Category Archives: Business

Okonjo-Iweala meets CBN Gov Cardoso over trade matters in Abuja

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The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, on Thursday, August 14, 2025, hosted the Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, at the Bank’s headquarters in Abuja.

The meeting, confirmed in a statement posted on CBN’s official X (formerly Twitter) account, was themed “Discussing Trade Matters.”

Read Also: CBN sanctions 9 banks for failing to dispense cash via ATMs

According to the post, the session was also attended by the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, and Nigeria’s Ambassador to the WTO, Amb. (Dr.) Adamu Abdulhamid.

Although the discussions were held behind closed doors, they centered on trade-related issues and Nigeria’s engagement with global markets.

Formal details of the talks are expected to be released in due course.

Okonjo-Iweala meets CBN Gov Cardoso over trade matters in Abuja
Okonjo-Iweala meets CBN Gov Cardoso over trade matters in Abuja

AfDB commits $40m to drive AGIA green infrastructure fund

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 The African Development Bank (AfDB) has committed 40 million dollars to the Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD), anchoring the Fund’s first close of 118 million dollars.

AfDB Vice President for Private Sector, Infrastructure and Industrialisation, Mr Solomon Quaynor, made this announcement in a statement on Saturday.

Quaynor said the milestone marked a major step in mobilising blended finance to deliver investment-ready green infrastructure projects across the continent.

According to him, the initiative will help accelerate Africa’s transition to a low-carbon and climate-resilient economy.

“The AfDB’s contribution comprises 20 million dollars in grants, 10 million dollars in commercial equity, and 10 million dollars in junior equity from the Sustainable Energy Fund for Africa, which it administers,” he said.

He noted that the Bank’s support was designed to de-risk early-stage projects and attract private sector capital.

“Through the 40 million dollars package spanning grants, junior equity, and commercial equity, the AfDB is pioneering a comprehensive approach to unlock Africa’s vast green infrastructure potential.

“This investment is a bold declaration that the Bank stands ready to share early-stage risk alongside our partners, while mobilising billions in private-sector investment,” Quaynor added.

Africa50 CEO, Mr Alain Ebobissé, said the first close demonstrates AGIA’s shift from ambition to execution since its launch at COP27.

Read Also: AfDB secures N3.4trn for agro-industrial processing in Nigeria

“By unlocking early-stage capital, AGIA will accelerate the development of bankable projects, strengthen local capacity, and pave the way for a more sustainable and prosperous Africa,” he said.

UK Minister of State for Development, Ms. Jenny Chapman, said Britain’s contribution would support African-led solutions in vulnerable communities.

“We are partnering with countries to unlock private investment in the places hardest hit by climate change.

“This will support solar farms, water treatment plants, and other projects that help build stronger, climate-resilient economies,” Chapman said.

Christine de Barros Said, Head of Cooperation at the German Embassy in Maputo, said Germany, through its development bank KfW, was contributing 26 million euro to spur investment.

“AGIA identifies and develops projects until they reach creditworthiness, then sells them to investors.

“This generates vital investments in renewable energy, transport, water, and digitalization, sectors Africa urgently needs to foster growth and create jobs,” she explained.

President of the West African Development Bank (BOAD), Mr Serge Ekue, said his institution’s involvement reaffirmed its commitment to bridge the infrastructure gap in the region.

“BOAD’s commitment to supporting Africa50 in implementing AGIA underscores our dedication to closing Africa’s infrastructure gap and fostering private sector investment in innovative projects,” he said.

Mr Mark Gallogly, Co-founder of the Three Cairns Group, highlighted the challenge AGIA aimed to solve: “The lack of bankable projects remains a persistent barrier to scaling clean energy and climate-resilient infrastructure.

“AGIA’s first close marks a significant milestone in tackling the challenge,” Gallogly noted.

Ms. Georgia Keohane, CEO of the Soros Economic Development Fund, described AGIA as a vital Africa-led initiative.

“The Soros Economic Development Fund is proud to support AGIA, a critically important partnership catalysing transformative projects that enhance climate resilience and drive inclusive, sustainable development,” she said.

Jointly led by the AfDB, African Union Commission, and Africa50, the AGIA initiative aims to raise 500 million dollars to unlock a 10 billion dollars pipeline of infrastructure projects across energy, sustainable transport, water, and ICT sectors.

