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Emefele, Olugbemi, Akinwuntan Insist Banks Must Play a Critical Role to Restore Stability to Nigeria’s Economy

Published

6 years ago

September 16, 2020

Banking stakeholders have in unison insiisted that banks must play a critical role to restore the Nigerian economy from the negative effects of COVID-19. Speaking at the Chartered Institute of Bankers of Nigeria (CIBN) 13^th Annual Bankers Conference in Abuja, the bank chiefs that included Godwin Emefiele, Governor Central Bank of Nigeria, Bayo Olugbemi, President/Chairman of Council, CIBN and Patrick Akinwuntan, Chairman of the Chartered Institute of Bankers (CIBN) Consultative Committee organizing the 13^th Annual Bankers Conference and Managing Director Ecobank Nigeria noted that that it is imperative from an economic as well as a security perspective that banks work to support growth in sectors that have significant growth potential. These sectors they noted include Agriculture, Information Communication Technology and Infrastructure Finance amongst others.

In his presentation, the CBN Governor Godwin Emefiele said that our banking and financial system can enhance the resilience of the Nigerian economy, in the face of external shocks. According to Emefiele “we have witnessed the disruptions COVID-19 has had on global supply chains and food supply. If measures had not been taken earlier to improve cultivation and processing of staple crops in Nigeria prior to the onset of the pandemic, we would have had to deal with a major food crisis in the country. The banking sector therefore has a significant role to play as a facilitator of growth through its intermediation function”. He stated that “over the next 4 years, the banking sector should consider ways under which it could increase its loans to the agriculture sector from 4 percent to 10 percent by 2024”.

Further the apex bank Governor noted that “opportunities in the agriculture sector that banks should explore include addressing some of the existing gaps in the agriculture value chains, such as storage centers, transport logistics, and technology platforms, that can enable rural farmers to sell their produce directly to the markets. More importantly, he said the “agricultural sector also offers significant opportunity for the nation to earn foreign exchange through the exports of processed agricultural products. With declining foreign exchange earnings from crude oil, banks should consider supporting agro processing companies that are export oriented. These measures would help to improve productivity of farmers, increase our foreign exchange earnings, reduce post-harvest losses, while supporting the growth of other sectors of our economy such as manufacturing, and transportation”. He noted

According to Emefiele, another sector which has emerged as a significant source of resilience in mitigating the impact of Covid-19 on the economy, is Information and Communications Technology (ICT). He said in the “second quarter of 2020, the ICT sector made contributions of over 17.8 percent to GDP growth, 20 percent higher than its contributions a year earlier. It is important that we leverage ICT as an enabler for growth in key sectors of the economy”. He said “ICT start-ups are emerging to support SMEs, farmers, and in providing quality learning to students affected by the shutdown in schools. It is important that the banking sector consider viable IT firms in these areas that have the potential to not only serve the needs of the local market but are also able to export ICT related services to countries across the world”.

In his address, Bayo Olugbemi, President/Chairman of Council, CIBN, noted that “given the recent disruption caused by the impacts of the Covid-19 Pandemic, the role of banks have become more important now than ever before. According to him this year’s edition of the Conference aims to uncover and articulate the roles of the banking and finance sector in achieving a sustainable future for the country. He said the conference gives everyone the opportunity for an assessment of inclusive banking and the way forward, articulation of the risks of facilitating a sustainable future and positioning of banks in tackling risks, discussion on how Fintech is shaping the future through innovation and disruption, discussion on Green Banking and Economic Growth and the Impact of Finance on Emerging Sectors, spotlighting MSMEs, Manufacturing, Creativity and Agriculture Industry amongst others.

For Patrick Akinwuntan Nigeria need to move to the level of wealth creation, not just talking of poverty aliviation because we have the human capital and natural resources. We must therefore levarage technology, levarage access to fianance to be able to sopport the developing economy. He noted that the banks needs to support those who needs to grow their businesses, support those who need to invest in productive capacity. This according to him are some of the purpose of the 2020 annual conference, a message the institute is bringing to Nigeria. Further the Ecobank Nigeria Managing Director, reiterated that banks are unleashing digital platform to take financial services to the underbanked. He said the banks are determined to place Nigeria at the forefront of economic development in Africa.

