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Wema Bank Donates Brand-New Car To Winner Of Outstanding MSME Clinic Of The Year At National MSME Awards 2024

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Wema Bank, Nigeria’s foremost innovative bank and pioneer of Africa’s first fully digital bank, ALAT, donated a brand-new car to Desoor Bags, the winner of the Outstanding MSME Clinic award—female category, at the National MSME Awards Night 2024. This Award Ceremony was held at the Presidential Villa in Abuja on Thursday 27th June 2024, to commemorate World MSME Day.

The International MSMEs Day and MSME Awards Night 2024 is a twofold event organised by the Federal Government of Nigeria through the Office of the Vice President, to celebrate the successes in the Nigerian MSME Sector and develop sustainable solutions for the continuous growth and development of the sector, to ultimately boost the Nigerian economy. The first part of the event convened top reputable institutions and entities including Wema Bank, to brainstorm and proffer sustainable financial solutions to not only provide affordable loans and funding for MSMEs, but to also ensure that these financial solutions are easily accessible and available to MSMEs. The concluding part of the Event was the National MSME Awards 2024; the sixth edition of the annual celebration.

The Award Ceremony celebrated top performing MSMEs across various categories from different parts of the country, awarding them with gifts and cash prizes in show of support and in advancement of their businesses. Wema Bank, reputed for its positive impact across various areas including MSMEs and Women, not only contributed immensely to the solutions garnered in the daytime event but also sealed its commemoration of World MSME Day 2024 at the National MSME Awards 2024 by gifting a car to Desoor Bags, the winner of the Outstanding MSME Clinic award (female category). This remarkable gesture simultaneously reinforced the Bank’s role as an enabler for MSMEs and its reputation for championing women empowerment and promoting gender inclusion in Nigeria.

Presenting the award and car gift in representation of Moruf Oseni, the MD/CEO of Wema Bank, Tunde Mabawonku, the Bank’s Executive Director of Retail and Digital Business, highlighted the impact of the World MSME Day 2024 events, emphasising the need to provide tailored support for MSMEs and advocating for a seamless synergy of capacity development, financial and material empowerment, collaboration, as well as leveraging technology and digital, to build a supportive ecosystem for MSMEs to thrive. “First, I would like to congratulate Adesola, the Outstanding MSME Clinic Award winner in the female category of the 6th National MSME Awards. It should come as no surprise that we choose to reward a woman today, as Wema Bank has always demonstrated a strong commitment to empowering women and provided tailored solutions for them to thrive in their personal and professional endeavours. We continue to do it through our women-focused proposition, SARA, and today, we have chosen to support this outstanding woman-owned business with a car to reduce stress and increase efficiency for her as she continues to grow her business”.

“As we commemorate World MSME Day today, it is important that we set our sights forward on the future of MSMEs in Nigeria. This is why the conversations we’ve had today are very important and Wema Bank is more than glad to be part of it. As the Bank that is committed to empowering lives through innovation, we are dedicated to not only providing innovative solutions and resources for customers to thrive but also empowering them to make the most of these solutions we provide. Technology and digital are the future, and intelligence is here to stay so beyond providing financial resources for MSMEs, we are also focusing on empowering them with digital skills to ensure they are not left behind in this digital evolution. The goal is digital empowerment for scale. To maximise our impact, we will continue to innovate and collaborate to drive capacity development, financial and material empowerment, as well as technology and digital empowerment for MSMEs, to build an enabling environment for these MSMEs to thrive”.

Expressing irrepressible gratitude to Wema Bank for the remarkable show of support, Adesola Adedoyin, CEO Desoor Bags and Winner of Outstanding MSME Clinic Award (Female category) at the National MSME Awards 2024, added, “I cannot find the words to express how I feel right now. My business has been recognised on such a huge platform and on top of that, I am going home with N2,000,000 and a brand-new car, it feels so unreal. Thank you, Wema Bank, for supporting me and my business with this car. I can now transport myself and the resources Desoor Bags needs without struggling to ‘jump bus’ multiple times when I can fit it all in the car at once. I am beyond grateful. Thank you to the Federal Government for the opportunity and thank you, Wema Bank for all you do”.

