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Polaris Bank inducts 136 fresh Graduates of its Intensive Graduate Training program 

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Polaris Bank has unveiled 136 graduate trainees of its coveted Polaris Graduate Intensive Training (PGIT) programme into its employment. 

Speaking at the graduation ceremony which held in Lagos on Friday, the Managing Director/CEO of the Bank, Mr. Innocent C. Ike said the successful completion of the program, marks the beginning of the career journey of the 136 successful candidates.

He admonished the graduands to embrace Polaris Bank’s corporate goal of building the safest, most robust and digitally-enabled Bank whose products, services and platforms, enrich user experience.

The CEO told the new graduate trainees that: “you are having a date with history today you are our first virtual trainees and also the first set of employees to join us during/after COVID-19.”

Mr. Ike advised the graduands to imbibe team spirit which has become the hallmark and traits in Polaris Bank. He informed the new staff that the Bank operates an open door policy to all its employees, customers and other stakeholders.

Earlier, the Bank’s Group Head of HR & Strategy, Mr. Taiwo Olupeka, disclosed that the training adverts/notification put out to the public, received over 31,000 applicants.

He said out of the 2,000 invited for the entry test, 136 made it to the intensive training stage in two separate batches. He assured management of the Bank that the 136 graduands have what it takes to lift the Bank to the next level.

The highlight of the event was the presentation of certificates of participation to all the graduands and special prizes for outstanding graduands.

Augusta Ndeche who emerged the best student in batch A of the PGIT said, “despite all the distractions, we made a commitment to follow through because we wanted to be Enablers, Tastemakers, Pathfinders and Disruptors.

As we begin our career as bankers, I urge us all to be an epitome of integrity and to always strive for excellence.”

On the other hand, Olalekan Adeyinka who was the best student in batch B of the PGIT said, “Though the training was quite intensive, the facilitators made it exciting and less arduous.

We were guided through the rich Polaris Bank culture and values, adding that the positive atmosphere also encouraged fast learning that boosted our skill set for the task ahead.”

Also, Osamudiamen Ekhator, who was the first runner up said: “The virtual teaching experience made the lectures more intense. However, we easily adapted to the new environment due to the facilitators positive outlook and skill with passing knowledge.” While Abraham Enabulele, the second runner up remarked that: “The ambience and teaching process was industry standard. This gave us the opportunity to be exposed to Polaris Bank culture, values and expectations.”

The top 6 best graduating students of the two batches of the PGIT were: Olalekan Adeyinka; Augusta Ndeche; Enabulele Abraham; Abraham Faustine Osamudiamen Ekhator and Ibrahim Temitope

Polaris Bank is a future-determining Bank committed to the delivery of industry-defining products, and services, across all the sectors of the Nigerian economy.

Business

Bitcoin Slumps To $35,000 After Federal Open Market Committee Report

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Bitcoin (BTC) is currently down 5.09%, trading at $35,686.47, just days after breaking the $40,000 level. The downturn did not just affect Bitcoin and the cryptocurrency market alone.

The stock market and commodities were not left out of the selloff which resulted from Federal Reserve Chair, Jerome Powell’s comments related to future interest rate hikes and concerns over rising inflation.

The comments led to major declines in both the cryptocurrency and commodity market, particularly Gold.

This online medium had earlier reported that Gold had fallen below the $1,800 mark, dropping over $130 since the beginning of this month after hitting a high of $1,916, which has not been touched since January 2021.

This crash was also caused by the same Federal Open Market Committee (FOMC) report.

Reasons for the decline in Bitcoin

First is the FOMC report. The Fed took a surprisingly aggressive tone as it handed down the decision yesterday.

Out of 18 Fed officials, 11 forecasts at least two quarter-point interest rate increases for 2023 which is a sign that the central bank has begun asset tapering discussions.

This boosted the dollar index which in turn gave strength to the dollar, which ultimately caused a decline in Bitcoin and the entire cryptocurrency market.

