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CBA FOUNDATION LAUNCHES SOCIAL ENTERPRISE INITIATIVE TO TAKE INTERVENTION AMONG UNDERPRIVILEGED WIDOWS TO NEXT LEVEL

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If indications from two separate but related events that were held last December are anything to go by, then one of Nigeria’s most vulnerable groups may be on the verge of experiencing better times. The events, hosted in two separate states/regions and separated by a 20-day interval, held at a time when self-splurging by many young Nigerians was at octane levels, and saw young men and women behind an NGO that caters to the welfare of underprivileged widows and their vulnerable children, passionately putting the widows’ needs above their wants.

The NGO, CBA Foundation, its dedicated and passionate staff, supporters and donors came out in their numbers on two dedicated days in December to give widows in selected communities in Lagos and Anambra a treat during the festive season. The Lagos outreach benefitted, in a unique way, widows in six communities in Ibeju-Lekki, namely: Badore, Iberekodo, Museyo, Magbon Alade, Okunola Ilado and Magbon Iga.

CBA Foundation seized the opportunity of the outreach to launch a new initiative it tagged Social Enterprise Initiative. The Initiative, which is aimed at ensuring the long-term sustainability of all efforts to protect and promote the welfare of widows as well as their children, is to cater to the financial, mental and physical health needs of beneficiaries. The Initiative is to provide comprehensive support, including health interventions, skill acquisition, business set-up, food and drinks, clothes and shoes, and general support for all affected widows.

The Founder/CEO of CBA Foundation, Mrs Chinwe Bode-Akinwande explained the reason for the Foundation’s shift to the new Initiative: “We have been doing outreaches and it has been non-stop, but the essence of this Social Enterprise Initiative is for the widows to have something that will sustain them even for a longer period, something that will give them hope, knowing that they have a sustainable source of livelihood and activities that remind them that they need to keep going.”
Continuing, she reveals when the idea for the new initiative began: “When the lockdown came last year [2020], we realised that there was a need again to have something sustainable for these women. With the Social Enterprise Initiative, we identify the skills they need to possess, and what they are passionate about, we also empower them with the necessary training and then set them up with all they need for the business. At the end of the day, they won’t have to wait daily for the CBA Foundation to give them food or clothing.”

Mrs Bode-Akinwande noted that the Initiative had been informed by a rigorous analysis of the data in their database, gathered over the years on widows whom they have reached out to and the support they have been receiving from both individual and corporate donors. She said that they had dimensioned all the critical issues from widows with critical needs, where the Foundation needed to begin its interventions, to widows who needed to be set up in business and to several widows’ children who needed to be reinstated back in school.

She also remarked that plans were underway at the Foundation to take the skills acquisition training further, beginning with adire-making (tie and dye). She announced that the Foundation would have a line of products that would be its adire pattern, displaying its unique signature. When sold, a percentage of the profit would be ploughed back into the Foundation as a constant stream of income.

The idea, the Foundation CEO stressed, would inspire the widows who show a keen interest in adire-making as they would be involved and exposed to its value chain which is essential to optimising their execution after their training. So, the adire-making training followed with tutorials on the step-by-step processes involved in it, materials needed and how to identify them, necessary safety precautions, various tie and dye techniques, packaging and distribution and how to make a living from adire-making.

For widows with impaired vision at the event, they were able to have free consultations with an ophthalmologist, get free eye tests and free reading glasses, courtesy of a partnership between FirstBank and Vision Spring. What followed when beneficiaries had the free reading glasses fitted and could see clearly were scenes similar to ones where people had experienced supernatural miracles. The ecstatic joy was palpable.

Take 59-year-old Hassanat Oyewunmi, for example. Tears of joy rolled freely from her eyes as she remarked that her farsightedness challenge had been addressed. She confessed excitedly that she felt “better, much better now with the glasses, and I can even see everyone clearly. It is good to know that we are not forgotten.”

Olabode Sadiat, 62, could not contain her joy as she wore her glasses and pointed in the distance, while indicating that she could see everything in her line of sight. She had suffered from a blurry vision that made reading her Bible difficult. “Nothing is more painful than not being able to read your Bible,” she had noted following the medical intervention.

The widows also received food, drinks, clothing and other materials that were distributed during the outreach. They were also given a final charge by Mrs Bode-Akinwande in which she reminded them that they were not alone and could always count on the support of the CBA Foundation.

