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Beyond Banking, Union Bank Launches Future-Forward Innovative Co-Creation Hub, SpaceNXT
Beyond Banking, Union Bank Launches Future-Forward Innovative Co-Creation Hub, SpaceNXT
…reiterates commitment to innovation and technological advancement in Nigeria
Lagos, Nigeria – Leading financial institution, Union Bank has launched a technological and innovation hub known as SpaceNXT. Built to promote innovation and encourage collaboration within the tech ecosystem in Nigeria, SpaceNXT is a future-forward purpose designed co-working hub for innovators, creators and techpreneurs.
Located within the Union Bank Head Office in Lagos Nigeria, SpaceNXT was set up to provide an enabling environment where tech enthusiasts, visionaries and creators can converge for the propagation of new ideas. It is a launching pad for innovators to collaborate, develop and improve on ideas around digital systems and technology.
Lola Cardoso, Executive Director and Head, Retail Banking and Digital, Union Bank, spoke on the benefits of SpaceNXT to the tech ecosystem. She said,
“Globally, technology and innovation are key drivers of growth, and here in Nigeria, the tech community is at the forefront of our ongoing digital revolution. To unlock the massive potential of the sector, we must create an enabling environment that promotes collaboration and fosters strong partnerships within the ecosystem, this is why we launched SpaceNXT – to serve and enable the growth of the tech community.”
The launch event which held on April 7th 2022 had Special Guest of Honour, Mr.Tunbosun Alake, Special Adviser on Innovation and Technology to the Governor of Lagos State, in attendance. He officially opened the space alongside the executives of the Bank. Speaking during the ribbon cutting ceremony, he said,
“This is indeed a laudable moment for Union Bank. With the launch of SpaceNXT, Union Bank has established itself as a bonafide trusted partner for the future generation. SpaceNXT is a sandbox for culture change and an enabling lever to drive innovation and technology in Nigeria.”
SpaceNXT was conceived as part of the Bank’s mission to enable success for the tech community in Nigeria by providing a space that would foster collaboration within the ecosystem. Union Bank’s Chief Executive Officer, Emeka Okonkwo, shared the Bank’s reason for launching the Space at this time. According to him,
“For us at Union Bank, we believe the best way to predict the future is to create it. This is why we are pushing beyond banking to take a strategic position as enablers of success within the tech and innovation industry. We are excited at the opportunity to enable the ecosystem and co-create a future that is brighter than we can imagine today”.
Besides being a hub for sharing and generating innovative ideas, SpaceNXT will also serve as a venue for tech and innovation events, hackathons, trainings and meetings. Union Bank remains committed to the acceleration of the technological landscape in Nigeria.
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Fidelity Bank Partners Aircraft Finance Germany to Grow African Aviation Industry
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Leading financial institution, Fidelity Bank Plc, has announced the signing of a strategic partnership agreement with Aircraft Finance Germany (AFG) to advance the aviation sector in Nigeria and across Africa by both organisations.
The agreement was formally executed by Mr. Christian Hatje, Managing Director, Business Aviation and SVP Commercial, representing AFG; and Mr. Stanley Amuchie, Executive Director and Chief Operations and Information Officer of Fidelity Bank Plc at a signing ceremony in Germany recently.
Speaking at the signing ceremony, Mr. Christian Hatje stated, “This partnership marks a significant milestone in our commitment to Africa’s aviation future. Partnering with Fidelity Bank, Nigeria’s leading aviation financier, we are confident in our ability to structure solutions that will drive meaningful growth across the sector.”
Through this partnership, both institutions will work closely to identify, finance, and grow aviation opportunities across the continent. The collaboration aims to provide innovative leasing and financing solutions that support airlines, aviation operators, and related stakeholders in expanding capacity, modernizing fleets, and strengthening operational and fleet efficiency.
