E-Financial
Global Accelerex Wins Best Partner Award From Nexgo
Global Accelerex, the innovation leader in payment technology in Nigeria, has received the Best Partner Award from Nexgo, China’s technology giant. Hailed as the corporation’s highest tribute, the Award honours enduring partnerships as well as consistency in delivering superior e-payment solutions.
The Award was presented at an elaborate ceremony during the Nexgo Partners’ Summit, which took place recently at Continental Hotel, Shenzhen, China, with over 60 partners from 25 countries in attendance. Guests also included technology experts and dignitaries from the private and public sector in China.
This honour came despite stiff competition from many other notable names in the digital industry world-wide and Global Accelerex is once again proud to be at the top. The Managing Director of the company, Tunde Ogungbade, was at the Summit to receive the award.
“Global Accelerex is delighted to be recognized by Nexgo with the Partner of the Year Award. We are very proud of our long-term partnership with Nexgo.
“We are honoured to have received this recognition for providing customized terminal solutions that suit varying business needs not just in Nigeria, but across Africa, by our valued technical ally.
“We will not rest on our oars in the quest to deliver seamless e-payment technology to our customers,” said Tunde Ogungbade, in his acceptance speech”.
He dedicated the award to the staff of Global Accelerex, saying the feat was a concerted effort by different departments.
The Nexgo Partners Award recognizes outstanding partnership that is strategic and sustainable. It also rewards partners that developed innovative payment applications which impacted positively on Nexgo’s developmental capability.
This award comes just weeks after Global Accelerex was awarded Fintech Company of the Year at the Digital Pay Expo, the biggest e-payment event in Africa.
“Global Accelerex is among the partners we signed-on at the early stage of international business and over the years, we have made remarkable achievement in terms of growth and contribution to the cashless policy in Nigeria.
This is a win-win for both our companies as our alliance with partners like Global Accelerex has catapulted our position on the Nielson Report from No. 12 to No. 6, while Global Accelerex has become the preferred Payment Terminal Service Provider in Nigeria.
We believe in this partnership and know that in the coming years, we will witness new achievements of the two companies in Nigeria and Africa,” said Yang Min, Managing Director of Nexgo.
“Global Accelerex has demonstrated a strong innovative culture. They received high marks for their collaborative work with Nexgo and their delivery of an array of cutting-edge solutions on payment terminals that work for Nigeria and Sub-Saharan Africa.
“The solutions Global Accelerex deploy on the Nexgo family of products have tremendously improved the business system and performance of customers.
We are honoured to have this company as a key partner in building a stronger alliance that fosters creativity,” said Yuan Liang Wei, Deputy General Manager of Nexgo International.
Global Accelerex has set the standard for innovation in cashless payment systems, not just in Nigeria, but in sub-Saharan Africa.
It is renowned for its pedigree in world-class technology and excellent customer service, and its commitment to provide e-payment solutions that evolve with customers’ needs.
By simplifying payment solutions, Global Accelerex help organisations accelerate their business processes to ensure maximum profitability.
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.
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.
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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