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Women-Owned MSMEs: DBN AND FRANCE JOIN FORCES TO EMPOWER WOMEN ENTREPRENEURS
Development Bank of Nigeria Plc (DBN), the French Republic and the French Development Agency (AFD) are pleased to announce their joint commitments towards the empowerment of Nigerian women entrepreneurs and the recognition of their pivotal role in fostering economic growth, innovation and social equity.
On December 11th, 2023, under the high patronage of His Excellency, the French Ambassador to Nigeria, Marc Fonbaustier, DBN’s Managing Director, Dr Tony Okpanachi and AFD’s Country Director, Xavier Muron convened at DBN’s Headquarters in Abuja to sign a €50 million credit line and a €825 000 technical assistance and capacity building grant. Through these financings, the two institutions are collaborating to provide tailor-made tools to strengthen access to financing for women MSMEs while developing a gender mainstreaming approach with financial and non-financial services specifically adapted to women’s needs.
As a public development bank, DBN constitutes a strategic stakeholder to better take into consideration gender issues within the financial sector and support the financing of MSMEs contributing to the empowerment of women.
Dr. Tony Okpanachi, highlighting DBN’s role and commitment to empowering women in Nigeria stated: “At Development Bank of Nigeria, we are unwavering in our commitment to empowering women MSMEs in Nigeria. We believe that women are the backbone of our economy, and by supporting them, we are not only promoting gender equality but driving sustainable economic growth.”
“Our bank is dedicated to providing financial inclusion and access to capital for women entrepreneurs, thereby enabling them to grow their businesses and create jobs. We are also passionate about supporting the girl child, recognising that education and economic empowerment are key to unlocking their full potential.”
Xavier Muron, AFD’s Country Director, took the opportunity to highlight that “by providing women with tools, resources, network and mentorship, AFD is committed to participating in the creation of a more inclusive and resilient global economy while encouraging women to bring their unique perspectives and ideas to the table.”
The project provides a unique approach to support DBN in catalyzing financing towards MSMEs and in particular underserved clients. To this point, part of the financing will be exclusively allocated to first-time borrowers. In addition, priority for access to financing and capacity building to micro and small enterprises has been a strong focus of the design of this financial product. Lastly, the credit line aims at providing medium to long-term financing to what is today a much-underserved segment of the population.
All in all, the support to DBN in its role as a second-tier public development bank will make it possible to seek a transformational movement to integrate gender issues and redirect financial flows within the Nigerian financial system via the PFIs.
With this in mind, it was only natural that this highly anticipated event occurred during the 16 days of activism against gender-based violence (25 November – 12 December). Indeed, research has proven that reducing economic dependence, promoting gender equality and empowering gender champions, are some of the key structural solutions to fight against the symptoms and the roots of GBV. To this point, M. Marc Fonbaustier, the French Ambassador to Nigeria reiterated the long-term commitment of France to support all of its partners towards “economic empowerment of women as it builds independence, increases confidence and provides for a more equal world.”
Dr. Okpanachi acknowledged the dedication of France and AFD, to ensure a smooth and efficient implementation of this program: “DBN welcomes this partnership as it shows the strong will of key partners to implement Sustainable Development Goal 5 – Gender Equality and empowerment of all women and girls. The partnership underscores a collective action to work together towards creating a more inclusive and prosperous society for all.”
Meanwhile, Mr Muron commended “the professional approach adopted by DBN which led to this signing ceremony which is the beginning of a very crucial program which will, without a doubt, enhance the capacity of DBN, the Participating Financial Institutions and the Women MSMEs benefiting from it.”
Development Bank of Nigeria (DBN) is a wholesale development finance institution set up by the Federal Government of Nigeria (FGN) in collaboration with global development partners to address the major financing challenges facing Micro, Small and Medium Scale Enterprises (MSMEs) in Nigeria. DBN’s objective is to alleviate financing constraints faced by MSMEs and small Corporations in Nigeria through the provision of financing and partial credit guarantees to eligible financial intermediaries on a market-conforming and fully financially sustainable basis.
The Agence Française de Développement (AFD – French Development Agency) funds, supports, and accelerates the transitions to a fairer and more sustainable world – aligned with the Sustainable Development Goals. Focusing on climate, biodiversity, peace, education, urban development, health and governance, our teams carry out more than 4,000 projects in France’s overseas departments and territories and another 115 countries. In this way, it contributes to the commitment of France and the French people to support sustainable development goals.
