Fidelity Bank Plc, a leading financial institution, has donated maternity kits to pregnant women in Aiyetoro, Yaba Local Council Development Area (LCDA) of Lagos State. This donation is part of the bank’s Corporate Social Responsibility (CSR) efforts under the Fidelity Helping Hands Program (FHHP).

L-R: Mr. Tukwasi Onyechi, Class President, Crestcore Inductees Class, Fidelity Bank Plc; one of the beneficiaries; Dr. Oredein, Medical Officer of Health for Yaba Local Council Development Area (LCDA); and Mrs. Victoria Abuka, Team Lead, Corporate Social Responsibility, Fidelity Bank Plc; at the donation of maternity kits to pregnant women in Aiyetoro, Yaba Local Council Development Area (LCDA) of Lagos State recently.

The initiative, spearheaded by the Crestcore Inductees Class, underscores the bank’s dedication to supporting local communities. Through FHHP, Fidelity Bank Plc’s staff identify impactful projects in their communities and raise funds to support them. The bank’s management matches these contributions, amplifying their reach and impact.

The handover ceremony was held at Aiyetoro Primary Health Centre, Wright Street, Adekunle, Yaba. Dr. Meksley Nwagboh, Divisional Head of Brand & Communications at Fidelity Bank Plc, presented the maternity kits to the community.

Dr. Nwagboh highlighted the importance of the initiative, stating, “At Fidelity Bank, we recognize that ‘health is wealth,’ and without good health, it is difficult to pursue one’s dreams and aspirations.

“Unfortunately, financial barriers often prevent women from seeking crucial ante-natal care. This has been fingered as a leading cause of maternal mortality.

“That is why we are in the Aiyetoro Community today to provide essential maternity kits to economically disadvantaged expectant mothers. Our hope is that this donation encourages more women to attend ante-natal appointments.”

Receiving the items on behalf of the beneficiaries, the Medical Officer of Health for Yaba LCDA, Dr. S.O. Oredein, expressed gratitude on behalf of the community.

“Fidelity Bank has once again proven to be a bank that cares deeply about the well-being of the people. By providing these maternity kits, the bank is encouraging more expectant mothers to visit health centers, thus helping to reduce maternal mortality”, explained Dr. Oredein.

The donation of maternity kits in Aiyetoro LCDA, Yaba, falls under Fidelity Bank’s Health/Social Welfare CSR pillar. Other pillars in the bank’s CSR strategy include Education, Youth Empowerment, and Environmental Sustainability.

One of the beneficiaries, Sekinat Aderoju, expressed her joy, saying, “We are truly grateful for Fidelity Bank’s support. Receiving these maternity kits will ease the financial burden and help us prepare for safe deliveries.”

Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged customer com­mercial bank with over 8.3 mil­lion customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.

The bank has won multiple local and international awards in­cluding the Export Finance Bank of the Year at the 2023 Business­Day Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provid­er Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Do­mestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

United Bank for Africa Plc (UBA)  has rewarded 30 customers with over N17m in its August draw, in celebration of its 75th anniversary.

In a statement on Monday, the lender said the event, held recently in Lagos, featured a draw overseen by representatives from the National Lottery Regulatory Commission (NLRC).

It stated that in the top tier, 10 winners received N1m each, adding that the recipients included Joshua Izenobor, Chigozie Abel, Cornelius Nwankwo, and others.

It added that the second tier awarded N500,000 each to another set of 10 customers, which were Elizabeth Warekoromor, Deborah Ijeoma Simon, and others.

According to the bank, in the third category, 10 account holders won N250,000 each.

The winners included Olusegun Oke, Salisu Adamu, and others.

Congratulating the winners, Shamsideen Fashola, group head of retail & digital banking, UBA, encouraged others to continue saving for a chance to win in future draws.

“This is just the beginning of our legacy promo draw. We plan to reward 75 winners in each category, with 195 more customers to be selected in the coming months. Our draws are transparent, and the next millionaire could be you,” Fashola stated.

Also, Alero Ladipo, group head of marketing and corporate communications, UBA, emphasised that the draw was part of the bank’s efforts to appreciate customers and promote a savings culture.

“This initiative reflects our commitment to giving back to society and ensuring our customers feel valued,” he said.

The Securities and Exchange Commission (SEC) has clarified that its recent decision to grant approval-in-principle to two cryptocurrency exchanges, Busha Digital Limited and Quidax Technologies Limited, is aimed at encouraging youth participation in Nigeria’s capital market while ensuring adequate investor protection.

Emomotimi Agama, the Director-General of the SEC, highlighted that the move aligns with President Bola Tinubu’s commitment to engaging Nigeria’s youthful population. Agama explained that the approval will create a structure that enhances the participation of young Nigerians in the capital market, particularly in the digital asset space.

“A lot of young Nigerians are fully involved in digital assets, and we cannot shut the door against them,” Agama said. “Rather, the intention of Mr. President is to have them inclusive in the capital market, and that is why we are ensuring that there is regulation and no one is hurt at the end of the day. That’s our responsibility at the SEC, by protecting investors and developing the market.”

Agama emphasized that the commission’s approval is still at an incubation stage, describing it as a “controlled experiment.” He said the SEC will closely monitor the operations of the exchanges to assess the risks they pose to the economy, investors, and themselves as operators.

“It gives us an opportunity to know exactly what they are doing, the risks they pose to our economy, investors, and even to themselves,” he explained. “We are making sure they operate within regulations similar to what is obtainable in other jurisdictions.”

Agama explained SEC’s regulatory approach to digital exchanges is part of a broader strategy to embrace innovation without compromising market stability.

The commission’s Virtual Assets Service Providers (VASP) Regulation framework allows the SEC to fully understand crypto exchanges and virtual financial assets, safeguarding the financial ecosystem from potential risks.

“In our bid not to stifle innovation, we set up a ‘Sound Box’ to understand exactly what these companies are getting into, how it affects customers, the Nigerian public, and the economy,” Agama added. “It is important that they meet the necessary regulatory guidelines before full approval is granted.”

He noted that the SEC is committed to fostering trust and confidence in the capital market, particularly as it relates to integrating digital asset exchanges into the regulated environment.

The introduction of these exchanges, Agama said, opens up new opportunities for younger Nigerians who have shown growing interest in the digital asset space.

“By including these innovations within the broader capital market structure, we are ensuring a balance between fostering innovation and protecting investors,” Agama concluded.