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Fidelity Bank Reaffirms Support For CBN’s New FX Policy Push, Targets Improved Diaspora Remittance Inflows

Published

5 years ago

March 11, 2021

  Fidelity Bank Plc, a leading Nigerian bank has restated its readiness to continually support the Central Bank of Nigeria’s (CBN) efforts to engender sustainable economic development by significantly improving diaspora remittances and foreign exchange (FX) inflows into the country.

Fidelity Bank CEO, Mrs. Nneka Onyeali-Ikpe who made this known on Saturday at the inaugural edition of the Fidelity Diaspora Webinar Series in Lagos stated that the bank would leverage its robust digital infrastructure, bespoke product offerings and extensive partnership with International Money Transfer Operators (IMTOs) to strengthen remittances inflows.

While applauding the regulator of the financial services industry for its well-timed interventions in the FX market, Mrs. Onyeali-Ikpe stated the virtual event was part of concerted efforts to deepen engagement with Nigerian citizens’ resident abroad, providing them greater clarity on recent policy measures by the CBN and its attendant implications for diaspora investments.

“We are here today to discuss modalities of Diaspora Remittance as well as awareness of investment opportunities in Nigeria. We believe when people are armed with adequate knowledge, they will be able to make informed decisions”, she explained.

Shedding light on the investment opportunities available in the country such as fixed income securities, private equity prospects in companies, modernized agriculture, urban and infrastructure renewal projects, amongst others, she pointed out that many Nigerians in the Diaspora are taking advantage of the bank’s Diaspora Mortgage product to acquire homes in Nigeria.

“As an innovative bank, our digital link on several IMTO sites ensures that Nigerians in diaspora can open both Naira and domiciliary accounts in 10 minutes and remit funds to Nigeria. Our Private Banking team can handhold interested persons for mortgage to avoid scams,” she explained.

Themed ‘The New CBN FX Policy and Positive Impact to Diaspora Investments in Nigeria’, the session had in attendance notable professionals including Nigeria’s Vice President, Prof. Yemi Osinbajo; Governor, Central Bank of Nigeria (CBN), Godwin Emefiele, who delivered a keynote address; and the Chairman/CEO, Nigerians in Diaspora Commission (NIDCOM), Honorable Abike Dabiri-Erewa.

Other eminent personalities include the Chairman/President of African Export-Import Bank, Prof. Benedict Okey Oramah; Lead Faculty, Tekedia Institute, Prof. Ndubuisi Ekekwe; renowned Neurosurgeon and Chairman of RNZ Global, Prof. Olawale Sulaiman; founder, and chairman of BEN Television, Alistair Soyode, among others. Ekweke, Sulaiman and Soyode all participated in the panel session where they shared their wealth of knowledge and experience with attendees.

On his part, Vice President Osinbajo commended the bank for the webinar session and reaffirmed his confidence in new CBN FX policy. According to him, the policy would aid more investment from Nigerians living abroad. The Vice President, who was represented by Executive Secretary/Chief Executive Officer, Nigerian Investment Promotion Commission (NIPC), Ms. Yewande Sadiku, said, “Nigerians in diaspora represent an indomitable force, they are flag bearers of Nigeria’s image, Nigeria entrepreneurial energy and Nigeria’s incredible can-do attitude.

“For several years, the remittances from Nigerians in diaspora exceeded Nigeria’s oil revenues, which translated sometimes as high as six per cent of GDP. We are interested in understanding exactly how to translate this potential to investments,” he added.

Fidelity Bank Reaffirms Support For CBN’s New FX Policy Push, Targets Improved Diaspora Remittance Inflows 

Fidelity Bank Plc, a leading Nigerian bank has restated its readiness to continually support the Central Bank of Nigeria’s (CBN) efforts to engender sustainable economic development by significantly improving diaspora remittances and foreign exchange (FX) inflows into the country.

In his keynote address, Mr. Emefiele extended his appreciation to the bank for providing a platform to discuss broad issues affecting the CBN’s new FX policy. Emefiele highlighted the benefits of the newly introduced “CBN Naira 4 Dollar Scheme,” an initiative aimed at incentivising senders and recipients of international money transfers.