AFD has been present in Nigeria since 2008 with its main office based in Abuja along with an additional branch in Lagos. Its main sectors of intervention in the country are financial services, energy, higher education & vocational training, agriculture, water supply as well as clean transportation. For more information, visit https://www.afd.fr/en.
Essentially, gender equality is a priority for the French government. Internationally, the French Ministry for Europe and Foreign Affairs delivers on this commitment through its feminist foreign policy. France is advocating gender equality in international forums and wants this goal to be taken into account in all issues, including inequality reduction and sustainable development, peace and security, defence and promotion of fundamental rights, and climate and economic issues. By 2025, France is committed to ensuring that 75% of the projects funded by France’s official development assistance help to improve gender equality.
The collaboration between DBN and AFD will no doubt impact women-owned businesses in Nigeria by addressing not only their financing challenge but their capacity to scale as well.
NEWS
EID EL-ADHA 2026: Governor Dauda Lawal Urges Increased Prayers for Peace, Hails Return of Displaced Communities
As Muslims across the world celebrate Eid al-Adha 2026 yesterday, Zamfara State Governor Dauda Lawal has called on the faithful to intensify prayers for lasting peace in the state and Nigeria at large. The governor made the appeal in a statewide broadcast on Wednesday, ahead of the Eid prayers.
Eid al-Adha, known as the “Festival of Sacrifice,” is observed annually by Muslims on the 10th day of Dhulhijjah, the final month of the Islamic lunar calendar. The festival commemorates the unwavering obedience and devotion of Prophet Ibrahim (A.S.), who was willing to sacrifice his son Isma’il in submission to Allah’s (SWT) command an act replaced by divine intervention with a ram.
In his address, Governor Lawal reflected on the spiritual significance of the season, noting that the sacrificial rite not only honours Prophet Ibrahim’s submission but also forms an essential part of the Hajj rituals for pilgrims currently in the holy cities of Mecca and Medina.
“I felicitate with the Muslims on the occasion of Eid al-Adha 2026,” the governor said. “The sacrifice performed during Eid is symbolic of Prophet Ibrahim’s submission and is also part of the Hajj rites for pilgrims.”
The governor specifically called on residents of Zamfara, particularly those undertaking the pilgrimage, to remain steadfast in prayers for the state and the nation.
“We have made significant progress in the fight against banditry, which is why dispersed communities are now returning to their homes,” Lawal stated. He cited a recent milestone: “Last week, we successfully returned thousands of internally displaced persons (IDPs) to their ancestral community of Fegin Kanawa Village in Gusau Local Government Area after over a year of displacement.”
According to officials, the village had been abandoned due to repeated bandit attacks, forcing residents to seek refuge in overcrowded camps or host communities. The successful return of the IDPs marks one of the administration’s key achievements in its ongoing security and reconstruction efforts.
Governor Lawal expressed gratitude to Allah for enabling the state to witness what he described as a “historic” achievement the airlift of pilgrims from Gusau International Airport, which has now resumed full operations after previous disruptions.
“We are committed to ensuring the safe return of all displaced persons to their homes. Such successes are only possible due to our collective prayers. I urge us to pray more, especially during sacred religious festivals,” he added.
The governor concluded his message with warm wishes: “I wish everyone a peaceful Eid celebration.”
Following the broadcast, Governor Lawal joined thousands of worshippers at the Gusau Central Eid prayer ground, where he observed the two-unit Eid prayer and listened to the customary sermon (khutbah). Security was notably heightened across the state, with checkpoints and patrols deployed to prevent any attacks during the celebrations.
Zamfara, like much of Nigeria’s North-West region, has faced years of insecurity fueled by banditry, kidnapping, and communal clashes. The governor’s emphasis on prayer reflects a broader strategy that combines military offensives, community dialogue, and spiritual advocacy to restore normalcy.
