SEC Emphasizes Technology As Key To Building Investor Trust

The Director General (DG) of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, has reaffirmed the Commission’s commitment to leveraging technology to strengthen investor confidence and transform Nigeria’s capital market into a globally competitive environment.

Speaking at the 2025 Customer Service Week celebration in Abuja with the theme “Building the Market of the Future, One Interaction at a Time,” Dr. Agama said the SEC is embracing digital innovation as a core part of its service strategy to enhance transparency, efficiency, and accessibility across all market operations.

He noted that recent advancements, such as the digitization of SEC processes, deployment of new online service portals, and enhanced engagement with market stakeholders through digital platforms, were designed to simplify regulatory interactions and make the market more user-friendly.

According to him, “The digitization of our processes, the launch of new portals, and our enhanced engagement on social media are all steps in the right direction. They are designed to make our market more accessible, transparent, and user-friendly”.

While acknowledging the transformative power of technology, the SEC boss stressed that human engagement remains central to building trust.

He explained that “technology is only an enabler,” adding: “The heart of excellent service is the human connection—the ability to listen, understand, and provide solutions that make every stakeholder feel valued.”

Dr. Agama pledged that the Commission would continue to invest in digital infrastructure, continuous staff training, and tools that empower frontline officers to deliver superior service to investors.

He described customer-facing staff as the “true heroes” of the capital market, whose work directly shapes investor perception and confidence in the system.

He stressed that the SEC’s vision is to build a deep, vibrant, and technology-driven capital market powered by efficient service delivery and sustained trust.

“Let every day be Customer Service Day at the Nigerian SEC and across our capital market. Let us continue to build this market of the future, not with grand pronouncements alone, but with one successful interaction, one resolved complaint, and one satisfied stakeholder at a time”, he stated.

Greenwich Merchant Bank achieves N50bn capitalisation

Greenwich Merchant Bank LimitedGreenwich Merchant Bank on Thursday announced that it has successfully met the N50bn capital requirement mandated by the Central Bank of Nigeria.

According to the bank, in a letter dated September 22, 2025, the CBN confirmed its approval of Greenwich’s N22.6bn fresh capital raised via a Rights Issue and Private Placement. With this, the bank’s approved capital now exceeds the N50bn regulatory threshold.

The CBN’s recapitalisation directive stipulates N50bn as the minimum capital requirement for a merchant bank operating in Nigeria. Having achieved this milestone, Greenwich said it is now better positioned to underwrite larger transactions, offer more competitive financing, and enhance overall service delivery.

Speaking on the achievement, Chairman of Greenwich Group, Mr Kayode Falowo, said, “This is a significant milestone in our growth journey and a strong testament to the resilience and commitment of everyone across the organisation. It positions us strategically for the next phase of our expansion and service excellence.

“We would like to thank our shareholders for their trust in us and applaud the outstanding contributions of our Board and Management in attaining this milestone. We remain committed to driving even greater achievements in the future.”

Also commenting, Managing Director/Chief Executive Officer of Greenwich Merchant Bank, Mr Benson Ogundeji, noted, “Our successful capital raise is not just a regulatory compliance milestone; it is proof of the confidence our shareholders have in our vision and the trust our clients and partners have built with us over the years.

“At Greenwich, we see this achievement as a springboard for strengthening our capacity to deliver innovative financial solutions while contributing meaningfully to Nigeria’s economic growth and stability.”

NLC urges tax on tech giants to retrain workers

Joe AjaeroThe Nigeria Labour Congress President, Comrade Joe Ajaero, on Friday called for a tax on the profits of technology giants and automated industries to fund comprehensive retraining and upskilling programmes for workers facing displacement in the era of artificial intelligence.

Speaking at the 2025 Conference of the Labour Writers Association of Nigeria in Ibadan, Ajaero warned that while AI is often presented as a marker of efficiency and progress, it is being deployed by corporations to deepen worker exploitation, erode rights, and increase inequality.

The conference, held at the Golden Tulip in Ibadan, focused on ‘The Future of Work in the Era of Artificial Intelligence’.

“We must bargain for comprehensive retraining and upskilling programmes, funded by a tax on the excessive profits of the tech giants and automated industries,” Ajaero remarked

He added, “Our struggle is to socialise the benefits of AI and robotise the burdens, ensuring it leads to a society with more leisure, greater security, and shared prosperity for the working class.”