The CBN governor explained that the new policy was expected to attract diaspora remittances through the official foreign exchange channels as well as support forex stability in Nigeria. Speaking at the webinar, Oramah commended the CBN governor for the reforms taking place regarding diaspora remittances. He suggested ways to boost diaspora participation in the Nigerian economy through specialised funds and accounts that would encourage them to save their long-term funds in Nigeria.

Lauding Fidelity Bank for the webinar series, Oramah said, “Africans and Nigerians can consider allowing special diaspora foreign currency accounts with higher interest rates than the US or Europe and with an inbuilt guarantee against potential losses from bank failures and country risks.”

n his keynote address, Mr. Emefiele extended his appreciation to the bank for providing a platform to discuss broad issues affecting the CBN’s new FX policy. Emefiele highlighted the benefits of the newly introduced “CBN Naira 4 Dollar Scheme,” an initiative aimed at incentivising senders and recipients of international money transfers.

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

Published

2 days 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.

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ZENITH BANK APPOINTS ENGR. MUSTAFA BELLO AS CHAIRMAN AT ANNUAL GENERAL MEETING

Published

3 weeks ago

May 6, 2026

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Zenith Bank Plc has announced the appointment of Engr. Mustafa Bello as the Chairman of its Board of

Directors.Theappointment,whichtakesimmediateeffect,hasbeenapprovedbytheCentralBankof

Nigeria (CBN) and ratified by shareholders at the Annual General Meeting held on May 5, 2026.

Engr.Bello’sappointmentrepresentsastrategicsteptoensurethecontinuity,stability,andsustained

effectivenessoftheBoard,whilereinforcingthehighstandardsofcorporategovernance,regulatory

compliance,andstrategicoversightforwhichZenithBankiswidelyrespected.HejoinedtheBoardof

Zenith Bank Plc on 29 December 2017 and has served on several Board committees, including the Board

Audit and Compliance Committee, Board Governance, Nomination and Renumeration Committee and as

Chairman of theBoard RiskManagementCommitteeuntilhisappointmentasChairmanof theBoardof

Directors.

He has extensive leadership experience at Board and executive levels, a strong understanding of corporate

governanceprinciplesandregulatoryexpectations,andaproventrackrecordinstrategicoversightand

organisationalgrowth.Hehasconsistentlydemonstratedintegrity,independenceandsoundjudgement,

qualities that distinguished him as the natural choice to lead the Board into its next chapter.

Engr. Mustafa Bello is a distinguished engineer, statesman and corporate leader. His career spans more

than four decades across the public and private sectors of the Nigerian economy. He served as Minister of

CommerceoftheFederalRepublicofNigeriafrom1999to2002underPresidentOlusegunObasanjo,

GCFR,whereheledthedevelopmentofNigeria’sWTO-consistentTradePolicy.Healsooversawthe

CorporateAffairsCommission(CAC)onlineprojectof2002,whichmodernisedthewaybusinesses

registerandoperateinthecountry.FromNovember2003toFebruary2014,heservedasExecutive

Secretary and Chief Executive Officer of the Nigerian Investments Promotion Commission (NIPC), where

hewasinstrumentalinattractingforeigndirectinvestmentintoNigeria,buildingmultilateralandbilateral

partnerships, and representing the Federal Government at international conferences and missions.

HegraduatedfromAhmaduBelloUniversity(ABU),Zaria,in1978withaB.Engr.inCivilEngineering

(SecondClassUpperDivision),winningtheShellPrizeforthebestprojectandthesisintheFacultyof

Engineering.HebeganhiscareerwiththeNigerianArmy’sDirectorateofQuarteringandEngineering

Service from 1978 to 1979, before joining the Niger State Housing Corporation as a Senior Civil Engineer

from 1980 to 1983.

