Customs And BAT Nigeria Seal Anti-Smuggling Pact To Protect Legitimate Tobacco Trade

The Nigeria Customs Service and British American Tobacco Nigeria have formalised a strategic partnership through a Memorandum of Understanding signed on Thursday, establishing a collaborative framework to combat illicit tobacco trafficking and enhance regulatory compliance across the country’s tobacco value chain. The agreement, finalised at the NCS headquarters in Abuja, represents a significant step in strengthening public-private sector cooperation against the growing menace of smuggling that undermines government revenues and creates unfair competition for compliant businesses operating within the legal framework.

The partnership is designed to facilitate intelligence sharing, coordinated enforcement operations, and capacity building initiatives that will enable both organisations to more effectively identify and disrupt illicit trade networks operating within and across Nigeria’s borders. The MoU comes at a time when the federal government is intensifying efforts to secure its borders, protect domestic industries, and create a business environment that attracts and retains legitimate investment in the manufacturing sector.

Brandspur Brand News gathered that the Comptroller-General of Customs, Adewale Adeniyi, described the agreement as a strategic instrument that would deepen collaboration between the service and BATN in addressing illegal cross-border trade while ensuring greater compliance across the entire tobacco value chain. Adeniyi emphasised that the partnership sends a strong message to both local and international investors about Nigeria’s unwavering commitment to protecting legitimate enterprises and fostering an enabling environment where responsible businesses can thrive without the distortions caused by illicit operators.

The Customs chief noted that illicit trade remains a formidable global challenge, siphoning government revenues, distorting market dynamics, weakening regulatory frameworks, and creating an uneven playing field that punishes compliant businesses while rewarding those who operate outside the law. In Nigeria, the fight against smuggling has gained renewed urgency as the government seeks to bolster domestic revenue generation, improve border security architecture, and promote sustainable economic growth through the protection of local industries and the enhancement of trade facilitation measures.

The Managing Director of BAT Nigeria, Yarub Al-Bahrani, characterised the agreement as a landmark development that reflects the strength of the relationship between his organisation and the NCS while reinforcing a shared commitment to responsible business practices and regulatory adherence. Al-Bahrani stressed that effective collaboration between the public and private sectors is critical to protecting legitimate commerce, supporting regulatory compliance, and fostering a business climate where responsible enterprises can contribute meaningfully to economic development and job creation.

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The partnership is expected to foster a more coordinated approach to combating illicit trade both within Nigeria and across its borders, supporting stronger enforcement mechanisms, protecting legitimate commerce, and reinforcing Nigeria’s compliance with domestic laws and relevant international obligations. The MoU provides a structured framework for information exchange that will enable both parties to stay ahead of evolving smuggling tactics and adapt their enforcement strategies accordingly, ensuring that legitimate businesses are not undercut by illicit operators who evade taxes and regulatory oversight.

Industry analysts have welcomed the development, noting that the tobacco sector has historically been vulnerable to smuggling and counterfeiting activities that not only deprive the government of substantial tax revenues but also expose consumers to unregulated products that may pose significant health risks. The collaboration between Customs and BAT Nigeria is seen as a model for how regulatory agencies and private sector operators can work together to address complex enforcement challenges that neither party can effectively tackle alone.

The MoU also aligns with broader government initiatives aimed at improving the ease of doing business in Nigeria, as the administration recognises that effective enforcement against smuggling is essential to creating a level playing field for all market participants. By reducing the prevalence of illicit tobacco products, the partnership is expected to enhance the competitiveness of locally manufactured goods, support domestic employment in the manufacturing sector, and contribute to the overall goal of economic diversification and industrial development.

Federal Government Unveils Seven Million Meter Rollout Plan To End Estimated Billing In 2026

The Federal Government has announced an ambitious plan to deploy seven million electricity meters nationwide, marking a decisive intervention in Nigeria’s power sector reform agenda aimed at eliminating the long-standing practice of estimated billing and improving revenue assurance for electricity distribution companies. The massive metering initiative, unveiled today as part of a comprehensive programme to restore consumer confidence in the struggling power sector, represents one of the largest single metering rollouts in the country’s history and signals a fundamental shift in how electricity consumption will be measured and billed across the national grid.

