Business
Sterling Bank Celebrates One Year of Africa-Built Core Banking System SeaBaas
Sterling Bank Limited has celebrated the first anniversary of SeaBaas, the first core banking system designed and built in Africa, describing the achievement as a breakthrough for African innovation in financial technology.
In just one year since its launch, the platform has processed more than two billion transactions, cut processing times by about 60%, and driven a 66% rise in customer adoption, setting new benchmarks for speed, efficiency, and resilience in African banking.
The platform, which has supported Sterling’s digital ecosystem including OneBank, SterlingPro, Switch, and Specta, has also enabled fintech integrations, agent banking services, and third-party solutions. Remarkably, it has achieved zero downtime in 365 days of service.
‘Proof of Possibility’ – CEO Abubakar Suleiman
Sterling Bank’s Chief Executive, Abubakar Suleiman, said SeaBaas was more than just a technological platform, but evidence of Africa’s ability to deliver world-class innovation.
“SeaBaas, to us, represents a proof of possibility,” Suleiman said. “It shows that Africa can build world-class technology, solve complex problems locally, and scale globally. This milestone is a collective victory for every Sterling colleague, our partners, and our customers who believed in the vision.”
Suleiman added that the success of the platform reflected a culture of courage and ingenuity within the organisation and across its partner network.
Built in Africa, for Africa
The system was designed by Sterling Bank and co-developed with Peerless Software, KPMG, Bazara Technologies, Revent Technologies, and AppQuest Solutions, alongside the bank’s in-house engineering team.
Beyond its performance, the bank said the innovation had unlocked significant cost savings, freed up resources for reinvestment, and accelerated financial inclusion across Nigeria’s economy.
Looking ahead, Sterling Bank said it intends to expand SeaBaas capabilities to address new challenges, reimagine financial systems, and highlight the potential of African-led innovation on a global stage.
“SeaBaas reminds us that when we dare to dream boldly and build courageously, there is no limit to what we can achieve in Africa,” Suleiman added. “This is only the beginning.”
About Sterling Bank
Sterling Bank Limited, a member of Sterling Financial Holdings Company, has operated for over 60 years and evolved from Nigeria’s pre-eminent investment banking institution to a national commercial bank.
Guided by its HEART strategy – focusing on Health, Education, Agriculture, Renewable Energy, and Transportation – the bank has earned recognition as Africa’s most agile company and as the Best Workplace in Banking in Nigeria.
With a commitment to digital banking and financial inclusion, Sterling Bank continues to transform customer experience while driving purpose-driven leadership across Nigeria’s financial sector.
Business
Unity Bank Corpreneurship Challenge: OAU, UNN Graduates Win N800,000 Grants at NYSC Camps
Fresh graduates from Obafemi Awolowo University (OAU), University of Nigeria, Nsukka (UNN), and other tertiary institutions have won cash grants of up to N800,000 in the latest edition of Unity Bank’s Corpreneurship Challenge.
The winners emerged during business pitch sessions held at Batch C, Stream 2 of the National Youth Service Corps (NYSC) orientation camps across 10 states.
The competition forms part of Unity Bank’s flagship Entrepreneurship Development Initiative, designed to help corps members turn business ideas into viable ventures.
Who won what?
At the Lagos NYSC Orientation Camp, Awolumate Fawaz Babatunde, a Civil Engineering graduate of The Polytechnic, Ibadan, clinched the N800,000 grand prize after pitching a fashion design business.
Ugwoke Daniel Ifechukwu, a graduate of UNN, finished as first runner-up, receiving N500,000.
In Rivers State, Abdur-Razaq Sayfullah Adebola, an OAU graduate, topped the competition at the Nonwa Gbam Tai camp with a footwear-making business proposal.
Olatunde Esther Funmilayo of Olabisi Onabanjo University won in Kwara State after presenting a deodorant production and services business plan.
Additional winners emerged from Abuja, Niger, Adamawa, Jigawa, Plateau, Kaduna, and Delta States.
Why It Matters
Nigeria faces rising youth unemployment and shrinking white-collar job opportunities.
For many graduates, the NYSC year is increasingly becoming a transition period into entrepreneurship rather than salaried employment.
Unity Bank says the programme is designed to close the funding gap young entrepreneurs often face at the start of their careers.
Speaking on the initiative, Mrs Adenike Abimbola, Divisional Head, Retail, SME & E-Business at Unity Bank Plc, said:
“The Corpreneurship Challenge has been driven by our commitment to boosting entrepreneurship among young people, especially fresh graduates. At Unity Bank, we recognise that many young Nigerians possess viable business ideas but lack the initial capital and support to bring them to life. The Corpreneurship Challenge was designed to bridge that gap by providing financial backing, mentorship, and confidence to fresh graduates at a critical stage of their lives.”
She added:
“What we see every edition is innovation, resilience, and a strong desire among young graduates to create value and jobs. By supporting them early, we are not only helping individuals, but also contributing to the growth of the SME ecosystem and the broader economy.”
The Corpreneurship Challenge is delivered in partnership with the NYSC Skill Acquisition and Entrepreneurship Development (SAED) initiative.
