E-Financial
Stakeholders Converge at the Maiden International Financial Inclusion Conference, Lead Conversations on Financial Inclusion

Nigeria, on 24th and 25th November 2022 hosted the largest convening of the global Financial Inclusion ecosystem since the launch of its National Financial Inclusion Strategy in 2012.

L-R: Lai Mohammed CON, Minister of Information and Culture; Godwin Emefiele, Governor of the Central Bank of Nigeria; Alhaji Mohammed Musa Bello CON, Minister of the Federal Capital Territory, Nigeria and Aishah N. Ahmad, CFA– Deputy Governor, Central Bank of Nigeria and Philip Yila Yusuf, Director, Development Finance Department, Central Bank of Nigeria at the maiden edition of the International Financial Inclusion Conference 2022, which was held at Transcorp Hilton hotel Abuja on Thursday, November 24th, 2022.
The 2022 International Financial Inclusion Conference organized by the Central Bank of Nigeria (CBN) and its partners within the financial inclusion governance committees themed: “Financial Inclusion for all: Scaling Innovative Digital Models” had in attendance over 5000 participants from at least 78 countries around the world.
Among the major dignitaries in attendance were His Excellency, President Muhammadu Buhari (GCFR), who was represented by the Honorable Minister of the Federal Capital Territory, Mallam Mohammad Musa Bello (CON); United Nations Secretary-General Special Advocate (UNSGSA) on Inclusive Finance, Queen Maxima of the Netherlands; Secretary to the Government of the Federation, Mr. Boss Mustapha; the Honorable Minister for Communication and Digital Economy, Professor Isa Pantami; the Honorable Minister of Women Affairs, Dame Pauline Tallen; the Honorable Minister for Information and Culture, Mr. Lai Mohammed; the Governor of the CBN, Mr Godwin Emefiele, and Dr Kayode Fayemi, former Chairman of the Nigerian Governors Forum and former Governor of Ekiti State.
Also in attendance were financial sector regulators such as the Chairman of the Securities and Exchange Commission, Mr. Femi Lijadu; Managing Director of the NDIC, Mr Hassan Bello; the Commissioner of NAICOM, Mr Sunday Thomas; Board Members of the Central Bank of Nigeria, and the Chief Executive Officer of Brittania-U Nigeria Limited, Mr. Uju Ifejika, amongst others.
During the conference, attendees witnessed the launch of 7 key policies and products that would enable the achievement of 95% Financial Inclusion in Nigeria by 2024 such as the revised National Financial Inclusion Strategy (3.0), the Strategy for Leveraging Agent Networks for Women’s Financial Inclusion, the National Fintech Strategy, the Payment System Vision (PSV) 2025, the Nigeria Financial Services Maps, the CBN Regulatory Sandbox and a Fintech Bridge between the Central Bank of Nigeria and the Central Bank of Egypt.
Giving a keynote address during the conference, the Governor Central Bank of Nigeria – Mr. Godwin Emefiele who chairs the National Financial Inclusion Steering Committee pointed to CBN’s long-standing effort to achieve the financial inclusion targets through creating enabling environments and providing supports.
He said, “From 2012 to date, over 59 policies and initiatives have been implemented by stakeholders to achieve the objectives of financial inclusion.
“These policies and initiatives cut across the banking sector, the insurance sector, the capital market sector and the institutions responsible for infrastructural development for financial inclusion in Nigeria.
“We have prioritized financial inclusion through our invention for over four million smallholder farmers and SMEs creating over two million jobs. By the end of 2024, we aim to be at 95% rate of financial inclusion in Nigeria”.
The Deputy Governor, Financial System Stability, CBN, Mrs. Aishah N. Ahmad, CFA in her welcome remarks highlighted that the conference was holding at a critical time in Nigeria’s Financial Inclusion journey. “Nigeria is indeed at an important tipping point for financial inclusion.
“At no time has there been a prevalence of an enabling regulatory environment, proliferation of digital technology, innovation and collaborative platforms between the public and private sector – all strategic levers required to scale financial inclusion in Nigeria”. In her engaging plenary session, she also stressed the role of policy making in advancing Financial Inclusion in Nigeria.
In a special keynote address by the United Nations Secretary-General Special Advocate (UNSGSA) on Inclusive Finance – Her Majesty Queen Maxima of the Netherlands highlighted the role to be played by the new National Financial Inclusion Strategy in providing a genuine chance for improving livelihoods, such as strategies leveraging the National Insurance Number, Bank Verification Number amongst other policies
The conference featured nine plenary sessions including Scaling Digital Models for the Last Mile, Catalyzing Global Partnerships for Financial Inclusion, Country Experiences, Expert Dialogue on Women’s Financial Inclusion, Fostering Partnerships for Inclusive growth amongst others. Four breakout sessions focused on Digital Infrastructure, Data Privacy & Consumer Protection, Deepening Digital Financial Services and Strategies for reaching Youth & Rural Areas.
Speakers cut across global policy makers and business leaders including Dr Alfred Hannig, Executive Director AFI, Ambassador Chad Blackman, Special Adviser to the DG ILO, Mrs Elsie Addo- Awadzi, Deputy Governor, Bank of Ghana, Mr Folashodun Shonubi, Deputy Governor Operations, CBN, Mr Herbert Wigwe, Managing Director, Access Corporation and Professor Olayinka David-West of Lagos Business School, etc
The IFIC 2022 conference agenda included the first Financial Inclusion Awards Dinner themed ‘Celebrating Champions of Inclusion’. Nine (9) deserving institutions and one individual were recognized for their contributions to advancing financial inclusion in Nigeria through a rigorous nomination and selection process superintended by Price WaterHouse Coopers (PWC).
The winners included Enhancing Financial Innovation and Access (EFINA) who won the Financial Inclusion Innovation Award and Access Bank and Jaiz Bank who won the national women’s financial inclusion award and the inclusive bank of the year award respectively. TeamApt, Remita, Interswitch, E transact, Lapo MFB and Ms Modupe Ladipo also took away awards.
The conference also showcased 20 fintech and start up companies at its Innovation Labs exhibition focusing on various solutions targeted at facilitating payments, digitizing informal financial services platforms and bridging the financial inclusion gap.
E-Financial
Fidelity Bank “Basking in Approval” under Onyeali-Ikpe, CEO

