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Shareholders Unanimously Approve Holding Company Structure for Sterling

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L-R: Non Executive Director, Sterling Bank PLC, Tairat Tijani; Managing Director / Chief Executive Officer, AbubakarR Suleiman; Chairman, Asue Ighodalo; and Company Secretary of the Bank, Temitayo Adegoke, at a Court Ordered meeting of the bank in Lagos on Monday.
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Shareholders of Sterling Bank Plc unanimously voted in favor of the creation of a new non-operating holding company (HoldCo) to hold the shares in its commercial banking operation as well as the shares of a newly incorporated subsidiary, The Alternative Bank Limited, which will operate as a Non-Interest Banking (NIB) business.

L-R: Non Executive Director, Sterling Bank PLC, Tairat Tijani; Managing Director / Chief Executive Officer, AbubakarR Suleiman; Chairman, Asue Ighodalo; and Company Secretary of the Bank, Temitayo Adegoke, at a Court Ordered meeting of the bank in Lagos on Monday.

At the end of a court-ordered meeting in Lagos yesterday, the shareholders gave the approval for the carve out and transfer of the Bank’s non-interest banking business to The Alternative Bank Limited, under a proposed scheme of arrangement between Sterling Bank Plc and the holders of its fully paid-up ordinary shares of 50 kobo each.
All the shareholders who attended the meeting approved the initiative and commended the foresight of the directors. They also advised the board and management to work hard to nurture new businesses in a bid to enhance the growth of the holding company.
Addressing shareholders at the meeting, Chairman of Sterling Bank, Mr. Asue Ighodalo said under the new arrangement, the assets, liabilities, and undertakings of the non-interest banking business will be carved out of the Bank and transferred to The Alternative Bank Limited.
Ighodalo said, “Following the implementation of the scheme, shareholders will exchange their shares in the Bank for shares in HoldCo in the same proportion as their current holdings in the Bank, which will be a regulated entity for CBN purposes.”
Under the evolving scenario, the HoldCo will be registered as a public company and Sterling Bank Plc will be delisted from the Daily Official List of the Nigerian Exchange Limited (NGX) and the Holdco will be listed in its stead and the Bank (Sterling Bank) will subsequently be re-registered as a private limited liability company.
The Chairman added that the scheme would provide several benefits to the shareholders of the Bank, some of which include facilitating diversification into other permissible business lines, thereby promoting growth and enhancing shareholder value and facilitation of a consolidated financial strength of the group, which will improve access and ability to raise capital.
He explained that the proposed restructuring will ensure that the Bank’s retail depositors are not exposed to the risks associated with the other activities of the rest of the group and the HoldCo structure will provide the subsidiaries with access to group-wide expertise of the parent company model.
He said the HoldCo structure will also allow the Bank to focus solely on its core operations as against the burden of providing oversight and managing other subsidiaries, adding that it will not result in any adverse changes to the rights and ownership of existing shareholders of the Bank.

 


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Myitura Launches Women-Focused Healthcare Financing Solutions to Bridge Access Gap

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In commemoration of Women’s Month, health-tech platform Myitura has released a new white paper addressing the critical gaps in healthcare financing for women in Nigeria.

Titled “Closing the Gap: Healthcare Financing for Women in Nigeria,” the report highlights how high out-of-pocket costs, limited insurance coverage, and socio-economic factors continue to prevent women from accessing timely healthcare.

According to the report, over 70% of healthcare expenses in Nigeria are paid out-of-pocket, disproportionately affecting women who often delay care due to financial and social constraints.

“When women can afford to take care of their health early, we don’t just save lives; we strengthen families, communities, and the economy,” said Chialuka Kelechi, MyItura’s Chief of Staff.

Key Insights from the White Paper:

  • Preventable conditions often escalate due to delayed care
  • Women are more likely to deprioritize their own health
  • Affordable, structured healthcare financing can significantly improve outcomes

Introducing a Women’s Health Initiative

As part of its commitment, Myitura is launching affordable women-focused health packages (powered by Mediloan), starting at ₦58,180, designed to encourage preventive care and early detection.

The package provides access to:

  • Fasting/Random Blood Sugar
  • Urinalysis
  • Electrolytes
  • Urea
  • Creatinine
  • Pap Smear Submitted slides
  • HIV I & II Rapid (Qualitative)
  • Hepatitis B Surface Antigen Screening (Rapid)
  • Hepatitis C Virus Screening (Rapid)
  • Abdominopelvic Ultrasound
  • Ongoing support via the Myitura platform

Access:

Women can access these packages by downloading the Myitura app, which makes healthcare more accessible and convenient.

