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FIRSTBANK HIGHLIGHTS ROLES OF SMES TO ECONOMY AT EHINGBETI LAGOS SUMMIT
The Chief Executive Officer of First Bank of Nigerian Limited, Dr Adesola Adeduntan, has restated the strategic importance of small and medium enterprises SMEs to the growth and development of the national economy.
Adeduntan said the path to the growth of Nigerian economy lies in growing the SME sector, and that informed why First Bank has deliberately provided robust support platforms for the critical SME sector.
Speaking during the plenary session at the 8th Ehingbeti/Lagos Economic Summit on Tuesday, 16 February 2021, the First Bank CEO said, “The path to the growth of Nigerian economy is by growing the SME sector.
SME is a very important aspect of what we do at FBN because of its importance to the overall growth and development of the economy.”
Adeduntan disclosed that ”By March 2021 First Bank will be 127 years old, and is by far the oldest and largest bank in Nigeria.
The reason we continue to thrive and endure as an institution is our support for businesses that are relevant to the overall growth and development of the economy and the SMEs is a practical example. Our portfolio of SME is quite sizeable, giving the history of the FirstBank and Nigeria.”
Enumerating the bank’s support for the sector, he explained: “At FirstBank, we have a dedicated portal called SME Connect running for about 6 or 7 years through which we provide support for SMEs.
We offer advisory services to ensure we up their skills and capabilities in either preparing basic accounts statements, choice of technology, and supporting them to work through the system.
We have continuously refined the SME Connect platform to conform with latest standards. For example, we updated it with relevant adjustments to the new Company and Allied Matters Act CAMA Law.
In some practical terms, we provide term loans, overdraft and all types of structured debt instrument to our SME Customers.
Dr Adeduntan further added that, “Very importantly, the Central Bank of Nigeria (CBN) as part of its economic stimulant plan provides more liquidity for banks to enable them lend more to SMEs. FirstBank is active in that space, and so are other banks too.
“The Bankers Committee which consists of CBN Governors and CEOs of Banks also collectively decided and intervened on SME. We set up a fund with 5% of Profit After Tax to create a pool of fund which is available for funding SMEs.
We understand their importance in keeping the economy growing to ensure we have a positive economy.”
“I am always inspired when I meet businesses that are now relatively big or sizeable telling me how 20, 30, 40 years ago FBN helped in supporting them to pick up from the ground” he concluded enthusiastically.
The three-day summit held virtually from February 16-18 themed “For a Greater Lagos: Setting the Tone for the Next Decade”, with about 150 speakers, drawn from across the world speaking on various issues, including Dr Ngozi Okonjo Iweala, the newly appointed Director General of the World Trade Organization, President Mohammad Buhari and Dr Akinwunmi Adesina, president, African Development Bank (ADB).
The Ehingbeti Summit is a great recent tradition in Lagos State which has served as the bedrock for developmental discourse, a platform for engaging a wide range of stakeholders in the Lagos success story and an invaluable tool for molding our growth over the past 20 years.
Jointly created by the private and public sector of Lagos State, Ehingbeti is not merely a platform for discussions but also a veritable tool for driving socio-economic and infrastructure development in the State.
The Summit aims to generate and implement tangible ideas and innovations, many of which have been successfully executed by Lagos State to the benefit of all.
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ZENITH BANK EXPANDS FOOTPRINT WITH CÔTE D’IVOIRE SUBSIDIARY LAUNCH
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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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GTCO Food and Drink Festival 2026 Presents “Everything Food and Drink”
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Guaranty Trust Holding Company Plc (GTCO Plc) is pleased to announce the 9th edition of the GTCO Food and Drink Festival, scheduled to hold from Friday, May 1st to Sunday, May 3rd, 2026, at GTCentre, Plot 1 Water Corporation Drive, Oniru, Victoria Island, Lagos.Geographic Reference
This year’s theme, “Everything Food and Drink,” captures the expansive nature of the Festival experience. It reflects not only the variety of cuisines on display but also the depth of stories behind them. Over the years, the GTCO Food and Drink Festival has grown far beyond a seasonal celebration to become a culturally significant platform where food and drink serve as a meeting point for storytelling, innovation, and opportunity. The Festival will feature 204 free retail stalls, showcasing the rich diversity and creativity of our food culture; from time-honoured traditional dishes preserved across generations, to bold contemporary interpretations of global cuisine, creating space for every flavour, every technique, and every craving to find expression.
Visitors can expect a rich programme featuring interactive masterclasses, live culinary demonstrations, food and wine tastings, and a vibrant marketplace showcasing small and medium-scale food businesses alongside established culinary brands. In addition to its wide range of food and drink offerings, the GTCO Food and Drink Festival is renowned for its family-friendly atmosphere, with a well-equipped play area and a variety of engaging activities for children, ensuring an unforgettable experience for the whole family.
Speaking ahead of the 2026 edition, the Group Chief Executive Officer of GTCO Plc, Segun Agbaje, emphasized the Festival’s continued evolution as both a cultural and economic enabler: “The GTCO Food and Drink Festival has, over the years, become a living expression of what we stand for as an institution: innovation, opportunity, and enterprise that is accessible to all. What makes this platform special is not just its scale, but its humanity. It brings together people from different walks of life around something universal—food and drink—and in doing so, it breaks barriers and builds connections that extend far beyond the event itself.”
Since inception, the GTCO Food and Drink Festival has positioned itself as one of Africa’s most prominent culinary gatherings, attracting participation from across Nigeria and increasingly from the wider continent and diaspora.
Admission remains free and open to all, reaffirming the Festival’s commitment to accessibility as a consumer-focused event that brings people together through food, drink, culture, and enterprise.
For more information on the event, please visit: https://foodanddrink.gtcoplc.com
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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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