Police prosecutors from the Lagos State Criminal Investigation Department (SCID) have arraigned  Nnedimma Arah, a senior manager at First Bank Limited, before the Federal High Court, Lagos, over allegations of forgery.

Before Nnedimma’s arraignment, the detectives had filed a three-count charge against her and one Temitope Ogheneteme, based on advice from the office of the Director of Public Prosecutions (DPP).

But during the proceedings, Emmanuel Eze, Police prosecutor, urged the court to remove Temitope Ogheneteme’s name from the charge, citing the DPP’s legal advice.

Justice Daniel Osiagor, trial judge,  granted this request, and Ogheneteme was discharged.

This amendment left Arah, who is the branch manager of Dosumu, Lagos Island, and an Associate Chartered Accountant (ACA), as the sole defendant in Charge No. FHC/L/582C/2025.

Arah was accused of forging a letter of undertaking, supposedly issued by Freshborn Industries Limited on August 12, 2022, to cover foreign exchange differences.

Eze claimed that the alleged forgery occurred from January 2023 to January 2024 at the Dosunmu Branch.

He claimed that the document was forged with the intent to deceive, harming Freshborn Industries Nigeria Limited and its representatives, Anene Ikenna and Anene Chinyere Angela.

The prosecutor further maintained that the offence is punishable under Section 1(2)(c) of the Miscellaneous Offences Act.

The defendant pleaded not guilty to the charge.

Her defence requested bail, noting she had previously been on administrative bail and had attended court proceedings diligently.

Justice Osiagor granted her bail in the sum of N5 million with one surety in like sum.

The case’s progress was delayed earlier because the Office of the Director of Public Prosecutions (DPP) was reviewing the case file after a petition from First Bank.

In a letter dated January 26, 2026, the DPP asked the police to review the case under the Administration of Criminal Justice Act.

The bank’s petition to the Attorney-General stated that the dispute involved a $400,000 credit facility to Freshborn Industries Limited, which is also pending in a civil suit before the Lagos State High Court.

The bank argued that the criminal charges stem from a commercial dispute and warned that this could constitute an abuse of the legal process.

The judge has fixed the trial for July 14 and 15, 2026.

Moniepoint Microfinance Bank (Moniepoint MFB) has reaffirmed its leadership in Nigeria’s agency banking space, positioning its track record and distinctive service model as a game-changer for the sector, while committing to deepen value creation across the entire ecosystem.

Beyond service provision, the Bank is cementing its identity as the homegrown, technological backbone of the real economy, built by Nigerians to solve the specific complexities of the local commercial landscape.

Speaking on the Bank’s evolving strategy, Ezekiel Sanni, Senior Vice President (SVP), Distribution Network Sales, Moniepoint MFB, said the Bank’s approach is built on a clear understanding that agency banking must be anchored on consistent enterprise support, trust building, and real economic value for agents, merchants and their customers.

“Agency banking has grown significantly in reach, but the next phase of growth will be defined by quality of service and depth of engagement,” Ezekiel Sanni, SVP, Distribution Network Sales, said. “At Moniepoint MFB , we have built a model that prioritises not just access, but meaningful, routine local support for the merchants and communities we serve while our engineering is a commitment to the stability that these businesses need to thrive.”

At the core of this approach is the deployment of dedicated field-based managers who work closely with agents, providing hands-on, on-the-ground support tailored to their daily operations. Unlike conventional systems, where engagement often ends after onboarding, Moniepoint MFB maintains continuous interaction with agents, driving product usage, resolving operational challenges, and strengthening long-term partnerships.

By combining digital infrastructure with a strong physical presence, the Bank has created a hybrid service model that delivers both scale and human connection. This proximity enables faster issue resolution and supports always-on mentorship, where merchants receive ongoing business guidance, real-time operational support, and on-the-job training, particularly in critical areas such as fraud detection and anti-money laundering (AML) regulatory compliance.

“When you are close to the agent, you are in a position to go beyond providing a service to building capability,” Mr. Sanni added. “Our teams work alongside agents to strengthen their operations, improve compliance awareness, and ultimately protect both their businesses and the broader financial system.”

According to the Bank, the impact of this approach extends beyond agents and merchants to last-mile customers, who benefit from more reliable service, safer transactions, and greater confidence in the financial system they interact with daily.

Moniepoint MFB’s model has been further strengthened by its track record over the past few years as the bona fide operating system for small businesses. The Bank has integrated value-added services, such as inventory management, savings product, and access to working capital loans, into its platform, embedding itself in merchants’ day-to-day operations and significantly increasing the value delivered.

