E-Financial
LAPO MFB’s Solid Support for Nigerian Women and Widows
By Bola G Ajayi
It’s no exaggeration to say that gender equity is inscribed in the very DNA of LAPO Microfinance Bank and the other components of the LAPO Group.
The first beneficiaries of this multi-faceted institution, long before the advent of the current wave of feminism, were three women entrepreneurs who were supported with friendly loans in the early 1980s by LAPO founder Godwin Ehigiamusoe, then a young staff of the Cooperative Department of the old Bendel State.
Since then the LAPO Group has consolidated this foundational focus by giving women and girls pride of place in its plans.
This women-friendly focus is not an act of charity. Rather it is a practical expression of the wisdom captured in the words of Director General of the World Trade Organization (WTO), Dr Ngozi Okonjo-Iweala: “Investing in women is smart economics, and investing in girls, catching them upstream, is even smarter economics.”
The truth in this statement is self-evident. In all aspects of its corporate strategy and execution, LAPO MFB takes this to heart.
This is because women are responsible for about 70% of food production in Africa and also constitute a significant proportion of the entrepreneurial class. Experts have estimated that 40% of entrepreneurs in Africa are female.
A study by the Cherie Blair Foundation captures the centrality and importance of women in the economic life of societies across the world:
“UNDP studies have shown that when women control cash from businesses it is more likely to be used in child survival and other human development issues. Therefore when more and more women engage in entrepreneurial activities they increase productivity and contributions to their local economies and promote development with social stability. Thus, there is need for governments and communities to recognize the unavoidable link between women’s economic empowerment and the national economic development of a country.”
Women entrepreneurs are of course key beneficiaries of all LAPO MFB initiatives targeted at supporting enterprise in different sectors of the economy.
But they also benefit from specific bespoke initiatives designed specifically for women. An example is Supporting Female Entrepreneurs (SUFEN).
This product is a loan scheme whose purpose to enhance the business potential of female clients through access to finance and capacity building.
The broad objective is to support and promote the economic growth and advancement of women entrepreneurs in Nigeria. The goal is to accelerate the growth and success of women owned businesses through capacity building workshops and seminars, high-level networking events, leadership development programs, entrepreneurial training programs, mentoring, and business support services.
Expectedly, one category of women who are prime beneficiaries of LAPO MFB products and other initiatives are widows who are recipients of the institution’s entrepreneurial and charity support.
According to a World Bank report, nine percent of Nigerian women are widows. That translates to almost 10 million women – a significant population.
And they constitute a vulnerable population because of economic difficulties caused by and exacerbated by negative cultural practices such as retrogressive and cruel inheritance practices.
The poor plight of widows in Nigeria is well documented as the same World Bank report observes:
“The mistreatment of widows is a grave and recognized concern as evidenced by the many Nigerian- based NGOs focusing on the rights of widows and by special modules in the most recent Demographic and Health Surveys (DHS) concerning violence and dispossession following a husband’s passing. Over 42 percent of Nigerian widows are found to be completely dispossessed.”
Against this background, the significant and sustained support of LAPO MFB to women entrepreneurs and by extension, Nigeria’s hardworking widows, certainly deserves acknowledgement and support.
*Ajayi is a policy and development analyst
E-Financial
First Securities Brokers Empowers Nigerians to Trade in the Stock Market with the Launch of FirstInvest App
First Securities Brokers, one of Nigeria’s leading stockbroking firms and a subsidiary of FirstHoldCo Plc, is pleased to announce the official launch of the FirstInvest App, an innovative mobile investment platform designed to make stock market investing simpler, faster, and more accessible for Nigerians.
The FirstInvest App offers investors a seamless digital experience, enabling them to open and manage their investment accounts, monitor their portfolios, and trade equities listed on the Nigerian Exchange (NGX) directly from their mobile devices.
Designed with both new and experienced investors in mind, the platform combines convenience, security, and ease of use to help users make informed investment decisions anytime and anywhere.
As Nigeria continues to embrace digital financial services, the FirstInvest App reinforces First Securities Brokers’ commitment to driving financial inclusion and expanding access to wealth creation opportunities through technology.
Speaking on the launch, Fiona Ahmed Ahimie, Managing Director of First Securities Brokers, said: “The launch of the FirstInvest App represents another significant milestone in our digital transformation journey and our commitment to delivering innovative investment solutions to our clients.
“We understand that today’s investors value convenience, speed, and accessibility. FirstInvest has been developed to provide exactly that: a secure and intuitive platform that empowers individuals to participate confidently in the capital market from wherever they are.”
