Jaiz Bank Awaits CBN Approval To Launch Collateral-Free SME Loans In 2026

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Jaiz Bank Awaits CBN Approval To Launch Collateral-Free SME Loans In 2026

Jaiz Bank Plc has disclosed plans to introduce a new financing model that would allow small and medium-sized businesses in Nigeria to access loans without relying on traditional collateral, pending regulatory approval from the Central Bank of Nigeria.

The proposed product is designed to assess borrowers primarily through cash-flow performance rather than fixed assets, with the bank positioning the initiative as part of efforts to improve access to finance and expand financial inclusion across underserved segments of the economy.

The lender said the product has already been developed and is currently awaiting final approval before rollout. Once introduced, eligible businesses and retail customers would be able to access financing based on transaction history and repayment capacity instead of conventional collateral requirements.

Brandspur Banking News Desk understands that the model may also incorporate alternative risk-management tools including guarantees and account-linked recovery structures intended to strengthen repayment confidence while reducing barriers that have historically limited SME borrowing.

The bank indicated that technology will play a central role in delivery, with plans to create a digital financing process that enables customers to initiate and complete applications remotely without visiting physical branches.

According to the bank’s broader growth strategy, the initiative aligns with ongoing efforts to deepen support for agriculture, micro and small businesses, and financially underserved communities through digital banking channels and agency networks.

Also read: https://brandspurng.com/2026/06/29/united-nigeria-airlines-announces-west-africa-expansion-with-new-routes-to-monrovia-dakar-abidjan-and-more-in-2026/

Alongside the financing announcement, shareholders approved plans for a fresh capital raise of up to ₦150 billion to support business expansion and strengthen the bank’s balance sheet. The institution expects the exercise to proceed in phases after obtaining the necessary approvals.

Jaiz Bank said the additional capital is expected to improve its capacity to fund larger transactions across agriculture, manufacturing, export trade and renewable energy while strengthening food security financing and alternative energy initiatives.

The lender also outlined operational expansion plans, including opening additional branches before year-end and extending presence across more Nigerian states as part of its medium-term growth ambitions.

Recent financial performance released by the bank showed continued growth in assets, deposits and profitability, reinforcing investor interest as the institution positions itself for wider scale within Nigeria’s non-interest banking sector and longer-term regional ambitions.

United Nigeria Airlines Announces West Africa Expansion With New Routes To Monrovia, Dakar, Abidjan And More In 2026

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United Nigeria Airlines Announces West Africa Expansion With New Routes To Monrovia, Dakar, Abidjan And More In 2026

United Nigeria Airlines has unveiled plans to expand its regional footprint with the launch of new routes across West Africa, targeting destinations including Monrovia, Banjul, Dakar, Abidjan and Conakry as part of a broader international growth strategy.

The airline said the expansion is designed to improve regional connectivity, support trade movement and create more direct travel options for passengers across West and Central Africa while positioning the carrier for wider international operations.

The announcement comes as United Nigeria Airlines continues to strengthen its market position in Nigeria’s aviation sector following recent fleet additions and ongoing aircraft acquisition plans intended to support network growth.

Brandspur Brand News gathered that the airline is also progressing discussions tied to an earlier partnership arrangement in Guinea-Bissau aimed at establishing a national carrier, a move expected to deepen its operational reach within the sub-region and strengthen fleet deployment opportunities.

Also read: https://brandspurng.com/2026/06/29/faan-orders-airport-taxi-operators-to-upgrade-fleet-to-2012-models-and-above-ahead-of-2026-enforcement-deadline/

Beyond West Africa, the airline is preparing for additional routes into Central Africa, with Douala and Libreville identified among priority destinations. Southern Africa also remains under consideration, with Johannesburg included in the airline’s medium-term network development plans.

The company further disclosed that long-haul expansion remains a strategic objective over the next two years, with destinations across Europe, North America and the Middle East under evaluation. Planned markets include the United Kingdom, United States, Canada, Turkey, Dubai and Saudi Arabia.

United Nigeria Airlines indicated that execution timelines will depend on aircraft deliveries, regulatory clearances and approvals from foreign aviation authorities before commercial operations can begin on each route.

As part of its expansion model, the airline is also exploring partnerships through interline and code-share agreements with domestic and international operators to accelerate market entry, optimise route economics and strengthen access to destinations where direct operations may not initially be viable.

