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Fidelity emerges Export Finance Bank of the Year at BAFI awards 2023
Photo caption: L – R: Executive Director/Chief Risk Officer, Fidelity Bank Plc, Mr. Kevin Ugwuoke; Group Chief Executive Officer, Emerging Africa Group, Mrs. Toyin Sanni; and Executive Director, Lagos and South West Business, Fidelity Bank Plc, Dr Ken Opara at the BusinessDay and Other Financial Institutions’(BAFI) Awards 2023 where Fidelity Bank received the award of the “Export Finance Bank of the Year” over the weekend.
Fidelity Bank Plc’s leadership in the exports space has once again been reaffirmed with the bank’s emergence as the Export Finance Bank of the Year at the BusinessDay and Other Financial Institutions’(BAFI) Awards 2023.
The bank was presented the award at a prestigious dinner event held on Saturday, 28 October 2023 at Lagos Continental Hotel, Victoria Island, Lagos.
“The BAFI Awards is the benchmark of distinction for institutions in the Nigerian financial services sector. Now in its 10th year, the awards recognises and celebrates organisations that excel in the delivery of financial services in Nigeria,” read a statement by BusinessDay Media Limited, the award organisers.
Commenting on the award, MD/CEO Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe said, “We are grateful for this recognition and dedicate the award to our customers who rely on us to provide the right support for operating effectively in the global non-oil exports market space. As a bank, we remain committed to our goal of helping individuals grow, inspiring businesses to thrive and empowering economies to prosper.”
It would be recalled that the bank recently hosted the second edition of its non-oil exports expo tagged the Fidelity International Trade and Creative Connect (FITCC) in Houston, Texas, United States of America. At the two-day event, the bank signed a cocoa pre-export deal with AFREXIM Bank and JohnVents Industries worth $40million dollars which has been adjudged as a landmark development by analysts in the exports space.
FITCC Houston also featured exhibitions by more than 160 Nigeria and US-based businesses as well as panel sessions as stakeholders engaged on strategies to increase the pipeline of Nigerian businesses that export into the US market. In recognition of the bank’s commitment to fostering bilateral trade and economic development between Nigeria and the USA through its FITCC initiative, the Mayor of the City of Houston, Sylvester Turner, proclaimed October 25, 2023 as FITCC Day in Houston Texas.
Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged customer commercial bank with over 8 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels.
The bank has won multiple local and international awards including the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.
News
Speaker, 14 other River State assembly members decamp to APC
15 members of the Rivers State House of Assembly, led by Speaker Martin Amaewhule, have left the Peoples Democratic Party, PDP, for the All Progressives Congress, APC.
Amaewhule disclosed the lawmakers’ decision during Friday’s plenary, attributing their defection to what he called a “clear division” within the PDP.
“Distinguished colleagues, very happily, let me announce that your Speaker has decided, and has indeed written to my ward chairman of my decision, to leave the PDP. APC is my new party,” Amaewhule said.
Amaewhule’s Deputy, Dumle Maol, is one of the 16 lawmakers that joined APC as well.
All the lawmakers, who have jumped ship, are core loyalists of the Minister of the Federal Capital Territory, FCT, Chief Nyesom Wike.
News
CBN rolls out new directives to track financial fraud
The Central Bank of Nigeria,has rolled out a new framework ito expedite handling of fraud accusations and refund victims.
Customers must report suspected fraudulent transactions within 72 hours under this draft guideline, and financial institutions have 16 working days to look into the matter and repay money.
The action comes in the wake of a dramatic increase in banking sector fraud.
According to data from the Financial Institutions Training Center, losses in the first quarter of 2025 increased to ₦3.29 billion, a startling 603 percent increase over the previous year. In the same time frame, reported cases also increased to 12,347.
The November 26, 2025, proposed regulations seek to improve bank accountability, expedite reimbursements, and boost prevention.
Director of the Financial Policy and Regulation Department Rita Sike signed the circular, which describes stricter regulations intended to prevent fraud before it occurs.
The apex bank’s ongoing fight against financial fraud has advanced with the adoption of this guidance. To enhance cooperation between operators, it established the Nigeria Electronic Fraud Forum in 2011.
It directed banks to establish specialized fraud bureaus four years later. By requiring BVN or NIN for account opening, it reinforced Know Your Customer checks in 2023.
News
DSS arrests medical doctor treating wounded terrorists
Operatives of the Department of State Service have arrested a medical doctor treating wounded kidnappers inside the forest in different parts of Kwara State.
The suspect, whose name could not be ascertained at press time, was also involved in supplying drugs to kidnapping gangs operating in Kwara.
The DSS intercepted the medical doctor in the Jebba area after intelligence reports revealed that some couriers had been moving medical supplies from Sokoto to treat wounded bandits hiding in forests across the state.
A security official said many of the criminal groups have sustained gunshot injuries in recent encounters with forces.
The source said, “So, we are advising improved security measures in health facilities in thickly forested areas which the kidnappers may target.”
Confirming the development, the Chief Press Secretary to the Governor of Kwara State, Rafiu Ajakaye, said the arrest was another significant breakthrough in ongoing efforts to combat banditry.
Ajakaye noted that the state government will continue to strengthen collaboration with security agencies to shut down all channels aiding kidnapping activities.
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