Business

Sterling Reaffirms Commitment To Agriculture At Fifth ASA

Published

4 years ago

November 2, 2022

CBN sanctions Sterling Bank, parades officials for hoarding new naira notes [VIDEO]

Sterling Reaffirms Commitment To Agriculture At Fifth ASA

Chief Executive Officer (CEO) of Sterling Bank Plc, Mr. Abubakar Suleiman has said the bank is ready and willing to invest more in Nigeria’s agricultural sector, having invested more than N100 billion; a figure that represents about 15 percent of the bank’s total loans portfolio.

The CEO stated this in his closing remarks at the Agriculture Summit Africa (ASA) 2022 with the theme: “Engineering a Trillion Dollar Agricultural Economy,” which held recently both physically and virtually with more than 10,000 attendees from across the world.

Agriculture is one of the five sectors of the economy that the bank has focused its investments since 2018 as part of her HEART of Sterling strategy. The others are health, education, transportation, and renewable energy.

Suleiman observed that apart from the Bank of Agriculture, he could not think of any other financial institution that has committed its resources to agricultural financing like Sterling Bank

“When we started the journey about five years ago, we were very clear in our minds that we did not just want to make it a talk show and we have been changing the focus of the conversation from moving away from identifying problems to providing solutions and now we are bringing stakeholders together in a bid to effectively move the conversation forward with action.

“We started it because we wanted to focus on agricultural financing where there was a significant gap. Every time we meet a stakeholder or a regulator, we noticed a different perspective of what the problem was and therefore it became clear to us that if we do not bring all the stakeholders together to harmonise their views and understanding, we will continue to remain in the dark,” he said.

The CEO noted that the summit became imperative as part of the global conversation on food security due to the consequences of global trade which was so obvious during the COVID-19 pandemic when there was a global disruption in the supply chain.

“So, this conversation about food security in Africa is one that we will continue to sponsor because of its existential purpose which is about leveraging our competitive advantage,” he said.

The Agriculture Summit Africa (ASA) is one of the continent’s leading, privately funded platforms dedicated to increasing the value of the agribusiness value chain by creating a convergence of private and public sector interests, development finance institutions, agribusiness investors and players.

This year’s edition, proudly supported by esteemed partners such as Leadway Assurance, Thrive Agric, GIZ, Nestle Nigeria PLC, Stears Data, GIZ, Noor Takaful, and 2Scale, amongst others, featured four panels over two days of deliberations, with discussions on solving the challenge of import substitution for large scale manufacturers by facilitating the sourcing of key inputs locally, achieving sustainable productivity at scale; increasing the adoption of technology to improve output as well as discussions on a framework to standardize agro-commodities trade and exchange to increase the value created in the sector and open up new investment opportunities.

The two-day event also featured key stakeholders and players from the agribusiness value chain such as Yemisi Iranloye of Psaltry International, Ayo Arikawe from Thrive Agric, Adetola Adegbayi of Leadway Assurance, Mira Mehta of Tomato Jos, Elenwor Ihua of the Nigerian Commodities Exchange, Femi Aiki of Foodlocker, Akin Akeredolu-Ale of the Lagos Commodities and Futures Exchange, Maxwell Olitsa of 2Scale, Sandy Eyal of CropIT, Victoria Madedor of AgroVerified, Taiwo Ayoade of Plantation Industries amongst other experts drawn from a diverse cross-section of the sector.

The Country Manager of Netherlands-based bank, Rabobank, Mr. Kevin Kabatsi, in his keynote address, talked about how the bank is using agriculture exchange to create a digital marketplace in countries where it operates.

In her goodwill message, the Lagos State Commissioner for Agriculture, Ms. Abisola Olusanya, encouraged youths that are seeking greener pastures outside the shores of the country to have a rethink because opportunities abound in the country because of gaps in the agricultural value chain.

She also said Lagos State can only produce 15,000 tonnes of red meat yearly but consumes more than 342,000 tonnes of red meat with transaction value of N350 billion sitting on the table which nobody is picking up.

The ASA, proudly hosted by Sterling Bank, is the largest private sector funded summit on agriculture on the continent, dedicated to discussing and uncovering practical solutions to the region’s unique challenges, facilitating transactions between investors and agric-focused ventures by highlighting opportunities in the sector for the benefit of public and private interests and the nation’s economy.

Related Topics:Banking and finance Featured Sterling Bank

Up Next

FIRSTBANK SPONSORS FIFTH CHUKKER AFRICAN PATRONS CUP POLO TOURNAMENT

Don't Miss

YOU CAN STILL BE A WINNER IN THE ONGOING POLARIS SAVE & WIN PROMO

Sahara Weekly

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

Bank

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

Published

2 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

3 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.

Business

ALIKO DANGOTE FOUNDATION’S FORGES PARTNERSHIP WITH ISLAMIC DEVELOPMENT BANK

Published

5 hours ago

May 12, 2026

Sahara Weekly

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.