Fidelity Bank Plc is basking in endless and stakeholders are happy.

Dr. Nneka Onyeali-Ikpe, managing director and chief executive officer, Fidelity Bank Plc
With nearly 10 million customers, Fidelity Bank is demonstrating excellent market traction.
This a crucial evidence for investors that the bank is solution driven.
For instance, at the capital market, the bank was the toast of investors as its market value surged amid bargain hunting on the Nigerian Exchange, with investors gaining more than 11 percent after few days of tradings last week only.
Fidelity Bank’s share price increased to N22.30 at the close of the market last Friday, as 11.227 million units valued at N251.523 million.
Investors are simply reacting positively to strong earnings, technology-driven growth, and strategic expansions.
Fidelity Bank, emerged a more robust financial institution after the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) ordered massive banking recapitalization exercise.
Dr. Nneka Onyeali-Ikpe, managing director and chief executive officer, Fidelity Bank Plc, is being credited for driving these exceptional shareholder value, operational performance, and sustainable growth.
Despite the immense responsibility and intense pressure, especially during turbulent times, Onyeali-Ikpe, has been strutting her stuff by strategic vision and exemplary leadership.
Onyeali-Ikpe has built Fidelity Bank as beacon in the banking industry underpinning the bank with trust, innovative technology, strategic growth, and strong leadership as well as reputation.
She has broken every glass ceilings delivering milestones and solid imprints in the annals of banking.
The bank only recently completed CBN-verified share allotment, hitting N532 billion capital.
This heavy chest now guarantees the bank long-term stability, and enabling it operate with speed.
Since appointment on January 1, 2021, Onyeali-Ikpe, has-anchored the bank on bespoke digital, financial, and technology-driven tools designed to enhance customer experience.
By integrating AI, automation, and advanced data analytics, Fidelity Bank is today delivering solution banking.
Under Onyeali-Ikpe’s leadership, the bank has significantly improved brand equity.
Fidelity Bank also announced the completion of the acquisition of a 100 per cent stake in Union Bank UK, under the CEO.
A recent Brand Finance report ranked Fidelity Bank as the fastest-growing Nigerian brand, with its brand value more than tripling.
Onyeali-Ikpe was also named among the 2024 Most Influential Global Top 100 Export and International Trade Leaders, recognizing her contribution to expanding Nigeria’s trade and export financing capabilities.
Under her, Fidelity Bank has received multiple awards, including Export Finance Bank of the Year (2023 BAFI Awards), Best Payment Solution Provider Nigeria 2023, and Best SME Bank Nigeria 2022 (Global Banking and Finance Awards).
The bank was also recognized by Euromoney for Best Bank for SMEs (2023) and Best Domestic Private Bank in Nigeria (2023).
Onyeali-Ikpe will be leaving as head of the bank this year but her record of placing the institution upward trajectory will be indelible.
She may be leaving “big shoes to fill” because of her high-energy, infectious positivity which made her successful in everything she does.
E-Financial
FCMB, BHM Champion New Revenue Models for Media Sustainability

First City Monument Bank (FCMB), in partnership with BHM, hosted the pilot edition of The Monetised Content Masterclass, bringing together reporters, content creators and editors to address growing pressure on the sustainability of newsrooms and media platforms.

