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, during the bank's SME Quarterly Business Forum in Abuja.
Susan Abayomi
Fidelity Bank Plc has reiterated its commitment to supporting the growth of Small and Medium-sized Enterprises (SMEs) in Nigeria through affordable financing, business advisory services and capacity-building programmes.
The bank reaffirmed its commitment during the Abuja edition of its quarterly SME Business Forum, themed “Built to Compete: Positioning Abuja Businesses for Sustainable Growth.” The event brought together business owners, industry stakeholders and regulatory representatives to discuss challenges affecting business development and competitiveness.
Speaking at the forum, Executive Director, North Directorate, Fidelity Bank Plc, Sufiyanu Garba, said the bank remained committed to providing entrepreneurs with access to finance, business knowledge, strategic connections and solutions that would support their growth.
He also encouraged business owners to adopt sound financial management practices, strengthen their business structures and embrace technology to improve efficiency and competitiveness.
Garba explained that strong sales figures alone did not guarantee business success, stressing the importance of effective cash flow management, cost control, proper record-keeping and efficient working capital management.
According to him, these practices would enable businesses to qualify for financing, explore bigger opportunities and compete effectively in the marketplace.
He noted that Fidelity Bank offers various financing options, including working capital facilities, overdrafts, term loans, asset and equipment financing, trade finance and structured lending, designed to meet the diverse financial requirements of businesses.
Garba further revealed that the bank was partnering with on-lending institutions to make intervention funds available to eligible businesses at interest rates ranging from 10 to 16 per cent, depending on the applicable scheme.
He described access to affordable financing as a major requirement for SME development, noting that the initiative was aimed at reducing financial constraints and supporting businesses with growth potential.
He added that particular attention was being given to women-owned enterprises, youth-led businesses and companies operating in environmentally sustainable sectors.
The forum also provided an opportunity for entrepreneurs to interact with regulatory agencies and seek clarification on issues relating to taxation, customs procedures, importation, exportation and other business regulations.
Secretary of the Iron Dealers Association, Mararaba, Okwuchukwu Okolo, commended Fidelity Bank for organising the programme, describing it as a valuable platform for business owners to engage directly with financial institutions and regulatory authorities.
He said the discussions provided useful information on multiple taxation and customs procedures, while enabling entrepreneurs to better understand their regulatory responsibilities and address operational challenges.
Similarly, Chief Executive Officer of Febesth Global Resources Limited, Abuja, Folake Olufemi, praised the bank for creating opportunities for knowledge-sharing and business networking.
Olufemi said she gained useful insights into importation procedures and the appropriate channels for resolving customs-related complaints. She also noted that the forum provided an opportunity to discuss business challenges directly with the bank.
With previous editions held in Lagos, Kano and Port Harcourt, the SME Quarterly Business Forum is part of Fidelity Bank’s broader efforts to equip Nigerian entrepreneurs with the financial resources, business knowledge, market access and strategic partnerships needed to build sustainable and competitive enterprises.
Fidelity Bank Plc is a full-service commercial deposit money bank serving more than 10 million customers through its digital banking platforms, 255 business offices across Nigeria and its United Kingdom subsidiary, FidBank UK Limited.
The financial institution 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 honours include Best Bank for Export & 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.
The bank 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. It was further recognised by Global Brands Magazine for Excellence in Community Empowerment.