Myitura is a health-tech platform focused on improving access to healthcare through financing, technology, and preventive care solutions.

 


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DBI Unveils Nigeria Digital Economy Outlook 2026: Q1 Report Highlights Strategic Trends, Risks

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DigitalSENSE Business Intelligence (DBI), powered by ITREALMS Media, has launched the Nigeria Digital Economy Outlook 2026: Q1 Intelligence Report (Executive Edition), delivering vital insights for navigating Nigeria’s fast-paced digital landscape.

DBI Unveils Nigeria Digital Economy Outlook 2026: Q1 Report Highlights Strategic Trends, Risks

This executive summary spotlights trends, risks, and opportunities in telecommunications, fintech, digital infrastructure, policy shifts, and investment flows. It underscores digital transformation’s pivotal role in boosting economic growth, financial inclusion, and nationwide innovation.

DBI Publisher, Ogbuefi Remmy Nweke, emphasized its value for leaders: “This Executive Edition offers a sharp, strategic view of Nigeria’s digital economy during a pivotal moment. As the sector surges ahead, reliable intelligence is key to seizing opportunities and tackling risks.”

Key highlights include:

  • Broadband infrastructure expansion.

  • Surge in digital payments adoption.

  • Evolving regulations.

  • Investor pivot to sustainable, profitable ventures.

The report urges action on digital financial inclusion, infrastructure funding, skills training, and public sector digitization.

Freely accessible, the Executive Edition complements the premium Full Edition with in-depth analysis for executives and institutions. Stakeholders can request full access or briefings.

Media & Access Contacts:
Email: [email protected]
Website: www.itrealms.com.ng


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NASENI Renewable Energy Industrial Park Underway as Construction Gains Momentum

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The on-going construction works at the National Agency for Science and Engineering Infrastructure, NASENI’s Renewable Energy Industrial Park, Gora, Nasarawa State is gathering momentum as the project is envisioned to address the country’s energy needs.

NASENI Renewable Energy Industrial Park Underway as Construction Gains Momentum

NASENI’s Renewable Energy Industrial Park, Gora, Nasarawa State

The project occupying a 40-hectare park designed as a multi-energy hub will help curb capital flight and save foreign exchange expenditure by enabling local production of key renewable energy components such as solar panels, mounting racks, wind systems and biomass technologies.

Speaking during an inspection visit on the project site on Tuesday, March 31, 2026, Special Adviser to the Executive Vice Chairman on Renewable Energy, Engr. Suyud Abdullahi Muhammad, who also serves as the Gora Project Manager, disclosed that the initiative is designed to significantly reduce Nigeria’s dependence on imported renewable energy equipment.

“There will be a wind assembly plant, small hydro power equipment production, and solar panel manufacturing; Renewable energy goes beyond just solar, and this park reflects that broader vision,” he said.

Abdullahi noted that the project aligns with NASENI’s goal of reducing energy poverty in Nigeria, where over 80 million citizens remain off-grid, while many connected to the national grid continue to experience inadequate power supply.

The Special Adviser also emphasised on the project’s industrialisation potential, highlighting its role in job creation and value chain development. The park is expected to generate 2,000 direct jobs, with an additional 50,000 indirect employment opportunities across supporting industries when completed.

“This initiative will localise the renewable energy value chain. Instead of relying on imports, Nigeria will begin to produce and eventually export these technologies, starting with the West African market and scaling up to the rest of the continent,” he added.

On sustainability and long-term viability, he revealed that the project is being executed in collaboration with private sector players, academia and other stakeholders, in line with NASENI’s “3Cs” principle of Creation, Collaboration and Commercialisation.

The ongoing construction is being handled by about 35 contracting firms, each handling specific components at varying levels of execution such as Multipurpose Halls for industrial productions, Research and Development (R&D) Centre, Knowledge Park, Energy Centre, Workshops, Researchers Lodge, Studio Apartments, Clinic, Restaurant, Wellness Centre, Solar Farm, Drivers Lounge, Gate House, Internal roads and drainage system and Fencing.

The Gora Renewable Energy Industrial Energy Park is considered a key component of the Federal Government’s Renewed Hope Agenda, aimed at strengthening local manufacturing, enhancing energy security and positioning Nigeria as a renewable energy hub in Africa.


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