecosystem, praising the bank for its support for traders, entrepreneurs, and artisans in the state.
The Permanent Secretary in the Oyo State Ministry of Women Affairs and Social Inclusion, Mrs O.M. Shotonwa-Roagess, highlighted the importance of strategic partnerships in expanding economic opportunities for women and vulnerable groups across Oyo State. She noted that the ministry remains open to collaborating with organisations such as Stanbic IBTC, development partners and the private sector to drive financial inclusion, entrepreneurship and sustainable economic empowerment.
The Nigeria Business Summit Regional Tour forms part of Stanbic IBTC’s broader commitment to empowering entrepreneurs through capacity building, financial inclusion and strategic business support, helping enterprises unlock new opportunities for growth and long-term success.
The Ibadan leg built on the momentum of previous tour stops in Katsina and Aba.
By Adedapo Adesanya
The Governor of the Central Bank of Nigeria (CBN), Mr Yemi Cardoso, says Nigeria anticipates remittances from citizens living abroad to increase by two-thirds in 2026 as it seeks to bolster its foreign-exchange reserves to $1 billion monthly.
“We are expecting that by the end of the year, we will hit about a billion Dollars a month from diaspora remittances,” he said at the 14th Annual BusinessDay CEO Forum in Lagos on Thursday, themed From Stability to Shared Prosperity.
Mr Cardoso said remittances are expected to be boosted from more than $600 million currently, banking on the CBN’s deliberate target at remittances to diversify reserve sources beyond oil earnings.
According to him, the apex bank engaged Nigerians abroad, banks and international partners to identify barriers to official remittance flows.
He said the lender subsequently reviewed policies to ensure easier movement of funds into and out of the country.
Mr Cardoso described the approach as providing free entry and free exit for foreign exchange.
He said the reforms helped double diaspora inflows within one year and exceeded initial expectations, also projecting annual remittances could reach about $8 billion if the current momentum was sustained, adding that the development reflected growing confidence in Nigeria’s financial system and foreign exchange market.
Mr Cardoso said reforms introduced by the apex bank had restored stability in the foreign exchange market and improved investors’ confidence.
He identified exchange rate unification as one of the central bank’s major achievements under the reforms programme.
According to him, replacing multiple exchange rate windows with a market-driven system eliminated distortions and improved transparency.
Mr Cardoso said improved foreign exchange liquidity and stronger reserves were among the gains from the reforms.
He said Nigeria’s net external reserves had risen from about $3 billion at the start of the reforms to above $40 billion currently, noting that gross external reserves had grown to about $52 billion, representing about 10 months of import cover.
According to him, the reserves are designed to shield the economy from external shocks and excessive market volatility.
He said the reserves were not meant for routine interventions or day-to-day exchange rate management.
