The Nation Newspaper

Category: Money

  • Zenith Bank lights up Ajose Adeogun for Yuletide

    Zenith Bank lights up Ajose Adeogun for Yuletide

    Zenith Bank has once again set the stage for the Yuletide season with the Light-Up of Ajose Adeogun Street and Roundabout, Victoria Island, Lagos on Saturday, November 23.

    The Light-Up ceremony performed by the Group Managing Director/Chief Executive of Zenith Bank Plc, Dame Adaora Umeoji, aligned with the bank’s annual tradition.

    The Light-Up ceremony is a Corporate Social Responsibility (CSR) initiative of Zenith Bank. Now in its 18th year, the beautiful Christmas decoration, which transforms the entire stretch of Ajose Adeogun Street (home to Zenith Bank’s Corporate Headquarters) and Roundabout into a breathtaking yuletide wonderland.

    The exercise has come to be recognized as an iconic tourist attraction, bringing visitors from far and wide who visit with their families and friends to take pictures and enjoy the ambience of the street.

    Speaking during the ceremony, Umeoji said “Over the years, Zenith Bank has hosted this spectacular event, transforming the entire Ajose Adeogun Street into a breathtaking yuletide wonderland. Our beautiful and elaborate Christmas decorations have become a centre of attraction and shared on social media platforms globally.

    As we light up the street tonight, we celebrate the essence of Christmas and Zenith Bank’s unparalleled CSR. Our customers will always be at the centre of all that we do in Zenith Bank.” She urged everyone to imbibe the message and spirit of Christmas which is about love, kindness, generosity and respect for humanity, and thanked the Lagos State Government for creating an enabling environment for the initiative.

    She also praised the efforts of Quantum Markets, who have been responsible for the annual decorations, for their expertise and creativity in putting together the lovely decorations. In her words, “I want to thank the management of Quantum Markets for all the beautiful, creative and innovative ideas they keep coming up with. Quantum Markets always make it bigger and better every year, and we are always looking forward to it.”

    Read Also: Ogbomro Grammar School win Zenith Bank/Delta Principals’ Cup:

    Zenith Bank remains committed to furthering the economic, cultural and social development of its host communities. The bank’s sustainability and CSR initiatives are hinged on the belief that today’s business performance is not all about the financial numbers – the bank believes that an institution’s social investments, contributions to inclusive economic growth and development as well as improvements in the condition of the physical environment, all constitute a balanced scorecard.

    As a testament to its contributions and social investments in its host communities and the society at large, the bank was recognised as the “Most Sustainable Bank, Nigeria” in the 2023 and 2024 International Banker Banking Awards and “Most Responsible Organization in Africa” at the Sustainability, Enterprise, and Responsibility (SERAS) Awards 2021.

  • FCMB, EStars partner on electronic sports in schools

    FCMB, EStars partner on electronic sports in schools

    First City Monument Bank (FCMB) is working with EStars to bring esports education to Nigerian schools. They want to introduce Nigerians aged seven to 14 across primary and secondary schools to essential skills for thriving in a digital world early in life.

    EStars launched its educational esports platform in Nigeria on July 16, 2024. The platform provides a fun and structured way for students to learn teamwork, communication, and problem-solving through gaming. These skills are essential for success in today’s world but are often not a focus in traditional classrooms.

    The EStars platform is safe and helps students to immerse themselves in skill-building activities. It includes tournament management tools, team collaboration functionalities, and resources for integrating esports into school curricula. It also offers coaching and training materials to help students develop their esports skills and explore potential career pathways in the growing esports industry.

    Many schools embrace esports as a formal extracurricular activity or incorporate it into their curriculum. Esports can help students learn about science, technology, engineering, and mathematics (STEM). Some schools use games like Minecraft to teach students how to code.

    Mrs. Yemisi Edun, Managing Director of FCMB, commented on the partnership: “EStars has brought a fun and innovative way to advance students’ knowledge and life skills.

    This platform allows schools to harness the power of play to cultivate a love for learning.”

    Read Also: FCMB offers ₦30m clean energy loans for homes, SMEs 

    This initiative aligns with FCMB’s commitment to fostering education and youth development in Nigeria. Mrs. Edun added, “At FCMB, we believe in equipping the next generation with the skills they need to thrive in the age of AI and automation. We are not just preparing them for the future but empowering them to shape it.”

    EStars’ founder, Mags Byrne, echoed this sentiment: “Our mission is to empower young minds with the knowledge and skills they need to thrive in the esports industry and beyond.”

