E-Financial
Fidelity Splashes Millions of Naira on Youth Corps Members with GAIM 6

Fidelity Bank Plc has reaffirmed its commitment to financial inclusion, youth empowerment, and promoting a healthy savings culture by rewarding nine National Youth Service Corps (NYSC) members with N500,000 business grants each.

L – R: Branch Leader, Fidelity Bank Plc, Nanka Close, Wuse, Abuja, Vincent Ijioma; GAIM 6 NYSC Empowerment Grant winner, Bomane-Aziba Koromo; and Zonal Inspector, NYSC Zone 3, Abuja, Adama Usman, at the Fidelity Bank GAIM 6 NYSC Empowerment Grant prize presentation ceremony for Q1 in Abuja recently.
The grants were awarded under the Get Alert in Millions Season Six (GAIM 6) promo, an initiative designed to reward loyal customers with cash prizes totaling N159 million.
The promo, which runs from November 2024 to August 2025, targets various categories of customers, including NYSC members, students, and general customers.
Mr. Osita Ede, Divisional Head of Product Development at Fidelity Bank Plc, stated that this season of the GAIM promo aims to enhance the opportunities for loyal customers to win.
“When we launched the GAIM 6 promotion in November 2024, we unequivocally stated that this campaign season is intended to promote inclusivity.
“Consequently, we have increased the total prize money to N159 million and added additional draws, beyond the weekly and monthly draws featured in previous seasons.
“Now, we have specific draws catering to various segments of our customer base including women, students, youth corps members, and traders.
“It is important to note that these categories of customers also stand the chance to win millions of naira in the monthly and grand draws which we will be hosting till 20 August 2025,” explained Ede.
Nine NYSC customers were selected through a random electronic draw in the first quarter of the GAIM 6 campaign, from various branches nationwide. They are: Oluwatosin Emmanuel Olowolayemo and Ekpeno Aniekan George, both from Uyo 2 Branch; Derryk Chidubem Okafor from Trans-Ekulu Branch; Aliyu Idris Adamu from Tudun-Wada Kaduna Branch; Bomane-Aziba Koromo from Nanka Close, Wuse Branch; Asabe Grace Adamu from University of Maiduguri Branch; David Agbai Agwu from Oshogbo Branch; Abdullahi Opeyemi Olajuwon from Airport Road, Lagos Branch; and Eghosa George Orhue from Ado Ekiti Branch.
Expressing his gratitude and excitement, one of the recipients of the entrepreneurship grant, Chidubem Okafor, appreciated Fidelity Bank for the grant, noting that the funds will enable him to achieve his entrepreneurial dreams.
His words, “At first, I thought it was a scam when they introduced the initiative at our orientation camp, but today, I am truly honored to receive this support from Fidelity Bank.
“This grant will go a long way in helping me achieve my entrepreneurial dreams, and I promise to make the most of it,”
Similarly, David Agwu, who also emerged a winner in the draw, expressed his surprise at the unexpected win, saying, “When I received the call, I thought it was a prank. I never applied for anything, so it was hard to believe.
“But when they sent me proof, I realized it was real. I am truly grateful for this opportunity.
“My plan is to invest the money in vocational training and digital skills development, particularly in fashion and painting in order to establish a sustainable business”.
Beyond the N500,000 entrepreneurship grant, the winners will also enjoy free business advisory and training sessions at the newly launched Fidelity SME Hub, located at 22, Lanre Awolokun Street, Gbagada Phase 2, Lagos.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 8.5 million customers through digital banking channels, its 251 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the Export Finance Bank of the Year at the 2023 BusinessDay Awards; the Banks and Other Financial Institutions (BAFI) Awards; Best Payment Solution Provider Nigeria 2023; and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards.
It was also recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023 and the Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.
E-Financial
UBA Launches Afrigo Card to Revolutionise Domestic Payments

United Bank for Africa (UBA) Plc. Africa’s Global Bank, has launched the Afrigo Card, a revolutionary domestic card scheme aimed at transforming the Nigerian payments landscape.

Officials of UBA at the launch of Afrigo Card
The Afrigo Card, introduced by the Central Bank of Nigeria (CBN) in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), offers a robust alternative to international card schemes, empowering customers with seamless, naira-denominated transactions tailored to the local market.
A statement by Ramon Nasir, head, Media & External Relations at UBA, said the card has been designed to offer a secure, affordable, and accessible alternative for everyday transactions in line with the apex bank’s ongoing efforts to drive financial inclusion and enhance the digital economy.
The Afrigo Card boasts impressive features, including chip-and-PIN security, seamless payments at ATMs and POS terminals nationwide, 24/7 access to funds, and rewarding benefits for cardholders.
It has been designed to cater to diverse demographics, as it supports low-income earners, artisans, students, and market traders by providing a flexible, affordable, and efficient means of managing finances.
The bank stated that it has been designed to offer a secure, affordable, and accessible alternative for everyday transactions in line with the apex bank’s ongoing efforts to drive financial inclusion and enhance the digital economy.
Shamsideen Fashola, group head of Retail and Digital Banking, UBA, pointed out the card’s versatility and other features of the card and maintained that with the launch of Afrigo, the bank continues to demonstrate its leadership in fostering financial innovation, inclusion, and accessibility for all Nigerians.
“With Afrigo, we are offering a card that speaks directly to the needs of Nigerians – from market women and students to small business owners and low-income earners. The card’s affordability, coupled with its advanced security and potential for biometric authentication and offline transactions, positions it as a vital tool in promoting cashless transactions across Nigeria,” he stated.
Joachim Iloemezue, head of Cards, UBA, emphasised the bank’s commitment to delivering innovative financial products to its customers.
“The Afrigo Card is a game-changer for Nigerians. It not only provides a reliable and affordable alternative for everyday transactions but also ensures our customers enjoy enhanced security, convenience, and nationwide accessibility. UBA remains committed to driving financial inclusion, and Afrigo perfectly aligns with that goal,” Iloemezue said.
Customers can obtain the Afrigo Debit Card for N1,000 plus N75 VAT at any UBA branch.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.
E-Financial
Court Slams Zenith Bank with N30m Damages over Fraudulent Debits in Customer’s Account

