E-Financial
The Alternative Bank, Utiva Partner on Scholarships to Boost Digital Skills for Women
The Alternative Bank (‘AltBank’) has announced the launch of The Alternative Bank-Utiva Women in Tech Scholarship, a landmark initiative designed to empower women entrepreneurs with digital skills, innovation design, and business growth training. The announcement was made during a high-level virtual convening held over the weekend to commemorate the International Day for Rural Women.
The scholarship programme, which begins in November 2025, forms part of the Bank’s wider Corporate Social Investment commitment to bridge gender and digital divides, equipping women with tools to scale their enterprises and strengthen their participation in the emerging digital economy.
Speaking during the event, Korede Demola-Adeniyi, Executive Director (South) at The Alternative Bank, described the initiative as both symbolic and strategic. “Women are the heartbeat of food systems, the lifeline of families, and the silent architects of community resilience,” she said. “Empowering rural women is a moral imperative as much as it is smart economics and a cornerstone of sustainable national growth. The doors of The Alternative Bank remain open, ready to partner, finance ideas, and co-create sustainable solutions that empower women and strengthen communities,” Demola-Adeniyi added.
Eyitayo Ogunmola, Chief Executive Officer of Utiva, expressed optimism about the partnership’s potential to redefine access to digital opportunities for women, saying, “At Utiva, we believe that when women are equipped with the right digital skills, they don’t just transform their businesses they transform their communities. This partnership with The Alternative Bank is about creating pathways for inclusion, innovation, and long-term economic empowerment for women who are shaping the future of enterprise in Africa.”
The virtual convening, themed ‘Rural Women and MSMEs: Driving Sustainability, Strengthening Economies, Securing Our Shared Tomorrow,’ brought together thought leaders, policymakers, and development partners to celebrate, empower, and advocate for rural women across Nigeria and Africa. The event aligned with the global observance of the United Nations’ Rural Women’s Day.
Hon. Gift Johnbull, Senior Special Assistant to the President on Community Engagement (South-South), reaffirmed the Nigerian Federal Government’s commitment to women’s empowerment. “Women in our rural areas are farmers because most of our rural communities are agrarian communities, and they are the reason why we have food in our cities and on our tables. They make up to 70% of our food system in this country and worldwide. Yet they are facing barriers like access to education, finance, and other productive opportunities. We acknowledge that and are making progress to ensure these barriers are totally eradicated from our society,” she stated.
From the United Nations, Osalobo Osemhenjie, Programme Specialist at UN Women, highlighted ongoing interventions supporting women’s economic advancement and called for a joint stakeholder effort to address existing gaps. “Let us commit to changing this narrative by investing in rural women’s leadership, expanding access to finance, fostering digital and entrepreneurial skills, [providing] mentorship programmes for young women and consultancy services through affirmative procurement. Only then will we unlock a future that is not only sustainable but equitable,” she said.
A key highlight of the event was the thematic presentation by Kemi Ayanda, Economic Development and Trade Strategist for Africa and the Middle East. She challenged participants to rethink traditional development models, asserting that true transformation begins not with funding but with reimagining systems that recognise resilience as an economic asset and women as critical stabilisers.
Other notable speakers included Her Excellency Hajia Fatima Dikko Radda, wife of the Executive Governor of Katsina State; Mrs. Ellen T. Johnson, Country Head of Commonwealth Businesswomen Africa (Gambia); Judith Libaisi Kayoni, Global Rural and Social Development Expert (Kenya); Dr. Hadiza Yaro, Anglophone West Africa Sales Manager, SAKATA Vegetables Europe SAS, and Ameena Buhari-Mohammed, Private Banking & Wealth Management Lead at The Alternative Bank.
The Alternative Bank’s observance of the International Day for Rural Women underscores its mission to drive sustainable, inclusive, and ethical finance models that unlock opportunities for women-led enterprises, strengthen local economies, and contribute to Nigeria’s long-term digital and economic resilience.
Africa Prudential Plc has launched Sabivest, a digital shareholder and investment management application, as part of efforts to deepen access to investment opportunities and enhance transparency in Nigeria’s capital market.
Unveiled in Lagos, the platform is designed to provide investors with a centralised system for managing shareholdings and tracking portfolio performance across multiple investment products.
At the launch, the Chairperson of Africa Prudential Plc, Christabel Onyejekwe, said the initiative reflects the company’s commitment to leveraging innovation to improve investor experience and participation.
“Sabivest provides a unified ecosystem that enables individuals and institutions to seamlessly access, monitor and grow diversified financial assets through a single interface,” she said, describing the platform as a significant step in advancing digital transformation within the capital market.
The Managing Director, Catherine Nwosu, noted that the application, which is available for download on both iOS and Android platforms, was developed to address structural challenges that have continued to limit investor efficiency, including fragmented investment accounts, restricted access to diverse financial instruments, and inadequate visibility into portfolio performance.
According to her, the platform aggregates multiple investment services, offering users real-time insights and control through a centralised dashboard.
She added that Sabivest features consolidated portfolio views, performance tracking, asset allocation insights, and electronic dividend management, alongside tools for monitoring, documenting, and recovering unclaimed dividends.
The launch also featured a roundtable session themed, “Building Trust and Driving Innovation in Nigeria’s Capital Market,” where stakeholders emphasised the importance of technology-driven solutions in strengthening investor confidence and expanding market participation.
