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Zero Processing Fee: GTBank Removes POS Processing Fees to Support Businesses

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blacktalker
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Guaranty Trust Bank Ltd has announced the removal of processing fees on all GTBank POS terminals, reinforcing its commitment to supporting businesses with cost-effective payment solutions.

This initiative, which took effect from Tuesday, 11 February 2025, communicates that merchants using GTBank POS terminals will no longer incur Merchant Service Charges (MSC) when receiving payments from customers.

With this initiative, all qualifying SME Merchants can now receive payments at zero cost, allowing them to reduce operational expenses, whilst promoting the merchant’s enterprise, and enhancing customer experience.

Speaking on the initiative, Managing Director, Guaranty Trust Bank Nigeria, Miriam Olusanya said: “At Guaranty Trust Bank, we are always looking for ways to add value to our financial ecosystem. By implementing the zero processing fees on POS transactions, we are empowering businesses to get the full value of every payment they receive, whilst also ensuring a more seamless and efficient payment experience.”

The Zero Processing Charge campaign aligns with GTBank’s ongoing efforts to empower businesses with innovative financial solutions that drive growth and efficiency.

For more information, merchants are encouraged to contact their Relationship Managers or reach out to the Digital Banking Support Team at poshelpdesk@gtbank.com.

About GTBank

Guaranty Trust Bank (GTBank) is a leading financial institution committed to delivering innovative banking solutions that empower businesses and individuals. With a strong focus on technology and customer satisfaction, GTBank continues to redefine the banking experience across Africa and beyond.

CAPPA Demands Reinstatement of Nasarawa State University Students Rusticated for Planning Peaceful Protest

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blacktalker
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Corporate Accountability and Public Participation Africa, CAPPA has strongly condemned the violent intimidation and rustication of more than 25 students by the Nasarawa State University, Keffi (NSUK), over a planned demonstration.

”We demand their immediate reinstatement and an end to this crackdown on student activism in Nigeria.”

”NSUK suspended these students for one academic session on bogus charges of “criminal conspiracy, inciting public disturbance, and cyberbullying. Their only offence was being members of a WhatsApp group created last year to discuss and mobilise for a peaceful protest against the university’s arbitrary introduction of a third semester and imposition of an additional fee of 20,000 naira per course for registering and resitting “carry-over” exams.”

Rather than engaging with the legitimate concerns of students, the university under the leadership of Prof. Sa’adatu Liman allegedly resorted to surveillance and coercion as a response. It utilised security operatives to infiltrate the WhatsApp group, monitor conversations, and identify targeted students for administrative and brute discipline.

For participating in conversations in the group, students who spoke to CAPPA said they were tracked, hounded on campus, arrested, handcuffed, and chained at their feet before being dragged to the police station, where their phones were seized. They endured harrowing nights in detention before securing bail—only to be slapped with rustication letters in December 2024.

”CAPPA condemns these inhumane actions and the blatant violation of students’ fundamental rights to free speech and peaceful assembly, as enshrined in Sections 39 and 40 of the 1999 Constitution of Nigeria, as amended.”

”Sadly, the repression at NSUK is part of a deeper rot. The university’s nullification of its last student union election further exposes its growing authoritarian culture. When the likely result was not going to favour the management’s handpicked candidate, democratic process was simply discarded.”

”Higher learning institutions should uphold democracy, critical thinking, and intellectual freedom, providing spaces where students can engage in discourse without fear of retaliation. Instead, we are witnessing an alarming trend where these institutions across the country are rapidly transforming into despotic environments, working overtime to erode student resistance and enforce a culture of silence.”

”We are not unaware that the endgame of this deliberate crackdown is to strip undergraduates of critical consciousness, eliminate opposition to the rising cost of education and crumbling learning conditions, and ultimately produce graduates who are nothing more than zombies for the broader society—incapable of questioning or challenging systemic injustices. But what is a society without critical thinkers? A nation that suppresses independent thought and inquiry only breeds conformity, docility, and decay.”