The expansion signals growing ambition among Nigerian carriers to capture a larger share of regional and international passenger traffic while leveraging collaboration, fleet flexibility and evolving aviation opportunities across Africa.

FAAN Orders Airport Taxi Operators To Upgrade Fleet To 2012 Models And Above Ahead Of 2026 Enforcement Deadline

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FAAN Orders Airport Taxi Operators To Upgrade Fleet To 2012 Models And Above Ahead Of 2026 Enforcement Deadline

The Federal Airports Authority of Nigeria has directed all airport taxi operators across the country to upgrade their vehicles to 2012 models and newer as part of a broader modernisation initiative aimed at enhancing ground transportation standards, safety protocols, and overall passenger experience at Nigerian airports.

The directive, which is expected to be fully enforced by 2026, requires operators to replace older vehicles in their fleets with more contemporary models that meet improved safety and efficiency benchmarks. The policy represents a significant shift in airport transportation regulation and aligns with international best practices in aviation ground services.

Brandspur Brand News understands that the new requirement has sparked concerns among operators who have raised issues about the financial implications of fleet replacement amid prevailing economic challenges in the country. Industry stakeholders have reportedly requested additional time to comply with the directive, citing the substantial capital outlay required to acquire newer vehicles.

The FAAN directive comes as part of a comprehensive strategy to reposition Nigeria’s airport infrastructure and services to meet global standards. Airport ground transportation has long been identified as a critical component of the passenger experience, and the authority’s move signals a commitment to improving this segment of aviation services.

Operators across Nigeria’s major airports, including Murtala Muhammed International Airport in Lagos, Nnamdi Azikiwe International Airport in Abuja, and Port Harcourt International Airport, will be affected by the new regulations. The fleet upgrade requirement applies to all taxi services operating within airport premises and providing transportation to passengers.

Also read: https://brandspurng.com/2026/06/29/bua-foods-relaunches-bua-rice-amid-n14-9-billion-q1-revenue-surge-in-2026/

The financial burden of replacing older vehicles has emerged as the primary point of contention, with operators arguing that the current economic climate makes large-scale fleet renewal particularly challenging. Many operators have expressed willingness to comply with the modernisation drive but have called for a more flexible timeline that would allow for gradual implementation.

FAAN’s push for fleet modernisation reflects a broader trend in Nigeria’s aviation sector, where regulatory authorities have been implementing various measures to enhance safety, efficiency, and service quality. The airport taxi upgrade initiative joins other recent reforms aimed at improving the overall travel experience for domestic and international passengers.

The 2026 enforcement deadline provides operators with a transition period, although concerns persist about whether this timeframe is sufficient given the scale of investment required. Industry observers note that the policy could potentially lead to increased operational costs, which may ultimately affect passenger fares.

As the implementation date approaches, stakeholders are expected to engage in further discussions with FAAN to address the practical challenges of compliance while ensuring that the modernisation objectives of the policy are achieved without unduly burdening operators.

BUA Foods Relaunches BUA Rice Amid N14.9 Billion Q1 Revenue Surge In 2026

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BUA Foods Relaunches BUA Rice Amid N14.9 Billion Q1 Revenue Surge In 2026

Nigerian billionaire Abdul Samad Rabiu is overseeing the strategic reintroduction of BUA Rice into the country’s branded rice market as BUA Foods Plc. moves to strengthen its position in Nigeria’s staple food sector following a strong first-quarter performance in 2026.

The rice division generated N14.9 billion ($11 million) in revenue during the first three months of 2026, representing 4 percent of the group’s total revenue and marking an increase from the 3 percent contribution recorded in the same period of the previous year. The improved milling output and expanded production capacity have been instrumental in driving this growth trajectory.

BUA Foods has been restructuring its product strategy, with the rice brand returning to retail shelves amid intensifying competition in Nigeria’s food market. The relaunch comes on the heels of a significantly stronger 2025 performance, during which rice revenue surged considerably due to wider market penetration and enhanced distribution networks across the country.

Brandspur Brand News understands that operational leadership changes and improved supply chain dynamics have supported the company’s decision to reintroduce the brand, positioning BUA Rice to capture a larger share of consumer demand as the company navigates ongoing price fluctuations and shifting consumer preferences in the staple food segment.