NEWS
Wema Bank’s One-Day MD/CEO, Chinmamanda Ozoakpata, Unveils New Benefits for Children
At Wema Bank, we have spent the last few years reimagining what Children’s Day can look like for Nigerian children.What started as a celebration has evolved into an intentional platform designed to build confidence, encourage leadership, promote financial literacy and create meaningful opportunities for children across different age groups.This year, we have raised the bar even higher. At Wema Bank’s Children’s Day Special Event held on Monday, May 25, 2026, our One-Day MD/CEO, Chinmamanda Diamond Ozoakpata, used her first official act in office to unveil a series of new initiatives designed to reward, educate and empower children through our Royal Kiddies account and ALAT Xplore platform.From year-long cash rewards and celebrations of academic excellence to financial literacy materials and STEM challenges, here are the new incentives that were announced and how to qualify:1. Birthday Cash Gift (Royal Kiddies Account Holders)Wema bank is putting real money behind milestone birthdays. Active Royal Kiddies account holders turning 5 will receive ₦5,000, while those turning 10 will receive ₦10,000 automatically, as a birthday cash gift. The initiative runs from May 2026 to May 2027. Importantly, active account holders who already turned 5 or 10 before May 2026 this year will also receive their reward this month.To qualify: Your child must hold an active Royal Kiddies account and be turning (or have turned) age 5 or 10 within the qualifying window.2. ₦100,000 Reward for Top Common Entrance Students (Royal Kiddies Account Holders)In a move that directly ties financial reward to academic achievement, Wema Bank will reward the top 100 students in the National Common Entrance Examination (NCEE) with ₦100,000 each. This initiative commences in June 2026.To qualify: Your child must be among the top 100 performers in the NCEE and hold a Royal Kiddies account.3. Financial Literacy Book Launch – Money Adventures (Royal Kiddies Account Holders)Wema Bank officially launched Money Adventures, a financial literacy book created for children aged 6 and above, at the Children’s Day event. Designed to make money conversations simpler and more engaging for young readers, the book introduces children to foundational concepts around saving, money management and responsible financial habits in a fun, age-appropriate way. To qualify: To receive a copy of this book, your child must hold an active Royal Kiddies account or have their Royal Kiddies account newly activated.4. Evolve School Tour STEM Challenge (ALAT Xplore Account Holders)The Bank also unveiled the Evolve School Tour STEM Challenge. Designed for secondary school students aged 13–17, the programme will run across six schools nationwide with existing STEM programmes. Through hands-on STEM competitions and school engagements, the initiative aims to promote innovation, technology awareness, financial literacy and responsible savings culture. There will also be monetary prizes to be won at the end of the challenge.To qualify: Your child must be an ALAT Xplore customer, aged 13–17, and attend one of the participating schools with an active STEM programme.Over the last four years, Wema Bank has consistently treated Children’s Day as more than a calendar moment. From the One-Day MD/CEO initiative to school tours, leadership experiences and child-focused financial literacy campaigns, the Bank has continued to expand how it supports children meaningfully.Yet, this is the first time the bank has included a Children’s Day initiative that runs for an entire year. Combine that with a six-figure academic reward, a published financial literacy resource, and a nationwide school tour, and it becomes clear: this is the most comprehensive, most impactful package of benefits Wema Bank has ever delivered to its youngest customers. It signals a growing commitment by Wema Bank to create experiences for children that extend far beyond celebration and leave a lasting impact long after Children’s Day is over.
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Zamfara State Approves Enhanced Pension Payouts for Retired Public Workers
In a decisive move aimed at alleviating the economic burdens of retired public servants, Zamfara State Governor, Dr Dauda Lawal, has officially approved increased monthly pension payments for all former workers from both state and local government offices. The approval follows an extensive financial review of retirees’ living conditions, with particular attention to those in lower-income brackets who have been disproportionately affected by the prevailing cost-of-living crisis.The decision was precipitated by the findings and recommendations of a special committee empaneled to evaluate the welfare situation of pensioners across the state. The committee’s report highlighted acute financial distress among aging retirees and called for immediate remedial action. In response, the state government has authorized a substantive upward adjustment in monthly pension stipends.This increment aligns seamlessly with the Federal Government’s Minimum Wage Act of 2024, which explicitly recommended an additional monthly sum of at least N32,000 for pensioners. Governor Lawal has opted for full implementation of this advisory for all retired state and local government employees a policy intervention expected to benefit thousands of households across Zamfara. The state government has subsequently issued binding directives to all relevant agencies to ensure the expeditious and seamless disbursement of the enhanced payments without procedural delays.Speaking on the development, the Honorable Commissioner for Information and Culture, Mahmud Muhammad Dantawasa, characterized the policy as a tangible demonstration of Governor Lawal’s unwavering commitment to improving the quality of life for both active and former government workers. According to the Commissioner, the administration operates on the principle that dignified retirement includes access to basic necessities and financial comfort. Beneficiaries across all local government areas have been assured of prompt payment once implementation commences.
