E-Financial
Renaissance Capital Investors Conference Resounds Expectations from Buhari
Over 150 investors representing both global and frontier funds and 50 companies from across the African continent participating at the 3-day Renaissance Capital 6th Annual Pan-Africa 1:1 Investor Conference in Lagos, have re-echoed the thrust the incoming Muhammedu Buhari, president-elect’s, government should build its core values.
While recognizing that the outgoing government led by President Goodluck Jonathan should be remembered for checkmating the country’s debt profile, resulting in some positive economic outlooks in the current oil sector downturn, however, issues revolving around making corruption costly and unattractive, and robust private sector complemented by entrepreneurial and goal-oriented public sector, have become paramount in the present day economy.
In a keynote address, Professor Pat Utomi, a professor of Economics, said that the immediate challenge the incoming government should tackle is conserve the nation’s economic potentials and stimulate them to enable greater productivity.
Essentially, Utomi said it is investors’ hope that the new government will reinvent the sector like the mining and build clusters of industries around it; strengthen institutions, property rights, enabling environments and promote national strategy.
Such national strategy, he continued, will imply blocking all revenue leakages, increase productivity of available funds and creating values for money.
To articulate such, the Professor said that professional accountants should be involved to minimize expenses; diversify the nation’s economic bases, sectorially and geopolitically.
“Yes, we expect the incoming government, to stimulating the existing economic potentials of the country by way of improving revenue collection, extend the tax net, stimulate economic growth that will produce future tax; i.e., that creates regional competitiveness.
“The incoming government also needs to adopt new core values where emphasis of policies should move towards the well-being of the average citizens rather than special interest groups. On power sector, let there be a refocus on how to distribute power, because Nigerians are in dire need of power. Engage the power of the private sector for development.
“It is our honest expectation that sectors like power, infrastructure, finance & banking, SMEs, culture, ICT will be improved upon for even availability of service to the citizenry,” he said.
Professor Utomi also predicted that there will be an economic resolution in favour of the manufacturing sector.
The event by Renaissance Capital, a leading emerging and frontier markets investment bank, helps facilitate further investment in continent’s fast-growing markets by bringing together leading international investors and companies from across Africa.
Igor Vayn, chief executive officer, Renaissance Capital, said, “We are confident in the vast untapped development potential of African countries, fuelled by expanding economies and a growing consumer base. Since we first launched herein 2007, we have maintained our deep commitment to grow our presence on the ground. As markets have evolved and become more mature, we have broadened our offering in Africa”.
He added that going forward, Renaissance Capital will continue to develop its business in the continent to support the economic growth and facilitate further investment in Africa’s fast-growing markets.
According to Vayn, “This year, we bring the conference to Nigeria at a profoundly important moment for the country. The peaceful presidential election and transfer of power to Muhammadu Buhari are a testament to the success of the electoral process. The prospect of reforms by a new administration implies significant upside potential for Nigeria over the medium term. We think Nigeria is at the cusp of a recovery, and the low oil price combined with a change in the government provides the best investment opportunity in years.”
Renaissance Capital’s “Frontier and emerging markets: Reform awakens” report issued last week once again proves the increasing strength of African markets and highlights the breadth of opportunities the continent presents.
Charles Robertson, global chief economist at Renaissance Capital, noted thus, “We see great long-term potential across Africa, particularly, in Nigeria, Kenya and Egypt.”
“We believe Nigeria will be a trillion dollar economy by 2025 and it will keep doubling in size every 10 years. GDP per capita is likely to reach around $15,000 by 2050. Following the April elections, the new government represents the best opportunity in recent years to push forward reform for Africa’s largest economy.”
The three-day conference will host over 1,000 one-on-one meetings and dedicated sector site visits, including to Ghana.
Founded in 1995, Renaissance Capital is a leading emerging and frontier markets investment bank with operations in Russia, Eastern Europe, the Middle East, Asia and Africa, and offices in major financial centres, such as London, New York and Dubai.
It has established market-leading positions in each of its core businesses – M&A, equity and debt capital markets, securities sales and trading, research and derivatives.
The Firm continues to build its practices in metals & mining, oil & gas and agriculture across its target markets. Renaissance Capital is part of ONEXIM Group.
Central Bank of Nigeria (CBN) has said that the cost of issuing or replacing a standard debit or credit card will rise by 50 percent to about N1,500, up from about N1,000.
The new charge is contained in the Exposure Draft of the Guide to Charges by Banks and Other Financial Institutions in Nigeria, 2026, released by the Central Bank of Nigeria.
The draft followed a circular issued to banks, other financial institutions and the public, dated April 21, 2026, and signed by Rita I. Sike, director, Financial Policy and Regulation Department.
Under the revised guide, issuance and replacement of regular or basic debit and credit cards will attract a N1,500 fee, while charges for premium debit, credit or hybrid cards will be negotiable.
In the 2020 guide, debit card charges were fixed at N1,000 as a one-off fee for issuance, replacement of lost or damaged cards, and renewal upon expiry, applicable across all card types.
