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Fidelity Bank, BOI, Ford Foundation Unveils Lending Scheme For Aba Leather Manufacturers

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• Lender Donates Fully Equipped Secretariat To LEPMAAS

Fidelity Bank Plc, top Nigerian lender in strategic partnership with the Bank of Industry (BoI) has launched the Aba Finished Leather Goods Cluster Financing Programme, as part of continuous efforts to promote Made-in-Nigeria goods capable of meeting global standards for export and local consumption. N400 million in financing provided by BoI will be made available on a quarterly basis to over 300 members of the Leather Products Manufacturers Association of Abia State (LEPMAAS). The funds will be disbursed through the Fidelity Bank while the Ford Foundation would provide technical support to the artisans.

Speaking at the formal launch of the initiative in Aba on Wednesday, the Bank’s Chief Executive Officer, Nnamdi Okonkwo, said the partnership with BoI further underlines the Bank’s staunch commitment to addressing the financing challenges confronting Micro Small Medium Enterprises (MSMEs) in Nigeria. Whilst stating that the financing scheme will further boost import substitution, Okonkwo who was represented by the Bank’s Head, Corporate Bank, Obaro Odeghe, pointed out that the loans will enable them procure requisite materials and equipment for production and expansion.

Under this scheme, Obaro said the Bank will provide short-term loans with maximum obligor limits of N300,000 to N500,000 to qualified members of LEPMAAS. According to him, the partnership with BoI is in furtherance of the financial institution’s commitment towards building the next generation of international entrepreneurs in the art of leather products manufacturing in the cluster. “Our long-running support for the growth and development of MSMEs stems from the utmost recognition of their strategic importance, as critical agents of economic development and transformation in Nigeria.

“Under the scheme, we will also provide tailored capacity building support to members of LEPMAAS”, Okonkwo explained. To enhance the governance activities of the LEPMAAS Executives and support BoI’s planned monitoring of loans under the programme, Fidelity Bank donated an ultra-modern and fully equipped secretariat for LEPMAAS.

Obaro urged beneficiaries of the financing scheme to ensure that loans are repaid to drive sustainability of the financing programme. Speaking in the same vein, Managing Director of BoI, Olukayode Pitan, noted that the programme was designed to provide a tailored bundle of financial and non-financial services including capacity building to qualified members of LEPMAAS.

Pitan explained that finished leather products to which LEPMAAS is a major contributor, accounts for over 80 percent of the textile apparel and footwear component of the manufacturing sector. According to him, informal computations put yearly revenue from the cluster at over N10 billion despite the competing volumes of similar goods being imported.

“By providing low interest, non-collaterised loans, the Bank has provided flexibility for qualified members of LEPMAAS recommended by their line and zonal chairmen to access up to N300,000 towards the procurement of materials to expand and improve their production activities.

“The programme is being implemented alongside Ford Foundation and Fidelity Bank Plc. The Foundation will be providing a grant that specifically focuses on strengthening the capacities of the leaders and beneficiaries even as monitoring structures to ensure loan repayments are instituted. Fidelity Bank will provide account management services to the loan beneficiaries.”

Ford Fou[highlight][/highlight][highlight][/highlight]ndation Regional Director, Innocent Chukwuma, said the partnership with BoI was part of efforts to fulfil its commitment to leather manufacturers to encourage local production and increase campaign for adoption of made-in-Aba. To this end, Chukwuma said the Foundation would be staking a grant of $150,000 in the programme to drive social impact and enhance productivity.

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GTBank Launches Quick Airtime Loan at 2.95%

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Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing 73790#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.

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GTCO Proudly Headlines the NPA Lagos International Polo Tournament as Main Sponsor— Championing Great Experiences and Heritage

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Guaranty Trust Holding Company Plc (GTCO Plc) (NGX: GTCO; LSE: GTCO), one of Africa’s leading financial services groups, is proud to announce its continued support as the main sponsor of the NPA Lagos International Polo Tournament, one of Africa’s oldest and most prestigious sporting events. The 2026 edition will be held at the Lagos Polo Club, Ikoyi, from Tuesday, January 27 to Sunday, February 15, bringing together top local and international polo teams and spectators from across the continent and beyond.

The 2026 NPA Lagos International Polo Tournament will feature top‑tier teams competing for major prizes, including the Majekodunmi Cup, Independence Cup, Open Cup, Silver Cup and Low Cup, among others. Guests can expect a fusion of thrilling equestrian action, polo-inspired lifestyle showcase, and curated hospitality experiences. The event will also be livestreamed, allowing audiences online to share in the excitement and spectacle.

Commenting on GTCO’s role as main sponsor of the Lagos International Polo Tournament, Segun Agbaje, Group Chief Executive Officer, said: “This tournament, one of the oldest in Africa, celebrates not only the noble sport of polo but the values we hold dear as a brand: teamwork, discipline, fair play, and a commitment to excellence. Beyond the field, it showcases Nigeria and Africa to a global audience, reinforcing the continent’s place on the world stage. Our longstanding sponsorship of the NPA Lagos International Polo Tournament reflects our conviction that sport can amplify opportunity, foster connections, and deliver world-class experiences for all.”

The NPA Lagos International Polo Tournament has long been celebrated not only for its thrilling competition and equestrian excellence but also for its rich heritage and cultural resonance within Africa’s sporting tradition. GTCO’s sponsorship embodies the Group’s commitment to creating platforms that unite communities and drive social impact across diverse audiences.

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Fidelity Bank appoints Onwughalu as Chairman following completion of Chike-Obi’s tenure

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Tier one lender, Fidelity Bank Plc, has announced the completion of the tenure of Mr. Mustafa Chike-Obi as Chairman of its Board of Directors effective December 31, 2025, and the appointment of Mrs. Amaka Onwughalu as the new Chairman of the Board, effective January 1, 2026.

The board transitions are in alignment with the Bank’s policy and have been communicated to the Central Bank of Nigeria, the Nigerian Exchange Group, and other stakeholders.

Under Mr. Chike-Obi’s leadership, Fidelity Bank repaid its Eurobond, completed the first tranche of its public offer and rights issue that were oversubscribed by 237 percent and 137.73 percent respectively, expanded internationally to the United Kingdom, and received improved ratings from various agencies amongst a long list of achievements. His tenure also saw the Bank strengthen its capital position, record steady growth in customer deposits and total assets, deepen its digital banking capabilities, and enhance its corporate and investment banking proposition. The bank equally made notable progress in governance, risk management, and operational efficiency, all of which contributed to strengthened market confidence and the Bank’s sustained upward performance trajectory.

Reflecting on his tenure, Mr. Mustafa Chike-Obi said, “It has been a privilege to serve as Chairman of Fidelity Bank. The dedication of our Board, management, and staff has enabled us to reach significant milestones. I am confident that the Bank will continue to thrive and deliver value to all stakeholders.”

Mrs. Amaka Onwughalu’s appointment marks a new chapter for Fidelity Bank. She joined the Board in December 2020 and has chaired key committees. With over 30 years of banking experience, including executive roles at Mainstreet Bank Limited and Skye Bank Plc. She holds degrees in Economics, Corporate Governance, and Business Administration, and has attended executive programmes at global institutions. Mrs. Onwughalu is a Fellow of several professional bodies and has received awards for accountability and financial management

“I am honoured to lead the Board of Fidelity Bank at this exciting time. Our recent achievements have set a strong foundation for continued growth. I look forward to working with my colleagues to drive our strategy and deliver sustainable value,” commented Mrs. Onwughalu.

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 a 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.

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