… Distributes school essentials to 1,000 students across 10 public schools in 5 states

Polaris Bank, in partnership with key stakeholders, has reaffirmed its commitment to combating the alarming rate of out-of-school children in Nigeria.

Through its targeted interventions, the Bank has ensured continuous education for over 15,000 students, providing them with the opportunity to learn, thrive, and contribute to a better future.

While the initiative primarily focuses on empowering the girl child, male students in the targeted schools were not left out reflecting the project’s inclusive approach.

Polaris Bank’s collaboration with strategic partners has further strengthened its efforts to combat the scourge of out-of-school children in Nigeria. Since 2020, these collaborative efforts have ensured continuous education for 16,000 students, showcasing the transformative impact of teamwork in fostering positive societal change.

The initiative which includes empowering young learners with brain training techniques and emotional intelligence education alongside making and distributing school essentials (bags, uniforms, sandals, books, and pens) aligns with the United Nations (UN) Sustainable Development Goals (SDG) 4 which ensures inclusive and equitable quality education for all, is targeted at Nigeria’s most vulnerable communities, where over 20 million children lack access to basic education, according to UNESCO.

This phase of the initiative targeted schools across diverse regions of the country, providing needed school essentials such as; school bags, sandals, uniforms, books, and pens to students. Research has shown that the lack of one or two of these basic school essentials has been a significant barrier to school enrolment, contributing to the alarming number of the scourge of out-of-school children in Nigeria.

Polaris Bank’s Managing Director/CEO, Kayode Lawal speaking on the education initiative charged students to embrace opportunities that education offers saying that the intervention is in line with the Bank’s ongoing sustainability efforts aimed at reducing Nigeria’s current out-of-school children population and increasing access to quality education, especially for the girl-child.

As part of its broader mission, Polaris Bank between November and December 2024 visited eight schools across various states, including Opebi Junior Grammar School in Lagos, National High School Arondizuogu; Iheme Memorial Secondary School; Akokwa High School in Imo State, Government Girls Secondary School, Kundila in Kano, Fortune Secondary School in Kogi, and Government Day Junior Secondary School, Maitama in Abuja, with that of Gbaja Junior and Secondary School, both in Surulere, Lagos moved to mid January 2025.

The program aims to support 50,000 students by 2028, building on its current impact of 16,000 students across nine states.

Beyond the provision of school essentials to indigent students of public schools, the initiative also embeds the Brighter Minds Programme, a transformative project bringing innovative brain-training techniques and emotional intelligence education to young learners.

This program has achieved remarkable milestones, expanding access to a holistic learning approach that builds resilience, focus, and confidence in students.

Each pilot group represents a new step in the journey of empowering young minds with life skills, made possible by the unwavering support of Polaris Bank, partners like EvolveCSR, schools, and parents.

Complementing this educational intervention, is the Inspire Teachers Training Program, a 3-day value-based education initiative aimed at equipping teachers with critical soft skills and alternative teaching methodologies.

This program explores topics such as heartful teaching, facilitation techniques, heterogeneous learning strategies, effective communication, heart-centered education, self-connection, and moral skill development.

Teachers who complete the program receive certificates and are encouraged to share their knowledge by training peers, fostering a ripple effect that promotes a soft-skills-driven approach to education.

While the initiative has made significant strides, the final batch of schools to be visited—Gbaja Girls Junior and High Secondary School, Surulere, Lagos — has been postponed to January 2025. This adjustment highlights the Bank’s commitment to ensuring no child is left behind in its drive to provide access to quality education.

Polaris Bank remains resolute in its mission to bridge educational gaps, ensuring a brighter future for Nigeria’s youth through impactful and sustained interventions.

By empowering students and supporting educators, the Bank continues to lead efforts to transform the lives of Nigeria’s future leaders.

…cements capital raise with full regulatory approval

Sterling Financial Holdings Company PLC has achieved another milestone with the approval of the Central Bank of Nigeria (CBN) recognising an additional ₦75 billion in its capital raise.

This approval represents the final leg of the

capital injection that was achieved through a private placement in September 2024.

Building on the private placement’s success, Sterling launched a Rights Issue in October

2024, structured to provide existing shareholders the exclusive opportunity to deepen their stakes in the company and share in its growth story.

The Rights Issue received significant interest and participation, highlighting the confidence and trust the company has cultivated among its shareholders over the years. Regulatory approval for the process is currently underway, marking another significant step in the recapitalisation journey.

The public is eagerly awaiting Sterling’s Public Offer, which will present an exciting

opportunity for individuals to invest in the company. It is anticipated that the

recapitalisation process will be completed with a Public Offer early next year, allowing wider participation from the public and further strengthening its commitment to shared value creation.

Group Chief Executive, Yemi Odubiyi described the capital injection and the approvalas a validation of the company’s strategic direction and operational excellence. “This milestone reflects the confidence of regulators and stakeholders in our vision to redefine financial services in Nigeria and beyond. Our enhanced capital base empowers us to pursue transformative opportunities, deliver sustainable value to all stakeholders and drive impact across critical sectors of the Nigerian economy,” he stated.

Odubiyi emphasised the company’s evolution from its origins as a merchant bank to its current status as a diversified financial holdings company. Powered by cutting-edge technology and a flexible operational model, the company has consistently demonstrated its ability to navigate market difficulties and seize growth opportunities.

