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NIMC Charts Bold Path to 100% Digital Identity Coverage

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NIMC Pushes Digital Public Infrastructure to Improve Service Delivery, National Security

The National Identity Management Commission, NIMC has set its sights on enrolling every Nigerian into the national identity database, unveiling an ambitious grassroots-focused strategy at its 2025 Management Retreat with the theme: “Leading with Purpose: Digital Transformation in Identity Management.”

Addressing senior staff, territorial directors, regional and state coordinators during the high-level retreat, NIMC Director General and Chief Executive Officer, Engr. Abisoye Coker-Odusote emphasized that the national identity project has moved beyond administrative necessity to become a critical tool for inclusion, development and governance.

“This isn’t just about identity. It’s about inclusion,” said the DG. “We want to ensure that the unbanked, the poor, and the vulnerable have access to government interventions and the NIN is the gateway.”

With over 120 million unique NIN records already in the database, Coker-Odusote noted that the Commission aims to bridge remaining gaps by targeting underserved populations, particularly children and youth under 16.

She noted that a presidential directive has given new momentum to the Commission’s efforts, unlocking unprecedented inter-agency collaboration and high-level support.

The DG/CEO noted that as of 2025, NIMC operates over 1,200 offices nationwide, covering all 774 local government areas and with the launch of the Ward-Level Enrollment Initiative, more underserved communities will be reached through partnerships with private sector FEPs and the expansion of community-level operations.

“Mr. President has directed that we take enrollment closer to the people to prevent disenfranchisement,” the DG/CEO noted. “Transformation isn’t possible without the people, that’s why we’re investing in them, through training, tools, and a conducive work environment.”

NIMC Charts Bold Path to 100% Digital Identity Coverage

Coker-Odusote said with 760 million NIN verifications to date and over 150 million monthly, the National Identity Number is now integral to accessing banking, healthcare, telecoms, education, passport issuance and social safety nets.

As NIMC looks to the future, the DG/CEO concluded with a confident outlook: “Nigeria is on the right path. We’re not just leading identity transformation locally, we’re setting the pace for Africa.”

Giving an overview, the Director of Information Technology and Identity Database, Lanre Yusuf, announced that NIMC will roll out a ward-level enrollment strategy targeting all 8,809 political wards in Nigeria.

This approach, according to Engr. Yusuf will focus on schools, health centres and local communities, not only enrolling students but also parents, patients and others in their immediate surroundings.

“With the deployment of over 35,000 National Youth Service Corps (NYSC) members, we’re confident we can enroll between 95% to 100% of Nigerians within six months,” Yusuf stated.

Also speaking at the retreat, Head of the Strategy and Programme Office at NIMC, Dr. Alvan Ikoku said the success of NIMC’s transformation has been driven by internal synergy and system innovation.

He described 2024 as a watershed year, with various departments working collaboratively to harmonize and integrate national identity with over 100 MDAs.

“NIMC now hosts the largest citizen identity database in Africa, and we’re using it to power digital transformation, reduce identity fraud, and improve service delivery,” he said.

Dr. Ikoku noted that part of this integration includes the NINAuth app, a plug-and-play solution that enables secure identity verification using QR code scans, a feature now being adopted by several government and private agencies.

Backing these efforts is the Nigeria Digital Identification for Development, ID4D project, a World Bank-supported initiative. Project Coordinator of the ID4D PIU, Tito Ejenavi, outlined how the project is strengthening NIMC’s operational backbone.

NIMC Charts Bold Path to 100% Digital Identity Coverage

“We’ve supported the upgrade of NIMS architecture, provided capacity building, settled backlogs for front-end partners (FEPs), and are now expanding biometric storage from 100 million to 250 million records,” Ejenavi said.

Ejenavi added that other improvements include middleware upgrades, backend integrations and improved authentication systems.

Ogun Police Command Seeks Structural Integrity of Masts After Thunderstorm Incident

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blacktalker
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Ogun Police Arrest Cultist in Igbesa, Launch Manhunt for Accomplices

The Ogun State Police Command has Area Commanders to urgently engage with companies that own masts situated near residential areas to assess their structural integrity and ensure safety of lives and property.

Commissioner of Police, CP Lanre Ogunlowo, gave the directive after the command received a distress call on June 3, 2025 at about 14:39 hrs, from one Mr. Moses Olalere, reporting a natural disaster during a heavy downpour.

