Delta State Governor, Rt. Hon. Sheriff Oborevwori, on Monday held that the state was safe and secure for investments as he lauded Premium Trust Bank for establishing a solid foundation in just three years.

He said that the relative security of life and property in the state was the real reason that many interests and corporate groups, including Premium Trust Bank, preferred to invest in it.

Oborevwori spoke at the inauguration of a branch of the bank in Effurun. The branch is the 21 of the bank, and it’s second in the Effurun area.

According to him, the state offers immense lucrative opportunities for investments and had enough of the vital resource of quality manpower to meet the needs of industry and other commercial undertakings in the state.

He commended the bank for its appreciable progress in the last three years highlighted by innovation, high-quality banking services, and excellent customer relations.

He praised the Managing Director, Pastor Emmanuel Emefienem, for his vision, courage, and dedication to the service of both God and humanity.

“Mr. Emefienem possesses the potential, tenacity, and passion for excellence. He is a typical ‘Warri boy’ full of ideas, energy, drive, and confidence,” the Governor said.

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“The establishment of this branch is not only a welcome addition to the retail banking sector but also provides a significant boost to the local economy of the twin cities of Effurun and Warri, which serve as commercial hubs of Delta State.

“This is a wise investment, as the area offers tremendous business opportunities. Retailers, market women, business owners, and workers now have greater access to quality banking services in a secure and customer-friendly environment.”

The Governor expressed optimism about the bank’s potential to generate employment in the state.

“I am upbeat about the prospects this bank presents for job creation. Many of our qualified youths can now be employed whether as professionals or in other staff categories. Likewise, contractors and suppliers will benefit from the bank’s presence,” he noted.

He urged the bank to prioritize employing youths from the local community, noting that Delta State is rich with talented, competent, and promising young people.

He said: “By practicing both corporate and social responsibility, the bank can foster strong community relations and earn the trust of its host community”.

Governor Oborevwori also emphasized that the establishment of the bank signals growing investor confidence in Delta State, which he described as safe and conducive for business.

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“While some security challenges persist, no society enjoys 100% security. Nevertheless, we are doing a lot to address these issues. Many arrests have been made for crimes like kidnapping and armed robbery but the police no longer publicize every case, as it may hinder investigations,” he explained.

The Managing Director of Premium Trust Bank, Mr. Emmanuel Emefienem, described the opening of the new branch as more than just an expansion but a reflection of the bank’s unwavering commitment to building trust, fostering prosperity, and empowering communities.

He said: “Since its inception on April 19, 2022, the bank has consistently pursued its vision to become the most trusted and impactful bank in Nigeria, earning widespread recognition for resilience, innovation, and excellence.

“Within just three years, Premium Trust Bank has achieved remarkable milestones, including reaching a balance sheet size of one trillion naira by the end of 2024.

“The bank is currently ranked among the top 12 most profitable banks in Nigeria. It has also received multiple awards, such as the Fastest Growing Bank in Africa (2024) from the Financial Derivatives Awards in the Netherlands, and Nigeria’s

Fastest Growing Bank in 2022 and 2023. In addition, the bank has been honored as the Most Innovative Bank and the Best Workplace for Women in Nigeria.”

Mr. Emefienem emphasized the bank’s alignment with the Delta State Government’s development agenda, noting that the bank’s values of excellence, innovation, and community empowerment complement Governor Oborevwori’s mission to drive economic growth and improve quality of life.

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He proudly announced the bank’s continued role as a lead sponsor and official banker for the 2025 National Sports Festival, set to take place this month in Abeokuta, reinforcing its commitment to youth and sports development.

As Premium Trust Bank deepens its presence in Delta State with its fourth branch and a fifth branch set to open soon, Mr. Emefienem reaffirmed the bank’s support for the state’s Medium-Term Development Plan (2024–2027).

He pledged ongoing collaboration with the government to create an enabling environment for businesses, empower SMEs, promote financial inclusion, and deliver sustainable value.

“To the people of Effurun, Warri, and surrounding areas, he dedicated the new branch as a hub for opportunity and prosperity, promising a continued partnership in driving collective progress.”

Nigeria has paid off $3.4 billion borrowed from the International Monetary Fund during the Covid-19 pandemic, exiting the list of countries that are in debt to the Washington-based lender.

The repayment is a mark of the country’s improved financial position, with the central bank’s net foreign exchange reserves reaching a three-year high last month.

Nigeria has sought to improve local dollar liquidity after years of running a fixed exchange rate regime that burdened the economy of Africa’s largest oil producer with a wildly overvalued local currency.

Here are five facts to know about the $3.4 billion repayment loan

1. Nigeria’s $3.4 billion loan from the IMF was one of the largest disbursements under the RFI globally at the time and came with relatively favourable terms compared to traditional IMF programmes.

2. The IMF granted Nigeria emergency assistance in April 2020 as the pandemic shuttered businesses around the world and countries closed their borders.

3. The West African nation now has no outstanding IMF debt, though the Fund expects it to honor some additional payments of roughly $30 million a year in Special Drawing Rights charges, IMF resident representative for Nigeria Christian Ebeke said in a separate statement.