The deployment strategy targets both residential and commercial customers currently operating under estimated billing frameworks, with the government prioritising underserved areas where metering gaps have been most pronounced and consumer complaints about inflated bills have been most frequent. The programme is designed to address the persistent disconnect between electricity consumed and revenue collected by distribution companies, which has historically undermined the financial viability of the power sector and discouraged necessary investments in generation and transmission infrastructure.

Brandspur Banking News Desk gathered that the metering initiative forms a critical component of broader power sector reforms being pursued by the administration, which include tariff restructuring, improved collection efficiency, and enhanced regulatory oversight of distribution companies’ performance. The government has acknowledged that the estimated billing system has been a primary source of friction between consumers and power utilities, eroding public trust and creating significant disincentives for timely bill payments that are essential for the sector’s sustainability.

The seven million meter deployment is expected to be executed through a combination of government-funded procurement, distribution company obligations under their performance improvement plans, and private sector participation through meter asset provider schemes that allow third-party investors to finance, install, and maintain meters in exchange for cost recovery through tariffs. This multi-pronged approach aims to accelerate deployment timelines while minimising the fiscal burden on the government, leveraging private capital to bridge the metering gap that has persisted for decades.

Industry experts have welcomed the announcement, noting that universal metering is foundational to achieving operational efficiency in the power sector, as it enables accurate consumption tracking, reduces technical and commercial losses, and provides distribution companies with reliable data for load forecasting and network planning. The initiative is also expected to empower consumers with transparent information about their energy usage, enabling them to make informed decisions about conservation and demand management, particularly in a high-cost energy environment.

The rollout comes against the backdrop of ongoing challenges in Nigeria’s electricity market, including liquidity constraints, infrastructure deficits, and policy uncertainties that have hampered the sector’s ability to attract the substantial investments required for comprehensive modernisation. The government has framed the metering programme as a confidence-building measure that will demonstrate its commitment to addressing the structural deficiencies that have plagued the power sector since privatisation, while also creating new business opportunities for local meter manufacturers and installation contractors.

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DisCos are expected to collaborate closely with the Nigerian Electricity Regulatory Commission to ensure that the meter deployment adheres to established technical standards and consumer protection guidelines, with particular attention to the quality and accuracy of the meters being installed. The regulatory framework will also address concerns about estimated billing during the transition period, ensuring that consumers are not subjected to arbitrary charges while awaiting meter installation under the new programme.

Consumer advocacy groups have cautiously welcomed the announcement while urging the government to ensure transparent implementation and rigorous oversight to prevent the kind of procurement irregularities that have undermined previous metering initiatives. The success of the programme will depend significantly on effective coordination between federal and state authorities, timely release of funding, and the capacity of local meter manufacturers to meet the unprecedented demand for metering equipment that the rollout will generate.

As Nigeria continues to grapple with the economic implications of an unreliable power supply, the metering initiative is seen as a critical enabler for industrial growth, small business productivity, and household welfare, with accurate billing expected to reduce the financial burden on consumers who have long complained about paying for electricity they did not consume. The government has indicated that the seven million meters represent an initial phase of a more extensive rollout, with additional deployments planned to achieve near-universal metering coverage across the country in the coming years.

President Tinubu Appoints Kunle Elebute As FRCN Board Chairman To Boost Corporate Governance

President Bola Ahmed Tinubu has appointed Mr. Kunle Elebute as the new Chairman of the Governing Board of the Financial Reporting Council of Nigeria (FRCN), a move aimed at reinforcing the country’s corporate governance framework and restoring investor confidence in the nation’s financial reporting ecosystem. The appointment was confirmed in an official statement issued by the Presidency on Thursday, June 18, 2026, signalling the administration’s commitment to enhancing transparency and accountability across Nigeria’s corporate sector.

Elebute, a seasoned financial expert and former senior partner at KPMG Africa, brings decades of experience in audit, assurance, and financial advisory services to the regulatory body, positioning him to lead critical reforms in Nigeria’s financial reporting landscape. His appointment comes at a time when the FRCN is tasked with overseeing compliance with international financial reporting standards, investigating corporate malfeasance, and ensuring that public interest entities adhere to the highest levels of fiscal discipline and disclosure.

