Category: Business Day

Access Bank has launch of its Womenpreneur Pitch-a-Ton 2025 programme, empowering female entrepreneurs across Africa with essential skills, knowledge, and resources to drive business growth and self-sufficiency.

Applications for the program commenced on Friday, September 19, 2025, and will close on Friday, October 3, 2025.

In a statement, Nene Kunle-Ogunlusi, Group head, Women Banking, said the Womenpreneur Pitch-a-ton has empowered hundreds of women with business training, mentorship, and access to funding since its launch in 2019. ‘This year, the program is back and better, offering women entrepreneurs the opportunity to scale their businesses, gain visibility, and connect with like-minded trailblazers across the continent. The 2025 edition promises a rich and rewarding experience for women in business. Selected participants will undergo an intensive Mini-MBA program designed in partnership with the International Finance Corporation (IFC), equipping them with the knowledge and tools required to grow sustainable businesses. In addition, participants stand a chance to access significant financial support, with over N17.5 million to be awarded in grants to the most outstanding businesses. The program also ensures that the impact goes beyond the winners, as other finalists will enjoy consolation benefits and other business support services to help strengthen their brands and operations’ she said.

Reiterating Nene’s comments, Oyeyipo Ifeoluwa, project manager, Womenprenuer Pitch-a-ton said ‘We have trained 878 women and awarded grants of up to $175,000.00 since the launch of Womenprenuer pitch-a-ton since 2019. The programme is not just about competition; it is a holistic journey designed to transform women-led businesses and contribute to Africa’s economic development.

The program is open to women entrepreneurs whose businesses are registered, have been existing for more than one year and own at least 50 percent shareholding in their business’ Oyeyipo concluded.

Oliver Alawuba, group managing director/Chief Executive Officer, UBA Plc has disclosed that the bank is out of any form of forbearance loans.

Forbearance is a temporary arrangement, typically with a lender, to lower or suspend loan payments for a set period due to financial hardship, allowing the borrower to resume payments once his financial situation improves.

The CBN in June directed banks to temporarily suspend the payment of dividends to shareholders, defer the payment of bonuses to directors and senior management staff. The apex bank also asked banks to refrain from making investments in foreign subsidiaries or embarking on new offshore ventures.

‘There is no forbearance loan in UBA books. CBN has already approved the payment of dividend which will be paid in next couple of days,’ the CEO said on Tuesday during the bank’s investor conference call. UBA said that some of the write-off for forbearance were taken off before H1’25 and finally erased in H1, which made it have less impact on its profitability. The CBN justifies the measures as necessary to strengthen capital buffers, enhance balance sheet resilience, and ensure prudent internal capital retention during this transitional period. The apex bank noted that suspension will remain in effect until banks fully exit regulatory forbearance and demonstrate compliance with capital adequacy and provisioning standards through independent verification.

Alawuba, who led the bank’s excos in responding to questions from participants at the conference further said, ‘It is important to note that UBA tries to ensure that we remain competitive on the total dividend yield for the year.’

The bank CEO noted that the CBN has also approved its dividend payment for the half year (H1). The Africa’s global bank recently released its financial performance for the half-year (H1) ended June 30, 2025, posting a N335 billion in profit after tax (PAT). The audited financials released to the Nigerian Exchange Limited (NGX) showed a remarkable growth across its major business segments, driven by strong earnings.

The bank recorded significant growth in its gross earnings and profit after tax, signalling robust balance sheet expansion.

Speaking on the capital raising and its deployment, he said, ‘the second round of the right issue was very attractive,’ adding that they bank is waiting for regulatory approval for the capital raise.

The bank had raised N234billion in its first capital raise. It just concluded the second capital raise -rights issue of N154billion, which it hopeful of raising as it awaits regulatory approvals.

He’s optimistic that the price of the shares of UBA will reroute north after the rights issue. The bank used the opportunity to disclose its revised growth guidance which include: deposit (20 percent), and loan (10 percent). Alawuba also noted that UBA committed to building Africa’s global bank.

At the end of the first two quarters of the year, and despite the tough global macroeconomic climate in Nigeria and major countries in Africa where the bank operates, UBA’s gross earnings grew by 17.28 percent, rising from N1.371 trillion in June 2024 to N1.608 trillion in the period under review.

Interest income also increased by 32.89 percent from N1.003 trillion in June last year to N1.334 trillion, while total assets went up by 9.71 percent to N33.3 trillion up from N30.3 trillion recorded in December 2024. Total Customer deposits also leapt by 11.9 percent in the same period to close at N27.6 trillion up from N24.6 trillion recorded at the end of 2024.

The results also showed that profit after tax which stood at N316.36 billion in June 2024, rose by 6.06 percent to close the half year at N335.53 billion, while profit before tax dropped slightly from N401 billion to N388 billion in the period under consideration. However, the banks’ shareholders’ funds remained strong as it increased by 23 percent from N3.41 trillion in December 2024, to N4.22 trillion in June 2025.

The Reddington Multi-Specialists Hospital, Lagos, brought vital healthcare services directly to the heart of the Oniru Community through a free medical outreach held at the Oniru Palace.

The initiative, a collaboration with His Royal Majesty, Oba Abdulwasiu Omogbolahan Lawal, the Oniru of Iruland, provided free consultations, health screenings, nutrition counseling, pharmacy services, and referrals to over 500 residents.