(NAN)

AfDB secures N3.4trn for agro-industrial processing in Nigeria

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 Africa Development Bank (AfDB) and its partners have mobilised 2.2 billion dollars (about N3.4 trillion) to implement special agro-industrial processing zones in Nigeria.

Dr Akinwumi Adesina, the outgoing President of AfDB disclosed this in a paper presented at the 2025 Standard Chartered Bank Africa Summit recently held in Lagos.

In a copy of the presentation obtained by the News Agency of Nigeria (NAN), Akinwumi said the fund would be deployed to implement the phase two of the special agro-industrial processing zones covering 24 states.

He recalled that the bank and its partners had supported the launch of the special agro-industrial processing zones in the first eight States – Ogun, Oyo, Cross Rivers, Imo, Kaduna, Kwara, Kano and the Federal Capital Territory-.

Adesina, a former Minister of Agriculture and Food Security, said the initiative would revolutionise Nigeria’s agricultural sector by enhancing food security, boosting domestic production and creating thousands of employment.

According to him, investments are needed to unlock the agricultural potential in Nigeria and Africa in general, especially for value addition to agricultural commodities.

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To achieve that, he emphasised the need for the development of industrial platforms that would allow the continent to move up the agricultural value chains.

“The AfDB is investing massively in the development of Special Agro-industrial Processing Zones across Africa, enabled with infrastructure to support the establishment of industries to process and add value across a wide range of agricultural products.

“The bank has committed over 934 million dollar towards the development of the special agro-industrial processing zones.

“We have mobilised co-financing of 938 million dollar from partners, including the International Fund for Agricultural Development, the Islamic Development Bank, Japan International Cooperation Agency, and the West African Development Bank.

“We have also launched together with partners, the Alliance for Special Agro-Industrial Processing Zones to accelerate the development of these zones across Africa, with 3 billion dollar in commitments,’’ he said..

The AfDB President also disclosed that development of the special agro-industrial processing zones is ongoing in 27 sites across 11 countries in Africa.

(NAN) 

Naira weakens against Dollar as week closes

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The Nigerian Naira ended the week slightly weaker against the US dollar at the official foreign exchange market, slipping by 19 kobo on Friday.

According to data from the Central Bank of Nigeria (CBN), the local currency closed at ₦1,533.74 per dollar, compared to ₦1,533.55 recorded the previous day.

Throughout the week, the Naira experienced marginal fluctuations. On Wednesday, it traded at ₦1,534.52/$, a slight dip from Tuesday’s ₦1,533.18/$. The week had opened on a positive note, with the currency trading at ₦1,534.20/$ on Monday, but it eventually ended in a minor decline.

Read Also: CBN sanctions 9 banks for failing to dispense cash via ATMs

Currency analysts say the subtle movements reflect persistent pressures in the foreign exchange market, driven by factors such as high import demand, global oil price trends, and ongoing economic policies.

The CBN has maintained that it will continue to monitor the market closely and intervene when necessary to stabilize the Naira and support overall economic growth.

Experts warn that even small shifts in exchange rates could influence import costs and inflation levels, which traders and consumers will be watching closely in the coming days.

Unmasking Nigeria’s Food Safety Crisis: A Dual Pathway to Public Health and Global Competitiveness

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Nigeria, often heralded as Africa’s economic powerhouse and most populous nation, is grappling with a silent epidemic that exacts a devastating toll on its citizens and stifles its economic potential: a pervasive food safety crisis. This isn’t merely a matter of occasional discomfort; it’s a grim reality where over 200,000 Nigerians perish annually from foodborne illnesses, inflicting an estimated economic burden of US$3.6 billion each year. The current state of food safety is not just a public health nightmare; it’s a significant impediment to the nation’s economic growth and global trade aspirations, demanding immediate, comprehensive attention.

The challenges plaguing Nigeria’s food supply chain, from farm to fork, are multifaceted and deeply entrenched. Across the vast landscape, inadequate practices, weak enforcement mechanisms, and a widespread lack of awareness among both consumers and food handlers contribute to this grave situation. Unhygienic food handling, poor storage conditions, and the pervasive use of contaminated raw materials are disturbingly common, particularly within the vast informal food sector. This sector, a lifeline for many Nigerians, often operates without the most basic amenities, such as running water, adequate refrigeration, or proper waste disposal. The problem is further compounded by insidious issues like food fraud, deliberate adulteration of products, and the indiscriminate misuse of agrichemicals, leading to numerous documented cases of mass poisonings and tragic deaths across the country. A critical and alarming finding is the glaring absence of an organized system for monitoring food safety issues. This systemic failure means that incidents are often misclassified, under-investigated, and consequently, the true scope of the problem remains obscured.

