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Nigeria’s digital economy to make significant contribution to GDP

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Tech's role in bringing retailers online

Nigeria’s digital economy to make significant contribution to GDP

By Olorunfemi Adejuyigbe

 

Nigeria's digital economy to make significant contribution to GDP

 

Remarkably, the Nigerian digital economy holds immense potential for the overall growth of the economy. As projected by the Minister of State Budget and National Planning, Prince Clem Ikanade Agba, the digital economy would raise the country’s Gross Domestic Product (GDP) to 15 percent by 2025.

While there are so many actors in the digital sphere contributing to make this a reality, the activities of B2B e-commerce companies like Alerzo cannot be overlooked. This group has led in revolutionising the operations of the retail sector across the country, particularly the underserved areas.

 

 

 

 

 

By connecting manufacturers and distributors to micro businesses through digital technology, B2B e-commerce companies are making the FMCG supply chain operate more effectively, saving cost, extending reach and safety.

Worthy of note also is the fact that the retail sector worth $100b in itself contributes 50% of the country’s GDP.

 

 

 

 

 

 

With the positive impacts that Alerzo and other e-commerce platforms are making along with other players in the digital sphere, the government and other stakeholders have woken up to the possible contribution of the digital economy to the development of the country. To propel the country towards attaining a vibrant digital economy, the Federal Government unveiled a roadmap in the form of a National Digital Economy Policy and Strategy (NDEPS) 2020 to 2030.

Led by the Ministry of Communication and Digital Economy, government agencies such as National Information Technology Development Agency (NITDA), Nigerian Communication Commission (NCC) have keyed into this, formulating policy directions towards a vibrant digital economy for Nigeria.

 

 

 

 

 

 

 

However, there is a need for e-commerce platforms to be given more support so as to help this ecosystem of manufacturers, distributors, B2B e-commerce and micro businesses to run profitably and sustainably and consequently increase the contribution to GDP.

Bank

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

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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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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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ALIKO DANGOTE FOUNDATION’S FORGES PARTNERSHIP WITH ISLAMIC DEVELOPMENT BANK

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ALIKO DANGOTE FOUNDATION’S FORGES PARTNERSHIP WITH ISLAMIC DEVELOPMENT BANK

ALIKO DANGOTE FOUNDATION’S FORGES PARTNERSHIP WITH ISLAMIC DEVELOPMENT BANK

 

 

 

Ms. Zouera Youssoufou, Managing Director & CEO of Aliko Dangote Foundation (ADF) in company with Mr. Ahmed Iya, Head of Community Engagement & Polio Eradication of ADF visited Dr. Rami Ahmad, Vice President (Operations) of the Islamic Development Bank at IsDB Headquarters in Jeddah.

 

The delegation used the occasion to highlight the activities of the Foundation so far which made great impact on people of all races by enhancing opportunities for social change through strategic investments that improve health and wellbeing, promote quality education, and broaden empowerment opportunities for individuals and communities.

 

 

 

Dr. Rami also expressed his expectation of a good and rewarding partnership between the two organisations, as many member countries of the IsDB face pressing debt challenges that constrain their investments in people and livelihoods.

 

ALIKO DANGOTE FOUNDATION’S FORGES PARTNERSHIP WITH ISLAMIC DEVELOPMENT BANK

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