”CAPPA stands in full solidarity with all victimised students of Nasarawa State University, Keffi and commends them for taking the initiative to organise against exploitative policies. We call on all stakeholders and unions in the education sector, along with civil society organisations, to speak out against this injustice.”

”We demand the immediate and unconditional reinstatement of all suspended students. Furthermore, we urge collective action to halt the growing commercialisation of public education and criminalisation of student organising. This creeping dictatorship in Nigerian universities must be stopped.”

Director General of Nigeria-China Strategic Partnership Felicitates Chinese on Lantern Festival

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blacktalker
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The Director-General of the Nigeria-China Strategic Partnership, NCSP, Mr. Joseph Tegbe, has on behalf of President Bola Ahmed Tinubu, extended good wishes to the people of China and the Chinese community in Nigeria on the celebration of the Lantern Festival which comes after the Chinese Lunar New Year.

This stems from the strong economic and bilateral relations between Nigeria and China, which has manifested in the strong commitment to advancing economic and infrastructural development in the country.

Tegbe, in his celebratory message, conveys the wish of President Bola Ahmed Tinubu and the good people of Nigeria to his Chinese counterpart, through the Nigeria-China Strategic Partnership.

The NCSP DG, wishes the Chinese community in the country a happy celebration, with love and happiness, as the Lunar Year ushers in good tidings that resonates with the diplomatic ties between both countries.

He prays that the Lantern Festivity brings prosperity, good fortune, and joy to the people of China and the Chinese community in Nigeria.

The DG also expressed his delight at the hospitality of the business community in China, during his recent visit to the country for expansion of Nigeria’s economic and business growth.

The trip which resulted in a series of talks with leading Chinese Corporations, Banks, and Business leaders to review the priority of the Forum on China-Africa Cooperation (FOCAC) projects and explore various funding options for accelerated delivery, was very successful.

While in China, Tegbe bolstered strategic agreements in vital sectors of the economy, and the support for Nigeria’s economic diversification plans, infrastructure development, technology transfer, and job creation, for mutually beneficial collaboration between the two nations.

The Lantern Festival, also known as the Spring Lantern Festival, is a Chinese festival celebrated on the fifteenth day of the first month in the lunar Chinese calendar. This marks the final day of traditional Chinese New Year celebrations. Over time, it has become the most popular lantern festival and light event in China.

OGUN STATE POLICE COMMAND DECLARES ZERO TOLERANCE FOR LAND GRABBERS, ASSURES PROSECUTION FOR OFFENDERS

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blacktalker
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The Commissioner of Police, Ogun State Command, CP Lanre Ogunlowo, has reaffirmed his commitment to upholding the rule of law and maintaining peace in Ogun State, particularly in Yewa Land.

Ogunlowo noted that his administration will not collaborate with land grabbers and assured that those found engaging in land-grabbing activities would face legal prosecution.

He stated this during a strategic meeting with the Chairman of the Ogun State Obas Council, Oba Dr. Kehinde Olugbenle, the Paramount Ruler of Yewa Land with discussions centred on strengthening security in the region.

The traditional ruler emphasized his dedication to ensuring peace in Yewa Land but highlighted growing concerns over the destruction of farmlands due to open grazing by herders. He called on the police command to implement sustainable security measures to address the rising tensions between herders and villagers.

In response, Ogunlowo assured the traditional rulers that the command would not hesitate to prosecute herders who deliberately destroy farmlands through open grazing. He acknowledged that recent incidents have led to conflicts between herders and farmers, causing unrest in the region.

He further emphasized that an immediate investigation would be launched to identify those responsible for such actions and ensure justice is served.

The Commissioner’s stance reinforces the Ogun State Police Command’s commitment to maintaining law and order while fostering peaceful coexistence among all residents of the state.