Transnational Corporation Plc (“Transcorp Group” or the “Company”) (NGX: TRANSCORP), Africa’s leading listed conglomerate with strategic investments in power, hospitality and energy, has declared a total dividend of ₦20,323,995,148, representing ₦2.00 per share to its shareholders, at its 20th Annual General Meeting (AGM), held at the new state-of-the-art Transcorp Centre Abuja.
Group Chairman, Mr Tony O. Elumelu, CFR; President/Group CEO,, Mrs. Owen D. Omogiafo, OON; and Company Secretary, Ms. Atinuke Kolade, during the 20th Annual General Meeting (AGM) of Transnational Corporation Plc( Transcorp Group) held in Abuja at the weekend
The total dividend comprises an interim dividend payment of ₦4,064,799.030, representing 40 kobo per share, paid in August 2025, together with a final dividend of ₦16,259,196,118, equivalent to ₦1.60 per share.
At the AGM, where the shareholders approved the Audited Financial Statements for the year ended December 31, 2025, the Group Chairman of Transcorp Plc, Mr Tony O. Elumelu, CFR, restated the company’s commitment to delivering sustainable long-term value creation as shareholders commended the conglomerate and its management for sustained performance.
In 2025, the Group, with a combined market capitalisation of ₦4.78 trillion ($3.52 billion) as of May 7, 2026, recorded strong year-on-year growth across all key metrics. Revenue increased by 33% to ₦544 billion (FY 2024: ₦408 billion). Profit Before Tax rose 31% to ₦179.5 billion (FY 2024: ₦136.7 billion), while Profit After Tax surged 44% to ₦135.9 billion (FY 2024: ₦94.1 billion)
Group Chairman, Mr Tony O. Elumelu, CFR; President/Group CEO,, Mrs. Owen D. Omogiafo, OON; and Company Secretary, Ms. Atinuke Kolade, during the 20th Annual General Meeting (AGM) of Transnational Corporation Plc( Transcorp Group) held in Abuja at the weekend
Mr. Tony O. Elumelu, CFR, Group Chairman, Transnational Corporation Plc said: “Transcorp Group remains firmly focused on strong corporate governance and the disciplined execution of its strategic priorities to deliver sustainable, long-term value. Despite a challenging macroeconomic environment, the Group continues to benefit from its diversified portfolio, which has underpinned resilient financial performance in 2025.
Mrs. Owen D. Omogiafo, OON, President/Group CEO, Transnational Corporation Plc said: “FY 2025 was a year defined by disciplined execution, strategic resolve, and resilient performance. Transcorp Group is committed to resolving the energy crisis in Nigeria; we have an energy situation, and the gap between the demand and supply is still very wide. Hence, we will continue to work assiduously and tirelessly towards bridging that gap, creating value for the wider country.
In our hospitality business, the 5,000-seat capacity Transcorp Centre hosting us today is a testament to our disciplined execution, and you will see more in the coming years.
While commenting on the performance, one of the shareholders, Mrs E. O. Obideyi, commended the management of Transcorp Group, saying, “I commend the management and staff of Transcorp for sustained performance year-on-year. While we appreciate the Board, I am also extending my commendation to the members of staff of Transcorp for a job well done.”
Another Shareholder, Mr Moses Igrude, commended the Board, Management and Staff of Transcorp Plc. He said: “I appreciate the vision behind Transcorp and what it has become. When I look at the history, and how far it has come under Mr Tony Elumelu’s leadership, I am proud that the aim and objectives are being achieved. That payoff line, ‘Improving lives and transforming Africa,’ is a reality we are witnessing.
Transnational Corporation Plc (Transcorp Group) is one of Africa’s leading listed conglomerates, with strategic investments in power, hospitality and energy, driven by its mission to improve lives and transform Africa.
The Group’s power businesses — Transcorp Power Plc and Transafam Power — provide over 20% of Nigeria’s installed power capacity. Transcorp is also advancing Nigeria’s domestic energy value chain through its investment in OPL281. Its hospitality subsidiary, Transcorp Hotels Plc, owns the iconic Transcorp Hilton Abuja and the landmark Transcorp Centre Abuja.
International Monetary Fund (IMF) has warned that artificial intelligence (AI) is significantly increasing the danger of cyberattacks on the global financial system.
Pic credit… saturnpartners
According to a blog post from the IMF, these AI-driven threats could turn isolated security breaches into severe economic disruptions, potentially freezing payments, shaking markets, and undermining public trust in banks worldwide.
In its analysis, the fund highlighted a specific example involving the controlled release of an advanced AI model called Claude Mythos Preview by Anthropic.
The IMF noted that this model demonstrated the ability to identify and exploit weaknesses in all major operating systems and web browsers, even when used by individuals without specialized expertise.
The IMF cautioned that AI could heighten risk concentration within the financial system.
A single exploited vulnerability might cascade across numerous institutions simultaneously due to heavy reliance on a limited number of cloud providers, software platforms, and AI models.
Such events could escalate from operational issues to macro-financial shocks, triggering confidence crises, liquidity problems, and fire-sale dynamics in markets. The organization also acknowledged that AI forms part of the solution.
As attackers operate at machine speed, financial institutions are deploying their own AI-assisted tools for threat detection, fraud prevention, and faster incident response.
The IMF highlighted a geopolitical dimension to the threat, noting that cyber risk crosses national borders and that inconsistent oversight among countries could weaken the globally interconnected financial system.
Emerging economies, often with limited resources, may face disproportionate exposure.
The fund urged policymakers to treat cybersecurity as a core financial stability concern rather than a technical or operational matter.
It called for prioritization of resilience standards, systemic supervision, and international coordination to contain breaches before they spread.
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