Beyond the immediate public health ramifications, the ramifications of Nigeria’s weak phytosanitary policies and inadequate regulatory oversight ripple into the international arena, costing the nation millions in lost export revenue. The repeated rejection of Nigerian agricultural products by discerning international markets, including the EU, US, and various Asian countries, due to contamination from pesticides, aflatoxins, and pest infestations, severely limits market access and fundamentally undermines the nation’s agricultural competitiveness. The seven-year EU ban on Nigerian bean exports, initiated in 2015 and costing the country millions, stands as a stark and painful reminder of these systemic failures. It underscores the urgent need for a robust and internationally recognized food safety framework if Nigeria is to truly unlock its agricultural potential on the global stage.

Read Also: Can urban farming contribute meaningfully to Nigeria’s food security? 

Crucial regulatory bodies like the National Agency for Food and Drug Administration and Control (NAFDAC) and the Standards Organisation of Nigeria (SON), along with policies such as the National Policy on Food Safety (NPFS), are in place to ensure food safety in Nigeria. However, their full effectiveness faces ongoing challenges in implementation and enforcement.

These challenges often stem from overlapping responsibilities, insufficient funding, and a need for greater collaboration among the various agencies. Additionally, current legislation lacks comprehensive traceability requirements, which can make it difficult to identify the origin of contamination and assign accountability. Furthermore, certain traditional cultural practices sometimes present a barrier to the widespread adoption of modern, hygienic food handling standards.

Overcoming these formidable hurdles requires a concerted, multi-pronged strategy. For customers, fostering a culture of food safety is imperative. A pivotal step in addressing this crisis lies in empowering consumers through comprehensive public awareness campaigns and readily accessible food safety education. These initiatives must be presented in simple, digestible formats, perhaps through a “food safety culture toolkit” that demystifies complex information. Education should emphasize the critical importance of personal hygiene, safe food handling, proper storage, and effective preparation practices, all aligned with the World Health Organization’s (WHO) internationally recognized “Five Keys to Safer Food.” Also, promoting the widespread adoption of robust risk assessment and management tools, such as Hazard Analysis and Critical Control Points (HACCP) systems, is vital for food businesses of all sizes. This proactive approach can significantly mitigate risks throughout the food production process.

For market competitiveness, elevating standards and enforcement should be the goal. To enhance Nigeria’s global market competitiveness, a strategic focus on strengthening regulatory oversight is paramount. This includes substantial investment in modern testing and quarantine infrastructure, which is essential for meeting stringent international standards. Furthermore, establishing a more coordinated and effective phytosanitary enforcement authority will streamline processes and ensure compliance. By improving these standards, Nigeria can drastically reduce export rejections, enhance its credibility in global trade, and unlock immense opportunities presented by schemes like the UK’s Developing Countries Trading Scheme (DCTS), which offers duty-free access to over 3,000 Nigerian products. Crucially, enacting the comprehensive National Food Safety and Quality Bill is a vital legislative step, along with ensuring greater involvement and capacity building for state and local authorities in food safety enforcement.

By prioritizing food safety, Nigeria stands at a critical juncture where it can not only safeguard the health and well-being of its citizens but also significantly boost its agricultural exports, attract much-needed foreign investment, create sustainable jobs, and ensure overall economic prosperity. This is not merely a regulatory issue; it is a fundamental pillar of national development. 

Airbus strengthens Africa operations with new Johannesburg Customer Centre

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Airbus has officially opened a new Customer Support Centre dedicated to commercial aircraft in Johannesburg, marking a major milestone in nearly five decades of partnership with Africa’s aviation sector.

The facility will bring Airbus closer to airline customers across the continent, enhancing customer proximity and offering a full range of services to help operators maintain safe, efficient, and reliable fleets. The centre will provide technical assistance, engineering and maintenance solutions, fleet performance analysis, training services, and on-site customer support for all Airbus commercial aircraft families, including the A220, A320, A330, and A350.

“The new centre expands Airbus’ presence in Africa and underscores our confidence in the region’s potential, as we invest in local capabilities, empower our customers, drive connectivity and shared progress across the continent,” said Gabriel Semelas, President of Airbus in the Middle East and Africa.

