E-Financial
Unity Bank Dangles N10m Grant on Winners of Corpreneurship Challenge
Nigerian lender, Unity Bank Plc has doled out a N10 million business grant to 30 corps members who emerged the winners of the eighth edition of its flagship Entrepreneurship Development Initiative, known as Corpreneurship Challenge.
L-R: Mr. Alao Olusegun Olawushebikan – Delta State NYSC State Coordinator; Bede Okoye, Unity Bank Zonal Service Manager, Asaba Region; Lucky Egbelelo – 2nd Prize Winner of Corpreuneurship Pitch Delta State and Mr. Abu Igemohia Mohammed – RM, Edo/Delta region during a check presentation to winners of Corpreneurship Challenge recently.
The winners emerged after a business pitch that took place across 10 states – Rivers, Delta, Sokoto, Edo, Abuja, Akwa-Ibom, Osun, Kano, Bayelsa and Enugu recently.
At the Rivers State NYSC Orientation camp at Nonwa Gbam Tai, the winners included Moses Obianuju Gloria, a fashion entrepreneur whose business plan won N500, 000 grant for a fabric production company; Emmanuel Godwin Adole, a budding commercial rice farmer who won N300, 000 grant; and Okotie Racheal Dokubere who took home N200, 000 grant to support her fashion production outfit specialising in office and outdoor outfits for women.
In Delta State, where the Corpreneurship Challenge also debuted in this edition, Adegoke Blessing Hezekiah, a fish farmer emerged as the overall winner to claim the N500,000 grant, while Egbelelo Lucky Etanami, a fashion entrepreneur and Tob Tamaraumien Ruth, emerged the first and second runner up to claim N300,000 and N200,000 prizes respectively.
Other winners from other states were also drawn from contestants whose business plans included fish production, poultry farming, fashion, soap and cake making, printing, piggery and beverage making.
To emerge as the winners, their business plans were assessed on originality, marketability, future employability potential of the product and knowledge of the business.
Speaking during the finale in Delta State, Mr. Olufunwa Akinmade, group head, Retail, E-Business and SME Banking, Unity Bank Plc, said the competition has gradually become Nigeria’s premium business plan contest for emerging entrepreneurs.
“When we started the initiative in 2019, we had set out to inspire a new generation of entrepreneurs in Nigeria. So far, the initiative has resonated with the target audience and there is no gainsaying the fact, that this will continue to have a huge impact on job creation across the country.
Represented by Mr. Abu Igemohia Mohammed, regional manager, Edo/Delta Region, Akinmade reiterated, “As we have maintained, the grants are not a loan and we want the money to be directed towards the profitable ventures which have been selected. We continue to encourage the winners to continue to learn the rudimentary lessons necessary to build a successful business. We emphasize that the budding entrepreneurs who take part in this initiative constantly think about the challenges they will face and put the same energy they all have displayed in preparing for this contest in their businesses as they face their post-service year ahead.”
He said the Bank will sustain the programme in order to achieve a record impact on entrepreneurship support and job creation.
The Corpreneurship Challenge, which has earned the Bank national recognition for its impact on youth empowerment and job creation, has continued to elicit growing interest among the corps members, attracting over 2000 applicants and participation in every edition.
In partnership with the NYSC Skill Acquisition and Entrepreneurship Development, SAED, the initiative prominently features a business pitch presentation that provides the participants with the opportunity to present their business plans and stand a chance to win up to N500, 000 cash in the business grant.
So far, Unity Bank has invested over N100 million in the initiative which has now produced 88 winners since it was launched.
Federal government is still open to crypto businesses operating in the country despite the ongoing lawsuit against Binance, crypto exchange and the high-profile detention of Tigran Gambaryan, Binance executive.
Mohammed Idris, minister of Information, said Friday, that the lawsuit was part of the government’s effort to strengthen regulations, not to target specific companies.
“This is part of the effort to strengthen our laws, not to cripple anybody. We are ensuring that no one comes and operates without regulation,” Idris told the outlet.
Nigeria filed an $81.5 billion lawsuit against Binance in February, claiming the exchange crashed Nigeria’s local currency, the naira, and said that Binance owed $2 billion in back taxes as the Nigerian government continues to grapple with sensible crypto policy.
“We are ensuring that no one comes and operates without regulation,” Idris said, noting that other crypto companies in Nigeria continue to operate without facing legal challenges.
“There are other companies operating in the crypto sector in Nigeria, you don’t see them [facing charges],” he added.
Idris also highlighted concerns over the potential misuse of cryptocurrency for illicit activities, including terrorism financing, money laundering, and tax evasion.
He pointed out that the issue of illicit financial flows is a global concern, stressing the importance of international cooperation to ensure that transactions in the crypto space align with financial regulations.
“It is not just Nigeria. Internationally it’s also important to address illicit financial flows. You can’t have a huge amount of transactions that do not meet the operations of financial dealers,” Idris said.
Flutterwave, Africa’s leading payments technology company, is now enabling digital tax collections for the Federal Inland Revenue Service (FIRS), making it one of the few fintechs supporting the government in modernizing tax payments.
