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E-Financial

Fidelity Bank Empowers Over 200 Youth With Entrepreneurial Skills In Kano State

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A cross-section of Students of Bayero University, Kano who participated in the fifth edition of the Youth Empowerment Academy – Stream 5 (YEA 5) organized by Fidelity Bank PLC in conjunction with Bayero University and Gazelle Academy in Kano at the weekend.
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Consistent with its unbridled commitment to youth empowerment in Nigeria, Fidelity Bank Plc, in partnership with Gazelle Academy and Bayero University Kano at the weekend concluded an entrepreneurship training programme for over 200 students in Kano State.

 

Organised under the Fidelity Youth Empowerment Academy stream 5 (YEA 5), the week-long training programme seeks to equip undergraduates with requisite skills, know-how, and capabilities needed to take start businesses even whilst in school.

 

Participants received training in various skill areas including, Fashion Designing, Makeover, Henna Design, New Media Marketing, Baby Bag Making, Bead Making, etc.

 

This empowerment programme, which is part of their Corporate Social Responsibility (CSR) initiatives, is primarily targeted at creating a new breed of entrepreneurs amongst Nigeria’s boisterous youth population.

 

Speaking at the closing ceremony of the fifth edition of the YEA 5 held in Kano State, the bank’s Deputy Managing Director, Mohammed Balarabe said that the skills acquisition programme seeks primarily to offer undergraduates of tertiary institutions with vocational skills and enterprise training needed to become thriving business owners.

 

Whilst stating that the programme teaches students vocational skills as an alternative to white-collar jobs, Balarabe explained that the initiative will guarantee financial independence among the youths and ultimately alleviate poverty.

 

“Since its inception, four editions have held successfully at institutions in Enugu, Birnin Kebbi, Anambra and Rivers states with over 2,000 participants.

 

“In essence, we have succeeded in making entrepreneurs out of students who will be financially responsible and independent”, he said.

 

Balarabe commended the students for their commitment and performance during the course of the training programme.

 

The DMD while quoting John Maxwell said, “Successful and unsuccessful people do not vary greatly in their abilities. They vary in their desires to reach their potential.” He challenged the students to go out there and fulfill their dreams.

L-R: The Deputy Managing Director, Fidelity Bank Plc, Mohammed Balarabe chats with the Director, Public Affairs of Bayero University Kano (BUK) at the closing ceremony of the fifth edition of the Youth Empowerment Academy – Stream 5 (YEA 5) held in Kano State at the weekend.

The Director, Public Affairs of BUK, Malam Ahmed Shehu who commended Fidelity Bank for the initiative called on other corporate organisations to emulate the bank in giving back to the society through laudable youth empowerment programmes like YEA5.

 

Shehu also lauded the bank for consistently delivering unmatched financial services to the university community and the citizens of Kano State.

 

Speaking in the same vein, Muna Onuzo, Founder, Gazelle Academy thanked the participants for their zeal and active participation as evidenced by the number of things ranging from bags, clothing apparels, beadworks, cocktails that were made by them and on display for visitors who thronged the school to witness the closing ceremony.

 

“We give our students the ability to stand and build their business. We start by teaching them the skills of the trade and then we empower their mind so that the inner disabilities won’t limit them from actualising their true potential.

 

“We also teach students how to run a business that is clean, sustainable and viable,” she explained.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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E-Financial

Sterling Bank Pledges ₦2bn to Fully Fund University Scholarships

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Sterling Bank has launched a ₦2 billion scholarship initiative to support Nigerian students in private universities. The program, Beyond Education, was unveiled on Democracy Day and aims to remove financial barriers to higher learning.

The bank will fully sponsor 600 students from across Nigeria’s 36 states and the FCT to study Technology, Finance, Sales, and Public Health at Miva University, founded by Sim Shagaya. The selection process is merit-based, with candidates nominated by themselves or others, and final selection determined through public voting open to Sterling account holders.

Sterling Bank’s CEO, Abubakar Suleiman, described the initiative as an investment in Nigeria’s future, aligning with the bank’s commitment to Health, Education, Agriculture, Renewable Energy, and Transportation. The bank has already deployed over half a trillion naira in financing across these sectors.

