Banking
Unity Bank’s Entrepreneurship Development Initiative Attracts NYSC Members
By Dipo Olowookere
The flagship youth entrepreneurship development initiative of Unity Bank Plc known as Unity Bank Corpreneurship Challenge has continued to attract several members of the National Youth Service Corps (NYSC).
The Corpreneurship Challenge was launched in 2019 and was specially designed to targets corps members, who are given grants expected to be channelled to profitable ventures to achieve the objectives of the scheme.
In a statement on Wednesday, the lender said it has committed over N30 million to empower the young Nigerians.
No fewer than 48 winners across 14 NYSC camps in 13 states and the Federal Capital Territory have been produced so far, with N4 million won by beneficiaries on four separate editions across four states and N10 million won by beneficiaries across the 10 states in the latest edition.
The initiative was piloted across four locations – Lagos, Ogun, Edo and Abuja – but has now expanded to six other locations including Akwa Ibom, Kano, Sokoto, Enugu, Sokoto and Osun.
Each of the locations produces winners of business grants of N200,000 for the second runner ups; N300,000 business grant for the first runner ups and a star prize of N500,000 for the overall winners.
The initiative has attracted massive interest and participation among the corps members, as over 10,000 applications have been received over the period.
The contestants’ business plans which usually come from any sector such as fashion, fish production, poultry farming, retail chains, piggery, beverages, etc. are assessed on originality, marketability, future employability potential of the product and knowledge of the business.
Speaking during the last edition, which held across 10 locations, the Divisional Head, Retail, SME Banking and E-Business Directorate, Unity Bank Plc, Mr Olufunwa Akinmade, said the competition has proved to have a great impact on youth empowerment in the country.
“The Unity Bank Corpreneurship Challenge has a very positive impact, not only for the corps members but for the entire youth population in Nigeria. It is a way to support the young men and women who are just graduating from university to grow.
“You will agree that it is not easy today to come out of the university and get a paid job, and so at this stage, it is good that the corps members imbibe that culture of entrepreneurship, and then with the financial support that they get from Unity Bank and the knowledge that they have acquired through the competition, they will be able to grow from job seekers to employers of labour,” he said.
Going down memory lane, Mr Akinmade recalled that what started in 2019 with a pilot in four states have now expanded to six additional states and is well on its way to achieving national coverage.
“We started Corpreneurship Challenge in 2019, with a launch in Lagos and in three other states which included Edo, Ogun, and Abuja. So, today we have expanded it to 10 locations, and it has been hugely successful.
“This is a programme that will stand the test of time, but all we are doing is to support NYSC corps members to start their own business no matter how small and then grow with it. Unity Bank will continue to be part of their journey, to offer them a start-up capital as well as business mentorship,” he said.
Meanwhile, the scheme has received the commendation of the Director-General of the NYSC, Brig.-Gen Shuaibu Ibrahim.
During a recent meeting with the Managing Director of Unity Bank Plc, Mrs Tomi Somefun, he applauded the financial institution for providing financial grants to the corps members.
According to him, the pilot project has created opportunities for self-employment and wealth creation and would reduce the number of unemployed graduates.
By Dipo Olowookere
One of the leading financial institutions in Nigeria, Access Bank Plc, has commenced the sale of commercial paper worth N194 billion under its N400 billion commercial paper programme.
Access Bank, one of the subsidiaries of a financial services provider, Access Holdings Plc, currently trades its equities at the NASD OTC Securities Exchange, with its share price closing flat at N19.30 per unit on Thursday.
Subscription for the debt instrument began on Wednesday, March 20, 2025, and will close on Tuesday, March 25, 2025.
The lender is offering the commercial paper for sale in two tenors; 180 days and 270 days, according to details of the exercise obtained by Business Post.
It is selling the six-month maturity at a discounted rate of 19.44 per cent and the nine-month tenor at 20.92 per cent. The minimum subscription is N5 million and in multiples of N1,000 thereafter.
Access Bank combines a strong retail customer franchise and digital platform with deep corporate banking expertise, proven risk management and capital management capabilities.
The lender was the first deposit money bank (DMB) in the country to meet the N500 billion minimum capital requirement of the Central Bank of Nigeria (CBN) for banks with international operations, with its share capital exceeding N600 billion.