She added: “Our goal is to remove the traditional barriers associated with investing by placing the power of timely investment and decision making in the stock market directly in the hands of Nigerians. Whether you are taking your first investment step, actively managing your portfolio or just evaluating your investment, FirstInvest provides the tools and flexibility needed to support your financial aspirations.”
The app delivers a range of features designed to enhance your investing experience, including: Secure digital account opening and onboarding, Real-time access to investment portfolios, Buy and sell Nigerian equities with ease, User-friendly trading interface, Secure transaction processing, Convenient access to market information and investment opportunities.
The launch of FirstInvest aligns with First Securities Brokers’ broader strategy of leveraging technology to improve customer experience while supporting the growth of retail participation in Nigeria’s capital market.
First Securities Brokers remains committed to providing trusted investment advisory services, innovative financial solutions, and exceptional customer service, helping clients build and preserve wealth across generations. The FirstInvest App is now available for download on the Google Play Store and the Apple App Store.
The next currency crisis could accelerate the shift of the roughly $315 billion global stablecoin market into a digital-dollar alternative for citizens in emerging economies, notably in regions like sub-Saharan Africa and Latin America.
As local fiat currencies face devaluation and high inflation, citizens and businesses are increasingly utilizing smartphone-based stablecoins (such as USDT and USDC) as hedges and primary mediums of exchange.
According to the International Monetary Fund (IMF), the rapid adoption of dollar-linked digital assets—particularly in countries heavily affected by inflation like Nigeria—poses significant risks to monetary sovereignty.
With up to 95% of surveyed individuals in some African markets preferring to receive payments in stablecoins over local fiat, the rising volume of these decentralized, cross-border channels weakens domestic currency demand and dilutes the effectiveness of local monetary policy.
IMF observed in a report titled “Stablecoins in Nigeria: A Growing Cross-Border Channel” noted that the widespread use of stablecoins poses risks to monetary sovereignty, particularly as more individuals and businesses turn to digital dollar-linked assets for savings and transactions.
Nodding in agreement is Future Investment Initiative Institute (FII Institute), a non-profit organisation run by the Public Investment Fund, Saudi Arabia’s main sovereign wealth fund.
FII Institute said that central banks face structural challenges.
And according to the institute, when citizens move savings out of national banks and into private digital wallets, conventional capital controls lose their grip.
Institutions like the Bank for International Settlements warn that interest-bearing stablecoins compete directly with domestic-currency deposits, complicating financial oversight and making smartphone-based transfers incredibly difficult for authorities to monitor.
In Nigeria, Naira depreciation has pushed users toward dollar-stablecoins, according to report by Gino Matos in cryptoslate.com.
A stablecoin is a type of cryptocurrency designed to maintain a steady value by pegging its price to a reserve asset, such as a fiat currency (e.g., the U.S. dollar) or a commodity (e.g., gold).
They act as a bridge between traditional money and the digital asset world, providing the speed of crypto without the extreme price swings of assets like Bitcoin.
Federal government has reopened three federal government of Nigeria (FGN) bond issues valued at N1.2 trillion for subscription as part of efforts to raise long-term funds from the domestic debt market.
The Debt Management Office (DMO), which announced the offer on Tuesday, said the three reopened bond issues are each valued at N400 billion.
According to the DMO, the first offer is the January 2035 FGN Bond, a 10-year reopening, carrying an interest rate of 22.60 per cent per annum.
The second is the May 2028 FGN Bond, a 15-year reopening, with a coupon rate of 15.45 per cent per annum, while the third is the June 2037 FGN Bond, a 20-year reopening, also valued at N400 billion.
The office said the bond auction is scheduled for July 20, while successful subscriptions will be settled on July 22.
It explained that the bonds are offered at N1,000 per unit, with a minimum subscription of N50 million and additional investments in multiples of N1,000.
For the reopened bonds, the DMO said successful bidders would pay a price based on the yield-to-maturity that clears the auction, in addition to any accrued interest on the instruments.
Interest on the bonds will be paid every six months, while the principal will be repaid in full on the respective maturity dates.
The DMO reaffirmed that FGN bonds are backed by the full faith and credit of the Federal Government and constitute obligations chargeable on the general assets of the federation.
It added that the bonds qualify as trustee investment securities under the Trustee Investment Act and enjoy tax exemptions for eligible investors, including pension funds, under the Company Income Tax Act and Personal Income Tax Act.
The bonds are listed on the Nigerian Exchange (NGX) and FMDQ Securities Exchange and also qualify as liquid assets for banks in computing their liquidity ratios.
FGN bonds are long-term debt instruments through which investors lend money to the Federal Government in exchange for periodic interest payments and repayment of the principal at maturity.
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