E-Financial
CWG Wins Prestigious Wincor-Nixdorf Award

Computer Warehouse Group (CWG Plc), leading Pan African ICT giant,was accorded the highest recognition at the just concluded Wincor Portugal, Middle East and Africa Regional Partners Summit 2013 in Dubai by winning the most prestigious Best Absolute Achievement award.
Mr. Eckard Heidloff, president & CEO of Wincor-Nixdorf, while presenting the award to Mr. Austin Okere, founder and group CEO of CWG, remarked that CWG has indeed distinguished herself both in the roll out of new technology, and also in contributing the largest chunk to the impressive 47% year on year revenue growth recorded by Wincor in the region.
In response, Okere thanked Hiedloff for demonstrating deep commitment to Nigeria by making a historic visit earlier in the year which created the opportunity for a successful joint go to market strategy.
Wincor-Nixdorf has powered strongly to the number two position in both global rankings and in the US, while she holds the commanding heights of number one ranking in Europe, with Revenues of about $3.34b in the last financial year, ending September, 2013.
CWG’s unique approach of offering an end-to-end strategy for her ATM deployments involves the provision key value added services covering warranty upgrade to SLA for critical customer experience, training for branch custodians for higher up times, inverters and batteries, communication links, and Proview monitoring for optimal performance of the ATMs.
The strategy is built around ensuring a single responsibility point for all the key activities and services around the ATMs to guarantee seamless operation, and peace of mind to her customers, while also minimising fragmented vendor touch points, which inadvertently leads to fraud and needless finger pointing.
It will be recalled that one of the highlights of the 4th Nigerian-German Economic forum in 2011 which was graced by both President Goodluck Jonathan and Chancellor Angela Merkel at Abuja, CWG and Wincor Nixdorf signed a cooperative agreement to deploy 600 Wincor Nixdorf ATMs to major banks and financial institutions in Nigeria.
The British Retail Banking Research Group, relying on statistics from the Central bank of Nigeria, estimates that there are about 11,000 ATMs in Nigeria today, with about 50% being of the Wincor-Nixdorf brand. CWG, having deployed and supporting about a third of the aggregate ATMs, or 3500 Wincor Nixdorf ATMs has established her credentials as the defacto leading ATM Company in Nigeria.
CWG provides ATM solutions to 18 of the 21 banks in Nigeria, including UBA, Ecobank, GT Bank, FCMB and StanbicIBTC amongst others.
E-Financial
GTCO to Become First Nigerian Bank to List on London Stock Exchange

By 8 am on July 9, GTCO Holdings is set to commence trading on the London Stock Exchange.
As the group is set to list all its shares on the London Stock Exchange, becoming the first Nigerian banking entity to do so.
This is as the group launches a public offer of new ordinary shares to raise approximately $100 million on the London Stock Exchange.
The equity offering, which is an accelerated bookbuild and managed by Citigroup, began on July 2 and is to last until July 31.
On July 31, the group announced that it would cancel the listing of its Global Depositary Receipts (GDRs) on the UK Financial Conduct Authority’s (FCA) Official List.
It will also cancel their admission to trading on the London Stock Exchange (LSE)’s main market.
In place of the GDRs, the group will list all its ordinary shares directly.
aims to admit all its shares to the equity shares category for international commercial companies under a secondary listing on the FCA’s Official List.
The shares will also begin trading on the LSE’s main market for listed securities.
According to a regulatory filing on the London Stock Exchange, the net proceeds from the offering will be used to recapitalize GTBank Nigeria.
Based on the prevailing exchange rate of N1,540 to the US dollar, the targeted $100 million equates to approximately N154 billion.
This capital raise is expected to position the Group to fully meet the N500 billion minimum paid-up share capital required by regulators for banks with international licenses.
As of now, both Zenith Bank and Access Holdings have already met—and exceeded—this threshold.
E-Financial
NAICOM Issues New Licenses to SanlamAllianz Life, General Insurance