HABARIPAY’S SQUAD ANNOUNCES DATES FOR TAKE ON SQUAD HACKATHON 2.0

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blacktalker
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0

….Invites Applications From Young Innovators Across Africa.

HabariPay’s Squad, a payment fintech subsidiary of Guaranty Trust Holding Company Plc, GTCO has announced dates for its annual social coding competition.

Building on the success of the inaugural edition, “Squad Hackathon 2.0” is set to take place from the 13th–15th of March 2025 at the state-of-the-art GTCO Training Complex, Tayo’s Plaza, Abeokuta, Ogun State. 

Launched in January 2024, Take on Squad Hackathon is designed to foster creativity, collaboration, and problem-solving skills among emerging tech talents.

Competing teams will leverage Squad’s advanced APIs to create scalable digital solutions that not only improve their immediate communities but also contribute to addressing wider economic and social concerns.

The second edition of the hackathon is expected to be even larger and more impactful, with expanded participation from universities across Nigeria and a broader range of impactful problem statements. 

With the theme: “Finclusion Revolution: Unlocking Access, Empowering Communities,” this 3-day event aims to spotlight how technology can address real-world challenges that limit access to financial services in underserved communities.

The hackathon will feature onboarding, team-building activities, brainstorming and hacking sessions, and solution development. By providing a platform for university students and other tertiary institution participants to showcase their IT skills, the event fosters personal growth, professional development, and network-building.

Additionally, it serves as a stepping stone for young innovators to gain exposure, attract investment, and potentially bring their solutions to market.

Speaking on the upcoming Take on Squad Hackathon 2.0, Eduophon Japhet, Managing Director of HabariPay Ltd, said: “The Take on Squad Hackathon reflects our core mission of empowering businesses and young innovators. We believe that the next big breakthrough in technology will come from young minds who are passionate about solving current and emerging universal challenges.

At Squad, we are not just building cutting-edge payment solutions for our clients; we are nurturing a culture of innovation and empowering the next generation of tech leaders in Africa.”

Registration for Take on Squad Hackathon 2.0 is now open for teams of four. Beyond the grand prizes of 5 million naira for first place, 3 million naira for second place, and 2 million naira for third place standout participants will have the exclusive opportunity to join the Squad

Hackademy. This initiative, powered by Squad, provides young innovators with access to comprehensive learning resources, expert mentorship, and exclusive job opportunities within Squad’s ecosystem of partners.

Interested candidates are urged for more details and application guidelines, to please visit https://squadco.com/hackathon. 

About HabariPay

HabariPay Ltd is the fintech subsidiary of Guaranty Trust Holding Company Plc (GTCO), one of the largest financial services institutions in Africa with direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom.

Licensed by the Central Bank of Nigeria (CBN), our goal is to support SMEs, micro-merchants, large corporations, and other fintechs (Tech Stars) with the tools they need to thrive in an evolving digital economy and expand beyond their current market reach.

HabariPay’s solutions include Squad, a full-scale digital payments toolkit to make in-person and online payments simpler, HabariPay Storefront, an e-commerce website to facilitate online purchases, Value-Added Services to help merchants access cost-effective and flexible airtime and data bundles to run their businesses, as well as a switching infrastructure that enables tech-focused businesses to optimise cost and make transactions more efficient.

HabariPay’s contributions to Accelerating Digital Acceptance in Africa have not gone unnoticed–it received Mastercard’s Innovative Mobile Payment Solution Award at TIA 2022 for its innovative payment solution, SquadPOS.

About Squad

The squad is a complete digital payments solution that is reliable, secure, and affordable, making receiving in-person and online payments simpler and more convenient. 

Thousands of merchants currently leverage Squad’s payment solutions for their daily business operations. Squad’s current products and service offerings include SquadPOS, Squad Payment Links, Squad Virtual Accounts, USSD, and E-Commerce Storefront. 

Find out more at www.squadco.com.

