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When a Bank Puts SMEs First

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Last week will go down as one of the most challenging weeks, if not the most challenging, Nigeria has faced in 2020. What started out weeks before as very well-organised peaceful protests by young Nigerians campaigning to #EndSARS, was supplanted by hoodlums engaging in wanton looting, arson and destruction of public and private properties across many states at an unprecedented scale. By the end of the week, many lives had been lost, many properties and businesses completely destroyed and Nigeria has been left reeling from a shock that dwarfs any the country felt even at the peak of the COVID-19 outbreak.

In keeping with the Nigerian spirit of being one’s brother’s keeper, equally unprecedented efforts by individuals, groups and corporate organisations to try to provide assistance for people and businesses affected by the crises of the past week, have followed. Individuals and groups have announced donations of cash and materials, set up helplines to offer psychological counselling and support, and started online crowd-funding efforts in support of victims. Among corporate organisations, we have seen banks take a leading role. Some banks, such as Access Bank and Stanbic IBTC, have announced funds or desks they have set up to receive requests from, and process assistance for, affected individuals and businesses. One of these banks’ efforts include pledged interest-free loans and grants that affected businesses and individuals can access.

Another bank has seen thousands of requests for assistance pour in through the online channel it set up for the purpose. The requests have flowed in, not only because of the victims’ desperation for help, but also because of the humane approach to banking that this institution adopts. Always putting the customer at the heart of its business, FirstBank has been showing empathy with all those who have experienced one loss or the other as a result of the crises. Since last week, the bank has been seeking every opportunity to identify with people who are currently grieving and hurting.

Although the largest and most prominent member of Nigeria’s leading financial powerhouse, the FBNHoldings Group that is a one-stop shop for financial services ranging from commercial and investment banking to financial advisory, insurance brokerage and pensions custodianship, FirstBank is neither immune nor removed from the challenges people face. It is a human institution with thousands of humans working as employees to provide bespoke banking products and services to millions of other humans whose pulse the bank feels through its employees. Being part of a group with expertise across the broad spectrum of financial services, makes FirstBank the banking partner with the broadest shoulders to assist SMEs buffeted by the wave of violence witnessed across the nation last week.

Given the interconnectivity between Nigeria and FirstBank’s history, it is no surprise that a tumultuous week in Nigeria is giving way to one with stories of hope and optimism by Nigerians badly affected by the crises of the past week, who are looking to FirstBank for assistance. These Nigerians have been encouraged by the strides FirstBank has made over the years in the SME space as the bank of first choice for small businesses. Built around seven strategic pillars – of connect to infrastructure, connect to talent, capacity building, policy and regulation, connect to resources, connect to market as well as connect to finance – considered essential for the sustainability and growth of SMEs and intended to promote a healthy business interaction and adaptability of the SMEs with their immediate environment, FirstBank’s involvement with SMEs, through SMEConnect (the bank’s branded bouquet of empowerment initiatives, products and services tailor-made for SMEs), has been one that has sought to facilitate their growth into future economic powerhouses playing ever-increasing roles in Nigeria’s economic development.

Since its maiden SME National Conference in 2014, FirstBank has annually engaged small businesses and SME owners in series of empowerment seminars and workshops designed to improve their business capacity. Only this year, FirstBank held its inaugural SME Business Clinic in Lagos, Port Harcourt and Abuja with many SMEs in attendance. The SME Business Clinic featured Abayomi Adewumi, CEO of the Global Leadership Institute and an industry expert and business growth consultant with vast experience working with SMEs. He engaged participants on the FirstBank SME diagnostic tool designed for SMEs to check the health of their business, better understand it and drive profitability.