According to Mr.Olalere, a communication mast belonging to IHS Company, located in Ajuwon, Akute, Ogun State, collapsed due to the severe weather conditions.

The mast fell on a residential building in Unity Estate, Alagbole.

Fortunately, the landlord, who was inside the house at the time of the incident, survived with minor bruises. He was promptly attended to by medical personnel and is confirmed to be in stable condition.

In response to the incident, Ogunlowo also issued a directive for heightened awareness and public sensitization across the state.

The Commissioner of Police added that preliminary investigation has commenced and members of the public will be notified of further development.

LAGOS COMMEMORATES 2025 WORLD OCEANS DAY

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blacktalker
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LAGOS COMMEMORATES 2025 WORLD OCEANS DAY

All is set for Lagos State to join the rest of the world on Sunday, 8th June, 2025 to celebrate the World Oceans Day, a day set aside to raise awareness about the urgent need to protect and preserve our oceans, lagoons and waterways.

This year’s theme, “Wonder: Sustaining What Sustains Us,” will serve as a powerful reminder to all well-meaning Lagosians of the vital role our aquatic ecosystems play in everyday life.

These vibrant bodies of water are more than just scenic landscapes, they regulate the climate, support marine biodiversity, and sustain the livelihoods of millions across Lagos and Nigeria.

Honourable Commissioner, Ministry of Waterfront Infrastructure Development, Ekundayo Alebiosu emphasised the importance of appreciating and safeguarding these natural resources.

His words: “From the bustling shorelines of Lagos to the remote coastal communities around the world, oceans and lagoons provide food, employment, recreation, and spiritual value. They are a gift of nature, a lifeline for fishermen, a playground for children, and a source of sustenance for families across Nigeria.”

He decried the growing negligence toward our waterways and highlighted the detrimental impact of human activities such as pollution, overfishing, and illegal dredging.

“Today, our waters are under increasing pressure. Pollution, overfishing, and illegal dredging threaten the balance of these ecosystems. Our waters feed us here in Lagos, but currently, there is too much pressure on them,” he said.

According to him, World Oceans Day is more than a celebration. It is a call to action for men in authority, businesses, civil society, and individuals to unite in protecting our oceans and coastal environments.

Alebiosu also revealed that a series of events and initiatives have been scheduled to commemorate the day, aimed at educating and inspiring Lagosians to take greater responsibility for water conservation.

“We will continue preaching and spreading the word until our water bodies are spared from the harm caused by human activity. We hope that after this event, our message is not just heard; but it is felt,” he said.

Wema Bank Wins ‘Commercial Bank of the Year’ at 2025 Nairametrics Capital Market Awards

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blacktalker
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Wema Bank Wins 'Commercial Bank of the Year' at 2025 Nairametrics Capital Market Awards

Wema Bank has been announced as the winner of the ‘Commercial Bank of the Year’ Award at the 2025 Nairametrics Capital Market Choice Awards (NCMC Awards).

The announcement was made at the prestigious awards gala held on May 23rd at the Civic Center in Lagos, where standout performers across Nigeria’s capital markets were celebrated.

The Nairametrics Capital Market Choice Awards is a data-driven platform that recognises excellence among publicly listed companies in Nigeria.

Winners are selected based on key metrics such as revenue growth, profitability, return on equity, and shareholder value creation. The 2025 edition was themed “Capital Market as a Catalyst for Nigeria’s Economic Transformation.”

The NCMC Awards recognised Wema Bank for its exceptional financial performance, value creation, and consistent returns to shareholders.

In a highly competitive ‘Commercial Bank of the Year category’ that included industry heavyweights, Wema stood out for its record-breaking ₦102 billion profit before tax in 2024, robust year-on-year revenue and profitability growth, and one of the strongest returns on average equity in the sector.

The bank’s disciplined execution, investor-focused strategy, and continued leadership in digital innovation further strengthened its capital market appeal, making it a clear choice for the award and a rising force among Nigeria’s top-tier financial institutions.

Receiving this honour during its 80th anniversary year adds profound meaning to the recognition. For eight decades, Wema Bank has continually evolved, transforming from a regional lender into a forward-looking, digitally-led national bank today.

