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Wema Bank Named 2021 Most Innovative Digital Bank in Nigeria

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Wema Bank emerged the winner of the ‘Most Innovative Digital Bank’ in Nigeria at the 2021 Digital Banker Africa Awards.

Digital Banker Africa, the continent’s premier, magazine and website organizes the Digital Banker Africa Awards to celebrate organisations from across Africa that have stood out from amongst their peers with outstanding innovation, infrastructure and development along with the use of pioneering technology to support their business and customers.

The award’s judging panel comprises professionals with a combined experience of over 110 years of financial and business journalism experience, and is supported by a team of researchers who have ensured that the award winners are the most deserving in their category.

Last month, Africa’s first fully digital bank, ALAT by Wema, was awarded the ‘Most Outstanding Digital Bank Brand of the Year Award’ at the 2021 Brandcom Awards, which honours brands, agencies, and notable individuals in the brands and marketing communications industry who have distinguished themselves with tangible and laudable impact.

This latest award further recognises Wema Bank’s consistent innovativeness in delivering value to its stakeholders, enabling its customers to bank with ease and live their desired lifestyles.

Commenting on the award, Ademola Adebise, the Managing Director/CEO, Wema Bank, said it attests to the bank’s digital growth and confirmation of its position as a leading innovative financial institution.

“We are grateful for this honour recognising our relentless effort in becoming Nigeria’s leading innovative digital bank. We dedicate this to all our customers who trust us and have continuously made us and our game-changing digital bank, ALAT their first choice,” he said.

He said that the award would further motivate Wema Bank to do more in the service of its customers. “This recognition serves as an encouragement for us to continue to build on our successes and invest more in our product offerings.

“We are committed to improving the lives of our customers in every way, enabling them to make it through each day in the best and easiest way possible with our services,” Adebise said.

The Bank’s passion to solidify its position as a leader in the digital banking space has seen it build a robust portfolio of digital solutions tailored to meet a diverse pool of customers and tailor-made to suit the dynamic lifestyles of students, budding entrepreneurs and young professionals.

The Bank was the first to pioneer card control, a solution that allows customers secure their payment cards by locking and unlocking their cards directly from their mobile phones, also offering USSD Banking through its *945# platform.

These achievements and solutions have earned the bank several other accolades including Excellence in Branchless Banking, Digital Banking Platform of the Year and Best and Innovative Digital Solution.


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UK–Nigeria Skills and Schools Trade Mission Concludes with Strong Foundations for Education Partnership

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A high-level UK delegation has concluded a week-long skills and schools trade mission to Nigeria, marking a significant step forward in education and skills cooperation between the two countries.

Running from 19-23 April 2026 across Abuja and Lagos State, the mission brought together leading UK private schools, skills providers, and education institutions with Nigerian partners, schools, and the Honourable Minister of Education Dr Tunji Alausa.

The mission follows the high profile and well received state visit to the UK in March, which also included education engagements.  Supported by the UK’s Department for Business and Trade (DBT), the mission forms part of its new International Education Strategy, under which Nigeria has been identified as one of five priority education markets, spearheaded by Professor Sir Steve Smith, who is looking forward to visiting the country again this year.

The mission focused on in-country delivery of education, the establishment of world-renowned UK schools in Nigeria, and the development of skills and Technical and Vocational Education and Training (TVET) systems aligned with industry demand.

In Abuja, the delegation met with Nigeria’s Honourable Minister of Education, Dr Tunji Alausa, securing strong political backing for UK–Nigeria education partnerships and set the groundwork for ongoing institutional collaboration across both schools and skills.

In Lagos, delegates engaged further with potential partners and investors. In both cities the delegation was thrilled to visit local British curriculum schools and colleges to further enable them to experience first-hand the teaching and learning environment.

British Deputy High Commissioner, Jonny Baxter, said: “The UK and Nigeria share a deep and longstanding relationship, and opportunities in education are one of its most exciting frontiers.

“This mission has demonstrated the strong appetite on both sides to deepen collaboration in education and skills.”

“By bringing together UK schools and skills providers with Nigerian partners and policymakers, we are laying the foundations for even more long-term partnerships that support Nigeria’s education priorities, strengthen skills aligned to industry needs, and create opportunities for sustainable, in-country delivery as well as positioning Nigeria as the regional hub for high quality education.”

DBT Head of International Education, Sarah Chidgey, said: “This mission is a perfect example of the International Education Strategy being put into action, building on multiple two-way visits and the UK and Nigeria’s warm relationship. It has been heartening to see all the progress in UK Nigeria education collaboration since my first visit to Nigeria, as part of a wider delegation, in 2022.”

DBT’s mission concluded with a strong pipeline of follow-up activity, including targeted one-to-one meetings, MoU discussions, and agreed next steps between UK and Nigerian counterparts.

 


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Tinubu Seeks Senate Approval for $516m Sokoto-Badagry Highway Loan

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President Bola Tinubu has requested Senate approval for a $516.3 million foreign syndicated loan to fund key sections of the Sokoto-Badagry superhighway, a cornerstone of his Renewed Hope Agenda.

Tinubu Seeks Senate Approval for $516m Sokoto-Badagry Highway Loan

Tinubu

 

In a letter read by Senate President Godswill Akpabio during Thursday’s plenary, Tinubu invoked Sections 16 and 21 of the Debt Management Office Act, 2011, to secure financing via Deutsche Bank AG for Sections 1, Phase 1A, and 1B. The 1,000-kilometre project will span Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos states, linking Illela to Badagry and boosting trade, connectivity, and goods movement.

The nine-year loan, with a three-year grace period and interest at SOFR plus 5.3 per cent, includes a partial risk guarantee from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC). The Federal Government will provide over ₦265 billion in counterpart funding for land acquisition and infrastructure.

Akpabio referred the request to the Senate Committee on Local and Foreign Debts for a one-week turnaround report. He endorsed the borrowing, stating it advances road safety and national integration.

The highway aims to cut travel times and stimulate economic corridors, with the Federal Executive Council already approving the plan.


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Karex, World’s Top Condom Maker to Hike Prices due to Iran war

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Karex, world’s largest condom maker, plans to raise prices by up to 30 percent due to supply disruptions linked to the Iran war.

Karex, World's Top Condom Maker to Hike Prices due to Iran war

This means that safe sex could get more expensive if the war continues to disrupt global supply chains, according to Goh Miah Kiat, CEO, Karex.

Kiat told old Reuters that rising freight costs and shipping delays have increased demand and forced the company to pass costs to customers.

Broader supply chain issues and higher oil prices could impact many everyday products that rely on petrochemicals.

“The situation is definitely very fragile, prices are expensive… We ​have no choice but to transfer the costs right now to ⁠the customers,” Goh told Reuters.

Karex joins a growing list of companies that are bracing for supply chain disruptions amid the ongoing war in Iran.

Based in Malaysia, Karex produces condoms, personal lubricants, gloves, medical catheters and probe covers.

The company manufactures male latex condoms including ONE, Trustex, Carex and Pasante, and it can produce over 5 billion condoms annually. Karex also exports to more than 130 countries, according to its website.

“We’re seeing a lot more condoms actually sitting on vessels that have not arrived at their destination but are highly required,” Goh said.

 


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