The move represents a strategic pivot for BUA Foods as it seeks to consolidate its presence in the branded rice category, a highly competitive segment dominated by established players. Industry analysts note that the company’s improved milling capabilities and distribution infrastructure provide a solid foundation for reclaiming market share in a sector where consumers increasingly prioritise quality and brand reliability.

Also read: https://brandspurng.com/2026/06/29/paystack-launches-ai-powered-checkout-for-nigerian-consumers-in-2026-expansion-push/

BUA Rice’s contribution to group revenue has grown steadily, reflecting the company’s investment in production efficiency and market expansion strategies. The Q1 2026 performance builds on momentum from the previous year, when the rice division recorded substantial growth driven by increased production output and successful market penetration initiatives.

The reintroduction of BUA Rice comes at a time when Nigeria’s rice market continues to experience significant demand, with consumers seeking affordable and quality options amid economic pressures. BUA Foods’ strategic focus on the staple food sector aligns with broader trends in Nigeria’s agribusiness landscape, where major players are investing in local production capacity to reduce reliance on imports.

Abdul Samad Rabiu’s BUA Group has consistently expanded its footprint across Nigeria’s consumer goods sector, with BUA Foods Plc. emerging as a key player in the country’s food and beverage industry. The company’s decision to relaunch BUA Rice signals confidence in the brand’s potential to compete effectively in the branded rice market.

As BUA Foods continues to refine its product strategy, the rice division’s performance will be closely watched by industry observers and investors monitoring the company’s growth trajectory in Nigeria’s competitive food manufacturing sector.

Paystack Launches AI-Powered Checkout For Nigerian Consumers In 2026 Expansion Push

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Paystack Launches AI-Powered Checkout For Nigerian Consumers In 2026 Expansion Push

Paystack has unveiled a new experimental checkout product that allows consumers in Nigeria to complete transactions through artificial intelligence agents, marking one of the company’s most direct moves into AI-driven commerce.

The product, called Paystack Index, enables users to initiate and complete selected purchases through supported AI platforms while payments continue to run on Paystack’s existing infrastructure. The rollout begins with limited early access for selected users in Nigeria.

The launch reflects growing interest in integrating AI into everyday digital services as consumers increasingly use AI tools beyond information searches and into task execution. Brandspur Banking News Desk understands that the product was developed with support from TSG Labs, the venture studio of The Stack Group, which owns Paystack.

According to the company, the system currently works with selected AI clients and supports transactions including airtime and mobile data purchases, wallet funding and transfers through Zap, and food ordering from participating merchants.

Also read: https://brandspurng.com/2026/06/29/tolaram-group-awards-cash-prizes-employment-to-winner-of-2026-nimn-marketing-competition-in-port-harcourt/

The new checkout layer functions by receiving instructions from AI assistants, confirming whether a transaction is supported, validating permissions, and directing requests to relevant services before payments are completed using Paystack’s payment rails.

Paystack said the product has been designed to ensure users maintain control over approved transactions. The company added that it does not retain sensitive payment information such as card verification details, banking credentials, or personal identification numbers within the Index experience.

The company is initially restricting access to a curated set of services and merchants during the beta phase to monitor behaviour and understand whether AI-assisted transactions become part of regular consumer habits.

Executives at Paystack said the initiative reflects a broader expectation that AI could emerge as a major interface for commerce, influencing how consumers discover products, make decisions, and complete purchases across digital channels.

The rollout also signals wider technology ambitions within TSG Labs, which is exploring additional infrastructure opportunities for African markets, including stablecoin-related innovations and future payment experiences.

Paystack said it plans to gradually expand Index to additional merchants, services, features, and African markets as it gathers insights from early user activity and refines the AI-led checkout experience.

Tolaram Group Awards Cash Prizes, Employment To Winner Of 2026 NIMN Marketing Competition In Port Harcourt

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Tolaram Group Awards Cash Prizes, Employment To Winner Of 2026 NIMN Marketing Competition In Port Harcourt

The Tolaram Group has rewarded outstanding marketing students with cash prizes and a direct employment opportunity following the conclusion of the 2026 NIMN Market-Ready Marketer Competition held during the Student Marketing Conference in Port Harcourt, Rivers State.

