Fidelity Bank Plc has empowered 100 women in Ogun State with vocational tools, as part of its nationwide “Give Her Power” initiative aimed at boosting economic independence.

The programme, held in Abeokuta, saw the distribution of 50 sewing machines and 50 grinding machines to women engaged in microbusinesses.

It forms part of a broader rollout launched in March to mark the 2026 International Women’s Day, in partnership with several organisations.

The event took place at the MKO Abiola Sports Arena and drew market leaders, community stakeholders, and government officials.

Why it matters

Women-led small businesses play a critical role in Nigeria’s informal economy, but many face barriers such as limited access to funding, tools, and training.

Programmes like this aim to bridge that gap by providing not just financial services, but also practical resources that can immediately improve productivity and income.

‘Empowerment must be practical’ – Bank

Speaking at the event, Fidelity Bank’s Regional Head for Southwest 1, Folaranmi Jemirin, said the initiative focuses on tangible impact.

“At Fidelity Bank, our approach to empowerment is simple; it must be practical, inclusive, and sustainable. When you empower a woman economically, the benefits extend to her family, her business, and the wider community.”

He added that the Ogun outreach builds on momentum from the initiative’s launch earlier in March.

Jemirin explained that the programme operates under the bank’s women-focused platform, HerFidelity, which offers financial literacy, mentorship, business support, and vocational training.

“This is more than a donation, it’s our vote of confidence in your ability to earn, grow, and create value within your communities.”

Government backs initiative

Ogun State Commissioner for Women Affairs and Social Development, Adijat Adeleye-Oladapo, described the programme as a shift from symbolic gestures to real economic support.

“This initiative goes beyond celebrating International Women’s Day. It delivers real opportunities for transformation. When you empower a woman, you empower a family and, ultimately, society.”

She said the effort complements the state government’s agenda to strengthen women’s economic participation under Governor Dapo Abiodun.

Wider rollout across Nigeria

Fidelity Bank says it has expanded the initiative nationwide, including:

Distribution of 1,000 vocational tools

Launch of the HerFidelity Apprenticeship Programme 2.0

Financial literacy sessions for girls

Mentorship and skills training programmes

The bank says the goal is to create long-term pathways for women to build sustainable businesses.

Industry and public perspective

Experts say such targeted interventions can have a multiplier effect on local economies.

Small-scale entrepreneurs especially women often reinvest earnings into their families and communities, improving education, healthcare, and overall welfare.

However, analysts note that sustained impact will depend on continued access to markets, financing, and follow-up support.

What’s next

Beneficiaries have been urged to make productive use of the equipment to ensure long-term benefits.

Observers say similar initiatives could be scaled further if backed by consistent monitoring and partnerships with local governments and development organisations.

About Fidelity Bank

Fidelity Bank Plc serves over 10 million customers through digital channels, 255 business offices in Nigeria, and its UK subsidiary.

The bank has received several awards, including recognition for digital transformation, SME banking, and mobile banking innovation.

The Nigeria Customs Service says it is strengthening partnerships with manufacturers after officials visited International Breweries Plc in Ilesa, Osun State to reinforce excise compliance and revenue generation.

The Acting Customs Area Controller for the Oyo/Osun Command, Wale Moses Adewole, led the visit on Tuesday, describing compliance with excise laws as essential to Nigeria’s economic stability.

He said the agency would continue to support legitimate business operations while enforcing fiscal regulations.

“Adherence to excise laws is critical to revenue generation and national economic stability,” Adewole said.

Why it matters

Excise duties from industries such as breweries form a key part of Nigeria’s non-oil revenue.

With economic pressures and fluctuating oil income, authorities are increasingly focusing on improving compliance across manufacturing sectors.

Customs officials say closer engagement with companies can help reduce revenue leakages and improve transparency.

Customs commends brewery’s economic role

During the visit, Adewole praised International Breweries for its contributions to employment and government revenue.

He urged the company to sustain compliance and maintain transparent operations.

Industry analysts say large manufacturers like breweries play a significant role in job creation and supply chain development, particularly in states like Osun.

Company pledges continued cooperation

Responding, the plant manager, Emmanuel Onabanjo, welcomed the visit and described it as “timely and impactful.”

“We remain committed to maintaining a cordial relationship with the Nigeria Customs Service and complying with all regulatory requirements,” he said.

Industry and public perspective

Experts say improved collaboration between regulators and manufacturers could help stabilise Nigeria’s business environment.

However, some industry stakeholders warn that over-regulation or inconsistent policies could increase production costs, which may be passed on to consumers.

Balancing enforcement with ease of doing business remains a key challenge.

What’s next

The Customs Service says it will continue stakeholder engagement across sectors to improve compliance and support trade.

Officials also signalled that more factory visits and audits may follow as part of broader enforcement efforts.

Fidelity Bank has exceeded the N500 billion minimum capital requirement set by the Central Bank of Nigeria (CBN), positioning itself for expansion as Nigeria’s banking recapitalisation programme concludes.

The lender achieved this milestone following a N259 billion private placement completed on December 31, 2025, bringing its total eligible capital to N564.5 billion, subject to final regulatory approvals.

The recapitalisation exercise, which ended on March 31, 2026, required commercial banks with international licences to meet stricter capital thresholds aimed at strengthening the financial system.

How Fidelity Reached the Target

In a statement filed with the Nigerian Exchange Limited (NGX), the bank’s Company Secretary, Ezinwa Unuigboje, said the private placement was conducted with approvals from the CBN and the Securities and Exchange Commission (SEC).

She said:

“The proceeds from the exercise lifted Fidelity Bank’s eligible capital from N305.5 billion to N564.5 billion, subject to final regulatory approvals.”

The one-day private placement attracted major institutional investors, including Afreximbank and its subsidiaries, reflecting strong confidence in the bank’s long-term strategy.

Why It Matters

The recapitalisation programme is designed to ensure Nigerian banks are better equipped to absorb shocks, support large-scale financing, and compete globally.

For customers and businesses, a stronger capital base means:

Greater lending capacity for businesses

Improved financial stability

Increased confidence in the banking system

Fidelity Bank said its strengthened position would “enhance its balance sheet resilience, support business expansion, and enable it to play a more robust role in financing key sectors of the Nigerian economy.”

Earlier Capital Raising Efforts

The latest capital injection builds on previous fundraising rounds.

In June 2024, Fidelity Bank raised N175.85 billion through a public offer and rights issue, increasing its capital base to N305.5 billion at the time.

That left a gap of N194.5 billion, which has now been fully covered through the private placement.

The move was backed by shareholders during an Extraordinary General Meeting held on February 6, 2025, where the board was authorised to issue up to 20 billion ordinary shares.

Industry Reactions

Market analysts say the bank’s ability to complete a major capital raise in a single day highlights strong investor trust despite challenging economic conditions.

They noted that the exercise “underscores strong investor confidence in the bank’s growth strategy, governance framework and long-term fundamentals.”

Analysts also point to tighter regulations and macroeconomic pressures as key tests for banks navigating the post-recapitalisation era.

Market Performance

Fidelity Bank’s shares closed at N19.50 on April 10, 2026, on the NGX, reflecting steady investor interest following the capital raise.

What’s Next for Fidelity Bank

The bank says it will focus on:

Expanding its market footprint

Supporting key sectors of the economy

Delivering returns to shareholders

Maintaining prudent risk management

It added that it remains committed to “value creation for shareholders” as the industry adjusts to new capital requirements.