E-Financial
UNIC, TWYEF Tasks Parents on Digital Savvy Children
As the United Nations Information Centre (UNIC) Lagos in collaboration with Tehila Women and Youth Empowerment Foundation (TWYEF) joined the rest of the world recently to mark the Global Day of Parents, one issue that has remained on the front burner of public discuss is the challenges of parenting digital savvy children.
At the Panel Discussion programme organised to mark the day in Lagos, Nigerian parents have been urged to keep abreast of their children and be social media smart.
Speaking on ‘Contemporary Parenting and the Social Media’, Dr Ifeoma Amobi of the department of Mass Communication, University of Lagos, warned that interaction of young people on social media platforms should no longer be dismissed as a ‘waste of time’, but must be acknowledged by parents as a part of contemporary communication.
‘The new way of life, brought on by the spread and development of communication technology, demands different ways of parenting due to the altered fabrics of parent-child relationships,’ Dr. Amobi contended, ‘Parents should be their children’s best friends and should do so by becoming “social media smart”. She added that in order to fulfil parents’ duty of protecting their children, online activity should be treated with the same diligence as offline activity.
Established by the United Nations General Assembly in September 2012, the Global Day of Parents is observed on the 1st of June every year to honour parents around the world. It acknowledges that parents of every race, religion, culture and nationality in all parts of the world are the primary caregivers and teachers of their children, preparing them for a happy, fulfilling and productive life.
The Panel Discussion programme chaired by the Erelu of Lagos, Her Royal Highness, Abiola Dosunmu, attracted men and women, literate and non-literate, from all walks of life they gathered just to commemorate the Day3 in Nigeria.
Welcoming the participants, Mr Ronald Kayanja, director of UNIC Lagos, highlighted the importance of parents to the development of the child, the community and the nation.
He observed that the success of the United Nations’ mission to promote international peace and security, ensuring a world free from war and conflict, was dependent on the direction parents provided for their children and the society.
High Table Quoting from the preamble of the United Nations Educational, Scientific and Cultural Organisation (UNESCO), Kayanja observed that “Since wars begin in the minds of men and women, it is in the minds of men and women that the defences of peace must be constructed”. He added that parents played an integral role in peace building through teaching values of tolerance, respect for one another, hard work and integrity among others.
In her remarks, Mrs Stephany Nwanma, executive director of TWYEF, re-emphasised the importance of education and restoration of values through parenting and urged parents to rise up to the challenges of contemporary parenting.
Speaking on “Critical Issues and Challenges with Parenting in Nigeria”, Dr. Ebun Sonaiya, Chief Medical Director and Director of Total Health Trust, observed that peer pressure from an early age, the excessive use of technology and gadgets, being subjected to bullying, a sense of entitlement, drugs and substance abuse, sexual experimentation as well as sibling rivalry were the challenges children and parents face at this time in the global development. ‘The parenting skills needed to tackle these challenges are not taught in schools or homes rather parents need to devise a more practical approach to navigate the challenges,’ he added.
Her Royal Highness addressed the issue of gender equality and women’s empowerment stating that fathers and mothers should be equally responsible for parenting, as “women have always been working side by side to create a happy home for children”.
In her ‘Testimony of a Parent’, Mrs Chinyere Anokwuru, the former Senior Special Assistant to the Governor of Lagos state on women ethnic groups, recounted how her parents upheld integrity and values in the face of hardship and poverty to raise her. She added that the values handed down to her by her parents had brought her to where she was at the moment.
According to Mr. Oluseyi Soremekun, National Information Officer of UNIC, participants called on UNIC Lagos and TWYEF to organise a similar programme but for a larger audience.
They also requested that the presentations be published for wider circulation of the issues and for references purposes.
FundQuest Financial Services Limited marked this year’s International Women’s Month with a renewed commitment to economic empowerment, hosting the inaugural FundHER by FundQuest Conference.
This initiative brought together over 100 women-led Small and Medium Enterprises (SMEs), providing them with actionable business insights, high-value networking, and, most importantly, access to funding.
Delivering the first keynote address, Dr. Jennifer Seidu, Principal Consultant, JV Management Consulting Limited, underscored the critical hurdles female entrepreneurs face: constrained access to funding, market expansion limitations, regulatory roadblocks, and operational inefficiencies.
She lauded FundQuest’s decisive intervention through FundHER, recognising the initiative as a timely and much-needed response to the financial inequities that women-led businesses encounter.
Joan Ediagbonya, Group Head, Brand Communication and Customer Experience at FundQuest, also reinforced these concerns with data, pointing out that while women own 45 per cent of SMEs in Nigeria, only 10 per cent have access to formal funding. Quoting Michelle Obama, she emphasised, “No country can ever truly flourish if it stifles the potential of its women and deprives itself of the contributions of half of its citizens.”
Similarly, Ms. Olubukola Olaigbe, CEO of Veedic Nigeria Limited, shared how accessing financing from FundQuest facilitated her logistics firm’s expansion, proving that with the right financial support, women entrepreneurs can achieve remarkable business growth.
Speaking on the future of FundHER, Mr. Abiodun Akinjayeju, Managing Director and CEO of FundQuest, made it clear that this initiative is here to stay. In his words; “If you educate a woman, you educate a nation; if you fund a woman’s business, you are funding the economy.”
