By Ayomide Otitoju
Fidelity Bank Plc, a leading Tier-One financial institution, has commenced the disbursement of the Federal Government’s MSME Intervention Fund, administered by the Bank of Industry (BOI), with a strategic focus on empowering women-led enterprises across Nigeria.
The initiative, designed to provide accessible financing for micro, small, and medium enterprises (MSMEs) in all 36 states, reinforces Fidelity Bank’s commitment to inclusive economic growth and the advancement of the SME sector.
Speaking on the development, Osita Ede, Divisional Head, Product Development at Fidelity Bank, said the bank’s partnership with the Federal Government and BOI reflects its dedication to fostering entrepreneurship and job creation.
“For this phase, we are placing women at the forefront because we recognize their resilience, innovation, and pivotal contributions to wealth creation and employment generation in Nigeria,” Ede stated.
To ensure smooth implementation, Fidelity Bank has deployed a robust support structure leveraging its nationwide branch network, digital banking platforms, and relationship managers to reach entrepreneurs in both urban and rural areas.
The bank’s role in the fund’s disbursement complements its ongoing SME empowerment initiatives. Earlier this year, Fidelity launched the Fidelity SME Empowerment Programme (FSEP) at its Gbagada SME Hub, providing 100 SMEs with ERPRev-enabled POS systems, business software, inventory tools, and six months of post-installation support at no cost.
In May 2025, the bank also signed a Memorandum of Understanding (MoU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to provide low-interest financing, capacity-building programmes, and market access for registered SMEs.
“Our vision goes beyond financing. We are building an ecosystem of support through mentorship, capacity development, and gender-inclusive initiatives,” Ede added.
Ranked among Nigeria’s leading banks, Fidelity serves over 9.1 million customers through 255 business offices and its UK subsidiary, FidBank UK Limited. The bank has received multiple local and international accolades, including the 2024 Euromoney Award for Best Bank for SMEs in Nigeria, Export Financing Bank of the Year by BAFI Awards, and Most Innovative Mobile Banking Application by Global Business Outlook.
