Banking
Sterling Bank Cleans up Markets, Roads in Lagos, Kano, Imo, Others
By Modupe Gbadeyanka
To commemorate World Recycling Day, a financial institution in Nigeria, Sterling Bank Plc, recently cleaned up some markets, roads and beaches in 23 states of the federation.
This was done through the lender’s Corporate Social Responsibility (CSR) initiative known as Sterling Bank Environmental Makeover (STEM).
It is part of its commitment to creating a cleaner and safer environment for the citizenry and aquatic life and the exercise was carried out simultaneously in Ogun, Oyo, Osun, Kwara, Ondo, Ekiti, Kano, Jigawa, Kaduna, Abuja, Delta, Anambra, Edo, Abia, Imo, Rivers, Bayelsa, Akwa-Ibom, Gombe, Bauchi, Plateau, Katsina and Lagos.
It was gathered that more than 1,000 participated in the clean-up exercises; including staff of Sterling Bank and volunteers.
In Lagos, it was executed in partnership with the Oniru Kingdom, Rite Foods, First Exploration and Petroleum Development Company, Bonnie Bio, Sterling One Foundation, Lagos State Waste Management Authority (LAWMA), African Clean-Up Initiative and Lagos State Environmental Protection Agency (LASEPA).
Speaking at the beach cleaning exercise at Oniru Beach, Lagos, Mr Abubakar Suleiman, Managing Director and CEO of Sterling Bank, said the bank embarked on cleaning exercises in 21 states out of the 24 states it is partnering with across the country.
The CEO who was represented by Mr Tunde Adeola, Executive Director of Commercial and Institutional Banking at Sterling Bank remarked that, “We have been on this journey for more than 10 years. Every time, this happens, we have a cleaner and healthier environment.”
He said, “Sterling Bank is well-positioned to do this,” adding that in the last two years, the bank has received recognition and awards for the initiative. According to him, Sterling Bank is also at the forefront of tourism in Lagos State.
Also speaking, Mrs Mojisola Bakare, General Manager, Corporate and Investment Banking with Sterling Bank said, “Sterling Bank is about impactful banking”, noting they believe that there is no way they will live on this earth without impacting on the environment, adding that for that reason, they have what is called the HEART of Sterling because they have strategically decided that they are going to impact specific areas of growth in the economy.
She said the HEART of Sterling stands for Health, Education, Agriculture, Renewable Energy and Transportation, adding that the head office in Marina, Lagos is being fitted with solar panels and soon it will be sustainably powered by the sun.
“It is very important that we take responsibility for our actions on the environment and preserve its beauty to boost the local economy and attract foreign tourists, and by extension, foreign exchange into the country,” Mrs Bakare said.
Commissioner for Ministry of Tourism in Lagos State, Mrs Uzamat Yussuf said, “We are aware that Lagos is a place of aquatic splendour.”
She said, “If we have water that is not well protected and sustained, it is better we don’t have any of it at all and that is why it is important for us to sensitise the citizens of Lagos on the proper way to dispose of wastes properly.
“When we do not dispose of wastes properly, it becomes an issue for ourselves and the state at large because when the rain starts and all our drainages are blocked, then we continue to experience flooding. In developed countries, they sell their beaches to tourists and make huge money as well as increase level of employment for their people.”
The commissioner stressed the need for the citizenry to clean the beaches in a bid to encourage tourists to come and see what the state can offer, adding that the purpose of tourism is to create wealth; which ultimately will increase the GDP of the country. She implored all to continue to manage and dispose wastes properly in a bid to sustain the environment.
Abia State Commissioner of Transport, Mr Godswill Uwanoruo, commended the management and staff of Sterling Bank for the cleaning exercise which started in the state since 2015.
He said, “I started this programme with them in 2015 when I introduced the bank’s team led by the incumbent CEO, Mr Suleiman, who was the then Executive Director of Finance to the governor of the state, Mr Okezie Ikpeazu.
“I am happy that they continued the programme by making sure that Abia State is clean,” Mr Uwanoruo said.
He advised other banks in the country to emulate the good gesture of Sterling Bank because it is not an easy thing for members of staff of a company to leave their offices and go out to clean markets and roads.
The commissioner also advocated that the exercise be done monthly or quarterly instead of annually.
The Commissioner of Environment in Bayelsa State, Mr Iselema Gbaranbiri, who graced the STEM event in the state noted that, “The state government is here with Sterling Bank to show the world that they are synergising and keeping Bayelsa clean.”
Also, Mr Muktar Baloni, Chairman of the Kaduna North Local Government Area Council, said he was impressed by the level of consistency in Sterling Bank’s environmental cleaning exercise and would want to emulate the bank by directing officials in the local government to replicate what the bank is doing in the local government.
World Recycling Day is celebrated across the globe every year on March 18th even as recycling is recognised as an important component of the United Nation’s Sustainable Development Goals (SDGs) 2030. It is estimated that the world generates over two billion metric tonnes of municipal solid waste and reusable items annually.