    The partnership aims to bridge the gap between traditional education and the burgeoning esports industry, providing students with valuable skills and potential career pathways. As Jonny Baxter, British Deputy High Commissioner, noted during the platform’s official launch event in July, “Esports is now fully professional and is expected to contribute significantly to the UK economy. We are happy to support EStars in partnering with Nigerian schools.”

  • CITN urges accountability, transparency

    CITN urges accountability, transparency

    The Chartered Institute of Taxation of Nigeria (CITN) has challenged newly inducted Fellows to stick to the principles of accountability, transparency and ethics in carrying out their responsibilities as tax professionals.

    President, Chartered Institute of Taxation of Nigeria (CITN), Samuel Agbeluyi, disclosed this during the Fellowship Conferment ceremony held at the weekend in Lagos.

    He said that the CITN’s mission and values, are upholding the principles of accountability, transparency and professionalism in the taxation system in Nigeria, urging the fellows to abide by same principles.

     “This role calls for excellence not only in your individual capacities or at work places but also as leaders, mentors and advocates for a robust and equitable tax system that can serve as a pillar of our nation’s economic growth and sustainability,” he said.

    Agbeluyi said the series of reforms ongoing in the taxation landscape, particularly in Nigeria, should interest stakeholders, who are expected to study the proposed bills and make contributions to ensure its success.

    He said that The CITN is not merely a body, but a united assembly of tax experts with multi-disciplinary background that have come together to serve our nation and stakeholders.

    He said: “Distinguished professional colleagues, as you carry the title of Fellow, remember that you are representatives of a trusted assembly of professionals. Your conduct, insight and guidance have the power to inspire those around you, including aspiring tax professionals, government agencies, private sector employees and the wider public”.

    He urged the Fellows to project the Institute positively through ethical conduct and by striving for excellence at all times.

     “Council will be relying on your wealth of knowledge in developing the Tax profession in Nigeria whilst advising government and private sector clients/employers on critical taxation and fiscal policy issues,” he said.

    Read Also: CITN to retain quality tax professionals

    The Membership and Professional Conduct Committee said the Institute, since its inception, has strived to uphold the highest standards of integrity, knowledge, and excellence in the practice of taxation.

     “Accordingly, as our ambassadors and soon-to-be Fellows, you have all over the years been torchbearers of these values, contributing immensely to tax reforms, policy advocacy, and the development of a robust tax system in Nigeria. We celebrate you today for your demonstration of leadership, innovation, and a commitment to ethical practice that align perfectly with the Institute’s vision,” it said.

    The committee urged tax professionals to take steps that ensure that Nigeria’s economic landscape is positively shaped for development and growth.

    It said: “As we gather here to recognize your achievements in this prestigious profession, it is important to highlight the crucial role that tax professionals play in shaping the economic landscape of our nation. Taxation is the backbone of national development. It fuels the engine of governance, funds public services, and drives infrastructural growth. As Fellows of this esteemed Institute, you are not only custodians of professional standards but also key players in ensuring that our tax system is efficient, transparent, and fair”.

  • NGX records 32% increase in turnover amid modest gains

    NGX records 32% increase in turnover amid modest gains

    The Nigerian Exchange NGX) ended weekend on a cautiously optimistic note as market indices showed modest gains amid robust trading activity.

    Total equity turnover reached 1.952 billion shares worth N35.864 billion across 48,553 deals.

    This represented a volume increase compared to the prior week, which saw 1.482 billion shares valued at N38.875 billion traded in 44,795 deals.

    The financial services sector dominated activity by volume, accounting for 1.041 billion shares valued at N16.207 billion across 21,099 deals. This contributed 53.34 per cent and 45.19 per cent of total equity turnover volume and value, respectively.  Following were the oil and gas sector with 273.407 million shares worth N6.717 billion and the services sector, which recorded a turnover of 141.184 million shares valued at N779.166 million.

    Among equities, Japaul Gold and Ventures Plc, FBN Holdings Plc, and Access Holdings Plc collectively contributed 23.64 per cent to total turnover volume, with 461.500 million shares worth N6.183 billion traded across 4,658 deals.

    The NGX All-Share Index (ASI) inched up by 0.11 per cent to close at 97,829.02, while market capitalisation gained 0.13 per cent to settle at N59.292 trillion.

    Significant gains were seen in indices such as the NGX Insurance Index, which rose by 4.54 per cent and NGX Consumer Goods Index, which increased by 1.93 per cent. However, indices like the NGX Banking Index dropped by 2.57 per cent while NGX Growth Index dipped by 13.47 per cent.

