Business
Wema Bank Training Institute, Purple Academy Confirmed Winner of the 2025 GlobalCCU Awards, Paris
Nigeria’s oldest indigenous bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT, Wema Bank, has been announced the gold winner of the 2025 Global Council of Corporate Universities Awards (GlobalCCU) Award for ‘Best Corporate University Culture’. Held in Paris, on May 12, 2025, the awards recognized the bank’s training institute, Purple Academy, for its excellence and strategic impact in driving learning culture.
Hosted every two years and considered the gold standard for corporate education, the GlobalCCU Awards played host to the world’s most innovative and high-impact corporate universities, evaluating nominees through a rigorous multi-phase process led by an international jury. The award also celebrates corporate universities that demonstrate measurable value for people, business, society, and the planet.
For the 2025 edition, Wema Bank’s Training Institute, Purple Academy was shortlisted alongside leading institutions from across the world, standing out for its transformative work in human capital development, strategic business alignment, and learning innovation.
Coming in the same year the bank celebrated its 80th anniversary, this recognition reinforces Wema Bank’s legacy as a forward-thinking institution committed to building people, pioneering innovation, and redefining the future of work in Nigeria and beyond. “This win is more than just a global recognition of our learning strategy as a bank, it’s a powerful validation of what we have stood for over the past 80 years,” said Moruf Oseni, Managing Director/CEO of Wema Bank.
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“At Wema, our transformation has always started with our people. Purple Academy is one of our promises in motion to equip every member of our workforce with the tools to grow, lead, and innovate as we evolve and adapt to our environment. To be globally recognized in this milestone year is a proud moment for us and everyone who has believed in our journey,” He concluded,
Speaking on why Purple Academy deserves the award, the Founder and Chairman of the GlobalCCU Awards, Annick Renaud-Coulon, shared, “Purple Academy is an outstanding Corporate University that is clearly the Best Corporate University Globally for driving a Learning Culture. It is a Corporate University that transmits, respects and preserves the Wema Bank cultural heritage and effectively evolves it as a principle which drives efficient actions.
The diversity of its employees generates a high level of empathy among its stakeholders. The way it honors diversity and inclusion is brilliant to see and their leaders are so engaging when featured in internal videos. They are not only representing a great company, but also the culture of their country in the best possible way.”
Wema Bank’s Training Institute, Purple Academy, launched as a corporate university in 2022, has a beacon of learning excellence and innovation, that empowers employees at every stage of their career. The corporate university offers a dynamic blend of immersive learning experiences, personalized development paths, and forward-thinking content that addresses the evolving demands of work, life, and leadership.
Through structured programs across its five key schools, including Culture, Leadership, Banking, Business, and the SME Business School, Purple Academy nurtures talent with a future-ready approach. From onboarding new hires through the Bankers-in-Training School to shaping high-impact leaders, the Academy remains committed to investing in people, promoting growth, and fostering a vibrant workplace culture aligned with Wema Bank’s legacy of innovation and excellence.
As Purple Academy continues to scale new heights and expand its influence across sectors and borders, this GlobalCCU recognition signals yet another bold chapter in Wema Bank’s story. It tells a story of a bank rooted in people, purpose, and the pursuit of excellence .
Business
BINATONE Announces Special One Month Black Friday Deals!
Global Appliances Nigeria Limited, manufacturers of Binatone products has, announced an exciting Black Friday deals.
The company’s Managing Director, Mr Prasun Banerjee, said the offer cut across Its Full Range of Smart Home Appliances.
“Binatone, one of Africa’s most trusted appliance brands for over 52 years, is delighted to announce its Black Friday Mega Sales offering amazing discounts across all key supermarkets and leading electronic stores nationwide” Mr Banerjee said in a statement.
The promotion will be from November 6th to december 6th, 2026.
During this period, Mr Banerjee said customers will have a full month to enjoy unbeatable prices on a wide range of Binatone products.
“From energy solutions to kitchen essentials, Binatone will bring exceptional value and innovation to every Nigerian home this festive season,” he added.
According to him, this year’s Black Friday promotions will feature exciting offers across multiple categories stressing that Shoppers can enjoy great discounts on stand fans equipped with mosquito-repellent and air-freshness features, including the newly introduced AD 1601 AC/DC Fan, which can be linked to a solar panel for clean, free air.
“The rechargeable fan range, available in three models with replaceable lithium-ion batteries, recharges in just four hours and provides up to ten hours of cooling—enough to last the whole night,” Mr Banerjee added.
For kitchen lovers, he said the KC6000 Yam Pounder/Fufu Maker promises quick, hygienic, and effortless meal preparation while the air-fryer series, available in three models, requires just a teaspoon of oil to make crispy, tasty, and healthy fries.
“Binatone’s cool-touch kettles, models CEJ 1799 and CEJ 1700T, come with elegant digital displays and are designed for safety and convenience, he added.
To protect valuable home appliances, he disclosed that Binatone’s power range offers stabilizers in 2 KVA and 5 KVA capacities and surge-voltage protectors in 13 A30 A ratings—ideal for air conditioners.
“The company’s newly launched Power Stations, available in 1.8 KVA and 2.4 KVA variants, provide portable, plug-and-play power with solar-charging capability, ensuring reliable backup power for homes, small offices, and outdoor use”
He disclosed that customers will also find irresistible discounts on Binatone’s dry and steam irons, garment steamers, and microwave ovens thar are perfect for everyday household needs.
“The breakfast-essentials range features pop-up toasters, sandwich makers, and juicers designed to make mornings easier,” he stated. He announced that the high-powered blender collection includes durable, unbreakable jugs capable of smoothly blending hard nuts and beans.
