E-Financial
FCMB Empowers SMEs with Training on Digital Technology, Logistics
Business owners in Nigeria have been advised to leverage on the opportunities provided by digital technology to boost productivity, service delivery and overall performance of their organisations despite the challenges posed by the Covid-19.
This was the submission of guest speakers at the second edition of the First City Monument Bank (FCMB) organised virtual capacity building programme for SMEs with the theme, “Leveraging Digital Technology & Logistics to Grow Your Business,” held recently.
The initiative was organised under the auspices of the bank’s free comprehensive capacity building programme, tagged, “Business Empowerment and Sustainability Training (BEST)’’ Masterclass and was put together by FCMB’sTraining Academy and SME Advisory Unit.
A statement explained that the online seminar, which recorded over 2,016 registered participants, focused on various topics, ranging from innovation, digital technology solutions, business model opportunities and adapting to the new normal.
The outbreak of the novel coronavirus pandemic has continued to pose alarming economic, business and commercial impact globally. It has adversely limited the ability of businesses to meet high demand of goods and services due to the restrictions and other safety measures put in place by Governments and health authorities to contain the pandemic.
However, experts are of the opinion that these challenges can be overcome with the adoption of effective digital technology solutions and logistics.
In his presentation, an Associate Partner with Mckinsey & Company, Mr. Chika Ekeji, said, though, Covid-19 is disrupting the structure of businesses across Africa, the continent can respond to disruptions with four actions.
These, he listed to include a shift in business model, sustaining business and restoring operation, shaping a whole new business and restructuring company or industry, depending on the extent of business model disruption and extent of negative demand disruption.
According to him, “some of the ways business owners can respond to this impact are, respond, return and reimagine. Across all horizon, a number of technology solutions can be leveraged to adjust SME operations to the new normal with the goal of cutting cost, sustaining revenues, reaching (new) customers, delivering on commitments, managing supply chains and innovating”.
Another guest speaker, an Associate Director of Strategy and Economics at KPMG Nigeria, Mr. Olusegun Zacchaeus, said businesses, particularly SMEs, should realign their strategies to embrace the new normal caused by the coronavirus pandemic.
He noted that this new reality presents a new set of conditions for success for SMEs and as such they must proactively adopt new strategies for survival, considering the challenging economic outlook.
He stressed that, “businesses will have to navigate the different phases of crisis maturity by responding to immediate challenges, managing through uncertainty, resetting and identifying opportunities and adapting to New Reality. The strategies for the New Reality include, building financial sustainability, manage your market to sustain revenue flows, diversify and explore new opportunities and re-evaluate your operating model plan with scenarios in mind”.
On his part, the Chairman of FASMICRO Group, Prof. Ndubuisi Ekekwe, who was a special guest said, there was need for everyone in business to evaluate why they are in business which brings the market friction between demand and supply to equilibrium.
“To stay relevant in business, business owners are required to solve market frictions and those with the acquired skills have the capabilities to release products that can overcome the frictions. If you have a great product – great things will happen,” he added.
Ekekwe added that, “The ability of business owners to serve customers and deliver goods to them can be achieved through partnership with logistics companies who leverage on technology to reach customers.
By following this model in the right way and choosing appropriate tech solutions, business owners can gain visibility, transparency and save cost, which will in turn help them stay within the marginal cost of production.”
Commenting on the BEST Masterclass, Mrs. Bukola Smith, Executive Director, Business Development of FCMB, said the bank recognises the increasing role and impact of SMEs and particularly understand the impact COVID-19 might have on their operations.
According to her, “the BEST initiative has been redesigned to meet the changing dynamics of the environment with the addition of a Masterclass. This is one of the innovative ways we empower and lay a solid foundation for the success of our SME customers.
“We believe that this initiative, which is the second edition since the outbreak of the COVID-19 pandemic, will go a long way to impact positively on business owners. We will continue to go the extra mile to create opportunities that would enable our customers succeed despite the challenges.”
Africa Prudential Plc has launched Sabivest, a digital shareholder and investment management application, as part of efforts to deepen access to investment opportunities and enhance transparency in Nigeria’s capital market.
Unveiled in Lagos, the platform is designed to provide investors with a centralised system for managing shareholdings and tracking portfolio performance across multiple investment products.
At the launch, the Chairperson of Africa Prudential Plc, Christabel Onyejekwe, said the initiative reflects the company’s commitment to leveraging innovation to improve investor experience and participation.
“Sabivest provides a unified ecosystem that enables individuals and institutions to seamlessly access, monitor and grow diversified financial assets through a single interface,” she said, describing the platform as a significant step in advancing digital transformation within the capital market.
The Managing Director, Catherine Nwosu, noted that the application, which is available for download on both iOS and Android platforms, was developed to address structural challenges that have continued to limit investor efficiency, including fragmented investment accounts, restricted access to diverse financial instruments, and inadequate visibility into portfolio performance.
According to her, the platform aggregates multiple investment services, offering users real-time insights and control through a centralised dashboard.
She added that Sabivest features consolidated portfolio views, performance tracking, asset allocation insights, and electronic dividend management, alongside tools for monitoring, documenting, and recovering unclaimed dividends.
The launch also featured a roundtable session themed, “Building Trust and Driving Innovation in Nigeria’s Capital Market,” where stakeholders emphasised the importance of technology-driven solutions in strengthening investor confidence and expanding market participation.
