Press Release
Polaris Bank Emerges Nigeria’s Top Bank In MSME Ending
Nigeria’s leading digital retail commercial bank, Polaris Bank was adjudged at the weekend as Nigeria’s topmost bank in lending to the Micro, Small and Medium Enterprises (MSMEs).
The award recognised Polaris Bank’s longstanding commitments to supporting MSMEs through several direct and indirect funding channels.
Expert judges at the inaugural MSME Finance Awards 2024, organised by Nairametrics and The Economic Forum, at the weekend in Lagos, said the choice of Polaris Bank as the ‘Best in MSME Lending’ (Banking Sector) was based on the bank’s provision of sustainable finance and funding to entrepreneurs in the MSMEs sector to grow their businesses.
MSMEs are the largest employers in the Nigerian economy, providing immense contributions in job creation and economic activities. Recent data showed that the contribution of the MSME sector to employment had increased by 3.5 per cent.
The International Labour Organisation (ILO) estimated that MSMEs contribute around 48 per cent to GDP and around 80 per cent of total employment in Nigeria.
The award ceremony, held at the upscale Civic Centre, Victoria Island, Lagos, cemented Polaris Bank’s reputation as a pacesetter in industry standards for lending and impact-driven financing to critical sectors of the Nigerian economy.
Commenting on the award, Managing Director, Polaris Bank, Mr. Kayode Lawal, said: “We are honoured to receive this prestigious award, recognising our commitment to empowering Nigerian MSMEs. Micro, small, and medium businesses are pivotal to national economic growth; they are the backbone for large corporations and drive innovation and job creation.
“We are glad that our dedication to providing accessible financing and tailor-made innovative solutions has made a tangible impact on the growth and sustainability of these vital businesses.’’
He commended Nairametrics and The Economic Forum series for the award and assured of Polaris Bank’s continued commitment to MSMEs empowerment by delivering innovative and exceptional customer-centric services and solutions that propel Nigeria’s overall economic advancement.
“We are grateful to Nairametrics and The Economic Forum for this recognition, acknowledging our team’s relentless efforts to provide innovative and exceptional services to Nigeria’s MSME sector. This award is a motivation for us; our strategic focus on MSME lending, driving financial inclusion, and promoting Nigeria’s economic development remains something we are committed to,’’ he stated.
Nairametrics, Nigeria’s leading financial literacy news platform, explained that the nomination and subsequent award bestowed on Polaris Bank and other finalists were meant to honour financial services organizations—including banks, insurance companies, and fintech companies—that have made a real impact on MSMEs in Nigeria, ensuring sustainable growth for the sector.
Polaris Bank has built a strong footprint in financing MSME by committing billions of naira in loans to support MSME operations in Nigeria, with huge lending portfolio dedicated to empowering micro, small, and medium businesses meant to grow businesses, create jobs, and build wealth. These initiatives have earned Polaris Bank multiple awards and recognitions, including the 2022 and 2023 MSME Bank of the Year award by BusinessDAY’s Banks and Other Financial Institutions Awards (BAFI).
Press Release
Unity Bank, ANWBN Empower Women Entrepreneurs with AI, Digital Marketing Skills
Unity Bank Plc has hosted a capacity-building workshop to support the Association of Nigerian Women in Business Network (ANWBN) in a move aimed at empowering women entrepreneurs with the necessary skills required to thrive in today’s digital economy.
The initiative for the workshop stems from the growing advancement in technology and its impact on business hence the theme: “Empowering Women Entrepreneurs: AI and Digital Marketing Strategies,” which sought to equip women with practical knowledge on how to harness the power and take advantage of emerging technology.
As a platform that drew the participation of businesses from diverse sectors, attendees were provided with tools for leveraging digital platforms for expanding market reach, building efficiency in business operations, engaging customers, and increasing brand visibility.
Renowned industry experts and speakers such as Dr. Opeyemi Ojesina, the Chief Executive Officer of Jesshill Consulting, Nkechinyere Ojiego, General Manager, of Simba Group, and Mrs. Adenike Abimbola, Divisional Head, of Retail and SME Banking, Unity Bank Plc, led impactful sessions at the workshop designed to help participants grow their businesses by leveraging cutting-edge technologies and customer-centric marketing strategies.
Addressing the media after the event, Mrs. Adenike Abimbola said the capacity-building initiative was inspired by the need to empower women entrepreneurs to take advantage of the growing opportunities presented by the evolving digital marketing landscape.