In its authority as Nigeria’s most innovative bank, Wema Bank continues to prove its mettle not just as an enabler for MSMEs but also as the partner of choice for all. With the Bank’s diverse range of tailored solutions and its success in already providing single-digit loans for female MSMEs, among others, Wema Bank continues to push boundaries for the best and redefine standards in the banking and financial services industry.

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New Secondary School Curriculum To Include Journalism, Programming Modules [SEE FULL LIST]

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Nigeria’s new secondary school curriculum will introduce modules on journalism, programming, artificial intelligence (AI), robotics, and fact-checking, according to details released on Wednesday.

Dada Olusegun, senior special adviser to the president on social media, shared excerpts of the yet-to-be-unveiled curriculum document via his verified social media handle.

The new curriculum, which applies to both junior and senior secondary schools, is part of government efforts to modernise education and align learning with global digital and professional trends.

Breakdown of the curriculum

According to the document, journalism will now be taught under English Language at the senior secondary level, while programming is spread across both junior and senior cadres.

Digital literacy has also been expanded to include artificial intelligence and robotics in senior classes.

For junior secondary school (JSS 1–3), subjects include:

  1. Mathematics & Measurement (covering algebra, geometry, statistics, and more)
  2. English Language (essay writing, grammar, comprehension, oral skills)
  3. Integrated Science (physics, chemistry, biology, earth science, lab safety)
  4. Digital Literacy & Coding (Word, Excel, PowerPoint, Python basics, Scratch, robotics kits)
  5. Social Studies (history, geography, civics, economy, entrepreneurship basics, global issues)
  6. Languages (mother tongue, French/Arabic)
  7. Creative Arts (drama, crafts, music, film basics)
  8. Physical & Health Education (fitness, nutrition, reproductive health, drug abuse awareness).

For senior secondary school (SS 1–3), highlights include:

  1. English & Communication (academic writing, journalism, fact-checking, public speaking)
  2. Technology & Innovation (Python, JavaScript, HTML/CSS, data science, AI & robotics, cybersecurity)
  3. Research & Project Work (final-year project, data collection, presentation & defence)
  4. Social Sciences (economics, government, history, philosophy, entrepreneurship).

Focus on digital and practical skills

The curriculum also introduces modules on digital entrepreneurship, cybersecurity, media production, and mental health awareness.

Officials say the new subjects are designed to equip students with both academic and practical skills needed to navigate the evolving global economy.

The Federal Ministry of Education is expected to formally launch the curriculum in the coming weeks.

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Fidelity, Sterling, Other Tier-2 Banks Under Pressure As CBN’s 2026 Recapitalisation Deadline Looms — SBM Report

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Nigeria’s mid-tier lenders are under mounting pressure to scale up operations or face mergers as the Central Bank of Nigeria (CBN) enforces its 2026 recapitalisation programme, a new report has revealed.

The report, released by SBM Intelligence and titled “Capital, Competition, and Consolidation: How Nigeria’s Tier-2 banks are responding to the CBN’s 2026 recapitalisation order,” examined the financial health and capital-raising efforts of First City Monument Bank (FCMB), Fidelity Bank, Stanbic IBTC, Sterling Bank, and Wema Bank.

In March 2024, the CBN directed banks to increase their minimum capital base by 2026. Under the new rule, international banks must raise ₦500 billion, national banks ₦200 billion, and regional banks ₦50 billion. The apex bank said the measure will boost financial stability and prepare lenders to support the government’s ambition of building a $1 trillion economy.

Share price rally

The SBM report highlighted how some tier-2 banks have outperformed expectations in recent years. Fidelity Bank’s share price rose from ₦1.65 in 2020 to over ₦21.20 by mid-2025, representing more than 1,100 percent growth. Wema Bank also recorded a surge from ₦1.50 to nearly ₦15.00 over the same period.