“Additionally, Binatone has introduced the Tefal Cookware Range, offering premium non-stick pots and pans for healthy cooking, along with Freeplay solar-powered lanterns and torches, ensuring every home remains bright and energy-efficient
“Binatone’s Black Friday celebration is our way of thanking loyal customers for their trust over the years,” Mr Banerjee added.
“We are bringing quality, affordability, and innovation together, thus making this season the perfect time to upgrade your home.
”All Binatone products comes with a two-year warranty, giving customers additional peace of mind and assurance of lasting quality.
“Don’t miss these amazing Black Friday offers, available for a limited time at all major supermarkets, electronic stores, and online platforms across,” he stated.
Business
Wema Bank’s Top 21 Hackaholics 7.0 Grand Finale Finalists Emerge
Wema Bank, Nigeria’s oldest indigenous bank and pioneer of Africa’s first fully digital bank, has unveiled the Top 21 finalists for Hackaholics 7.0, who will compete at the grand finale scheduled for Friday, November 6, 2026, in Lagos. Themed Festival of the Future, the grand finale will bring together innovators, technology leaders, startup founders, investors and key players in Nigeria’s innovation ecosystem for an immersive celebration of ideas, technology and the possibilities shaping the future.
The Top 21 finalists are: Dynalimb, Harthiq, Acceede, Vhorde, URI, Trarrk, SocialSign, RaverPay, All-Arbitrates, CitizensGage, Craft-Planet, FOID, PayByPalm, Niteonn, Nexa-AI, Neural-Forge, MamaAlert, JolliFlow, Becca, CropiQ and Middleman.
Hackaholics is Wema Bank’s youth and start-up-focused initiative, designed to provide young innovators with a platform to transform creative, technology-driven ideas into practical solutions to real-world challenges and gain a competitive edge in the global technology and digital space. Since its launch in 2019, the initiative has recorded over 21,000 applicants, engaged more than 50,000 participants, supported over 10,000 startups across three countries and developed more than 100 solutions from scratch.
The 7th edition, which commenced on July 1, 2026, attracted 5,329 participants and generated 1,632 innovative ideas and solutions across seven pitch-centre locations: Uyo, Kano, YabaTech, Benin, Ibadan, Enugu and Lagos. Following the nationwide tour, 59 participants emerged from the various centres, with the Top 21 selected through a rigorous, multi-stage evaluation process.
The Hackaholics 7.0 grand finale week will feature a three-day programme of strategic engagement and innovation-focused activities. On Wednesday, November 4, the finalists will participate in the Pre-Pitch, where they will present refined versions of their solutions. This will be followed by the Ecosystem Tour on Thursday, November 5, powered by Wema Bank, offering participants the opportunity to visit leading institutions within the technology and innovation ecosystem, interact with industry professionals and gain practical insights ahead of the final competition. The programme will culminate in the grand finale on Friday, November 6, where outstanding innovators will be recognised and celebrated.
Through Hackaholics, Wema Bank continues to demonstrate its commitment to advancing Nigeria’s innovation ecosystem by identifying emerging talent, creating opportunities for young innovators and supporting the development of solutions to real-world challenges. The initiative reinforces the Bank’s role in empowering the next generation of innovators and building an ecosystem where ideas can thrive and possibilities become reality.
Business
Sanusi Warns FG Against Spending Without Restraint
Emir of Kano, Alhaji Muhammadu Sanusi II, has implied that the Federal government may not be able to achieve it’s economic reform dream if it maintains it’s present expenditure rate, declaring that Nigeria could not pursue fiscal consolidation while continuing to spend without restraint.
Speaking virtually to the audience at the Oxford Global Think Tank Leadership Conference, organised by the Oxford Global Think Tank, on Tuesday, the monarch said reform must go beyond removing fuel subsidies and liberalising the exchange rate, describing it as a comprehensive package that needed to address many other areas.
He said government needed to make clear spending priorities, choosing between roads, electricity, agriculture, and technology based on available resources.
The Emir also raised concerns about the size of government expenditure, saying Nigeria could not pursue fiscal consolidation while continuing to spend without restraint.
He said the World Bank had pointed out that in the first half of this year Nigeria’s debt service consumed 124 per cent of federal government revenue.
Sanusi warned that the country needed to urgently address the sustainability of its debt and pursue structural reforms that had not yet been made.
The former CBN boss said every $10 billion spent on roads was $10 billion taken away from electricity and agriculture, stressing the need for deliberate choices.
Sanusi acknowledged that Tinubu’s economic reforms had produced measurable progress, citing improvements in GDP growth, inflation, and foreign reserves.
He said GDP growth has risen from an average of 0.9 per cent under the previous administration to 4.5 per cent, describing the change as progress that deserved recognition.
“I think moving from an average growth rate of 0.9 per cent to 4.5 per cent is progress. Moving from inflation of over 30 per cent to 14.5 per cent is progress.”
“Moving from the point where in 2023 the central bank’s reserves were maybe negative to where we are now having reserves of $55 billion is progress.”
He, however, stressed that issues such as poverty, hunger, maternal mortality, malnutrition, education and healthcare remained serious concerns that the reforms has not yet addressed.
Sanusi said the government should have designed social safety net policies to soften the impact of reforms on vulnerable Nigerians from the beginning.
The former CBN boss also advised the government to tolerate constructive criticism,warning the Federal Government against treating every comment about it’s workings as an attack on President Bola Tinubu.
“It’s not every time people talk about poverty or talk about difficulty that they’re just enemies of the government or making an attack on the president. That is not how to respond to economic distress,” he said.
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