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Airbus has been present in Africa since 1976, when the first A300 was delivered to the continent. Today, nearly 40 airlines operate more than 260 Airbus aircraft. According to its Global Services Forecast, Airbus foresees in the next 20 years on the African continent, a need for 14,000 new pilots and 21,000 mechanics and engineers to face the surge in air travel demand.

The opening coincides with Airbus Helicopters celebrating 30 years of service and innovation in Southern Africa, where the Midrand hub provides maintenance, spare parts, logistics support, and Africa’s first H125 virtual reality simulator for pilot training.

Airbus Defence and Space also continues to support African governments with military aircraft, Earth observation services, and satellite connectivity solutions.

With more than 180 African suppliers integrated into its global supply chain, Airbus continues to play a key role in developing the continent’s aerospace capabilities. From component manufacturing and maintenance services to training partnerships and technology transfer, Airbus’ industrial presence supports job creation, skills development, and local economic growth across Africa.

NNPC remits N6.96tn to federation in five months, records N905bn profit for June

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The Nigerian National Petroleum Company Limited (NNPC Ltd.) has disclosed that it remitted N6.96 trillion to the Federation Account between January and May 2025, underscoring its vital role in funding the government amid ongoing economic reforms.

According to its June Monthly Report released on Monday, the state oil firm posted a Profit After Tax (PAT) of N905 billion for June 2025. This figure represents a drop from the N1.054 trillion reported in May, reflecting market volatility.

Despite the decline in monthly profits, the cumulative remittance to the Federation Account rose sharply, up from N5.58 trillion in April to N6.96 trillion in May, highlighting strong performance over the five-month period.

The report showed a rebound in upstream activities, with average daily crude oil and condensate production increasing to 1.68 million barrels per day (bpd) in June, compared to 1.63 million bpd in May. This marks the highest production level since the beginning of the year.

Read Also: Petrol price rises to N1,150 per litre after Dangote Refinery’s hike

Natural gas production also improved, reaching 7.58 billion standard cubic feet per day (scf/d) in June, up from 7.35 billion scf/d in May.

Revenue for the month stood at N4.57 trillion, down from N6 trillion recorded in May—attributed to fluctuations in the global oil market.

Petrol supply to NNPC retail stations saw a notable improvement, with availability climbing to 71% in June from 62% in May.

Progress was also reported in key gas infrastructure projects. The Ajaokuta–Kaduna–Kano (AKK) gas pipeline is now 83% completed, up from 81%, while the OB3 pipeline maintained a 96% completion rate. The successful River Niger crossing on the AKK project has reduced major risks to final delivery.

Meanwhile, upstream pipeline availability saw a marginal dip to 97% in June, from 98% in May. The company also began a technical review of the OB3 River Niger segment to replicate lessons from the AKK project.

Refinery rehabilitation projects in Port Harcourt, Warri, and Kaduna remain ongoing, with technical reviews continuing.

In terms of Corporate Social Responsibility, the report revealed that NNPC trained over 67,000 members of the National Youth Service Corps (NYSC) in June as part of its Financial Literacy Programme, raising the total number trained to 870,383.

NNPC noted that all figures are provisional and subject to reconciliation with relevant stakeholders.

This performance, the report added, reinforces NNPC Ltd.’s strategic importance as a key revenue driver for the federal government amid fiscal pressures and structural reforms.

Can urban farming contribute meaningfully to Nigeria’s food security? 

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Nigeria, Africa’s most populous nation, faces a complex web of food security challenges. Soaring food inflation, exacerbated by climate extremes, persistent insecurity in food-producing regions, and an inadequate supply of nutritious foods, has pushed millions into acute hunger. Despite vast agricultural resources, the country ranks low on the Global Food Security Index, underscoring a critical need for innovative solutions. Amidst this backdrop, urban farming, often dismissed as a niche activity, is gaining traction as a strategy to enhance food security, create income opportunities, and promote sustainable practices in urban areas.

Urban farming, encompassing a range of practices from rooftop gardens and vertical farms to community plots and aquaculture, offers the potential to localise food production, reduce reliance on distant supply chains, and enhance access to fresh, nutritious produce. As Nigerian cities continue to urbanise, converting agricultural land to other uses, the importance of maximizing food production within urban limits becomes crucial.

