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Sterling Bank Celebrates One Year of Africa-Built Core Banking System SeaBaas

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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.

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Rite Foods Celebrates Eid-el-Maulud, Calls for Peace, Unity

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Rite Foods Limited has joined Muslim faithful in Nigeria to mark Eid-el-Maulud, the annual celebration of the birth of Prophet Muhammad.

The company said the occasion should encourage Nigerians to reflect on values including peaceful coexistence, tolerance, unity and love.

Eid-el-Maulud is observed by Muslims in many parts of the world, although practices and the decision to mark the occasion vary among Muslim communities and countries.

In Nigeria, the celebration is also an opportunity for public and religious leaders to call for peace and social cohesion in a country facing economic pressures, insecurity and political divisions.

Rite Foods’ Managing Director and Chief Executive Officer, Seleem Adegunwa, urged Muslims to reflect on the life and teachings of Prophet Muhammad during the celebration.

“As a company that shares in the joy of our consumers, we stand with our Muslim brothers and sisters as they mark this important moment in their faith,” Adegunwa said. “We hope this season brings renewed unity and progress for all Nigerians.”

He also urged believers to pray for the country’s growth and to live in harmony with others.

What the company is saying

Ekuma Eze, Rite Foods’ Head of Corporate Affairs and Sustainability, said the company wanted to celebrate significant moments with its consumers.

“Speaking on the occasion, Seleem Adegunwa, Managing Director and Chief Executive Officer of Rite Foods Limited, urged Muslims to show exemplary conduct and live in harmony as they reflect on the life and teachings of Prophet Muhammad. He also urged believers to pray for the country’s growth in all spheres as they celebrate.”

Also Read: Rite Foods Named Among Nigeria’s Top 50 Companies of Impact 2026

Why Eid-el-Maulud matters

Eid-el-Maulud commemorates the birth of Prophet Muhammad and is marked through religious gatherings, prayers, sermons and other activities, depending on local traditions.

The celebration has historically provided Muslim communities with an opportunity to reflect on the Prophet’s teachings and values.

In Nigeria, the period can also have wider social and economic effects as families travel, attend religious gatherings and spend on food, transport and other goods.

For businesses in the consumer-goods sector, religious and cultural festivals can therefore form an important part of the annual trading calendar.

What happens next

Rite Foods said it would continue to mark important cultural and religious occasions with its consumers.

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Rite Foods Named Among Nigeria’s Top 50 Companies of Impact 2026

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Rite Foods Limited has been named one of Nigeria’s Top 50 Companies of Impact for 2026 at the Industry Newspaper Awards.

The award organisers said the recognition was based on the company’s contribution to economic and social development, including innovation, employment, sustainability and community initiatives.

However, the award comes at a time when Nigerian manufacturers are under pressure to cut production costs and improve their environmental performance.

The Manufacturers Association of Nigeria (MAN) says manufacturers spent about N1.35 trillion on alternative energy in 2025, reflecting the continuing cost of unreliable public electricity supply.

Why the award matters

For consumers, the significance of the recognition goes beyond another corporate award.

Rite Foods operates in the fast-moving consumer goods sector, where changes in production costs, energy prices, packaging and distribution can eventually affect the price and availability of products.

The company says it has invested in manufacturing infrastructure, technology and product development. Its portfolio includes Bigi soft drinks and water, Sosa fruit drinks, Fearless energy drink and several sausage products.

Sustainability claims

Industry Newspaper Editor-in-Chief and Chief Executive Officer Goddie Ofose said the award recognised companies that create economic, social and environmental value.

“The Top 50 Companies of Impact recognition is designed to celebrate organizations whose activities demonstrate tangible economic, social, and environmental value. Rite Foods distinguished itself through its commitment to innovation, sustainability, environmental preservation, and community development.”

Ofose specifically cited Rite Foods’ Waste-Is-Naira programme and Riteonthebeach environmental initiative.

Rite Foods launched Waste-Is-Naira with recycling company RecyclePoints in March 2026. The scheme allows households and waste collectors to exchange recovered plastic waste for financial value.

The initiative is particularly relevant because Nigeria is tightening its approach to post-consumer packaging.

The National Environmental Standards and Regulations Enforcement Agency (NESREA) has published national guidelines for implementing Extended Producer Responsibility (EPR) for plastic packaging. The framework places greater responsibility on producers for what happens to packaging after consumers use their products.