The new chairman’s extensive background in professional services, including his tenure at one of the world’s leading audit firms, is expected to bring international best practices to the council’s operations, particularly in areas of financial statement quality, auditor oversight, and enforcement of accounting regulations. Brandspur Politics understands that Elebute’s appointment is part of a broader strategy by the Federal Government to reposition the FRCN as a credible and effective regulator capable of safeguarding the integrity of Nigeria’s capital markets and attracting foreign direct investment.

The FRCN has historically played a pivotal role in shaping Nigeria’s financial reporting architecture, with the council responsible for setting accounting standards, registering professional accountants, and sanctioning entities that violate reporting obligations. Elebute’s leadership is anticipated to accelerate ongoing efforts to digitalise the council’s processes, enhance its investigative capabilities, and foster greater collaboration with international standard-setting bodies to align Nigeria’s reporting framework with global benchmarks.

This appointment follows the government’s recognition of the critical link between robust financial reporting and economic growth, particularly as Nigeria seeks to deepen its capital markets and attract portfolio investments from institutional investors who demand transparency and predictability in corporate disclosures. The presidency’s statement emphasised that Elebute’s selection reflects the administration’s dedication to appointing individuals of proven competence and integrity to leadership positions in regulatory agencies that influence the business environment.

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Industry stakeholders have welcomed the appointment, noting that Elebute’s track record in financial advisory and his understanding of both local and international regulatory landscapes make him well-suited to navigate the complexities of Nigeria’s evolving financial reporting ecosystem. His experience advising multinational corporations and government entities across Africa is expected to prove invaluable in addressing persistent challenges such as earnings manipulation, incomplete disclosures, and the slow adoption of sustainability reporting standards among Nigerian companies.

The new FRCN chairman assumes office amid growing calls for stronger enforcement mechanisms to deter corporate scandals and protect the interests of minority shareholders and other stakeholders. Under his guidance, the council is likely to prioritise capacity building among its staff, strengthen partnerships with the Securities and Exchange Commission and other regulators, and intensify public awareness campaigns on the importance of accurate financial reporting for economic development.

Elebute’s appointment also signals continuity in the government’s efforts to professionalise regulatory agencies, with a particular focus on leveraging private sector expertise to improve public sector governance. His leadership is expected to foster a more collaborative approach to regulation, engaging with professional bodies, industry associations, and civil society organisations to build consensus around reforms that enhance the quality of financial information available to investors and the general public.

Only Six Percent Of Nigerians Access Formal Credit As 2026 Report Exposes Deep Financing Gap In Economy

A new nationwide financial study has revealed that Nigeria’s credit market remains significantly underdeveloped, with just about 6 per cent of adults currently able to access loans from formal financial institutions, despite rising levels of financial inclusion across the country.

The Credit Landscape Report 2025, released in June 2026, shows a sharp imbalance in the financial system where more than 64 per cent of adults are now financially included, yet access to structured credit remains extremely limited. The findings indicate that lending to the private sector represents only 13.1 per cent of Nigeria’s Gross Domestic Product, a figure that trails behind several comparable African economies.

Brandspur Banking News Desk reports that the report also highlights structural weaknesses affecting small businesses and households, noting that microfinance institutions contribute just 5.4 per cent of total lending activity, leaving a wide gap in support for informal and underserved sectors.

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Despite ongoing economic expansion in manufacturing, agriculture, and services throughout 2025, access to working capital and business financing remains constrained, slowing potential growth across key industries.

The study further shows gradual improvement in lending activity, with a microfinance institution recording an increase in its loan portfolio from N1.372 billion at the end of 2025 to N1.558 billion by the first quarter of 2026, reflecting rising demand for credit among small enterprises.

Financial services stakeholders emphasise the need to strengthen not only lending systems but also savings culture, insurance coverage, and risk protection mechanisms to build long-term economic resilience for individuals and businesses across Nigeria.

Reckitt Nigeria Appoints Toyin Saraki, Abimbola Olashore To Board Following Chairman’s Passing

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Reckitt Benckiser Nigeria Limited has strengthened its board of directors with the appointment of H.E. Mrs. Toyin Saraki and Prince Abimbola Olashore as Independent Non-Executive Directors, a strategic move aimed at deepening the company’s governance framework and advancing its long-term growth objectives in the Nigerian market. The appointments, announced today by the multinational consumer goods giant, come in the wake of the passing of the company’s Board Chairman, Chief Michael Olumuyiwa Falomo, whose decades of stewardship significantly shaped the organisation’s trajectory and corporate governance standards.