In all, 165 widows across the six communities of Ibeju-Lekki benefitted on 4th December 2021 when the Lagos outreach was held. The Anambra outreach, on the other hand, benefitted 75 widows from four communities in the Nnewi area of the state. The outreach in Anambra was held on 24th December 2021.

Food items and financial empowerment constituted the bulk of the support CBA Foundation gave the Anambra widows to celebrate the festive season. The Anambra initiative has enjoyed tremendous support from a donor who has been consistent over the past four years. The Founder of the Foundation expressed gratitude to the donor while remarking that the outreach was being embarked on “at this festive season, so the widows can at least have something to eat and share with their loved ones.”

She continues: “We give hope to the hopeless. We are driven to support underprivileged widows to have a positive outlook on life despite the problems they experience by losing their loved one, mostly the breadwinner of the family.”

Both Lagos and Anambra outreaches were in some sense CBA Foundation’s way of giving underprivileged widows a “December to Remember” treat. Of course, that treat would at best be modest compared to how people who were not in any known vulnerable categories took care of themselves and themselves alone. Even with the best of intentions, CBA Foundation could only work with donations received from donors and supporters at a time of the year when most (young) people were dedicating more resources to the self-splurging that December has come to represent.

While it may not be in one’s place to dictate to others how they should spend the money they have worked so hard to make, one cannot help but try to point them to ways they could better dispense their hard-earned cash that would be in their enlightened self-interest. Or what sense is there in spending on oneself so lavishly and ostentatiously as though spending was going to go out of fashion at any moment only to provoke the have-nots to make one the target of their misdirected anger in a society that is largely dysfunctional?

A similar question should be addressed to the government and public officials: What sense is there in expending huge public resources on projects that have no direct bearing on the welfare of vulnerable groups when it only widens the gap between the haves (including public officials) and have-nots and exacerbates the conditions that heighten security concerns among the haves? At what point will the government, public officials and the privileged class start acting in their enlightened self-interest by committing genuine efforts to narrow the gap between those who have and those who can only wish?

It is high time public officials and the privileged began building strong coalitions and partnerships with groups and organisations that have been working to protect and support as well as advocate for the vulnerable for years now. They must begin to key into and support the organisations’ laudable initiatives that show great potential in helping to narrow the frightening gap.

CBA Foundation’s Social Enterprise Initiative represents one of such laudable initiatives. It is a well-thought-out initiative capable of transforming the existing arrangement for care and support of vulnerable groups such as underprivileged widows and their children and taking their welfare to the next level. The Government, individuals as well as corporate organisations must join hands with the Foundation if the Initiative is to have any chance of success.

Through its avowed commitment to “touching lives, giving hope…” not in mere words and empty promises but genuine and visible action on the ground (see ample examples captured on its website: www.cbafoundation.org), CBA Foundation has already demonstrated its readiness to do more with more support. It has shown that it is living true to its #CareIsAction DNA and can thus be trusted with more support. The Social Enterprise Initiative, therefore, enlists all to send an email at: [email protected] to partner with the Foundation in the drive to take the welfare of underprivileged widows to the next level where its long-term sustainability is guaranteed.

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National Credit Guarantee Company Limited: Powering Inclusive Growth Through Risk-Sharing Guarantees

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The National Credit Guarantee Company Limited (“NCGC” or the “Company”) is set to commence operations on 01 July 2025, as a specialised financial institution established to unlock access to credit and drive inclusive economic growth across Nigeria’s real economy. With an initial capital commitment of ₦100 billion, recently announced by President Bola Ahmed Tinubu, the NCGC is positioned to reshape how Micro, Small and Medium Enterprises (MSMEs), manufacturers, and strategic sectors access much-needed financing.

For decades, Nigerian businesses especially micro, small and medium scale enterprises have faced significant challenges accessing loans due to collateral barriers and high-risk perception. NCGC is bridging that gap. By providing partial credit coverage, the company will offer banks and other financial institutions a safety net, allowing them to lend more confidently to eligible borrowers, particularly in underserved and high-growth sectors.

