Banking
Stanbic IBTC Reaffirms Position as Leading Employer Brand
By Modupe Gbadeyanka
Stanbic IBTC’s status as a leading employer brand has again been reaffirmed as the financial institution won an unprecedented five of nine awards at the HR People Magazine Awards 2018 held recently in Lagos.
The five awards won by Stanbic IBTC are: Best Training, Learning & Development Strategy 2017; Outstanding Employee Engagement Strategy 2017; Employer of Choice 2017 (large corporates category); HR Manager of the Year 2017; and HR Champion of the Year 2017 (awarded to the Group Chief Executive for outstanding commitment to growing people at the organization).
HR People Magazine, organisers of the awards, is the foremost magazine dedicated to the human resources and people development profession in Nigeria and Africa at large. According to the organisers, the awards are evidence-based, and the criteria used to select winners include: a demonstrable and effective strategy to drive the HR touchpoints in all the award categories, ability to show consistent best practice implementation within the organization, evidence-based programs and the impact of these programs on the organization. Specific emphasis on; employee retention, client testimonials and organization’s reputation throughout the business and wider community, employee engagement and productivity levels; among other criteria. Performance was judged over the period covering January 2017 through to December 2017.
Chief Executive, Stanbic IBTC Holdings PLC, Mr Yinka Sanni, stated that winning five awards is a testament to Stanbic IBTC’s strategy of growing a responsible, disciplined, and highly productive workforce. It also reinforces the company’s strong management, systems and its leadership in the financial services industry.
According to Mr Sanni, the awards are a testament to Stanbic IBTC’s continuous investments in its human capital and the establishment of people-friendly procedures and practices, as well as a professional but friendly work environment and a support structure that helps to motivate the employees to give their best while exhibiting their talents.
“We are delighted to be recognised in five different categories out of nine for our strong human capital strategies and deliberate and consistent investments in our people. For us, a highly motivated workforce, one that can deliver better services, is a function of the level of investment in the human capital for professional and personal development that helps to create a productive workforce whilst fulfilling individual career aspirations,” Mr Sanni said.
“These awards will energise us to continue to fine-tune our strategies and provide our people with the right environment, the right tools and adequate incentives to win their commitment as well as grow our people,” he added.
Speaking on the rationale for the awards, Editor-in-Chief of HR People Magazine, Dapo Saheed, said the awards were instituted to celebrate individuals and organisations that have invested in their workforces and are committed to strategies that help to engender best practices in HR and efficient business outcomes.
“These accolades were instituted to reward companies and HR managers who have strategies in place to engender a work-life harmony. They prioritise Human Capital as essential to delivering superior value to stakeholders and this is reflective in people-related investments, processes, policies and practices put in place.”
Stanbic IBTC had similarly been recognised by the Chartered Institute of Personnel Management (CIPM), the principal HR body in Nigeria, for its exceptional people strategy. In 2016 and 2017, Stanbic IBTC won CIPM’s Overall Best HR Practices in Corporate Nigeria.
Other awards won by Stanbic IBTC’s Human Capital team are: CIPM 2017 HR Optimization Award as the Best Employee Engagement & Internal Communication Initiative; CIPM 2017 HR Best Practice Awards (Banking & Finance Category); HealthMeetings.Org’s 2017 Special Award for Outstanding Investment in Employee Health; and HR People Magazine Award for Outstanding Talent Strategy 2016.
Head, Human Capital, Stanbic IBTC, Mrs Funke Amobi, thanked HR People Magazine for the recognition, even as she assured that the organisation will not rest on its oars in ensuring a productive and motivated workforce.
Stanbic IBTC Holdings PLC is a full service financial services group with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management. Stanbic IBTC belongs to the Standard Bank Group, the largest African financial institution by assets and market capitalization. It is rooted in Africa with strategic representation in 20 countries on the African continent.
Standard Bank has been in operation for 155 years and is focused on building first-class, on-the-ground financial services institutions in chosen countries in Africa; and connecting selected emerging markets to Africa by applying sector expertise, particularly in natural resources, power and infrastructure.
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