Mrs. Saraki, a globally recognised healthcare advocate and Founder-President of The Wellbeing Foundation Africa, brings over two decades of experience in maternal, newborn, and child health, gender equity, and community wellbeing initiatives to the Reckitt Nigeria board. Her extensive portfolio includes her current role as the inaugural Global Health Ambassador for the WHO Foundation, as well as advisory and leadership positions with prominent international bodies such as the World Health Organization, the World Economic Forum, the AstraZeneca Global Breast Cancer Care Council, and the Bayer Sustainability Council, positioning her as a valuable asset in guiding the company’s corporate social responsibility and public health-oriented strategies.

Prince Abimbola Olashore, a seasoned business leader and investment professional, joins the board with a wealth of experience across finance, corporate governance, and strategic management, further bolstering the company’s capacity to navigate Nigeria’s complex business environment. His appointment is expected to enhance the board’s oversight capabilities, particularly in areas of risk management, regulatory compliance, and stakeholder engagement, as Reckitt Nigeria seeks to consolidate its market position amid evolving consumer preferences and competitive pressures.

Brandspur Brand News understands that the appointments reflect Reckitt’s commitment to maintaining robust governance structures following the transition occasioned by Chief Falomo’s demise, with the company emphasising continuity and the infusion of fresh perspectives to drive its strategic priorities. The late chairman’s legacy of leadership and governance excellence was acknowledged by the company, which credited his stewardship with playing a pivotal role in shaping the organisation’s growth trajectory and institutional integrity over several decades.

The addition of Mrs. Saraki and Prince Olashore to the board comes at a critical juncture for Reckitt Nigeria, as the company navigates shifting consumer dynamics, regulatory developments, and the need for enhanced sustainability practices across its operations. The company’s portfolio includes leading household and hygiene brands, and the new directors’ combined expertise in public health, community development, and corporate finance is expected to support the company’s efforts to align its business objectives with broader societal impact goals.

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Mrs. Saraki’s appointment is particularly significant given her established track record in health advocacy and her ability to forge partnerships across public and private sectors, which could prove instrumental in advancing Reckitt’s health and hygiene initiatives in Nigeria. Her work with the WHO Foundation and other international health organisations has positioned her as a thought leader in areas directly relevant to the company’s product portfolio, including sanitation, maternal health, and disease prevention.

For Prince Olashore, whose career spans investment banking, corporate advisory, and board leadership roles across multiple sectors, the appointment represents an opportunity to apply his financial acumen and governance experience to support Reckitt Nigeria’s strategic expansion plans. His understanding of the Nigerian economic landscape and corporate governance best practices is expected to strengthen the board’s decision-making processes and oversight of management execution.

The appointments have been widely welcomed within Nigeria’s corporate governance community, with industry observers viewing the move as a testament to Reckitt’s dedication to board diversity and the integration of expertise from non-traditional business backgrounds. The company’s decision to fill the vacancies with individuals of such calibre underscores its recognition of the importance of strong governance in driving sustainable business performance and maintaining stakeholder trust in an increasingly competitive marketplace.

As Reckitt Nigeria moves forward under its renewed board structure, the company is expected to focus on accelerating its growth agenda, deepening consumer engagement, and reinforcing its commitment to environmental, social, and governance principles that resonate with Nigerian consumers and regulators alike.

FirstBank’s FirstAdvance Hits N1 Billion Daily Disbursement Milestone In 2026

FirstBank Nigeria has recorded a landmark achievement with its digital salary-backed loan product, FirstAdvance, crossing the N1 billion threshold in single-day loan disbursements, signalling a major shift in the country’s retail lending landscape. The development, announced by the financial institution on Tuesday, underscores the surging demand for instant, collateral-free credit solutions among Nigerian salary earners and reinforces the bank’s growing dominance in the digital banking space.

