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E-Financial

Heritage Bank Promotes Creative Industry with Support for “Rita Dominic Acting Challenge”

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Fela Ibidapo, Divisional Head, Corporate Communications of Heritage Bank Plc; Jasmine Howson-Wright, Winner of “Rita Dominic Acting Challenge;” Chioma Okafor, 1st runner-up; Rita Dominic, Foremost Nigerian Actress/Co-Founder of the Audrey Silva Company and Josh Anowi, 2nd runner-up, during the cheque presentation to the winners of the first “Rita Dominic Acting Challenge,” powered by Heritage Bank, held yesterday in Lagos.
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Heritage Bank Plc has further reiterated its commitment to the growth and development of the creative and entertainment sector by supporting the “Rita Dominic Acting Challenge.”

Heritage Bank in collaboration with a foremost Nigerian Actress and Co-Founder of the Audrey Silva Company, Rita Dominic launched an acting challenge for aspiring actors to recreate a scene in a new film “La Femme Anjola,” produced by the later.

Respectively, the winners carted away cash prizes- ; the Prize winner, Jasmine Howson-Wright received N1million, Chioma Okafor, 1st runner-up got N300, 000, whilst the 2nd runner-up grabbed N100, 000 consolation prize for the recreating a scene from La Famme Anjola in the acting challenge.

Speaking at the presentation of the cheque to the winners, the Divisional Head, Corporate Communications of the Bank, Fela Ibidapo explained that as the institution’s name implies, Heritage Bank has continued to make efforts in supporting creativity, ideologies and talents like these, where arts are used as a tool to promote cultural awareness and to help younger Nigerians form a strong sense of National identity.

“As a bank, we look for creativity, ideas and talents to support. We are called Heritage Bank for reasons, which involves putting our money where our mouth is, being that art and entertainment space are platforms where we considered being opportunity for us to leverage our supports.

“It is a privilege that we are here today to celebrate the movie and the success achieved thus far and to the winners” he stated.

He assured that the bank would always be driven by cultural heritage in delivering distinctive financial services to create, preserve and transfer wealth.

According to him the bank is proud of the entertainment industry and will continue to stand by operators in it by supporting them and watch them grow.

The Foremost Actress, Dominic thanked Heritage Bank Plc for believing in her dreams and for helping and recognizing the need to support young talents in Nigeria.

“I have been eager to make my dream a reality, luckily Heritage Bank came on board to partner with us this year. I consider this as a fantastic opportunity to get my lifelong dream to have actors,” she said.

According to her, the acting challenge is an opportunity to help young aspiring actors to find their feet in the industry because of how difficult it can be in the industry.

She noted that there were enormous aspiring talents to harness; as it was difficult to nominate the winners amongst participants in the Rita Dominic Acting Challenge.

She advised the winners to remain unwavering, focus their eyes on their visions and goals if they desire to succeed in the entertainment industry.


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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

E-Financial

World Bank Approves Extra $65m for Nigeria’s SPESSE

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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.

World Bank Approves Extra $65m for Nigeria’s SPESSE

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.


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E-Financial

Ecobank Taps Google Cloud to Deepen Financial Inclusion

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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.


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E-Financial

Stanbic IBTC Holdings Rights Issue Oversubscribed by 21.9%

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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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