The request, submitted in a letter to the leadership of the Senate and House of Representatives, is part of the administration’s broader effort to address pension arrears that have accumulated over several years.

According to the President, the bond issuance is intended to clear backlogs owed to thousands of federal retirees, many of whom have waited years for their entitlements.

“This bond will help fulfil our commitment to Nigeria’s retired workforce, whose years of dedicated service must be honoured,” the letter reportedly stated.

If approved, the bond will be disbursed through the National Pension Commission (PenCom) and managed in accordance with existing guidelines under the CPS framework.

Lagos State Clears ₦70bn Pension Arrears

While the federal government moves to secure legislative backing for its pension intervention, the Lagos State Government has taken a significant step in settling its own pension obligations.

The state recently announced that it has disbursed ₦70 billion in accrued pension rights to 20,956 retirees from the mainstream civil service, local governments, State Universal Basic Education Board (SUBEB), Teaching Service Commission (TESCOM), and other parastatals.

Commissioner for Establishments and Training, Mrs. Afolashade Olayinka, confirmed the development, noting that the payments were in line with Governor Babajide Sanwo-Olu’s commitment to the welfare of retirees.

“The governor understands the importance of timely pension payments. This ₦70 billion disbursement reflects our dedication to ensuring that retirees receive what is due to them without undue delay,” she said.

Human Stories Behind the Numbers

For many retirees, the recent payments are more than just a financial transaction — they are a lifeline.

“I retired in 2017 and have been living with uncertainty ever since,” said Grace Uche, a former headmistress who received her payment from Lagos State. “Now, I can finally live with dignity. I feel seen again.”

Labour unions and pensioners’ associations have applauded both the federal and Lagos State governments for taking concrete action on pension payments. However, they caution that timely implementation remains critical.

“This initiative from President Tinubu is commendable, but we urge the National Assembly to act quickly,” said Comrade Musa Ibrahim, Chairman of the Nigeria Union of Pensioners (NUP). “Delays have cost lives in the past.”

What’s Next

The National Assembly is expected to review the President’s bond request in the coming weeks. If approved, it could pave the way for one of the largest single interventions in Nigeria’s pension system.

Analysts say the move could signal a turning point in the government’s commitment to pension reforms and improve public trust in the administration’s social safety mechanisms.

As stakeholders continue to track developments at the federal level, Lagos’s progress may serve as a blueprint for other states looking to reduce pension liabilities and restore confidence among their retirees.

Stay informed, stay ahead with The Ameh News 

The post Hope for Retirees:Tinubu Seeks NASS Approval for ₦758bn Pension Bond as Lagos Disburses ₦70bn to Retirees appeared first on Ameh News.

The updated principles aim to strengthen deposit insurance frameworks in light of emerging global financial challenges. Key focus areas include the impact of digital innovation, the expanding role of deposit insurers in resolution processes, and key lessons from the March 2023 banking crisis — described as the most severe episode of systemic stress since the 2007–2009 global financial crisis.

In a statement issued by the NDIC’s Head of Communication & Public Affairs, Mrs. Hawwau Gambo, the Corporation stressed the importance of the IADI Core Principles as a benchmark for evaluating and improving national deposit insurance systems. These principles are also used by international financial institutions, including the International Monetary Fund (IMF) and the World Bank, during Financial Sector Assessment Programme (FSAP) reviews.

“The IADI Core Principles serve as a global standard for jurisdictions like Nigeria. They help identify gaps in deposit insurance practices and propose corrective measures to strengthen financial stability,” Gambo said.

The Core Principles were initially developed in 2009 by IADI in collaboration with the Basel Committee on Banking Supervision. Since then, they have undergone periodic revisions to keep pace with shifts in global finance.

As a founding member of IADI, the NDIC is encouraging active participation in the review process. Interested stakeholders can access the draft revised document via the NDIC website at: https://ndic.gov.ng/wp-content/uploads/2025/06/Draft-Revised-IADI-Core-Principles.pdf.

All feedback should be submitted in PDF format to iadi@ndic.gov.ng on or before June 30, 2025.

