Union Bank of Nigeria has reiterated its commitment to entrepreneurship and women’s empowerment through its alpher initiative by sponsoring the Nigerian British Chamber of Commerce (NBCC) Women and Youth Entrepreneurship Development Centre (WYEDC) Cohort 2 Programme, which has graduated 125 entrepreneurs who have benefited from firsthand entrepreneurship training and business grants.

Small and medium-sized enterprises (SMEs) in Nigeria account for more than 50% of industrial employment and contribute approximately 48% to the country’s GDP.

This makes entrepreneurship one of the economy’s building blocks and is a testament to Union Bank’s unwavering dedication to national development in partnership with NBCC.

In her welcome speech, the Director General of NBCC, Dr. Ebere Njoku, reiterated NBCC’s commitment to supporting entrepreneurship, women’s empowerment, and youth empowerment, citing these as catalysts for economic development and sustainability.

She appreciated the sponsors, partners and facilitators who devoted their resources and time to upskilling the participants.

The entrepreneurship initiative stemmed from the visionary goal of Mr. Ray Atelly, President and Chairman of the Council, NBCC, FRPA, to provide entrepreneurship and grant opportunities to Nigerian women and youths.

Mr. Atelly told the graduates in his speech, “This is your chance, make sure you take it. Don’t let any obstacle stop you because there will be many; if you let it stop you, your dreams are not strong enough. You need to keep pushing, someday you will sit at the top of a conglomerate and people will aspire to be like you.”

Also in attendance was the NBCC’s Patron, Senator Akin Odunsi, FRPA, who congratulated the Cohort 2 graduates.

He said, “I encourage all of you not to take the training you have received for granted. Use it as a landmark opportunity to be a beacon of hope to others who look up to you.”

He also urged the Chamber to provide internship opportunities after the six-month entrepreneurship training in organisations for the incoming Cohort 3 and beyond.

He added that the internship experience will give trainees the unique chance to practice what they learned and, in return, benefit the organisations from their acquired skills.

The goodwill message at the graduation ceremony was delivered on behalf of Mrs. Yetunde Oni, Managing Director and Chief Executive Officer of Union Bank of Nigeria, by Mrs. Vivian Imoh-Ita, the Bank’s Head of Retail and SME Business, who appreciated NBCC for the life-transforming training they are providing to the youth and women entrepreneurs.

She further stated, “As a Bank, we understand that when we invest in women and youth entrepreneurs, we are investing in the most powerful catalysts of economic transformation. Through the Bank’s alpher initiative, we have enabled success for women-led businesses. In a volatile economy like Nigeria, the challenges facing entrepreneurs are dynamic and significant. As a Bank, we intend to prove that these barriers are not unconquerable and are growth opportunities.”

Three entrepreneurs, namely Evelyn Ekene Ani of Evani.Ng (First place), Martha Padonu of Beyond Photography (Second place), and Therietta Vershima of La Teriz (Third place) were declared winners of the Union Bank Business Pitch competition held during the graduation ceremony and were rewarded with funding for their businesses.

The Bank’s sponsorship of the training demonstrates its commitment to fostering a vibrant, innovative, and inclusive entrepreneurial ecosystem for women and all individuals.

Note to Editors:
alpher is the correct sentence case in the context of this press release. Please do not write as Alpher at any point.
About Union Bank Plc:
Established in 1917 and listed on the Nigerian Stock Exchange in 1971, Union Bank of Nigeria Plc. is a household name and one of Nigeria’s long-standing and most respected financial institutions. The Bank is a trusted and recognisable brand with an extensive network of over 300 branches across Nigeria. The Bank offers various banking services to individual and corporate clients, including current, savings, and deposit account services, funds transfer, foreign currency domiciliation, loans, overdrafts, equipment leasing, and trade finance. The Bank also offers customers convenient electronic banking channels and products, including Online Banking, Mobile Banking, Debit Cards, ATMs, and POS Systems.
More information can be found at: www.unionbankng.com
Media Enquiries:
Favour Ayeni
+234 0201 2716800
Email: mediarelations@unionbankng.com

