E-Financial
Fidelity Bank’s CSR Initiative Boosts Educational Infrastructure in Benin and Abuja
Fidelity Bank Plc, a leading financial institution, has once again demonstrated its unwavering commitment to enhancing its host communities’ lifestyles. Through its dedicated education Corporate Social Responsibility (CSR) pillar, the bank recently undertook significant projects aimed at promoting quality education delivery across the country.
In Benin-City, Edo State, Fidelity Bank recently renovated the library at Emotan College, Wire Road. This initiative, which was executed under the auspices of the Fidelity Helping Hands Program (FHHP), was championed by the Phoenix Inductee Class of Fidelity Bank. The FHHP allows Fidelity Bank staff to identify community needs, raise funds, and receive matching support from the bank to implement impactful projects.
At the official handover ceremony, Ovie Mukoro, Regional Bank Head, Midwest 1, Fidelity Bank Plc, highlighted the alignment of the renovation project with the bank’s CSR pillars, emphasizing the promotion of quality education and youth empowerment. Mukoro stated, “The renovation project reflects the Bank’s commitment to enhancing the lives of its host communities through the dedication and generosity of its newly inducted staff who voluntarily contributed funds to support the project.”
The Principal of Emotan Junior College, Mrs. Idukpaye Henrietta, expressed her gratitude, noting that the investment in the school is an investment in the nation’s future. She looked forward to a lasting partnership that would continue to uplift and empower the students. Similarly, Mrs. Sandra Iyalekhue, Acting Education Secretary, Oredo Local Government Education Authority (LGEA), commended Fidelity Bank for the kind gesture, noting that the project would contribute to the educational development of the students and promote research work.
In Abuja, Fidelity Bank further demonstrated its CSR commitment by donating 40 tables and chairs to LEA School at the Federal Capital Territory. This initiative, also executed under the FHHP by the Prodigies Inductees Class, aims to support quality education delivery in a bid to achieve the Sustainable Development Goals (SDG) 4 – Quality Education.
Meksley Nwagboh, Divisional Head, Brand and Communications, Fidelity Bank Plc, emphasized the importance of supporting education as a tool for societal improvement. He stated, “At Fidelity Bank, we recognize the importance of supporting education as a tool for improving society. Through initiatives like this, we aim to ensure that every child has access to essential educational resources and become an asset to their family, their community and the nation.”
The headmaster of LEA School, Mr. Mohamed Musa, expressed his gratitude for the timely intervention, noting that the donation would address the critical need for adequate classroom seating, preventing students from having to sit on the floor during classes. He encouraged other corporations to follow Fidelity Bank’s lead and support quality education delivery.
These initiatives come to join a long list of Fidelity Bank’s interventions in the education sector. It will be recalled that the bank launched the Read2Lead Initiative last year to foster a culture of reading and writing among young people. The bank also hosted a webinar targeted at businesses operating in the education sector, themed, “Maintaining Educational Standards Amidst Current Economic Realities”, in September 2024 as part of its strategy to improve the country’s education system.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 8.5 million customers through digital banking channels, its 251 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the Export Finance Bank of the Year at the 2023 BusinessDay Awards; the Banks and Other Financial Institutions (BAFI) Awards; Best Payment Solution Provider Nigeria 2023; and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards. It was also recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023 and the Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023
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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