The 2020 Annual Bankers conference themed; “Facilitating a Sustainable Future: The Role of Banking and Finance” has prominent bankers; major economic players; captains of industry; regulators; policy makers; members of the academic community and other stakeholders in the banking and finance industry in attendance.

The CIBN had adopted a hybrid approach for the two day event taking place simultaneously, at the Transcorp Hilton Hotel, Abuja and the Bankers’ House, Adeola Hopewell Street, Lagos and through Zoom teleconferencing. I n line with the theme, participants are evaluating the role of the Banking and Finance Industry in engendering an inclusive sustainable growth as well as offering a direction on how to reposition the Industry for relevance in the new world order, by leveraging on digitalization to boost Nigeria’s economy.

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HabariPay Launches Maiden “HabariPay Impact Report 2025”, Showcasing Its Journey, Business Evolution, and Contributions to Digital Payments

Published

2 weeks ago

June 11, 2026

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HabariPay Limited, the fintech subsidiary of Guaranty Trust Holding Company Plc (“GTCO” or the “Group”), has unveiled its maiden HabariPay Impact Report 2025, providing stakeholders with a comprehensive account of the company’s evolution, innovation journey, business performance, and impact on the digital payments landscape.The report captures HabariPay’s transformation from a newly established fintech venture into one of Nigeria’s leading payment infrastructure providers, highlighting the milestones, strategic decisions, and investments that have shaped its growth. It showcases the company’s contributions to enabling digital commerce, supporting businesses, strengthening payment infrastructure, and expanding financial access through technology-driven solutions.The HabariPay Impact Report 2025 also highlights the company’s strong financial and operational performance, the growth of the Squad platform, and the development of infrastructure that powers payment acceptance, switching, transfers, merchant services, and value-added solutions. The publication further explores the role of innovation, talent development, and ecosystem partnerships in driving the company’s success.Speaking on the launch of the report, the Managing Director of HabariPay, Eduofon Japhet, said: “As a technology-driven company, we believe that impact extends beyond financial performance. It is reflected in the businesses we enable, the merchants we support, the infrastructure we build, and the opportunities we create for the next generation of innovators. The HabariPay Impact Report 2025 captures this journey and demonstrates our commitment to creating sustainable value for customers, partners, and the broader economy.”She further added: “The HabariPay Impact Report 2025 represents more than a reflection on our achievements; it is a testament to the deliberate investments we have made in building sustainable payment infrastructure, empowering businesses, fostering innovation, and creating long-term value for our stakeholders. As we look ahead, we remain committed to expanding our capabilities, deepening our impact, and shaping the future of digital payments through technology-driven solutions that are secure, scalable, and inclusive.”The report also showcases HabariPay’s investments in innovation through initiatives such as the Take on Squad Hackathon and the Squad Hackademy, both of which are helping to develop future technology talent and accelerate the creation of practical solutions to real-world challenges.Looking ahead, the publication outlines HabariPay’s vision for the future, including continued investment in payment infrastructure, merchant solutions, digital innovation, and intelligent technologies that will shape the future of financial services.
To access the HabariPay Impact Report 2025, please click the below: https://squadco.com/impact-report/About HabariPayHabariPay Ltd is the fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), one of the largest financial services institutions in Africa with direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom.Licensed by the Central Bank of Nigeria (CBN), our goal is to support SMEs, micro merchants, large corporations, and other fintechs (Tech Stars) with the tools they need to thrive in an evolving digital economy and expand beyond their current market reach. HabariPay’s solutions include Squad, a full-scale digital payments toolkit to make in-person and online payments simpler, HabariPay Storefront, an e-commerce website to facilitate online purchases, Value-Added Services to help merchants access cost-effective and flexible airtime and data bundles to run their businesses, as well as a switching infrastructure that enables tech-focused businesses to optimise cost and make transactions more efficient.HabariPay’s contributions to Accelerating Digital Acceptance in Africa have not gone unnoticed–it received Mastercard’s Innovative Mobile Payment Solution Award at TIA 2022 for its innovative payment solution, SquadPOS.

