E-Financial
GAIM 6: Fidelity Bank Rewards 10 Customers with N10m
Fidelity Bank Plc has announced the first set of millionaires in its Get Alert in Millions Season Six (GAIM 6) promo.
In an event held at the bank’s corporate office in Lagos and observed online, the bank revealed ten customers each won cash prizes of N1 million in an electronic draw supervised by regulatory agencies and members of the media.
Fidelity Bank initiated the GAIM 6 promotion on November 20, 2024, with the aim of encouraging a healthy savings culture.
Through this promotion, the bank will distribute a total of N159 million in cash prizes to reward its loyal customers.
Speaking at the first monthly draw of the promo in Lagos, Dr Ken Opara, promo chairperson and executive director, Lagos and South-West, Fidelity Bank Plc, represented by Mr. Jude Monye, regional bank head, Ikeja and directorate head, North Business of Fidelity Bank, noted that “GAIM promo emphasises the importance of maintaining a healthy savings habit among the bank’s customers.
The said this habit insulates them from economic shocks, enables individuals and families to navigate emergencies, and allows them to invest in their future.
According to Dr. Opara, “10 lucky winners were chosen via an electronic draw monitored by lottery regulators and each will receive the sum of one million each.
“The bank would disburse N159 million to its lucky customers between November 2024 and August 2025 when the grand finale of the promo would hold.
“Today, we have witnessed the first promo monthly draw and 10 winners have emerged from the six geo-political zones of the country. One winner emerged from the South West; two from Abuja; two from the South-South; South-East produced two winners; Lagos got two winners; and North Central had one winner,” he said.
Shedding light on how people can qualify for the draw, Dr. Opara explained that, “Both existing and new customers can win by simply topping their account with a minimum of N5,000 as every N5,000 saved guarantees a ticket in the draws and there is no limit to the number of tickets a customer can have).
Highlighting the benefits of driving saving culture through the Fidelity Bank GAIM 6 Promo, Dr Opara noted that, “The benefits of fostering a culture of savings extend beyond individual households.
“Through our GAIM promo, customers will enjoy free financial advisory services from the bank to help sustain their financial well-being.
“In the previous editions of the GAIM promo, we have successfully onboarded many new-to-bank customers while encouraging current customers to increase their savings.
“An increased savings leads to more substantial investments in education, healthcare, and infrastructure, driving economic growth. Fidelity Bank is renowned across Nigeria for helping individuals grow, businesses thrive, and economies prosper by prioritizing our customers’ financial well-being.
“This initiative has significantly contributed to the government’s National Financial Inclusion Strategy, which aims to increase the percentage of adults with savings accounts from 39 to 70 per cent by 2025.
“I encouraged those who have not yet opened a Fidelity Bank savings account to do so, via any of the bank’s channels, as the promo is opened to both new and existing customers,” he added.
On his part, Mr. Osita Ede, divisional head, Product Development, Fidelity Bank, noted that, “The bank planned to reward the customers before the Christmas celebration to support them in meeting their expenses but the draw is open to customers who have Fidelity Bank savings accounts and have grown their savings to N10,000 and above from the promo launch date of November 20, 2024.
Mr Tanko Olaseni, head, Monitoring Inspection and Enforcement, Lagos State Lotteries and Gaming Authority, commended Fidelity Bank for being transparent with the draw while noting that, the promo initiative would further boost the image of the bank and its profitability as savings culture is promoted among its customers.
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.
Ecobank, a pan-African financial services group, has partnered with Google Cloud in a deal to improve financial services with advanced analytics, AI and driving digital empowerment across Africa.
This collaboration will focus on leveraging Google Cloud’s advanced technologies and AI to enhance Ecobank’s digital offerings to accelerate the digital transformation of the Bank.
The partnership agreement is designed to empower individuals, support the growth of small and medium-sized enterprises (SMEs) in the region, and contribute to the overall economic development of Africa.
“Our collaboration with Google Cloud is a leap forward in Ecobank’s digital transformation journey. We look forward to leveraging Google Cloud’s world-class technology to unlock new possibilities for individuals and businesses to grow and scale across Africa,” said Jeremy Awori, group chief executive officer of Ecobank.
“This collaboration signifies our shared intent to explore building a more connected and financially inclusive future for the continent.”
Thomas Kurian, CEO, Google Cloud, stated that Google Cloud and Ecobank have a shared vision for using technology to help deliver financial empowerment to more people and businesses in Africa.
“We look forward to exploring the ways our cutting-edge AI, powerful data analytics, and scalable infrastructure can support Ecobank’s efforts to fuel the continent’s economic development and digital future.”
The collaboration aims to simplify and streamline money transfers, both domestically and across borders. By leveraging Google Cloud’s capabilities, including its powerful data analytics platform, BigQuery, for AI-driven insights, Ecobank will aim to develop solutions that improve access to finance for SMEs, simplify payment acceptance, and provide valuable data-driven insights to help businesses scale across more than 33 countries in Africa.
Stanbic IBTC Holdings Plc has announced the successful close of the N148.7 billion Rights Issue subscription exercise following the completion of the verification exercise by the Central Bank of Nigeria (CBN) and final clearance by the Securities and Exchange Commission (SEC).
Stanbic IBTC Holdings said the Rights Issue was oversubscribed by 21.9 percent, adding that the holding company has injected N140 billion into Stanbic IBTC Bank.
Kunle Adedeji, acting Chief Executive, Stanbic IBTC Holdings Plc while commenting on the just concluded rights issue programme said that “The turnout and participation of existing shareholders taking up their rights was impressive such that the rights issue was oversubscribed by 21.9percent to the tune of N181.4 billion. Our shareholders’ interest shows the confidence they continue to have in the brand,” he said.
“We appreciate the support of the Central Bank of Nigeria, The Securities and Exchange Commission, the Lead Issuing house, Joint Issuing houses and other stakeholders in the successful completion of the recapitalisation exercise.
“We are optimistic about future opportunities, as the injection of new capital will position us to take advantage of them to enable us to deliver to our shareholders. To all shareholders, we are grateful for your unwavering belief and support for the Stanbic IBTC Brand and your willingness to continue this journey with us,” Adedeji said.
Having received an injection of N140 billion from the parent company, the Chief Executive of the Banking subsidiary, Wole Adeniyi, remarked that “the injection of the new capital into the banking subsidiary is a positive development. This will enable the Bank to seize additional opportunities within the industry and enhance our Single Obligor Limit (SOL).
“We deeply appreciate the dedication and hard work of our regulators, issuing houses, and all other stakeholders. We extend our sincere gratitude for your continued support.”
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