Its recognition as ‘Commercial Bank of the Year’ reflects not just recent performance but a sustained commitment to resilience, reinvention, and excellence.

Commenting on the award, Moruf Oseni, Managing Director and Chief Executive Officer of Wema Bank, said, “Being named Commercial Bank of the Year is a powerful affirmation of the bold choices we’ve made to transform our business and deliver real value to our stakeholders.

It’s a proud moment for Wema Bank – every employee, customer, and shareholder who has been part of this journey. As we mark 80 years of impact, this award celebrates the legacy we’re carrying forward and the future we’re determined to shape – one defined by innovation, trust, and sustainable growth.”

Wema Bank PLC also earned a nomination in the highly competitive Company of the Year category, where it stood as the only financial institution shortlisted alongside two energy giants. Wema’s presence in both categories underscores its growing reputation as a high-performing, innovation-driven institution within and beyond the banking sector.

The NCMC Awards continues to spotlight institutions driving meaningful change and setting new benchmarks in Nigeria’s capital markets. Wema Bank’s dual presence of winning Commercial Bank of the Year and earning a rare nomination in the Company of the Year category reinforces its growing influence beyond traditional banking.

It is a testament to the bank’s evolution into a dynamic, future-ready institution delivering impact across sectors. This accolade further highlights Wema Bank’s momentum in 2025, as the institution continues to deliver on its strategic goals while celebrating 80 years of banking excellence and innovation.

IPC, CEMESO Convene Meeting with Key Media Operational Leaders to Advance Professionalism

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blacktalker
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CEMESO Condemns Shutdown of Badeggi FM, Urges Niger State Governor to Respect Democratic Rights

The International Press Centre, IPC and the Centre for Media and Society, CEMESO has announced plans to host a strategic engagement with key media operational leaders on Tuesday, June 3rd, 2025.

With support from the European Union Support to Democratic Governance in Nigeria, EU-SDGN II, this meeting is part of initiatives to explore how to strengthen ethical and professional standards in reporting Nigeria’s electoral and democratic environment.

The high-level event is also designed to foster collaboration among media executives and secure commitments towards inclusive, fair, and accountable electoral reporting.

Participants will include media executives and media managers from the broadcast, print and online media who will exchange ideas and reach common understanding around media’s democratic responsibilities and the need for editorial policies that reflect professionalism and compliance with regulatory standards, including the National Broadcasting Code and the Nigerian Media Code of Election Coverage.

According to Executive Director of IPC, Mr. Lanre Arogundade: “As media gatekeepers, operational leaders play a decisive role in shaping narratives and setting standards. This engagement offers an opportunity to strengthen their commitment to journalism that promotes credibility, transparency, and social inclusion.”

Executive Director of CEMESO, Dr. Akin Akingbulu also emphasized that: “This engagement is crucial for aligning media leadership with democratic norms. By reinforcing professional ethics and editorial responsibility at the highest levels, we can ensure that the media continues to play a transformative role in Nigeria’s democratic development.”

The June 3rd convergence is one of three planned under this intervention. It will be followed by targeted outreach visits to media houses and virtual follow-up sessions, forming a multi-layered approach to deepening accountability and institutional leadership in the media sector.

The EU-SDGN II programme underscores the European Union’s strong commitment to supporting a democratic Nigeria that is pluralistic, inclusive, and participatory. The programme is built on six interconnected pillars: the Independent National Electoral Commission (INEC), the National Assembly, the Judiciary, political parties, civil society and the media.

By reinforcing these key democratic institutions, the programme seeks to promote a system of governance where accountability thrives, citizens are empowered, and every voice is heard.

LAGOS DEBUNKS REPORT ON RELEASE OF MODEL COLLEGES/UPGRADED SCHOOLS RESULTS

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blacktalker
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Lagos Government Probes Viral Video of Students Smoking, Drinking in Dormitory

Lagos State Ministry of Basic and Secondary Education has called on Parents and Guardians whose wards or candidates participated in the Model Colleges CBT Examinations Screening Test to disregard any publication that cut-off marks required for any of the Lagos State Model Colleges/Upgraded Schools has been released.

The Permanent Secretary in the Ministry, Mrs. Abisola Dokunmu-Adegbite who made the call, described the publication as fictitious and fraudulent, purported that candidates who scored the required cut-off marks of 50% at any of the State’s Model Colleges/Upgraded Junior Secondary Schools will be offered merit admission upon decision by the Examinations Board.

