Business
Stanbic IBTC Capital Leads Successful Registration of RMB Nigeria Issuance SPV PLC’s ₦40 Billion Multi-Instrument Issuance Programme

L-R: Oyinda Akinyemi, Executive Director, Stanbic IBTC Capital; Bayo Ajayi, Chief Executive Officer, Rand Merchant Bank and Yetunde Ogunremi, Executive Director, Treasurer, Rand Merchant Bank during the signing ceremony of Rand Merchant Bank’s ₦40 Billion Multi-Instrument Issuance Programme, with Stanbic IBTC Capital acting as Lead Issuing House.
RMB Nigeria Issuance SPV PLC (the “Issuer”), a funding vehicle incorporated to support RMB Nigeria (the “Bank”) in raising financing from the public debt capital markets, achieved a significant milestone with the successful registration of its ₦40 billion Multi-Instrument Issuance Programme (the “Programme”). Stanbic IBTC Capital Limited (“Stanbic IBTC Capital”) acted as Lead Issuing House while RMB Nigeria acted as Joint Issuing House on the Programme.The establishment of the Programme will support the asset growth and liability management objectives of RMB Nigeria by enabling the issuance of debt instruments and structured notes.Speaking on the Programme registration, Bayo Ajayi, Chief Executive Officer, RMB Nigeria commented: “This Programme provides us the opportunity to access liquidity from the Nigerian debt capital markets to support our strategic and financing objectives. We remain committed to effectively partnering with our clients, and with this enhanced capacity to raise long term funding, we are in a stronger position to support our clients with their long-term loan needs. We believe in the Nigeria growth story and the establishment of this Programme presents a unique opportunity for investors to join us on this journey by participating in the issuances.

L-R: Akinola Akinboboye, Partner Financial Advisory, Deloitte West Africa; Oyinda Akinyemi, Executive Director, Stanbic IBTC Capital; Bayo Ajayi, Chief Executive Officer, Rand Merchant Bank; Yetunde Ogunremi, Executive Director, Treasurer, Rand Merchant Bank; Taiwo Gabriel, Executive Director, Risk and Compliance, Rand Merchant Bank and Abiola Baruwa, Company Secretary, Rand Merchant Bank during the signing ceremony of Rand Merchant Bank’s ₦40 Billion Multi-Instrument Issuance Programme, with Stanbic IBTC Capital acting as Lead Issuing House.
We are also thankful for the support of Stanbic IBTC Capital and all our advisers who partnered us through this process.”Also speaking on the Programme registration, Oyinda Akinyemi, Executive Director, Stanbic IBTC Capital, said: “This initiative by RMB Nigeria is yet another noteworthy example set by the Bank in relation to global best practice in treasury management and innovation, to cope with evolving market conditions. Stanbic IBTC Capital has been at the forefront of advising our clients on staying ahead of changing market trends, and we are pleased on this occasion to have been of assistance in shaping RMB’s funding strategy.

L-R: Chidi Iwuchukwu, Executive Director, Investment Banking Division, Rand Merchant Bank; Oyinda Akinyemi, Executive Director, Stanbic IBTC Capital; Bayo Ajayi, Chief Executive Officer, Rand Merchant Bank; Yetunde Ogunremi, Executive Director, Treasurer, Rand Merchant Bank; Abiola Baruwa, Company Secretary, Rand Merchant Bank and Taiwo Gabriel, Executive Director, Risk and Compliance, Rand Merchant Bank during the signing ceremony of Rand Merchant Bank’s ₦40 Billion Multi-Instrument Issuance Programme, with Stanbic IBTC Capital acting as Lead Issuing House.
We thank RMB Nigeria for trusting Stanbic IBTC Capital and the other professional parties in seeing the Programme registration to a successful completion.”
Business
Verve Expands Into UEMOA: Connecting Millions to Seamless Digital Payments Across West Africa

Verve, Africa’s largest domestic payments card and token brand, has taken a significant step towards expanding its Pan-African presence by officially launching card acceptance across countries in the West African Economic and Monetary Union (UEMOA) region, including Senegal, Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, and Togo, among others. This marks a significant milestone in Verve’s journey to building a truly interconnected African payment network.

This expansion is powered by a strategic partnership with GIM-UEMOA, the regional payment switch facilitating interoperability and financial inclusion across the UEMOA region, connecting banks and financial institutions in Francophone Africa. GIM-UEMOA provides the ideal platform to scale Verve’s reach in the region, offering a seamless connection between financial institutions, businesses, and consumers. At its core, this partnership is about expanding access, unlocking opportunity, and driving shared progress.