Adjaine Josiah Omeiza, a 300-level Marketing student from the University of Port Harcourt, emerged as the overall winner of the highly competitive contest and was crowned the 2026 NIMN Market-Ready Marketer. The competition, which formed part of the broader 2026 Annual Marketing Conference and Annual General Meeting of the Nigerian Institute of Marketing of Nigeria, attracted participants from tertiary institutions nationwide.

The Student Marketing Conference, sponsored by the Tolaram Group, was convened under the theme “From Classroom to Marketplace” and served as a platform to bridge the gap between academic marketing theories and practical industry realities. The event ran alongside the main NIMN conference themed “Community, Culture and Connection: Reimagining the New Market,” which drew marketing professionals and stakeholders from across the country to the Garden City.

Industry observers have noted that Tolaram Group’s intervention comes at a time when Nigeria’s marketing sector faces a critical need for skilled talent equipped to navigate the evolving consumer landscape. The company’s decision to provide employment to the winner signals a strategic investment in developing the next generation of marketing professionals in the country.

Brandspur Brand News understands that the initiative reflects a growing trend among major corporations to actively participate in shaping marketing education and professional development in Nigeria. The cash prizes awarded to students are expected to provide financial support for their academic pursuits, while the employment offer represents a significant career boost for the overall winner.

The 2026 NIMN Market-Ready Marketer Competition evaluated participants on various practical marketing competencies, including strategic thinking, brand communication, and market analysis. Students were required to demonstrate their ability to apply classroom knowledge to real-world marketing challenges, aligning with the conference’s focus on practical industry readiness.

Also read: https://brandspurng.com/2026/06/27/fidelity-bank-wins-dbn-award-for-expanding-first-time-credit-access-to-msmes/

Tolaram Group’s sponsorship of the competition aligns with its broader corporate social responsibility strategy, which prioritises education and skills development in communities where the company operates. The multinational conglomerate, with significant interests in consumer goods, infrastructure, and energy sectors across Nigeria, has consistently supported initiatives that foster talent development and economic growth.

The University of Port Harcourt’s Adjaine Josiah Omeiza will now proceed to the next phase of the programme, which includes a structured employment pathway with the Tolaram Group. The development has generated considerable interest among marketing students and educators, with many viewing it as a model for industry-academic collaboration in Nigeria’s higher education system.

The NIMN’s Annual Marketing Conference and AGM continue to serve as critical platforms for shaping the direction of marketing practice in Nigeria, with this year’s edition focusing on community engagement and cultural relevance in an increasingly connected marketplace.

Open Channels FM: Six Months In: What Open Channels FM Has Been Talking About in 2026

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In the first half of 2026, conversations on AI’s impact, WordPress 7.0 launch, and the importance of the open web emerged. Key themes included rethinking work, community, and embracing uncertainty.

Matt: Om Links

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Matt: Om Links

There has been a lot of excitement about the OmFest idea. If you’d like to attend or contribute, please fill out this form as soon as possible so we can gauge the type of venue we need.

It’s truly a testament to how Om lived life to see the outpouring of remembrances in comments on the post and around the web on Techmeme.

I do wish he had been more public earlier in his health journey. You never know what you’ll learn. I’ll take that as a lesson for myself if I’m ever in a similar situation.

There have been some great long-form writings about Om:

I know I’m missing a ton, I’ll update the above. I also added a few more vignettes and pictures to the last post.

Matt: Om Links

Brand Spur
-
0

There has been a lot of excitement about the OmFest idea. If you’d like to attend or contribute, please fill out this form as soon as possible so we can gauge the type of venue we need.

It’s truly a testament to how Om lived life to see the outpouring of remembrances in comments on the post and around the web on Techmeme.

I do wish he had been more public earlier in his health journey. You never know what you’ll learn. I’ll take that as a lesson for myself if I’m ever in a similar situation.

There have been some great long-form writings about Om:

I know I’m missing a ton, I’ll update the above. I also added a few more vignettes and pictures to the last post.

Fidelity Bank Wins DBN Award For Expanding First-time Credit Access To MSMEs

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Fidelity Bank Wins DBN Award For Expanding First-time Credit Access To MSMEs

Fidelity Bank Plc has again reinforced its leadership in small and medium-scale business banking as it emerged the winner of the Development Bank of Nigeria (DBN) Service Ambassadors Award for the Highest Impact on MSMEs Accessing Credit for the First Time.

