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Leadway Assurance, Nestle Nigeria Plc, Microsoft, Thrive Agric, Stears Join Sterling to Unlock $ 1 Trillion at ASA 2022

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4 years ago

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Sterling Reaffirms Commitment To Agriculture At Fifth ASA

Leadway Assurance, Nestle Nigeria Plc, Microsoft, Thrive Agric, Stears Join Sterling to Unlock $ 1 Trillion at ASA 2022

Sterling

Sterling Bank Plc has announced plans with her partners Leadway Assurance, Nestle Nigeria Plc, Microsoft Nigeria, Thrive Agric, GIZ, Stears Data and others for this year’s Agricultural Summit Africa (ASA); the largest private sector-led conference on the agriculture sector in sub-Saharan Africa.

Taking place on the 26th and 27th of October 2022, with registration ongoing at www.agricsummit.org, this edition of the ASA will focus on how the agribusiness sector can further unlock value and accelerate growth and transform Nigeria into a trillion-dollar economy.

 

 

Dr. Olushola Obikanye, Group Head of Agric and Solid Minerals Finance at Sterling, made this announcement in a statement released by the bank yesterday.

He said ASA 2022, with the theme “Engineering a Trillion Dollar Agricultural Economy,” will amongst other objectives, highlight recent successes of Nigeria’s agricultural diversification efforts by showcasing actual accomplishments and innovations while driving discourse to achieve actionable steps that will clear a path to achieve the true potential of the agribusiness sector of the economy.

 

 

 

 

In the statement, the Group Head said “With our roster of esteemed partners, the value of a gathering like the ASA to the Nigerian agribusiness sector and the economy becomes evident as the focus becomes stronger to make the most of the comparative advantages Nigeria has to help the country reach its potential”.

Dr Obikanye said the summit, will among other focus areas; deepen the conversation on Africa’s small-scale primary producers who make up more than 60% of Africa’s farming population and produces over 90% of our domestic output.

 

 

 

 

 

He reiterated the fact that Nigeria and Africa at large need to step up their import substitution drives by producing and sourcing locally at least 70 – 80% of the raw materials to revive our industries and create jobs for our teeming populations.

According to him, this would boost mechanization, the acquisition of inputs, and operator expansion among those involved in the value chain and result in higher output.

 

 

 

 

The Group Head explained that the summit will seek to explore the practicability of sustainable storage and power solutions at scale to drive aggregation and processing for value multiplication as the bedrock for services built around the sector’s output.

According to him, it is more important than ever to capitalize on the opportunities built into the African Continental Free Trade Area (AfCFTA) to create a regional market for Nigerian goods.

 

 

He added that the summit will also present innovation across pillars of technology and production techniques to spark interest and subsequently drive investments in sectors with the potential to accelerate the sector’s growth.

Besides this, the summit will also drive the use of the Pan-African Payment and Settlement System (PAPSS), which is the key value-delivery mechanism of trade within the region.

 

 

 

 

He remarked that the Nigerian economy has immense and unrealized potential in her primary production sectors to attain a Gross Domestic Product (GDP) estimated to be in the region of $440 billion, noting that recent global events have drawn attention to the volatility of the primary source of foreign exchange for the Nigerian state, along with the country’s ability to retain the value of her currency, maintain stability and a year-round supply of commodities, provide employment to afford goods and services, and create value to drive economic growth.

Dr Obikanye pointed out that the economies of some of the most developed countries in the world shared many similarities in their path to prosperity.

 

 

 

 

 

He continued by saying that regardless of whether an economy is based on extraction, processing, trade, services, tourism, or technology, each one typically takes advantage of its distinct gifts in some combination of the following factors that spur economic growth: land, labour, capital, and entrepreneurship.

The Group Head remarked that beyond these factors, is a pivotal element of deliberateness, where the emphasis is on implementing a turnaround with the existing assets.

 

 

 

 

He noted that the more established economies of the world will always be a reference point for other nations due to the robustness of their primary, secondary and tertiary sectors and their eventual diversification into knowledge-driven economies.

He noted that these super-economies have an underlying foundation that is typically a robust extractive and production sector that serves as the cornerstone for almost all other layers of value creation in such markets.

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Sahara weekly online is published by First Sahara weekly international. contact [email protected]

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Union Bank Honoured by ASBON at Nigeria National SME Business Awards

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2 days ago

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May 13, 2026

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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.

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

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2 days ago

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May 12, 2026

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*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._

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Fidelity Bank grows Gross Earnings by 45.6% for FY 2025 

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2 days ago

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May 12, 2026

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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.

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