Jaiz Bank is planning to introduce collateral-free loans for small and medium-sized enterprises (SMEs) and retail customers, pending approval from the Central Bank of Nigeria (CBN). This initiative is aimed at enhancing financial inclusion.

Wema Bank has obtained a €50 million financing facility from EIB Global, the European Investment Bank's development arm, aimed at enhancing credit access for small and medium-sized enterprises (SMEs), particularly those owned by women and youth. The agreement was signed in Lagos and represents the first transaction between Wema Bank and EIB Global.

The National Agency for Science and Engineering Infrastructure (NASENI) and the Code of Conduct Bureau (CCB) have signed a Memorandum of Understanding (MoU) to enhance institutional digital systems and provide technical advisory support. The agreement, finalized at NASENI's headquarters in Idu, Abuja, aims to strengthen collaboration between the two agencies.

Discussions about small and medium-sized enterprises (SMEs) in Nigeria have traditionally centered on access to finance. However, according to Nairametrics, funding alone is insufficient for driving the next phase of SME growth. Entrepreneurs are confronted with challenges such as high operational costs, evolving customer preferences, rapid technological advancements, and increased competition, indicating a need for a broader approach beyond just financial support.

According to a report by Omni, Nigeria's fast-moving consumer goods (FMCG) market has reached a value of $25 billion. However, only 18% of retailers in the sector have accessed formal credit. The report suggests that technology may play a crucial role in bridging this gap in financial access for retailers.

Nigeria and France are enhancing their collaboration in agribusiness, with an emphasis on value chains, logistics, and agro-processing aimed at unlocking Nigeria's agricultural potential.