E-Financial
ALAT Rewards 71 More Lucky Customers in the 5for5 Draws
ALAT by Wema, Nigeria’s fully digital bank, has continued to reward customers for their loyalty as it races to the grand finale of its nationwide 5for5 promo. Another set of 71 customers emerged as the latest winners in the 5for5 promo at the February monthly draw in Kano on Thursday, March 10, 2021.
L-R – Representative of the Federal Competition and Consumer Protection Commission (FCCPC), Aliyu Ibrahim Ahmed; 5for5 promo million naira winner for February, Mohammad Garamba Husseini; North Regional Manager, Wema Bank, Aisha Musa and Representative of the National Lottery Regulatory Commission, Engr H.H Gaya presenting the One million Naira Cheque during the promo draws held in Kano last week.
The new winners joined 497 other customers who have been rewarded in the 5for5 promo since July 2021.
Muhammad Garamba Husseini, the one-million-naira winner for January announced at the raffle draw held in Port Harcourt earlier, received his cheque in Kano. The Adamawa-based business owner excitedly thanked the bank for providing much-needed funding for his business, as he oscillated between Hausa and English.
“I am grateful to ALAT and Wema Bank for this opportunity,” Muhammad said. “They not only made me a millionaire, but they also took care of my transport from Adamawa and my accommodation here in Kano. Many people will not care about you that way. I pray God rewards them for all their efforts.”
The February winner of the one-million-naira grand prize, Precious Ada Agwu, was also announced during the cheque presentation. Ada Agwu is a resident of Ogun state and will be presented with her cheque next week.
The representative of the Federal Competition and Consumer Protection Commission (FCCPC), Aliyu Ibrahim Ahmed, attended the 8th 5for5 promo draw ceremony. Also in attendance was the representative of the National Lottery Regulatory Commission, Engr H.H Gayalong, along with other dignitaries.
Speaking at the draw, Aisha Musa, Zonal Manager, Wema Bank Plc, stated, “We launched the 5for5 promo to reward loyal customers and encourage others to bank with us.
“We also aim to educate customers on various ways they can operate their Wema Bank account using functions such as the USSD code and the ALAT digital banking platform rather than visiting a physical bank.
“So far, our customers have supported us, and we are reciprocating their loyalty with this promo and other activities that we have planned across the year.”
The Kano draw ceremony is the eighth and penultimate draw for the 5for5 promo. The grand finale is set to hold in April, with the last set of 71 winners to be selected. After this, there would be a total of 639 winners of the nationwide savings promotion.
Launched in July 2021, the 5for5 promo rewards Wema Bank/ALAT customers for their loyalty. According to the bank, every customer who makes at least five transactions in a month and maintains a balance of at least ₦10,000 stands a chance to win a share of the ₦31.5million earmarked as prize money for the season.
ALAT has built a customer base of over 600,000 customers in the past four years, investing over ₦2 billion in various youth-oriented initiatives such as Hackaholics, Food Challenge, Talk Series, SociaLiga, and many more since its launch.
Keystone Bank Limited and the Enterprise Development Centre (EDC) of Pan-Atlantic University have signed a landmark Memorandum of Understanding (MoU) to promote Small and Medium Enterprises (SMEs), youth entrepreneurship, and financial inclusion across Nigeria.
The MoU signing ceremony took place at the bank’s head office in Lagos on Tuesday, June 24, 2025.
Speaking at the event, Mrs Nnenna Anyim Okoro, the Executive Director, Corporate and South, Keystone Bank, described the partnership as a bold and strategic step toward accelerating national economic transformation.
According to her, the collaboration underscores Keystone Bank’s unwavering commitment to empowering the next generation of business leaders and fostering an inclusive financial ecosystem.
“At Keystone Bank, we believe that entrepreneurship is the heartbeat of sustainable economic development.
Across Nigeria, MSMEs are not just businesses; they are the dreams and daily struggles of men and women determined to create value, provide jobs, and build a better future. They are, quite literally, the engine room of our national economy.
