E-Financial
Access Bank Recommend Ways Toward Achieving SDG
Dr Gregory Jobome, the executive director, Risk Management Division, Access Bank Plc, has called for the adoption of a range of non-traditional mechanisms to raise additional funds for development aid.
Jobome made this known while addressing delegates at the 1st World Development Finance Forum (WDDF). Jobome provided insights on the scale of financing required for post-COVID-19 development, providing the perspective of commercial banking.
Likewise, he shared thoughts on building synergy between government, regulators and commercial banks to strengthen the economy of Nigeria and the financial sector.
Commenting on the importance of developing a common and universally accepted framework to address fundamental funding issues, he said: “There is a differential capacity in the ability of advanced and developing countries to cope with the effects of COVID-19. Also, there is a multi-speed factor in the ability of countries to recover economically from the crisis.
“This differential ability means that we must have the capacity to bring together all the different speeds – the fast-paced economies must unify with those that are slower paced and those with unique conditions must work together with those who do not have those peculiar circumstances. This is one way to truly optimise our response capacity and make the most of globalisation.”
As a sustainability-focused event, WDFF 2020 brought together various stakeholders for financing development in the aftermath of the outbreak of the pandemic. Governments, central banks, commercial banks, development finance institutions, large-scale microfinance banks, and the international development sector were represented on the high-level panel.
According to Jobome, domestic funds mobilisation would reduce the cost burden by international organisations noting that commercial banks can take a cue from Access Bank’s execution of the first-ever Climate Bonds Initiative (CBI) certified corporate Green Bond in Africa.
“In addition to the funding of the Bond fully mobilised domestically, our issuance also served as the pioneer green bond cross-listed on the Nigerian and Luxembourg Stock Exchanges,” he stated.
Other panellists at the forum are Arshad Rab, CEO, European Organisation for Sustainable Development; Honourable Matia Kasaija, Minister of Finance, Planning and Economic Development, Republic of Uganda; Jesimen T. Chipika, Deputy Governor, Reserve Bank of Zimbabwe; and Romani de Silva, Deputy Chairman and CEO, Alliance Finance Corporation, Sri Lanka.
Kuda Microfinance Bank partnered with Lovers & Frnds for a Valentine’s edition event on Sunday, February 15, at Space Hub Lekki, Lagos, redefining celebrations around love, friendship, and social connections beyond romance.
Kuda Bank
The R&B-themed gathering drew couples, friend groups, and solo attendees with music sets from DJs like TGarbs, games, gift exchanges, and colour-coded tags—red for relationships, yellow for mingling singles, orange for non-minglers—to spark easy interactions.
Kuda activated a branded photo booth, merchandise giveaways, prize activities, and complimentary drinks for Premium loyalty tier customers, while vendors used Kuda Business POS terminals for seamless cashless payments.
Senior Brand Manager Emmanuel Femi-Adejobi said: “We partner with experiences matching our customers’ lifestyles in music and entertainment, creating spaces they genuinely connect with—we’ll keep supporting how they live and celebrate.”
By Mathew Anthony, Market Analyst at FXTM
In another positive development for Nigeria, the CBN has proceeded with 50-basis points rate cut.
FXTM Logo
With favourable fundamental forces at play, it was always a question of how much rather than if rates will be cut in February.
Although some were expecting a hefty 100-basis point cut, this was still a positive move by the CBN, mirroring the dovish strategy of other major banks on the continent.
Interest rates were slashed thanks to cooling inflationary pressures, a stronger Naira and rising FX reserves.
This move is likely to boost confidence over the economic outlook ahead of the Q4 GDP report scheduled for release later this month.
Central Bank of Nigeria (CBN) has lowered its Monetary Policy Rate (MPR) by 50 basis points to 26.50 percent from 27 percent, a unanimous decision announced by Governor Olayemi Cardoso at the end of the 304th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.
CBN
Cardoso cited 11 straight months of decelerating headline inflation—reaching 15.10 percent in January 2026 per National Bureau of Statistics—as key, driven by prior tightening lags, naira stability, food supply gains, steady petroleum prices, export earnings, remittances, and balance of payments strength.
Liquidity ratio stays at 30 percent, CRR unchanged at 45 percent for commercial banks (16 percent merchant banks) and 75 percent non-TSA public deposits; standing facilities corridor now +50/-450 basis points around MPR.
The MPC retained other parameters, welcoming Executive Order 09 redirecting oil/gas revenues to the federation account for fiscal boost, last cutting rates in September 2025 after November’s hold.
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