Lagos, Nigeria – Fidelity Bank Plc has commenced the disbursement of the Federal Government of Nigeria’s (FGN) MSME Intervention Funds, with a strategic focus on supporting women-owned businesses across the country.
The fund, administered by the Bank of Industry (BOI), is part of a nationwide initiative aimed at providing accessible and affordable financing to micro, small, and medium enterprises (MSMEs) in all 36 states.
Speaking on the development, Osita Ede, Divisional Head, Product Development at Fidelity Bank, said:
“As a bank deeply committed to the growth of SMEs, we are proud to partner with the Federal Government and BOI on this critical intervention. In this phase, we are placing women at the forefront because we recognize their resilience, innovation, and contributions to employment generation in Nigeria.”
The bank has implemented a robust structure to ensure smooth onboarding and disbursement, leveraging its digital platforms, experienced relationship managers, and over 250 branches nationwide.
Fidelity Bank’s involvement in this initiative aligns with its broader mission to foster inclusive economic growth through strategic support for SMEs. This includes the recent launch of the Fidelity SME Empowerment Programme (FSEP) at its Gbagada SME Hub in Lagos, where 100 growth-ready businesses received ERPRev-enabled POS systems, software, and six months of post-installation support—completely free of charge.
In May 2025, the bank also signed a Memorandum of Understanding with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to provide low-interest financing, training, and market access to SMEs under a referral partnership.
“Our vision goes beyond financing. We are building a complete support ecosystem for SMEs—offering capacity-building, mentorship, and access to markets. Women entrepreneurs, in particular, will receive a larger share of this fund as part of our strategy to promote gender inclusion,” Ede added.
Fidelity Bank continues to strengthen its position as a leading player in Nigeria’s MSME landscape. With over 9.1 million customers, a UK subsidiary (FidBank UK Limited), and multiple awards for innovation and SME banking—including the 2024 Best Bank for SMEs in Nigeria by Euromoney—the bank is reaffirming its role in driving economic resilience and job creation.