The Ministry state unequivocally that the purported publication / information is fake, fraudulent and did not emanate from the State Government or any of its Agencies.

The Permanent Secretary also advised those seeking admission into the State’s Model Colleges/Upgraded Schools to watch out for Official Announcement from appropriate quarters of the State Government.

She warned Parents and Guardians to be wary of fraudsters and impostors, as Lagos State does not engage in clandestine admission process into these Schools.

LAGOS ANNOUNCES 150 MILLION NAIRA AGRITECH COMPETITION, SEEKS YOUTH PARTICIPATION TO BOOST FOOD SECURITY, INNOVATION

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blacktalker
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LAGOS ANNOUNCES 150 MILLION NAIRA AGRITECH COMPETITION, SEEKS YOUTH PARTICIPATION TO BOOST FOOD SECURITY, INNOVATION

Lagos State government has officially launched Lagos Agrithon 2025, a bold new initiative aimed at accelerating innovation within the agricultural and food systems sector.

The Honourable Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, announced the commencement of the programme during a press briefing held at the Ministry’s conference room in Alausa, Secretariat on Monday, June 2, 2025.

With a total grant pool of ₦150 million, the Commissioner said the initiative will support at least 35 promising agrifood startups and youth-led ventures across the state. She noted that applications open today(June 2) and will close on June 27, 2025.

“Lagos Agrithon is more than a contest. It is a movement,” Olusanya said. “It is a platform for bold ideas, youth-led innovation and scalable solutions that tackle the food challenges of today and anticipate those of tomorrow.”

According to her, the initiative comes at a time when Lagos, Nigeria’s economic and population hub, is facing increasing pressure on its food systems and though the state consumes more food than any other state in Nigeria, Lagos produces less than 30% of its food needs.

With the population projected to exceed 30 million by 2035, the Commissioner noted that food security in Lagos is no longer just an agricultural issue—it is an economic, environmental, and social imperative.

Olusanya listed key focus areas and opportunities that the Lagos Agrithon 2025 targets transformative solutions to include: Urban and vertical farming (hydroponics, aquaponics, rooftop gardens); Aquaculture and fisheries; Agro-processing and value addition; Post-harvest storage and food logistics and Horticulture and vegetable crop production.

LAGOS ANNOUNCES 150 MILLION NAIRA AGRITECH COMPETITION, SEEKS YOUTH PARTICIPATION TO BOOST FOOD SECURITY, INNOVATION

Others are Agritourism and eco-farming; Youth and women-led agribusiness initiatives; Climate-smart and sustainable agriculture; Precision farming, agri-fintech, and digital innovation and Market access and food affordability solutions.

The Commissioner explained further that the programme is open to youth aged 18–40 who are leading startups (0–5 years old) within the agriculture or food systems sector, while applicants must be Lagos-based or have measurable impact in the state, be registered with the Corporate Affairs Commission, and enrolled with LASSRA.

She noted that applications must include an online registration form and a pitch deck outlining the problem being addressed, the proposed solution, and the anticipated impact.

Beyond funding, the Commissioner noted said the Agrithon 2025 offers a robust support system, including: Virtual and physical pitch sessions; a dedicated mentorship hub; a Grand Finale event where winners will be announced, the state’s premier platform for connecting agri-innovators with investors, policymakers, and industry leaders.

This is a strategic response to a real and growing challenge. It is an investment in the minds and hands that will feed our future,” Olusanya emphasized, calling on partners, educators, media and investors to rally behind the initiative.

Blacktalker quoted the Commissioner as saying previous winners of the Agrithon are not eligible for this edition. She also urged Young Agripeneurs to visit the Lagos Agrinnovation and Ministry of Agriculture websites for full details.

Earlier, Executive Secretary, Lagos State Employment Trust Fund, Feyisayo Alayanda urged youths in the state to leverage the opportunities being offered by the state government such as the 2025 Agrithon to contribute their quota to the growth of the Lagos Food Systems and other Agricultural subsectors.

Present at the launch of the Competition were the Permanent Secretary, Ministry of Agriculture and Food Systems, Mr Emmanuel Audu, Directors from the Ministry, Officials oof the Lagos State Employment Trust Fund, Private Sector Partners, Young Entrepreneurs in the Agric Sector among others.