Anambra Government not Against Traditional Worship-ANSEC

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blacktalker
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Anambra State Government through the State Executive Council, ANSEC has strongly affirmed that the State Homeland Security Law 2025 signed in January is not against traditional worship which is an essential component of the Igbo traditional religion and culture.

This assertion was made known during the ANSEC second meeting of the year, held at the Council Chamber on February 10, 2025, in Awka, Anambra State.

In a release by the Commissioner for Information, Law Mefor, the Council extols the state’s security system, Operation Udo Ga-Achi, meaning Peace Shall Reign, for its successes in cracking down on criminals, destroying their hideouts, and making peace reign in Anambra.

ANSEC also urged the Operation Udo Ga-Achi force not to relent in their pursuit of a safer Anambra, by waging the war against kidnappers, cultism, armed robbery, and killings, idolatry among other heinous crimes.

The statement revealed that the new Anambra Homeland Security Law was designed to combat crime and criminality committed by quacks and evil native doctors, particularly those who pervert and alter the core values of the Igbo society, those who promote and teach the acquisition of wealth without work, and those who deceive the younger generation and unwary members of the society.

The Council further reaffirmed that the State Government has not and will not outlaw traditional worship. The Council further called for moral rearmament and social re-engineering to restore society’s lost values and ensure a healthy future for the state.

Minister of Livestock Development Commends Amo Farm, Noilers’ Role in Food Security

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blacktalker
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Dr. Ayoola Oduntan, Group Managing Director, Amo Farm Sieberer Hatchery Ltd; Alhaji Idi Mukhtar Maiha, Minister of Livestock Development; and Mr. Idris Ajimobi, Senior Special Assistant to the President on Livestock Development, alongside farm workers at one of Amo Farm’s Breeder Farms, during the Minister’s visit to Amo Farm Sieberer Hatchery Limited, recently.

The Minister of Livestock Development, Alhaji Idi Mukhtar Maiha, has commended Amo Farm Sieberer Hatchery Limited, a leading player in Nigeria’s livestock sector and the developer of the Noiler chicken breed, for its contributions to agricultural growth.

He lauds the role of Noiler, a dual-purpose bird for both meat and eggs, in enhancing food security and empowering rural communities, especially women.

This was during his tour of the company’s breeder farms and hatcheries in Awe, Oyo State on the 2nd of February, 2025, while gaining firsthand insight into its large-scale poultry operations.

He stressed the importance of scaling up Noiler production through village-based cooperatives and farmer-supplier out-grower models. This approach, he noted, would enhance the availability and affordability of animal-based protein nationwide.

The Minister, who said he had previously purchased Amo Farm’s day-old chicks for his farm, expressed interest in future collaboration with the company. “For us in the Ministry, these are the types of partners we want to identify and work with, he said.”

On his part, the Group Managing Director of Amo Farm, Dr. Ayoola Oduntan, applauds the Federal Government for establishing the Ministry of Livestock Development, noting its immense potential in securing Nigeria’s food and protein security.

Dr. Oduntan stressed the crucial role of the private sector in driving growth and innovation in the livestock industry, stating, “The creation of the Ministry of Livestock Development is a promising step toward securing Nigeria’s food future. We at Amo Farm are committed to producing quality, affordable protein for Nigerians, and we look forward to the possibility of collaborating with the Ministry to scale our efforts even further.”

He also called for increased investment in agriculture and livestock production to meet the needs of the country’s growing population, with emphasis on the positive impact of Noiler farming in providing a sustainable protein source for many families with the company’s capacity to do so.

As part of the tour, the Minister was shown the artificial insemination process, an efficient method used at Amo Farm to enhance the production of fertilized eggs, and actively participated in the process, witnessing the advanced approach to poultry reproduction firsthand.

Present during the visit was Dr. Anand Burra, Managing Director of Amo Farm Sieberer Hatchery, who described the Minister’s visit as a significant step toward advancing the animal protein and livestock industries in Nigeria.