The National Insurance Commission (NAICOM) has handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd at brief ceremony held in Abuja.
Olusegun Omosehin, commissioner for Insurance emphasized the Commission’s commitment to supporting the growth of insurance entities in the country, while ensuring strict compliance with regulatory requirements. He urged the companies to prioritize good corporate governance, stability, and timely claims settlement processes.
The Commissioner reiterated NAICOM’s dedication to removing unnecessary bottlenecks and improving the insurance industry’s overall performance. He expressed confidence that the merger would enhance the companies’ capabilities and contribute to the industry’s growth.
SanlamAllianz recently launched its operations in Nigeria, marking a significant step in the company’s Pan-African expansion.
The launch follows the merger of Sanlam and Allianz’s Nigerian operations, creating a new entity named SanlamAllianz Nigeria.
This joint venture aims to transform the Nigerian insurance landscape by offering enhanced customer experiences, innovative solutions, and improved financial inclusion.
E-Financial
World Bank Approves Extra $65m for Nigeria’s SPESSE

World Bank has approved an additional $65 million loan for Nigeria to support the Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, increasing the total financing for the initiative to $145 million.
The approval was granted on June 24, 2025, according to details posted on the World Bank’s website, which also indicates that the project’s status has moved to “active” following the approval.
The SPESSE project, initially launched with an $80 million loan approved in February 2020, aims to strengthen institutional capacity for managing procurement, environmental, and social standards in both the public and private sectors across Nigeria.
The World Bank described the project’s development objective as the establishment of sustainable capacity in these areas.
This latest approval is part of a broader wave of financing expected from the World Bank to Nigeria in 2025.
The bank is scheduled to approve loans totalling $1.61 billion over the coming months, supporting various development initiatives.
Among these is a $300 million loan for the ‘Solutions for the Internally Displaced and Host Communities Project,’ expected to be finalised by the end of July.
This project aims to improve access to basic services and economic opportunities for internally displaced persons (IDPs) and host communities in selected local government areas in northern Nigeria.
In September, the World Bank plans to approve four additional loans: a $10.5 million facility to support technical assistance for the Central Bank of Nigeria, a $300 million Health Security Program targeting Western and Central Africa (Nigeria – Phase IV), a $500 million project for building resilient digital infrastructure (BRIDGE), and a $500 million loan under the Nigeria Sustainable Agricultural Value-Chains for Growth project aimed at promoting sustainable growth and job creation within key agricultural sectors.
Earlier in March 2025, the bank approved three financing requests amounting to $1.13 billion.
These funds are directed towards projects focused on enhancing quality education, boosting household and community resilience, and improving nutrition.
Among the approved loans were $80 million for the Accelerating Nutrition Results in Nigeria 2.0 project, $552 million for the HOPE for Quality Basic Education for All programme, and $500 million for the Community Action for Resilience and Economic Stimulus Programme.
In February, the Nigerian government announced expectations of new World Bank loans totalling $2.2 billion for six different projects in 2025. This follows a $1.5 billion loan disbursed in 2024 aimed at strengthening Nigeria’s economic stability and resource mobilisation efforts.
- Telecom3 days ago
AVEVA Highlights Climate Impact Gains in 2024 Sustainability Report
- General News3 days ago
AfCFTA Opens Opportunity for Logistics Sector
- Telecom3 days ago
ALTON Explains SIM-related Services Disruption Across Mobile Networks
- Telecom2 days ago
NCC Approves MTN, 9Mobile Roaming Collaboration Deal
- Telecom24 hours ago
MTN Nigeria Debuts Game-Changing CPaaS Platform at NextNow Forum
- E-Financial2 days ago
World Bank Approves Extra $65m for Nigeria’s SPESSE
- E-Financial24 hours ago
NAICOM Issues New Licenses to SanlamAllianz Life, General Insurance
- News24 hours ago
AMCON Confirms ₦100Bn Sale of Ibadan DisCo Amid Legal Disputes