The N1 billion daily disbursement figure represents a significant uptick in customer adoption of FirstBank’s digital lending ecosystem, with the product now processing thousands of loan applications within minutes of submission. FirstAdvance, which is designed exclusively for eligible salary account holders, allows customers to access short-term funds in under 60 seconds without the traditional bottlenecks of collateral requirements or lengthy paperwork, addressing the urgent liquidity needs of Nigeria’s working-class population.

Brandspur Banking News Desk gathered that the milestone reflects broader trends in Nigeria’s financial services sector, where digital lending platforms are increasingly displacing conventional over-the-counter loan processes as consumers demand faster, more convenient access to credit. The achievement also positions FirstBank as a frontrunner in the competitive digital lending space, where several commercial banks have rolled out similar products in recent years to capture the growing market of tech-savvy salary earners seeking emergency funding for medical expenses, school fees, rent payments, and other time-sensitive obligations.

The product’s success is particularly noteworthy given the prevailing economic climate, with many Nigerian households facing mounting financial pressures from rising living costs and inflationary trends. FirstAdvance offers loan amounts typically ranging from a percentage of the customer’s monthly salary, with repayment automatically deducted from the borrower’s account at the next salary credit date, ensuring a seamless and disciplined repayment structure that minimizes default risks for the bank.

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Since its launch, FirstAdvance has undergone several enhancements to improve user experience, including integration with the bank’s mobile app and USSD channels, making it accessible to customers across all network providers without requiring internet connectivity. The product’s eligibility criteria are designed to be inclusive, covering a wide spectrum of salary earners from both public and private sector organisations that maintain their payroll accounts with FirstBank.

Industry analysts have interpreted the N1 billion daily disbursement milestone as a validation of the bank’s technology-first strategy, which has seen significant investment in digital infrastructure and artificial intelligence-driven credit scoring models that enable rapid risk assessment and approval decisions. The achievement also highlights the untapped potential of Nigeria’s consumer lending market, where millions of formally employed individuals remain underserved by traditional credit assessment methods that rely heavily on physical collateral and extensive documentation.

The bank’s digital lending portfolio has been a key driver of its retail banking growth, with FirstAdvance contributing substantially to non-interest income streams and customer retention metrics. The product’s popularity has also spurred increased account opening activities, as new customers seek to benefit from the convenience of salary-based lending, creating a virtuous cycle that strengthens FirstBank’s deposit base and cross-selling opportunities for other financial products.

This milestone comes as Nigeria’s central bank continues to promote financial inclusion and digital payment adoption through various policy interventions, including the recent regulatory framework for digital lending platforms that aims to protect consumers while fostering innovation in the credit market. FirstBank’s achievement demonstrates the potential for regulated financial institutions to leverage technology to extend credit to previously excluded segments of the population, contributing to the broader goal of deepening financial access across the country.

The N1 billion daily disbursement record is expected to intensify competition among Nigeria’s commercial banks, many of which are now accelerating their digital lending capabilities to capture a share of the lucrative salary-based credit market. As more financial institutions embrace automated lending solutions, consumers stand to benefit from improved service delivery, competitive interest rates, and greater choice in meeting their short-term financing requirements.

TikTok Partners With ICC To Drive SME Growth Across Nigeria’s Booming Internet Economy

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The International Chamber of Commerce (ICC) and TikTok have announced a strategic collaboration aimed at transforming Nigeria’s rapid internet adoption into tangible business opportunities for small and medium-sized enterprises across the country. The partnership, unveiled today, seeks to leverage the short-form video platform’s massive user base and the ICC’s global trade expertise to equip Nigerian entrepreneurs with the digital skills necessary to access new markets and scale their operations in an increasingly connected economy.

Under the new initiative, Nigerian SMEs will gain access to specialised training programmes focused on content creation, digital marketing, and e-commerce integration, enabling them to harness the platform’s algorithm to reach millions of potential customers both locally and internationally. The collaboration comes as Nigeria’s internet penetration continues its upward trajectory, with the country now ranking among the fastest-growing digital markets on the African continent, presenting a unique window for businesses to pivot towards online sales channels and cross-border trade opportunities.