The NDIC says the input gathered will help shape policies that ensure Nigeria’s deposit insurance system remains responsive, resilient, and aligned with international best practices.

Stay informed, stay ahead with The Ameh News 

The post NDIC Calls for Stakeholder Input on Revised Global Deposit Insurance Standards appeared first on Ameh News.

In a quiet neighbourhood on the outskirts of Lagos, technicians from a major electricity distribution company (DisCo) were seen installing prepaid meters at no cost to residents. It’s part of a new initiative to distribute and install 100,000 free prepaid meters to customers — a move welcomed with relief by households long burdened by inaccurate billing.

“I’ve waited for over five years to get a prepaid meter,” said Mrs. Bola Ajayi, a civil servant who watched as her new meter was mounted. “Every month, I paid bills that didn’t reflect the power I actually used. This is a small but important step in the right direction.”

The free meter rollout comes at a time when the federal government is making critical moves behind the scenes to resolve one of the biggest financial challenges in the power sector — a staggering N2 trillion debt owed to electricity generation companies (GenCos).

Speaking at the second Nigerian Electricity Supply Industry (NESI) Stakeholders Meeting of 2025, held in Abuja and convened by the Nigerian Electricity Regulatory Commission (NERC), a representative of the Special Adviser to the President on Energy, Eriye Onagoruwa, confirmed that the Presidency had begun internal processes to settle the debt.

“This debt overhang has severely strained GenCos and disrupted electricity supply across the country,” Onagoruwa said. “We recognise the urgency and are working on alternative debt instruments to address this, given the federal government’s fiscal constraints.”

She added that the Coordinating Minister of the Economy and the Debt Management Office are fully aligned with the effort and that internal approvals are already underway. While no firm timeline was given, Onagoruwa expressed confidence that tangible progress would be shared before the next quarterly stakeholders’ meeting — hinting at a possible breakthrough within the next three months.

The GenCo debt has long been a drag on the entire power value chain, with gas suppliers also affected and unable to operate at full capacity. Analysts say clearing this debt could unlock more reliable generation and boost confidence across the sector.

As the free meters begin to tick and lights stay on a little longer in some homes, there is a renewed sense of cautious optimism. Between the meters on the streets and policy action in the corridors of power, many Nigerians are watching to see if 2025 could finally mark a turning point for the nation’s electricity woes.

“The meter may seem small, but it gives people control and trust,” Mrs. Ajayi said. “Now we just need the lights to stay on.”

Stay informed, stay ahead with The Ameh News 

The post Power Boost: DisCo Rolls Out Free Meters as FG Moves to Settle N2tn GenCo Debt appeared first on Ameh News.

The occasion was the Ajofa Special Education Foundation for the Deaf Mathematics Competition, a first-of-its-kind event sponsored by Union Bank of Nigeria through its UnionCares initiative. The theme — “Impacting Deaf Students and Life with Mathematics in Nigeria” — captured the essence of the day: inclusion, empowerment, and visibility for a community often left on the margins of mainstream education.

For many of the students, the competition was more than a chance to solve equations. It was a moment to prove that their potential extended far beyond the limits often set by society. Drawing participants from both within and outside the Lagos deaf community, the event was a gathering of young minds ready to rewrite the narrative about what it means to live — and learn — with a hearing impairment.

Union Bank’s Chief Brand and Marketing Officer, Olufunmilola Aluko, watched proudly as the students tackled challenging problems with quiet focus.

“At Union Bank, we believe that development must be inclusive. These students are not defined by their circumstances — they are thinkers and problem-solvers,” Aluko said. “Through UnionCares, we are building platforms that open up possibilities for all Nigerians, regardless of physical limitations.”

The Bank’s support made the vision of Francis Ajomiwe, founder of the Ajofa Foundation, come to life. Speaking through an interpreter, Ajomiwe shared how years of advocacy and organizing within the deaf community led to this moment.

“We’ve always believed that with the right tools and support, deaf students can thrive academically,” he said. “Union Bank’s support has helped bring our dreams to reality — dreams of inclusion, opportunity, and dignity.”

