First Bank of Nigeria has strongly denied allegations of fraud leveled against it by Dr. Agbai Eke, a businessman from Abia State, describing the claims as “entirely unfounded and false.” Dr. Eke recently filed a lawsuit in the Abia State High Court, alleging that over N550 million was fraudulently withdrawn from his fixed deposit account. According to his legal counsel, Ebuka Nwaeze, the funds were initially deposited to support the continued operation of First Bank’s branch in Abiriba and contribute to local community development. The alleged fraud came to light in December 2023 when Dr. Eke reportedly lost access to his account via the bank’s mobile app and could not reach the Business Development Manager assigned to his account. Upon visiting First Bank’s Gwarinpa branch in Abuja, he claimed to have discovered six unauthorized withdrawals totaling N55 million, five withdrawals of N10 million each and one withdrawal of N5 million, despite being in Umuahia at the time of the transactions. Dr. Eke stated that he requested the liquidation of his fixed deposit following this discovery but alleged that the bank failed to act on his request for several months. In a statement issued by Olayinka Ijabiyi, Acting Group Head of Marketing & Corporate Communications, First Bank categorically denied any involvement in fraudulent activities. The bank attributed the issue to unethical dealings between Dr. Eke and a former employee who allegedly used a personal relationship to facilitate unauthorized transactions without the bank’s knowledge. “We can affirm that the allegations of fraud in the bank as alluded to by ‘Dr. Agbai Eke’ are entirely unfounded and false,” the statement read. “Our findings on the matter indicate unprofessional and unethical dealings between Dr. Agbai Eke and a former FirstBank employee.” The bank further disclosed that it has referred the case to law enforcement agencies for investigation. “The suspects have made useful statements while investigations are ongoing,” the statement added. First Bank emphasized that it would refrain from further public comments on the matter since it is now before the court. Hearings in the case are expected to take place later this month and into April. In a separate development, First Bank recently received approval from Lagos State Governor Babajide Sanwo-Olu to begin construction of its eco-friendly headquarters in Eko Atlantic City. The 40-story skyscraper, set to become Nigeria’s tallest building, will integrate advanced engineering and sustainable features as part of the bank’s long-term commitment to innovation and growth.
Sterling Bank launches EV charging station in Yaba, offers free charging for three months
Sterling Bank Plc, one of Nigeria’s leading financial institutions, has taken a bold step toward promoting sustainable transportation with the launch of an electric vehicle (EV) charging station in Yaba, Lagos. This marks a significant milestone in the bank’s commitment to fostering environmentally friendly initiatives and supporting Nigeria’s transition to cleaner energy solutions. The charging station, strategically located in Yaba, a bustling hub for technology, education, and innovation, is designed to cater to the growing number of EV users in Lagos, Nigeria’s commercial capital. Equipped with fast-charging capabilities and solar panels to power part of its operations, the facility aligns with global efforts to reduce carbon emissions and combat climate change. Speaking at the launch event, Sterling Bank’s Managing Director and CEO, Abubakar Suleiman, highlighted the bank’s dedication to driving sustainable development in Nigeria. “As a forward-thinking institution, Sterling Bank recognizes the transformative potential of electric vehicles in addressing environmental challenges and reducing our reliance on fossil fuels,” Suleiman said. “This charging station is not just infrastructure; it is a statement of intent—a commitment to a greener, more sustainable future for Nigeria.” The Yaba charging station features multiple charging ports capable of servicing various EV models. Industry experts estimate that the facility can charge up to 20 vehicles daily, with plans to expand capacity as demand grows. To encourage adoption among Lagos residents, Sterling Bank announced that charging services will be free for the first three months. This latest initiative builds on Sterling Bank’s previous efforts to champion EV adoption in Nigeria. In 2022, the bank collaborated with local automotive firms to introduce affordable financing packages for electric motorcycles and tricycles. These packages targeted commercial riders, enabling them to transition from petrol-powered vehicles to electric alternatives through low-interest loans and flexible repayment plans. In 2023, Sterling Bank partnered with the Lagos State Government to launch an EV awareness campaign called “Drive Green Lagos.” The campaign included workshops, exhibitions, and test-drive events aimed at dispelling myths about EVs, such as high costs and limited range,while showcasing their long-term economic and environmental benefits. During this pilot phase, Sterling Bank sponsored the installation of two charging points in Ikeja and Victoria Island. The launch of the Yaba charging station comes at a pivotal moment for Nigeria’s EV sector. While global leaders like China and Europe have made significant strides in EV adoption, Nigeria is still catching up due to challenges such as inadequate infrastructure, high electricity costs, and limited consumer awareness. Sterling Bank’s move addresses one of these critical barriers: the lack of charging stations. With Lagos accounting for over 60% of Nigeria’s vehicle population, urban centers like Yaba are ideal locations for such facilities. The bank has hinted at plans to replicate the Yaba model in other cities like Abuja and Port Harcourt as part of a broader rollout of EV infrastructure. The new charging station shows Sterling Bank’s proactive role in advancing Nigeria’s green mobility ecosystem. By investing in infrastructure and advocating for cleaner transportation options, the bank continues to position itself as a key player in addressing the country’s energy and environmental challenges.
