… Bank offers 10-16% intervention funds, capacity building at quarterly Business Forum
By Rashidat Okunlade | Lagos
Leading financial institution, Fidelity Bank Plc, has reaffirmed its commitment to strengthening Nigeria’s Small and Medium-sized Enterprises (SMEs) through improved access to affordable financing, business advisory services, and capacity-building initiatives.
The bank restated this commitment at the Abuja edition of its quarterly SME Business Forum, themed “Built to Compete: Positioning Abuja Businesses for Sustainable Growth.”
The forum brought together entrepreneurs, industry stakeholders, and regulatory representatives to address key issues affecting business competitiveness and growth.
Access to Intervention Funds at 10-16%
Speaking at the event, the Executive Director, North Directorate, Fidelity Bank Plc, Sufiyanu Garba, reiterated the bank’s commitment to supporting entrepreneurs with financing, knowledge, connections, and solutions. He urged business owners to strengthen their financial discipline, structures, and use of technology.
“A business may record strong sales and still struggle with cash flow. Sustainable growth requires business owners to understand what drives profitability, manage costs and working capital effectively, keep reliable records and use technology to make better decisions. These are the disciplines that position businesses to access finance, pursue larger opportunities and compete successfully,” he said.
He emphasized that Fidelity Bank provides financing solutions covering working capital, overdrafts, term lending, asset and equipment finance, trade finance, and structured lending, tailored to businesses’ funding needs and operating cycles.
Garba further disclosed that the bank was collaborating with on-lending institutions to facilitate access to intervention funds at interest rates ranging from 10 to 16 per cent, depending on the applicable scheme.
“Access to affordable finance remains critical to SME growth. At Fidelity Bank, we are working with intervention funding partners to provide eligible businesses with financing at significantly reduced interest rates. Our goal is to ensure that promising businesses have the financial support they need to grow sustainably,” he said.
He added that the initiative was designed to ease financing pressures on entrepreneurs, particularly women-owned businesses, youth-led enterprises, and businesses operating in green sectors.
Engaging Regulators on Taxation and Customs
The forum also provided a platform for entrepreneurs to engage regulatory stakeholders on taxation, customs procedures, importation, exportation, and other issues affecting business operations.
Commending the initiative, the Secretary of the Iron Dealers Association, Mararaba, Okwuchukwu Okolo, described the forum as a valuable opportunity for entrepreneurs to engage directly with the bank and relevant regulatory agencies.
“The Fidelity Bank SME Business Forum provided useful clarification on multiple taxation and customs procedures. It is encouraging to have a platform where business owners can raise concerns, receive practical guidance and better understand their regulatory obligations,” Okolo said.
Similarly, the Chief Executive Officer of Febesth Global Resources Limited, Abuja, Folake Olufemi, applauded Fidelity Bank for facilitating knowledge-sharing and networking opportunities.
“I gained valuable insights into importation procedures and the appropriate channels for resolving customs-related complaints. The forum also created opportunities to network and engage directly with the bank on challenges affecting our businesses,” she said.
A Nationwide Impact
With successful editions held in Lagos, Kano, Port Harcourt, and Abuja, the Fidelity SME Quarterly Business Forum 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.
What To Know About Fidelity Bank Plc
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria, and its United Kingdom subsidiary, FidBank UK Limited.
The Bank is a recipient of multiple local and international awards, including:
2025 Development Bank of Nigeria (DBN) Innovation Award for MSME support
Best Retail and SME Bank Award from Independent Newspapers
Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards
Nigeria’s Best Private Bank at the 2025 Euromoney Awards
Most Improved Commercial Bank of the Year (inaugural) by Nairametrics
SME Bank of the Year by NewsDirect
Straight-Through Processing (STP) Excellence Award by Citi Group
Recognition by Global Brands Magazine for Excellence in Community Empowerment.
Why It Matters
Access to affordable capital remains the single biggest obstacle to SME growth in Nigeria. With commercial lending rates often hovering in the high 20s or 30s, many small businesses are priced out of the formal credit market, forcing them to rely on personal savings or high-interest informal lenders.
Fidelity Bank’s move to facilitate intervention funds at 10 to 16 per cent is a significant intervention. By collaborating with on-lending partners, the Bank is effectively bridging the gap between the Central Bank of Nigeria’s developmental finance schemes and the grassroots entrepreneurs who need them most. For a young business owner or a women-led enterprise, the difference between a 30% loan and a 15% loan can be the difference between bankruptcy and expansion.
Furthermore, the forum’s focus on regulatory engagement is highly practical. In Abuja, and across Nigeria, SMEs frequently grapple with confusing tax laws, multiple levies, and complex customs procedures. The opportunity to interact directly with regulators outside of a punitive or intimidating context empowers business owners to comply correctly and avoid costly penalties.
However, the Bank’s emphasis on financial discipline is also crucial. As Sufiyanu Garba noted, strong sales do not guarantee survival if cash flow is poorly managed. By combining access to credit with training on record-keeping, cost management, and technology adoption, Fidelity Bank is taking a holistic approach to SME development. It is not just giving businesses money; it is giving them the tools to use that money effectively.
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