Reflecting on Sterling’s accomplishments, Odubiyi acknowledged the instrumental role of stakeholders, including regulators, investors, and customers. “We are grateful for the unwavering support and trust in our strategy, which has been pivotal to our journey. This recapitalisation strengthens our ability to unlock new opportunities, create value, and drive economic growth,” he added.

The capital boost follows a year marked by robust financial performance and significant strategic achievements for Sterling. As at the last week in December 2024, Sterling

witnessed a 19% surge in stock price, contributing to a remarkable three-year growth of 287.42%. In the first half of 2024, the company recorded a 51% increase in profit before tax compared to the same period in 2023 and achieved a 20% growth in total assets.

These results demonstrate Sterling’s resilience and ability to deliver superior outcomes despite the complexities of Nigeria’s economic landscape, marked by high inflation and currency volatility.

As Sterling looks ahead, its focus remains firmly on innovation, sustainability, and value creation. With a fortified capital structure, the company is well-positioned to execute its ambitious growth plans, deepen its impact across critical sectors, and set new benchmarks for excellence in Nigeria’s financial services industry. This latest milestone marks a transformative chapter for Sterling Financial Holdings Company PLC as it continues to redefine the future of financial services in Nigeria and beyond.

Polaris Bank over the weekend, added yet another feather to its cap by winning Sustainability, Enterprise, and Responsibility Awards (SERAS), Africa’s most renowned and prestigious Sustainability/Corporate Social Responsibility (CSR) recognition, for its consistent and impactful critical community interventions across Nigeria over the years.

At the 18th edition of the SERAS Awards, held at the Oriental Hotel, Lekki, Lagos, recognition came the way of Polaris Bank in what the organisers described as “the Banks unwavering commitment to sustainable development and impactful community interventions across Nigeria”.

The SERAS Awards, widely regarded as Africa’s gold standard in Sustainability and CSR, celebrates organizations that exemplify innovation, impact, and excellence in advancing sustainable development. The awards spotlight large corporations, SMEs, and nonprofits that champion solutions with lasting societal and environmental benefits.

This year’s ceremony brought together an elite gathering of business leaders, global sustainability experts, policymakers, and CEOs dedicated to shaping Africa’s sustainable future. For Polaris Bank, the recognition reaffirmed its leadership in driving transformative change through its strategic Sustainability and CSR interventions.

Polaris Bank’s extensive portfolio of Sustainability, ESG and CSR initiatives which earns it” “Best in Rural Population Integration” award at the SERAs, underscores its commitment to improving lives and fostering sustainable growth in rural and underserved communities. Over the years, the Bank has implemented critical interventions across Nigeria, ranging from providing basic infrastructure to supporting vulnerable groups. Some of its notable achievements include:
Sponsoring the Acquisition and Planting of 2,000 economic trees across communities in Nigeria…e.g Ajingi community in Kano State.

Donation of equipment and renovation of the Ibeju-Lekki Skill Acquisition Centre Installation of boreholes in key but underserved communities to provide access to clean water in rural areas.

Delivering educational resources/essentials —including libraries, sandals, bags, uniforms, books, and pens—to over 15,000 indigent students across public secondary schools in Nigeria, ensuring their continuous education with many in remote communities.

Providing over a decade free breast cancer screening support to some 20,000 women and retreat/experience sharing for survivors that has reduced mortality rate in Nigeria.

Establishing hospitals, and reconstruction/rehabilitation centers for victims of sexual violence, and vocational centers for women.
Donating ICT laboratory to IWD Skills Acquisition Center and promoting financial literacy programs in schools.
Launching medical outreach programs and supporting Internally Displaced Persons (IDPs) through significant donations.

These interventions have not only improved living standards, but have also stemmed rural-to-urban migration by making the communities more attractive, conducive and habitable and self-reliant.
Polaris Bank recently demonstrated its commitment to community resilience with the reopening of its Sagamu branch, which was destroyed during the cash crunch riots following the Naira redesign policy. Following appeal from stakeholders within the community, the Bank’s management approved the complete reconstruction and re-equipping of the branch The reopening marked a turning point for the Sagamu community, restoring access to critical banking services and underscoring Polaris Bank’s role as a trusted partner in economic recovery.

Speaking on the award, Polaris Bank’s Managing Director, Kayode Lawal, highlighted the Bank’s dedication to sustainability and social impact. “We thank SERAs for the recognition of our bank’s strategic intervention and consistent investment across communities on project that impact positively on the people and the environment”.

In Polaris Bank, Kayode says, “Sustainability is not just a cliché, and it is not a destination, but a journey. Our involvement in community development projects is something borne out of our deliberate effort to impact the citizens through enhanced socio-economic interventions that reduces the impact of climate change on our environment, as it affects the economy and people at large.” he stated.

Participants at the award ceremony leveraged the classy evening, “to connect with like-minded professionals and organizations championing sustainable business practices at an event that celebrated Africa’s sustainability leaders and reaffirmed the shared vision of driving positive, lasting change across the continent.

As a trailblazer in Sustainability and CSR, Polaris Bank remains steadfast in its mission to uplift communities, foster economic growth, and champion innovative solutions that address pressing societal challenges.