The partnership will also explore the development of a dedicated SME hub within the TikTok ecosystem, offering verified business accounts, advertising credits, and analytics tools tailored to the Nigerian market. Brandspur Brand News understands that the ICC will contribute its extensive network of trade finance experts and regulatory advisors to help navigate the complexities of international commerce, including customs procedures, payment gateways, and intellectual property protections for digital content creators and online retailers.

This development aligns with the Nigerian government’s broader digital economy agenda, which has prioritised technology-driven entrepreneurship as a key pillar for job creation and economic diversification beyond the oil sector. Industry observers note that the timing of the initiative is critical, as Nigerian businesses continue to recover from recent currency volatility, with the naira currently trading at 0.0005512 against the British pound and 0.000637 against the euro, making export-oriented digital services particularly attractive for SMEs seeking to earn foreign exchange.

TikTok’s expansion into business development services marks a significant shift from its traditional entertainment-focused model, reflecting a growing recognition of the platform’s potential as a commercial engine for emerging economies. The company has already seen remarkable success with similar programmes in other African markets, where small businesses have reported substantial revenue growth after adopting the platform’s promotional tools and influencer marketing strategies to showcase their products to wider audiences.

For Nigerian entrepreneurs, the initiative promises to address persistent challenges such as limited access to affordable marketing channels, inadequate digital literacy among business owners, and the difficulty of building brand trust in an increasingly crowded online marketplace. The training modules will cover practical topics including video production techniques, storytelling for brand engagement, customer acquisition funnels, and data-driven content optimisation, with sessions delivered through a combination of virtual workshops and in-person masterclasses across major commercial hubs including Lagos, Abuja, and Port Harcourt.

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The ICC has emphasised that the programme will prioritise women-owned businesses and enterprises operating in underserved regions, aiming to bridge the digital divide that has historically limited opportunities for entrepreneurs outside urban centres. This focus on inclusivity is expected to generate significant interest among micro-businesses and informal sector operators who have traditionally relied on offline networks and word-of-mouth referrals to sustain their operations.

As Nigeria’s digital economy continues to expand at an unprecedented pace, with projections suggesting the sector could contribute over 20% to the nation’s GDP by 2030, partnerships such as this one are increasingly viewed as essential for ensuring that the benefits of technological advancement are widely distributed. The TikTok-ICC collaboration is scheduled to roll out its first phase of activities in the coming weeks, with registration details expected to be announced through both organisations’ official channels and local business associations.

The announcement has already generated considerable buzz within Nigeria’s tech startup ecosystem, with many viewing the initiative as a potential catalyst for a new wave of digital-native businesses that can compete on the global stage. For the millions of Nigerian SMEs currently navigating the complexities of the post-pandemic economy, the prospect of accessing world-class digital marketing tools and international trade expertise through a single, integrated platform represents a significant step forward in their growth journey.

When Leaders THRIVE: Yetunde B. Oni’s Candid Counsel To The Lateef Jakande Leadership Academy

Union Bank’s Managing Director and Chief Executive Officer sat with 30 of Nigeria’s most promising young leaders for a frank conversation on character, relationships and the discipline of growth.

Out of 25,000 applicants, only 30 earned a place. That single figure tells you how rare the room was when Yetunde B. Oni, Managing Director and Chief Executive Officer of Union Bank of Nigeria, recently sat down with a cohort of the Lateef Jakande Leadership Academy.

The Academy, a Lagos State Government initiative established in honour of Alhaji Lateef Kayode Jakande, the state’s first civilian governor, exists to raise a generation of ethical and capable young leaders. Its fellows are drawn from across professions, sectors and ethnicities, and shaped through a fellowship facilitated by the Africa Leadership Initiative, West Africa (ALI WA), whose work on values and principled leadership has become a quiet engine behind some of the country’s most thoughtful emerging talent.

It was into this gathering that Mrs Oni brought not a corporate address, but a conversation. Honest, personal and at times disarming, she spoke about the philosophies that have carried her through a career spanning more than three decades, the setbacks she has had to surmount, and the values that opened doors she never expected to walk through.

