Business

VFD Donates Administrative block, Education materials to Anambra schools

Published

6 years ago

November 20, 2019

VFD Group has recognized education as one of the building blocks of any nation as it renovated administrative block and provided some educational materials for Uga Boys Secondary School, and Dennis Memorial Grammar School, Anambra state, respectively.

The financial institution, which donated the educational aids to mark its 10^th anniversary on November 13^th and 14^th, used the initiative to emphasised that education is a priority area in its CSR activities. Its aim is to nurture young minds and educate them, so that they contribute to the nation’s development.

Realising the importance and relevance of education, VFD renovated an administrative block with tables, chairs and donated other educational materials to Uga Boys to benefit the community by boosting literacy levels in the state.

Group Managing Director, VFD Group Plc, Nonso Okpala, explained that when he visited the school and found that the facilities are not suitable and conducive for learning, he decided to convince the management of the institution that the project, if approved, could enable the students to compete favourably with their counterparts in the state.

He said, “We pen down the project idea and I went to convince my colleagues on how important it is for us to contribute to the uplift of the school. The difference between an advanced society and an unadvanced is education.

“If Uga is to do well, we must make education a cardinal point of our programme. I understand that there are huge challenges the student face in their daily lives, it should not hold them back in progressing. If Prof Charles Soludo graduated from this school and succeed, I believe nothing can hold anyone back from attaining great heights in life.

“I know that the school may still lack certain things but I also urge the students not to be held back by the challenges they face, believe in yourself and study like there is no other way to success. VFD contributes to a number of initiatives, funding and building schools. All these initiatives have been undertaken to benefit communities by helping increase the literacy levels.”

Principal, Uga Boys Secondary School, lauded the efforts of VFD to transform the school that has produced several successful Nigerians.

The elated principal said, “VFD is a great company. It has done a great thing for us, deeming it fit to give back to a school that had fed great Nigerians. The company has fulfilled the dreams of JF Kennedy when he encouraged us to ask what we can do for our country and not what the country can do for us.

“The era when our student tried to avoid dripping water falling from the roof of the hall while writing examinations has gone with this development. We assure VFD that the infrastructure development will help towards improving teaching and learning in the school.”

He added that the school still need the intervention of all stakeholders on perimeter fencing to check influx of trespassers including human and animal; renovation of its science laboratory, security personal, ICT complex, renovation of the principal house and provision of library shelves and current books among others.

While presenting some educational materials to the school authority of Dennis Memorial Grammar School, Managing Director, VFD Microfinance Bank, Azubike Emodi, said, “I am excited to make a little donations to the school like Education materials and we hope that it makes a lot of impact in the lives of the students. We will be back and do a lot more.”

While at DMGS, Nonso Okpala in his personal capacity made a promise to sponsor the University education of the best student in the upcoming Senior WAEC Examination, leaving the principal, teachers and administrative staff members delighted.

Commissioner for Basic Education, Anambra state, Prof. Kate Omenugha, also urged other institutions to emulate VFD to lift the faces of schools in the state and across Nigeria.

She said, “When I was coming here, I didn’t know what to expect. I salute VFD as the new examination hall dazed me, with amazing flat tables. It is beyond our expectations. The borehole and toilet facilities are amazing.

“With this development, the students would be able to know what it takes to learn in a serene environment and we must thank the VFD family for the lovely gesture.”

Bank

Union Bank Honoured by ASBON at Nigeria National SME Business Awards

Published

5 hours ago

May 13, 2026

Sahara Weekly

Union Bank Honoured by ASBON at Nigeria National SME Business Awards

Lagos, Nigeria – Union Bank of Nigeria has reaffirmed its reputation as a strong supporter of Nigerian businesses, receiving the Best SME Growth Banking Initiatives Award for 2025 from the Association of Small Business Owners of Nigeria (ASBON) at the Nigeria National SME Business Awards, held recently in Lagos.

The award was presented to the Bank in recognition of its strategic leadership in advancing the growth and resilience of small and medium-sized enterprises, through a differentiated suite of solutions designed to enable business expansion and long-term value creation.

Receiving the award on behalf of the Bank, Ayokunnumi Abraham, Head of SME Segment at Union Bank, described the recognition as a strong endorsement of the Bank’s commitment to supporting small and medium-sized businesses. He said:

“We are honoured to receive this recognition, which reflects Union Bank’s continued commitment to helping SMEs grow by making banking simpler, faster, and more accessible. Through enhancements to our specialised platforms such as Union360, we have meaningfully reduced the time it takes for businesses to come on board and begin transacting. These improvements have shortened onboarding, increased digital adoption among our SME customers, and supported the acquisition of new business clients. Our focus remains on delivering practical solutions that help Nigerian businesses thrive.”