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ZENITHBANKPARTNERSLAWMA,LASWATOCOMMEMORATEWORLDENVIRONMENT DAY 2026 WITH TWO-PHASE LAGOS CLEAN-UP

Published

2 weeks ago

June 5, 2026

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Inlinewithitscommitmenttoenvironmentalsustainabilityandresponsiblebusinesspractices,

ZenithBankPlchascommemoratedthe2026WorldEnvironmentDaywithatwo-phase

environmental clean-up initiative in LagosState, held under theglobal theme “Inspired by Nature.

For Climate. For Our Future.”

The first phase was a morning clean-upconducted by staff of the Bank on Wednesday,3 June

2026, along Ajose Adeogun Street, Victoria Island, Lagos. The exercise mobilised employees to

clear waste, sensitise residents on proper disposal practices, and reinforce the Bank’s culture of

community service and environmental stewardship.

Thesecondphase,onThursday,4June2026,featuredawaterwaysclean-upattheFalomo

Waterways, Ikoyi, Lagos, executed in collaboration with the Lagos Waste Management Authority

(LAWMA)andtheLagosStateWaterwaysAuthority(LASWA).Thejointeffortfocusedon

removingmarinedebris,promotingcleanerwaterways,andsupportingtheState’sbroader

climate-resilience agenda.

Speakingontheinitiative,DameDr.AdaoraUmeoji,OON,GroupManagingDirector/CEOof

Zenith Bank Plc, said: “At Zenith Bank, sustainability is integral to how we operate. Clearing our

streetsandourwaterwaysisapracticalreminderthatprotectingtheenvironmentisashared

responsibility – and one we are proud to take up alongside LAWMA and LASWA. Through these

exercises, we aretaking deliberate action topreserve our communities,support climate action,

andinspireotherstoact.Ouroperationswillcontinuetoalignwithglobalenvironmental

standards as we build a more sustainable future for Nigeria and Africa.”

ZenithBankremainscommittedtoembeddingEnvironmental,SocialandGovernance(ESG)

principles across its operations, investing in green initiatives, energy efficiency, and community-

focused programmes. These efforts advance the United Nations Sustainable Development Goals

–particularlySDG7(AffordableandCleanEnergy),SDG11(SustainableCitiesand

Communities)andSDG13(ClimateAction).Sustainabilityremainsanoperationalimperative

across the Bank’s Nigerian base and its broader African, UK and European footprints

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ZENITH BANK RENEWS COMMITMENT TO CHILDREN WITH EDUCATION, INCLUSION & OPPORTUNITY AT THE CORE

Published

4 weeks ago

May 26, 2026

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Much more than commemorating the annual Children’s Day marked every May 27, Zenith Bank Plc is championing the

narrativethatchildrenarethetrueleadersoftomorrow.TheBankhasdeepeneditsinvestmentincarefullycurated

initiativesthatelevatechildrenacrosseducation,financialliteracy,health,digitalinclusion,andsocialprotection,

building a generation equipped to thrive and lead. For Zenith Bank, every child matters, and the Bank’s footprint reflects

a deliberate, pan-African strategy to nurture potential from the earliest age.

Zenith Bank has been the financial institution partner to Kiddies Corner on Inspiration 92.3FM Lagos for over three

years, anchoring the Tuesday edition and Zenith Financial Literacy Friday show. The programme blends spelling bee

contestswithfinancialliteracyquestions,creatingawarenessandonboardingchildrenintotheZenithChildren’s

Account (ZECA). This partnership came alive at the Inspiration FM Children’s Day Carnival on Saturday, May 23, 2026,

whereZenithBankhostedover1,000childrenandtheirparents,celebratingZECAwinnerswithgames,skits,and

Zenith Bank branded gifts.