    Read Also: NGX RegCo calls for more females in capital market

    Leading the week’s top gainers was Eunisell Interlinked Plc, which surged by an impressive 60.72 per cent to close at N19.27. Similarly, Tantalizers Plc and John Holt Plc advanced by 57.33 per cent and 42.49 per cent, respectively.

    On the flip side, Mecure Industries Plc led the losers, dropping 18.53 per cent to close at N10.55.

    The bond market recorded heightened activity, with 149,349 units worth N152.438 million traded across 30 deals. This marked a notable increase compared to the previous week’s 17,905 units worth N15.387 million across 19 deals.

    The FGSUK2033S6 bond accounted for the lion’s share of the activity, trading 111,161 units valued at N112.949 million across 13 deals.

    Meanwhile, Exchange Traded Products (ETPs) saw mixed activity, with 36,273 units worth N7.508 million traded in 78 deals, a decline from the previous week’s 64,852 units worth N7.918 million in 77 deals.

    The notable activity witnessed on the Exchange was highlighted by the supplementary listing of Federal Government of Nigeria (FGN) bonds. The listing, which took place on Monday, November 18, 2024, involved significant additions to the 19.30 per cent FGN APR 2029 and 18.50 per cent FGN FEB 2031 bonds, reflecting the government’s continued drive to bolster liquidity in the bond market and support fiscal initiatives.

    The supplementary issuance added 57.2 million units to the 19.30 per cent FGN APR 2029 bond, raising its outstanding units from 211.2 million to 268.4 million. Similarly, the 18.50 per cent FGN FEB 2031 bond saw an increase of 232.3 million units, taking its total outstanding units to 1.51 billion.

    The NGX welcomed Haldane McCall Plc, which listed 3.122 billion shares by introduction at N3.84 per share on Wednesday, November 20. United Bank for Africa Plc also opened its rights issue for trading, offering nearly 6.84 billion ordinary shares of 50k held as at the close of business on Tuesday, 5 November 2024 and opened on Friday, 15 November, at N35 per share on a 1-for-5 basis ordinary shares.

    According to market pundits, the upward movement in key indices, coupled with vibrant trading volumes, reflects investor optimism despite the declines in select sectors.

    The supplementary listing of bonds viewed by analysts as a positive step for investors seeking long-term, low-risk instruments is expected to sustain momentum in the NGX bond market. Meanwhile, investors are expected to closely monitor upcoming government fiscal policies and global economic trends to guide their strategies in the equity and bond markets.

  • ‘No missing funds in Access Bank’

    ‘No missing funds in Access Bank’

    Access Holdings Plc, the parent company of Access Bank Plc, has refuted allegations of missing funds in the bank.

    In a statement, the company stated that its attention had been drawn to a video on social media wherein allegations of missing funds and unethical behaviour were made against Access Bank.

    The company stated that the allegations were unfounded and baseless.

    “First and foremost, we wish to emphasise that the safety and security of our customers’ funds are core priorities which we take seriously. Second, Access Bank Plc does not engage in or condone any unethical behaviour.

    “In the instant case, the allegations of missing funds in the bank are most untrue and baseless. There is no N500 million or any other fund or amount missing from the subject customer’s account or from any other customer’s account with us.

    Read Also: Access Bank wins Digital Jurist awards

    “We and other independent stakeholders in the banking industry have thoroughly investigated these allegations and independently arrived at the same conclusions,” Access Holdings stated.

    According to the company, Access Bank operates with the highest ethical standards while protecting its customers’ interests in line with extant privacy laws.

    “Consequently, whilst we have engaged and will continue to engage with our customers, we must advise the public not to rely on or believe sensational and unverified claims that are designed to titillate and mislead the public. We remain committed to serving our customers,” the bank stated.

  • Access Bank UK to acquire Mauritius-based AfrAsia Bank

    Access Bank UK to acquire Mauritius-based AfrAsia Bank

    Access Holdings PLC yesterday announced that its banking group’s, subsidiary, The Access Bank UK Limited has entered into a binding agreement to acquire a majority equity stake in AfrAsia Bank Limited, the Republic of Mauritius’ third largest bank by total assets.

    Mauritius, renowned for its robust financial services sector which contributes 13.4 per cent to its Gross Domestic Product, provides Access UK with a solid foundation to expand its operations in the high-growth personal and corporate banking segments. Furthermore, Access Bank will utilise Mauritius as a strategic hub for trade finance and regional connectivity, thereby enhancing its capacity to facilitate cross-border transactions across Africa and beyond.