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4. Earlier reports showed that debt servicing to the IMF surged to $1.63 billion in 2024, made up entirely of principal repayments, with no interest or charges recorded for that year. In total, Nigeria’s external debt servicing for 2024 amounted to $4.66 billion, an increase from $3.5 billion in 2023.

5. This loan repayment happened under President Bola Ahmed Tinubu

6. The IMF’s confirmation of the loan repayment is seen as a positive development for Nigeria’s external debt profile.

Fidelity Bank Plc, one of Nigeria’s leading Tier-1 financial institutions, has announced a remarkable financial performance for the first quarter of 2025. The company recorded a Profit Before Tax (PBT) of N105.8 billion, representing an impressive growth of 167.8% compared to N39.5 billion in Q1 2024.

The bank’s unaudited financial statements, released on the Nigerian Exchange (NGX) on April 30, 2025, highlight a substantial increase in Gross Earnings, which rose to N315.4 billion, marking a year-on-year growth of 64.2% from N192.1 billion in the same period last year.

Growth in interest income was primarily led by 38.6% yoy (7.4% ytd) expansion in earning assets base, while the increase in non -interest revenue came from FX-related income, trade and commission on banking services, etc., supported by increased customer transactions.

Dr. Nneka Onyeali-Ikpe, OON, Managing Director/Chief Executive Officer of Fidelity Bank Plc, stated, “We started the year with triple-digit growth in profit and sustained the momentum in our earning assets growth. This performance shows the resilience of our business model and reinforces our confidence in delivering a better result in the 2025 financial year.”

Other areas of the unaudited financial statements, equally show a marked improvement with Total Deposits growing by 11.1% ytd to N6.6tn from N5.9tn in December 2024, driven by 10.6% ytd growth in low-cost deposits to N6.1tn, which represents 92.2% of total customer deposits.

Local currency deposits increased by 2.0% ytd, while foreign currency deposits increased by 21.4% from $1.9bn in December 2024 to $2.3bn. Net Loans and Advances increased by 5.0% ytd to N4.6tn. The growth in the bank’s Loan Book was skewed to LCY Loans as cost of risk declined to 0.6% from 1.5% in 2024FY.

“Beginning the year with such positive momentum reinforces our commitment to supporting the growth of individuals and businesses, while enhancing our financial sustainability. As we go into the rest of the year, we remain focused on building a resilient banking franchise with a diversified earnings base,” Onyeali-Ikpe added.

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Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The bank’s multiple local and international Awards include 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 Fidelity 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.

Not fewer than 88 customers of Wema Bank received cash prizes of over N14 million as part of the bank’s 80th-anniversary celebrations.

The anniversary reward scheme tagged ‘80-For-80’ campaign, which began on April 17, culminated in a grand gala held in Lagos. At the event, eight customers each received N1 million, while 80 other lucky winners took home N80,000 each.

The giveaway was a grand finale to the bank’s customer appreciation initiative, which aimed to celebrate the bank’s loyal customers.

Moruf Oseni, managing director/ CEO of Wema Bank, who presented dummy cheques to the winners, reiterated the lender’s commitment to continue impacting lives.

Oseni said, “Reaching 80 years is a celebration of longevity and a testament to the resilience of our brand and the trust of the people we serve. We chose to give back in this way because our customers are the heartbeat of our success. It gives us great joy to know that this celebration is also about the lives we can touch. At Wema Bank, every milestone is an opportunity to show appreciation and deepen our connection with the people who make our journey possible.”

Kazeem Lawan, one of the eight winners, said: “Being among the 80th-anniversary raffle draw winners was completely unexpected. Hearing my name announced as a winner was surreal. I’m grateful for the surprise and thrilled to have been part of celebration.

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The United States National Transportation Safety Board (NTSB) has concluded its investigation into the helicopter crash that tragically killed former Access Holdings Plc CEO, Herbert Wigwe, and his family last year.

The crash, which occurred on February 9, 2024, in California near the Nevada border, claimed the lives of Wigwe, his wife Doreen, their son Chizi, and the former group chairman of Nigerian Exchange Group Plc (NGX Group), Abimbola Ogunbanjo.

In the final report seen by TheCable, the NTSB stated that the probable cause of the crash was the pilot’s decision to continue the flight under visual flight rules (VFR) into instrument meteorological conditions (IMC).

The NTSB explained that the pilot likely experienced spatial disorientation while manoeuvring the helicopter in poor visibility conditions, leading to the loss of control and a fatal collision with terrain.

The investigation further revealed that the helicopter company’s inadequate oversight of its safety management processes contributed to the incident.

The NTSB found that the helicopter company failed to ensure that its pilots accurately completed and updated flight risk analyses, logged maintenance discrepancies, and adhered to Part 135 regulations before departure. These failures were critical in the chain of events that led to the crash.

The report also indicated that during the return flight, the pilot had communicated with the director of maintenance (DOM) via text message about an issue with the radar altimeter, further highlighting lapses in safety protocols.

