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IWD: Unity Bank, AltSchool Africa Partner to Empower Female Software Engineers

Published

3 years ago

March 10, 2022

In commemoration of International Women’s Day, IWD 2022, Nigeria’s retail lender, Unity Bank Plc is partnering AltSchool Africa to sponsor female students towards the acquisition of specialist software skills – an empowerment initiative to boost the capacity of the female gender.

AltSchool Africa is a school for individuals looking to gain technical skills and kick start a career in Software Engineering. The school currently prides itself on the large enrolment of female students. Unity Bank Plc is providing funds to encourage enrolment of young female students into AltSchool who will pursue a career in Informational Technology.

The Bank said in a statement that the gesture has become imperative to #BreakTheBias against women in the emerging information technology industry, where a recent study by ONE Campaign and the Center for Global Development, showed that less than 30 per cent of technology companies in Nigeria are owned by women, even as the female members of the entire tech ecosystem workforce constituted less than 20 per cent.

Speaking on the partnership, Unity Bank’s Managing Director/Chief Executive Officer, Mrs. Tomi Somefun said the initiative to extend the scholarships to the young women looking to start a career in the IT industry not only aligned with the theme of the IWD 2022, “#BreakTheBias,” but is in tandem with the Bank’s Corporate Social Responsibility and sustainability initiative targeting education and empowerment.

She said: “The International Women’s Day is yet another opportunity to reexamine the critical role that women continue to play in building a peaceful and prosperous society. Today, more than ever before, we are confronted by the harsh realities of gender-based exclusivity, especially in the workplace.

“I agree that some progress has been made but we must not be distracted by this momentary success because, over the next decade, the share of jobs requiring medium to digital skills would have risen to more than 50 per cent. Therefore, we must remain committed to empowering women who are courageous to make a difference in careers that have hitherto excluded the women, such as the IT industry.”.

According to Mrs. Somefun, “The advancement in technology has created a new world order that must be deliberate about inclusivity, removing biases and unlearning stereotypes. If future prosperity shall be defined by technological and requisite skills, we must not repeat the mistakes of the past by ensuring diversity, equity and inclusivity and empower our women to take an active part in creating that future.”

The International Women’s Day, IWD is a day set aside globally to celebrate the social, economic, cultural and political achievements of women and reflect on action to accelerate gender equality. This years’ theme #BreakTheBias “imagines a gender-equal world, a world free of bias, stereotypes and discrimination; a world that’s diverse, equitable, and inclusive; a world where difference is valued and celebrated.”

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

Published

6 days ago

June 13, 2025

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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

Published

2 weeks ago

June 7, 2025

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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

Published

2 weeks ago

June 6, 2025

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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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