E-Financial
Zenith Bank Gets Regulatory Approval for Full Takeover of Paramount Bank

Zenith Bank, Nigeria’s second biggest lender by market value, has received approval from the Competition Authority of Kenya (CAK) to acquire 100 percent of Paramount Bank Limited, clearing a key regulatory hurdle in its East African expansion drive.

In a statement on Thursday, CAK said the transaction is “unlikely to lead to a substantial prevention or lessening of competition in the market for the provision of banking services in Kenya” and would strengthen Paramount’s financial position, helping it meet enhanced core capital requirements over the long term.
The Kenyan regulator noted that the deal poses no risk of reduced competition in the country’s banking sector. Zenith currently has no banking operations in Kenya, while Paramount is a Tier III lender with a modest 0.2 percent market share.
“The approval is based on the Authority’s determination that the transaction is unlikely to harm competition, while any negative public interest concerns regarding employment can be addressed through mitigating remedies,” CAK added.
Paramount met the Central Bank of Kenya’s KSh3.0 billion core capital requirement in November last year, reporting KSh3.118 billion after raising KSh332 million from shareholders, according to Mwango Capital, a Nairobi-based research firm.
The deal reflects a broader shift among banks in East Africa’s largest economy as lenders seek growth opportunities beyond increasingly saturated home markets marked by weak credit expansion, rising regulatory costs, and intense competition.
While several global banks — including Standard Chartered and HSBC — have scaled back African operations over the past decade, Zenith’s move signals confidence in selective regional expansion, particularly in East Africa, where economic growth and financial inclusion trends remain supportive.
The banking group is also widening its continental footprint. Last month, the lender disclosed plans to expand into Ethiopia, Africa’s second most populous country, as it targets generating up to half of its profits outside Nigeria over the medium term.
Historically, Nigeria, the continent most populous nation contributed as much as 90 percent of the bank’s earnings, a dominance that is now gradually easing.
Data cited by The Africa Report show that profit contributions from foreign subsidiaries rose to 27 percent in the first nine months of 2025, up from 14 percent in 2024.
Nigeria’s banking recapitalisation drive is also pushing large lenders such as Zenith to deploy capital beyond their home market. In January 2025, Zenith — which holds an international banking licence — raised N350.4 billion ($242 million), lifting its paid-up capital to N614.6 billion ($425 million).
With higher capital buffers in place, banks are reassessing how best to deploy fresh funds as domestic earnings normalise following two years of windfall gains.
As part of the approval, Zenith has been required to retain Paramount’s 78 employees for at least 12 months after the transaction is completed.
The bank is listed on the Nigerian and London stock exchanges and operates across corporate, commercial, retail, and investment banking. Its international subsidiaries span the United Kingdom, Ghana, Sierra Leone, Gambia, the UAE, and China.
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.
News3 days agoBuhari, SSG’s Signatures Forged to Defraud Nigeria of $6.2m in CBN – EFCC
General News3 days agoReliable Payment Rails Key to Financial Inclusion – TeamApt
News3 days agoCSCS Targets Market Leadership Through Technology, Diversified Revenue
General News3 days agoMTN Powers the Ultimate Youth Link-Up with the Launch of Live It 100 Youth Campaign
General News3 days agoEFCC Declares Tejuosho, City Boys Movement’s Women Leader Wanted over “419”
E-Business3 days agoAngst as FG Drops $32.8m Fine on Meta for Data Breach
General News3 days agoAfreximbank to Fund 3 New Refineries in Nigeria
Telecom2 days agoALTON Urges Urgent Resolution of Regulatory Dispute over Airtime Loans



