Lagos, Nigeria – May 2025 – In a strategic move to address Nigeria’s infrastructure financing gap, First
Asset Management, one of Nigeria’s leading investment managers and a subsidiary of First HoldCo Plc.,
has officially launched the N20 billion Series 1 Offer under its N100bn FBN Infrastructure Fund Programme.
This groundbreaking initiative reflects the firm’s dedication to support critical infrastructure development
through long-term investment strategies tailored to Nigeria’s unique needs.
The Fund is designed to provide sustainable capital for large-scale projects across key sectors, including
renewable energy, power, recycling, waste management, and water resource development. These sectors
are critical to economic transformation, environmental sustainability, and fostering social impact. The
launch marks a significant milestone in First Asset Management’s mission to enhance Nigeria’s capital
markets by offering investors robust alternative investment opportunities.
Mr. Ike Onyia, Managing Director of First Asset Management, emphasized that the infrastructure fund
underscores the company’s strategic focus on contributing to national development through innovative
financial instruments. “This launch represents a bold step forward in actualising our promise to support
transformative projects that unlock economic potential, empower communities, and align with the global
drive towards sustainable finance,” he stated. Mr. Onyia further affirmed that the Fund would facilitate
private and public sector collaboration on capital-intensive projects that will create jobs, enhance social
welfare, and improve Nigeria’s environmental outlook through a strong focus on ESG (Environmental,
Social and Governance) principles.
The Series 1 Issuance offers a tenor of ten years and a minimum investment of N10,000,000.00, targeting
qualified investors seeking long-term returns. The Fund is structured to provide stable income derived
from infrastructure projects domiciled in Nigeria, with investments denominated in Naira. It is tailored to
attract pension funds, development finance institutions, institutional and professional investors, as well
as high-net-worth individuals who are eager to contribute to infrastructure growth while achieving
substantial financial returns.
In addition to offering a strong financial proposition, the Fund aims to directly support Nigeria’s
development priorities by financing projects that create employment, enhance productivity, mitigates
pollution, and improve the quality of life across communities. By adopting a sustainable and impact-driven
approach to investing, First Asset Management is setting the tone for a new era of development aimed at
capital mobilisation in Nigeria.
First Asset Management Limited reaffirms its position as a catalyst for progress in the Nigerian financial
ecosystem. Through initiatives like the FBN Infrastructure Fund, the firm remains dedicated in its
commitment to delivering innovative solutions, building investor confidence, and contributing to the
nation’s enduring growth trajectory.
To access this fund, kindly reach out to: infrafund@first-assetmanagement.com or Call – 02018886722

The leadership of Interswitch Group, one of Africa’s leading integrated payments and digital commerce companies, recently paid a courtesy visit to the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, at the FIRS Headquarters in Abuja.

The Interswitch delegation was led by the Group Managing Director and Chief Executive Officer, Mitchell Elegbe, and the Board Chairman and Lord-Lieutenant of Greater London, Sir Ken Olisa. Also present at the meeting was the Chief of Staff to the Executive Chairman and Coordinating Director of the FIRS Strategic Management Office, Tayo Koleosho.

The visit served as an opportunity to strengthen the relationship between Interswitch and the FIRS, reinforce ongoing collaboration, and reiterate Interswitch’s commitment to responsible corporate citizenship and support for national development efforts.

Speaking concerning the visit, Elegbe, remarked:

“We recognise the critical role that the FIRS plays in shaping Nigeria’s fiscal landscape, and we are honoured to engage at this level. At Interswitch, we see our work not just through the lens of innovation, but also through the responsibilities that come with growth. This visit reflects our belief that public-private partnerships are essential to building sustainable progress in the digital economy.”

The courtesy visit reflects Interswitch’s continued efforts to maintaining strong, transparent relationships with key regulatory institutions, while contributing meaningfully to Nigeria’s economic advancement. Interswitch remains committed to building solutions that support national objectives, aligning innovation with compliance, and driving transformation across Africa’s financial ecosystem.