E-Financial
Glo, NURTW Insurance Parley on Insurance Scheme
Globacom has received applause from Chief Emeka Wogu, minister of Labour and Productivity, as it launched an insurance scheme that will provide insurance cover for members of the National Union of Road Transport Workers (NURTW) against death and disability.
Wogu who was at the launch recently in Abuja lauded the company for its uncommon and unprecedented products and services.
The insurance scheme is called Security Verified Identity Card (SVID), which will provide comfort to families and relations of any NURTW member who dies or suffers permanent disability due to road accidents.
According to Mr. Steve Stretch, head, Glo Gateway, who delivered Globacom’s address at the launch, the immediate family of any NURTW member who dies in an accident will be paid the sum of N1million to cushion the effect of the death of their breadwinner, while a sum of N850, 000 will accrue to the family of any member who suffers permanent disability occasioned by road accident in the discharge of his daily activities.
“In as much as no one prays for accidents, we know that such can happen unannounced. When people die untimely in accidents or become incapacitated through accidents, their families suffer untold hardship, especially where such victims are the breadwinners. This is what Globacom wants to forestall with this scheme”, he said.
Mr. Stretch added that the peculiar nature of the daily activities of NURTW members who are permanently on the road, transiting from one part of the country to another, calls for a good life insurance package that will give hope to their families, should any unforeseen event happen.
“We also believe that family members of the NURTW, like any other families in other industries, should enjoy the basic things of life such as education of the children, feeding, clothing, etc., if the bread winner is incapacitated, or is no more available”, he said.
In addition to this, the SVID card will serve as identity cards and Automated Teller Machine (ATM) code cards for NURTW members.
To access these benefits, Mr. Stretch disclosed that members of the union will be expected to subscribe to the Globacom network and recharge with a minimum of N1,000 airtime every month, using their bank accounts on which the SVIDs have been programmed.
He said the telecoms company decided to institute the insurance scheme in order to make members of the union discharge their responsibilities of ensuring a seamless transportation network round the country confidently with the assurance that their families will be well catered for in the event of any occupational hazard.
Stretch recognised the important roles other partners will play in the initiative and thank them for joining Globacom to improve the lives of members of the NURTW.
SVID is a product launched in a partnership arrangement between Globacom, Capital 3 Limited, NURTW, Skye Bank Plc and Royal Exchange Assurance among other Insurance Underwriters.
In his remarks, Alhaji Najeem Usman Yasin, national president of NURTW said the welfare of his constituency propelled him and members of the union’s executive council to decide to partner with Globacom on the project.
He said the SVID will also help the union to have a comprehensive database of all members of the union pan Nigeria.
He thanked Glo for this support to power the insurance scheme and promised that all the members will key into it for their welfare.
Mr. Timothy Oguntayo, group managing director of Skye Bank, who was represented by Mr Tope Adewuyi, regional director for North Operations, disclosed that the bank believes that organizational objectives could be attained through the provision of quality, timely and efficient service.
“In this pursuit, it continues to conquer new frontiers in its operating environment and raising the bar of competition.”
Mr. Richard Borokinni, managing director, Royal exchange Assurance, affirmed that claims arising from the scheme will be paid promptly once accidents involving NURTW members are properly documented and referred to the insurance company.
E-Financial
First Asset Management Launches National Initiative to Raise 100m Investment-Smart Nigerians
First Asset Management, one of Nigeria’s leading investment managers and a subsidiary of FirstHoldCo Plc, launches the 100 million Smart Inventors campaign.
Nigeria’s investment market has huge potential, yet it remains underutilised due to widespread distrust, misinformation, and past losses suffered through fraudulent schemes. Trillions of Naira have been lost, leaving many Nigerians fearful and excluded from real, rewarding investments and leaving them on the economic sidelines.
Reports show that less than 5% of adult Nigerians currently participate in the formal capital market, and as low as 0.25% invest in Mutual Funds, a stark contrast to participation rates often exceeding 50% in developed economies like the United States. This highlights the urgent need to restore trust and improve access to credible investment education.
In response to this critical challenge, First Asset Management has announced the launch of a landmark national movement, the “100 million Smart Investors Initiative”. The campaign is positioned as a direct strategy to rebuild investor confidence and democratise financial knowledge across the nation.
According to the firm, the initiative was conceived from the need to address the anxieties that have historically prevented countless Nigerians from participating in real wealth-building investments. Drawing on its track record of trust and market expertise, First Asset aims to cultivate a new generation of informed, confident investors.
At the heart of the initiative is a comprehensive investor education programme. The goal is to transform casual interest in investing into active participation within a supportive, well-informed community.
Beyond expanding investor numbers, the movement seeks to improve the quality of investment decisions by equipping individuals with the tools to evaluate opportunities and avoid fraudulent platforms.
For everyday Nigerians, the initiative promises simplified, practical financial education that demystifies investing. By building a strong peer network through a nationwide community platform, it seeks to reduce the isolation often faced by new investors and promote collective financial empowerment.
Ultimately, the 100 Million Smart Investors movement represents a significant investment in Nigeria’s human capital. By providing actionable steps, success stories, and sustained education, First Asset Management aims to usher in a new era of financial literacy and participation.
