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Stanbic IBTC Bank to Splash N156m on Customers

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Stanbic IBTC Bank Plc, a subsidiary of Stanbic IBTC Holdings Plc, has earmarked the sum of N156 million as loyality reward to its existing customers and those that would open accounts while the “Reward4Saving Promo Season 2” lasts.

The bank said that its Season 2 promo has three categories of rewards for the lucky winners, which are N100,000, N1 million and N2 million.

The first draw of this season, which took place this week at the Stanbic IBTC Head office on Walter Carrington Crescent, Victoria Island, Lagos State, saw 70 customers win cash prizes of N100,000 each.

The bank’s aim is to maintain this throughout the 12-month promo time by which a total of 840 customers would have been rewarded with N100,000 during the monthly draws.

The bank said that it would reward 28 customers with N1 million each in the quarterly draws, and seven customers with N2 million each in the grand finale draw.

Speaking at the May 2022 draws, Mr. Kunle Adedeji, the Chief Finance Officer (CFO) of Stanbic IBTC Holdings, said the bank recognised saving as an important aspect of its customers’ journey to financial freedom, and it is for this reason that Stanbic IBTC has decided to commence the second season of the Reward4Saving Promo to reward and inspire more customers to reach for their dream of financial freedom by improving their savings culture.

Adedeji said: “Our aim is to promote a savings culture by rewarding our existing and potential customers as they save for the future. As an end to end financial solutions provider, Stanbic IBTC is committed to creating channels and means of financial empowerment for its millions of customers while rewarding them for their dedication. Simply put, we put our money where our mouth is.

“Reward4Saving 2.0, as we like to call it, is themed “Bigger and Better”. This is because we have increased the expected wins to allow more customers from across the geo-political zones of the country walk away with cash prizes worth a total of N156 million, with individual wins ranging from N100,000 to N1 million and N2 million.”

The CFO further stated that existing and prospective customers could take advantage of this opportunity by saving a minimum of N10,000 in their savings account or @ease wallet, for at least 30 days.

He said that one electronic raffle ticket is issued for every N10,000 saved, thereby increasing the chances of winning, moreover new customers would also be rewarded with N500 worth of airtime and three months of free interbank transactions when they open a Stanbic IBTC Bank account.

 


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SEC Probes Ponzi Scheme Linked to FF Tiffany

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The Securities and Exchange Commission has revealed plans to commence investigation into the activities of an entity operating under FF Tiffany, allegedly running a fraudulent investment scheme that has defrauded citizens.

A statement by the SEC on Tuesday in Abuja said preliminary information revealed that the scheme, which promised investors unusually high and unrealistic returns, had resulted in the loss of several billions of naira.

The SEC said it viewed the activity as a threat to investor confidence and the overall integrity of the financial system.

The commission assured the public that it was working closely with law enforcement agencies and other relevant bodies to bring everyone involved in the unlawful operation to justice.

According to SEC, those found culpable will be prosecuted in accordance with the Investment and Securities Act and regulatory provisions.

SEC reiterated its earlier warnings to the general public to desist from engaging in Ponzi or unregistered investment schemes that promised guaranteed or exaggerated returns.

“These schemes are not registered with the SEC and do not offer investor protection under the law.

“The commission is currently investigating 79 schemes and will make a statement on its findings at the conclusion of the investigation,” the SEC said.

The commission encouraged investors to conduct due diligence and verify the registration status of any investment firm or product by visiting the SEC website or contacting the commission directly through official channels.

SEC said it remained committed to its mandate of protecting investors, ensuring fair practices, and maintaining confidence in Nigeria’s capital market.

 


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US Launches ‘Window on America’ @ Ogun Tech Hub

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The Ogun Tech Hub in Abeokuta, Nigeria received a significant step towards increasing digital access and empowering young people as US Embassy in Nigeria launched the ‘Window on America’ facility.

The newly opened centre will offer free high-speed internet, computer access, and targeted programs to help young Nigerians build essential skills in technology, entrepreneurship, and leadership.

In a post on X (previously Twitter), the US Embassy described the hub as a modern ICT and resource centre meant to promote digital inclusion and provide youths with skills.

“Hello Abeokuta! We’re thrilled to announce the opening of the Ogun Tech Hub Window on America. This dynamic space offers free high-speed internet, computers, and programs to help young people gain tech, leadership, and entrepreneurial skills,” the Embassy wrote.