According to Obinna Ukachukwu, Growth Executive at Sterling Bank, the program is about creating opportunities beyond education. The bank is shifting from short-term philanthropy to long-term ecosystem development, with investments in digitized healthcare, school financing, agricultural cooperatives, solar energy, and transport systems.

“Nigeria’s progress requires action,” Suleiman said. “We are funding the future architects of the country—those who will build the businesses, institutions, and innovations needed for national prosperity.”

Nominations for the Beyond Education scholarships are now open at www.sterling.ng/FUTURE. The initiative sets a precedent for private-sector-driven education investment, where success is measured not just in profit, but in people empowered.


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E-Financial

FG to Train 100,000 Youths Annually in Forex Trading and Financial Skills

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Federal Government of Nigeria has signed a Memorandum of Understanding (MoU) with Investonaire Academy to train 100,000 young Nigerians annually in forex trading, financial planning, and risk management.

The agreement, signed in Abuja, was announced by Omolara Esan, Director of Information and Public Relations at the Federal Ministry of Youth Development. According to her, the initiative is part of the government’s broader strategy to reduce youth unemployment and enhance financial inclusion.

At the signing ceremony, Minister of Youth Development, Comrade Ayodele Olawande, described the partnership as a milestone in the ministry’s efforts to equip young Nigerians with practical financial skills. He emphasized that the programme would foster critical thinking, improve digital literacy, and expand access to global economic opportunities.

Speaking on the collaboration, Dr. Enefola Odiba, International Programme Director at Investonaire Academy, highlighted the importance of empowering youth with relevant financial and digital skills. He described young people as essential drivers of innovation and national development.

The ministry assured that the programme would be implemented with transparency and measurable outcomes, ensuring that participants gain practical expertise in forex trading and financial planning.

The Federal Government has recently intensified efforts to boost skill development across various sectors. A separate plan aims to train 100,000 artisans nationwide, following the successful upskilling of 29,000 individuals in previous phases. This initiative seeks to professionalize vocational trades, eliminate quackery, and introduce licensing systems.

Additionally, technicians from specialized institutions will receive industry-standard training to strengthen Nigeria’s labor force and increase self-reliance in skilled professions.

Through these efforts, the government hopes to position Nigerian youth for economic success both locally and globally.


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E-Financial

NDIC Begins Final Settlements to Creditors of Liquidated Premier Bank

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Nigeria Deposit Insurance Corporation (NDIC) has begun the final phase of liquidation for the defunct Premier Commercial Bank, initiating the payment of liquidation dividends to verified creditors, nearly 25 years after the bank’s closure.

NDIC Begins Final Settlements to Creditors of Liquidated Premier Bank

Premier Commercial Bank had its operating license revoked by the Central Bank of Nigeria (CBN) on December 20, 2000, following findings of financial instability and regulatory non-compliance.

Since then, the NDIC has overseen the bank’s liquidation process under a winding-up order from the Federal High Court, which designated the corporation as the official liquidator.

In a public announcement, the NDIC invited all eligible creditors to visit any of its zonal offices between June 2 and June 27, 2025, to verify and claim their entitlements.

This move marks a critical milestone in the final settlement of claims related to the bank’s collapse.

To facilitate the verification process, creditors are required to present proof of deposit or shareholding, such as a passbook, chequebook, term deposit certificate, or bank statement.

Additionally, valid identification documents must be submitted, including a driver’s license, international passport, national identity card, NIN slip/card, voter’s card, or a formal identification letter from a traditional ruler or local government chairman.

The NDIC assured the public that the ongoing settlement is part of a broader effort to bring closure to longstanding claims resulting from Premier Commercial Bank’s liquidation. The process, according to the corporation, has been designed to ensure efficient disbursement to all verified stakeholders.

Premier Commercial Bank is one of 53 deposit money banks whose licenses were revoked by the CBN between 1994 and 2018 due to various violations and signs of financial distress.

These closures were followed by legal procedures appointing the NDIC to manage asset recoveries and creditor settlements.

By initiating this final phase of payment, the NDIC is reaffirming its commitment to financial system stability and depositor protection while calling on all affected individuals and institutions to complete verification processes promptly to receive their due compensation.


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