Moniepoint Celebrates International Women’s Day by Expanding Women in Tech Internships from 10 to 15
Moniepoint Inc., a leading digital financial services provider, has announced the expansion of its flagship Women in Tech internship program. The 2025 cohort will now offer 15 internship roles, up from 10 in previous years, as the company intensifies efforts to bridge the gender gap in technology. Applications for the six-month program are now open to women across Africa, with successful candidates set to gain hands-on experience, mentorship, and pathways to full-time employment. The decision to expand the program aligns with the 2025 International Women’s Day theme, “Accelerate Action,” which calls for urgent steps to dismantle systemic barriers limiting women’s participation in critical sectors. Despite women constituting nearly half of Nigeria’s population, they represent only 25% of the tech workforce, according to the Nigerian Bureau of Statistics (NBS). This disparity persists even though women account for 22% of annual STEM graduates nationwide. Moniepoint’s initiative directly targets this imbalance by equipping young women with technical skills, mentorship, and real-world project opportunities in fields like Cloud Engineering, Data Engineering, and User Experience (UX) design. Program Structure and BenefitsSelected interns, dubbed the “Dream 15,” will join diverse teams at Moniepoint for six months, receiving: A competitive salary and branded merchandise Direct mentorship from industry experts Access to cutting-edge work tools Priority consideration for full-time roles post-internship Chinaza Nduka-Dike, Moniepoint’s Vice President of People Operations, emphasized the program’s broader impact: “This isn’t just about inspiring inclusion—it’s about creating sustainable pathways for women to lead and innovate in tech. Alumni from past cohorts are already driving transformative projects here and across the ecosystem, proving that diversity fuels progress.” Daniela Uzosike, a Systems Administrator and member of the program’s third cohort, highlighted its career-changing impact: “Working at Moniepoint allowed me to contribute meaningfully from day one. The mentorship I received clarified my career trajectory, and I’m thrilled more women will now access these opportunities.” Since its launch four years ago, the initiative has enabled dozens of women to transition into technical roles, with many ascending to leadership positions. Moniepoint credits this success to its focus on practical learning-interns collaborate on live projects shaping Africa’s digital finance landscape. How to ApplyInterested candidates can review available roles and submit applications via Moniepoint’s careers portal. The company encourages early applications, though no deadline has been publicly disclosed yet. Africa’s tech sector is projected to grow exponentially, yet women remain critically underrepresented in technical and leadership roles. Programs like Moniepoint’s not only address talent shortages but also ensure diverse perspectives drive innovation in fintech solutions tailored to the continent’s unique needs.
LOTUS Bank partners with Inter Lagos FC to boost grassroots football and community development
LOTUS Bank, a leading non-interest financial institution, has announced a strategic partnership with Inter Lagos FC, a Nigerian National League (NNL) club. This collaboration aims to provide critical financial support to the club, empowering it to achieve its domestic and international ambitions while fostering grassroots football development. The partnership reflects LOTUS Bank’s commitment to leveraging sports as a tool for youth engagement, economic growth, and social cohesion. Speaking on the collaboration, Kafilat Araoye, Managing Director and CEO of LOTUS Bank, stated, “Football is a powerful medium for community impact. Our partnership with Inter Lagos aligns with our vision of supporting initiatives that drive sustainable development and inspire local communities.” Inter Lagos FC, known for its dynamic playing style and strong community ties, has been steadily rising in Nigerian football since joining the NNL in 2023. The club’s co-founder and CEO, Lanre Vigo, expressed excitement about the partnership: “This collaboration is a testament to our growth and ambition. Partnering with LOTUS Bank strengthens our pursuit of excellence and reflects shared values of innovation and progress.” The announcement comes on the heels of Inter Lagos FC’s recent victory in the Lagos State FA Cup. The team triumphed over Ikorodu City FC in a dramatic penalty shootout after a goalless draw, with goalkeeper Favour Bala emerging as the hero.