Amo Farm Sieberer Hatchery Limited remains committed to strengthening Nigeria’s food system. The company produces one-million-day-old chicks per week and is renowned for developing Noiler, a dual-purpose breed transforming rural poultry farming. Through its subsidiary, natnudO Foods, Amo Farm continues to produce high-quality animal protein products, further reinforcing its commitment to food security and nutrition.

FEDERAL GOVERNMENT IDENTIFIES NIN AS KEY TO ACCESSING SOCIAL SERVICES

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blacktalker
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NIMC APPROVES PRICE REVIEW FOR ITS SERVICES, PRODUCTS

The Secretary to the Government of the Federation (SGF), Senator George Akume, has said Nigerians will require the National Identification Number (NIN) to access social services.

He also emphasized that the poor and vulnerable population would need it to benefit from palliatives.

The SGF made this statement while declaring open an Inter-Ministerial retreat on the Nigeria Digital Identification for Development (ID4D) Project at the Radisson Blu Hotel, Ikeja, Lagos.

Senator Akume who was represented by Professor Babatunde Bolaji, reiterated that providing digital identity for all Nigerians is a cardinal focus of President Bola Ahmed Tinubu’s administration.

He urged all government agencies to support the National Identity Management Commission (NIMC) in establishing a robust and inclusive national identity system.

The SFG also commended the NIMC Director-General, Engr. (Dr.) Abisoye Coker-Odusote, for her dedication and commitment to fulfilling the Commission’s mandate.

Senator Akume who is also the Chairman of the Project Ecosystem Steering Committee (PESC) of the Nigeria Digital Identification for Development (ID4D) Project assured her of his willingness to support the commission in pursuing reforms that will reposition it through the Nigeria Digital Identification for Development Project.

Similarly, the Minister of State for Humanitarian Affairs and Poverty Reduction, Tanko Sununu, lauded the NIMC leadership and the ID4D team for their achievements so far.

He also reiterated his Ministry’s collaboration with NIMC to ensure that the NIN is used to access social services and palliatives meant for vulnerable populations across the country.

For her part, the NIMC DG/CEO, represented by Ayobami Abiola, the Technical Assistant on Policy and Partnerships, expressed gratitude to the SGF and the Minister. She assured the PESC members of the Commission’s readiness to deliver on its mandate.

“The enthusiasm and collaborative spirit displayed at this retreat are truly encouraging,” said the NIMC Director-General, who is also the Secretary of the PESC.

“Our discussions today have not only highlighted our achievements but also paved the way for innovative solutions to the challenges ahead.

“We are confident that with sustained inter-agency collaboration and support from all critical stakeholders, we will fast-track our mission to reposition the national identity system, making it more robust and inclusive, ensuring that every Nigerian and legal resident has a verifiable digital identity and that no one is left behind,” she added.

The retreat was attended by key members of the Project Ecosystem Steering Committee and other strategic partners, who reviewed the progress of the Nigeria Digital Identification for Development (ID4D) Project, celebrated milestone achievements, and engaged in robust discussions to address implementation challenges.

Ogun State Commissioner of Police Addresses Officers of Ilaro Area Command, Enforces IGP’s Directive on Personnel Appearance.

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blacktalker
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Commissioner of Police, Ogun State Command, CP Lanre Ogunlowo has embarked on a tour of the Ilaro Area Command, where he addressed officers and reinforced key directives aimed at improving professionalism and public trust in the police force.

During his address, Ogunlowo conveyed the Inspector General of Police’s directive that all tactical officers must be fully kitted in their police uniforms while on duty. He issued a stern warning that any officer found operating in mufti during official duties would face severe disciplinary actions.

Ogunlowo also engaged with newly posted constables to various divisions, emphasizing the importance of good public relations. He urged them to always put their best efforts into serving the public, maintaining professionalism, and treating citizens with respect and decorum.

