Banking and Finance
Fidelity Bank Commences Disbursement of FGN MSME Intervention Funds

Reaffirms Support for Women Entrepreneurs
Tier One Lender, Fidelity Bank Plc, has commenced the disbursement of the Federal Government of Nigeria’s (FGN) MSME Intervention Funds, administered by the Bank of Industry (BOI), to qualified SMES with a strategic focus on empowering women-owned businesses across the country.
The FGN MSME Intervention Fund is designed to provide accessible financing to micro, small, and medium enterprises (MSMEs) across all 36 states of the federation.
The intervention aligns with Fidelity Bank’s commitment to inclusive economic growth and its long-standing support for Nigeria’s SME sector. In this phase of the disbursement, the bank is prioritizing women entrepreneurs, reinforcing its belief in the catalytic role of women-led enterprises in driving sustainable development and job creation.
Speaking on the development, Osita Ede, Divisional Head, Product Development at Fidelity Bank Plc, said, “As a bank deeply committed to the growth of SMEs, we are proud to partner with the Federal Government and the Bank of Industry on this critical intervention. For this phase, we are placing women at the forefront because we recognize their resilience, innovation, and pivotal contributions to wealth creation and employment generation in Nigeria.”
Fidelity Bank has also put in place a robust structure to ensure seamless onboarding and fund disbursement. Leveraging its nationwide branch network, digital banking platforms, and experienced relationship managers, the bank is poised to reach and support entrepreneurs across urban and rural communities.
The bank’s emergence as a critical player in the disbursement of the FGN MSME intervention Fund strongly aligns with its ongoing initiatives as the leading supporter of SMEs in Nigeria. Recently, the Fidelity SME Empowerment Programme (FSEP) was launched at its Gbagada SME Hub in Lagos.
This flagship initiative provided 100 growth-ready SMEs with ERPRev-enabled POS systems, business software, receipt printers, barcode scanners, inventory support, bookkeeping and branding training, three-day masterclasses, and six months of post-installation monitoring—all at no cost.
Earlier in May 2025, Fidelity Bank also signed an MoU with SMEDAN, Nigeria’s Small and Medium Enterprises Development Agency, to deliver SME-friendly low-interest financing, capacity-building support, and market access for SMEs referred under the agreement.
“Our vision goes beyond financing. We are building an ecosystem of support for SMEs by offering capacity-building programs, mentorship opportunities, and market access. Women entrepreneurs, in particular, will benefit from a larger share of the fund as part of our broader strategy to promote gender inclusion,”Ede added.
The FGN MSME Intervention Fund will further advance the bank’s commitment to empowering small and medium-sized enterprises by expanding access to affordable financing and strategic support. Through this fund, Fidelity Bank aims to deepen its impact on Nigeria’s MSME ecosystem, fostering sustainable growth, job creation, and economic resilience across the country.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the 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.
Banking and Finance
Fidelity Bank Hosts Black-Tie Gala Honouring Afreximbank President Prof. Benedict Oramah

L -R: Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole; the outgoing President and Chairman of the African Export-Import Bank (Afreximbank), Professor Benedict Okechukwu Oramah; his wife, Mrs. Chinelo Oramah; Lagos State Governor, Mr. Babajide Sanwo-Olu; Managing Director and Chief Executive Officer, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe; Minister of State for Finance, Dr. Doris Nkiruka Uzoka-Anite; and Minister of Art, Culture, Tourism and Creative Economy, Ms. Hannatu Musawa; at a black-tie dinner hosted by Fidelity Bank to celebrate the retirement of Prof. Oramah in Lagos recently.
In recognition of his unwavering commitment to Africa’s development, Fidelity Bank Plc recently hosted a grand black-tie dinner to celebrate the retirement of Professor Benedict Okechukwu Oramah, outgoing President and Chairman of the African Export-Import Bank (Afreximbank), after ten years of transformative leadership.
Held at the Lagos Continental Hotel on Thursday, 2 October 2025, the event was themed “Celebrating a Titan” and drew a distinguished gathering of dignitaries, captains of industry and international guests. They came together to honour a man widely regarded as one of Africa’s most influential financial leaders.
Welcoming guests to the event, Dr. Nneka Onyeali-Ikpe, Managing Director and Chief Executive Officer of Fidelity Bank Plc, described Prof. Oramah as “a towering figure in Africa’s economic renaissance.” She noted that his tenure at Afreximbank was defined by bold ideas, strategic foresight and a relentless pursuit of inclusive growth. “From Cairo to Kigali, Lagos to Lusaka, his influence has touched lives, empowered businesses and strengthened the very fabric of African integration,” she said. She also highlighted his role in pioneering initiatives such as the Pan-African Payment and Settlement System and his advocacy for intra-African trade and creative industries.
Among the guests in attendance were the Lagos State Governor, Mr. Babajide Sanwo-Olu; Ogun State Governor, Prince Dapo Abiodun; Minister of Art, Culture, Tourism and Creative Economy, Ms. Hannatu Musawa; Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole; and Minister of State for Finance, Dr. Doris Nkiruka Uzoka-Anite.
Special recognition was given to Mrs. Chinelo Oramah, whose steadfast support was acknowledged as instrumental to her husband’s success. “Her dedication to maintaining the home front has been pivotal,” said Dr. Onyeali-Ikpe, “as Prof. Oramah pursued the transformational initiatives that have distinguished his tenure.”
The evening featured tributes from several guests including Mr. Babajide Sanwo-Olu; Chairman of Vista Group Holding, Mr. Simon Tiemtore; and Chairman of Fidelity Bank Plc, Mr. Mustafa Chike-Obi, who described Prof. Oramah as “the most consequential African person in the last 10 years.”
In his remarks, Prof. Oramah expressed deep appreciation for the honour. “I want to thank the board and management of Fidelity Bank for this honour. It is not always that when a leader of an institution gets to the twilight of his tenure that those he works with deem it important to say we appreciate you. I really cherish this event. On behalf of my family and wife as well as the Afreximbank family, I say thank you.”
He also reflected on the longstanding relationship between Afreximbank and Fidelity Bank. “Our relationship with Fidelity Bank dates back to the 1990s and it has grown from year to year. Fidelity Bank is one of the trusted partners that we have. Fidelity Bank has helped us to achieve some of the things we have achieved here in Nigeria. When my dear sister, Nneka, took over, she did more than everyone expected. The transformation that we continue to see in Fidelity Bank is something that makes all of us proud. With all of the activities that you do that complement what we do at Afreximbank and the type of financing that supports what we do at Afreximbank, I believe that the partnership in the years ahead will grow even stronger.”
The evening was anchored by broadcast journalist Ojinika ‘Ojy’ Okpe and comedian and actor Okechukwu Anthony Onyegbule, popularly known as Okey Bakassi. The celebration reached its climax with a musical performance by Nigerian highlife singer Chinedu Okoli, professionally known as Flavour N’abania.
Banking and Finance
Wema Bank Expands SME Empowerment to Ghana with NBC Trade Fair

