E-Financial
Access Bank Assures Shareholders of Higher Dividend Payment

Access Bank Plc has assured shareholders of sustained dividend payout and improved performance in the years ahead. Mr Herbert Wigwe, Chief Executive Officer of the bank, gave the assurance while addressing shareholders at the 2020 Annual General Meeting (AGM), on Friday, in Lagos.
Wigwe said that the bank was well positioned to achieve significant growth in profitability and pay higher dividend given its position in the banking industry today.
He said that Access Bank had a healthy capital adequacy ratio, a robust balance sheet and strong brand that would lead to a better performance in the years ahead.
Wigwe noted that the bank recorded a profit after tax of N106 billion in 2020, an increase of 13 per cent from N94 billion achieved in the corresponding period of 2019.
According to him, the bank recommended a final dividend of 55k per share for the year ended Dec. 31, 2020, bringing the total dividend to 80k having paid an interim dividend of 25k earlier.
Wigwe said shareholders should expect better dividend that would be sustained given the various strategies put in place to grow the business.
According to him, Access Bank is best positioned to maximise the identified opportunities in Africa on the back of a growing customer base and the move to a cashless economy.
“We have identified Africa to be a vast pool of opportunities with over 370 million unbanked adults.
“With $9.2 billion in remittances and cross border payments, 89 cities of over 1.3 billion inhabitants by 2025 and the overall African financial ecosystem.
“We also see opportunities coming from the new African Continental Free Trade Area, as it is expected to expand intra-Africa trade to 53 per cent by 2022.
“Also eliminate tariff on qualifying trade and increase financial flows,” he said.
Wigwe said that on the domestic front, Nigeria presents several opportunities due to its large population, huge payments and remittance flows, and emerging insurance market.
“To capture these opportunities, Access Bank will transition into a holding company structure.
“The structure will enable it tap into the market opportunities that are available in the regulated banking and consumer lending market, electronic payments industry and retail insurance market.
“Through the restructuring, we will create new product revenues without taking incremental risks for the enterprise, ensure diversification of earnings, and support outside of Africa,” he said.
He added they had commenced green field operations in Mozambique and completed acquisition of Transnational Bank and Cavmont Bank in Kenya and Zambia, respectively to strengthen and increase their market presence.
“Early 2021, we received regulatory approval for our proposed acquisition of Grobank in South Africa to give us inroad into largest economic block in Africa and one of Africa’s biggest markets.
“Our acquisition of Grobank will help strengthen our foothold in Southern African market, Africa’s largest economic hub and place us in a strong position to take advantage of Africa,” Wigwe said.
In her address, Chairman of the bank, Dr Ajoritsedere Awosika, said in 2020, the bank made several investments to strengthen relationships with its customers.
“By redefining our approach to customer service through streamlining our internal processes, and digitising about 30 per cent of customer journeys, we were able to improve on our customer experience.
“Also, we were able to manage our expenses in line with the target for 2020 despite double digit inflation and overall cost of running the enlarged enterprise.
“As a result, we achieved a Cost-to-Income Ratio of 63.4 per cent from 66.1 per cent in 2019.
“We worked hard to recover and dispose of a significant portion of our non-performing assets.
“With a decline in the portfolio of overdue loans, our asset quality improved across our retail and wholesale segments.
“Our capital and liquidity ratios were also well above regulatory limits with our capital adequacy ratio remaining strong at 20.6 per cent,” Awosika said.
Shareholders at the AGM commended the board and management for efficient service delivery.
Mr Eric Akinduro of Ibadan Zone Shareholders Association, commended the bank for sailing through the COVID-19 pandemic by ensuring improved results that led to the declaration of 80k dividend.
Akinduro said the various acquisitions by Access Bank across Africa, showed that the institution was very strong and assured of shareholders continuous support.
Mr Sunny Nwosu of Independent Shareholders Association of Nigeria said given the expansion drive, the bank was really aiming to play a leading role on the African continent.
According to him, it is a good development that will lead to better returns for shareholders and other stakeholders going forward.
E-Financial
Fidelity Bank grows PBT by 167.8% to N105.8 billion in Q1 2025

Fidelity Bank Plc, one of Nigeria’s leading Tier-1 financial institutions, has announced a remarkable financial performance for the first quarter of 2025, recording a Profit Before Tax (PBT) of N105.8 billion, representing an impressive growth of 167.8% compared to N39.5 billion in Q1 2024.

