Lagos, Nigeria – March 5, 2026 – Quest Merchant Bank Limited has successfully met the ₦50
billion minimum capital requirement mandated for merchant banks by the Central Bank of
Nigeria (CBN) strengthening the Bank’s capital base and reinforcing its capacity to support
Nigeria’s economic transformation.
This milestone reflects investors’ continued confidence in the Bank’s long-term strategy,
strong governance, and sustainable growth outlook. It also marks an important step in the
Bank’s post-divestment evolution under its new ownership, positioning Quest Merchant
Bank with the balance-sheet strength needed to execute its next phase of growth.
With a significantly enhanced capital base, Quest Merchant Bank is now better positioned to
underwrite larger transactions and expand its advisory, capital markets, and structured
financing capabilities across priority sectors of the Nigerian economy.
The CBN’s recapitalisation directive, which sets ₦50 billion as the minimum capital threshold
for merchant banks, is designed to reinforce the resilience, stability, and lending capacity of
Nigeria’s financial system. By meeting this benchmark, Quest Merchant Bank reinforces its
standing as a trusted financial partner in infrastructure, energy, manufacturing, and
corporate growth initiatives nationwide.
Afolabi Olorode, Acting Managing Director and Chief Executive Officer of Quest Merchant
Bank, described the achievement as a defining moment in the Bank’s evolution:
“This milestone marks a significant step forward for Quest Merchant Bank. Meeting the ₦50
billion capital requirement underscores investors’ confidence in our strategy and reflects the
strength of our governance and franchise.
With this strengthened capital position, we are equipped to play an even greater role in
financing key sectors of the Nigerian economy, enabling private enterprise, and supporting
sustainable economic expansion.
Our focus remains clear. We will continue to continue to help our clients succeed, while
serving as a trusted long-term partner in delivering sustainable growth.”
Quest Merchant Bank remains committed to responsible growth, innovation, and delivering
strategic financial solutions that empower businesses and institutions across Nigeria.

Wema Bank, Nigeria’s oldest indigenous, most innovative and pioneer of Africa’s first fully digital bank, ALAT, has announced the Top 10 nominees for its women-focused award initiative, SARA Gives to Empower Her Awards; the second edition of its She Empowers Her Award.

The Top 10 nominees are: Social Entrepreneur, Bosede Nwachi; NGO Founder, Chigozie Blessing; Customer Success Leader, Ekwutosi Cynthia; Coach and Public Speaker, Franca Ozini; Ted X Speaker, Hassanat Abubakar; Mentor, Ikepo Osawaye; Marketing Professional, Jennifer Edem Ekong; World Safety Ambassador, Ambassador Mabel Abel-Onaiwu, Founder, Patrick Stephen Purple Heart Foundation for Widows; Oluwaseun Joan Stephen and Virtual Assistant Coach, Victoria Ezechukwu-Obiya.

Launched in 2024 through the Bank’s women-focused proposition, SARA by Wema, the Wema Bank She Empowers Her Award is designed to celebrate, honour and spotlight women who have made significant impact or built a legacy of empowering other women personally and professionally. Deriving from the global IWD 2026 theme “Give to Gain”, Wema Bank’s 2026 IWD will focus on the topic “When She Gains, We Grow”, emphasising the need to give time, opportunities, resources and support to women. In line with this, this year’s edition of the She Empowers Her Award is tagged “SARA Gives To Empower Her Award & Grant”, spotlighting and rewarding women with a legacy of giving to other women.

To make the selection of winners for the SARA Gives To Empower Her Award & Grant, Wema Bank has incorporated a combination of public nominations, an internal jury and a voting process, all vetted by an independent audit body. The first stage was the call for nominees, which Wema Bank opened to the public on February 12, 2026, and closed on February 22, 2026. A pool of 2,332 nominations was received for a total of 351 women, who were then shortlisted to Top 10 based on their impact and clear track record of giving to other women.

The SARA Gives to Empower Her Award ceremony will take place on March 4, 2026, at the Wema Bank International Women’s Day event which holds in Lagos. The ceremony will culminate in the emergence of 5 winners.

Voting is now open for the 5 winners, and anyone can vote at https://bit.ly/VoteSARASheEmpowersHerAward

To find out the Top 5 winners of the SARA Gives to Empower Her Award, watch Wema Bank’s International Women’s Day Event live on YouTube @Wema Bank from 10 a.m. on March 4, 2026.

Leading financial institution, Fidelity Bank Plc, has announced the launch of the second edition of its flagship women-empowerment initiative, the HerFidelity Apprenticeship Programme 2.0 (HAP 2.0).

Designed to equip women with practical, income‑generating skills and structured pathways to entrepreneurship; HAP 2.0 will build on the success of its inaugural edition held in 2023.

Speaking with journalists at a media chat to herald the launch of HAP 2.0, the Divisional Head, Product Development, Fidelity Bank Plc, Osita Ede, explained that the initiative has been enhanced to deliver greater impact.

“HerFidelity Apprenticeship Programme 2.0 reflects our commitment to continuous improvement. Having evaluated feedback from the first edition, we have returned with stronger partnerships and deeper mentorship programmes to ensure that women acquire not just skills, but sustainable economic opportunities,” he said.

“At the heart of the programme is guided, real‑world learning. Participants will undergo intensive apprenticeship training under reputable institutions and industry experts across select fields such as hair styling, shoe making, auto mechatronics, and interior decoration,” Ede added.

He noted that HerFidelity Apprenticeship Programme 2.0 goes beyond skills acquisition by offering participants a wide range of business advisory services. These include business and financial literacy training, mentorship support throughout the apprenticeship journey, access to Fidelity Bank’s women‑focused and SME financial solutions, as well as guidance on business formalisation and growth strategies.

Further emphasising the bank’s vision, Ede said, “By integrating structured mentorship with entrepreneurial development, Fidelity Bank is positioning women not just as trainees, but as future employers, innovators, and economic contributors within their communities. This aligns with our mandate to help individuals grow, businesses thrive, and economies prosper.”

Interested participants are encouraged to indicate their interest by visiting https://bit.ly/Apprenticeshipbyherfidelity.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.