“Fidelity Bank remains dedicated to supporting the aviation industry through tailored financial solutions. Our collaboration with AFG strengthens our capacity to provide sustainable financing that will contribute to the expansion of aviation in Nigeria and across Africa,” explained Mr. Stanley Amuchie.
This partnership reflects a shared vision to foster long-term development, stimulate investment, and create sustainable opportunities within the African aviation industry.
Nigeria remains a strategic hub for aviation development in Africa. By combining AFG’s leasing expertise with Fidelity Bank’s deep sector knowledge and financial strength, the partnership is positioned to unlock new growth pathways and enhance the sustainability of the aviation ecosystem.
This collaboration in Africa forms part of AFG’s broader global portfolio expansion strategy, reflecting the company’s continued commitment to structured aviation investments across multiple international markets.
Fidelity Bank is regarded as a market-leader in the Nigerian aviation industry with a long list of interventions across the value chain. Its aviation finance solutions support aircraft acquisition and leasing, route expansion, aviation infrastructure development, cargo and export enablement; and partnership structures for large projects.
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GTCO Plc Releases 2025 Full Year Audited Result …Declares Another Record Dividend of 12.76k;
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Re-affirming Unrivalled Capacity to Creating Value₦ Lagos, London – 31st March 2026Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).The Group reported profit before tax of 1.23trillion underpinned by strong growth in core earnings, with interest₦ income and fee income increasing y-o-y by 23.2% and 25.9%, respectively. The performance reaffirms its capacity to generate sustainable earnings and builds on the momentum from 2024, when GTCO delivered a record profit of 1.27trillion, driven in part by 517.5billion in fair value gains, which did not recur in 2025.₦ ₦The Group’s 2025 profit after tax came in at 865.75billion against 1.02trillion recorded in 2024. The profit after tax₦ ₦ reflects the impact of recent fiscal policy adjustments to the taxation of investment securities, notably withholding tax on short-term instruments. However, when normalised for this effect, underlying earnings remain robust, driven by growth in core operating income. The Group continues to maintain a well-structured, healthy, and diversified balance sheet in all the jurisdictions wherein it operates a Banking franchise, as well as across its Payments, Pension and Funds Management business verticals. Total assets and shareholders’ funds closed at 1₦ 7.8trillion and 3.₦ 4trillion, respectively. Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 43.8%, likewise asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.4% and 5.0% at Bank and Group level in FY-2025 (Bank, 3.5%, and Group, 5.2% in December 2024). Cost of Risk (COR) also improved to 2.2% from 4.9% in December 2024. In specific terms, the Group’s loan book (net) grew by 12.4% from 2.79trillion as of December 2024 to₦ 3.13trillion in December 2025. Similarly, deposit liabilities grew by 23.8% from 10.40trillion to 12.87trillion during₦ ₦ ₦ the same period.Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: “Our 2025 result underscores the resilience and depth of our earnings capacity. Following a record 2024, which included significant fair value gains, our focus has been on strengthening the sustainability of our earnings by driving growth across our core banking and ecosystem businesses. The strength of our underlying earnings, despite a stronger Naira and tighter regulatory parameters, reflects the quality of our franchise and the discipline with which we execute our strategy. Importantly, this strong core earnings performance underpins our capacity to sustain and grow shareholder returns. Our record dividend payout this year is not only a reflection of our current profitability but also of our confidence in the Group’s long-term earnings potential. Looking ahead, we remain focused on scaling our ecosystem, driving innovation across our financial services platform, and delivering consistent, high-quality earnings that support superior value creation for our shareholders.”Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Post-Tax Return on Equity (ROAE) of 28.3%, Post-Tax Return on Assets (ROAA) of 5.3%, Capital Adequacy Ratio (CAR) of 43.8% and Cost to Income Ratio of 27.9%.Guaranty Trust Holding Company Plc is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, the Group provides a wide range of banking and non-banking services including payments, funds management, and pension fund administration. GTCO Plc is committed to delivering long-term value to stakeholders while driving growth and development across its markets.
