Banking
Unity Bank Targets 5 Million Women MSMEs in South West With Yanga Account
By Modupe Gbadeyanka
No fewer than 5 million Micro, Small and Medium Enterprises (MSMEs) being operated by women in the South West region of Nigeria would be engaged by Unity Bank Plc.
The Nigerian retail lender disclosed this at the launch of the Yanga Account in Ibadan, Oyo State.
The account package was specifically designed by the financial institution to promote women MSMEs and create a unique proposition.
At the official launch of the Yanga Account recently in Abuja, a movie star in Nigeria, Sola Sobowale, was unveiled as the brand ambassador.
Yanga Account is a complete suite of services designed to promote financial inclusion among women through stress-free savings and investment, access to the services of dedicated sales agents, agency banking services close to the location of their businesses, special business seminar and training on how to grow business, access to microloans, customized debit cards and other bundled e-banking products.
At the official unveiling of the Yanga Account for the South West region held in Ibadan on Tuesday, the bank pledged its unwavering commitment to empowering women in order to enable them to overcome every obstacle of accessing quality Banking services needed to assist the growth of their businesses.
As part of the efforts to connect directly with the target market, the star actress who is now known as ‘Mama Yanga’ undertook a market tour to interact with the women and gain first-hand knowledge of how the product is being received in the market.
Speaking at the event in Ibadan, the Managing Director/Chief Executive Officer of Unity Bank Plc, Mrs Tomi Somefun stated that the “Yanga Account heralds a new dawn for my fellow women operating businesses in South West Nigeria.”
She noted that “the Yanga account is open to all market women in farming, fashion design, tailoring, frozen food, pastry and baking, cosmetics, jewellery designs and making, skincare, eateries and restaurants, etc. whether living in the communities or cities.”
She reiterated that “the Yanga Account is conceived and designed for the financial literacy and empowerment of Nigerian women. It is about making sure that our women who make up 55 per cent of the financially excluded Nigerians have access to basic and life-changing financial services.”
Also speaking, Sola Sobowale invited all Nigerian women who operate businesses in the South West to embrace the incredible opportunities offered by the Yanga account to grow their businesses.
She said: “This is the first time that a bank will specifically design a product to cater to women and I am excited about the inherent benefits of this account and the endless possibilities that it brings to my fellow women. I invite all my fellow women in South-West Nigeria to sign up for the Yanga Account and watch their levels change.”
On his part, Group Head, Retail, SME Banking and E-Business, Unity Bank Plc, Mr Funwa Akinmade said: “Female-led MSMEs in South West Nigeria continue to play pivotal roles in the contribution of the MSMEs to the economy of Nigeria and that has informed this special activation of Yanga account in Ibadan today.
“The Yanga account is a well-packaged banking product that combines several services that most small businesses owned by women will need to become profitable. We are optimistic that Ibadan women and all others across South West Nigeria will embrace the Yanga Account and leverage its full benefits to grow their businesses.”
With the launch of the Yanga account, Unity Bank said it underscores its retail strategy which continually aligns with the vision of the Central Bank of Nigerian and the financial services ecosystem to provide needed support for Nigerian women by enhancing access to wealth-creating opportunities in the financial services sector.
Industry watchers believe the retail product has the potential to aggressively deepen financial inclusion, which recent research by Enhancing Financial Innovation & Access (EFInA) has shown “can benefit individuals, families, and businesses, supporting key outcomes such as GDP growth.”
By Aduragbemi Omiyale
A Côte d’Ivoire subsidiary of Zenith Bank Plc will be launched on Wednesday, April 29, 2026, after obtaining an operating licence in December 2025 from the country’s Ministry of Finance and Budget.
The country’s subsidiary will operate from its headquarters at SCI Wall Street, Avenue Noguès, Plateau, Abidjan.
Zenith Bank is in Côte d’Ivoire to deepen its presence in Francophone West Africa and strengthen financial intermediation within the West African Economic and Monetary Union (WAEMU).
Positioned as a gateway for cross-border trade and investment, Zenith Bank Côte d’Ivoire will focus on corporate banking, trade finance, local and offshore banking services, and structured financial solutions tailored to businesses operating across Africa and internationally.
Expected at the official opening ceremony tomorrow are senior government officials and regulators from Nigeria and Côte d’Ivoire, continental business leaders, and members of the diplomatic community, highlighting the strategic economic ties and investment opportunities between the two markets.
The Côte d’Ivoire launch forms part of Zenith Bank’s broader continental growth strategy. In addition to the Anglophone countries where it currently operates, and in line with the expansion into the Francophone market, the bank has commenced its entry process into the CEMAC (Central African Economic and Monetary Community) region, with Cameroon as the focal point.
It was gathered that the new subsidiary will be headed by Mr Cédric Tano, a seasoned banking executive with over two decades of experience.
“We are proud to establish Zenith Bank’s presence in Côte d’Ivoire at a time of strong economic growth in the country and increasing regional integration.
“Our focus is to showcase the Zenith brand as a customer-centric institution that combines global best practices with deep local insight.
“We are well-positioned to support businesses with innovative financing solutions, facilitate cross-border trade, and contribute meaningfully to the growth of the Ivorian economy and the wider WAEMU region,” Mr Tano commented.