One of the most immediate and impactful contributions of urban farming is its ability to enhance food availability and access. By cultivating crops within city limits, fresh produce can reach consumers more quickly, drastically reducing post-harvest losses and transportation costs. This localised production directly addresses issues of food scarcity, especially for vulnerable urban populations who often struggle with the high cost and limited availability of fresh food. Successful initiatives in Lagos for instance have demonstrated how urban farms can become reliable sources of fruits, vegetables, and even protein through urban livestock and aquaculture for surrounding communities.

Beyond mere availability, urban farming plays a crucial role in improving nutritional outcomes and dietary diversity. Access to fresh, diverse produce encourages healthier eating habits, helping to combat prevalent issues like protein-energy malnutrition and micronutrient deficiencies. When families cultivate their own food, they gain greater control over its quality and freshness, often opting for more nutritious varieties. This direct link between cultivation and consumption can lead to a measurable increase in dietary diversity within urban households.

Urban farming is not just about subsistence; it holds substantial economic promise and fosters job creation. It directly generates employment opportunities in various stages, including planting, harvesting, processing, and distribution. Small-scale urban farmers can sell their surplus produce at local markets, generating income and fostering entrepreneurship. This can be particularly impactful for Nigeria’s large youth population, offering a viable path to employment and self-reliance in a landscape of high unemployment. Initiatives that provide training and access to markets, like “FarmInTheCity” in Lagos, exemplify how urban farming can blossom into full-scale enterprises.

Read Also: Nigeria’s inflation rate drops to 22.22% in June — NBS

Urban farming contributes significantly to environmental sustainability and climate resilience. Innovative urban farming techniques, such as hydroponics and vertical farming, are inherently resource-efficient, using less land and water compared to traditional agriculture. They also reduce “food miles,” significantly lowering carbon emissions associated with long-distance transportation. Additionally, urban green spaces created by farming initiatives can help mitigate the urban heat island effect, improve air quality, and enhance urban biodiversity. This makes urban farming a crucial component of climate adaptation strategies, helping cities become more resilient to the impacts of climate change, such as erratic rainfall patterns and prolonged droughts that affect traditional agriculture.

Finally, community gardens and collaborative urban farming projects serve as powerful tools for fostering community cohesion and social impact. They provide shared spaces where residents can connect, build knowledge, and foster a sense of community pride and ownership. These initiatives can also serve as educational platforms, promoting sustainable practices and raising awareness about local food systems. This collaborative spirit can be particularly beneficial in diverse urban settings, breaking down social barriers and strengthening community bonds.

For Urban farming to work in Nigeria, policy support and integration are crucial. Governments at all levels need to recognize urban farming as a legitimate and vital part of the food system. This involves developing supportive policies, streamlining land-use regulations, and integrating urban agriculture into city planning. Second, capacity building and education are essential. Investing in education and training programs is vital.

Access to finance and technology is a significant factor for urban farmers. Innovative financing models, perhaps incorporating “pay-as-you-grow” schemes for technology adoption, are needed. Also, leveraging technology like mobile apps for market access can significantly boost productivity. Lastly, adequate infrastructure, including reliable energy sources and efficient storage facilities, is crucial to minimize post-harvest losses and ensure the economic viability of urban farms. 

Urban farming in Nigeria is more than just a passing trend; it can represent a tangible and impactful pathway towards enhanced food security. By embracing innovative approaches, fostering supportive policies, and empowering urban communities with the necessary resources and knowledge, Nigeria can unlock the immense potential of its cities to feed their populations, create economic opportunities, and build a more resilient and sustainable future. The revolution of urban farming, if nurtured effectively, can indeed contribute meaningfully to Nigeria’s quest for food security.

Growing Financial Crisis: Over 70% of Nigerian cooperatives still use manual collections methods

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Millions of Nigerians who depend on cooperative societies for credit and savings are at growing risk of financial setbacks, as manual dues collection methods remain the norm across the country. A 2024 study from Nnamdi Azikiwe University (source) revealed that over 70% of cooperatives still rely on handwritten ledgers and informal cash contributions—leaving them exposed to defaults, disputes, and operational breakdowns. Even outright theft is not uncommon.

Cooperatives are vital financial safety nets for millions of Nigerians, especially in underbanked communities. But as default rates rise and reconciliation periods become chaotic, a growing number of cooperatives are reevaluating how they operate—and turning to technology for help.