The facility was established in collaboration with the Ogun State and GFA Technologies, a software solutions provider for startups and SMEs.

The Embassy said the facility is part of its wider network of 29 American hubs across Nigeria, designed to empower youth and broaden access to global knowledge and opportunities.

Speaking during the launch, Ogun State governor Dapo Abiodun urged young people to use the ICT industry for self-sufficiency and competitiveness globally.

He lauded the program as a public-private cooperation that connects Nigerian youngsters with global innovations.

The governor said: “The Ogun Tech Hub serves as a collaborative space for technologists, startups, and social entrepreneurs to develop tech-driven solutions for societal challenges. The partnership is aimed at positioning Ogun State as a leading tech hub in Africa, supporting creative problem-solving and commercial innovation.”

With the ‘Window on America’ program fully operational, Ogun State is well-positioned to boost youth empowerment and digital literacy.


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TikTok Removes Over 3.6m Videos in Nigeria, Citing Safety Priorities

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In a demonstration of its ongoing commitment to user safety, TikTok removed more than 3.6 million videos from the platform in Nigeria between January and March 2025, a 50% increase in removals over the previous quarter, for violating its Community Guidelines.
These figures were revealed in TikTok’s Q1 2025 Community Guidelines Enforcement Report, underscoring the platform’s priority of creating a safe, respectful and trustworthy digital environment.
With a proactive detection rate of 98.4%, which is content removed before it was reported to TikTok and 92.1% of videos removed within 24 hours, the report reflects TikTok’s continued investment in innovation, advanced technology, and expert moderation teams to improve enforcement systems that detect and remove harmful content before it reaches audiences.
With millions of positive, educational and entertaining videos uploaded on TikTok every day, TikTok is continually strengthening its ability to identify and remove content that goes against its Community Guidelines. The latest removals report represents a small fraction of the total number of videos posted by the Nigerian community quarterly; highlighting that the platform has more positive and empowering content.
In March 2025, TikTok also removed 129 accounts in West Africa tied to covert operations.
TikTok LIVE
While TikTok LIVE enables creators and viewers to connect, create and build communities together, in real-time, the platform has intensified its LIVE Monetization Guidelines, making it clearer how some content is not eligible for monetization.
LIVE content enforcement also remained a top priority. In the first quarter of 2025, TikTok banned 42 196 LIVE rooms and interrupted 48 156 streams in Nigeria that were found to violate the platform’s community guidelines.
A global system for localised protection
Globally, more than 211 million videos were removed in Q1 2025, up from 153 million in the previous quarter, with over 184 million removed through automation. The platform’s global proactive detection rate reached 99%, demonstrating continued improvements in identifying and removing harmful content quickly and effectively.
Despite these high-volume interventions, harmful content still represents a very small portion of what users post. Globally, less than 1% of content uploaded to TikTok is found to violate its community guidelines, a testament to its continued prioritisation of proactive safeguards.
Bringing resources to Nigeria’s community, together
In June, TikTok Africa hosted its “My Kind of TikTok Digital Well-being Summit” bringing together experts, NGOs, creators, media and industry leaders from across Sub-Saharan Africa, including Nigeria, to collectively explore, tackle, and improve the state of digital wellbeing both on and beyond the platform.
Part of a suite of announcements made at the Summit and building on a successful pilot in Europe, TikTok is expanding in-app helpline resources to Nigeria, in partnership with Cece Yara, a child-centered non-profit organisation prioritising youth safety and support. This means that in the coming weeks, young users in Nigeria will have access to local helplines in-app that provide expert support when reporting content related to suicide, self-harm, hate, and harassment.
Collaborating with experts, TikTok has also announced Nigeria’s Dr Olawale Ogunlana (Doctor Wales) as a TikTok Digital Well-being ambassador, part of a diverse group of verified healthcare professionals from the WHO Fides Network.
Alongside these efforts and commitment to safety, TikTok encourages community participation through user reporting and education. As part of its ongoing #SaferTogether campaign, the platform advocates for a more collaborative approach to creating a respectful online environment.
The Q1 2025 report reflects TikTok’s deepening efforts to safeguard its Nigerian user base, strengthen enforcement systems, and remain transparent about the measures being taken to uphold platform integrity.

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