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Zenith Bank and Ford Foundation Honour Unsung ‘Sheroes’ with Inaugural Woman of Power Award
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On Saturday, March 28 2026, Zenith Bank held the climax of its month-long activities to commemorate March as women’s month. The event which held at The Civic Centre, was the second of such activity at the Centre, having held the International Women Day Seminar on the 9th of March, 2026. The event was to honour and give awards to exceptional women who have shown resilience in their communities with heir vocation impacting lives sustainably.Speakers after speakers eulogized Zenith Bank for its people-centred activities and appreciated the Ford Foundation for identifying the Bank as a worthy partner in its push to support women in their peculiar cultural and economic conditions across the world.Themed “Celebrating Resilience, Leadership, and Generosity” the award recognised 19 women who were selected from the six geo-political zones in trade, petty manufacturing, education, and agriculture. These women demonstrated extraordinary strength, leadership, and impact despite the significant challenges posed by the difficult economic situation in the country.According to the organisers, the initiative provided a platform to showcase unsung “Sheroes” — everyday women who are making meaningful contributions in their communities and fields. These include market women, small-scale business owners, community leaders, educators, healthcare workers, and many others whose vital roles often go unnoticed.The sponsors of the event noted that each awardee exhibited excellence in several key areas, including leadership and initiative, community impact, innovativeness and resourcefulness, perseverance, integrity, community trust, and philanthropy.Among those honoured were: Mrs Regina Amankulor, a retired nurse empowering young people in Umuode-Nsulu community, Isiala Ngwa North LGA, Abia State; Mary Matanmi, Coordinator of the Nigeria Association of Hairdressers, Barbers and Cosmetologists, Lagos State chapter; Ifeanyi P. Ugwueze, a Guidance Counsellor and Life Coach who continues to thrive despite blindness and is currently pursuing a doctorate degree.
Others include: Amina Musa, a trade educator based in Karonmajiji, AMAC, Abuja; Adenike A. Lambo, the Iyaloja of Ilorin; Sadiya Abubakar, an educator in Jibi (Deidei), Bwari Area Council, FCT; Erikan Idem Andrew, a market woman with significant community impact in Port Harcourt; Ngozi B. Nwankpa, an Aba-based fashion designer; Hadiza Umar, a Development Specialist based in Kaduna, Kaduna State; Joy C. Ezenwa (aka Mama Amala), a trader at Sabon Gari Market, Kano; Shola Esther Babalola (Mama Sho), promoter of natural honey and founder of the Mama Sho Honey brand in Lagos; Josephine Ugwu, a staff member of the Federal Airports Authority of Nigeria (FAAN), honoured for her honesty in recovering and returning millions of naira mistakenly dropped by passengers at Murtala Muhammed Airport, Lagos. And many others.In her keynote address, the Group Managing Director of Zenith Bank, Dame Dr. Adaora Umeoji, OON, who was represented by Executive Director, Adobi Nwapa, praised the awardees and reaffirmed the bank’s strong commitment to women’s empowerment. She noted that “Zenith Bank’s commitment to gender inclusion is not a rhetoric but one of the ethos that the bank holds very dearly”. In her words, she also said, “Zenith Bank has a 50-50 gender ratio with women occupying strategic positions in the bank’s management and Board up to the current Group Managing Director being the very first female to hold that position.The Regional Director of the Ford Foundation, Dr Chichi Aniagolu, described the Woman of Power Award as an eye-opener, noting that her team’s journey across the country revealed the vast and often overlooked facets of human potential among Nigerian women.Both the Ford Foundation and Zenith Bank Plc have pledged to sustain and grow the initiative in the coming years.Zenith Bank used the forum to notify the women of their various women-targeted products and initiatives, including the Z-Woman initiative, and the Bank’s 19-year sole sponsorship of the NBBF Women’s Basketball League; thus, further highlighting its position at the forefront of women empowerment and economic inclusion across the country.
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