Organised by ASBON in partnership with the Lagos State Government through the Ministry of Commerce, Cooperatives, Trade and Investment, the event convened stakeholders from the public and private sectors to recognise individuals and organisations driving meaningful impact across Nigeria’s SME ecosystem.

Union Bank remains focused on deepening its support for SMEs through customer-led solutions and processes that strengthen business growth across the ecosystem.

Bank

Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion

Published

17 hours ago

May 12, 2026

Sahara Weekly

Atlantian Crown Bank Rebrands as Arizona Global Bank LLC, Begins Licensing for Global Expansion

_By AGP News

*UNITED KINGDOM OF ATLANTIS* — In a move signaling a push into international markets, the Royal Throne of the United Kingdom of Atlantis on Sunday announced the corporate transformation of Atlantian Crown Bank LLC into *Arizona Global Bank LLC*, as part of a wider restructuring to position the institution for global banking and financial innovation.

The announcement was made at a press conference in the UKA capital by *HRM Queen Amb. Cletus C. Leaticia*, Chief Executive Officer of the newly named bank. She told reporters the rebranding marks _“more than a name change”_ and reflects a strategic pivot toward digital finance, cross-border investment, and modern banking standards.

_“This transformation represents our commitment to innovation-driven banking and our vision to become a globally competitive financial institution,”_ Queen Leaticia said.

*Licensing Process Underway*

According to the Department of Financial Administration and Corporate Affairs, which issued the official communication, Arizona Global Bank LLC has formally begun the process of applying for a *Banking Operational Licence* under UKA’s financial regulatory framework.

Once licensed, the bank plans to operate as a modern financial enterprise focused on four pillars:

1. Innovation-driven banking and digital financial solutions

2. Corporate financing and structured investment services

3. International financial partnerships and cross-border trade facilitation

4. Financial inclusion initiatives

Bank officials stressed that the institution will _“maintain strict compliance with all banking regulations and supervisory standards”_ set by UKA financial authorities.

*Strategic Shift Amid Global Ambitions*

Management described the rebranding as part of a broader restructuring initiative to _“strengthen the bank’s international identity, expand its global financial footprint, and align operations with contemporary banking standards.”_

Representatives called the licensing and rebranding process a _“major milestone”_ aimed at supporting economic growth, international trade, and cross-border investment initiatives.

*No Disruption to Existing Commitments*

Addressing potential concerns from clients and partners, management reassured stakeholders that _“all existing institutional commitments, operational objectives, and long-term strategic plans remain fully intact throughout the transition process.”_

The Royal Throne indicated that further updates on the licence approval, commencement of operations, corporate partnerships, and investment programmes will be released through official UKA and Arizona Global Bank LLC channels.

_The Department of Financial Administration and Corporate Affairs, Royal Throne of United Kingdom of Atlantis, issued the official statement._

Bank

Fidelity Bank grows Gross Earnings by 45.6% for FY 2025

Published

18 hours ago

May 12, 2026

Sahara Weekly

Fidelity Bank grows Gross Earnings by 45.6% for FY 2025

Lagos, Nigeria – Fidelity Bank Plc, a leading Nigerian financial institution, has announced its audited financial results for the year ended 31 December 2025, reporting Gross Earnings growth of 45.6% from N1.04 trillion in 2024 to N1.52 trillion in FY 2025, reflecting stronger topline momentum across core business segments.

The Group recorded a Profit Before Tax of N347.7 billion. This performance was underpinned by a 38.7% year-on-year increase in interest income to N1.11 trillion (FY 2024: N803.1 billion) and a 44.7% year-on-year rise in fees and commission income to N113.4 billion (FY 2024: N78.4 billion).

On the balance sheet, total assets grew by 18.6% year-on-year to N10.46 trillion (FY 2024: N8.82 trillion), while customer deposits increased by 16.1% year on year to N6.89 trillion (FY 2024: N5.94 trillion), reflecting continued franchise strength and growing customer confidence in the brand. Net loans and advances declined by 2.4% year-on-year to N4.28 trillion (FY 2024: N4.39 trillion) as customers paid down on their mature obligations.

The Bank also strengthened its capital position during the period, with eligible capital rising to N561 billion, above the regulatory minimum of N500 billion for banks with international authorisation. In addition, capital adequacy remained robust, with Capital Adequacy Ratio of 30.94 percent as at 31 December 2025 (FY 2024: 23.47 percent).

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 the 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.