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HOW FIRSTBANK FINTECH SUMMIT IS CONTRIBUTING TO BRIDGE NIGERIA’S FINANCIAL INCLUSION

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By Bala Augie

As financial solution providers continue to face stiffer competition globally from Fintech startups and emerging technologies such as blockchain, cryptocurrency and crowdfunding, and the increasing level of disruption in the traditional mode of payment and business models, technology holds the key to unlock the potentials in the financial service sector across Africa through Fintech.

As the banking sector continues to find newer ways of engaging and providing customer centric services to bridge the current level of unbanked and under banked population to achieve Nigeria’s 2020 financial inclusion target, the fallout of the recently held FirstBank Fintech Summit 3.0., is that technology is the growth to financial institution in Africa.

“Customer experience and innovation are key in our approach to satisfying our customers. As a leading banking services solutions provider, FirstBank has continued to set the pace in the financial services industry, coming up with new initiatives to provide financial products and services with greater speed, accountability and efficiency,” said Adesola Adeduntan, the CEO, First Bank of Nigeria Limited at the recent FirstBank Fintech Summit 3.0.

Adeduntan opined that the third edition of the FirstBank Fintech Summit indicates the Bank’s commitment to putting its customers first. According to him, FirstBank is keen at offering excellent financial services by devising new ways of effectively and efficiently meeting customers’ financial needs.

“Evidently, financial technology is causing positive disruption in the financial services industry. The impact of technology in lifestyle business and other areas of today’s customer is huge. We are therefore following global trends in collaborating with Fintechs and other big technology companies on several transformational initiatives to be able to satisfy our customers’ needs,” said Adeduntan.

According to Adeduntan, the main purpose of the FirstBank Fintech summit is to converge thought leaders in the FinTech space to champion discourse around financial technology and proffer solutions that will shape the future of banking.

He stated further that key areas of interest for the bank, is to champion the propositions around e-business and digital offering, agent banking, wholesale or transaction banking product suite, retail and consumer lending and SME productivity.

“I am optimistic that every organisation represented here will be empowered to provide services with greater speed and solve real societal problems to the advantage of the Nigerian populace through the insights that will be gained from this event.

“At FirstBank, our promise is to always deliver the ultimate ‘gold standard’ of value and excellence. We will therefore stop at nothing to provide excellent and innovative financial services to our esteemed customers,” he concludes.

Victor Asemota, keynote speaker at the summit said the essence of Fintech is the ability to deploy technology towards solving human problems with tools and processes. According to him, innovation simply means the ability to effectively combine and deploy tools, process and people together to achieve an aim.

Asemota opined that Fintech will help to end the deficit narrative associated with human centered innovation. Hence, people plus innovation will result into solving real life problems, real time.

Chuma Ezirim, the Group Executive, eBusiness and Retail Products, said Fintech is an enabler in solving real problems in the financial sector. However, building a strong digital franchise in the financial ecosystem will be driven by successful partnerships.

In rolling out the figures, Ezirim said, “Over 18m customer accounts, over 10m cards issued (processes about 25% of card transactions in Nigeria). Highest number of Verve transacting cards; Visa debit multi-currency card. Over 8 million users (80% of customer base) with an average of 2.1 million transactions worth over N7 billion is processed daily.

“Over 3.3 million customers; over 500,000 transactions worth N23billion are processed daily. Over 36,000 active agents in Nigeria with a dominant presence in 754 local governments in the 36 states. Over 600,000 transactions worth over N9billion are processed daily,” said Ezirim.

According to him, in developing digital innovation lab, the banking sector must create new digital experiences for customers by enhance existing channels and products. Therefore, banks and the financial sector should leverage Fintech and non-Fintech ecosystem in Nigeria by promoting open innovation, collaboration and co-innovation in the Nigerian financial services sector.

According to Ezirim, in offering banking as a service to its customers is leveraging its API infrastructure. FirstBank is today offering payments through accounts, wallets and cards. However, he is of the view that there are growth areas and opportunities in Fintech.

According to him, Fintech allows banks to offer real time processing of transaction (instant payments and settlements). Mobile payments/acceptance channels through mobile Apps, USSD, QR Code, E-/M commerce, and others that are out-growing cards usage.