NCGC does not lend directly to businesses. Instead, it partners with Participating Financial Institutions (PFIs) including commercial banks, microfinance banks, fintechs, CBN-licensed institutions and other development financial institutions to share lending risk and support broader financial inclusion. The model is simple but powerful: enable lenders to do more by reducing the risk that prevents them from reaching viable, underfunded borrowers.

Key Beneficiaries

NCGC’s framework targets a wide range of beneficiaries:

· MSMEs across all regions

· Local manufacturers and value chain operators

· Credit consumers

· Youth and women-led enterprises

· Export-oriented and non-interest-based businesses

· Large enterprises within priority sectors

Our Core Services

NCGC offers three primary services:

· Partial Credit Guarantees – Covering up to 60% of outstanding principal on qualifying loans.

· Co-Guarantees – Collaborating with other institutions to jointly share lending risk.

· Technical Assistance – Providing capacity-building support for lenders and borrowers to enhance credit readiness and portfolio quality.

Guiding Principles

The company’s operations are underpinned by globally accepted credit risk-sharing principles:

· Risk-sharing, not risk transfer

· Strategic issuance to preserve borrower discipline

· Tiered eligibility to promote inclusion and developmental impact

· Full alignment with CBN regulations

These principles ensure every guarantee issued is responsible, irrevocable, and impact-driven.

Product Suite

NCGC offers a diverse set of guarantee products:

· Individual Guarantees – For high-value, project-specific loans.

· Portfolio Guarantees – For pool of loans in homogeneous sectors (e.g., agro-processing, creative economy).

· Performance Bond Guarantees – For businesses seeking to meet contract-based obligations.

Sectoral Coverage

Our guarantees are available across critical sectors including:

· Agriculture & Agribusiness – From inputs to processing and logistics.

· Renewable Energy & Green Economy – Including solar, clean tech, and mini-grids.

· Manufacturing & Infrastructure – Targeting value-added production and light industry.

· Digital & Tech Enterprises – Including startups, fintechs, SaaS, and logistics tech.

· Solid Minerals and Metal – Metal fabrication, recycling, beneficiation, coating, etc.

· Textile – Fashion, leather works, jewelry

· Export-Oriented SMEs – Especially in non-oil sectors.

· Women & Youth Enterprises – Including all women-owned businesses (promoter age not more than age 65).

· Islamic Enterprises (coming soon) – Non-interest, Shariah-compliant financing models.

A New Era of Credit Confidence

NCGC is more than just a financial institution; it is a catalyst for Nigeria’s economic transformation. By incentivizing lenders to serve more businesses safely and sustainably, NCGC is enabling job creation, driving productivity, and fostering a more self-reliant economy.

Its operational model is built to:

· Unlock access to finance for real sector growth

· Create jobs and alleviate poverty

· Drive inclusive economic outcomes

· Strengthen the MSME ecosystem

· Build trust and scale in Nigeria’s credit markets

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Ecobank Adire Lagos Exhibition Fair Opens in Grand Style … Dignitaries Grace the Venue

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Left:  Founder, Chief Responsibility Officer, Ruff ‘n’ Tumble/ Founder, Betti-O School of Fashion, Adenike Ogunlesi; Managing Director/Regional Executive, Ecobank Nigeria, Bolaji Lawal and Lagos State First Lady, Her Excellency, Dr. Ibijoke Sanwo-Olu at the ongoing Adire Lagos Exhibition Fair holding at Ecobank Pan African Centre, Lagos

Ecobank Nigeria has officially launched the much-anticipated fourth edition of its Adire Lagos Exhibition Fair, a vibrant cultural and commercial event dedicated to promoting Nigeria’s indigenous fashion industry and supporting Small and Medium Enterprises (SMEs). The four-day fair runs from June 5 to 8, 2025, at the Ecobank Pan African Centre, 270B1 Ozumba Mbadiwe Avenue, Victoria Island, Lagos. Visitors are welcomed daily from 10:00 AM.

Over 130 vendors are showcasing a diverse range of Adire designs, fashion items, and lifestyle products. The fair attracts a wide audience, including fashion enthusiasts, cultural professionals, creatives, entrepreneurs, and shoppers from across Nigeria and beyond.