L-R: Adeola Adejokun, Head, Communications, First City Monument Bank; Chris Ihidero, Award-winning Director and Producer; and Diran Olojo, Divisional Head, Corporate Affairs, First City Monument Bank, during the Monetised Content: A Media Masterclass Presented by FCMB and BHM, in Victoria Island. Lagos on Monday, April 20, 2206.
The session comes at a time when traditional advertising revenues are declining for news publishers, even as Nigeria’s entertainment and digital media market continues to grow and is projected to reach $4.9 billion by 2026.
Against this backdrop, the masterclass focused on practical ways for media organisations, independent content creators, and digital platform owners to diversify income, build financial resilience, and sustain editorial independence and integrity.
Participants explored revenue opportunities beyond traditional advertising, including brand partnerships, digital content monetisation, and audience-led models. The one-day session featured panel discussions, Q&A sessions, and peer exchanges designed to translate industry trends into practical action.
Speaking at the event, Divisional Head, Corporate Affairs, FCMB Group, Diran Olojo, said: “Traditional models are under pressure, and attention is more fragmented than ever. The focus now is on building structured, sustainable platforms that can deliver both impact and long-term value.”
Also speaking, CEO and Founder of BHM, Ayeni Adekunle, said: “The economics of media have changed. For journalism to remain independent, it must also become financially resilient. That shift requires new thinking and deliberate action.”
The session was moderated by Fatu Ogwuche, Founder and CEO of Big Tech This Week, and featured speakers including investigative journalist Fisayo Soyombo, storyteller and producer Chris Ihidero, executive and storytelling expert Jennifer Mairo, and digital media entrepreneur Peter Oluka.
The initiative reflects a shared commitment by FCMB and BHM to support the long-term sustainability of the Nigerian media ecosystem through capacity building and industry collaboration.
E-Financial
CRMI Backs CBN’s New Measures to Curb Fraud

Chartered Risk Management Institute of Nigeria (CRMI) has backed recent regulatory measures by the Central Bank of Nigeria (CBN) aimed at strengthening the security of the country’s digital financial ecosystem, while urging stricter compliance across the banking industry.

Kevin Ugwuoke, president and chairman of Council, in a statement, described the new framework as a timely and proactive response to rising risks such as fraud, identity theft, and unauthorised access within the instant payment system.
He noted that key safeguards introduced by the apex bank including a N20,000 transaction limit on newly activated mobile banking applications within the first 24 hours, mandatory device binding, and real-time enterprise fraud monitoring are designed to reduce vulnerabilities associated with account takeovers, especially during the early stages of account activation.
“By limiting transaction exposure during the high-risk activation window, the framework significantly reduces the opportunity for fraudsters to exploit newly onboarded or compromised accounts,” Ugwuoke said.
The institute, however, stressed that the success of the measures would depend largely on effective implementation.
It called on banks, fintech firms and payment service providers to strengthen cybersecurity infrastructure, invest in fraud analytics and prioritise staff training as well as customer awareness.
CRMI also welcomed the introduction of the Nigerian Overnight Financing Rate (NOFR), describing it as a major step toward standardising overnight funding rates, deepening financial markets and improving monetary policy transmission in line with global best practices.
The endorsement comes as the CBN unveiled a draft revised Guide to Charges for Banks and Other Financial Institutions, 2026, signalling a broader shift toward transparency, consumer protection and efficiency in the financial system.
The revised guide introduces caps on key banking charges and mandates stricter disclosure requirements.
Under the framework, interbank transfers between N5,000 and N50,000 are capped at N10, while transactions above N50,000 attract a maximum of N50, with transfers below N5,000 remaining free.
The apex bank also standardised ATM withdrawal charges, pegging fees at N100 per N20,000 for on-site withdrawals from other banks’ machines, while off-site transactions may attract an additional surcharge of up to N500, subject to disclosure at the point of use.
In a bid to protect borrowers, the regulator directed that all lending rates be presented as Annual Percentage Rates (APR), ensuring full disclosure of interest and associated fees.
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