A 53-member medical team from Reddington Hospital, comprising doctors, nurses, nutritionists, pharmacists, laboratory scientists, dentists, physiotherapists, and ophthalmologists, anchored the event. The team’s comprehensive approach ensured that men, women, and children received quality care, addressing a wide range of health concerns, from high blood pressure to dental and eye care. Dr, Abiodun Osibamowo, the medical director of The Reddington Multi-Specialists Hospital, at the event,

harped on the importance of regular medical screening and counselling as key to sustainable health and general wellness.

‘You don’t wait until you start seeing symptoms of diseases before you come to the hospital. By that time, it may be too late and the doctors would be constrained in saving the patient’, Osibamowo told the crowd that had gathered at the Palace for the health screening.

He said the management of Reddington Hospital was partnering with the Oniru-in-council for the free medical services because of the excellent leadership Oba Abdulwasiu Lawal has provided for the residence of Iru Kingdom since he ascended the throne five years ago.

‘When the Kaabiyesi visited The Reddington Hospital earlier this year as part of the activities marking his fifth anniversary on the throne, he sought for our collaboration in providing quality and affordable health care for the people of his community. This medical outreach marks the beginning of such partnership,’ Osibamowo said. His Royal Majesty, Oba Abdulwasiu Omogbolahan Lawal, commended the management of The Reddington Hospital for sending a very strong team of multi-specialists to the free medical outreach, nothing that it afforded most of his subjects who would otherwise have been unable to afford such services to get quality health counselling and care at zero cost.

‘I am very passionate about the health and wellbeing of my people that is why the Oniru-in-council is partnering with a very reputable hospital like The Reddington Hospital to provide free medical services to them and ensure we have a healthy community able to work and earn a living’, Lawal said.

The questions and answers session anchored by the Osimabowo was very enlightening and educative as he answered questions on broad range of health issues, causes and prevention, such as high blood pressure, obesity, stroke, cancer, ulcer, etc. He talked about the importance of eating right, regular exercise and regular health screening and counselling.

No fewer than 500 residents comprising men, women and children benefitted from the free medical outreach. Some of the beneficiaries expressed their feelings.

‘I am happy about this programme and I pray to God to keep our Oba because visiting the hospital these days is very expensive. I also learnt a lot from the Medical Director during the questions and answers session especially the causes of high blood pressure and stroke and how to prevent it’, said Mrs Ige Salako. For Abdullatif Ogunbambi Abisogun, the free medical outreach should be more regular ‘because we need to be checking our health status from time to time. Prevention is better than medication’.

The Reddington Multi-specialists Hospital, Lagos has been at the fore of cutting-edge medical technology backed by very experienced consultants providing world class affordable services thereby reducing medical tourism and capital flight out of Nigeria.

President Bola Tinubu has condemned the murder of Somtochukwu Maduagwu, a news anchor with Arise News Television, directing security operatives to fish out her killers.

Bayo Onanuga, presidential Spokesman, said Maduagwu was killed during an attack by robbers at her residence in Katampe, Abuja.

President Tinubu extended his condolences to the family of Maduagwu, the management and staff of Arise News Television, and the entire Nigerian media fraternity over the loss. According to the President : ‘ Ms Maduagwu was a promising professional journalist whose life was cut short in a cruel and condemnable manner.

‘ Security and law enforcement agencies should conduct a quick and thorough investigation into the incident and ensure that the perpetrators are apprehended and brought to justice without delay,’ he said.

The President, while also commiserating with the bereaved family, assured Nigerians that his administration remains committed to ensuring the safety and security of all citizens, and will continue to strengthen measures aimed at combating crime in all its forms.

Dave Umahi, minister of works, says a refuse dump more than 50 years old and over 10 metres deep delayed work on the Lagos-Calabar coastal highway for four months.

Umahi spoke in Lagos on Monday during an inspection of the project.

‘We also encountered a refuse dump that had been over 50 years old and had over 10 metres depth and spanned two kilometres,’ Umahi said.

‘When we encountered it, we had to stop the work for more than four months.’

Landmark Beach spared after route redesign

The minister said the project initially faced hurdles at kilometre zero, where Landmark Beach and other properties stood in the highway’s path.

‘We decided as a responsible ministry to vary the design of the project,’ Umahi said, explaining that the road alignment was altered to avoid demolishing the beach infrastructure.

He stressed that, contrary to public perception, Landmark Beach was not demolished-only the surrounding shanties were cleared. The six-lane highway was instead split into three lanes on each side to protect the beach.

N15 billion spent on ‘unexpected challenges’

Umahi disclosed that the federal government spent about N15 billion to tackle the unforeseen obstacles.

‘I have directed that all the videos and drawings must be exposed because additional works are involved, and I want those documentaries to be intact,’ he added.

Dany Abboud, managing director of Hitech Construction Company Ltd., the contractor, said the eastbound and westbound lanes were split at kilometre 2.7 to avoid demolitions and later rejoined at kilometre 5.

He added that extensive waste deposits were found between kilometres 3 and 9, with the largest dumpsites at kilometres 4 and 9.

‘We had to excavate to a very big depth and replace it with sand,’ Abboud said.