Similarly, Fintech has contributed to the digitalization of person to person, person to business, business to person and business to business payment transactions. And, it allows for new approaches to assessing risk in underserved segments especially with consumer and SME Loans.

Callistus Obetta, the Group Executive, Technology & Services, FirstBank, said financial technology has made positive disruption in banking and other financial services; and financial institutions will do well to take advantage of Fintech.

According to him, FirstBank is taking giant strides in the digital space. “In a short time, we have become the foremost financial inclusion solution provider with over 36,000 agents in all states of the federation. We have done over N2 trillion in transaction value from inception to date.

“The FirstBank Agent Banking Network is currently doing over N8 Billion daily. This is helping us reduce poverty in the country. Our Firstmobile application has become the foremost mobile banking application in the country with over 3 million users doing over 14 million transactions monthly,” said Obetta stating that FirstBank has been able to achieve this feat due to its ability to embrace technology.

However, Obetta urged participants at the Fintech summit to leverage on the insights shared by speakers. “We will continue to adopt the best technology and collaborate with the best partners to deliver value to our customers,” Obetta stated.

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Precision and Heritage: How Fifi Stitches Is Rewriting African Fashion Narratives

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Precision and Heritage: How Fifi Stitches Is Rewriting African Fashion Narratives

 

 

A Nigerian-born designer is gradually carving out a cross-continental footprint in contemporary fashion, blending African textile heritage with British technical discipline.

 

Esther Fiyinfoluwa Adeosun, Founder and Creative Director of Fifi Stitches, is gaining recognition for structured womenswear and bridal couture that reinterprets traditional fabrics through architectural tailoring and precision construction.

 

Born in Ibadan, Oyo State, Adeosun’s fashion journey began at home, seated beside her mother’s sewing machine. What started as childhood curiosity, sometimes jamming the machine just to understand its mechanics—evolved into a disciplined design practice now operating between Nigeria and the United Kingdom.

 

During an interview with journalists the fifi Stitches once mentioned “I was fascinated by how flat fabric could transform into something structured and meaningful”.

 

In her Story , early designs made for her family, though imperfectly finished, were worn with pride—an encouragement that laid the foundation for her professional confidence.

 

Today, Fifi Stitches is recognised for sculpted bodices, controlled tailoring, corsetry construction, and the contemporary reinterpretation of Ankara, Aso Oke, and Adire textiles.

 

The brand challenges the long-held perception that African fabrics belong solely in ceremonial contexts, instead positioning them within global luxury and modern design spaces.

 

Adeosun’s training reflects this dual perspective. She studied Fashion Design and Entrepreneurship at the Institute for Entrepreneurship and Development Studies, Obafemi Awolowo University, and earned a Diploma in Fashion Design through Alison Online.

 

In the UK, she undertook industry-focused technical training with Fashion-Enter Ltd and gained fashion business exposure through Fashion Capital UK.

 

Her technical expertise spans pattern drafting, draping, garment technology, structured tailoring, corsetry, and bespoke fittings—skills she describes as central to credibility in fashion. “Precision builds trust,” she says. “A designer must understand construction as deeply as creativity.”

 

Fifi Stitches has showcased collections at the Suffolk Fashion Show, Liverpool Fashion Show – FB Fashion Ball, Red Carpet Fashion Event in London, and through editorial features in London Runway Magazine.

 

The brand has also received coverage in The Guardian Nigeria and Vanguard Allure, expanding its visibility across markets.

Beyond couture, Adeosun integrates community impact into her practice.

 

She has facilitated garment construction workshops, draping sessions, and introductory training programmes for women and emerging creatives, promoting fashion as both artistic expression and vocational empowerment.

 

 

Fifi Stcithes Boss operates between Nigeria and the UK, in order to continue to shape her brand identity.

 

 

According to her “Nigeria provides cultural richness and expressive textile traditions, while the UK offers structured production systems, sustainability conversations, and institutional frameworks”.

 

Looking ahead, Adeosun said she plan to establish a fully structured fashion house spanning Africa and the UK, develop scalable production partnerships, launch capsule collections, and expand independent editorial visibility.

 

Her broader ambition is clear: to position African textile craftsmanship within global contemporary design conversations—through structure, discipline, and technical excellence.

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GTCO Launches “Take on Squad” Hackathon 3.0, Opens Call for Applications 

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GTCO Launches “Take on Squad” Hackathon 3.0, Opens Call for Applications 

 

 

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has announced the launch of “Take on Squad” Hackathon 3.0, reaffirming its commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.