In 2019, FirstBank organised a weeklong SME event which had owners of SMEs in different sectors mentored across multiple states in the country. It was the first of its kind in the industry. Organised in partnership with SME Traction, a leading business coaching platform, it was aimed at empowering SMEs to make informed choices about their businesses, thereby facilitating growth and bolstering their contribution to the development of the economy. At the event, FirstBank’s Deputy Managing Director, Gbenga Shobo, underlined the importance the bank attaches to SMEs. He said: “At FirstBank, we recognise the impact SMEs have in promoting growth of the economy and are excited at the opportunity to continue to enable them prosper by strategically contributing to the sustainability of their business. We remain the trusted financial partner of SMEs and reiterate our resolve to be known as the brand that enables their success; much the same way that we have for over 125 years enabled Nigerians and the economy at large.”

This same point was elaborated at another FirstBank SME event, “Food Souk”, convened in 2019 in partnership with Eventful Limited, an events management firm, where the bank restated its commitment to the Federal Government’s diversification drive, promising to continue to support the agricultural value chain from production to consumption to create opportunities for SMEs in the food sector so they could in turn create job opportunities. The bank also extended its hand of partnership to all small businesses involved in organising different trade fairs and exhibitions. A food vendor at the event, Ms Ijeoma Ebeneme, the Chief Executive Officer, JEM N Iris, commended FirstBank for putting the event together. Ebeneme said she was at the food fair to make profit, meet new clients as well as create the needed publicity for her brand. It is for people like Ebeneme that FirstBank maintains an SME website (https://smeconnect.firstbanknigeria.com) with rich resources to help SMEs build capacity and improve how they run their business. On the website is a blog featuring business articles and tips, SME business toolkit, SME products, Microsoft 365 Business Basic and a whole lot more.

In support of owners of SMEs operating in the education sector, FirstBank, in partnership with the Lagos State Employment Trust Fund (LSETF), set up a matching fund scheme of 5 billion LSETF-FirstEdu Loan. Officially launched in September by Governor Babajide Sanwo-Olu of Lagos State and Dr Adesola Adeduntan, Managing Director/CEO of FirstBank, the scheme aims to cushion the impact of Covid-19 pandemic on low-cost private schools by ensuring lending at an attractive interest rate. Speaking at the launch, Dr Adeduntan said: “At FirstBank we recognise the indelible role played by the education sector in the growth of any economy and this underscores our partnership with Lagos State Government for continuous development of the education services in Lagos State and the nation as a whole. The commitment by the Lagos State Government – including this partnership – to enable schools is quite commendable as this will mitigate the challenges caused by the lockdown on the education sector following the COVID-19 pandemic.”

It is for efforts like all those highlighted above and many more that the 2019 edition of KPMG’s Annual Banking Industry customer Satisfaction Survey named FirstBank as the biggest mover in the SME space. The 2014 edition of the Survey had named the bank as the most popular bank among MSMEs for both deposit transactions and credit/loan facilities with 26 per cent of the SMEs surveyed identifying the bank as one where they had an ongoing loan facility or had obtained one in the recent past. It is also for the same reason that the unfortunate events of the last week have reignited the bond between Nigerians and FirstBank, a partner that they can bank on in times of need. The bank’s track record leaves no one in any doubt of its unwavering commitment to continue to weather all storms with Nigeria and Nigerian SMEs with whom it shares a common destiny.

Culled from BusinessDay

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Attempted Coup: DSS Arraigns Five for Alleged Refusal to Reveal Timipre Sylva’s Hiding Place

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The Department of State Services (DSS) at the Federal High Court in Abuja, arraigned five associates of former Minister of Petroleum Resources, Timipre Sylva.

They are accused of concealing information regarding the whereabouts of their principal, who is alleged to be a financier of an aborted coup attempt against President Bola Tinubu.

Sylva, a former Governor of Bayelsa State, has been declared wanted by the Federal government, and his identified properties have been marked for forfeiture following his indictment as the sponsor and mastermind of the alleged coup plot.

The five associates are Reuben Ayuba, Musa Mohammed, Friday Paul, Paganengigha Anagaha, and Ayebaifife Suobite. They were arraigned on Wednesday before Justice Peter Lifu.

