Banking
Stanbic IBTC Gets Laurels for Contribution to Nigerian Economy
By Sodeinde Temidayo David
Stanbic IBTC Holdings has continued to receive different acknowledgements and awards for its outstanding contribution to the Nigerian financial industry and economy.
In the recent statistical update of the National Bureau of Statistics (NBS), Stanbic IBTC Bank Plc emerged at the top of capital investment in Nigeria in the second quarter of the year with $310.21 million, which accounts for 35.43 per cent of the total capital inflow in the period.
In addition, Stanbic IBTC Bank emerged again as the Best Sub-Custodian Bank in Nigeria at the 2021 edition of the Global Finance Best Sub-Custodian Bank Awards organised by the global finance magazine.
The organisation achieved a remarkable feat by winning the award for the 10th consecutive year.
The bank received the award, leading other nominated banks in having outstanding service in customer relations, quality of service, competitive pricing, innovative technology platforms, post-settlement operations, business continuity plans, and knowledge of local regulations and practices.
Speaking on this, the Chief Executive of Stanbic IBTC Bank, Mr Wole Adeniyi, expressed his delight at the announcement, saying that the award had once again placed Stanbic IBTC Bank on a pedestal of excellence as a foremost financial services provider in Nigeria.
“We are excited that Stanbic IBTC Bank PLC has been recognised as the best Sub-Custodial Services Provider in Nigeria for the 10th consecutive year.
“We attribute this award and esteemed recognition to our team’s hard work and dedication in carrying out custodial services, our ever-evolving technological innovation in service delivery, and our passion for client satisfaction. We will not relent in giving our absolute best at all times,” he said.
Also, on his part, the Chief Executive, Stanbic IBTC Nominees, Mr Babatunde Majiyagbe, spoke of the award, expressing his delight in the commitment and performance the bank had shown to deserve the award.
“The criteria for this recognition show that we are on the right path as we continually seek ways to provide the best-in-class service to our clients despite current global challenges.
“Client-focus and digitisation remain key drivers for business success, and we will continue to provide value because we are committed to making real progress,” Mr Majiyagbe disclosed.
Similarly, Stanbic IBTC Holdings PLC was declared the Holding Group Category winner at the 2020 edition of the Next 100 Global Awards by the international finance magazine Global Banking and Finance Review.
The Next 100 Global Awards recognised organisations with exceptional strategy, achievements, dedication, and leadership.
Some of the indices that were taken into cognisance in awarding Stanbic IBTC included leadership and team experience, quality, track record, industry footprint, social contribution, economic impact, and the level of expertise.
Other criteria were growth rate, industry awards and recognitions, technological advantages, customer response and engagement, the disruptiveness of solutions in respective markets, and impact on the respective industry.
The CEO, Stanbic IBTC Holdings PLC, Mr Demola Sogunle, also commented, “We are excited to be listed amongst winners of the next 100 global awards 2020, specifically in the holding group category.
“This is a testament to the high operating standard at Stanbic IBTC and proof of the confidence that our numerous customers have in our service delivery.”
Also, the organisation was honoured with the outstanding community service award in corporate social responsibility by the Olambe community in Ogun State. The award was in recognition of the organisation’s meritorious contributions to the development of the Olambe community.
On congratulating the leading financial institution on behalf of Olambe Community, the CEO, Ascend Hotels Limited, Mr Wale Olatunde said, “This is a well-deserved honour given to the organisation for being dependable and supportive over the years. We recognise and appreciate the positive impact and contributions of the organisation to Olambe Community.”
Mr Wole Adeniyi spoke of Stanbic IBTC’s penchant for leaving lasting legacies, especially amongst host communities.
He said, “through our Corporate Social Investment (CSI) initiative, which is hinged on three major pillars, namely: education, health and economic empowerment, we consistently reach out to underserved communities and provide the assistance required to make the society a better place.”
Stanbic IBTC, over the years, has been a recipient of several awards for outstanding financial performance, excellent customer service delivery, and management efficiency.
Banking
UBA, NiDCOM to Unlock Diaspora Capital for Nigeria’s Growth
By Modupe Gbadeyanka
A partnership aimed to unlock diaspora capital for Nigeria’s growth has been deepened by the United Bank for Africa (UBA) Plc and the Nigerians in Diaspora Commission (NiDCOM).
The chief executive of UBA, Mr Oliver Alawuba, underscored the diaspora’s critical role as a powerful economic force and a generation of builders shaping new narratives for the continent.
He also reiterated the financial institution’s readiness to leverage its global network and innovative financial solutions to support diaspora engagement, urging Nigerians abroad to tap into opportunities within Africa’s economic landscape.
“You are not limited here; you have opportunities on the continent, and we want you to make good use of them. That is where banking, and we at UBA, become the connecting point that you need to access the opportunities back home.
“Whether you like it or not, the returns are high in Africa, and we are here to help you navigate that space,” the UBA chief said on Monday when he hosted key representatives of NiDCOM led by its chairman, Mrs Abike Dabiri, at the bank’s office in the United Kingdom.
UBA recently launched a Diaspora Banking platform to provide a seamless, integrated platform for Africans in the diaspora to bank, invest, and manage their financial obligations back home, thus connecting global Africans with investment and wealth opportunities.