She said, “The growing digital landscape presents a unique opportunity for women to scale their businesses. There are over 70% of women entrepreneurs in Nigeria who desire this kind of capacity-building programme to improve their businesses, helping them learn how to transition from traditional business methods to one powered by technology, as this will become a differentiator”
While commending the partnership with ANWBN and emphasizing the importance of digital technologies, Mrs. Ambimbola pledged Unity Bank’s commitment to supporting SMEs, adding that the Bank will often pay priority attention to female-led ventures to improve relationships and collaboration with women businesses in Nigeria.
She added: “We are proud of our partnership with ANWBN and the success of this workshop. Empowering women entrepreneurs is key to driving economic growth and ensuring sustainable development. We look forward to more initiatives that support and uplift women in business.”
One of the participants, Mrs. Yetunde Adeniran, a fashion designer, shared her learning experience explaining that with the insights gained here, she has now found more ways of integrating digital technology into many facets of her business. She also highlighted the advantages of Unity Bank’s Yanga Account, which she noted as a crucial tool for small business owners, providing financial support tailored to their specific needs.
In 2022, Unity Bank launched Yanga Account to facilitate financial inclusion for Women. The success of the workshop underscores Unity Bank’s ongoing commitment to supporting female entrepreneurs in Nigeria as the Bank seeks to empower women in business by providing access to valuable resources, financial tools, and educational opportunities that will help them thrive in an increasingly competitive market.
Press Release
Polaris Bank, NCF Take Tree Planting Initiative To Kano
Polaris Bank Limited has taken its tree planting initiative aimed at nationwide land restoration to Kano State working in partnership with the Nigeria Conservation Foundation (NCF).
The commemorative tree planting activity was held at Ajingi Community Reserve, Kunkurawa, Kano on Friday, August 30, 2024.
Recall that the Bank’s tree planting scheme commenced commemorating World Environment Day in June. The 2024 theme focuses on “Land Restoration, Desertification, and Drought Resilience.” The initiative took off at the Tai Solarin University of Education (TASUED), Ijagun, Ijebu Ode, Ogun State.
In his goodwill message, Mahmud Kawu, Polaris Bank’s Divisional Head, North, representing the MD/CEO, expressed the Bank’s unwavering commitment to the tree-planting initiative, highlighting how deeply it aligns with their values and dedication to a greener future.
“At Polaris Bank, sustainability is more than a catchphrase; it’s the core of who we are. We are on a dedicated journey to uphold this ethos with conviction. Our commitment to sustainability is reflected in every aspect of our operations, from promoting responsible banking and empowering communities to tackling environmental challenges and driving economic growth.
We ensure that every decision we make, from investments to day-to-day operations, is rooted in strong Environmental, Social, and Governance principles (ESG)”.
Kawu explained that the partnership between the Bank and the NCF is borne out of its conviction to the Foundation’s dedication to encouraging sustainable economic growth and appreciating the importance of environmental preservation. He also encouraged residents to be key to the scheme to bring about sustainable environmental preservation.
“Today’s tree planting Initiative at Ajingi Community Reserve, Kunkurawa in collaboration with the Nigerian Conservation Foundation (NCF) is a testament to our commitment to environmental sustainability. The NCF, a renowned non-governmental organization dedicated to sustainable development and nature conservation in Nigeria. Polaris Bank shares its dedication to encouraging sustainable economic growth and appreciating the importance of environmental preservation.
This project aligns perfectly with the theme of the World Environment Day and in addition to reducing carbon footprints and enhancing our natural ecosystem, it aims to raise public awareness about the importance of environmental preservation.”
Kawu highlighted the benefits of the Bank’s tree-planting initiative to include the restoration of degraded areas, prevention of soil erosion amongst others.
“The benefits of our tree-planting initiative cannot be overemphasized. It contributes significantly to the restoration of degraded areas, the prevention of soil erosion, and the enhancement of the bio-diversity of the area. Additionally, by absorbing CO2 and helping to regulate the climate, trees play a crucial role in reducing overall carbon footprints.
“In conclusion, the tree-planting project is a testament to Polaris Bank’s dedication to environmental stewardship and community well-being, promoting a greener future through corporate responsibility,” he noted.
Press Release
PRESIDENT TINUBU: NIGERIA’S ECONOMY ON THE PATH OF RECOVERY — WE WILL DO MORE TO MEET THE NEEDS OF CITIZENS
President Bola Tinubu says the nation’s economy is on a gradual but steady path of recovery and assures citizens that his administration will do more to meet their needs.