The award recognises the Deposit Money Bank that has successfully onboarded previously unbanked or credit excluded Micro, Small and Medium Enterprises across Nigeria, reflecting Fidelity Bank’s sustained commitment to deepening financial inclusion, improving access to credit and supporting enterprise growth.

Speaking on the recognition, Divisional Head, Small and Medium-scale Enterprises Banking, Fidelity Bank Plc, Ugochi Osinigwe, expressed appreciation to DBN and reaffirmed the bank’s commitment to the growth of small and medium-scale businesses across the country.

“We sincerely thank the Development Bank of Nigeria for this recognition, which affirms the impact of our work in expanding access to finance for MSMEs, especially businesses accessing formal credit for the first time. At Fidelity Bank, we remain devoted to supporting SMEs with the right mix of funding, advisory services, capacity building, market access and digital solutions that enable them to grow, create jobs and contribute meaningfully to the economy,” Osinigwe said.

She added that the award would further encourage the bank to deepen its interventions in the SME sector and continue to provide practical solutions that help entrepreneurs overcome barriers to growth.

The latest recognition builds on Fidelity Bank’s long-standing partnership with DBN and its consistent support for Nigeria’s MSME ecosystem. In 2025, the bank received the DBN Innovation Award in the Deposit Money Bank category, in recognition of its outstanding contribution to the development and delivery of innovative financial products and services tailored to MSMEs. The bank had also received the 2020 DBN Service Award for the Highest Disbursement to DBN-focused locations, a recognition that highlighted its role in facilitating access to affordable funding for small and medium-scale businesses across targeted markets.

Also read: https://brandspurng.com/2026/06/26/digital-pay-expo-2026-palmpay-calls-for-trust-infrastructure-and-responsible-ai-to-drive-payment-ecosystem-innovation/

Over the years, Fidelity Bank has implemented several initiatives that support small and medium-scale businesses beyond access to loans. For instance, the bank established the Fidelity SME Hub in Gbagada, Lagos, as a dedicated facility for entrepreneurs, offering access to training halls, meeting rooms, networking spaces, business advisory support and creative studios for content production.

The bank also recently launched its Fidelity Quarterly Business Forum, a strategic engagement platform designed to connect SME founders, business leaders, policymakers and industry experts for practical discussions on business growth, trade, innovation and sustainability. The maiden edition, held in Port Harcourt, focused on scaling trade and distribution businesses for sustainable growth, while providing entrepreneurs with relevant insights, networking opportunities and advisory support.

In addition, Fidelity Bank has continued to support entrepreneurs through its SME Masterclass Series, which deliver practical capacity building in areas such as pricing, product quality, online sales, business visibility and preparation for international expansion. The initiative forms part of the bank’s broader commitment to equipping SMEs with tools they can apply immediately to improve competitiveness and profitability.

The bank has also played a key role in the disbursement of the Federal Government of Nigeria MSME Intervention Funds, administered by the Bank of Industry, with a strategic focus on supporting qualified businesses and empowering women owned enterprises. Through its nationwide branch network, digital banking platforms and experienced relationship managers, Fidelity Bank continues to provide structured support to entrepreneurs across urban and rural communities.

Fidelity Bank’s broader SME support architecture also includes export development and market access programmes. Through the Fidelity Nigeria International Trade and Creative Connect, the bank connects Nigerian businesses to international markets, including the United Kingdom and the United States. It also partners with the Nigerian Export Promotion Council and Lagos Business School on the Export Management Programme, which equips entrepreneurs and aspiring exporters with the skills, knowledge and networks required to compete in regional and global markets.

The bank’s partnership with the National Credit Guarantee Company further strengthens its support for MSMEs by helping to reduce lending risks and expand access to finance. The collaboration also includes financial literacy and business management training to help MSME beneficiaries manage their loans effectively and build sustainable enterprises.

With these interventions, Fidelity Bank continues to demonstrate a multi-dimensional approach to SME development, combining finance, advisory services, capacity building, digital enablement, market access and strategic partnerships to support businesses at different stages of growth.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving more than 10 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 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME support; Best Retail and SME Bank Award from Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards. The Bank also received the inaugural Most Improved Commercial Bank of the Year award by Nairametrics, the SME Bank of the Year award by NewsDirect, and the Straight-Through Processing (STP) Excellence Award by Citi Group, in addition to recognition by Global Brands Magazine for Excellence in Community Empowerment.

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