The Bank’s Zenith Financial Literacy Week, held quarterly, takes this mission into select schools across all 36 states

andtheFCT.Studentsaretrainedonsavings,budgeting,basicinvestments,anditsretailproducts,withthetop

performer in each school awarded N50,000. Complementing this is the Bank’s nationwide Financial Literacy Program

undertheCBN-mandatedGlobalMoneyWeek,whichin2025alonereached3,622studentsacross22LGAs,

deploying 137 bank employee volunteers as educators.

In alignment with the United Nation’s (UN) Sustainable Development Goal (SDG) 4 on Quality Education, Zenith Bank

hasdonatedstate-of-the-artICTcentresandcomputersystemstoschoolsanduniversitiesnationwide,includinga

ComputerCentretoBamainaAcademy,Dutse,JigawaState.Itstransformativeinterventionsincludefullyequipped

libraries,vocationalfacilities,andlarge-scaleschoolrenovations,fromOjotaSecondarySchoolandVictoriaIsland

Secondary School in Lagos to Hugallawa Primary School in Jigawa. Targeted financial support further breaks barriers

with N1 million cash donation to Louisville Girls High School, Ijebu-Itele, supporting girl-child education; infrastructure

upgrades at Maryland Comprehensive Secondary School; a N1 million scholarship endowment for St. Francis Catholic

Secondary School; and support for the North-East Children’s Fund to aid education in conflict-affected communities.

Through its Primary Healthcare Centre Initiative across all 774 LGAs, Zenith Bank educates parents on early childhood

savings during routine visits, linking health and financial well-being. The “PAD-A-QUEEN” Initiative commemorates the

International Day of the Girl Child, reaching5,000 girls in 10 schools withsanitary pads, hygiene kits, and menstrual

health education to keep girls in school and promote SDGs 3, 4, and 5.

The Bank’s compassion extends to the most vulnerable. At Bethesda Home and School for the Blind, Idi Oro, Lagos,

Zenith donatedbraille materials,food, and toiletries.For the2026 InternationalDay forStreet Children,it partneredwith

Bosco Child Protection Centre on medical check-ups, food, clothing, and counseling. Annual Christmas Charity Visits to

orphanagesdelivercash,toys,andessentialsupplies,whilesupportfortheSmileandShineChildrenFoundation’s

Strive Conference empowers over 2,000 adolescents with life skills and leadership training.

Commenting on the Bank’s intentionality towards the development of children, Dame Dr. Adaora Umeoji, OON, Group

Managing Director/CEO, ZenithBank Plc, said, “AtZenith Bank, weare deliberate about initiativesthat elevate children

becausetheyarenotjustourfuture,theyareourpresentresponsibility.AsWhitneyHoustonsopoignantlysang,‘I

believethechildrenarethefuture,teachthemwellandletthemleadtheway.’Thatisthephilosophydrivingour

investmentsineducation,financialliteracy,health,anddigitalinclusion.FromKiddiesCornertoICTcentres,from

PHCs to orphanages, we are teaching them well, equipping them early, and giving them the tools to lead. Zenith Bank

renews its commitment to every Nigerian child, to nurture their dreams, protect their dignity, and secure their tomorrow.”

Championing youth expression, the Zenith Annual Youth Parade, hosted by the Bank for 19 years, stands as a flagship

Corporate Social Responsibilityinitiative. Bringing togetherthousands of childrenand teenagers in avibrant showcase

of unity and discipline, the parade has remained dedicated since inception to the vital mission of supporting, nurturing,
andempoweringtheNigerianchild,reinforcingtheBank’sbeliefthatleadershipislearnedearlythroughteamwork,

confidence, and celebration of young Nigerian identity.

ForZenithBank,Children’sDayismorethanadateonthecalendar.Itisadailypledgetoempower,protect,and

prepareNigeria’schildrenforleadership.Fromclassroomstocommunities, the Bank’s initiatives are teaching them well

and letting them lead the way because the future belongs to children who are equipped today.