“Our aspiration has been to become indispensable to the businesses we serve,” Ezekiel noted. “When your banking partner is also supporting your inventory, helping you navigate other obligations, and providing access to capital, the relationship becomes stronger and more impactful.”

The Bank’s strong performance metrics reinforce this positioning as Nigeria’s largest merchant acquirer, powering 8 out of every 10 in-person payments made across the country, driven by reliability, fast transaction processing, rapid settlement cycles, and a range of other benefits.  This consistency has also helped build a reputation for reliability, which the Bank describes as a key competitive moat in a market where agents often consolidate around a single provider.

“In many cases, agents are effectively choosing a long-term partner they trust to be stable, responsive, and dependable. That is the trust we have deliberately built, that continues to differentiate us even as we work hard to contribute meaningfully to the broader growth and development of the financial ecosystem,” Mr. Sanni added.

The Bank reiterated that it sees agency banking not just as a channel but as critical infrastructure for economic participation and an enduring financial inclusion. Moniepoint’s commitment is to keep strengthening that infrastructure, supporting merchants, empowering customers, and continuing to serve as the reliable, indigenous engine that keeps Nigeria’s real economy moving.

By Margaret Banasko, Head of Marketing, FairMoney Microfinance Bank

Nigeria is at the forefront of Africa’s digital labour shift. According to the World Bank, the country leads a cohort of 17.5 million online gig workers across sub-Saharan Africa, with over 65% of the population under age 35 who make up the digital-native workforce. According to late data from 2023, the Nigerian Bureau of Statistics (NBS) indicated that approximately 87.3% of employed Nigerians are primarily self-employed, reflecting a deep-seated culture of entrepreneurship.

Margaret Banasko, Head of Marketing, FairMoney Microfinance Bank

The Nigerian freelancer’s life isn’t without its hurdles. Between the biting impact of inflation, a volatile exchange rate, and the soaring costs of power and data, many digital professionals are finding their margins squeezed like never before. Surviving this economic climate requires more than just hard work; it demands a shift in mindset. Success now hinges on thinking outside the box and maintaining the discipline to save.

Here are 5 actionable saving hacks that prove that financial discipline is the ultimate hedge against uncertainty. Whether you’re saving a little or a lot, consistency is the key to surviving in a volatile market.

1. Build a “Dry Month” Emergency Fund

In the world of freelancing, some months are lucrative while others are quiet. A dedicated ‘Dry Month’ fund is your insurance against the unpredictable nature of client work. By automating your savings until you have a three-to-six-month cushion, you’re essentially paying your future self in advance. Treating this fund as a fixed monthly expense creates a rock-solid safety net, ensuring that a slow season never dictates your professional worth.

2. Work From Home to Cut Fuel and Transport Costs

With the removal of fuel subsidies and the subsequent hike in transport fares, commuting to co-working spaces or client offices every day can drain your profits. Transitioning to a fully remote setup—or limiting outings to a single ‘errand day’—can save you tens of thousands of Naira monthly. Consistently diverting that transport money into a FairSave account will help you build a substantial buffer for a rainy day.

3. Replace Physical Meetings with Virtual Calls

Beyond the transport cost, physical meetings consume your most valuable resource – time. Transitioning to video conferencing tools allows you to manage multiple clients across different time zones without leaving your desk. If a face-to-face meeting isn’t strictly necessary for closing a deal, opt for a virtual touchpoint. The data cost of a 30-minute video call is a mere fraction of the cost of a cross-town ride.

4. Automate Your Savings

Manual saving rarely wins against the temptation of daily spending. Switching to FairMoney’s digital tools changes the game. By using FairSave for accessible interest or FairLock to secure a lump sum at a fixed rate, protecting your funds from impulsive spending. For goals like a new laptop or certification, FairTarget automates your progress toward the finish line. Letting money sit idle in an inflationary economy is a cost in itself; putting it into high-yield accounts ensures your money keeps pace with your hustle.

5. Leverage Group Subscriptions

Internet data is the lifeblood of the digital professional, but as overheads rise, collective bargaining becomes a strategy. Many telecommunications providers now offer “family” or “group” data plans that are significantly cheaper per gigabyte than individual monthly subscriptions. By partnering with a few trusted fellow freelancers to share a large data pool, you can slash your monthly “office” overhead. It’s a simple collaborative hack that keeps everyone online for less.

In Nigeria’s volatile gig economy, the true measure of a freelancer’s success is not gross revenue, but capital retention. Amidst significant inflationary headwinds, these strategic financial levers serve as a critical buffer for your enterprise. By prioritizing incremental, disciplined saving, digital professionals can insulate themselves against macro-economic shocks and secure a competitive advantage in the long-term wealth game.