The event was also graced by representatives from the Lagos State Education Board, including Bukunola Famakinwa of the School Support Section. In her address, she underscored how access to quality education — especially in subjects like mathematics — can transform the lives of deaf learners.

“Mathematics empowers students to think critically, make informed decisions, and participate fully in society,” she said. “It is our duty to ensure deaf learners have the same opportunities as everyone else.”

After a rigorous round of problem-solving, three students emerged victorious:

• Samuel Megbodofo clinched first place,
• Tomilola Shonubi came second, and
• Opeoluwa Saka placed third.

Each received branded prizes from Union Bank — a gesture that was extended to all participants and teachers as a sign of appreciation and encouragement.

Beyond the awards and applause, what lingered was a quiet sense of triumph — not just for the winners, but for every student who dared to compete, every teacher who believed, and every institution that chose inclusion over indifference.

As the sun set over Surulere that day, it wasn’t just the students who walked away with something valuable. Everyone in attendance — from parents to public officials — left with a renewed understanding of what’s possible when opportunity meets potential.

Stay informed, stay ahead with The Ameh News 

The post Union Bank Sparks Hope with Maths Contest for Deaf Students appeared first on Ameh News.

In the buzzing business district of Lagos on a humid Friday afternoon, the boardroom at Unity Bank’s head office brimmed with a shared sense of purpose. Executives from Unity Bank Plc and AfriGo, Nigeria’s domestic card scheme, gathered not just to discuss numbers or market share—but to chart a path toward a more inclusive digital economy for everyday Nigerians.

At the heart of the high-level strategic meeting was one common goal: to deepen access to electronic payments and promote financial inclusion through the widespread adoption of the AfriGo card.

For Mr. Ebenezer Kolawole, the Managing Director/CEO of Unity Bank, the mission is clear. “We are committed to making the AfriGo Card a primary delivery channel for Unity Bank,” he declared. “As a national domestic card scheme, it deserves to be promoted both internally and externally as a local solution with significant potential to redefine Nigeria’s card payment landscape.”

Kolawole’s words resonate beyond corporate ambition. They speak to the countless small business owners in Nigeria’s informal markets, the rural schoolteacher without access to a bank branch, and the university student trying to pay for a form online.

AfriGo’s Managing Director, Mr. Ebehijie Momoh, echoed that human-centred approach. He commended Unity Bank’s commitment to the domestic card scheme, revealing that the bank currently ranks among the top five adopters of the AfriGo card in the country.

“AfriGo was designed with inclusion in mind,” Momoh said. “We’re building technologies that support instant payments and even offline capabilities, so that no one—no matter where they are—is left out of the financial system.”

The collaboration is more than just a corporate handshake. AfriGo’s Tap & Go solution is already reshaping how Nigerians interact with payments, particularly in transport and retail, where convenience is critical for people constantly on the move.

Beyond this new partnership, Unity Bank has quietly built a track record of digital innovation that centres the needs of the underserved. From launching USSD banking (*7799#) in multiple local languages to rolling out Unifi—a youth-focused digital banking platform—and GenFi, a gamified app for children and teenagers, the bank has made inclusion not just a policy, but a practice.

Each innovation tells a human story: of a market woman who can now transfer money without needing a smartphone, of a teenager learning financial responsibility through a playful interface, and of a family in a remote village now empowered to participate in the digital economy.

As the digital transformation wave continues to sweep across Nigeria, partnerships like this between Unity Bank and AfriGo are helping ensure that no one gets left behind.

In a country where the unbanked and underbanked still make up a significant portion of the population, this is not just good business—it’s a social imperative.

Stay informed, stay ahead with The Ameh News 

The post Unity Bank Partners AfriGo to Drive Inclusive Digital Payments appeared first on Ameh News.

At the recently concluded 2025 Women in Maritime and Shipping Conference held in Lagos, SIFAX Group emerged as the sole recipient of the prestigious Distinguished Gender Inclusion Award, in recognition of its exceptional efforts in advancing gender equality within Nigeria’s maritime industry.