Mrs. Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc
The bank’s unaudited financial statements, released on the Nigerian Exchange (NGX) on April 30, 2025, highlight a substantial increase in Gross Earnings, which rose to N315.4 billion, marking a year-on-year growth of 64.2% from N192.1 billion in the same period last year.
Growth in interest income was primarily led by 38.6% yoy (7.4% ytd) expansion in earning assets base, while the increase in non -interest revenue came from FX-related income, trade and commission on banking services, etc., supported by increased customer transactions.
Commenting on the bank’s performance, Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc, stated, “We started the year with triple-digit growth in profit and sustained the momentum in our earning assets growth.
This performance shows the resilience of our business model and reinforces our confidence in delivering a better result in the 2025 financial year.”
Other areas of the unaudited financial statements, equally show a marked improvement with Total Deposits growing by 11.1% ytd to N6.6tn from N5.9tn in December 2024, driven by 10.6% ytd growth in low-cost deposits to N6.1tn, which represents 92.2% of total customer deposits. Local currency deposits increased by 2.0% ytd while foreign currency deposits increased by 21.4% from $1.9bn in December 2024 to $2.3bn.
Net Loans and Advances increased by 5.0% ytd to N4.6tn. The growth in the bank’s Loan Book was skewed to LCY Loans as cost of risk declined to 0.6% from 1.5% in 2024FY.
“Beginning the year with such positive momentum reinforces our commitment to supporting the growth of individuals and businesses, while enhancing our financial sustainability. As we go into the rest of the year, we remain focused on building a resilient banking franchise with a diversified earnings base,” Onyeali-Ikpe added.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
E-Financial
SEC Launches Capital Market Technology Survey

Securities and Exchange Commission (SEC) has unveiled a technology adoption assessment survey for registered capital market operators as part of efforts to deepen innovation and efficiency in the Nigerian capital market.
In a circular, the SEC stated that the exercise was designed to evaluate the level of adoption of advanced technologies among CMOs operating within the Nigerian capital market.
According to the notice, “The following technology adoption survey is designed by the Commission to assess the adoption of advanced technologies among registered Capital Market Operators.”
The SEC directed all registered operators to log into the e-portal at using their current access credentials to complete the survey. The exercise will run for two weeks, from 5 to 20 May 2025.
Speaking recently on the role of innovation in the capital market, Emomotimi Agama, director-general of the SEC, urged stakeholders to embrace technology as a catalyst for growth, improved transparency, operational efficiency, and market resilience.
He noted that the SEC recognises the emergence of new financial products and services driven by technological advancements, and remains committed to adapting its regulatory framework to meet the evolving needs of the market.
According to him, the commission’s approach to innovation is anchored on three pillars: investor safety, market deepening, and problem-solving aimed at building a robust and efficient capital market ecosystem.
Agama also highlighted the commission’s Regulatory Incubation Programme, which allows fintech startups to operate within a controlled environment for one year while appropriate rules are developed to govern their activities.
He said the programme is part of the SEC’s broader strategy to support innovation while safeguarding market integrity and investor interests.
E-Financial
IMF Confirms Nigeria’s Full Repayment of $3.4bn COVID-19 Loan

International Monetary Fund (IMF) ,has confirmed that Nigeria has fully repaid about US$3.4 billion loan it got in April 2020 under the Rapid Financing Instrument to help alleviate the impact of the COVID-19 pandemic and the sharp fall in oil prices.
IMF said the loan has been repaid as of April 30, 2025 in a statement issued in Abuja, Nigeria’s capital on Thursday.
However, IMF said Nigeria is still expected to honour some additional payments in forms of Special Drawing Rights charges hat will amount to US$30 million annually.
“In line with the IMF’s Articles of Agreements, these charges, levied at the SDR interest rate, which is updated at the beginning of each week, apply to the difference between Nigeria’s SDR holdings (SDR 3,164 million) (US$4.3 billion) and its cumulative SDR allocation (SDR 4,027 million) (US$5.5 billion)
“The net payment of the charges stops when Nigeria’s SDR holdings reach the cumulative allocation amount,” IMF said in the statement. Online fitness
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