Stanbic IBTC Re-affirms Commitment To SME’s

Stanbic IBTC Bank Plc has reaffirmed its commitment to supporting Nigeria’s small and medium company (SME) sector. The bank recently held a webinar titled “Scaling Your Business in Challenging Economic Times,” which was well-attended by eager entrepreneurs hoping to overcome the economic issues that their businesses are now facing. The COVID-19 pandemic, a lack of innovative solutions, and a lack of access to adequate business finance, according to Wole Adeniyi, CEO of Stanbic IBTC Bank, are among the difficulties that have bedeviled Nigeria’s SME sector in recent years. “As a business entity, Stanbic IBTC understands that running a business is […]



SMEs and Households Benefit From The Central Bank of Nigeria (CBN) N253 billion Fund

As part of its response to the COVID-19 pandemic, the Central Bank of Nigeria has released N253 billion to 548,345 recipients. Osita Nwanisobi, the bank’s acting director of corporate communications, revealed this on Thursday at the bank’s special day at the current 42nd Kaduna International Trade Fair, noting that the beneficiaries included 470,969 families and 77,376 SME’s. Nwanisobi, who was represented by Ahmed Mohammed Wali, Branch Controller, Kaduna, said the bank reduced the interest rate on CBN intervention loans from 9% to 5% to encourage more lending, and that the NIRSAL microfinance bank initially created a N150 billion Targeted Credit[…]



Wema Bank Improves SME Financial Literacy

Wema Bank Plc has reaffirmed its commitment to improving financial literacy and optimisation among its customers, particularly in the country’s Small and Medium Enterprises (SMEs). Facilitators presented thoughts on how SMEs may upscale their operations and the Wema products/services they can employ in a recent webinar titled “Unbundling Tax, Legal, and Compliance – Issues for SMEs.” The webinar is one of the ways the bank is educating its stockholders about financial literacy and business optimization. Hilary Ajodo, Head, Legal Services, Wema Bank; Taiwo Oyedele, Fiscal Policy Partner & Africa Tax Leader, PricewaterhouseCoopers (PwC); Linda Ochugbua, Head, Online Sales & Digital[…]