The award, presented by the Nigerian Chamber of Shipping, was the only recognition conferred at the annual event and is reserved for an organisation that has demonstrated outstanding commitment to bridging the gender gap in the sector.

Speaking during the presentation, the Director-General of the Nigerian Chamber of Shipping, Mrs. Vivian Chimezie-Azubuike, praised SIFAX Group for leading the charge in driving inclusive policies that empower women across various levels of the industry.

“This award recognises the outstanding efforts of SIFAX Group in driving gender inclusivity in the maritime space. Their leadership, support, and practical initiatives continue to open doors for women across various levels of the industry,” she said.

Receiving the award on behalf of the company, Ololade Dawodu, Head of Clearing and Forwarding at Ports & Cargo Handling Services (a subsidiary of SIFAX Group), described the honour as a reflection of the company’s long-standing commitment to equity and inclusion.

“At SIFAX Group, gender inclusion is not just a concept—it is a core part of our organisational culture,” Dawodu said. “We sincerely appreciate the Nigerian Chamber of Shipping for this recognition. It inspires us to continue championing initiatives that give women equal opportunities to grow and thrive in the maritime sector.”

Beyond the award, SIFAX Group was specially featured during the conference in a segment that highlighted its gender inclusion policies and the real-life impact on women within its workforce. From female engineers managing cargo terminals to senior women executives shaping strategic direction, the company’s story stood out as a model of progress in an industry still grappling with gender disparity.

The event drew participation from both national and international maritime stakeholders, including representatives from the International Maritime Organization (IMO), Lloyd’s Register, the International Chamber of Shipping, and several African maritime bodies, who joined virtually to lend global weight to the occasion.

For many attendees, SIFAX Group’s recognition was more than ceremonial—it marked a moment of reckoning for the maritime industry. In a space long dominated by male leadership, the company’s deliberate inclusion of women across operations, management, and policy development signals a shifting tide.

Industry watchers say the award not only affirms SIFAX Group’s role as a trailblazer but also underscores the importance of inclusive practices as key to sustainable growth.

As Nigeria and the wider African maritime sector continue to evolve, the story of SIFAX Group offers a clear lesson: when organizations invest in gender equity, they not only transform lives—they elevate the entire industry.

Stay informed, stay ahead with The Ameh News 

The post SIFAX Group Honoured for Championing Gender Inclusion in Maritime Industry appeared first on Ameh News.

On a bright day at the Lekki Free Zone, the silhouette of the Dangote Petroleum Refinery stands tall against the Atlantic horizon—not just as an engineering marvel, but as a powerful symbol of Africa’s ambition to reclaim its economic destiny.

This was the sentiment echoed by the President of the Economic Community of West African States (ECOWAS) Commission, Dr. Omar Alieu Touray, who recently visited the sprawling 650,000 barrels-per-day refinery with his delegation. For Dr. Touray, the experience was deeply moving.

“What I have seen today gives me a lot of hope,” he said, his voice reflecting a rare mix of awe and optimism. “Anyone who doubts Africa’s potential should come here. This refinery embodies what our continent should focus on: vision, industrialization, and trust in ourselves.”

The visit was more than a tour; it was a moment of affirmation for the private sector’s critical role in shaping Africa’s future. The Dangote Refinery produces fuel to Euro V standards, meeting stringent environmental requirements that many imported fuels fail to satisfy. This means cleaner air, healthier communities, and a more sustainable future for the West African region.

Dr. Touray emphasized that the refinery’s success challenges long-held assumptions. “We often import petroleum products below our standards, but here is a regional company that not only meets but exceeds those standards,” he noted. “The private sector must lead ECOWAS’s industrialization journey.”

For Aliko Dangote, the man behind this colossal project, the refinery represents more than business success—it is a declaration of African self-reliance. Standing before the ECOWAS leaders, Dangote stressed the urgency of ending Africa’s dependence on imports.

“As long as we keep importing what we can produce, we will remain underdeveloped,” Dangote stated passionately. “This refinery is proof that Africa can build world-class infrastructure at scale.”

