E-Financial
Schneider Electric’s EcoStruxure™ Platform Teams Up with AVEVA’s Digital Transformation Solutions Proven to Drive Industrial Sustainability Initiatives

Schneider Electric, the leader in the digital transformation of energy management and automation, and AVEVA, a global leader in industrial software, driving digital transformation and sustainability, announced today that their combined technology offerings are supporting the sustainability initiatives of mining companies in four key pillars: energy efficiency, yield improvement, low greenhouse emission technology adoption, and new green processes.
Global decarbonizationis heavily reliant on the sustainable production of minerals and commodities. A thriving and healthy mining and metals sector is crucial for the global economy and to support the innovation of new technologies and materials needed for climate change reduction, environment protection, and the circular economy.
Schneider Electric and AVEVA are providing the tools required by organizations to make informed decisions that will empower people across the mining, minerals, and metals value chains to be more strategic in their choices based on sound advice with sustainability in mind.
They are assisting operators and managers in these choices leaving these organizations well positioned to tackle some of the challenges associated with adopting sustainable practices, potentially resulting in reduced operating costs and thus providing the rare ability of appeasing all stakeholders.
According to an IDC Technology Spotlight, sponsored by AVEVA and Schneider Electric, Transitioning to Sustainable Mining, Minerals and Metals Practices, the top three market pressures driving the sustainability agendas of mining and metals organizations are:
- Need to improve brand equity
- Reduce the risk of an adverse event
- Ensure compliance with current and future regulations

Ben Kirkwood, Senior Research Manager, IDC Energy Insights – WW Mining.
“Technology has a critical role to play in supporting mining companies,” said Ben Kirkwood, Senior Research Manager, IDC Energy Insights – WW Mining.
“Efforts to hitsustainability targets and gain greater visibility and control over operations will enable corporate insight and action relating to energy, water usage, and management of the operational environment. IDC’s global analysis of the revenue growth and profitability of industrial companiesshows that those with a committed and ongoing sustainability-based strategy combined with a long-term, funded, digital transformation agenda considerablyoutperformtheir competitors.”
Digitalization Underpins Mining and Metals Sustainability
The IDC Technology Spotlightalso reinforces the fact that as the industry continues to experience backlash from its perceived stagnant position on sustainability, platforms with added analytics are enabling improved operational efficiencies while enhancing the visibility of the changes being made.

David Willick, VP North America, Mining, Minerals and Metals Segment, Schneider Electric
“Digitally integrated operations can address key areas of an organization’s sustainability agenda by combining power and process intelligence and controls,” said David Willick, VP North America, Mining, Minerals and Metals Segment, Schneider Electric.
“Digitalization is a critical evolution for the resources industry, and Schneider Electric and AVEVA are uniquely qualified to help. We are experts at marshalling the power of connected systems and human insight to bring operational performance to its highest level.Together, we have won the trust of the world’s leading companies with thousands of implementations onsite and in the cloud. Today our joint customers can benefit from ourshared customer-centric innovation culture, unmatched R&D capabilities,and extensive sector-specific expertise.”

Martin Provencher, Industry Principal, Mining, Metals and Materials, AVEVA.
“Although the benefits of digital transformation are crystal clear, the mining industry has thus far been limited by legacy infrastructure, data inadequacies, and piecemeal optimization programs,” said Martin Provencher, Industry Principal, Mining, Metals and Materials, AVEVA.
“Increasingly virulent cyberattacks and a growing mandate for decarbonized minerals have further emphasized the importance of having high data availability and embracing a secure, cloud-first approach to visualize and contextualize enterprise-wide processes across global operations. The combination of Schneider Electric’s energy management solutions, automation systems and services, and AVEVA’s Digital Mining Transformation solutions enableour customers to transform conventional mining operations into intelligent, resilient and sustainable undertakings.”
Corporate Knights recently named Schneider Electricthe world’s most sustainable company. According to the IDC Technology Spotlight, Schneider Electric’s EcoStruxure platform combined with AVEVA’s Digital Mining and Metals Transformation solutions can provide the operational and organizational insight required to make sustainable operations and improved decisions through the collection and analysis of data.
The partner companies aim to decarbonize the mining, minerals and metals value chains through the provision of an industrial IoT platform with technology and software elements supporting the capability for energy management and
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
Bank customers to ditch SMS alerts for email amid rising charges

Some bank users in Abuja have declared they will opt for electronic mail alerts from their banks to cut costs and reduce charges on their accounts.
Some of them who spoke to the News Agency of Nigeria (NAN) on Sunday said they would deactivate the Short Message Services transaction alert linked to their accounts.
Mrs Dorathy Azinge, a customer of GTCO, described the increase in SMS charges as exploitative.
Azinge said that in spite of various transaction charges debited from her bank account on a daily basis, the bank still increased SMS charges.
”This move of increasing SMS charges is very exploitative even though they cited telecommunication charge.
”What about all the numerous unwarranted debits that I get from my account, and they are using telecommunication increase as yardstick to increase theirs.
”GT will remove different charges from my account until they give me minus balance,” she said.
Another customer, Ms Elizabeth Abu, said she would visit her bank to opt for her transaction alerts to be sent to only her e-mail address.
Abu who complained about the reduction in her capitalised interest on her account, said the numerous debits were becoming frustrating.
” It does not make sense for the bank to charge me for a transaction I did and also charge me for the alert they sent.
” It means that customers are the ones paying heavily for all these services.
” These charges are reflecting on the profits declared by these banks, and we are the ones paying for this,” she said.
Mr Clement Arubu, a customer with First HoldCo Plc, said he received various transaction debit alerts from his bank totalling N1, 050 monthly.
Arubu said the debits were huge, especially when calculated between 10,000 customers of the bank.
” Most customers receive these alerts and neglect them because to them, the money is small but when you debit the same money from about 10,000 customers then, you can be sure that the money is huge,” he said.
Mrs Catherine Itoha,, said a bank had yet to reverse over N20,000 debited from her account through various failed Point of Sale transaction since about 11 months.
Itoha urged some banks and their staff to adopt principles of fair practice in handling their customers.
” Customers are the reason why banks are in existence so, we deserve to be treated fairly.
”GTB debited me in about four different transactions that I did but up till now, they did not reverse any of these monies.
”I visited the bank, filled forms, spoke to their staff personally but still the issue was not resolved since last year.
”If this money did not go to a staff, it means it is part of their profit,” she alleged.
Mrs Esther Arthur, a Fidelity Bank customer alleged that some of the banks were making profits from charges on customers for their transactions.
Arthur described the situation as sad and frustrating, recounting,”I withdrew N10,000 from a First Bank Automated Teller Machine and the machine showed me that I will be charged N100 because it wasn’t my bank.
”When I finished the transaction, to my greatest surprise an alert came into my phone and when I checked it, it was an alert of N630.00 against the N100 on-site ATM charges that the Central Bank of Nigeria instituted.
”This is so sad,” she said.
Mr Augustine Ode, a Zenith Bank customer, appealed to the CBN to check excesses of some banks that were allegedly defrauding customers.
The News Agency of Nigeria (NAN) reports that GTCO had informed its customers of the SMS transaction alert fee increase from N4 to N6 per message.
The bank had said that the adjustment was due to a recent increase in telecom rates.
Credit: NAN
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.
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