Since its inception, the programme has supported 638 young entrepreneurs nationwide, with cumulative grants reportedly reaching up to N300 million.
Government & Policy Context
The initiative aligns with the Federal Government’s push to promote self-employment among graduates.
With public sector hiring slowing and private sector absorption limited, entrepreneurship is increasingly viewed as a pathway to economic stability and job creation.
What’s Next?
Unity Bank says it plans to expand the reach of the Corpreneurship Challenge across more NYSC camps.
The bank says the initiative forms part of its broader strategy to drive financial inclusion, job creation, and sustainable economic growth.
For many corps members, the next step will be translating pitch ideas into real businesses in competitive markets.
Business
Union Bank Executives Inducted as ARCON Registered Advertising Practitioners in Lagos
Senior marketing executives of Union Bank of Nigeria have been inducted as Registered Advertising Practitioners by the Advertising Regulatory Council of Nigeria (ARCON).
The induction ceremony took place at Stallion Plaza, Marina, Lagos.
The event marks a formal recognition of the bank’s senior brand and marketing professionals under Nigeria’s advertising regulatory framework.
Why It Matters
ARCON is Nigeria’s statutory regulator for advertising and marketing communications.
The body ensures that practitioners meet professional, ethical and regulatory standards.
For financial institutions like Union Bank, compliance with advertising regulations is increasingly important as digital marketing expands and consumer protection concerns grow.
The Induction Ceremony
Those inducted include Union Bank’s Chief Brand and Marketing Officer, Mrs Olufunmilola Aluko.
Also present were the Director-General of ARCON, Dr Olalekan Olumuyiwa Fadolapo, and ARCON’s Director of Regulation, Monitoring and Enforcement, Mrs Emme Akande.
Other Union Bank executives inducted include Alvin Agorom, Head of Strategic Brand Management; Ejiebhen Egbomondion, Head of Product Marketing; and Olufisayo Adelekun, Head of Strategic Communications and Media.
The ceremony formally registers them as licensed practitioners under Nigerian law.
ARCON’s Expanding Role
ARCON has in recent years intensified enforcement of advertising regulations, including sanctioning unregistered practitioners and non-compliant campaigns.
The regulator says its goal is to sanitise the industry and protect consumers from misleading or unethical advertising.
What’s Next?
ARCON is expected to continue expanding registration and enforcement across industries.
For Union Bank, the induction signals a commitment to aligning its brand communication strategy with regulatory standards.
Business
iGoGlobal Launches Couples Week Promo With Free Wellness Products for Members
iGoGlobal International has announced a new promotional campaign aimed at encouraging joint participation and account upgrades within its global network.
The initiative, tagged “Couples Week,” rewards members who activate new registrations or upgrade existing accounts with complimentary units of the company’s wellness products.
The company says the offer is part of a broader strategy to strengthen community growth while promoting personal health and financial empowerment.
How the Couples Week promo works
Under the promotion, rewards increase depending on the membership package activated.
Members who sign up or upgrade to the Presidential package will receive seven complimentary wellness units, while those choosing the Royal package get four units.
The First Class package attracts three units, the Business package comes with two units, and the Advanced package offers one unit.
According to iGoGlobal, upgrades from Economy or Premium packages to higher tiers will be treated as fresh registrations, allowing members to access the full promotional benefits.
However, Economy and Premium packages are excluded from the Couples Week offer.
Why it matters
Direct-selling companies often rely on incentives to drive engagement, retention, and network expansion.
For members, the incentive reduces the cost of entry into higher packages while providing access to wellness products that would normally require additional spending.
Company reaction
Speaking on the promotion, an iGoGlobal spokesperson, Mr Emmanuel, described it as a timely opportunity for members.
“Couples Week just got hotter. This is a prime opportunity for our global community to accelerate their business momentum while securing our most sought-after wellness products,” he said.
The company added that the campaign reflects its dual focus on entrepreneurship and healthy living.
What’s next
iGoGlobal says the Couples Week promotion is time-limited, urging interested members and prospective partners to act quickly.
Further details on package tiers and rewards are available on the company’s official website and through local distributors.
About iGoGlobal International
iGoGlobal International is a global direct-selling company focused on wellness solutions and entrepreneurial development.
Through its tiered membership structure, the company says it aims to help individuals improve their quality of life while building sustainable income streams.
-
Politics4 days agoAPC Chief Eze Accuses FCT Minister Wike of Threats Over Stadium Use
-
Crime3 days agoOyo Police Investigate Alleged Defilement of Six-year-old Girl in Ibadan
-
Business6 days agoApapa Customs Praised for Record Revenue and Major Drug Seizures
-
Technology3 days agoNCC Opens Public Consultation to Review Nigeria’s 25-Year-Old Telecoms Policy
-
Business3 days agoFG Reopens Tsamiya Border Corridor to Boost Trade and Border Security
-
Business &Economy2 days agoNigeria Customs Inspects Tsamiya–Segbana Border After Reopening for Transit Trade
-
Entertainment1 day agoOoni of Ife to Headline New Telegraph Awards Night in Lagos
-
Metro4 days agoLASTMA Prevents Fire Disaster After Fuel Tanker Overturns on Lekki–Epe Expressway