FCMB and Sterling Bank posted steady gains, while Stanbic IBTC maintained resilience despite macroeconomic volatility.

Capital-raising strategies

To meet the recapitalisation target, FCMB has embarked on a three-phase plan to raise ₦400 billion through public offers, divestments in subsidiaries, and offshore placements. Fidelity Bank has already secured over ₦270 billion from an oversubscribed rights issue and public offer, with plans to complete the process ahead of schedule.

Sterling Financial Holdings is pursuing a mix of rights issues, private placements, and a $400 million public offering, while Wema Bank has combined a ₦150 billion rights issue with a ₦50 billion private placement after an earlier ₦40 billion issue in 2023.

Mergers expected

SBM predicted that consolidation in the banking sector will intensify as the 2026 deadline approaches, with mergers and alliances likely among mid-tier lenders.

“The financial performance of these banks in 2025 underscores their capacity to compete and thrive, even as Tier-1 institutions consolidate their dominance,” the report noted.

It added that the ability of tier-2 banks to adapt to regulatory demands, strengthen technology adoption, and implement bold capital strategies will determine their future in Nigeria’s evolving financial sector.

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UBA, Mastercard Launch Prepaid Card To Promote Financial Inclusion

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, in collaboration with Mastercard, Tuesday announced the launch of the Mastercard prepaid card to further accelerate financial inclusion and expand access to digital payment solutions across Africa.

The card, which does not require a traditional bank account, is designed to serve individuals who have historically lacked access to formal financial services, particularly young adults, gig workers, and low-income earners. It enables users to top up funds easily, transact both locally and internationally, and manage spending with flexibility and security.

With more than 28.9 million adults in Nigeria remaining unbanked, and digital-first tools increasingly demanded by youth and freelancers, the prepaid card directly addresses pressing gaps in the financial ecosystem.

Mastercard’s Country Manager, West Africa, Dr Folasade Femi-Lawal and Group Head, Retail & Digital Banking, United Bank for Africa (UBA), Shamsideen Fashola, during the the launch of the Mastercard Prepaid Card to further accelerate financial inclusion and expand access to digital payment solutions across Africa, held at the Bank’s headquarters in Lagos on Monday.

Group Head, Retail & Digital Banking, United Bank for Africa (UBA), Shamsideen Fashola, who noted this is a demonstration of the bank’s customer-first approach, stated that the bank is committed to ensuring that every Nigerian is banked and gets the best service.

“This collaboration with Mastercard is yet another demonstration of our customer-first approach. We are committed to providing practical solutions that meet the everyday needs of Nigerians, and this card will make payments simpler, safer, and accessible to all”

Mastercard’s Country Manager, West Africa, Dr Folasade Femi-Lawal, said: “At Mastercard, we are relentlessly committed to advancing financial inclusion through innovative and secure digital payment solutions that serve both banked and unbanked Nigerians. Collaborating with UBA enables us to unlock endless possibilities by connecting individuals across all income levels, demographics, and social strata. Together, we are empowering Nigerians with the tools they need to confidently participate in the global economy and shape a more inclusive digital future.”

The prepaid card offers distinct benefits for different user groups. Cardholders can use it as a convenient budgeting tool; freelancers and gig workers gain a flexible expense solution; and the unbanked are empowered through a secure, reloadable allowance card. The product is globally accepted and supported by Mastercard’s trusted infrastructure, providing users with peace of mind and seamless digital payment experiences.

This collaboration aims to pave the way for a more inclusive and sustainable financial future in Africa, by striving to break down long-standing barriers, enable underserved communities, and advance economic growth.

United Bank for Africa (UBA) Plc is a leading pan-African financial institution, offering banking services to more than 45 million customers across 20 African countries, as well as in the United Kingdom, the United States, France, and the United Arab Emirates. With a strong focus on innovation, financial inclusion, and customer service, UBA provides retail, commercial, and institutional banking solutions, empowering individuals, businesses, and governments through cutting-edge digital platforms and inclusive financial products.

Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

www.mastercard.com

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