He addressed skeptics who questioned whether the refinery could meet Nigeria’s and the wider West African region’s fuel demands. “Now they are here to see the reality for themselves,” he said, “and to be encouraged to pursue large-scale industrial projects in their own countries.”

Beyond meeting energy needs, the refinery is already transforming lives. By locally refining petroleum products, it has slashed prices drastically—bringing the cost of petrol in Nigeria to nearly half that of neighboring countries. This drop is not just a statistic; it translates into real savings for families, reduced costs for farmers and miners, and a stronger, more competitive economy.

For millions of Nigerians, the Dangote Refinery is a source of hope—hope for jobs, hope for affordable energy, and hope for a prosperous Africa that builds and thrives on its own resources.

As the ECOWAS Commission celebrates its 50th anniversary, the message from this visit is clear: Africa’s future lies in bold industrial projects, partnerships between governments and private enterprise, and a shared commitment to lifting the continent to new heights.

Dr. Touray summed it up best: “We must listen to African industrialists, understand their challenges, and work together to create policies that unleash their potential. Only then can we truly eradicate poverty, create jobs, and build lasting prosperity.”

With the Dangote Refinery lighting the path forward, Africa’s journey toward economic sovereignty feels more tangible than ever—a beacon for all who dare to dream big.

Stay informed, stay ahead with The Ameh News 

The post Dangote Refinery: A Beacon of Hope and Industrial Pride for Africa’s Future appeared first on Ameh News.

It’s a moment of affirmation for an institution that has been methodically laying the groundwork for sustainable growth, even amid currency instability, inflationary pressures, and rising regulatory expectations.

For Dr. Nneka Onyeali-Ikpe, Managing Director and CEO of Fidelity Bank, the news wasn’t just about numbers—it was about people.

“This upgrade by Fitch Ratings affirms the resilience of our business model, the strength of our risk management practices, and our unwavering focus on delivering sustainable value to stakeholders,” she said. “Behind these metrics are hardworking teams and loyal customers who trust in our vision.”

A Strategy That Paid Off

The rating agency pointed to a few key factors: Fidelity’s successful capital raise through a rights issue and public offer, a significant jump in profitability, and one of the healthiest capital buffers in the banking sector.

At the end of 2024, Fidelity’s Fitch Core Capital ratio stood at 29.9%, far exceeding regulatory minimums. The bank has already laid out further capital-raising plans to meet the Central Bank of Nigeria’s ₦500 billion minimum capital threshold for internationally licensed banks by the 2025 deadline.

But the story goes beyond compliance—it’s about trust. Fidelity’s growing base of low-cost current and savings deposits now makes up 93% of its total deposits, one of the strongest ratios in the industry. That level of customer loyalty doesn’t come easy—it’s earned through digital innovation, SME support, and community-rooted banking.

More Than Just a Bank

With a customer base of over 9.1 million, 255 business offices across Nigeria, and a growing international presence through FidBank UK Limited, Fidelity Bank has been pushing quietly but confidently into the future.

Its accolades in recent months tell their own story: “Best Bank for SMEs in Nigeria” by Euromoney, “Excellence in Digital Transformation” by BusinessDay’s BAFI Awards, and “Most Innovative Mobile Banking Application” by Global Business Outlook. Each award underscores the bank’s efforts to meet customers where they are—digitally, physically, and financially.

A Signal to Investors—and the Industry

The Fitch upgrade is likely to encourage investors and further stabilize Fidelity’s reputation among domestic and international partners. But perhaps more importantly, it validates a long-term strategy anchored in resilience, sound governance, and customer-first thinking.

In an industry often dominated by noise and short-term metrics, Fidelity Bank’s measured rise is a reminder that consistent vision, backed by smart execution, still earns its due reward.

Stay informed, stay ahead with The Ameh News 

The post Resilience Rewarded: Fidelity Bank’s Strategic Moves Earn Fitch Ratings Upgrade appeared first on Ameh News.

 In a bid to combat rising stress and burnout in Nigeria’s banking sector, the Association of Corporate Affairs Managers of Banks (ACAMB) held a special Aerobics Fitness Session on Saturday, May 31, 2025, at the Lagoon Front of Eko Atlantic City.