In a meeting with traditional rulers led by the Sultan of Sokoto, His Eminence, Muhammad Sa’ad Abubakar III, and the Ooni of Ife, His Imperial Majesty, Oba Adeyeye Enitan Ogunwusi, at the State House on Thursday, the President said the plight of citizens remains a deep concern, and will receive more attention.
“Yes, it is true that I asked for this job, and I approached some of you to support me. So, I have no excuse not to do the job with sincerity of purpose and honesty. I have committed myself to it diligently, and I will never look backwards.
“I have accepted the assets and the liabilities of my predecessor. How I will take Nigeria forward should be my concern, and that is my concern.
“I have been extremely busy. The only exercise I have had here is the walk from the residence to this place and then continue with the work.
“Nigeria is hilly, and it is the largest democracy in Africa. No other democracy comes close to us in terms of population on the continent. We cannot blame God for giving us these children, and we have to seek peace and better livelihoods,’’ the President said.
President Tinubu stated that the interventions to bring the government nearer to the people are already yielding results, with the activation of the student loan programme, the consumer credit scheme, and the affirmation of fiscal autonomy for local government councils.
He said the Ministry of Finance will continue to ensure that funds go to the grassroots for human and infrastructural development.
“Today, the Bank of Agriculture is empty. We have to reactivate it. If they are not talking about flooding, they are talking of banditry. We have to start all over again. Yes, infrastructural decay is there.
“The Lagos-Calabar coastal road is not being done without studies. It is an economic energizer. From it, we can create infrastructure along the route to develop wind energy and generate power, and we can expand our irrigation network.
“The economic viability of infrastructure has to be studied before we embark on projects. How many dams are there on the corridors of Sokoto- Badagry? From there, we can energize electricity. We can do irrigation and additional farms.
“Even if it is two million hectares of arable land, you can create opportunities for farmers on a small scale. Then you have to find capital for them.
“Nigeria is on the path of recovery. You have heard it from the Minister of Finance, Mr. Wale Edun. We are not afraid of protests. Our concern is the ordinary people, and the damages that will be done. Till today, I cannot forget the brand new 60 and 100 seater buses, down there in Lagos that were burnt down, and we are now complaining of transportation. That is the problem. That is why I must say thank you for talking to the citizens,’’ the President told the traditional rulers.
The President also said security was getting more attention and will be enhanced.
“Security is getting better, but we cannot take our eyes off the camera because it takes one accident for things to flare up. We are managing it.
“We have created instruments to support the students so that they get education, consumer credit to expand the economy, to improve the purchasing power of the people in order to rejuvenate the economy within a short period of time. We are still recalibrating our oil usage,’’ the President stated.
President Tinubu said he will continue to explain the economic reforms and projected benefits to the nation, adding that he remains open to dialogue for the development of the country.
President Tinubu urged the royal fathers to reach out to citizens on the genuine intentions of the government to deliver on its promises of Renewed Hope.
“Now, we are sending money to the local governments. I addressed the governors today on that issue. I have been distributing fertilizer, rice, and other items to support the recovery of citizens. I assure you, Nigerians, we are looking at the light at the end of the tunnel. I can assure you, this economy will be revived, will survive, and prosper,’’ the President emphasized.
In his remarks, the Sultan of Sokoto said: “I believe that this brief meeting will clear some issues that many people have in their minds. At our meeting on Monday, we had a very open discussion on all issues affecting the nation. We are the ones who will tell you the truth about what is happening in our various communities.’’
The royal father said an executive council meeting was held on Monday, and the Council, composed of all State Chairmen of the 36 States and the FCT, met to deliberate on the economy.
The Ooni of Ife thanked the President for inviting the National Security Adviser, Mallam Nuhu Ribadu; the Minister of Finance and Coordinating of Minister of the Economy, Mr. Wale Edun, the Minister of Budget and Economic Planning, Mr. Abubakar Atiku Bagudu, and the GCEO of NNPCL, Mele Kyari, to brief the traditional rulers on the state of the economy.
“We heard from the GCEO of NNPCL. They are the ones that propel our economy. We have heard from the Minister of Finance. We also heard from the Minister of Budget and the NSA. We want to encourage you, Mr. President, we will all get back to our various communities and let our people know because none of us locks our palaces,’’ the Monarch added.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
July 25, 2024
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