Also speaking, the chief executive of Zenith Bank, Ms Adaora Umeoji, said, “From the very beginning, our founder and chairman, Mr Jim Ovia, set out to build a truly global brand with a strong presence across Africa and key international markets.
“The launch of Zenith Bank Côte d’Ivoire is a bold step in realising that vision; opening a strategic corridor into Francophone West Africa and reinforcing our commitment to facilitating trade, investment, and enterprise growth across the continent.
“As we continue to expand thoughtfully and strategically, we remain focused on delivering world-class banking solutions that connect African businesses to global opportunities.”
By Modupe Gbadeyanka
Some entrepreneurs across diverse sectors recently completed a three‑week intensive capacity‑building programme organised by Ecobank Nigeria, in partnership with DHL.
The event was put together to equip Small and Medium Enterprises (SMEs) with the skills, tools, and insights required to scale beyond local markets and compete globally.
The focus was on critical growth enablers such as cross‑border trade, e‑commerce opportunities, logistics, customs procedures, and international shipping—key pillars for sustainable expansion in today’s increasingly connected global marketplace.
In one of the sessions, titled Trade and Grow Beyond Borders: Welcome to E‑commerce, the Relationship Channel Manager for DHL Customers/Global Express, Mr Charles Eke, underscored logistics as a critical success factor for SMEs, identifying key challenges such as access to finance, markets, and efficient logistics.
He also provided practical guidance on customs processes, international shipping, documentation, and shipment tracking, while emphasising the immense opportunities e‑commerce presents for cross‑border expansion.
According to him, international markets often offer greater growth potential than domestic markets for well‑positioned SMEs.
The Head of SMEs, Partnerships and Collaborations at Ecobank Nigeria, Mrs Omoboye Odu, described the programme as a catalyst for meaningful growth and mindset change.
“Over the past three weeks, something truly powerful has taken place. This programme has gone far beyond knowledge sharing—it has inspired new thinking and unlocked fresh possibilities for our SMEs. The message is clear: no business should be limited by geography,” she said.
Mrs Odu reiterated Ecobank’s deliberate focus on SMEs as key drivers of Africa’s economic development, saying, “Beyond building capacity, we are intentionally opening doors by connecting businesses to new markets and opportunities. With our presence in over 30 African countries, coupled with integrated payment, trade finance, and e‑commerce solutions, Ecobank is uniquely positioned as the Pan‑African bank enabling seamless cross‑border trade.”
One of the participants, Ms Dolapo Fatoki of Debsfray, a Lagos-based fashion brand, described the initiative as impactful, practical, and transformative.
“The sessions were highly informative. I gained a deeper understanding of documentation and pricing, two areas that previously posed major challenges for me. The collaboration between DHL and Ecobank has been exceptional and truly beneficial,” she noted.
Similarly, the Creative Director of FC Accessories, Mr Tosin Olukuade, described the programme as “an eye‑opener,” adding that it reshaped his approach to business growth.
“The insights I gained will help me scale my business exponentially. I am grateful to Ecobank and DHL for creating this opportunity,” he said.
Reflecting on the programme’s digital focus, the chief executive of Needle Point, Mrs Theresa Onwuka, highlighted how the sessions broadened her outlook on growth and innovation.
“The class was so good—it got my mind thinking of possibilities. My main takeaway is clear: digitalisation is the way forward,” she remarked.
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to submit monthly reports on failed electronic transactions across digital channels, as part of new compliance measures introduced in its revised Guide to Charges.
The directive was contained in a circular titled Exposure Draft of the Guide to Charges by Banks and Other Financial Institutions in Nigeria, 2026 (The Guide) and signed by the Director of the Financial Policy and Regulation Department, Mrs Rita Sike.
According to the apex bank, Chief Compliance Officers and Heads of Information Technology in financial institutions are required to jointly render electronic reports of all failed transactions conducted via Automated Teller Machines, Point of Sale terminals, mobile channels, web platforms, and other electronic systems.
The circular read, “The Chief Compliance Officer and Head Information Technology shall jointly render monthly reports electronically, of all failed electronic transactions via various e-channels (ATM, PoS, mobile, web/internet and related channels) that originate or terminate in the institution.”
The reports are to be submitted to designated CBN email addresses, reinforcing the regulator’s push for stricter monitoring of service failures across the banking system.
Beyond the reporting requirement, the CBN also introduced broader accountability measures, placing responsibility on top management of financial institutions to ensure strict adherence to the new guide.
Executive Compliance Officers or Managing Directors are mandated to cascade compliance expectations across all business units and ensure that banking systems are configured to apply only approved charges.
Specifically, the regulator directed that Heads of Information Technology must ensure that “all systems configurations only capture and allow posting of charges as permitted and described in this Guide,” while Chief Compliance Officers are to monitor strict compliance with the framework.
The revised guide, effective May 1, 2026, replaces the 2020 version and provides a comprehensive framework for charges across banking and other financial services.
The CBN explained that the review was aimed at promoting a safe and sound financial system, encouraging innovation, and expanding financial inclusion through lower tariffs on micropayments and transactions.
It added that the revised framework would strengthen oversight and accountability, encourage the adoption of electronic payment channels, and accommodate new industry participants.
Business Post also reported that the regulator has raised ATM card fees by 50 per cent to N1,500 and scrapped the monthly maintenance charge.
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