Notable dignitaries who have so far graced the fair include the Lagos State Commissioner for Tourism, Arts and Culture, Mrs. Toke Benson-Awoyinka, who represented the Lagos State Governor, Babajide Sanwo-Olu; Lagos State First Lady, Her Excellency Dr. Ibijoke Sanwo-Olu; the wife of the former Ekiti State Governor,Erelu Bisi Fayemi ; Ogun State Commissioner for Women Affairs and Social Development, Mrs. Adijat Motunrayo Adeleye-Oladapo; former Chairman of Ecobank Transnational Incorporated, Emmanuel Ikazoboh; founding President of the FinTech Association of Nigeria (FANI), Dr. Segun Aina; and the owner of Nike Art Gallery, Nike Davies-Okundaye, among others.

Omoboye Odu, Head of Small and Medium Enterprises at Ecobank Nigeria, expressed delight at the strong turnout, stating, “This year’s exhibition promises a dynamic blend of established brands and emerging designers who embody innovation, cultural pride, and export potential.” She further emphasized the fair’s role as a major Corporate Social Responsibility (CSR) initiative by Ecobank.

“The Adire Lagos Exhibition Fair is a key CSR initiative, offering SMEs a platform to showcase their products free of charge while fostering economic growth and national unity. Last year’s event attracted over 20,000 visitors in four days, with one vendor making N30 million in sales—equivalent to six months’ revenue—demonstrating the fair’s strong commercial potential.”

Exhibitors also praised the growing appeal of Adire designs. Ms. Fadilat Lawal, Managing Director of Sanyaolu Trading Stores, Abeokuta, highlighted the durability and cultural symbolism of Abeokuta Adire. Ms. Cynthia Uma, Creative Director of Cecesignature Unisex Clothing, Lagos, emphasized Adire’s growing global recognition as a revenue driver for her business.

The Adire Lagos Exhibition Fair continues to serve as a premier platform for celebrating Nigeria’s cultural heritage while empowering local artisans and entrepreneurs to thrive.

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3.214 billion shares : Continuation From Print Nigerian stock market sees significant dip in transactions

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Stock market investors traded 3.214 billion shares worth N76.348 billion in 64,156 transactions on the floor of the Exchange during the week.

This is compared to 3.794 billion shares valued at N119.394 billion that exchanged hands last week in 89,636 deals.

Consequently, the value of transactions traded by investors on the Exchange dropped by 56.4 per cent.

Meanwhile, market opened for four trading days during the week as the Federal Government declared Friday, June 6 and Monday, June 9, as public holidays to commemorate 2025 Eid-el-Kabir celebration.

The Financial Services led the activity chart with 2.313 billion shares valued at N52.241 billion traded in 27,326 deals.

This contributed 71.96 per cent and 68.43 per cent to the total equity turnover volume and value respectively.

The ICT industry followed with 301.996 million shares worth N5.026 billion in 4,137 deals.

The third place was the Consumer Goods Industry, with a turnover of 144.538 million shares worth N5.632 billion in 8,093 deals.

Trading in the top three equities namely Fidelity Bank Plc, Legend Internet Plc and Guaranty Trust Holding Company Plc accounted for 1.545 billion shares worth N34.446 billion in 4,939 deals.

This contributed 48.06 per cent and 45.12 per cent to the total equity turnover volume and value respectively.

The NGX All-Share Index and Market Capitalisation appreciated by 2.57 per cent to close the week at 114,616.75 and N72.275 trillion respectively.

Similarly, all other indices finished higher with the exception of NGX ASeM Index which closed flat.

Fifty-three equities appreciated in price during the week, lower than 56 equities in the previous week.

Forty-three equities depreciated in price, lower than 44 in the previous week, while 52 equities remained unchanged, higher than 48 recorded in the previous week.

The top five decliners for the week are: Associated Bus Company, Julius Berger, Legend Internet, Livestock Feeds and E-Tranzact International as they lost 55k, N18.50, 82k, N1.15 and 80k respectively.

Oando Plc, Lasaco Assurance Plc, Multiverse Mining, Cornerstone Insurance and First Holdco were the top five gainers for the week, as they grew in 25.77 per cent, 21.62 per cent, 20.39 per cent, 19.51 per cent and 17.60 per cent respectively.

The companies gained N11.65, 56k, N1.55, 64k and N4.40 respectively.

The May 2025 Issue of the Federal Government of Nigeria,Savings Bonds were listed on the Nigerian Exchange Ltd on Thursday

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