R-L: Regional Bank Head, Abuja III, Martin Ayodele; Divisional Head, SME Banking, Ugochi Osinigwe; Executive Director, North Directorate, Sufiyanu Garba; and Regional Bank Head, Abuja, Vanessa Mordi (all of Fidelity Bank Plc); at the Fidelity Bank SME Quarterly Business Forum, held in Abuja recently.
By Peace Udugba
Fidelity Bank Plc has reaffirmed its commitment to supporting the growth of Small and Medium-sized Enterprises (SMEs) in Nigeria through improved access to affordable financing, business advisory services and capacity-building initiatives.
The bank reiterated its commitment at the Abuja edition of its quarterly SME Business Forum, themed “Built to Compete: Positioning Abuja Businesses for Sustainable Growth.” The event brought together entrepreneurs, industry stakeholders and regulatory representatives to discuss challenges affecting business competitiveness and sustainable growth.
Speaking at the forum, Executive Director, North Directorate, Fidelity Bank Plc, Sufiyanu Garba, said the bank remained committed to providing entrepreneurs with financing, business knowledge, strategic connections and solutions to support their growth.
He also urged business owners to embrace financial discipline, strengthen their business structures and leverage technology to improve operations.
According to Garba, strong sales figures do not necessarily translate into profitability or healthy cash flow, stressing the need for entrepreneurs to understand their business costs, manage working capital effectively, maintain reliable financial records and adopt technology-driven solutions.
He explained that these practices would position businesses to access financing, explore bigger opportunities and compete successfully in the marketplace.
Garba disclosed that Fidelity Bank offers various financing solutions, including working capital facilities, overdrafts, term loans, asset and equipment financing, trade finance and structured lending, tailored to businesses’ funding requirements and operating cycles.
He further revealed that the bank was collaborating with on-lending institutions to provide eligible businesses with access to intervention funds at interest rates ranging from 10 to 16 per cent, depending on the applicable funding scheme.
He noted that access to affordable financing remained critical to SME development, adding that the initiative was designed to reduce financial pressures on entrepreneurs, particularly women-owned businesses, youth-led enterprises and businesses operating in the green economy.
The forum also provided an opportunity for entrepreneurs to engage regulatory stakeholders on taxation, customs procedures, importation, exportation and other issues affecting business operations.
Commending the initiative, Secretary of the Iron Dealers Association, Mararaba, Okwuchukwu Okolo, described the forum as a valuable platform for business owners to interact directly with the bank and relevant regulatory agencies.
He said the discussions provided useful clarification on multiple taxation and customs procedures, enabling entrepreneurs to better understand their regulatory obligations and seek practical solutions to business challenges.
Similarly, Chief Executive Officer of Febesth Global Resources Limited, Abuja, Folake Olufemi, praised Fidelity Bank for creating opportunities for knowledge-sharing and business networking.
Olufemi said she gained valuable insights into importation procedures and the appropriate channels for addressing customs-related complaints.
She added that the forum also provided opportunities to interact with the bank and discuss challenges affecting business operations.
The Fidelity SME Quarterly Business Forum, which has recorded successful editions in Lagos, Kano, Port Harcourt and Abuja, forms part of the bank’s broader commitment to equipping Nigerian entrepreneurs with the financing, knowledge, market access and strategic connections required to build resilient and competitive businesses.
Fidelity Bank Plc is a full-fledged commercial deposit money bank serving over 10 million customers through its digital banking channels and 255 business offices in Nigeria, as well as its United Kingdom subsidiary, FidBank UK Limited.
The bank has received several local and international recognitions, including the 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME Support and the Best Retail and SME Bank Award from Independent Newspapers.
Other recognitions include Best Bank for Export and Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards, as well as Nigeria’s Best Private Bank at the 2025 Euromoney Awards.
It also received the inaugural Most Improved Commercial Bank of the Year award from Nairametrics, SME Bank of the Year from NewsDirect, and the Straight-Through Processing (STP) Excellence Award from Citi Group. Global Brands Magazine also recognised the bank for Excellence in Community Empowerment.