The lender introduced the platform, with leading ecosystem partners representing a major step in redefining diaspora banking beyond remittances toward structured wealth creation and long-term investment.
“With UBA, you have a financial partner that is with you, that understands what you are going through, and that can support you to make sure you realise your aspirations, both here and in the country,” Mr Alawuba noted.
In her remarks, Mrs Dabiri-Erewa praised UBA for being a trusted financial partner over the years, especially with the recent launch of its diaspora platform.
“Many of you here are the real game-changers. “For years, it has been wonderful engaging Nigerians all over the world. When I started, it felt like we only heard the bad stories, not the good ones. What we have tried to do internationally is to tell and celebrate the good stories. We have Nigerians doing well all over the world, and they are in this room. We must continue to celebrate you,” she stated.
While remarking that the meeting demonstrates a significant step in aligning public and private sector efforts to deepen diaspora inclusion and accelerate Nigeria’s development agenda, she pledged closer collaboration in driving policies and initiatives that encourage Nigerians abroad to actively participate in the country’s economic growth.
Banking
Ecobank’s Enhanced Ellevate Initiative Excites Women Entrepreneurs
By Modupe Gbadeyanka
The launch of the Enhanced Ecobank Ellevate Proposition (Ellevate 2.0) in Lagos has been welcomed by women entrepreneurs.
Ecobank Nigeria, a subsidiary of the pan‑African financial services group Ecobank Group, unveiled the upgraded programme at an event themed Her Voice. Her Power. Her Growth. The initiative was designed to support women‑owned businesses.
The gathering featured inspiring conversations and practical insights from accomplished women in business and professional leadership.
In her keynote address titled The True Woman Power: Strength Rooted in Identity, Resilience and Purpose, the founder of Gatimo Limited and Creative Director of Ruff ‘n’ Tumble, Mrs Adenike Ogunlesi, praised Ecobank for its longstanding support for women entrepreneurs.
“When I was seeking a loan facility many years ago to grow my business, Ecobank was the institution that supported me when others turned me down,” she shared, encouraging women to embrace self-awareness, resilience, and purpose as the drivers of long‑term success.
The panel session featured the chief executive of Strata Advisory, Ms Bode Abifarin; the chief executive of Village Farms Commerce and Exchange, Ms Titilayo Adesoga; and the founder of Beaty Hut Africa, Ms Subuola Oyeleye, who each shared powerful reflections from their personal and professional journeys.
Drawing from her extensive leadership background, Ms Abifarin highlighted the need for women to own their transitions and step confidently into new seasons.
On her part, Ms Adesoga encouraged women to rise above limitations by taking ownership of their personal and business narratives, as Ms Oyeleye highlighted the importance of authenticity, innovation, and investing in quality, reinforcing that women can build globally competitive businesses from Nigeria.
In her welcome speech, the Head of Premier Banking and Wealth Management at Ecobank Nigeria, Ms Ayo Osolake, who represented the Managing Director/Regional Executive, Mr Bolaji Lawal, said, “Ellevate by Ecobank reflects our unwavering commitment to supporting women entrepreneurs, who remain key drivers of economic growth, innovation, and job creation.”
Ellevate Manager for Ecobank Nigeria, Ms Victoria Igun, said, “This enhanced proposition creates stronger pathways for women entrepreneurs and professionals to build sustainable businesses and translate ambition into lasting impact.”
Banking
Zenith Bank Plans London Stock Exchange Listing in 2027
By Adedapo Adesanya
Nigerian tier-1 lender, Zenith Bank Plc, plans to list on the London Stock Exchange in 2027 to broaden access to capital and strengthen client services.
“There are a lot of deals we have on the table to finance across the United Kingdom and other countries, for which we need to raise more capital,” a bank official said on Tuesday, as per Bloomberg, since Zenith didn’t disclose additional details of its plan.
The move will make Zenith Bank the second Nigerian lender to list on the United Kingdom’s major exchange, following Guaranty Trust Holding Company (GTCO) Plc.
Zenith Bank, which is Nigeria’s second-largest lender by market value, has opened a branch in Manchester today in addition to the operation it already has in London.
The Manchester branch has the capacity to create up to 30 new direct jobs, a boost for the economy of the UK’s North West region.
The chief executive of Zenith Bank, Ms Adaora Umeoji, said, “The United Kingdom remains a key global financial centre. The opening of Zenith Bank, Manchester, therefore, marks another important milestone in our international expansion strategy, enabling us to deepen relationships with our customers, support trade and investments, and connect businesses between Africa and the UK more effectively.”
Last year, the bank raised its capital above the N500 billion minimum requirement set by the Central Bank of Nigeria (CBN), and announced plans to expand in francophone West Africa.
Founded in 1990 by Mr Jim Ovia, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a remarkable history of year-on-year profitability.
Headquartered in Lagos, Nigeria, Zenith Bank operates over 500 branches and business offices across the 36 States of the Federation and the Federal Capital Territory (FCT).
The bank currently operates subsidiaries in several African countries, including Ghana, Sierra Leone, Gambia, and Cote d’Ivoire, while maintaining a presence in major international financial centres, including the United Kingdom, France, the UAE and China.
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