E-Financial
IFC Invests $9.4 Billion for Private Sector Development in Africa

IFC provided record financing in Africa in fiscal year 2022 helping to develop regional pharmaceutical manufacturing, increase intra-Africa trade, expand access to climate financing, and strengthen food security among many other pressing development needs.
IFC made $9.4 billion in investments between July 1, 2021 and June 30, 2022 across 36 countries, the largest ever annual commitment for the continent. The investments include $3 billion in trade financing that is unlocking intra-Africa trade for thousands of small businesses, $2.1 billion that is supporting the continent’s green transition, from increasing access to climate finance to funding renewable energy projects, and$861.7 million that is supporting increased digital connectivity.
IFC also provided $603 million in agriculture financing, helping to strengthen food security during a turbulent global economic period.
“While the effects of the COVID-19 crisis persist, new challenges are also looming, including from rising global inflation,” said Sérgio Pimenta, IFC Vice President for Africa.
“A strong and engaged private sector is indispensable to helping countries and companies navigate these and other challenges and that’s why we stepped up IFC’s funding and support to help sustain and create jobs, improve basic services and foster growth for small and medium-sized enterprises.”
IFC’s financing across Africa included short-term finance ($3.0 billion) and mobilization ($2.6 billion), with 49 percent of IFC’s own account financing going to low-income and fragile and conflict affected states.
During the financial year, IFC also launched the Africa Fragility Initiative (AFI), a five-year program dedicated to supporting private sector-led growth and job creation across 32 African countries affected by fragility and conflict.
To further support Africa’s regional trade development and reduce the continent’s reliance on imports, IFC launched the $1 billion African Trade and Supply Chain Finance Program (ATRI), which will begin financing initiatives from July 2022.
Responding to Africa’s call to develop sustainable pharmaceutical and vaccine manufacturing, IFC provided financing and advisory services to companies in Ghana, Nigeria, Rwanda, Senegal, and South Africa to support the development of manufacturing hubs.
As the continent responds to the effects of climate change and the call to shift to a net-zero world, IFC increased its financing for climate projects. This included launching the Scaling Mini-Grid program in the Democratic Republic of Congo, an investment with ELSEWEDY ELECTRIC S.A.E to increase access to renewable energy across Africa, and support for green bonds such as one issued by Nedbank in South Africa.
In addition to its investments in Africa, IFC provided Advisory and Upstream Services with a portfolio of more than $450 million across 298 projects aimed at improving the investment climate and market creation. In the last financial year, 20 percent of the Advisory and Upstream spend was on projects focused on climate change and 53 percent of all new projects approved supported improvements in gender equality.
E-Financial
SEC Intensifies Fight Against Ponzi Schemes With Market

Securities and Exchange Commission (SEC) has ramped up its fight against Ponzi schemes in Nigeria, vowing to take decisive action against illegal fund operators while educating the public to prevent further victimisation.
At an awareness campaign held in Abuja, the SEC emphasized its commitment to saturating public spaces with information about illegal investment schemes before enforcing the law on perpetrators.
Speaking at the event, Ms Frana Chukwuogor, executive commissioner Legal and Enforcement, Securities and Exchange Commission, warned of the dangers of patronising illegal fund operators known as Ponzi schemes.
She said that the Commission deemed it crucial to sensitize traders, empowering them to make informed decisions when approached with investment requests.
She explained that the campaign is a proactive step to combat the surge in fraudulent investment schemes in Nigeria, aligning with the Commission’s broader strategy to educate the public about Ponzi scheme risks and unregistered investment platforms before enforcing regulatory action.
“Our approach is simple but firm. We are not just a regulator that barks and does not bite. We believe in engaging, enlightening, and empowering the Nigerian people before enforcing the law. We will sensitize before barking and biting,” she stated.
She explained that too many Nigerians, especially those at the grassroots, fall victim to Ponzi schemes due to lack of information or false promises of quick, unrealistic returns, emphasizing that many of these schemes are not registered or regulated by the SEC, making them dangerous and illegal.
“We have seen people lose their life savings, their businesses, and their peace of mind.
That is why we are taking this message to the markets, motor parks, online platforms, anywhere Nigerians are making financial decisions. Prevention through education is our first line of defense,” she added.
Mr Abdusalam Khalid, head of Enforcement Department, Securities and Exchange Commission, warned that while education is the first step, it will not hesitate to prosecute illegal operators who refuse to cease their fraudulent activities
He urged the public to verify all investment opportunities through official channels and report suspicious activities through the SEC helpline.
E-Financial
Fidelity Bank grows PBT by 167.8% to N105.8 billion in Q1 2025

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.
E-Financial
SEC Launches Capital Market Technology Survey

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.
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