A two-count charge filed against them indicates that the accused became accessories after the fact of felony on April 28, 2026, by concealing the whereabouts of Timipre Sylva, who is classified as a fugitive. The alleged offense is contrary to Section 519 of the Criminal Code Act Law of the Federation of Nigeria, 2004.

Additionally, the DSS has accused them of conspiracy to commit a felony, specifically for concealing the whereabouts of Timipre Sylva, also a fugitive, in violation of Section 516 of the Criminal Code, LFN 2004.

All the accused persons pleaded not guilty to the charges when they were read to them.

DSS lawyer, Emmanuel Orubor, requested that the judge schedule a date for the DSS to commence their trial by calling witnesses to testify against the defendants.

In response, Sunusi Musa (SAN), who represented Reuben Ayuba and Paganengigha Anagaha (the 1st and 4th accused persons), filed a bail application for his clients on various grounds.

Similar applications were made by Ibrahim Imadegbelo, representing Musa Mohammed (the 2nd accused), I. G. Kelubia, standing for Friday Paul (the 3rd defendant), and E. C. Sogo, who argued for Ayebaifife Suobite (the 5th accused person).

The lawyers pointed out to Justice Lifu that their clients have been in custody since October 25, 2025, and urged the court to grant them bail on liberal terms.

In a brief ruling, Justice Lifu granted them bail in the sum of N5 million each, along with two sureties for each, in a similar amount. The sureties are required to swear to an affidavit of means, provide evidence of three years of tax payment, demonstrate visible means of livelihood, and submit recent passport photographs.

Justice Lifu ordered that the claims of identities of the sureties must be verified by the Registrar of the Court.

Pending the perfection of the bail conditions, the Judge ordered that the accused persons be remanded in Kuje Correctional Centre in Abuja and fixed July 22 for the commencement of trial.

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UBA Reinforces Commitment to Rewarding Customer-Loyalty with N400m Bonus

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UBA Rewards Customer Loyalty with Over ₦400 Million Bumper Account Anniversary Bonus
…Reinforces commitment to rewarding customers for consistent savings
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has rewarded thousands of customers with over ₦400 million in anniversary bonuses under its flagship UBA Bumper Account, reaffirming the Bank’s unwavering commitment to rewarding customer loyalty and promoting a strong savings culture.

The payout, one of the largest loyalty rewards under the Bumper Account initiative since its launch, saw qualifying customers receive anniversary bonuses directly into their accounts, demonstrating UBA’s resolve to create lasting value for customers who consistently save with the Bank.

The UBA Bumper Account is a unique savings product that rewards customers simply for maintaining and growing their savings. Every year an eligible account reaches its anniversary, customers receive a cash bonus, making disciplined saving both rewarding and beneficial over time.
Speaking on the milestone, UBA’s Head, Retail Products, Tomiwa Sotiloye, said the Bank remains committed to ensuring that customers benefit directly from their relationship with UBA.

“At UBA, we believe customer loyalty deserves meaningful recognition. Every bonus paid is our way of saying ‘thank you’ to customers who continue to trust us with their financial aspirations. Surpassing the ₦400 million milestone reflects our commitment to creating products that not only help customers save but also reward them in tangible ways. It is another demonstration that when our customers grow, we grow with them.”

He added that both new and existing customers can open a UBA Bumper Account seamlessly through https://on.ubagroup.com/bumper-tc, any any UBA branch, the UBA Mobile Banking App, by dialing *919#, or online, positioning themselves to qualify for future anniversary rewards.

Also speaking, UBA’s Group Head, Brands, Marketing and Corporate Communications, Alero Ladipo, said the Bank’s customer-centric philosophy continues to shape its product offerings.

“The UBA Bumper Account reflects our unwavering commitment to putting customers first. We deliberately design products that reward responsible financial behaviour while delivering real value. Crediting over ₦400 million directly into customers’ accounts is not just a payout; it is evidence of our promise to make banking more rewarding and to continually appreciate the confidence our customers repose in us.”