    The transaction represents a transformational step forward for the Access UK and the overall Access Holdings’ banking franchise. At the end of its fiscal year ended June 30, 2024, AfrAsia Bank recorded Total Assets of more than $5.7 billion and Net Profit After Tax of $152.4 million.

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    Commenting on the acquisition, Managing Director/CEO of Access Bank Plc and the CEO of the Banking Group, Roosevelt Ogbonna,  said: “This acquisition marks a pivotal moment in our African growth strategy, reinforcing our position as a leading Pan-African financial institution. Mauritius offers immense potential as an international financial hub, and through AfrAsia Bank, we are excited to unlock new opportunities to drive trade, support businesses, and foster economic inclusion across the region as we continue our mission to be the World’s Most Respected African Bank.”

    Managing Director of the Access Bank UK, Jamie Simmonds added: “With a strong balance sheet and a well-established brand in Mauritius, AfrAsia Bank provides us with a sustainable platform to scale and achieve long-term profitability. The deal aligns with our strategy to diversify and future-proof our earnings; and offer bespoke solutions enabling our clients to access global markets with ease.”

    The Access Bank UK remains focused on fostering sustainable growth and delivering innovative financial solutions that empower businesses and individuals, while advancing intra- and inter-African trade, unlocking opportunities, and contributing to its economic transformation. Access Bank UK remains committed to providing innovative financial solutions and fostering trade relations between Africa and the rest of the world.

  • Polaris Bank retains best digital bank for fourth consecutive year

    Polaris Bank retains best digital bank for fourth consecutive year

    Polaris Bank at the weekend reasserted its digital dominance in the Nigerian banking industry as the leading digital retail commercial bank was adjudged the best digital banker for the fourth consecutive year.

    At the Banks and Other Financial Institutions Awards (BAFI Awards), financial industry’s prestigious awards, Polaris Bank’s trailblazing digital banking platform, VULTe won the “Digital Bank of the Year Award”.

    Polaris Bank was also awarded “Best Bank for MSMEs of the Year”, for the third consecutive year, underlining the bank’s well-known competitive lending and general support for small businesses and the real sector.

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    With the weekend award, Polaris Bank retains a pride of place as the only Nigerian bank to have won the coveted awards for that long, underscoring the bank’s continuous investments in human and technological resources.

    The BAFI Awards Selection and Review Committee stated that Polaris Bank outperformed industry peers in all key metrics, including strength of strategy for attracting and gaining digital customers, accelerated user engagement, success in getting clients to use digital offerings, growth of digital customers, platform functionality and security.

    BAFI Awards is well-regarded for its empirical and data-driven selection process, a practice that makes the awards, one of the most prestigious independent awards for the Nigerian financial services industry.

    Managing Director, Polaris Bank, Mr. Kayode Lawal, said the continuing recognition of VULTe as best digital bank emphasises the user-friendly and multi-functional strengths of the digital platform.

    He pointed out that Polaris Bank has seen tremendous market gain in digital transactions and lending with digital lending totaling more than N10 billion in the first eight months of this year, on course to surpass the N12.8 billion recorded for the whole of 2023.

    He said the bank understands the importance of user-experience in online transactions and thus prioritises convenience and safety, with sustained investments in bespoke technologies.

    “We are honoured to receive this prestigious award, recognising our commitment to the digital banking ecosystem. We understand clearly that this consecutive vote of confidence on our capability is a responsibility, and we are doing everything to remain on the cutting-edge of technology and services.

    “We are sure ongoing strategic initiatives will not only sustain our leadership in digital banking and supports for real sector, but also deliver sustainable growth that will firmly entrench our digital leadership across the financial services industry,” Lawal said.

    He commended the organisers of the BAFI Awards, BusinessDay, for their commitment to empirical process.

    A full digital bank that provides fast, convenient, and reliable solutions to banking needs; some of VULTe’s unique features include: QR payments, end-to-end account opening, instant loan request, debit card request, issuance, and activation, without the customers leaving the comfort of their homes, offices or wherever they may be.

    The platform does not just cater to Polaris Bank’s customers alone, but non-customers alike who can also download and enjoy banking services on VULTe. Another key feature is VULTe’s API Banking, which allows merchants and businesses to integrate VULTe with other business critical systems, enabling a portfolio of services including risk assessment, bank statement requests, lien accounts, direct debits and more.