The CBN said the review is part of its mandate to promote a safe and sound financial system, accelerate the adoption of innovative financial services, and enhance financial inclusion, particularly in micropayments and transactions.
According to the regulator, the revised guide expands the range of financial services, encourages innovation, strengthens oversight and accountability, and promotes financial inclusion through lower tariffs for micropayments. It also updates certain banking charges to support increased use of electronic channels and accommodate new industry participants since the 2020 version.
The apex bank said the draft has been exposed to the public for comments and input on the proposed fees, with submissions expected via [email protected] on or before May 08, 2026.
The guide provides a framework for the application of charges, including fees and rates, on products and services offered by financial institutions in Nigeria. It applies to all institutions licensed or regulated by the Central Bank of Nigeria.
The charges, according to the regulator, were developed following extensive consultations with stakeholders and are aimed at enhancing flexibility, standardisation, transparency and competition in the financial system.
It added that where charges are designated as negotiable, financial institutions must inform customers of their right to negotiate at the start of transactions and reach mutual agreement on applicable fees through verifiable means.
Where limits are specified, charges must not exceed the prescribed maximum or fall below the minimum.
The apex bank noted that the guide is not exhaustive and that financial institutions must seek prior approval before introducing new products, services or charges not covered.
The framework applies to a wide range of institutions, including commercial banks, merchant banks, payment service banks, non-interest banks, microfinance banks, finance companies, primary mortgage banks, development finance institutions, credit guarantee companies, mobile money operators, and other institutions designated by the regulator.
In line with existing consumer protection regulations, the apex bank said non-credit charges can only be applied to the extent of the available account balance, with any outstanding fees deferred until the account is funded. Such deferred charges will not attract interest.
The guide is to be read alongside the relevant guidance notes and glossary provisions and will supersede the 2020 version when it takes effect on May 1, 2026.
ProvidusBank Plc has commissioned a new branch in Ado-Ekiti, advancing its expansion strategy across Nigeria’s high-growth markets while leveraging its compliance with the Central Bank of Nigeria’s (CBN) recapitalisation directive since January 2025.
ProvidusBank
The move aims to enhance financial inclusion, support local enterprises, and deliver banking services closer to communities and businesses.
At the event, Executive Director/Chief Financial Officer, Deoye Ojuroye, described the rollout as part of a 12-month plan to bolster the bank’s nationwide presence.
“Our approach is deliberate—we are growing in the right places, supporting real economic activity, and building a bank that is both resilient and responsive to customer needs,” Ojuroye said.
He emphasised the bank’s robust capital and risk management, stating: “We are well capitalised within our regulatory category, giving us confidence to expand responsibly while aiding businesses and communities.”
ProvidusBank plans further branches in strategic locations over the next year, underscoring its focus on scalability, accessibility, and sustainable growth as a trusted partner for individuals and enterprises.
E-Financial
Fidelity Bank Bolsters SME Growth with April Masterclass Series on Pricing, Digital Tools, Global Trade
Fidelity Bank Plc has launched a series of high-impact masterclasses in April 2026 to empower Nigerian Small and Medium Enterprises (SMEs) with practical skills for pricing, digital expansion, and international growth.
Fidelity Bank
The initiative aligns with the bank’s drive to boost SME operational efficiency and market access amid Nigeria’s economic challenges.
The flagship session, “Pricing That Works: How to Charge Right and Earn More,” took place on April 10 at the Fidelity SME Hub in Gbagada, Lagos. It drew about 100 entrepreneurs from diverse sectors, offering insights into costing, value-based pricing, pricing psychology, and customer perception to ensure profitable, customer-friendly strategies.
Buoyed by positive feedback, the bank rolled out three more sessions. The second, “Baking Masterclass: From Kitchen to Cashflow,” ran on April 14 and 15, providing hands-on training for bakers and food businesses to enhance product quality and profitability.
Divisional Head, SME Banking, Ugochi Osinigwe, stated: “At Fidelity Bank, we believe that when SMEs succeed, the economy grows. That is why we have curated masterclasses on pricing, product improvement, online sales, and global expansion to equip entrepreneurs with immediate, actionable tools.”
She highlighted the series as part of broader SME support via the Fidelity SME Hub, including advisory services, funding, and nationwide programmes. The bank recently earned the Best Retail and SME Bank Award from Independent Newspapers.
Upcoming events include “Grow Online Sales on a Budget” today, April 24, focusing on low-cost digital strategies for visibility and sales; and “Take Your Business Global: One-on-One Trade Advisory” on April 29, covering export readiness, payments, markets, and compliance.
Fidelity Bank, ranked among Nigeria’s top lenders, serves over 10 million customers via 255 branches, digital platforms, and its UK subsidiary, FidBank UK Limited. It has clinched awards like the 2024 Excellence in Digital Transformation & MSME Banking from BusinessDay BAFI Awards, Most Innovative Mobile Banking App from Global Business Outlook, Best Bank for SMEs from Euromoney, and Export Financing Bank of the Year from BusinessDay BAFI.
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