The bank has been acquiring different financial institutions outside the country, including in South Africa, as part of its expansion drive.
It operates commercial banking services through a network of more than 700 branches and service outlets spanning three continents, 24 countries and over 60 million customers spread across Africa, Europe and Asia.
By Aduragbemi Omiyale
No fewer than 20 fresh millionaires have emerged in the Fidelity Bank Plc Get Alert in Millions (GAIM) Season 6 promo.
They winners were picked at the second and third monthly draws of the financial institution held at its corporate headquarters in Lagos recently.
The events were monitored by the representatives of relevant regulatory bodies, including the South-West Zonal Coordinator of the Federal Competition and Consumer Protection Council (FCCPC), Mrs Aboluwade Margaret; and the Principal Legal Officer of the Lagos State Lotteries and Gaming Authority, Oyinkan Kusamotu.
A statement from the lender disclosed that the 20 lucky winners were randomly selected through an electronic draw across Lagos, North, Abuja, South-West, South-South, and South-East zones and would be rewarded with N1 million each.
The Fidelity Bank GAIM campaign was launched in November 2024 and about N19.75 million has been won by 869 customers across different categories.
The GAIM 6 campaign, which will run until August 2025, is set to reward lucky customers with a total of N159 million.
Speaking at the draws, the promo Chairperson and Executive Director for Lagos and South-West, Fidelity Bank, Dr Ken Opara, noted that the GAIM 6 promo was designed to reward customers’ loyalty, encourage a savings culture, and promote financial inclusion across the country.
Dr Opara, represented by the Regional Bank Head for Ikoyi, Chetachi Okechukwu, said, “Fidelity Bank is dedicated to the financial well-being of our customers and this commitment inspired the launch of the GAIM Promo, designed to cultivate a strong culture of savings.
“Through this promo, customers have the chance to win substantial cash prizes up to N10 million by saving and transacting with their Fidelity Bank Savings accounts.
“In addition to the monetary rewards, winners will receive complimentary financial advisory services to secure and grow their wealth for the future.”
Fidelity Bank, ranked among the best banks in Nigeria, is a full-fledged Commercial Deposit Money Bank serving over 8.5 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
By Modupe Gbadeyanka
As part of its commitment to deliver quality service to customers, Rand Merchant Bank (RMB) has finally embraced the trade finance software of Union Systems Limited (USL), Kachasi.
The lender said its migration from Finastra’s Trade Innovation (TI) to USL’s Kachasi is a testament to the strength, reliability and competitiveness of this homegrown solution.
Kachasi is Nigeria’s leading indigenous trade finance software built to empower banks with seamless automation, regulatory compliance, and enhanced operational efficiency.
The platform has consistently proven to be a game-changer in the trade finance sector, offering key features such as full compliance with statutory and local regulatory requirements, end-to-end automation of trade finance processes, compliance with international trade regulations, advanced risk management and reporting tools, as well as seamless integration with core banking, local portals and third-party systems.
RMB said its decision to integrate Kachasi into its operations reinforces the platform’s reputation as a trusted trade finance solution.
As international trade becomes more complex, financial institutions require cutting-edge technology to navigate regulatory requirements, mitigate risks, and ensure operational excellence.
“This win affirms our commitment to revolutionizing trade finance automation across Africa. As more financial institutions embrace Kachasi, we remain dedicated to delivering cutting-edge solutions that drive efficiency and elevate the banking sector,” the financial institution stated.
Also, the chief executive of USL, Mr Chuks Onyebuchi, said, “This partnership with Rand Merchant Bank marks a defining moment, not just for Union Systems Limited but for African-built fintech solutions on the global stage.
“The successful transition from Finastra’s Trade Innovation (TI) to Kachasi proves that our homegrown technology is not only competitive but also better suited to the evolving needs of banks and trade finance institutions.
“Kachasi’s seamless automation, deep integration capabilities, and understanding of the local and international trade landscape make it the ideal choice for financial institutions looking to drive efficiency and innovation. This achievement is a testament to our commitment to building world-class technology, and we are excited to support RMB in revolutionizing their trade finance operations.”
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