The NLC president described the rise of AI as “the modern face of the class struggle”, noting that workers risk being pushed into greater precarity as companies prioritise profit.

“They sell us a narrative of efficiency and progress, but we must see it for what it truly is: a tool for maximising profit by de-skilling jobs, casualising labour, and ultimately, weakening the collective power of the working people,” the labour leader stated.

He cautioned that without safeguards, AI would reshape labour relations in ways that weaken collective bargaining, undermine unionisation and create a digitally dispossessed underclass.”

Ajaero urged unions and policymakers to press for protective legislation.

“We must fight for robust legal frameworks that guarantee the ‘Right to Disconnect’, strictly limit algorithmic surveillance, and ensure that productivity gains from AI are shared through shorter workweeks with no loss of pay,” he said.

Turning to labour writers, Ajaero reminded them of their duty to highlight the challenges facing workers, insisting that journalists were integral to the trade union movement.

“Your typewriters, recorders, and keyboards are no less important than our placards and negotiation tables. They are the instruments with which we shape the narrative, counter the propaganda of the bourgeoisie, and awaken the consciousness of the masses,” he told delegates.

Citing recent disputes at the Dangote Refinery and Petrochemical complex, he accused the company of violating Nigeria’s Labour Act, the Constitution, and international conventions by attempting to stop workers from joining unions.

“The recent violations of the rights of workers to join unions and the reckless attempts at de-unionisation of workers, all in the Dangote Refinery and Petrochemical, bear testimony to the unrelenting and pervasive power of corrosive capitalism,” Ajaero said.

He criticised the use of the media to spread disinformation, claiming attempts were made to blame workers instead of addressing breaches of the law.

Ajaero stressed that unity remained the most powerful weapon against corporate and technological exploitation.

“There is no room for neutrality in the face of this attempt to subjugate us to the forces of oppression. To stand on the sidelines is to side with the oppressor,” he said. “They have their AI, but we have our WE. Our collective power, our solidarity, is the ultimate intelligence no machine can replicate or break.”

Mission Possible – Unity Bank MD Celebrates Resilient Frontline Staff, Reaffirms Commitment To Customer Service Excellence

The Managing Director/Chief Executive Officer of Unity Bank Plc, Mr. Ebenezer Kolawole, has said that a service culture built on responsiveness and innovation will differentiate the impact that customer service can make in any organisation.

Making the remarks at the flag off of the Customer Service Week 2025 in Unity Bank, Mr. Kolawole stated that “apart from constantly improving the way in which better customer support can be achieved, the increasing sophistication of our customers have made the Bank to also begin to focus more on customer experience innovation with investment being made in technology, systems, and people which enable us redefine our customer journey altogether”.

While extolling the Bank for always rising to any occasion, the Managing Director celebrated the resilient frontline staff for their unwavering dedication and reaffirmed the institution’s commitment to delivering exceptional customer service across all touch points, stating that this year’s celebration, themed “Mission: Possible,” underscores the Bank’s unwavering belief that every customer needs can be met through innovation, teamwork, and with service culture.

“The Bank’s customer service teams are well acclaimed for their passion, professionalism, and resilience in fulfilling the institution’s mission to provide exceptional service to its growing customer base”, the Unity Bank MD further stated.

In further acknowledgement, Mr. Kolawole stated: “At Unity Bank, our mission is clear — to make banking simple, accessible, and rewarding for every customer. ‘Mission Possible’ captures the spirit with which we approach every challenge and opportunity to serve; whether through our digital platforms, branch interactions, or customer support channels”.

Additionally, the Bank’s Chief Customer Service Officer, Elfrida Igebu, emphasised the significance of recognising and celebrating staff who consistently go above and beyond to serve customers.

“This year’s theme reminds us that what may seem challenging is always achievable with the right attitude, teamwork, and customer-first mindset. Our frontline teams embody this every day by demonstrating that at Unity Bank, service excellence is not just a goal, it is our mission,” Igebu said.

Throughout the week, Unity Bank organised activities across its branches and offices nationwide to reflect the Customer Service Week 2025, from customer appreciation engagements, Award of recognition for Staff, setting up festive ambience and decor, flamboyant service and cultural costumes donned by members to digital media activations.

In time past, Unity Bank was among the first financial institutions to introduce a multilingual USSD platform, *7799#, and from then onwards, the Bank continues to upgrade features of its mobile banking platform, Unifi app, for optimisation, reinforcing customer experience innovation and convenience.