He reminded officers that they are public servants and must never use their firearms to intimidate the public, as the police are not trained to kill, stressing that officers carrying firearms must be well-versed in the laws governing their use.

Additionally, the CP instructed officers to ensure the proper maintenance of patrol vehicles. He cautioned against reckless handling of police vehicles and warned against deliberate misuse that could lead to damage, reiterating that these assets are meant to serve the public and not for personal exploitation.

The Commissioner’s visit underscored the commitment of the Ogun State Police Command to uphold professionalism, discipline, and public safety.

Investors Affirm Support for Fidelity Bank Plc with 238% oversubscription in First Phase of Equity Capital Raise

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blacktalker
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Leading financial institution, Fidelity Bank Plc, has announced the successful conclusion of the first tranche of its equity capital raise through its Public Offer and Rights Issue (the Combined Offer) following the completion of the capital verification exercise conducted by the Central Bank of Nigeria (CBN), and approval of the Basis of Allotment by the Securities and Exchange Commission (SEC).

A total of 108,046 applications for 23,791,687,463 Ordinary Shares totaling ₦231,968,952,764.25 were received on the Public Offer. Out of these, 107,588 applications for 23,768,724,000 Ordinary Shares totaling ₦231,745,059,000.00 were found to be valid based on the terms of the Offer and the CBN’s verification.

However, 458 invalid applications for 22,765,143 Ordinary Shares totaling ₦221,960,144.25 were rejected, while 548 applications which included odd lots amounting to 198,320 Ordinary Shares (i.e. ₦1,933,620.00) were also rejected. The Public Offer was 237% subscribed and 150% allotted.

With respect to the Rights Issue, 7,559 applications for 4,430,290,237 Ordinary Shares totaling ₦40,980,184,692.25 were received of which 656 applications for 23,037,442 Ordinary Shares totaling ₦213,096,338.50 were invalid based on the terms of the Rights Issue. The Rights Issue was 137.73% subscribed and 100% allotted.

“We are delighted to announce the successful completion of the first phase of our capital raising initiatives through a Public Offer and Rights Issue. The positive result recorded in our Combined Offer is a testament to the strength of the Fidelity Bank franchise in the capital market. It is both gratifying and humbling to note this level of investor confidence in our Bank.

We extend sincere gratitude to our investors for their continued confidence in the Bank, as evidenced by the 237.92% and 137.73% oversubscription of our Public Offer and Rights Issue respectively. As we go into the next phase of our capital raising drive, we reaffirm our commitment to providing cutting-edge financial solutions to our customers and sustainable returns to our stakeholders”, commented Dr Nneka Onyeali-Ikpe, OON, Managing Director and Chief Executive Officer, Fidelity Bank Plc.

The funds realised from this initial phase of capital raising will be deployed to local and international business expansion, enhancement of technology infrastructure and deepening customer service initiatives.

With the successful conclusion of the first phase of capital raising, the Board of Directors recently obtained the approval of shareholders to commence the second phase and is confident of meeting the new regulatory capital for banks with international authorisation before the CBN’s deadline of March 31, 2026.

Following the CBN’s publication of the revised minimum capital requirement for banks in March 2024, Fidelity Bank with its combined offer of June 2024, became the first financial institution undertake a public offer on the Nigerian Exchange Group.

From an offer price of N9.75 per share for the Public Offer and N9.25 per share for the Rights Issue in June 2024, the Bank’s shares traded at a high of N21.15 on February 7, 2025, a growth rate of over 116%, the highest for any financial institution in the banking industry.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 8.5 million customers through digital banking channels, its 251 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is the recipient of multiple local and international Awards, including the Export Finance Bank of the Year at the 2023 BusinessDay Awards; the Banks and Other Financial Institutions (BAFI) Awards; Best Payment Solution Provider Nigeria 2023; and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards. It was also recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023 and the Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

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