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The report reads, “The National Transportation Safety Board (NTSB) determines the probable cause of this accident to be: The pilot’s decision to continue the visual flight rules flight into instrument meteorological conditions, which resulted in the pilot’s spatial disorientation and loss of control.

“Contributing to the accident was the company’s inadequate oversight of its safety management processes, including ensuring the pilots were accurately completing and updating the flight risk analysis, logging maintenance discrepancies, and ensuring the helicopter met Part 135 regulations before departure.

“During the return flight, the pilot texted the director of maintenance (DOM) about the issue. After arriving at the company’s flight operations base, the pilot discussed the issue with the company flight follower (who was also the company’s president).

“A company mechanic performed some troubleshooting on the radar altimeter; however, he was unable to rectify the issue, and the radar altimeter remained non-functional.

“The mechanic reported that the pilot and the DOM were aware that the radar altimeter was not functioning, yet they departed at 1822 on the positioning flight to pick up the passengers.

“About 40 minutes later, the positioning flight landed at the airport to pick up the charter passengers. After arrival, the pilot and flight follower had a phone conversation and exchanged text messages, but they did not discuss the status of the radar altimeter or weather conditions.”

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After sparking a national movement with its Zero Transfer Fees campaign, Sterling Bank has once again pushed the boundaries of what corporate citizenship can mean to everyday Nigerians.

Last week, regular Lagosians stepping out after long workdays were met with an unexpected gift: Sterling OneBank-branded buses waiting to take them home, free of charge.

Starting as a push against bank transfer fees, the initiative has now taken to the streets, as the bank began offering free bus rides to customers across major Lagos corridors, a gesture that will continue through May 2025 to ease the return of workers after the May Day holidays.

For a city where a single bus fare can be the difference between feeding a family or not, Sterling’s free ride initiative struck a deep chord. What began with free transfers through its OneBank platform has now evolved into a movement on wheels, connecting digital convenience with real-world survival. In a time of skyrocketing costs, the bank is reaffirming a simple belief: financial freedom should not end at the removal of bank charges; it should move you, carry you, and lift you.

Across Lagos, from Obalende to Ikorodu and TBS to Oshodi, the sight of Sterling buses pulling up to offer free rides sparked moments of disbelief, gratitude, and quiet celebration. For thousands of commuters, it was a tangible reminder that sometimes, the biggest changes come not from slogans, but from small, deliberate acts of care.

“For customers who have to choose between transport fare and groceries, this is more than a ride, it’s hope,” said Chidimma Okoli, Masterbrand Marketing Lead at Sterling. “When we said we were tearing down the barriers to moving your money, we meant it. But we also meant the barriers to moving yourself, to moving your dreams, to moving your life forward.

This isn’t just about banking apps. It’s about freedom, in every sense of the word.” Mary E., a market trader from Oshodi, stepped off a Sterling bus last Friday and captured the mood perfectly. “This is the first time a bank is not just advertising but acting,” she said, beaming. “I have saved on transfers all month because of OneBank. And today, I saved on my transport. Sterling ehn, dem sharp. Dem dey move.”

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Across town, a young professional shared his own experience on LinkedIn: “Every naira matters o. I already saved money on bank transfers using OneBank. Today, Sterling saved me time, money, and stress after a brutal day at work. They just get it.

Another rider, Amaka I., a single mother and hairdresser from Ajah, described the free ride as “a blessing nobody told me was coming.” She added, “We Lagos people work so hard just to move. Today, I didn’t have to count Naira for my bus fare. That is dignity. That is respect.”

Chidimma Okoli emphasised that this initiative was never about fanfare, but about putting philosophy into action. “Financial systems have for too long extracted from Nigerians,” she said. “At Sterling, we are making a different choice. We are giving back, not just in naira and kobo, but in opportunities, in relief and in real dignity.” This initiative builds on Sterling’s history of standing with Nigerians during critical moments.

During the pandemic, Sterling was one of the first banks to support remote work transitions and provide digital lifelines to struggling SMEs. Through programs like AltSchool Africa and entrepreneur bootcamps, Sterling has opened new doors to skills development and affordable financing. After fuel subsidies were removed, the bank financed transport cooperatives to keep mobility alive for thousands who would otherwise have been stranded.

But according to Okoli, what matters now is not history, it’s momentum. “We’re not trying to relive past glories,” she said. “We’re building new victories, alongside the people who trust us every day with their journeys.”

Beneath the buses and smiling faces lies a deeper story of infrastructure strength. Sterling’s robust digital banking backbone, capable of handling over 180 million transactions and scaling rapidly, allows it to absorb costs that many banks would have pushed onto customers. It is this invisible engine that has further helped make visible change possible.

As the month of May approaches, the momentum will continue. Workers returning from the holidays can expect to find the free rides still running across locations, a daily reminder that real banking doesn’t just live in apps but also on the streets, in the choices that make hard lives a little easier.

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Sterling is encouraging all riders to share their experiences online, turning thousands of quiet journeys into a loud statement that Nigeria deserves a financial system that carries its people forward, not holds them back. Because true banking is not about hoarding profit; it is about moving lives and moving freely.