    With its all-in-one solution, VULTe not only caters to individual customers but also SMEs, high net worth and retail customers. It takes few minutes to access collateral-free personal and business loans that enables individuals and enterprises of customers.

  • AXA Mansard wins award

    AXA Mansard wins award

    AXA Mansard Health has been honoured as the Outstanding Health Insurance Company of the Decade at 2024 Edge Awards.

    The award, according to the organisers, recognised AXA Mansard Health’s unwavering commitment to delivering cutting-edge healthcare solutions and its pioneering efforts in bridging the healthcare insurance deficit.

    Over the decade, AXA Mansard Health has demonstrated its commitment to innovation through various groundbreaking initiatives.

    One of such innovation is its recent partnerships with Telcos and Fintechs to make health Insurance available and accessible.

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    This innovative product provides customers with affordable access to healthcare services when they subscribe to a data bundle or save on their preferred FinTech apps. Additionally, in its drive to provide quality healthcare to individuals and families outside the organized private or public sectors, AXA Mansard health has transitioned to a total wellness company focusing on preventive wellness as a panacea for good health and lifestyle. The company’s dedication to innovation extends to its services as well.

    AXA Mansard has introduced telemedicine, home laboratory services, and vaccination programs, among other advancements, to enhance the overall healthcare experience for its customers. These offerings provide convenient and accessible healthcare solutions, allowing individuals to receive quality medical care from the comfort of their homes.

    Speaking at the reception of the award in Lagos, the Executive Director, Business Development of AXA Mansard Health, Adeola Adebanjo, said that the award once again, points to AXA Mansard’s exceptional contributions to the healthcare sector in Nigeria.

     The company’s relentless pursuit of innovation and its focus on delivering customer-centric solutions have set new benchmarks within the industry. Also, the Chief Executive Officer of AXA Mansard Health, Tope Adeniyi said: “We are thrilled receive to this award. It reaffirms our commitment to revolutionizing healthcare delivery in Nigeria from a company of just few customers 10 years ago, to becoming the biggest health Insurance company in Nigeria.

    This has been made possible through relentless innovative solutions and services.

    We remain dedicated to improving the health and well-being of our customers by providing accessible, affordable, and quality healthcare options.”

    AXA Mansard Health continues to lead the way in shaping the future of healthcare in Nigeria, leveraging technology and partnerships to create transformative solutions that address the unique healthcare challenges faced by individuals and families.

    This award highlights the company’s innovative approach to health insurance, showcasing its efforts to meet diverse client needs while setting industry benchmarks.

  • Sterling One, PwC, others partner on ESG

    Sterling One, PwC, others partner on ESG

    As environmental, social, and governance (ESG) principles continue to gain traction globally, Nigerian businesses are increasingly recognising the importance of integrating sustainable practices into their operations.

    ESG has evolved from a trend to a strategic necessity for companies aiming to manage risks, meet regulatory requirements, and align with the expectations of investors and stakeholders.

    In response to this growing significance, Sterling One Foundation, in partnership with PwC, NGX, UNIDO Investment and Technology Promotion Office (ITPO) Nigeria, LBS Sustainability Centre, Lagos Chamber of Commerce & Industry (LCCI), Nigeria Employers’ Consultative Association (NECA), and Sterling Bank at the weekend hosted a forum on ESG.

    The event provided a platform for thought leaders to share insights on advancing sustainable development and driving meaningful change.

    Read Also: Investors raise long-term stakes on Nigeria’s economy

    The weekend marked the fourth installment of the ESG Series in 2024, underscoring the ongoing commitment to deepening the ESG conversation in Nigeria and across Africa.

    Each edition has offered practical solutions and sparked essential discussions on embedding ESG into corporate strategies. To maintain this momentum, ESG Series 4.0 offered two key tracks focused on equipping participants with the tools and strategies needed to implement robust ESG frameworks that drive growth and resilience.

    The session convened ESG leaders, corporate executives, development experts, and sustainability advocates who are dedicated to elevating sustainable business practices. The agenda provided valuable insights on ESG reporting, risk management, and aligning sustainability goals with organizational strategies. These discussions are expected to benefit organizations aiming to stay ahead of evolving ESG standards and implement best practices that enhance resilience and create long-term value.

    Participants heard from leaders in the ESG and social impact space, including Olapeju Ibekwe, Chief Executive Officer of Sterling One Foundation, who played host for the 4th ESG Series. As a development advocate with a strong background in driving social change and promoting sustainable practices, Olapeju shared valuable perspectives on integrating impact-driven strategies into business operations.