HeiscurrentlytheChairmanofInvest-in-NorthernNigeriaLimited,aspecialpurposevehicleforthe

economic and social transformation of the Northern Nigerian economy, and has previously served on the

boards of Eskom Holdings Limited of the Republic of South Africa (2004 to 2008) and FrieslandCampina

WAMCO Nigeria Plc as an Independent Non-Executive Director. He is a Fellow of the Nigerian Society of

Engineers and a Registered Member of Council for the Regulation of Engineering in Nigeria (COREN) as

well as Fellow of the Academy of Natural Sciences & Engineering in Nigeria (ANSEN).

Zenith Bank stands among Africa’s leading financial institutions, with a strong capital base and operations

acrossNigeria,theUnitedKingdom,theUnitedArabEmirates,Ghana,SierraLeone,TheGambiaand

Côte d’Ivoire.

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ZENITH BANK EXPANDS FOOTPRINT WITH CÔTE D’IVOIRE SUBSIDIARY LAUNCH

Published

4 weeks ago

April 29, 2026

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Zenith Bank Plc has announced the opening of its Côte d’Ivoire subsidiary, marking a pivotal achievement in the Group’s Pan-African expansion strategy.The official opening ceremony, scheduled to hold on Wednesday, April 29, 2026, is expected to attract senior government officials and regulators from Nigeria and Côte d’Ivoire, continental business leaders, and members of the diplomatic community, highlighting the strategic economic ties and investment opportunities between the two markets.The new subsidiary, licensed in December 2025 by the Ministry of Finance and Budget, Republic of Côte d’Ivoire, and regulated by the UMOA Banking Commission, will commence operations from its headquarters at SCI Wall Street, Avenue Noguès, Plateau, Abidjan.The launch represents a strategic move to deepen the Bank’s presence in Francophone West Africa and strengthen financial intermediation within the West African Economic and Monetary Union (WAEMU). Positioned as a gateway for cross-border trade and investment, Zenith Bank Côte d’Ivoire will focus on corporate banking, trade finance, local and offshore banking services, and structured financial solutions tailored to businesses operating across Africa and internationally.Commenting on the launch, the Group Managing Director/CEO, Dame Dr. Adaora Umeoji, OON, said: “From the very beginning, our Founder and Chairman, Jim Ovia CFR, set out to build a truly global brand with a strong presence across Africa and key international markets. The launch of Zenith Bank Côte d’Ivoire is a bold step in realising that vision; opening a strategic corridor into Francophone West Africa and reinforcing our commitment to facilitating trade, investment, and enterprise growth across the continent. As we continue to expand thoughtfully and strategically, we remain focused on delivering world-class banking solutions that connect African businesses to global opportunities.”The new subsidiary will be headed by MD/CEO Mr. Cédric Tano, a seasoned banking executive with over two decades of experience. Speaking ahead of the official opening, he said “We are proud to establish Zenith Bank’s presence in Côte d’Ivoire at a time of strong economic growth in the country and increasing regional integration. Our focus is to showcase the Zenith brand as a customer-centric institution that combines global best practices with deep local insight. We are well positioned to support businesses with innovative financing solutions, facilitate cross-border trade, and contribute meaningfully to the growth of the Ivorian economy and the wider WAEMU region.”The Côte d’Ivoire launch forms part of Zenith Bank’s broader continental growth strategy. In addition to the Anglophone countries where it currently operates, and in line with the expansion into the Francophone market, the Bank has commenced its entry process into the CEMAC (Central African Economic and Monetary Community) region, with Cameroon as the focal point. With a footprint already spanning Nigeria, Ghana, Sierra Leone, The Gambia, the United Kingdom, France, the UAE, and China, Zenith Bank continues to bridge African markets with global opportunities, enabling seamless trade and financial connectivity across the continent and beyond.

Founded in 1990, Zenith Bank has grown into one of Africa’s most respected banking institutions, boasting a robust capital base and a consistent track record of strong financial performance. For 16 consecutive years, the Bank has held the record of highest Tier-1 capital in the Nigerian banking industry. Built on the foundation of People, Technology, and Service, Zenith Bank continues to deliver innovative financial solutions while maintaining a disciplined approach to growth and risk management. Its performance has earned it numerous local and international recognitions and endorsements.

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