Now in its third edition, the Hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors including financial services, healthcare, commerce and digital inclusion. Under the theme “Smart Systems: The Intelligent Economy,” participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.

Applications are now open, and interested teams can find full guidelines and registration details on the official portal at https://squadco.com/hackathon.

Speaking on the initiative, Eduophon Japhet, Managing Director of HabariPay, stated: “Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve. Through “Take on Squad” Hackathon, we are deliberately investing in the ideas and talent that will define the future. Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact. This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress.”

The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.

Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.

 

About HabariPay

HabariPay Ltd is the fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), one of the largest financial services institutions in Africa with direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom.

Licensed by the Central Bank of Nigeria (CBN), our goal is to support SMEs, micro merchants, large corporations and other fintechs (Tech Stars) with the tools they need to thrive in an evolving digital economy and expand beyond their current market reach. HabariPay’s solutions include Squad, a full-scale digital payments toolkit to make in-person and online payments simpler, HabariPay Storefront, an e-commerce website to facilitate online purchases, Value-Added Services to help merchants access cost-effective and flexible airtime and data bundles to run their businesses, as well as a switching infrastructure that enables tech-focused businesses to optimise cost and make transactions more efficient.

HabariPay’s contributions to Accelerating Digital Acceptance in Africa have not gone unnoticed–it received Mastercard’s Innovative Mobile Payment Solution Award at TIA 2022 for its innovative payment solution, SquadPOS.

About Squad

Squad is a complete digital payments solution that is reliable, secure, and affordable, making receiving in-person and online payments simpler and convenient.

Thousands of merchants currently leverage Squad’s payment solutions for their daily business operations. Squad’s current products and service offerings include SquadPOS, Squad Payment Links, Squad Virtual Accounts, USSD, and E-Commerce Storefront.

Find out more at www.squadco.com.

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Electric 8-Seater Tula Moto Keke Enters Nigerian Market, Targets Higher Operator Earnings

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Electric 8-Seater Tula Moto Keke Enters Nigerian Market, Targets Higher Operator Earnings

 

 

LAGOS — A new electric-powered tricycle with an expanded passenger capacity has been introduced into Nigeria’s urban transport sector, offering operators a potentially more profitable and eco-friendly alternative to conventional petrol-driven “keke.”

 

The newly launched 8-seater electric tricycle, now available in Lagos with plans for nationwide distribution, features a dual-row seating arrangement capable of accommodating up to eight passengers per trip—significantly higher than the standard three-passenger configuration common across the country.

 

 

Promoters of the innovation say the increased capacity is designed to boost daily earnings for operators, particularly amid persistent fluctuations in fuel prices. By running entirely on electric power, the vehicle eliminates dependence on petrol, reducing operating costs and shielding drivers from fuel price volatility.

 

 

According to the distributors, the tricycle is equipped with a durable battery system capable of covering extended distances on a single charge, making it suitable for commercial operations across high-traffic routes, residential estates, campuses, and marketplaces.

 

“The concept is straightforward—enable drivers to earn more while spending less,” a company representative stated. “With higher passenger capacity and zero fuel requirements, operators can maximise each trip without the burden of daily fuel expenses.”

 

Beyond its cost-saving potential, the electric keke is also said to require less maintenance than traditional models, offering additional long-term savings. Its quieter and smoother operation is expected to enhance passenger comfort and overall commuting experience.
Industry analysts note that the introduction of electric mobility solutions reflects a growing shift toward cleaner and more sustainable transportation alternatives in Nigeria, particularly in densely populated urban centres such as Lagos.

 

 

The distributors added that the product is currently available under a limited promotional offer, with delivery options across the country.

 

For inquiries and purchase: 📞 08153432071
📞 08035889103
Office Address:
📍 Plot 9, Block 113, Beulah Plaza,
Lekki–Epe Expressway,
Lekki Phase 1, Lagos

 

As transportation costs continue to rise and environmental concerns gain prominence, innovations like the electric 8-seater keke may signal an emerging transition toward more efficient and sustainable mobility solutions nationwide.

 

Electric 8-Seater Tula Moto Keke Enters Nigerian Market, Targets Higher Operator Earnings

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