That means programmes such as plastic collection and recycling are increasingly becoming part of a wider regulatory expectation, rather than simply corporate social responsibility projects.

Cleaner energy

Rite Foods has also reported a major shift in the energy used at its manufacturing facilities.

The company said 95% of its energy consumption comes from natural gas and solar power, with diesel accounting for about 5%.

The claim was also reported during a February 2026 clean-energy engagement hosted by the company.

The shift matters because energy remains one of the biggest costs facing Nigerian manufacturers.

MAN recently called for cheaper electricity, better infrastructure and more consistent government policies, while the association has launched a programme aimed at helping manufacturers reduce energy costs and adopt cleaner technologies.

But natural gas is not the same as renewable energy. While gas can produce fewer emissions than diesel in many applications, it remains a fossil fuel.

The environmental value of Rite Foods’ energy transition therefore depends partly on how much of its reported 95% cleaner-energy mix comes from solar and how the company measures its overall emissions.

Also Read: Nigeria Customs Maps Corruption Risks to Strengthen Internal Controls 

Company response

Ekuma Eze, Head of Corporate Affairs and Sustainability at Rite Foods, said the recognition reflected activities beyond the company’s commercial operations.

“This honour is a reflection of the impact we are creating across multiple areas, from innovation and human capital development to community engagement, sustainability and support for initiatives that contribute to national development.”

He added:

“For us, innovation is not simply about introducing new products. It is about understanding consumers, investing in people and technology, improving our processes, and creating products and solutions that deliver value. This recognition reinforces our commitment to doing more.”

The company says its other social investment activities cover areas such as education, healthcare and economic empowerment.

It has not, however, published figures in the award announcement showing how many people have benefited from those programmes, how much it has invested or what measurable outcomes have resulted.

Those figures would make it easier for consumers, regulators and investors to assess whether the company’s sustainability claims translate into sustained public benefit.

A wider challenge for manufacturers

Rite Foods’ recognition comes against a difficult operating environment for Nigeria’s manufacturing sector.

MAN said in August that high energy costs, inadequate infrastructure, limited access to finance, regulatory bottlenecks and smuggling continued to constrain manufacturers.

At the same time, manufacturers face growing pressure to reduce waste and comply with environmental standards.

This creates both a challenge and an opportunity for companies such as Rite Foods.

Investing in efficient energy systems and packaging recovery can reduce some operating and environmental costs. But companies must also demonstrate that such programmes produce measurable results rather than relying on awards or broad sustainability claims.

For consumers, the next important question is therefore not simply which companies win impact awards, but what measurable difference their activities make.

For Rite Foods, that could include publishing clearer data on emissions, energy use, plastic recovered, jobs created and the outcomes of its community programmes.

The company says the latest recognition strengthens its commitment to innovation, sustainability and community development. Its longer-term impact will ultimately depend on whether those commitments continue to produce independently measurable results.

Sources: Industry Newspaper Awards statement supplied by Rite Foods; Manufacturers Association of Nigeria; NESREA; BusinessDay; PUNCH; THISDAY.

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Jamara Home Launches August 2026 Rainy-season Appliance Sales Campaign

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Jamara Home has launched a three-week sales campaign offering discounts on household appliances as Nigerian consumers enter a period of continued rainfall and increased demand for some home products.

The retailer says its “Stay Dry, Shop Fly” campaign will run from 4 to 24 August 2026, with televisions, refrigerators, freezers, washing machines, air conditioners, gas cookers, fans and other household products included.

Jamara Home says the campaign covers products from more than 30 international brands.

Oluwatomi Faniran, Head of Marketing at Jamara Home, said the campaign was intended to make household appliances more affordable.

“The rainy season changes the way many families live and interact within their homes, making dependable home appliances even more essential. Through our ‘Stay Dry, Shop Fly’ campaign, we’re giving customers access to genuine products from trusted global brands at exceptional prices, helping them create comfortable homes without placing unnecessary pressure on their finances. At Jamara Home, our focus has always been on delivering quality, value, and an enjoyable shopping experience for every customer.”

Who stands to benefit?

For Jamara Home, the campaign provides an opportunity to increase sales during a period when retailers traditionally promote weather-related products.

For consumers, the potential benefit is straightforward: a genuine reduction in the cost of an appliance that a household already needs.

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