Transnational Corporation Plc (“Transcorp Group” or the “Company”) (NGX: TRANSCORP), Africa’s leading listed conglomerate with strategic investments in power, hospitality and energy, has declared a total dividend of ₦20,323,995,148, representing ₦2.00 per share to its shareholders, at its 20th Annual General Meeting (AGM), held at the new state-of-the-art Transcorp Centre Abuja.
Group Chairman, Mr Tony O. Elumelu, CFR; President/Group CEO,, Mrs. Owen D. Omogiafo, OON; and Company Secretary, Ms. Atinuke Kolade, during the 20th Annual General Meeting (AGM) of Transnational Corporation Plc( Transcorp Group) held in Abuja at the weekend
The total dividend comprises an interim dividend payment of ₦4,064,799.030, representing 40 kobo per share, paid in August 2025, together with a final dividend of ₦16,259,196,118, equivalent to ₦1.60 per share.
At the AGM, where the shareholders approved the Audited Financial Statements for the year ended December 31, 2025, the Group Chairman of Transcorp Plc, Mr Tony O. Elumelu, CFR, restated the company’s commitment to delivering sustainable long-term value creation as shareholders commended the conglomerate and its management for sustained performance.
In 2025, the Group, with a combined market capitalisation of ₦4.78 trillion ($3.52 billion) as of May 7, 2026, recorded strong year-on-year growth across all key metrics. Revenue increased by 33% to ₦544 billion (FY 2024: ₦408 billion). Profit Before Tax rose 31% to ₦179.5 billion (FY 2024: ₦136.7 billion), while Profit After Tax surged 44% to ₦135.9 billion (FY 2024: ₦94.1 billion)
Group Chairman, Mr Tony O. Elumelu, CFR; President/Group CEO,, Mrs. Owen D. Omogiafo, OON; and Company Secretary, Ms. Atinuke Kolade, during the 20th Annual General Meeting (AGM) of Transnational Corporation Plc( Transcorp Group) held in Abuja at the weekend
Mr. Tony O. Elumelu, CFR, Group Chairman, Transnational Corporation Plc said: “Transcorp Group remains firmly focused on strong corporate governance and the disciplined execution of its strategic priorities to deliver sustainable, long-term value. Despite a challenging macroeconomic environment, the Group continues to benefit from its diversified portfolio, which has underpinned resilient financial performance in 2025.
Mrs. Owen D. Omogiafo, OON, President/Group CEO, Transnational Corporation Plc said: “FY 2025 was a year defined by disciplined execution, strategic resolve, and resilient performance. Transcorp Group is committed to resolving the energy crisis in Nigeria; we have an energy situation, and the gap between the demand and supply is still very wide. Hence, we will continue to work assiduously and tirelessly towards bridging that gap, creating value for the wider country.
In our hospitality business, the 5,000-seat capacity Transcorp Centre hosting us today is a testament to our disciplined execution, and you will see more in the coming years.
While commenting on the performance, one of the shareholders, Mrs E. O. Obideyi, commended the management of Transcorp Group, saying, “I commend the management and staff of Transcorp for sustained performance year-on-year. While we appreciate the Board, I am also extending my commendation to the members of staff of Transcorp for a job well done.”
Another Shareholder, Mr Moses Igrude, commended the Board, Management and Staff of Transcorp Plc. He said: “I appreciate the vision behind Transcorp and what it has become. When I look at the history, and how far it has come under Mr Tony Elumelu’s leadership, I am proud that the aim and objectives are being achieved. That payoff line, ‘Improving lives and transforming Africa,’ is a reality we are witnessing.
Transnational Corporation Plc (Transcorp Group) is one of Africa’s leading listed conglomerates, with strategic investments in power, hospitality and energy, driven by its mission to improve lives and transform Africa.
The Group’s power businesses — Transcorp Power Plc and Transafam Power — provide over 20% of Nigeria’s installed power capacity. Transcorp is also advancing Nigeria’s domestic energy value chain through its investment in OPL281. Its hospitality subsidiary, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja and the landmark Transcorp Centre Abuja.
International Monetary Fund (IMF) has warned that artificial intelligence (AI) is significantly increasing the danger of cyberattacks on the global financial system.
Pic credit… saturnpartners
According to a blog post from the IMF, these AI-driven threats could turn isolated security breaches into severe economic disruptions, potentially freezing payments, shaking markets, and undermining public trust in banks worldwide.
In its analysis, the fund highlighted a specific example involving the controlled release of an advanced AI model called Claude Mythos Preview by Anthropic.
The IMF noted that this model demonstrated the ability to identify and exploit weaknesses in all major operating systems and web browsers, even when used by individuals without specialized expertise.
The IMF cautioned that AI could heighten risk concentration within the financial system.
A single exploited vulnerability might cascade across numerous institutions simultaneously due to heavy reliance on a limited number of cloud providers, software platforms, and AI models.
Such events could escalate from operational issues to macro-financial shocks, triggering confidence crises, liquidity problems, and fire-sale dynamics in markets. The organization also acknowledged that AI forms part of the solution.
As attackers operate at machine speed, financial institutions are deploying their own AI-assisted tools for threat detection, fraud prevention, and faster incident response.
The IMF highlighted a geopolitical dimension to the threat, noting that cyber risk crosses national borders and that inconsistent oversight among countries could weaken the globally interconnected financial system.
Emerging economies, often with limited resources, may face disproportionate exposure.
The fund urged policymakers to treat cybersecurity as a core financial stability concern rather than a technical or operational matter.
It called for prioritization of resilience standards, systemic supervision, and international coordination to contain breaches before they spread.
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