Dangote Refinery Clarifies Feedstock Imports, Reaffirms High-Quality Petrol Production

Dangote Petroleum Refinery has dismissed recent media reports alleging that it is importing finished petrol with high sulphur content into Nigeria, describing the claims as false and misleading.

 

In a statement issued on Friday, the company explained that, as a world-scale complex refinery, it processes a wide range of crude oils and intermediate feedstocks, which is a standard global practice aimed at optimising production and product quality.

 

“The cargo in question is an intermediate feedstock, not finished petrol,” the company said. “It will be fully refined in our processing units to meet both Nigerian and international quality standards.”

 

Operating within a Free Trade Zone, Dangote Petroleum Refinery said it refines and sells only high-quality fuels that comply with all regulatory specifications. The company added that its exports of petroleum products to the United States and Europe, among the world’s most regulated markets, underscore its adherence to international benchmarks for quality and safety.

 

Dangote Refinery further noted that all imported feedstocks are accompanied by quality certificates, which are transparently shared with regulators. “We are also willing to make these documents available to the public in the interest of full transparency and accountability,” the statement added.

 

The company reaffirmed its commitment to advancing Nigeria’s energy independence, maintaining global best practices, and delivering cleaner, high-quality fuels for both domestic and international markets.

Airtel rolls out tech scholarship for 100 undergraduates

Airtel logoAirtel Africa Foundation, through Airtel Nigeria, has launched its Undergraduate Tech Scholarship Programme to support 100 Nigerian undergraduates pursuing studies in information and communication technology-related fields.

The disclosure was made in a statement on Thursday following remarks by the Chairman of Airtel Africa, Dr Segun Ogunsanya, at a world press conference held recently in Lagos.

The initiative will cover tuition, accommodation, study materials, and a stipend from the first year to the final year of study. The programme is designed to eliminate financial barriers and enable students to focus on academic and technical achievement.

According to the Foundation, eligible courses include Computer Science, Information Technology, Data Science, Software Engineering, Cybersecurity, Artificial Intelligence, and other ICT disciplines. Beneficiaries are drawn from 100-level students enrolled in approved programmes in public universities, including the University of Lagos, the University of Nigeria, Nsukka, Ahmadu Bello University, the University of Benin, Obafemi Awolowo University, the University of Ilorin, and Tai Solarin University of Education.

Dr Ogunsanya said the scholarships reflect the Foundation’s long-standing commitment to supporting young Africans.

“At Airtel Africa Foundation, our vision has always been to create opportunities where talent meets ambition. With this scholarship, we are investing in Nigeria’s future tech leaders, giving them the resources and confidence to thrive in an increasingly digital world,” he stated.

Also speaking, the Chief Executive Officer of Airtel Nigeria, Mr Dinesh Balsingh, said the initiative reinforces the company’s commitment to education as a key pillar of its social investments.

“The prioritisation of education as a pillar of our social investments becomes much stronger with these 100 new scholarships.

They build on such other initiatives as our partnership with UNICEF on the Reimagine Education Programme, our Adopt-A-School project, and our N1 billion investment in the Three Million Technical Talent effort of the Federal Government. Ultimately, for us as an organisation, the best way to equip the future is to arm it with cutting-edge education,” he said.

The undergraduate scholarship is aligned with the Foundation’s four strategic pillars of financial inclusion, education, environmental protection, and digital inclusion.

N20bn Sukuk: TAJBank records 185.5% oversubscription

TAJBank LimitedNon-interest bank, TAJBank Limited, has recorded a 185.15 per cent oversubscription in its latest N20bn Mudarabah Sukuk bond offer.

In a statement on Thursday, the bank said the figure was based on data released by investment market authorities on the bond’s performance.

The data showed that the debt instrument, with an annual profit rate of 20.5 per cent, recorded an allotment of N57.03bn, representing 185.15 per cent oversubscription, a reflection of growing investor confidence in the bank.

Commenting on the performance of the offer, TAJBank’s Founder and Managing Director, Mr. Hamid Joda, described the N20bn Mudarabah Sukuk bond, which represents the second tranche of the bank’s N100bn Sukuk programme, as impressive given prevailing micro and macroeconomic conditions affecting the real incomes of Nigerians.