Fidelity Bank Plc, leading financial institution, released its 2024 full-year Audited Financial Statements, reporting a 210% growth in Profit Before Tax to N385.2 billion.
According to the Bank’s results released on the Nigerian Exchange (NGX) on Friday, 28 March 2025, Gross Earnings increased by 87.7% to N1,043.4bn, driven by 106.9% growth in interest and similar income to N950.6bn.
The increase in Interest Income was led by a combination of improved yield on earnings assets and 51.6% expansion in earnings base to N6.3tn. This led to a Profit After Tax of N278.1 billion, representing a 179.6% annual growth.
Commenting on the results, Dr. Nneka Onyeali-Ikpe, managing director/chief executive officer, Fidelity Bank Plc said, “We are delighted with our 2024 full-year (FY) performance, which showed strong growth across key revenue lines, improved asset quality, and significant traction in our strategic business segments.
“Our impressive results led to a triple-digit increase (210.0%) in Profit Before Tax (PBT), rising from N124.3bn in 2023 to N385.2bn in 2024.”
A further review of the financial performance revealed that the bank’s net interest income increased by 127.1% to N629.8 billion, driven by a high-yield environment in 2024.
To optimize its margin, the bank sustained its asset yields above funding cost by maintaining a high low-cost deposit profile at 92.6%. This led to an increase in its Net Interest Margin from 8.1% in 2023 FY to 12.0%.
Similarly, the bank continued to deepen its market share in both the corporate and retail segments, with customer deposits increasing by 47.9% from N4.0trn in 2023FY to N5.9trn. The increase was driven by strong double-digit growth across all deposit types.
The Retail Banking Business gained significant traction with savings deposits increasing by 28.8% to N1.1trn, marking the 10th consecutive year of double-digit annual growth in savings deposits.
Despite the difficult economic terrain in 2024, the bank has continued to support the real sector of the economy by increasing its Net Loans & Advances from N3.1tn in 2023FY to N4.4tn in 2024FY.
“This remarkable performance demonstrates our capacity to deliver superior returns to our shareholders. In line with our commitment to them, we have declared a final dividend of N1.25 per share, bringing our total dividend for the 2024 financial year to N2.10 per share”, explained Onyeali-Ikpe.
Having consistently paid dividends since 2006, Fidelity Bank will pay investors a total dividend of N2.10 per share for the 2024 financial year, subject to shareholders’ approval at its Annual General Meeting (AGM) on 29 April 2024. The dividend will be paid on 29 April 2025 to shareholders whose names appear on the register of members as of 15 April 2025.
It will be recalled that the bank successfully completed the first phase of its capital raising exercise through a Public Offer and Rights Issue in 2024, which were oversubscribed by 237.92% and 137.73%, respectively.
The positive result is a testament to the strength of the Bank’s franchise in the capital market. A total of N175.9bn was recognized as fresh capital in 2024 financial year from the exercise, which had a positive impact on its Capital Adequacy Ratio (CAR) at 23.5%.
The bank plans to conclude the second phase by Q3 2025, ahead of the Central Bank of Nigeria’s deadline, which will further strengthen its capital base and reaffirm its attainment of Tier 1 Bank status in the Nigerian Banking Industry.
Fidelity Bank Plc is a full-fledged commercial bank with over 9.1 million customers who are serviced across its 251 business offices and various digital banking channels in Nigeria and the United Kingdom.
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
The World Bank has approved a $500 million loan to Nigeria to support the country’s Community Action for Resilience and Economic Stimulus Programme.
According to information obtained from the bank’s website on Sunday, the approval, which took place on March 28, 2025, marks a significant step in addressing Nigeria’s economic challenges through expanded access to livelihood support, food security services, and grants for poor and vulnerable households and firms.
The project, officially titled the NIGERIA: Community Action (for) Resilience and Economic Stimulus Program, aims to provide essential support to households affected by economic downturns and to bolster community resilience.
It also seeks to improve food security and create economic opportunities for populations most affected by recent economic disruptions.
According to the World Bank, the program represents a significant step toward addressing systemic vulnerabilities in Nigeria’s economy.
By channeling resources directly to underserved communities, the project should alleviate the burden of rising living costs while fostering sustainable growth.
The $500 million loan is not the only financial commitment Nigeria anticipates this week as two additional funding packages are in the pipeline, awaiting final approval.
One of the loans is valued at $80 million and will focus on accelerating nutrition outcomes across the country.
The second, worth approximately $552 million, is designed to enhance access to quality basic education nationwide as both projects are scheduled for final clearance on March 31, 2025.
These loans are part of the World Bank’s broader strategy to support Nigeria’s development priorities, most especially in areas such as healthcare, education, and poverty alleviation, while the institution emphasized the importance of implementing these programs efficiently to ensure maximum impact.
While the loans aim to address urgent socio-economic needs, Nigeria’s rising debt profile has raised concerns among stakeholders. Under the President Bola Tinubu’s leadership, the country has received approvals for 11 World Bank projects totaling 7.45 billion in less than two years. However, data from the Debt Management Office (DMO) reveal that only 774.99 million (about 16% of the approved amount) had been disbursed as of July 31, 2024.
This slow pace of disbursement has sparked debates about the efficiency of project execution and fund utilization
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