Fitch Upgrades Fidelity Bank’s National Rating to ‘A+(nga)’, Affirms Long-Term IDR at ‘B’

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blacktalker
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Fidelity Bank Grows Q1 Gross Earnings by 38% to N434.95bn

Global credit rating agency, Fitch Ratings, has affirmed Fidelity Bank Plc’s Long-Term Issuer Default Rating (IDR) at ‘B’ and upgraded its National Long-Term Rating to ‘A+(nga)’ from ‘A(nga)’.

The upgrade, announced on May 29, 2025, reflects the bank’s strengthened capital buffers and improved profitability, signaling continued positive momentum in its performance.

According to Fitch, the rating upgrade is underpinned by Fidelity Bank’s successful capital raise through a rights issue and public offer, as well as a notable improvement in profitability—driven by higher interest income and a stable base of low-cost current and savings deposits.

Commenting on the announcement, Managing Director/CEO of Fidelity Bank, Dr. Nneka Onyeali-Ikpe, said, “This upgrade by Fitch Ratings affirms the resilience of our business model, the strength of our risk management practices, and our unwavering focus on delivering sustainable value to stakeholders.

Despite a challenging macroeconomic environment, we have continued to maintain strong asset quality, solid profitability, and ample liquidity. This recognition reinforces our position as one of Nigeria’s most resilient and customer-focused financial institutions.”

One of the key drivers of the improved rating is the bank’s robust capitalization. Fitch reports that Fidelity’s Fitch Core Capital (FCC) ratio rose to 29.9% at the end of 2024—well above the regulatory minimum. The agency also noted that further capital raising efforts are expected to position the bank to meet the ₦500 billion minimum capital requirement for internationally licensed banks before the 2025 deadline.

Fidelity Bank’s market positioning remains strong. As Nigeria’s sixth-largest bank, it commands approximately 5% of total banking sector assets. The bank’s balance sheet is reinforced by a high proportion of low-cost deposits, which accounted for 93% of total deposits as of year-end 2024—among the highest in the Nigerian banking industry.

The affirmation and upgrade by Fitch is expected to enhance investor confidence and support Fidelity’s continued efforts to scale its operations both locally and internationally.

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.

Rite Foods Donates Educational Materials to 2,000 Pupils in Lagos, Ogun, Abuja

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blacktalker
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Rite Foods Donates Educational Materials to 2,000 Pupils in Lagos, Ogun, Abuja
From Left: Ismail Ganiyu, Head, Human Resources; with Ekuma Eze, Head, Corporate Affairs and Sustainability; Olalere Jamal Olawale, Production Supervisor, all of Rite Foods Limited; and Idris Mukailia Olakunle, Head Teacher, Moslem Primary School, Ososa, Ogun State; during the donation of school bags and exercise books by Rite Foods Limited to pupils of Moslem Primary School, on Wednesday, 28th May 2025, as part of its corporate social responsibility (CSR) initiative in commemorating the Children’s Day celebration, where 2,000 school bags and 4,000 exercise books were donated to primary school pupils in Ogun and Lagos States, including the Federal Capital Territory, Abuja.

As part of its Corporate Social Responsibility initiative and in celebration of Children’s Day, Rite Foods Limited, Nigeria’s leading food and beverage company, has donated educational materials to 2,000 pupils in 10  schools across Lagos, Ogun State and the Federal Capital Territory, Abuja.

The educational materials donated to the schools include school bags and exercise books designed to support pupils in underserved communities on their academic journey.

The donations were made during visits to schools in Ososa (Ijebu-Ode), Ogun State and the Oworonshoki area of Lagos on May 28 and 29. The initiative aims to enhance the academic experience of the pupils and encourage their commitment to education as future leaders.

In line with its sustainability goals, Rite Foods produced the school bags using recycled nylon waste generated from its product packaging, such as labels from Fearless Energy Drinks, Bigi Water and Soft Drinks, and sausage wrappers. This not only reduces environmental waste but also teaches children the value of recycling and circular economy practices.