    Commenting on the importance of sustainability in today’s business landscape, Ibekwe said: “As businesses continue to embrace the principles of sustainability, we must move beyond discussions and focus on actionable strategies that drive real change. ESG Series 4.0 aims to equip organizations with the knowledge and tools needed to implement impactful ESG strategies that drive growth and resilience.”

    The lineup also included Bolanle Adekoya, Partner and PwC West Africa Platform Leader for ESG & Sustainability; Nana Maidugu, Head of Sustainability and ESG at NSIA and Adewale Oyerinde, Director-General of the Nigeria Employers’ Consultative Association (NECA).

  • ‘Financial literacy essential for empowerment’

    ‘Financial literacy essential for empowerment’

    Financial literacy, financial consumer protection, and financial inclusion have been described as three essential pillars for the financial empowerment of individuals and the overall stability of the financial system.

    Director-General, Securities and Exchange Commission, Dr Agama Emomotimi stated this at the flag-off of the 3rd Phase of the AFEC Financial Literacy and Inclusion Awareness Campaign organised by Abuja Enterprise Agency held in Abuja.

    Represented by Deputy Director  Market Development, Mrs. Ojone Kabir, Agama explained that by raising awareness and providing practical financial knowledge, the Agency is  helping to create a more inclusive and equitable financial environment.

    He said, ”According to the EFINA  2023 survey, Nigeria’s financial inclusion landscape has transformed significantly from 2016 to 2023 with formal financial service usage growing from 30,percent to 50 percent”

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    “The adoption of financial services agents has also skyrocketed from 4.4 percent in 2018 to 54 percent in 2023, this is a positive development , as it means more Nigerians are able to access formal financial services”

    “Financial literacy is crucial for making informed decisions and achieving financial well- being , despite this urgent need, levels of financial literacy remain low, this campaign is a vital step towards improving financial literacy and empowering individuals to make sound financial decisions’’.

    Agama noted that Nigeria with her dynamic economy has the potential to remain the largest and most vibrant economy in Africa  but that the potential is significantly  constrained by the limited financial capability within the nation’s population.

    The SEC DG stressed that Financial literacy is becoming increasingly important in today’s complex and

    uncertain world adding that the growing complexity of financial instruments, coupled with rising inflation and global uncertainties stemming from geopolitical tensions and climate change, highlight the urgent need for individuals to build financial capability and resilience.

    Agama said the  initiative represents a critical step toward fostering a more financially literate and inclusive society, and I am delighted to be part of this important event.

    He said the SEC is mandated with a dual responsibility to regulate and develop a fair, orderly, and transparent Nigerian capital market that engenders investor confidence.

    According to Agama, “A key aspect of this developmental role is investor education and financial literacy. The SEC recognizes that a well-informed population is essential to the stability and growth of the financial system.

    “In line with this, the Commission, in collaboration with other stakeholders, is working toward incorporating capital market studies into the curricula of basic, primary, and secondary schools.

    This initiative is aimed at ensuring that children develop a solid foundation in financial literacy, preparing them to become enlightened and responsible adults in the future.

    Agama emphasised that the Commission is deeply committed to fostering a comprehensive capital market curriculum in Nigerian universities saying that then ongoing initiative remains a priority for the Commission, as it is vital to equip future professionals with the knowledge and skills required to navigate the evolving capital market.

    In his welcome remarks, the Acting Managing Directors, Abuja Enterprise Agency ( AEA) , Mr. Chidi Ugwuada- Ezirigwe disclosed that the agency has successfully sensitize over 150, 000 households in the Federal Capital Territory on financial literacy and inclusion.

    Ugwuada – Ezirigwe, also revealed that the agency has taken delivery  of business and financial management education to 38,127 Micro, Small and Medium Enterprises ( MSMEs)  which has enhanced their financial knowledge  and better decision – making in their business operations

    He stressed, “ Facilitation of access to financial services especially to the unbanked- underbanked  MSMEs in the rural areas in FCT have been taken care of, we have also ensure the facilitation of access to grant/ loan facilities to approximately, 30,000 MSMEs in the territory under various government and private intervention programmes / schemes.”

    He added that the 3rd AFEC financial Literacy  and Inclusion Campaign being flagged off is aimed at equipping MSMEs and individuals with requisite financial skills to navigate the complex world of business and financial management so as to make informed decisions that foster financial security and business success.