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.

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.

Central Bank of Nigeria has increased the fee for the issuance or replacement of debit and credit cards from ₦1,000 to ₦1,500 as part of a revised framework governing bank charges.

ATM Card

In a circular released on Thursday, April 23, titled Guide to Charges by Banks and Other Financial Institutions, the apex bank said the new fee will take effect from May 1 and will apply to standard ATM cards issued by banks and other regulated institutions nationwide.

The CBN clarified that no maintenance fee will be charged on naira-denominated debit or credit cards, while virtual cards will remain free.

The updated guide replaces the previous framework issued in January 2020 and applies to all institutions under the regulator’s supervision, including commercial banks, microfinance banks, payment service banks and mobile money operators.

According to the CBN, the revised framework was developed following consultations with stakeholders and is aimed at improving transparency and consistency in the financial system. “The Guide aims to enhance flexibility, standardisation, transparency and competition in the Nigerian financial system,” the regulator said.

Under the new structure, point-of-sale payments will remain free for customers, with merchants bearing the cost through a merchant service charge set at 0.5 per cent of transaction value, capped at ₦10,000.

On transaction alerts, the CBN said customers may still be charged for SMS notifications on a cost-recovery basis, while email alerts must be provided at no cost.

The regulator also outlined changes to account maintenance charges, stating that fees for current accounts will remain negotiable but capped, with a phased reduction to ₦0.5 per mille in 2026 and a full elimination by 2027.

For ATM withdrawals, customers using another bank’s machine will be charged ₦100 per ₦20,000 withdrawal at on-site locations, while off-site ATMs may attract an additional surcharge of up to ₦500 per transaction, subject to disclosure at the point of use.

Electronic transfer fees were also reaffirmed, with transactions of ₦5,000 and below remaining free, transfers between ₦5,000 and ₦50,000 attracting a ₦10 charge, and transfers above ₦50,000 costing ₦50.

The CBN further directed that financial institutions must not apply non-credit related charges beyond the available balance in a customer’s account and must defer such charges until the account is funded.

It also instructed banks to inform customers when charges are negotiable. “Where a charge is stipulated as ‘negotiable’, financial institutions are required to draw the attention of customers to their rights to negotiate at the beginning of the transactions,” the CBN said.

The circular added that account reactivation and certain routine services will remain free, and that any new charges or financial products not listed in the guide must receive prior approval from the central bank.

The regulator said the revised framework is part of broader efforts to strengthen consumer protection, standardise banking practices and ensure fair pricing across Nigeria’s financial sector.