She gave them a framework to hold on to. She called it THRIVE.
The six principles
T — Take ownership of your relationships. Leadership, she argued, begins with the deliberate stewardship of the people around you. Relationships are not incidental to a career. They are infrastructure.
H — Honour God. She spoke openly about faith as a steadying force, an anchor that keeps ambition tethered to something larger than the self.
R — Recharge and refresh. Mental and physical health, she insisted, are not luxuries to be deferred until the work is done. Leaders who neglect their own wellbeing eventually have less to give.
I — Invest in your growth. Continuous and heavy investment in personal development is, in her telling, the price of staying relevant. The learning never ends.
V — Value your work. She pressed the fellows on identity and brand. What do you stand for? Do you create value? Who, in truth, are you? The questions were not rhetorical.
E — Embrace setbacks. Failure, she said, is not the opposite of progress but a part of it. The leaders who endure are the ones who learn to metabolise disappointment rather than be defeated by it.

The people behind the leader
If one theme threaded the entire conversation, it was relationships. Mrs Oni was candid that she did not arrive at the top of Nigerian banking alone. She credited the steady support of family, her parents and her husband, alongside the mentors, friends, coaches and sponsors who shaped her at different stages.

She drew a sharp and useful distinction between a mentor and a coach, two roles often conflated and rarely understood, and she traced much of her progress back to a foundation of Nigerian cultural values: hard work, honesty and integrity, courtesy and respect. These, she told the fellows, are not relics. They are the very qualities that have earned her trust and opened doors throughout her journey.

“You need people,” was the message, delivered without sentiment. Relationships, she explained, must be managed and nurtured with the same seriousness one brings to any other discipline. Time must be managed with equal care.

On believing, and risking
Perhaps the most resonant moment came when Mrs Oni spoke about self-belief. She admitted that becoming the MD/CEO of Standard Chartered Bank, Sierra Leone, did not cross her mind – not because she was unqualified, but because she didn’t think she would get it. Encouraged by her husband, she applied anyway, and she got it!

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That appointment would later see her make history as the first woman to lead a Standard Chartered Bank operation in her market.

The Union Bank of Nigeria appointment told a similar story. She had not even known the position existed after the CBN’s intervention. It came to her through relationships; through the quiet networks of people who knew her work and recommended her name while she was unaware in faraway Sierra Leone.

The lesson she left with the fellows was unambiguous. Believe in yourself. Take the risk. Put in for the thing you are not yet certain you deserve, because the opportunity you are waiting for may be one you cannot see, reaching you through someone you have not yet met.

Why this matters
Engagements of this kind are easy to underestimate. They produce no headlines about balance sheets and no immediate line on a financial statement. Yet they speak to something Union Bank has long understood: that institutions endure when they invest in people, and that leadership is built one honest conversation at a time.

Credit is due to the Africa Leadership Initiative, West Africa, whose facilitation of the Lateef Jakande Leadership Academy continues to shape young Nigerians of real promise, and to the Academy itself for the rigour of a process that turned 25,000 hopefuls into 30 fellows ready to lead.

For Yetunde B. Oni, the afternoon was less about what she has achieved than about what she was willing to give: her time, her story and her counsel, offered freely to those coming after her. It is, in the end, what the best leaders do. They light the path for the next generation, and they THRIVE.

Fidelity Bank Partners Anambra State To Empower 1,950 Nigerians

Leading financial institution, Fidelity Bank Plc, has reaffirmed its commitment to sustainable social impact and economic inclusion through the empowerment of women and schoolchildren in Anambra State.

The landmark intervention, held recently in Awka during the 2026 Fidelity Empowerment Programme, featured the distribution of 200 sewing and grinding machines to women entrepreneurs, N25 million in seed capital support, 1,500 food packs to vulnerable households, and 250 solar-powered school bags to schoolchildren. The initiative was implemented in partnership with Healthy Living with Nonye Soludo, a Non-Governmental Organisation led by the Wife of the Governor of Anambra State, Dr. Mrs. Nonye Soludo.

Speaking at the event, the Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, described the programme as a reflection of the Bank’s enduring commitment to empowering individuals, strengthening communities, and creating opportunities for sustainable growth.

According to the bank’s CEO, the initiative marked the first time that three of Fidelity Bank’s flagship social impact initiatives—the Fidelity Food Bank Initiative, Lighting Young Minds Programme, and Give Her Power Initiative—were brought together under a single intervention platform; and Anambra State is the first beneficiary.