“We use notebooks and WhatsApp to track payments,” says Iyabo Adebayo, treasurer of a 70-member women’s cooperative in Ibadan. “If someone misses their payment, it takes me days to follow up. Sometimes I just give up.”

This challenge isn’t isolated. The same 2024 study documented how manual tracking of dues and loans in staff cooperatives significantly reduced liquidity and increased the rate of defaults. During peak periods like June—when many cooperatives conduct financial audits—the consequences of poor tracking become more severe.

Read Also: Wema named best digital bank at Euromoney awards 2025

Recognising this pattern, a growing number of cooperatives are now implementing mandate-based systems like PaywithAccount, a direct debit payment tool developed by OnePipe. The platform enables members to authorise automated deductions for recurring dues, removing friction, improving predictability, and reducing administrative overhead.

“The moment we switched to a structured mandate system, collections became smoother,” says Emeka Chukwu, who oversees a transport workers’ cooperative in Enugu. “It gives us peace of mind. No more excuses.”

Speaking on the trend, Ope Adeoye, CEO of OnePipe, said this trend portends a deeper systemic issue. “When treasurers spend more time chasing payments than managing funds, the model begins to collapse. It’s encouraging to see more cooperatives adopting direct debit tools like PaywithAccount. The increase in uptake reflects a real need—people want structure they can trust, especially in these tough economic times.”

Industry experts believe such solutions could help stabilize grassroots finance. “When dues are predictable, planning becomes possible,” says Temi Adedeji, a digital finance consultant. “It means more loans issued, better savings discipline, and less stress for treasurers.”

As Nigeria’s cooperatives approach their mid-year audits and dividend planning cycles, the need for more resilient, automated collection systems is becoming harder to ignore.

Wema named best digital bank at Euromoney awards 2025

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Wema Bank’s ALAT, the first fully digital bank in Africa, has been recognized as Nigeria’s Best Digital Bank at the Euromoney Awards 2025.

Euromoney is a leading provider of competitive intelligence and benchmarking insight for the global banking and finance industry, trusted for over 50 years to deliver data-led analysis that informs strategy, validates performance, and supports decision-making at the executive level.

ALAT has revolutionized the banking landscape in Nigeria and globally, providing seamless and convenient financial services to individuals and businesses.

Since its launch in 2017, ALAT has evolved into a holistic hub of lifestyle and financial solutions, offering a range of services including transfers, airtime and data purchases, bill payments, and loans.

Speaking at the award ceremony in London, Wema Bank’s Managing Director and CEO, Moruf Oseni, expressed gratitude to the Euromoney Awards for recognizing the bank’s impact on digital innovation in Africa.

He reiterated the bank’s commitment to developing digital solutions for societal impact and shaping the future of banking.

“The world is moving fast, and so is the permeation of ‘digital’ into the most critical aspects of our lives. 80 years ago when Wema Bank was established, typewriters were the extent of banking technology.

“Today, we have pioneered a fully digital bank, and possess technology advanced enough to power over 150 FinTechs. In ten years, one can only imagine what this fast-paced digital economy will bring.

“One thing is clear, any business, venture or institution that will remain relevant by the end of the next decade, must leverage digital technology today.

“This is why Wema Bank is so driven when it comes to digital. Innovation and empowerment.

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 “As a Bank, our stance is clear. Wema Bank will never relent in empowering lives through innovation and developing digital solutions for societal impact.

“We will continue to pioneer innovation, empower innovators and bridge the gap between traditional and digital, leveraging the opportunities of the digital world to generate meaningful impact on lives and businesses in Nigeria, Africa and across the world.

“We have remained resilient in this commitment since 1945 and this award tells us that the world is feeling our impact.

“We are honoured by this recognition, and I take this opportunity to extend our sincerest gratitude to the Euromoney Awards. We take this as a challenge to keep up the good work, go harder, and continue going above and beyond in shaping the future of banking through digital innovation.

“Here’s to 80 years of impact and a future of limitless possibilities with Wema Bank.”

Wema Bank has been a pioneer in digital innovation, launching several industry-firsts, including ALAT, ALAT For Business App, CoopHub App, Wema Phygital, ALATPay, and the ALAT Xplore App.

The bank’s commitment to digital innovation has positioned it as a leader in the Nigerian banking industry.

The Euromoney Awards are a prestigious recognition of excellence in the banking and finance industry. Wema Bank’s ALAT is a testament to the bank’s commitment to innovation and customer satisfaction.