“Let me say that this outstanding performance of the Sukuk bond is a clear demonstration that the bank is enjoying growing investor confidence. This can only be attributed to the quality of innovative products and services, as well as the value addition TAJBank continues to deliver in the non-interest banking subsector, especially when analysed within the context of current realities in the debt instrument market,” Joda said.

He added, “I want to thank the board, management and staff of the bank, the regulatory authorities, and the investors for their contributions to the success of the bond issuance. I also assure them that TAJBank will continue to protect their interests to ensure a win-win experience for all stakeholders as we sustain our drive to remain the leading player in the nation’s non-interest banking subsector.”

Also speaking, the bank’s Co-Founder and Executive Director, Mr. Sherif Idi, said, “This investment feat clearly demonstrates investors’ trust in TAJBank, and we will continue to do our best to exceed their expectations through world-class products and services. As always, our focus remains on our customers and investors.”

Analysts in the investment market believe that, following the outstanding success of TAJBank’s latest N20bn Mudarabah Sukuk bond, more investors, businesses, and customers will be encouraged to engage with the bank to explore opportunities in its innovative products and attractive returns.

Since debuting in Nigeria’s non-interest banking space about five years ago, TAJBank has gained recognition for its adherence to global best practices in Islamic finance. The bank has received several awards, including the Global Islamic Finance Award 2023 for ‘Best Sukuk Deal of the Year’. It also won BusinessDay’s ‘Islamic Bank of the Year’ award in 2021, 2022, and 2023, and earlier clinched Leadership Newspaper’s ‘Bank of the Year’ award in 2020, among other accolades.

Fidelity Bank set to disburse NCGC N5bn credit guarantee facility to boost MSME financing

FIDELITY BANK SET TO DISBURSE NCGC N5BN CREDIT GUARANTEE FACILITY TO BOOST  MSME FINANCING
Tier one Lender, Fidelity Bank Plc, has announced its readiness to begin the disbursement of funds under the National Credit Guarantee Company (NCGC) N5 billion Credit Intervention Scheme. The initiative is designed to expand access to finance for Micro, Small and Medium Enterprises (MSMEs), as well as businesses owned by women and youths across Nigeria.
This was disclosed by the Managing Director/Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, during the signing of a Memorandum of Understanding (MoU) between the bank and NCGC.
According to Dr. Onyeali-Ikpe, the partnership with NCGC represents a significant step in the bank’s ongoing efforts to enhance financial inclusion and stimulate economic growth through increased access to credit. “This guarantee will enable us to further expand financing opportunities for those who need it most, while strengthening our capacity to support businesses across key sectors of the Nigerian economy,” she said.
The facility will cover critical sectors including food processing, secondary agriculture (such as fish and poultry processing), fashion, green energy, light manufacturing, the agricultural value chain (feed mills and equipment fabrication), export-oriented businesses, and education.
Dr. Onyeali-Ikpe highlighted that Fidelity Bank has consistently supported diverse sectors through targeted initiatives such as the Green Energy Financing Programme for renewable energy entrepreneurs, the Fidelity SME Hub for small businesses with a special arm – Creativerse, dedicated to the creative industry and the Fidelity Bank Education Support Scheme which provides affordable financing for educational infrastructure and technology upgrades.
“With the backing of the NCGC credit guarantee, we can now extend financing to businesses that have traditionally been excluded from formal credit systems—without compromising our risk standards or operational efficiency,” she added. “While we have supported MSMEs with short-term facilities in the past, this partnership allows us to provide long-term credit facilities that empower businesses to expand sustainably.”
Over the past five years, Fidelity Bank has disbursed over N500 billion in loans to MSMEs, empowering thousands of entrepreneurs and creating sustainable livelihoods.
Also speaking at the event, Managing Director of NCGC, Mr. Bonaventure Okhaimo, emphasized that the organization was established to bridge the financing gap faced by MSMEs in Nigeria by mitigating lender risks through credit guarantees.
“Although MSMEs are key contributors to Nigeria’s economic development, many of them struggle to secure funding from financial institutions due to perceived high risks,” he said. “Through the credit guarantee scheme, NCGC shares this risk with banks, making it easier for MSMEs to access much-needed capital.”
Mr. Okhaimo added that NCGC and Fidelity Bank will also collaborate to provide financial literacy and business management training to MSME beneficiaries, ensuring they have the knowledge and skills to effectively manage their loans and achieve sustainable growth.
The Fidelity Bank–NCGC partnership reinforces both institutions shared commitment to fostering entrepreneurship, strengthening MSMEs, and driving inclusive economic development across Nigeria.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 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 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Union Bank strengthens Media ties at informal mixer event