“Today is more than an empowerment event; it is a demonstration of our belief that meaningful progress begins when people are given the tools and opportunities to succeed. At Fidelity Bank, our purpose goes beyond banking. We are committed to helping individuals realize their aspirations, overcome challenges, and build better lives. When communities thrive, businesses thrive; when families prosper, societies become stronger; and when people are empowered, possibilities become endless,” she stated.

Dr. Onyeali-Ikpe further noted that the Fidelity Food Bank Initiative continues to provide critical support to vulnerable households across Nigeria, particularly during a period of economic challenges affecting many families.

“Access to food remains a basic human need. By supporting vulnerable families, we are restoring dignity, strengthening resilience, and fostering greater social inclusion within our communities,” she added.

Speaking on the Lighting Young Minds Programme, Dr. Onyeali-Ikpe explained that the solar-powered school bags distributed to pupils are designed to enhance learning outcomes by providing a reliable source of light for studying after dark, especially in communities with limited access to electricity.

The programme also featured the Give Her Power Initiative, through which women received vocational tools and financial support aimed at promoting entrepreneurship, enhancing household income, and advancing women’s economic participation.

In her remarks, the Wife of the Governor of Anambra State, Dr (Mrs.) Nonye Soludo, commended Fidelity Bank for its unwavering commitment to uplifting vulnerable groups and investing in community development.

“We gather today, not merely to distribute items or celebrate another social impact initiative, but to reaffirm a simple truth: when we invest in people, we invest in the future. Every woman supported, every child empowered, and every family assisted represents a step towards building a stronger, healthier, and more prosperous Anambra State,” she said.

Mrs. Soludo expressed appreciation to Fidelity Bank for aligning with the vision of empowering communities and improving lives through impactful interventions.

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“Beyond the empowerment items being distributed today, Fidelity Bank is investing in human potential, family stability, and community development. This partnership demonstrates the important role socially responsible organisations can play in advancing sustainable development and improving the quality of life of the people they serve,” she added.

The Fidelity Empowerment Programme forms part of Fidelity Bank’s broader commitment to driving positive social impact across Nigeria through targeted interventions in education, economic empowerment, food security, health, and community development.

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.

YABATECH Secures Nearly N80 Million TETFund Grants For Renewable Energy And Waste Innovation Projects

Yaba College of Technology (YABATECH) has secured close to N80 million in research funding under the 2026 Tertiary Education Trust Fund (TETFund) National Research Fund intervention, strengthening the institution’s position as a leading hub for applied research and technological innovation in Nigeria.

The funding will support two multidisciplinary projects focused on renewable energy, environmental sustainability, waste management and food preservation, areas considered critical to Nigeria’s economic development and climate goals.

One of the projects, valued at about N41 million, is aimed at combining Internet of Things (IoT) technologies with biogas-powered systems to improve waste management and enhance cold-chain storage for perishable agricultural products. The initiative is expected to help curb post-harvest losses, improve energy efficiency and support food security.

Brandspur Brand News reports that the second project secured N38.78 million to develop technology capable of converting plastic waste into gaseous fuel through gasification processes. Researchers believe the innovation could provide practical solutions to environmental pollution while creating alternative energy sources for households and industries.

The twin grants form part of the Federal Government’s N7.5 billion TETFund intervention approved for 174 research projects across universities, polytechnics and colleges of education nationwide. Other beneficiaries include Federal Polytechnic Ilaro, Federal Polytechnic Bida and Federal Polytechnic Nekede, among others.

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The research teams comprise experts drawn from several academic disciplines, reflecting the growing emphasis on collaborative innovation and knowledge-driven solutions to national challenges. The projects are expected to contribute to sustainable development, cleaner energy adoption and industrial advancement.

YABATECH management described the grants as a strong endorsement of the institution’s commitment to research excellence and its efforts to develop practical solutions capable of addressing challenges in renewable energy, environmental management and food security.

The institution noted that the outcomes of the projects are expected to stimulate innovation, create employment opportunities and enhance Nigeria’s knowledge economy. It also commended TETFund’s continued investment in research, saying the intervention would strengthen productivity and support long-term economic growth.

With nearly N80 million in fresh research support, YABATECH is positioning itself at the forefront of efforts to drive technological development and sustainable solutions within Nigeria’s tertiary education sector.