Banking
Sahara Group Urges Sustained Global Partnerships
By Dipo Olowookere
Executive Director of Sahara Group, Mr Tonye Cole, has said that achieving the 2030 target for the Sustainable Development Goals (SDGs) will require strategic and continuing multi-sectoral collaboration across the globe.
Officially branded ‘Transforming our world: the 2030 Agenda for Sustainable Development,’ the SDGs is a set of 17 aspirational ‘Global Goals’ with 169 targets between them.
The goals include: ending poverty and hunger, improving health and education, making cities more sustainable, combating climate change, and protecting oceans and forests. The SDGs document was adopted at the UN Sustainable Development Summit September 25–27, 2015 in New York, USA.
Mr Cole, who is also co-founder of Sahara, a leading African Power and Energy Conglomerate, said the SDGs platform had since become a veritable tool for addressing critical developmental issues globally.
“Going by available records, a significant success trend is emerging and it is great to see unfolding collaboration amongst several stakeholders on interventions being midwifed by the United Nations and its affiliates. It is imperative for governments, private sector, NGOs, international development agencies and global civil society to work together in a sustainable manner to ensure the targets of the SDGs are achieved by 2030.”
He noted that Sahara Group has implemented sundry SDGs compliant interventions and is currently supporting several partnership platforms that are setting the tone for accelerating the achievement of the SDGs across the globe.
Sahara Group and the SDGs
Goal 1: End poverty in all its forms everywhere
Sahara has empowered people of varied of orientation through its economic empowerment initiatives across the nation.
Goal 2: End hunger, achieve food security and improved nutrition and promote sustainable agriculture
The Food Africa Project: A very first of its kind, this is the product of a partnership involving Sahara Group, the United Nations Sustainable Development Goals- Fund (SDG-F) and the Kaduna State Government aimed at empowering the people of Kaduna State and alleviating poverty through food security. The plan is to replicate this across Africa.
Goal 3: Ensure healthy lives and promote well-being for all at all ages
Sahara has upgraded primary health centers across Nigeria, and carried out eye surgeries, malaria and health awareness programmes.
Goal 4: Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
Sahara has implemented several Teacher training programmes, school infrastructure upgrades and scholarship programmes for indigent students.
Goal 5: Achieve gender equality and empower all women and girls
Sahara is involved in skills training programmes to equip women and young girls with skills in selected vocations and empower them to become masters of skills, more financially independent and eventually start businesses of their own
Goal 6: Ensure availability and sustainable management of water and sanitation for all
Through the provision of mechanized water systems and hand pump boreholes Sahara has created access to potable water in rural communities, and through collaboration with WATER has eradicated guinea worm disease across West Africa.
Goal 7: Ensure access to affordable, reliable, sustainable and modern energy for all
Sahara has encouraged the development of alternative sources of energy through partnership with ENACTUS and youths in institutions of higher learning in Nigeria. Sahara plans to replicate this model across other locations in Africa.
Goal 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Sahara Group’s ‘School Feeding Programme’ has provided employment and considerable financial independence for farmers, caterers and traders within the beneficiary communities
Goal 16: Peace, Justice and Strong Institutions
Sahara Group is spearheading a growing wave of transparency and good governance principles across Africa’s business space through its membership of the World Economic Forum community – Partnering Against Corruption Initiative (PACI). Sahara collaborates with global, regional and national organisations to promote sustainable development and transparency in business.
Goal 17: Strengthen the means of implementation and revitalize the global partnership for sustainable development
Sahara Group and other partners hope to integrate the entire food value chain – the farmer, wholesaler, retailer and consumer- through the Food Africa Project. This will facilitate a sustainable source of food security, poverty alleviation and eradication, skill acquisition and social inclusiveness. The Food Africa project aims to impact at least 500,000 beneficiaries (30% direct beneficiaries and 70% indirect beneficiaries) providing families with better nutrition and livelihood opportunities over a five year period.
By Modupe Gbadeyanka
The six edition of the Hackaholics of Wema Bank Plc has produced 20 top finalists shared equally between two streams, Ideathon and Hackathon.
The Hackathon finalists are Rapid DEV, Secure IT, Neurafeed, Trust Lock Babcock, Pulse Track, IlluminiTrust, Trust Lock FUTA, Fix Fraud AI, KASH Flow and VOC AI.
The Ideathon finalists include PLOY, Fertitude, VarsityScape, Mama ALERT, StockMed, Chao, All Arbitrate, FarmSlate, Sane AI and Cycle X.
They emerged after a two-day pre-pitch held on December 16 and 17, 2025, for the grand finale slated for Friday, December 19, 2025.
They grand finale of Hackaholics 6.0 will convene the top players in Africa’s tech and innovation ecosystem, creating an avenue for these finalists to not only put their creativity to the ultimate test but also give their solutions visibility to potential investors for additional funding opportunities beyond the prizes to be won.