The UBA Bumper Account remains one of the Bank’s flagship retail savings products, combining competitive savings benefits, digital convenience and attractive loyalty rewards. It forms part of UBA’s broader strategy to deepen financial inclusion by encouraging sustainable savings habits while delivering exceptional customer experiences.

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Dele Momodu Leadership Centre Hosts Media Scholar, Prof Abiodun Adeniyi

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By Anjorin Fehintola Stella

We often measure leadership by the institutions people build or the positions they occupy. Yet, during his visit to the Dele Momodu Leadership Centre, Professor Abiodun Adeniyi repeatedly returned to something less visible but perhaps more enduring; the responsibility of documenting one’s life and thoughts. He spoke as someone who understands, at a personal level, what is lost when experience is left unrecorded. His emphasis on documentation was not stylistic advice for writers. It was an argument about memory itself, about how societies retain or lose the wisdom of the people who pass through them.

Ideas disappear when they are undocumented because memory, at the collective level, is fragile and selective. A society does not remember everything that happens within it, it remembers what is written down, repeated, taught, or institutionalised. An undocumented thought, however brilliant, dies with the person who held it, or worse, drifts into vague anecdote, stripped of its original precision. This is why oral cultures, for all their richness, often struggle to transmit complex ideas across generations with fidelity. Professor Adeniyi’s point, then, was not simply about personal record-keeping. History remembers people largely through what they leave behind, not through what they intended to leave behind. Intention without artefact disappears.

When he spoke about travelling, it would be easy to reduce his words to a fondness for movement or exposure. But the deeper claim runs further than that. Travel disrupts familiarity. It exposes individuals to different ways of living, thinking, governing and imagining society. Professor Adeniyi suggested that travelling remains one of the simplest yet most profound forms of education because it broadens not only knowledge but perspective. A person confined to one environment mistakes the local for the universal. Movement across geographies forces a confrontation with alternative logics, alternative arrangements of power, family, and meaning, and that confrontation is often where genuine learning begins.

Perhaps the strongest advice he gave concerned the pursuit of a doctorate. When Aare Dele Momodu spoke of his desire to pursue a PhD, Professor Adeniyi’s response challenged a growing culture in which academic qualifications are sometimes pursued as symbols of prestige rather than vehicles of inquiry. A PhD earned for the title that follows a name produces a credential without a contribution. A PhD earned out of genuine curiosity produces new knowledge and, more importantly, sustains the kind of intellectual restlessness that defines a thinking life. Professor Adeniyi’s counsel was that one should choose a field that strikes them professionally and personally, something that connects to lived purpose rather than social signalling, because the value of advanced study lies in the questions it forces a person to keep asking long after the degree is conferred.

Professor Abiodun did not reserve his counsel for matters of scholarship alone. Turning to the younger staff in the room, Professor Adeniyi offered something closer to reassurance than instruction, that everything they are currently going through, the uncertainty, the striving, the sense of being far from where they hope to be, is a phase both he and Aare Dele Momodu have lived through themselves. It was a reminder that ambition rarely moves on a straight or visible timeline. The goals and dreams that feel distant now are not denied, only delayed, and what stands between the present moment and their fulfilment is simply time and dedication, applied without pause.

 

Underneath all these threads, travel, documentation, the meaning of scholarship, was a single, unifying idea about legacy. Legacy isn’t what people say about you. It’s what remains after you leave. This distinction matters because praise is temporary and circumstantial, shaped by mood, politics, and memory’s natural decay. What remains, however, is structural. It is the book on a shelf, the institution still running, the idea still being taught.

This is where the conversation returned, inevitably, to the Centre itself. The library. The scholars’ rooms. The conversations. The institution. Professor Adeniyi appeared genuinely moved by what he encountered, not by the scale of the buildings, but by what the buildings were designed to hold. Perhaps that is why Professor Adeniyi appeared genuinely moved by the Centre. It was never merely about architecture. It was about permanence. Buildings become legacy only when they preserve ideas.

Every visit leaves footprints. Some are physical. Others are intellectual. Professor Abiodun Adeniyi’s visit left the latter.

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