From Left: Ismail Ganiyu, Head, Human Resources, Rite Foods Limited; with Dr. Chinedu Azih, Managing Director, Kazih Kits; Ekuma Eze, Head, Corporate Affairs and Sustainability, Rite Foods Limited; and Awoniyi Abayomi Johnson, Head Teacher, St. Thomas Catholic Primary School, Ososa, Ogun State; during the donation of school bags and exercise books by Rite Foods Limited to pupils of St. Thomas Catholic Primary School, on Wednesday, 28th May 2025, as part of its corporate social responsibility (CSR) initiative in commemorating the Children’s Day celebration, where 2,000 school bags and 4,000 exercise books were donated to primary school pupils in Ogun and Lagos States, including the Federal Capital Territory, Abuja.
From Left:  Ismail Ganiyu, Head, Human Resources, Rite Foods Limited; with Dr. Chinedu Azih, Managing Director, Kazih Kits; Ekuma Eze, Head, Corporate Affairs and Sustainability, Rite Foods Limited; and Awoniyi Abayomi Johnson, Head Teacher, St. Thomas Catholic Primary School, Ososa, Ogun State; during the donation of school bags and exercise books by Rite Foods Limited to pupils of St. Thomas Catholic Primary School, on Wednesday, 28th May 2025, as part of its corporate social responsibility (CSR) initiative in commemorating the Children’s Day celebration, where 2,000 school bags and 4,000 exercise books were donated to primary school pupils in Ogun and Lagos States, including the Federal Capital Territory, Abuja.

 

In Ososa, beneficiaries included pupils from Moslem Primary School, St. Thomas Catholic Primary School, and St. John’s Anglican Primary School.

In Lagos, the Rite Foods team visited Oworonshoki Nursery and Primary School, Local Government Nursery and Primary School, Ayeroju Nursery and Primary School, Mosafejo Nursery and Primary School, and Muslim Nursery and Primary School in Kosofe LGA.

Each event included a funfair and refreshments as part of the Children’s Day celebration. It also featured an interactive session that educated pupils on sustainability and the importance of recycling packaging waste into useful products, such as school bags.

Speaking during the event, Head of Corporate Affairs and Sustainability at Rite Foods, Ekuma Eze, emphasized the significance of investing in children’s education.

“Our CSR program is symbolic of the role children play in nation-building. By encouraging education and sustainability, we are shaping a generation that understands the value of learning and environmental stewardship.”

Similarly, Head of Human Resources at Rite Foods, Ismail Ganiyu noted that “As part of our commitment to education and youth development, we’re proud to support our future leaders with materials that aid their academic growth.”

Also speaking, Managing Director of Kazih Kits, Rite Foods’ technical partners in producing the bags, Dr. Chinedu Azih stated that, “This initiative is a testament to what can be achieved when corporate leadership aligns with grassroots innovation. Turning waste into hope for 2,000 children is both impactful and inspiring.”

Dr. Azih highlighted the project’s alignment with the United Nations Sustainable Development Goals (SDGs): SDG 4: Quality Education, SDG 13: Climate Action, and SDG 17: Partnerships for the Goals

Leaders of the schools and local education authorities commended Rite Foods for its thoughtful gesture, noting that the initiative eases the financial burden on parents and supports pupils’ academic performance.

Head Teacher of Moslem Primary School, Ososa, Idris Mukaila Olakunle, praised the company’s generosity and wished them continued success. Similarly, the Chairman of the School-Based Management Committee, Kosofe LGA, Kehinde Dare, expressed gratitude, affirming that Rite Foods’ action demonstrates a genuine concern for the educational development of Nigerian children.

FIRSTBANK DISBURSES N1 BILLION IN ONE DAY, THROUGH AGENT CREDIT SCHEME

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blacktalker
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FirstBank Unveils Exclusive 500-Seater Premium Bleacher at Carnival Calabar 2025

Firstmonie Agent Credit Scheme is a FirstBank’s digital lending solution designed to empower a wide range of low-income individuals who face barriers in accessing traditional credit channels.

This innovative programme offers financial support to Firstmonie Point-Of- Sale agents by enabling them to overcome liquidity challenges and capitalize on new opportunities without disruption in business due to lack of funds in agents accounts.

The Agent Credit scheme is aimed at bridging financial gaps and solving liquidity challenges, resulting from depleted account balances, even when the Agents have physical cash at hand. 

The scheme helps them to run business effectively by providing digitalized loans which is convenient, seamless and easily accessible via the Firstmonie App.