This initiative would not only enhance the financial well-being of individuals and families but also contribute to the broader economic prosperity of the nation by channelling dormant capital into productive sectors of the economy.
To kickstart this bold quest, the brand has planned a series of free educational bootcamps, podcasts and community engagement with industry experts and leaders. The inaugural event will take place live on 26 July 2025.
Follow @FirstAssetManagement on all social media handles to stay informed and visit https://first-assetmanagement.com/smart-investors for details on how to join the movement.
PalmPay, a leading neobank and fintech platform focused on emerging markets, has been recognised in CNBC and Statista’s 2025 Top 300 Fintech Companies in the World list. This marks the second year in a row that PalmPay has earned a place among the world’s most innovative and impactful financial technology firms.
The selection is based on a rigorous evaluation of thousands of companies globally, assessing growth, innovation, market penetration, and impact. This year’s list includes a mix of global leaders – including Revolut, Nubank and Ant Group – alongside rising stars from high-growth markets, underscoring the growing influence of emerging-market fintechs like PalmPay.
PalmPay’s inclusion reflects its continued momentum as one of Africa’s leading fintech platforms. With over 35 million registered users and up to 15 million transactions processed daily, the company offers a comprehensive suite of digital financial services tailored to the needs of underserved communities.
In its main market, Nigeria, PalmPay operates as a full-service neobank, offering consumer financial services such as transfers, bill payments, credit, savings, and insurance – all accessible through its user-friendly app and supported by a nationwide network of over 1 million agents and merchant partners. The company also provides POS and API-driven B2B solutions tailored to the needs of merchants and enterprise clients.
“To be recognised as one of the world’s top fintech companies by CNBC and Statista is a powerful affirmation of our mission to build a more inclusive financial system,” said Sofia Zab, Founding Chief Marketing Officer at PalmPay.
“Through cutting-edge technology, deep local distribution, and a customer-first mindset, we’ve built Nigeria’s leading neobank. As we scale PalmPay to more emerging markets, including Tanzania and Bangladesh, our focus remains on closing financial access gaps for everyday consumers and businesses, while expanding the partner ecosystem that fuels our reach and impact.”
As part of its broader expansion strategy, PalmPay recently launched in Tanzania and Bangladesh through a smartphone device financing model that serves as an entry point to digital financial services.
“PalmPay is building a neobanking platform tailored to the realities of emerging markets,” said Jiapei Yan, Group Chief Commercial Officer at PalmPay. “We are creating the infrastructure for a connected digital economy – where people and businesses can thrive through reliable, inclusive financial tools.
This recognition from CNBC and Statista affirms our progress and also the scale of the opportunity ahead. As we expand across more emerging markets, we are committed to creating lasting value for our users, partners, and the communities we serve.”
PalmPay’s inclusion follows another major recognition earlier this year: the company ranked #2 overall and #1 in the financial services sector on the Financial Times – Africa’s Fastest-Growing Companies 2025 list. The ranking, based on revenue growth between 2020 and 2023, highlighted PalmPay’s rapid scale and market traction across Africa.
PalmPay currently operates in Nigeria, Ghana, Tanzania, and Bangladesh, and is expanding its presence across Africa and Asia through device financing, digital banking, and B2B payment services. Backed by a robust neobanking platform and a partnership-led approach, the company is committed to shaping the next chapter of inclusive financial growth.
Fidelity Bank Plc has reaffirmed its commitment to quality education and youth empowerment with the renovation of a classroom block and donation of textbooks to Aso Pada Government Secondary School in Karu LGA, Nasarawa State.
L-R: The Team Lead, CSR, Fidelity Bank Plc, Victoria Abuka; Vice Principal, Government Secondary School, Aso Pada, Maraba, Mr. Abdullahi Idris; Project Co-ordinator, Elite Bankers 2025 Inductee Class, Fidelity Bank Plc, Onyinyechi Ihesiaba; Vice Principal -Academics, Government Secondary School, Aso Pada, Maraba, Mr. Ela Isa; during the commissioning of a renovated block of classrooms and the distribution of Back-to-School Materials at Government Secondary School Aso Pada, Maraba, Nassarawa State recently.
The project was executed through the Fidelity Helping Hands Program (FHHP), a corporate social responsibility initiative that enables staff to identify community needs, raise funds, and receive matched support from the bank.
Speaking at the handover ceremony, Dr. Meksley Nwagboh, Divisional Head, Brand and Communications, said the school was chosen due to its impact on the local community and its lack of renovation in over 15 years.
Vice Principal Abdullahi Idris praised the bank’s gesture, calling it “an investment in the future of our nation,” and expressed hope for a lasting partnership.
The initiative follows Fidelity Bank’s recent donation of 1,000 solar-powered schoolbags to pupils across Ogun State, aimed at improving study conditions in areas with limited electricity.
Fidelity Bank serves over 9.1 million customers and has received multiple awards for innovation and SME support, including the 2024 Excellence in Digital Transformation Award and Best Bank for SMEs in Nigeria by Euromoney.
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