Union Bank Strengthens Media Ties at Informal Mixer Event
Union Bank of Nigeria recently hosted an informal and engaging meet-and-greet session with leading media professionals at The Stallion Plaza, its headquarters in Marina, Lagos.
The event, held at SpaceNXT, the Bank’s purpose-designed co-creation hub for innovators and creators, was conceived as a relaxed platform to foster personal connections and deepen mutual understanding between the Bank and media partners.
Rather than a formal media briefing, the gathering offered a convivial atmosphere for open conversation, reinforcing Union Bank’s recognition of the media’s essential role in shaping public discourse and amplifying the Bank’s mission.
In attendance were senior members of Union Bank’s leadership team, including Taiwo Shote, Executive Director, Corporate Banking, Lagos and West, Olufunmilola Aluko, Chief Brand and Marketing Officer, and Tosin Ibikunle, Head of Strategy and Planning. Olufunmilola and Tosin reaffirmed the Bank’s commitment to transparent and collaborative engagement with the press, while underscoring Union Bank’s strong operational footing and readiness to meet all regulatory obligations.
Speaking at the event, Mrs Olufunmilola Aluko, Chief Brand and Marketing Officer, said:
“This event is simply about people. Union Bank has been around for 108 years, and we’ve seen it all – from telegram banking to digital wallets; from handwritten ledgers to AI-driven analytics. But through all that change, one constant has remained: the media.
We wanted to create a space that is unhurried and human, where we can meet without the weight of deadlines or the formality of press statements, because behind those exchanges are real people who share a deep commitment to storytelling, to truth, and to impact. So today, we wanted this session to simply be about reconnecting; banker to journalist, human to human.”
Echoing this spirit of partnership as the Bank looks ahead, Mr Tosin Ibikunle, Head of Strategy and Planning, added:
“Union Bank has diligently enhanced its systems and service experience in preparation for the next phase of growth. As we roll out new initiatives, we look forward to partnering with the media to tell our story with clarity, accuracy, and impact.”
The event also featured a tour of Stallion Plaza and a networking session, reflecting the Bank’s intention to create a warm, human connection beyond the usual formalities of corporate communication.
Union Bank remains steadfast in its commitment to building trust through open dialogue and meaningful partnerships with the media and all stakeholders, as it continues to serve customers and contribute positively to Nigeria’s economic landscape.
Moniepoint set to launch second edition of Nigeria’s informal economy report in Abuja  

A new study by Moniepoint Microfinance Bank, a proudly Nigerian-founded and led financial institution, has revealed that 42 per cent of Nigeria’s informal sector operators do not have enough savings to survive beyond one month without income, underscoring the fragile financial position of millions of small businesses across the country. The yet to be released report has received generous support from the Ministry of Industry, Trade, and Investment, and Small and Medium Enterprise Development Agency of Nigeria, SMEDAN.
The findings form part of the second edition of Nigeria’s Informal Economy Report, which Moniepoint is set to officially launch on Friday, October 17, 2025, at the Abuja Continental Hotel.
Nigeria’s informal economy is the backbone of the nation’s livelihood, accounting for over 80% of employment and driving the majority of economic activity. For millions of Nigerians locked out of formal employment structures, this sector is essential in serving as a bulwark against poverty.
According to Moniepoint, the Informal Economy Report is designed to provide evidence-based insights that can guide policymakers, regulators, and financial institutions in shaping interventions that strengthen and formalise informal enterprises.
“The Informal Economy Report is a robust and important study that examines the informal market more closely and curates fresh insights into its realities. We believe its key outputs will serve ecosystem players and government well in policy direction and execution,” said Babatunde Olofin, Managing Director of Moniepoint Microfinance Bank, in a statement ahead of the launch.
The event is expected to attract senior government officials, regulators, lawmakers, industry leaders, trade associations, academics, civil society, and development organisations. It will feature keynote addresses, panel discussions, and presentations of the study’s findings, with participants exploring strategies to create a more inclusive and sustainable economic landscape.
The Informal Economy Report 2025 follows the success of the inaugural edition, which received commendation from the Federal Ministry of Industry, Trade and Investment, the Corporate Affairs Commission, SMEDAN, and leading business associations for providing credible data and actionable recommendations.