 Agent Credit is a groundbreaking innovation that elevates the Agent experience. This game-changing scheme digitalise loan application processes and enables agents access to digital loans with greater ease.

By proffering varieties of value-added services for Agents this unlocks new business opportunities, eliminates lengthy payment delays, and provides agents with instant access to loans, hence revolutionizing the way they operate and assures their entrepreneurial success.

For over 131 years, FirstBank has been a giant advocate for their customers, enabling their success by providing a secure and trustworthy environment for their financial transactions. Agent Credit is a testament to FirstBank’s commitment to empowering their agents and elevating their business experience. 

Reiterating the Bank’s role in deepening financial inclusion in the country,Group Executive, e-Business & Retail Products, Chuma Ezirim said “With this innovative solution, we are bridging the financial gap and providing our agents with the necessary tools to succeed in today’s fast-paced market.

By extending credit facilities with a low interest rate, increasing eligibility loan amount as transaction increases and streamlining loan application processes, we are confident that Agent Credit will revolutionize the way our agents operate, enabling them to reach new heights of success and growth. FirstBank remains committed to financial literacy and inclusion, empowering individuals and communities to manage their finances effectively”.

The creation of Firstmonie Agents was in compliance with the Central Bank’s directive for all banks to expand banking to all the unbanked areas of the country in order to create financial inclusion across the nation.  By expanding financial services to rural areas, FirstBank creates employment opportunities and drives economic growth.

The presence of banking agents in all the nooks and crannies of the nation was accomplished by FirstBank within a short period of time such that by December 2021 they had covered 772 out of the existing 779 Local Government Areas in Nigeria. 

These services help businesses grow and innovate, while initiatives like Agent Credit promote financial inclusion, education, and access to financial services, ultimately contributing to economic development.

Since the creation of Agency Banking, the ease of access to business and indeed personal funds has been great.   Many lives were lost in the past through travels from villages or rural settlements to the city in order to use banking facilities. Today, “Mobile ATMs” as the agents are fondly called are equipped to carry out services which includes account opening, cash deposit, cash withdrawal, bills payment, and money transfers. 

FirstBank has undergone several transformations, constantly adapting to the changing financial landscape, pioneering various banking solutions to meet the needs of its diverse customer base. The bank’s retail banking division has been instrumental in providing accessible financial services, contributing to the nation’s economic development. 

The scheme offers more than funds, the Agents are trained regularly, exposed to technology and other incentives like bespoke award events where attractive prizes are won.

Disbursing N1 billion in a single day to its Agents through the Agent Credit Scheme is a significant milestone by the Nation’s Pioneer Financial institution. This accomplishment underscores FirstBank’s commitment to financial inclusion and its innovative approach to retail banking.

Since its launch in 2020 the Agent Credit scheme has provided solutions to the agent’s pressing needs by providing quick access to affordable credit facilities, enabling them to manage liquidity challenges and expand their businesses. Agents can access up to N1.5m with loans disbursed in under a minute through the Firstmonie App.

The facility is not only super-fast, it offers a flat interest rate of 0.3% with flexible repayment terms, making it an attractive option for agents seeking to increase their operations.

Since its inception, the bank’s Agent Credit Scheme has disbursed over N571 billion empowering over 37,000 Firstmonie Agents in 3million loan counts, reinforcing FirstBank’s commitment to supporting Firstmonie Point-Of- Sale agents and promoting economic development.

A testament to FirstBank’s Retail Banking leadership.  The successful disbursement of N1 billion in a single day through the Agent Credit Scheme highlights the bank’s innovative approach to retail banking and its dedication to financial inclusion.

By leveraging technology and a vast Agent network, the bank has transformed the banking experience of millions of Nigerians especially those in remote and underserved communities.  FirstBank’s retail banking strategy, characterized by customer-centric solutions and digital innovations continues to set industry standards. 

The bank’s efforts have not only enhanced financial access but also contributed to job creation and economic empowerment across the country.

By empowering Firstmonie Agents with the necessary tools, resources and incentives, FirstBank fosters a more inclusive financial ecosystem, ensuring that banking services are accessible to all Nigerians, regardless of their location. 

As FirstBank continues to innovate and expand its retail banking services, it remains steadfast in its mission to be the partner of first choice in building the future of its customers and the nation at large.

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