With the market already selling off as a result of the heat from the FOMC report, investors lost confidence in the market, thereby increasing the momentum of exchange inflows in cryptocurrencies like Bitcoin which ultimately brought about the decline in the market like we saw in the commodity market.

As seen above, Bitcoin’s price decline was also perpetrated by increased inflows to spot exchanges which led some analysts to speculate that traders who failed to cash out near the high are taking advantage of lower highs to lock in gains.

As the sell-off intensified as a result of the FOMC report, the NetFlow of BTC into exchanges saw noticeable selling pressure, which kept Bitcoin pinned below $36,000.

What Bitcoin’s tumble means

As Bitcoin failed to retake the $40,000 trading zone, investors need to keep a close eye on on-chain analytics which will point to where investor sentiments will be heading.

So far, some analytics are showing bullish signs as whale wallets holding between 100 BTC and 10,000 BTC have increased their holdings by 90,000 BTC over the past 25 days, suggesting a more positive long-term outlook.

The investors also need to be aware that MicroStrategy will be pumping the Bitcoin market by injecting a fresh $488 million which is also another bullish indicator.

 

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BUA DENIES INCREASE IN THE PRICE OF ITS CEMENT, FROWNS AT CARTEL- LIKE OPERATION TO DETERMINE PRODUCT PRICES

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The BUA group has denied increase in the price of it’s cement. The clarification came as a result of requests from customers as well as distributors who have been calling to find out whether, like DANGOTE Cement BUA had also increased its own price by 260 Naira.

In a signed statement released this afternoon, the BUA group insists that it stands by its earlier decision not to increase cement price which was communicated on April 24, 2021.

According to the management of BUA, they are aware that Dangote decided to increase the price of it’s cement by 260 NAIRA from June 14, 2021. The management also noted that even though there had been decline in cement demand due to commencement of rainy season, any further increase in price will disrupt, the normalisation or stabilisation  of prices.

The BUA group further stated that they will always be willing to play their role as a responsible corporate entity rather than associate with others to form a cartel to fix prices which will ultimately not be in the best interest of Nigerians.

In their words, ‘ The timing is not right for any increase on BUA’s part and we do not have any justifiable business reason to increase to increase our prices any time soon.

They also hope that the price increase by Dangote will not disrupt the downward trend of cement price movement

See statement:

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Fidelity GAIM Season 4 Final Draw To Hold On July 22

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….Bank To Enrich 15 Lucky Customers With Millions of Naira

Lagos Nigeria June 21, 2021: Fidelity Bank Plc, top Nigerian lender, has announced plans to enrich the lives of fifteen Nigerians with a total of 39 million Naira at the final draw of the Get Alert in Millions Campaign (GAIM) Season 4 savings promo, slated for July 22, 2021.

The savings promotion, which is specifically aimed at promoting the culture of saving among Nigerians, is one of the bank’s many initiatives aimed at rewarding new and existing customers for their unwavering loyalty and patronage.

Despite the fact that the promotion was halted in 2020 due to the Coronavirus (Covid-19) Pandemic and the resulting global lockdown, hundreds of Nigerians have benefited from this unique reward scheme in which lucky customers are credited with millions of naira and consolation prizes via a draw system.

The Chairman, Promo Committee, Fidelity Bank Plc, Mr. Richard Madiebo expressed his delight at the resumption of the savings promotion, stating that the campaign seeks to reward customers for their loyalty and patronage. According to Mr. Madiebo, for the past twelve years, the bank has empowered new and existing customers, providing an avenue for many to change their fortunes through its savings Promo.

He stated that the bank takes pride in keeping its promises, adding that the lender would continue to look out for innovative ways to satisfy and enrich its customers across the nation.

“And as we wind down on the 4th season of the GAIM promo, we are elated at the prospect of not only driving financial inclusion across Nigeria, but also at the unique opportunity to enrich the lives of our customers especially in times of economic uncertainties”, noted Madiebo

Over the years, the leading tier two Bank has continued to intensify its efforts and innovate ways towards ensuring customer and stakeholder satisfaction. Through this promo, Fidelity Bank has promoted financial inclusion through digital channels and enriched the lives of its custom

 

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