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FMBN Plans to Grow Investment to N1.1 trillion

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The Federal Mortgage Bank of Nigeria (FMBN) is planning to grow its investment volume to about N1.1 trillion, making it one of the biggest banks in the country.
Abdulsalam Ahmed, managing director/Chief Executive of the bank said that the move was part of the bank’s on-going re-branding exercise.
He said the bank is expecting investments from Chinese and other international bodies. “We have commitment with the biggest company in China to bring in money for us to build a million housing units, starting with 100, 000 housing units. What we are expecting from the Chinese investors is in the region of N500 billion. What we are expecting from HSBC is in the region of N230 billion. We have gone very far with them. We are also expecting Forex International to come with N300 billion and to build houses in Nigeria.”
Abdulsalam said the bank is also planning to raise its capital base from N5 billion to N50 billion, saying this will come from foreign funding and securing facilities from the international financial institutions.
He said the bank has decided to introduce series of products into the market in its re-branding moves. One of such products is mortgage insurance which will help in increasing home ownership in the country.
“We have decided to expand our mortgage financing to the non-salary informal sector. We are concern with the people in the construction sectors such as bricklayers, mechanics, churches and mosques. We want to get them unionised so that we can serve them better. By so doing we will be encouraging the formation of corporative societies which is also a products we intends to dish out in the medium term. We are also looking at the Real Estate Investment Trust. We will encourage development and emergency of these products along with other stakeholders. We are going to deploy massive technology to ensure effective and efficient service delivery. In the long term we are also looking at the mortgage securitization.”
He said the bank is determined to increase home ownership in the country from 25 percent to over 80 percent.
In its re-branding exercise, the bank will also adopt the Microfinance Banks (MFBs) strategy in the long term to allow large number of people to have access to housing.
 “The re- branding is intended to reposition the bank in such a way that in the next three years it will be the biggest bank in the country,” he said

 


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PalmPay Supports Nigeria Police Force National Cybercrime Centre 2025 Cybersecurity Awareness Walk

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Chika Reginald Nwosu, Managing Director, PalmPay at the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) during its Cybersecurity Awareness Walk held in Abuja, recently.
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PalmPay, a Nigerian leading digital banking platform, supported the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) during its Cybersecurity Awareness Walk held in Abuja as part of activities marking the 2025 Cybersecurity Awareness Month.

Themed “Secure Our World,” the event brought together key stakeholders from law enforcement, regulatory bodies, and the private sector to promote public awareness on cybersecurity, financial fraud prevention, and safe online practices.

PalmPay joined other participants in advocating for stronger public vigilance and safer digital engagement, reaffirming its commitment to supporting national efforts that enhance cybersecurity and consumer protection.

Speaking during the event, PalmPay’s Managing Director, Mr Chika Reginald Nwosu, commended the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) for its efforts in combating cybercrime and protecting consumers. He emphasised the need for continued collaboration across sectors to build a safe and secure payment ecosystem for all Nigerians.

“We commend the NPF-NCCC for its proactive leadership in driving cybersecurity awareness,” said Nwosu. “At PalmPay, we are committed to supporting initiatives that promote digital safety and foster trust in Nigeria’s growing digital economy.”

At the event, PalmPay was commended for its outstanding efforts in strengthening regulatory engagement and advancing consumer protection initiatives across the fintech industry.

The partnership underscores PalmPay’s ongoing commitment to promoting cybersecurity awareness, consumer protection, and fraud prevention as part of its mission to create a safer digital financial ecosystem in Nigeria.

PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.

PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.


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Fidelity Bank Salutes Air Peace for Flying Nigeria’s Flag to Heathrow

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Fidelity Bank Plc has congratulated Air Peace on the successful launch of its maiden direct flight from Lagos to London Heathrow, describing the milestone as a significant achievement for Nigeria’s aviation sector and a testament to the power of indigenous partnerships.

Fidelity Bank Salutes Air Peace for Flying Nigeria’s Flag to Heathrow

 

The commendation was delivered by Dr. Nneka Onyeali-Ikpe, managing director of Fidelity Bank, during a special event held in Lagos to celebrate the airline’s expansion into the European market.

“This is not just a win for Air Peace, but a win for Nigeria,” Onyeali-Ikpe said. “It reflects the strength of home-grown businesses and the impact of strategic financial support in enabling national champions to thrive on the global stage.”

Nigeria CommunicationsWeek reports that Fidelity Bank has played a pivotal role in Air Peace’s growth, providing early financial backing and advisory services that helped the airline become the largest carrier in West Africa. The bank continues to support Air Peace through payment processing and other financial services

The launch of the London route marks a new chapter for Air Peace, which now joins a select group of African airlines operating direct flights to Heathrow.

The development is expected to boost tourism, trade, and connectivity between Nigeria and the United Kingdom.

Speaking at the event, Allen Onyema, Chairman of Air Peace, expressed gratitude to Fidelity Bank for its unwavering support and reaffirmed the airline’s commitment to excellence and service.

“This partnership has been instrumental in our journey,” Onyema said. “We are proud to fly the Nigerian flag across international skies.”

Industry stakeholders present at the event praised the collaboration between the two companies as a model for sustainable business growth and national development.


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After MultiChoice Buyout, Canal+ Eyes Full Ownership of Showmax

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Canal+, French media giant, is reportedly eyeing the full takeover of Showmax, the African streaming platform jointly owned with MultiChoice Group.

After MultiChoice Buyout, Canal+ Eyes Full Ownership of Showmax

This followed its recent push to expand across the continent’s digital entertainment market.

The move comes after Canal+ completed its acquisition of MultiChoice to strengthening its hold on Africa’s pay-TV and streaming ecosystem.

With Showmax being a key growth asset under the partnership, industry analysts say a full takeover could give Canal+ end-to-end control of content production, distribution, and subscription revenue in multiple markets.

The acquisition would also align with Canal+’s broader strategy to rival global streaming giants such as Netflix and Amazon Prime Video by leveraging African content demand and localized storytelling.

According to RipplesNigeria, Ayo Balogun, Media and Telecoms Analyst, CardinalStone Partners, while reacting to the move, said: “Canal+’s full acquisition of Showmax would mark a decisive step in consolidating Africa’s digital media value chain.

“With MultiChoice now under its control, Canal+ can fully integrate content, distribution, and streaming into a single monetizable ecosystem—something we’ve not seen before on this scale in Africa.”

Thandiwe Mokoena, Senior Media Strategist, Johannesburg, added: “This move gives Canal+ strategic dominance in both the pay-TV and OTT spaces. It positions them not only as a regional player but also as a continental gatekeeper for premium African content. The competitive pressure on Netflix and Amazon Prime Video in Africa will rise sharply if this takeover goes through.”

Financial markets are closely watching how the potential consolidation could reshape Africa’s media landscape, particularly in terms of valuation, competition law, and licensing rights.


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