Through this collaboration, Verve is enabling millions of new users and businesses to access seamless, secure, and inclusive payment experiences, while reinforcing its commitment to innovation that meets the continent’s evolving financial needs.For consumers, this means the ability to use Verve cards across borders, connect with a wider network of merchants and services, and participate more fully in Africa’s growing digital economy. For businesses and financial institutions, it opens the door to new growth opportunities by providing access to a broader, digitally enabled customer base.This isn’t Verve’s first bold step. Over the years, the brand has formed strong alliances with global platforms such as Google, AliExpress, Temu, Netflix, Amazon Prime, and Spotify, among others. These partnerships allow Verve cardholders to easily access digital content, lifestyle perks, and everyday functionality, positioning Verve as not just a payment card, but a trusted lifestyle companion.In keeping with its commitment to consumer engagement, Verve continues to celebrate and reward its users through initiatives like the Verve GoodLife Promo, a campaign that rewards cardholders with exciting perks for everyday transactions. With the expansion into UEMOA, users across these new markets, including tourists, visiting consumers and entrepreneurs, can now look forward to the same rewarding experience that Verve cardholders enjoy in other parts of Africa.As Verve’s presence grows across the continent, so does its promise to deliver more value, convenience, and memorable experiences to users in every market it enters. This expansion into the UEMOA region brings Verve closer to its vision of connecting Africa through secure and inclusive digital payment solutions. It’s not just about where Verve cards can go, it’s about what they can empower people to do.Whether you’re a bank looking to broaden your digital offerings, a business aiming to reach more customers, or a consumer ready to experience smarter payments, Verve is here to empower your next step. Join the revolution!
Business
Interswitch Group Bolsters Talent Ecosystem in Africa, Hosts Fourth Edition of Career Fair.

Interswitch Group, one of Africa’s leading integrated payments and digital commerce companies, has reinforced its commitment to harnessing a robust talent pool by empowering the Nigerian workforce to pursue personal and professional success. The company affirmed this as it announced the Interswitch Career Fair 4.0 set to hold at the Landmark Event Centre, in Victoria Island, Lagos on Saturday, May 10, 2025. The highly anticipated Career Fair event, tagged “The Talent Paradox: Enabling the Talent Ecosystem in Africa” aims to spotlight the various resources and insights available to skilled, career-driven individuals and young professionals to strategically align them for the workplace of today and the future. Going into the fourth edition, the event will host experts from Interswitch Group including Franklin Ali, Group Chief Human Resources Officer and Oremeyi Akah, Chief Customer Officer, alongside other industry experts including Lanre Basamta, Co-Founder, Optimus AI Labs; Isioma Utomi, CEO, Catalyst Experience Solutions; Adora Ikwuemesi, CEO, Kendor Consulting; Olushola Olaleye, Business Consultant and Gloria Babarinde who will draw from their prolific experiences and expertise to unravel the theme in a panel session. The event will also feature other engaging segments such as keynote and thought leadership sessions bordering trends and masterclasses on upskilling and thriving in the workplace amongst other pertinent discussions. Attendees can also look forward to the job fair where potential candidates can have face-to-face interactions with the expansive pool of hiring experts on ground. The Fair also presents an opportunity to network with like-minded individuals as well as a resourceful platform for the active exchange of knowledge and ideas. Mitchell Elegbe, Founder and Group Managing Director at Interswitch, underscored the essence of the Interswitch Career Fair 4.0 event, highlighting that the programme is a pathway to recognize and equip emerging talents and raise transformative leaders that consistently innovate to solve Nigeria’s biggest challenges and impact the African labour market overall. According to Elegbe, “The Interswitch Career Fair reflects our deep-rooted commitment to nurturing African talent. This platform was conceptualized to cast the spotlight on individuals ready to lead, manage effectively, and create meaningful impact wherever they go. It’s more than just an event—it’s a launchpad for career advancement, connecting high-potential professionals with the right opportunities.”Also commenting on the programme, Franklin Ali, Group Chief Human Resource Officer, Interswitch, said that “This Career Fair goes beyond simply matching people with jobs—it’s designed to equip ambitious talent with the tools and skills needed to excel in the ever-evolving world of work. As a company that values the power of collaboration, we’ve joined forces with respected partners like ALX, Philips Consulting, Udemy, GLSS and Pluralsight to enrich the experience and broaden what’s possible for every attendee.Interswitch Group, which recently bagged the 2024 ‘Happiest Workplaces around the Globe’ award, remains unwavering in its mission to Inspire Africa to greatness. Interested participants are encouraged to follow Interswitch’s social media handles for more information about the upcoming Career Fair.
Business
Trump suspends tariffs for several countries, increases China’s rate to 125%

n a bold move, President Donald Trump has raised tariffs on Chinese goods from 104% to 125%, while temporarily suspending tariffs on numerous other countries.
Trump revealed his decision on Wednesday, stating that the tariff freeze would apply to all nations previously affected by the duties.
The announcement follows his shock move earlier this month, when he introduced a 10% baseline tariff on all countries, with rates reaching as high as 50% for the “worst offenders.”
The tariff on Chinese imports, which started at 10% in March, has escalated progressively through 20%, 54%, 104%, and now to 125%—all in retaliation against China’s countermeasures.
In response, Beijing has implemented an 84% tariff on US goods, set to take effect on April 10.
Additionally, China has issued travel warnings for its citizens planning to visit the United States.
Trump criticized China’s actions as a “lack of respect” and emphasized that the US could no longer tolerate such behavior.
“At some point, hopefully soon, China will realize that the days of exploiting the U.S.A. and other countries are over,” he said in a statement.
The White House also mentioned that more than 75 countries have reached out to negotiate a resolution to the ongoing tariff dispute.
Trump confirmed that the suspension for these countries, as well as China’s new tariff hike, would go into effect immediately.
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