“Our sponsorship of the Annual EDC SME Conference 2025 and support for the Global Entrepreneurship Week (GEW) Walk reflect our deep belief in the transformative power of small businesses.
“This partnership is also about financial inclusion, youth engagement, capacity building, job creation, and collaboration,” she stated.
Olayemi Sule, Group Head, Retail & Digital Banking, Keystone Bank, emphasized the innovative offerings customers can expect as a result of the partnership.
“Our customers should look forward to a suite of innovative financial products and digital solutions specifically designed to support business growth, enhance financial literacy, and improve market access.
Also speaking, Dr. Nnenna Ugo, EDC board member and Head, Alumni Relations and Support Services at Pan-Atlantic University, expressed optimism about the partnership’s long-term impact.
“We are super excited about this partnership and confident that it will drive transformation for both institutions.
“The EDC was established to build capacity and provide support services for SMEs. In the past 21 years, we have trained over 350,000 entrepreneurs across Nigeria.
“Keystone Bank’s support comes at a critical moment as we scale our programs and expand our reach ahead of the 2025 SME Conference and GEW Nigeria.
“The SME Conference is a powerful platform that brings together key players in the ecosystem each year to address pressing issues affecting small businesses.
“This collaboration strengthens our capacity to engage more entrepreneurs, provide deeper insights, and drive conversations that inspire growth, resilience, and innovation.
“We commend Keystone Bank’s leadership for its vision and dedication to inclusive economic growth. The bank has truly distinguished itself as a champion of enterprise, and we are proud to have them as a strategic partner,” she concluded.
As part of the agreement, Keystone Bank becomes the major sponsor of the 2025 EDC SME Conference and a key supporter of the GEW Walk, a flagship event during Global Entrepreneurship Week Nigeria 2025.
Both events are expected to attract thousands of entrepreneurs, investors, thought leaders, and policymakers, offering a vibrant platform for knowledge-sharing, networking, and business empowerment.
Fidelity Bank Plc, one of Nigeria’s top-tier financial institutions, has promoted 376 employees following its recently concluded annual performance review exercise.
This represents approximately 12% of the bank’s workforce, underscoring its management’s deep appreciation for the pivotal role played by staff in recoding the highest growth by percentage volumes in the banking industry with 210% increase in its Profit Before Tax (PBT) which grew from N124.3 billion in 2023 to N385.2 billion in 2024.
The announcement, which was recently communicated internally, comes on the heels of a 20% across-the-board salary increase implemented in June 2025—a gesture that reflects the bank’s commitment to staff welfare. It is worth noting that this follows a similar salary adjustment carried out in November 2024.
Under the leadership of Dr. Nneka Onyeali-Ikpe, Fidelity Bank has consistently outperformed market expectations. In 2024, the bank recorded the highest share price growth of 116% in the industry following the completion of its Public Offer which was over subscribed by 238% .
In recognition of the banks stellar performance, global rating agency, Fitch Ratings recently upgraded Fidelity Bank’s National Long-Term Rating from ‘A(nga)’ to ‘A+(nga)’ in a further endorsement of the bank’s financial strength and prudent management. The upgraded ratings reflects improved profitability metrics and robust capital buffers, reinforcing the bank’s sustained upward trajectory.
Fidelity Bank Plc on Wednesday refuted claims that its Managing Director, Dr. Nneka Onyeali-Ikpe, is involved in an ongoing fraud case concerning the account of Woobs Resources.
The Bank’s position follows reports published by Sahara Reporters alleging that Dr. Onyeali-Ikpe was listed as a defendant in the case.
However, documents sighted by Nigeria CommunicationsWeek revealed that the charge sheet dated May 12, 2025, named the defendants as Victor Ukutt, Fidelity Bank Plc, Whoba Ugwunna Ogo, and Safiya Whoba.
A statement by the Office of the Attorney General of the Federation and Minister of Justice dated June 9, 2025, confirmed that Onyeali-Ikpe’s name was struck off the charge list.
The Ministry noted that she was neither the Managing Director nor the account officer at the time the account in question was opened.
The clarification aims to dispel misinformation and uphold the integrity of the institution and its leadership.
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