Justice Alexander Owoeye of the Federal High Court in Lagos has ordered Zenith Bank Plc to pay Christomax Concept Limited the sum of N30 million as general and aggravated damages for fraudulently and illegally debiting the firm’s accounts.
The plaintiffs—Christomax Concept Limited, Chris Integrated Company Limited, and Mr. Christopher Adayi—filed suit number FHC/L/CS/2039/2024 through their lawyer, Adetunji Adedoyin-Adeniyi of AAA Chambers, seeking a declaration that the bank’s failure to refund the fraudulently deducted sum constituted a breach of fiduciary duty.
They also requested an order compelling Zenith Bank to immediately refund the N10.6 million.
They further sought:
An order for the bank to write off the balance of a loan granted to the 1st plaintiff on May 27, 2022, since the illegal deductions were not refunded.
An injunction restraining Zenith Bank from taking any action to recover the loan or from harassing or intimidating the plaintiffs.
A directive for the bank to pay N500 million in damages for breach of fiduciary duty.
However, Zenith Bank, in its defense, argued that the suit was wrongly filed as an Originating Summons instead of a Writ of Summons and should be struck out.
The bank contended that the N15 million allegedly deducted was partially recovered, with N5,068,290.00 salvaged from Kuda Microfinance Bank.
The bank further argued that declaratory reliefs could not be granted without solid evidence and urged the court to dismiss the plaintiffs’ claims.
Justice Owoeye, in his judgment, pointed out that Zenith Bank had admitted to issuing a debit card linked to the plaintiffs’ accounts.
He stated that as the card issuer, the bank was responsible for authorizing transactions made with the card, taking action in case of fraud to stop further unauthorized use, and reversing fraudulent transactions when advised or directed.
The judge criticized the bank for failing to act after the fraud was reported on July 13, 2022, describing its conduct as “oppressive and high-handed.”
The court also ruled that the bank’s failure to refund N10,631,710.00, which was fraudulently deducted from the plaintiffs’ accounts, resulted in loss of business and goodwill, amounting to a breach of fiduciary duty owed by the bank.
The court ruled in favor of the plaintiffs and ordered:
An immediate refund of N10,631,710.00 deducted from their accounts.
A payment of N30 million in damages for breach of fiduciary duty, loss of business, goodwill, embarrassment, inconvenience, and hardship caused to the plaintiffs.
This judgment reaffirms banks’ duty to protect customers’ funds and take swift action in fraud cases.
E-Financial
CBN Grants Greenwich Holdings Limited Operational License

Greenwich Merchant Bank Limited has announced that it has received regulatory approval from the Central Bank of Nigeria (CBN) for its financial holding company, Greenwich Holdings Limited.
This milestone, it said in a statement, marks a significant step enabling Greenwich Group to consolidate its existing financial service businesses, expand into new markets, and strengthen its position as a leading player in the financial sector.
Upon the commencement of operations, Greenwich Holdings Limited will oversee Greenwich Merchant Bank Limited, Greenwich Asset Management Limited, and Greenwich Securities Limited, while driving the strategic expansion of the Group.
Ozena Utulu, Head of Corporate Communications, Greenwich Merchant Bank Limited, in the statement said the regulatory approval is an at testament of the dedication, hard work, and commitment to excellence that have defined Greenwich’s legacy as a trusted partner in the financial industry.
“Greenwich Holdings Limited represents a new chapter in the unparalleled growth which began with Greenwich Trust Limited, a foremost provider of financial solutions that commenced operations in June 1994 as a Financial Adviser and Issuing House.
“The SEC-regulated firm later applied to the Central Bank of Nigeria for the conversion of its operations which led to the establishment of Greenwich Merchant Bank Limited in 2020.
“Over the course of 30 years, Greenwich has expanded its footprint across various segments of the financial sector through its subsidiaries and affiliated entities including Greenwich Registrars and Data Solution Limited and Greenwich Trustees Limited.
Greenwich Holdings Limited is committed to delivering innovative financial solutions, fostering growth and creating value for its stakeholders,” the company said.
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