As part of its commitment to supporting female entrepreneurs through inter-Africa trade, Wema Bank is extending the reach of women-led businesses with the NBC Trade Fair across Nigeria and beyond.
The bank is now set to make a bold move with the Ghana edition, scheduled to hold on October 4th and 5th, 2025, at The Palms Convention Center, Accra.
For the first time, the Wema X NBC trade fair will be bringing together a dynamic mix of fashion, food, skincare, and lifestyle vendors to create a vibrant marketplace in Ghana, where SMEs can showcase their products, attract new customers, and build valuable connections. True to Wema Bank’s tradition, the fair will go beyond commerce, offering free BVN registration, paid NIN registration, on-site account opening, instant virtual naira and dollar cards, spin-the-wheel giveaways, exclusive gift items, and access to the SARA community for women.
Attendees who shop with their Wema Bank debit cards at the fair will also stand a chance to win exciting rewards. For those who do not yet have a Wema Bank account, opening one ahead of the fair unlocks even more exclusive benefits. Simply download ALAT to get started. These unique offerings from Wema Bank are designed to foster financial inclusion, support women-led enterprises, and equip businesses with the tools to thrive in competitive markets.
The Ghana edition of the Wema Bank x NBC Trade fair is more than just a fair it is a statement to the bank’s commitment to uniting African entrepreneurs and expanding opportunities beyond Nigeria.
Banking and Finance
No More Account Maintenance Fees: Sterling Bank Gifts Nigerians on Independence Day

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Lagos – Nigeria: Sterling Bank has once again redefined the boundaries of customerfirst banking in Nigeria by scrapping Account Maintenance Fees (AMF) across all personal accounts.
Just months after abolishing transfer fees on local online transactions in April 2025, the bank has dismantled yet another long-standing industry practice, cementing its role as the nation’s leading force for transparent, fair, and customer-focused banking.
This decision cuts at the heart of a revenue model that has long cost Nigerian
customers dearly. In 2024 alone, tier-1 banks raked in over ₦650 billion from account
maintenance and e-banking charges.
Sterling’s move rewrites Nigeria’s banking
rulebook while amplifying its bold stance: customers deserve freedom from too many
deductions and the right to keep more of their hard-earned money.
Abubakar Suleiman, Managing Director of Sterling Bank, explained the principle
driving this bold action: “Every fee we remove is one less barrier between our
customers and true financial freedom. This was the rationale behind eliminating
transfer fees in April, and it is the same principle we uphold as we eliminate account
maintenance fees.”
Obinna Ukachukwu, Growth Executive for Consumer and Business Banking at Sterling
Bank, reinforced this position: “This initiative is about building lasting relationships that
fuel sustainable growth.
We put transparency and customer value first, and in doing so, we are building a foundation that serves both our customers and Sterling’s future.”
As Nigeria marks another Independence Day, Sterling Bank presents this decision as
a declaration of financial independence for millions of Nigerians.
By freeing customers from deductions that silently erode their balances, Sterling is empowering them to keep and grow their wealth while redefining true financial freedom.
With two unprecedented moves in quick succession, the removal of transfer fees in
April and now the elimination of account maintenance charges, Sterling Bank continues to challenge the status quo and champion a new era of fairness in
Nigerian banking.
About Sterling Bank
Sterling Bank is a forward-thinking financial institution committed to transforming lives
through innovative solutions, exceptional service, unwavering integrity and a
steadfast focus on its HEART strategy. As pioneers in digital banking and financial
inclusion, Sterling continues to lead by example, proving that purpose-driven
leadership can unlock transformative outcomes for individuals, businesses, and
society at large.