Banking
Sterling Bank Donates 1400 Uniforms To Oyo Street Sweepers
By Modupe Gbadeyanka
The management of Sterling Bank Plc has donated overall uniforms to street sweepers in the employ of Oyo State Government in what the bank calls its contribution to the government’s environmental sanitation efforts.
Deputy Governor of the State, Mr Alake Adeyemo, while receiving the 1400 uniforms on behalf of the Governor, Mr Abiola Ajimobi, lauded the bank for being alive to its Corporate Social Responsibility (CSR).
He reiterated the resolve of the state not to allow a relapse into the dark days when the state, especially the capital, Ibadan, was adjudged to be one of the dirtiest cities in the country.
Mr Adeyemo stated that the Governor would continue to partner corporate bodies and citizens of the state to ensure a clean, safe and healthy environment.
He disclosed that the government placed premium on clean and safe environment, stressing that one cardinal goal of the administration was the full implementation of sustainable environmental policy.
According to him, this would be a marked departure from what it inherited from the past administration.
He said, “Our administration, under the leadership of the Governor, Senator Abiola Ajimobi, had recognized and placed premium on clean, safe and healthy environment.
“This is so because one cardinal goal of any responsible government should be to facilitate sustainable development, engendered by habitable environment that will attract investors and improve the living standard of the people.
“This vision formed the basis of our sustainable environmental policy, which is a clear departure from the erstwhile policy directions of past administrations, which led to Oyo State being regarded as one of the dirtiest states in the federation.
“The driving elements of this new policy direction are the tripod of our administration’s agenda of restoration, transformation and repositioning of the state.”
While appreciating the bank’s compliance with its corporate social responsibility in donating the items, the deputy governor called on other corporate bodies to emulate the gesture of Sterling bank for the benefit of the larger society.
He challenged the people of the state to continue to be faithful to the weekly and monthly environmental sanitation exercise, which, he said, had helped to transform the state to a new haven for industrial giants.
Managing Director of Sterling Bank, Mr Yemi Adeola, who was represented by the bank’s Business Executive (South-West), Mrs Temiwunmi Tope-Banjoko, said that the donation was a priority concern for the bank as its contribution to the sustenance of the clean environment under the present administration.
She commended the state government for changing the landscape of the entire state to enviable scenery, adding that the partnership between the government and the bank was aimed at enthroning a habitable and healthy environment for the citizens.
She said, “I want to commend the governor for his efforts at changing the landscape of the entire state, in spite of the challenges being experienced both in the private and public sectors.
“These efforts are, undoubtedly, a reflection of an unparalleled determination and commitment of the governor to put in place a state that we can all be proud of.”
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Banking
Proxy Share Acquisition: Nothing to Worry About—LivingTrust Mortgage Bank Assures Shareholders
By Aduragbemi Omiyale
The board of LivingTrust Mortgage Bank Plc has assured the investing public, particularly its shareholders, that its operations are not being affected by reports of an alleged proxy share acquisition surrounding the organisation.
It was claimed that an investor attempted to take over the control of the real estate lender with funds alleged to have been from questionable sources.
In a clarification to the investing public through the Nigerian Exchange (NGX) Limited on Tuesday, April 7, 2026, the company said it cannot confirm if security operatives investigating the claims have submitted their report to the Central Bank of Nigeria (CBN).
However, it assured that, “Our bank is stable and that in the event of any change in ownership, we will file the necessary formal notifications and publish detailed announcements.”
In the notice today, LivingTrust Mortgage Bank narrated that, “As a company listed on the Growth Board of NGX, there are regular movements on the bank’s shareholder register.
“The bank’s monitoring of material movements showed an acquisition of 2.24 per cent of its shareholding by Apel Asset Ltd-Nominee, as per its register of June 25, 2025, as obtained from our registrar. However, one month later, in July 2025, the register obtained from the bank’s registrar showed the same shares to be listed in favour of Deril Academy Limited. We are further aware that in July 2025, Deril Academy Limited teamed up with some other shareholders in a takeover attempt via a matter filed in the Federal High Court, Lagos. The attempt failed, and the matter has now been withdrawn.
“Please note that we do not reveal the veil of corporations of juridical entities investing in the shares of the bank, below the level considered statutorily significant.
“While the CBN assesses the source of funds invested in financial institutions, persons purchasing shares of less than 5 per cent of total shareholdings in the open market are not required to be reported to the CBN.”
Business Post reports that the majority shareholders of LivingTrust Mortgage Bank, formerly Omoluabi Mortgage Bank, are Cititrust Holdings Plc and the Osun State Government.
By Adedapo Adesanya
Nigeria’s Bank Verification Number (BVN) registry surged to 68.6 million in the first three months of 2026 from 67.8 million in the last quarter of 2025, reflecting continued uptake of the unique identity platform for bank customers amid new regulatory directives to strengthen the Nigerian financial landscape further.
Data released by the Nigeria Inter-Bank Settlement System (NIBSS) showed that the database expanded by 754,128 in the first quarter of the year.
Last year, the sector recorded 4.3 million new registrations, largely driven by the Non-Resident Bank Verification Number (NRBVN) initiative, which allows Nigerians in the diaspora to register remotely, thereby boosting cross-border financial inclusion.
The data for fresh enrolments in 2026 showed a slowing rate of registrations, with fewer than one million recorded in the first three months. The total number of active bank accounts in Nigeria stood at over 320 million as of March 2025, highlighting a gap between BVN coverage and the broader banking population. While a single BVN can be linked to multiple accounts, unlinked accounts remain a challenge for financial oversight.
Last month, the Central Bank of Nigeria (CBN) introduced a revised BVN regulatory framework to strengthen identity verification and fraud prevention. Among the new provisions, only individuals aged 18 and above are eligible for BVN enrolment, and customers are now permitted to update the phone number linked to their BVN only once.
The apex bank also directed financial institutions to maintain a temporary watch list of BVNs associated with suspected fraudulent transactions. Affected BVNs remain on the list for up to 24 hours, during which owners are contacted for clarification before further action is taken.
According to the CBN, the measures are designed to tighten fraud monitoring, protect transaction integrity, and enhance identity management across Nigeria’s banking system.
By Modupe Gbadeyanka
One tune that is on the lips of young and energetic Nigerians is the new ALAT: The Evolution jingle.
The melodious clink was designed to capture the energy of a smarter and more seamless banking experience. It is bright, catchy, and full of life.
The lender said the ALAT: The Evolution jingle is more than just music, as it represents a clear statement of intent. It signals a shift towards banking that feels natural, responsive, and in tune with the user.
As customers update their app and explore ALAT: The Evolution, the jingle serves as a reminder that a better, smoother way to bank is already here. Wema Bank is not just evolving its technology; it is shaping how banking feels.
It was stated that the tune was introduced to mark the next phase of the financial institution’s digital banking journey.
Everyday banking can often feel routine or even stressful, with multiple steps and delays slowing things down. The ALAT: The Evolution jingle reimagines that experience with a lively and confident tone that mirrors the app’s capabilities.
From voice banking with SAW to Tap and Pay and bank uptime prediction, each feature is echoed in the rhythm and flow of the sound. It brings to life the speed, convenience, and reliability that define this new phase of ALAT: The Evolution.
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