L-R: Mr Gbenga Badejo; Mrs. Olufunmilayo Olaniyi, Senior Vice President, Business Development, Flutterwave; Dr. Zacch Adedeji, Chairman, FIRS; Mr. Olugbenga ‘GB’ Agboola, Founder and CEO, Flutterwave and Mr Oluwabankole Falade, Chief Legal, Regulatory Affairs & Public Policy Officer.
This development allows the FIRS to leverage Flutterwave’s seamless and secure payment infrastructure to collect taxes, levies, and other payments from businesses and individuals across Nigeria.
Flutterwave’s payment technology simplifies tax payments for individuals, Small and Medium Enterprises (SMEs), and large corporations, ensuring a fast, transparent, and accessible tax payment experience.
By integrating with the FIRS, Flutterwave provides diverse digital payment options, real-time reporting and tracking, offline tax payment capabilities, and a secure payment system for Nigerians both at home and in the diaspora.
Olugbenga ‘GB’ Agboola, CEO of Flutterwave, stated: “At Flutterwave, we are committed to leveraging technology to drive efficiency and economic growth. By making tax payments easier and more transparent, we are helping to digitize government collections and support national development which is in line with our mission.”
This integration also brings key advantages, including real-time reporting and tracking of payments, diverse digital and mobile payment options, offline tax payment capabilities, enhanced transparency for both taxpayers and the FIRS, and providing Nigerians in the diaspora an avenue to seamlessly pay their taxes.
These advancements align with the commitment of the Federal Inland Revenue Service to modernize government collections and improving user experience.
Olufunmilayo Olaniyi, Senior Vice President, Business Development at Flutterwave, emphasized the company’s dedication to serving Nigerians: “Working with the public sector is pivotal to shaping the future of digital payments in Nigeria. This underscores our commitment to delivering solutions that serve Nigerians better, foster trust, and drive impactful innovation through strategic collaboration.”
With its proven track record across Africa, Flutterwave continues to play a key role in public sector digitization efforts in Nigeria.
In 2024, Flutterwave also partnered with the Economic and Financial Crimes Commission (EFCC) to establish a cybercrime research center, reinforcing its dedication to financial security and innovation.
As one of the primary fintechs facilitating government tax collections, Flutterwave remains at the forefront of financial technology solutions that enhance business operations and enable growth across Nigeria and beyond.
Bank of Industry (BOI) has launched a special intervention programme, Project Guaranteed Loans for Women (GLOW), valued at ₦10 billion to support female entrepreneurs across the country.
The initiative, launched in collaboration with the Women Chamber of Commerce, Industry, Mines, and Agriculture (WCCIMA), seeks to bridge the financial inclusion gap for women-led businesses.
Dr. Olasupo Olusi, managing director, BoI, said at the launch in Lagos, yesterday, the Nigeria leads the world in women’s entrepreneurial activity, with 23 million female entrepreneurs accounting for 41 per cent of the country’s micro-businesses.
Olusi decried that access to finance remained a major challenge for women looking to scale their businesses.
He, however, noted that BOI was committed to supporting female entrepreneurs with strategic funding initiatives designed to drive economic growth and innovation.
According to him, the bank’s 2025-2027 strategy prioritises gender-focused financial inclusion, targeting critical financing gaps and exploring actionable solutions for female-led businesses.
“Women entrepreneurs drive innovation, create jobs, and strengthen communities. However, financing remains one of their biggest challenges.
“Our goal today is to listen, simplify financing processes, and build a strong network that fosters sustainable growth,” Olusi stated.
He also reaffirmed BOI’s commitment to providing financial solutions for women-led businesses in partnership with the Women Chamber of Commerce, Industry, Mines, and Agriculture (WCCIMA).
Olusi revealed that the ₦10 billion GLOW Fund was established in collaboration with WCCIMA to enhance access to capital for female entrepreneurs.
Additionally, he outlined other BOI financial interventions, including: the BOI Impact Fund, $2 million investment in Aruwa Capital, a female-led investment firm and $50 million partial risk guarantee partnership with the African Guarantee Fund
Dr Weyinmi Eribo, director general, WCCIMA, emphasised the need for sector-specific financing tailored to women-led businesses.
She pointed out that while women-owned businesses were among the fastest-growing in Nigeria, the financial sector had yet to fully recognise them as a critical market segment.
Eribo noted that the financing gap for women-owned businesses exceeded $42 billion, describing this as a missed opportunity for national economic growth, job creation, and poverty reduction.
She warned that without intentional, tailored financing, women-led businesses would struggle to scale and compete effectively.
“Women entrepreneurs account for over 40 per cent of Nigeria’s small and medium-sized enterprises (SMEs), yet many remain excluded from mainstream financing due to systemic barriers,” she stated.
Eribo commended BOI for launching the GLOW Fund and acknowledged the contributions of the bank’s gender desk team.
She pledged that WCCIMA, in partnership with BOI, would ensure that these funding initiatives translated into measurable impacts for female entrepreneurs.
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