The event, which attracted dozens of bankers and marketing communication professionals, featured a range of physical activities designed to promote physical and mental well-being. The session included a warm-up walk, energetic dance aerobics, fitness games, and a friendly fitness challenge — all set against the scenic backdrop of Lagos’ Atlantic shoreline.

Speaking at the event, ACAMB President Rasheed Bolarinwa emphasized the association’s commitment to employee wellness in the banking and corporate communication sector. “Bankers are vital to the financial ecosystem, and their wellness must be a priority,” he said. “This aerobics session is a powerful way to foster a culture of health, team bonding, and preventive care. A strong mind and body are essential for long-term professional excellence.”

The initiative is part of a broader wellness campaign by ACAMB, aimed at encouraging healthier lifestyle habits across Nigeria’s financial services industry. According to the association, the high-pressure nature of banking demands deliberate efforts to promote resilience, fitness, and mental clarity.

Participants described the event as refreshing and motivating. “It’s the first time in months I’ve done something like this outside the office,” said a corporate marketing executive with a commercial bank. “The energy, the movement, and the atmosphere helped me reset mentally.”

Beyond its physical benefits, the event served as an opportunity for professionals from different institutions to connect informally. “We often interact in competitive or formal settings,” noted a communications officer. “This allowed us to bond and reflect on our shared challenges in a relaxed, health-focused environment.”

ACAMB says it will continue rolling out similar wellness-focused events to support employee growth, stress management, and work-life balance in the banking industry. The association, which serves as the umbrella body for communications and public affairs managers across Nigerian banks, advocates for ethical engagement, reputation building, and staff development within the sector.

The fitness session, held in the fresh morning air and away from the daily demands of office life, marked a significant step toward integrating health consciousness into corporate culture — reminding professionals that personal wellbeing is integral to professional success.

Stay informed, stay ahead with The Ameh News 

The post ACAMB Hosts Aerobics Fitness Session to Champion Banker Wellness appeared first on Ameh News.

This deliberate strategy, rooted in emotion and human experience, has proven to be more than a creative decision—it has become a cornerstone of the publication’s editorial identity and stakeholder engagement efforts.

From inception, The Ameh News recognized that readers crave more than facts and figures. They seek narratives that resonate, stories that speak to shared challenges, aspirations, and lived realities. This insight became the foundation of its approach to content development, particularly in an increasingly fragmented media landscape.

“We understood early on that telling human-centered stories was the key to connecting with people,” said Emmanuel Ameh, Publisher and Founder of The Ameh News. “A policy is just a document until you show how it affects someone’s daily life. That’s when it becomes real.”

By framing news stories around real-life implications—such as how economic reforms affect small business owners, or how infrastructure projects transform rural communities—the platform has succeeded in capturing attention while also adding depth and relatability to its reporting.

This approach has also strengthened The Ameh News’ relationship with stakeholders across government, civil society, and the private sector. Organizations now look to the platform not just as a news outlet, but as a narrative partner capable of highlighting impact and influence through compelling storytelling.

Whether spotlighting innovation in underserved communities or unpacking policy through personal experiences, the publication has managed to redefine relevance beyond the limits of traditional reporting. Campaigns led by The Ameh News often carry emotional weight, drawing readers into stories that inspire action and reflection.

The result is measurable: increased engagement, expanded reach, and enhanced credibility in boardrooms and policy circles alike. Editorial campaigns have contributed to public discourse, encouraged corporate transparency, and brought grassroots voices into national conversations.

In doing so, The Ameh News affirms that a great brand is built not only on what it says, but on how it makes people feel. It is a reminder that at the heart of impactful journalism lies a simple truth—stories move people.

As newsrooms globally explore new ways to remain relevant, The Ameh News stands as a case study in the enduring power of storytelling to inform, influence, and connect.

Stay informed, stay ahead with The Ameh News 

The post Telling Stories, Building Trust: The Ameh News Way appeared first on Ameh News.