The prizes to be won for the Ideathon include N25 million for the winner, N20 million for the first runner-up, N15 million for the second runner-up and N5 million each for two women-led teams.
In the Hackathon category, the first to fourth-place winners will receive N20 million, N15 million, N10 million and N5 million, respectively.
The pre-pitch saw the top 43 contenders battle in a game of innovation and problem solving, presenting compelling pitches for a chance to make it to top 10 in their respective streams.
After a rigorous stretch of pitches and presentations, the top 20 emerged, securing their spot in the grand finale of Hackaholics 6.0.
“Hackaholics started off as a hackathon and morphed into an ideation. For Hackaholics 6.0, the sixth edition, we decided to give both the builders of new solutions and the refiners of existing ones, an opportunity to make meaningful impact.
“For us at Wema Bank, we understand that innovation isn’t just building from scratch. Sometimes, it’s looking at what exists and developing new ways to optimise that and create more efficiency. This is the idea behind our two-stream Ideathon-Hackathon structure.
“Every year, Hackaholics shows us just how eager and motivated Nigerian youth are when it comes to exploring creativity and innovation, and we are honoured to be the institution that provides them with the platform and resources to put this drive to good use.
“We toured seven cities, indulged 1,460 participants and discovered hundreds of remarkable ideas; some of which needed some refining and some of which deserved to move to the next stage.
“For those who needed to go back to the drawing board, we provided useful guidance and for the top contenders, we were able to shortlist to the top 43, who proceeded to the pre-pitch. To every participant, Wema Bank is proud of you. This is just the beginning,” the chief executive of Wema Bank, Mr Moruf Oseni, said.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) says it will enforce penalties against designated banks that delay the remittance of customs revenue, in a move aimed at strengthening transparency and safeguarding government earnings.
This was disclosed in a statement on the NCS official account on X, formerly known as Twitter and signed by its spokesman, Mr Abdullahi Maiwada, who said the delays undermine the efficiency, transparency, and integrity of government revenue administration.
“The Nigeria Customs Service has noted instances of delayed remittance of customs revenue by some designated banks following reconciliation of collections processed through the B’odogwu platform,” the statement read.
“Such delays constitute a breach of remittance obligations and negatively impact the efficiency, transparency, and integrity of government revenue administration.
“In line with the provisions of the Service Level Agreement executed between the Nigeria Customs Service and designated banks, the Service hereby notifies stakeholders of the commencement of enforcement actions against banks found to be in default of agreed remittance timelines.”
Mr Maiwada disclosed that any bank that fails to remit collected Customs revenue within the prescribed timeline will be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the period of the delay.
He added that affected banks would be formally notified of the delayed amounts, the applicable penalty, and the deadline for settlement.
“Accordingly, any designated bank that fails to remit collected Customs revenue within the prescribed period shall be liable to penalty interest calculated at three per cent above the prevailing Nigerian Interbank Offered Rate for the duration of the delay.
“Affected banks will receive formal notifications indicating the delayed amount, applicable penalty, and the timeline for settlement,” the statement read.
By Aduragbemi Omiyale
The deputy managing director of First Bank of Nigeria (FBN) Limited, Mr Ini Ebong, has offloaded some shares of FBN Holdings Plc, the parent firm of the banking institution.
A regulatory notice from the Nigerian Exchange (NGX) Limited confirmed the development on Thursday.
It was disclosed that the transaction occurred on Friday, December 12, 2025, on the floor of the stock exchange.
The sale involved about 11.8 million shares, precisely 11,783,333 units traded at N31.14 per share, amounting to about N366.9 million.
Mr Ebong, who studied Architecture from University of Ife and obtained Bachelor and Master of Science degrees, became the DMD of First Bank in June 2024. Prior to this appointment, he was Executive Director, Treasury and International Banking since January 2022.
He was previously the Group Executive, Treasury and International Banking, a position he held since 2016 after serving as the bank’s Treasurer from 2011 to 2016.
Before joining First Bank, he was the Head of African Fixed Income and Local Markets Trading, Renaissance Securities Nigeria Limited, the Nigerian registered subsidiary of Renaissance Capital. He also worked with Citigroup for 14 years as Country Treasurer and Sales and Trading Business Head.
He has a passion for market development and has worked actively to drive change and internationalisation of the Nigerian financial markets: foreign exchange, fixed income and securities.
He has worked closely with regulatory bodies such as the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) in assisting with the development of fresh monetary and foreign exchange policies, to broaden and deepen markets and open them up to international practices.
At various times he has facilitated and delivered courses and seminars on a wide variety of subjects covering Money Markets, Securities and Foreign exchange trading and market risk management subjects to regulators, corporate customers, banks and market participants.
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