The theme of the year’s event is on the Recycling Fraternity, which refers to people who put themselves on the frontline to collect waste and engage in recycling during the multiple lockdowns as a result of the COVID-19 pandemic.
By Aduragbemi Omiyale
The international spending limit on the GTBank Naira card has now been increased to $20,000 per quarter, a notice from the financial institution disclosed.
In an email message to customers sighted by Business Post on Tuesday, the lender said the Dollar limit is applicable to POS and online transactions carried out with the debit card.
The increase in the spending limit on the GTBank Naira card for offshore transactions comes as Nigeria continue to experience stability in the foreign exchange (FX) market.
A few years ago, Nigerians were unable to use their Naira cards to conduct financial transactions online for operations outside the country. This frustrated many consumers, who could not buy things online from other jurisdictions.
However, after some forex reforms by the Central Bank of Nigeria (CBN) under the leadership of Governor Yemi Cardoso, these restrictions were removed.
“The Dollar limit on your GTBank Naira Card is now $20,000 quarterly,” the notice read.
The increase in the spending limit to $20,000 per quarter will give GTBank Naira cardholders an opportunity to make more transactions online with ease, as before now, it was pegged at $15,000.
By Aduragbemi Omiyale
A new product known as Asset Financing Solution, tailored for those in the Nigerian transportation and logistics sector, has been introduced by a technology-enabled financial institution, FairMoney Microfinance Bank.
This initiative marks a significant expansion of FairMoney’s product ecosystem, moving beyond personal and working capital loans into commercial asset financing. By helping entrepreneurs build a verifiable credit history through vehicle repayments, the company is supporting financial inclusion and participation within the formal economy.
Asset Financing Solution forms part of the lender’s broader commitment to responsible lending and structured financing for eligible operators, as it expands access to asset financing for mobility entrepreneurs across the country through an application process subject to credit assessment and eligibility requirements.
The sector continues to record sustained market activity with reported growth rates of approximately 9.87 per cent–10.1 per cent in late 2025.
As road freight and passenger transport remain the nation’s dominant modes of transit, FairMoney’s new initiative aims to improve access to structured asset financing for thousands of transporters and delivery merchants. By providing access to business-use transport assets, the product helps address limited access to structured financing for micro-SMEs and supports activities within Nigeria’s logistics and mobility sector.
Mobility entrepreneurs seeking to acquire vehicles can now access flexible repayment plans through an application process that is subject to credit assessment and eligibility requirements.
Leveraging its technology-enabled onboarding and risk assessment capabilities, applicants can move through a structured onboarding and evaluation process.
Repayment structures are specifically tailored to the daily and weekly cash-flow realities of mobility businesses, supporting operational continuity and business growth within structured repayment arrangements.
The programme is open to eligible applicants via the FairMoney Business platform and through designated partner hubs across major cities.
“Our mission has always been to increase financial inclusion and create income opportunities by supporting individuals and small business operators in growing their businesses.
“With this solution, we are focused on supporting small business operators and mobility entrepreneurs who contribute significantly to transportation and commercial activity. The solution is designed to provide structured asset financing for eligible operators,” the Managing Director of FairMoney MFB, Mr Henry Obiekea, stated.
Speaking further, he said, “The intra-state transportation sector in Nigeria is experiencing sustained demand and market activity, offering opportunities for mobility and transport operators. The Asset Financing Solution ensures that costs are spread into manageable instalments, thereby supporting small business operations and broader economic participation.”
By Modupe Gbadeyanka
Two former employees of Access Bank Plc, identified as Mr Obadofin Daniel Bamise and Ms Hadiza Oyiza Yakubu, have been convicted and sentenced by Justice A.A. Bello of the Kaduna State High Court for theft.
The convicts were found guilty of a separate one-count charge of theft against them by the Kaduna Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).
They carried out unauthorised withdrawals on the accounts of 305 customers of Access Bank, who were beneficiaries of the federal government’s Palliative Scheme, totalling N7.8 million. They posted the unauthorised withdrawals to the Palliative Scheme’s coordinators’ accounts.
After pleading “guilty” to the charges against them, Justice Bello convicted and sentenced both of them to seven years imprisonment each, with an option of a N50,000 fine each.
According to a statement from the EFCC, the charge against Mr Bamise was, “That you, Obadofin Bamise Daniel sometime between the 5th of November, 2024 and 23rd of January, 2025 in Kaduna, within the jurisdiction of this Honourable Court, while being an employee of Access Bank Plc did in your capacity as an employee committed theft in the sum of N433.000 being property in possession of Access Bank Plc and you thereby committed an offence contrary to Section 274 of the Kaduna State Penal Code Law, 2017 and punishable under same Law.”
The charge against Ms Yakubu was, “That you, Hadiza Oyiza Yakubu sometimes between the 5th of November, 2024 and 23rd of January, 2025 in Kaduna, within the jurisdiction of this Honourable Court, while being an employee of Access Bank Plc did in your capacity as an employee committed theft in the sum of N806,000 being property in possession of Access Bank Plc and you thereby committed an offence contrary to Section 274 of the Kaduna State Penal Code Law, 2017 and punishable under same Law.”
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