E-Financial
Polaris Bank and Amtis Skills Place Partner to Empower Young Designers
In its determination to produce the next generation of young designers who will go on to capture the imagination of the world in fashion, Polaris Bank partnered, with Amtis Skills Place, a body dedicated to producing contemporary vocational skills to young Nigerians to identify, train and mentor young designers through the 2024 Amtis Fashion Competition.
Polaris Bank
Since its inception in 2015, Amtis Skills Place has been committed to equipping young Nigerians with vocational skills, bridging the gap between traditional education and the evolving job market.
This year’s event, proudly sponsored by Polaris Bank brought together emerging designers aged 18 to 35 gathered to design garments inspired by vintage styles.
Teams include; fashion designers, makeup artists, and models working collaboratively.
Participants were judged on creativity, craftsmanship, teamwork, and adherence to the vintage theme, celebrating classic fashion eras; while empowering the next generation of entrepreneurs.
The competition, organized by Amtis Skills Place, culminated in an awards ceremony where three finalists emerged as winners. Wuraola Robert clinched the top prize of ₦500,000, while the second and third-place winners were awarded ₦300,000 and ₦200,000, respectively.
In an address to the participants delivered on behalf of Polaris Bank’s Managing Director/CEO, Kayode Lawal remarked: “Polaris Bank ensures that you achieve your dreams in the right perspective, which is why we partnered with Amtis Vintage Fashion.
“We can assure you that there will be bigger things in the coming year: a more expanded event, more content, more giveaways, and greater empowerment for the business sector.”
Omotunde Adebusola, Managing Director of Amtis Skills Place, commended Polaris Bank for their pivotal role in supporting entrepreneurship in the country especially, the competition saying: “We are deeply grateful to Polaris Bank for believing in our vision to nurture young talents. Their partnership made this year’s event a resounding success, and we look forward to even greater collaborations in the future.”
The overall winner, Wuraola Robert, expressed her gratitude after receiving the grand prize saying: “I am overwhelmed with joy and gratitude to Polaris Bank for this incredible opportunity.
“This competition has transformed my career, and I’m excited to invest this prize into growing my brand.”
The Amtis Vintage Fashion Competition exemplifies the mission of Polaris Bank and Amtis Skills Place by empowering participants to translate their creativity into viable careers.
Polaris Bank was adjudged Nigeria’s Best Bank for MSMEs of the Year in Business Day’s Banks and Other Financial Institutions (BAFI) Awards & Nigeria’s Best Bank in MSME Lending in the maiden MSME Awards organized by Nairametrics & The Economic Forum.
By 8 am on July 9, GTCO Holdings is set to commence trading on the London Stock Exchange.
As the group is set to list all its shares on the London Stock Exchange, becoming the first Nigerian banking entity to do so.
This is as the group launches a public offer of new ordinary shares to raise approximately $100 million on the London Stock Exchange.
The equity offering, which is an accelerated bookbuild and managed by Citigroup, began on July 2 and is to last until July 31.
On July 31, the group announced that it would cancel the listing of its Global Depositary Receipts (GDRs) on the UK Financial Conduct Authority’s (FCA) Official List.
It will also cancel their admission to trading on the London Stock Exchange (LSE)’s main market.
In place of the GDRs, the group will list all its ordinary shares directly.
aims to admit all its shares to the equity shares category for international commercial companies under a secondary listing on the FCA’s Official List.
The shares will also begin trading on the LSE’s main market for listed securities.
According to a regulatory filing on the London Stock Exchange, the net proceeds from the offering will be used to recapitalize GTBank Nigeria.
Based on the prevailing exchange rate of N1,540 to the US dollar, the targeted $100 million equates to approximately N154 billion.
This capital raise is expected to position the Group to fully meet the N500 billion minimum paid-up share capital required by regulators for banks with international licenses.
As of now, both Zenith Bank and Access Holdings have already met—and exceeded—this threshold.
The National Insurance Commission (NAICOM) has handed over new licenses to SanlamAllianz Life and General Insurance Nigeria Ltd at brief ceremony held in Abuja.
Olusegun Omosehin, commissioner for Insurance emphasized the Commission’s commitment to supporting the growth of insurance entities in the country, while ensuring strict compliance with regulatory requirements. He urged the companies to prioritize good corporate governance, stability, and timely claims settlement processes.
The Commissioner reiterated NAICOM’s dedication to removing unnecessary bottlenecks and improving the insurance industry’s overall performance. He expressed confidence that the merger would enhance the companies’ capabilities and contribute to the industry’s growth.
SanlamAllianz recently launched its operations in Nigeria, marking a significant step in the company’s Pan-African expansion.
The launch follows the merger of Sanlam and Allianz’s Nigerian operations, creating a new entity named SanlamAllianz Nigeria.
This joint venture aims to transform the Nigerian insurance landscape by offering enhanced customer experiences, innovative solutions, and improved financial inclusion.
World Bank has approved an additional $65 million loan for Nigeria to support the Sustainable Procurement, Environmental, and Social Standards Enhancement (SPESSE) project, increasing the total financing for the initiative to $145 million.
The approval was granted on June 24, 2025, according to details posted on the World Bank’s website, which also indicates that the project’s status has moved to “active” following the approval.
The SPESSE project, initially launched with an $80 million loan approved in February 2020, aims to strengthen institutional capacity for managing procurement, environmental, and social standards in both the public and private sectors across Nigeria.
The World Bank described the project’s development objective as the establishment of sustainable capacity in these areas.
This latest approval is part of a broader wave of financing expected from the World Bank to Nigeria in 2025.
The bank is scheduled to approve loans totalling $1.61 billion over the coming months, supporting various development initiatives.
Among these is a $300 million loan for the ‘Solutions for the Internally Displaced and Host Communities Project,’ expected to be finalised by the end of July.
This project aims to improve access to basic services and economic opportunities for internally displaced persons (IDPs) and host communities in selected local government areas in northern Nigeria.
In September, the World Bank plans to approve four additional loans: a $10.5 million facility to support technical assistance for the Central Bank of Nigeria, a $300 million Health Security Program targeting Western and Central Africa (Nigeria – Phase IV), a $500 million project for building resilient digital infrastructure (BRIDGE), and a $500 million loan under the Nigeria Sustainable Agricultural Value-Chains for Growth project aimed at promoting sustainable growth and job creation within key agricultural sectors.
Earlier in March 2025, the bank approved three financing requests amounting to $1.13 billion.
These funds are directed towards projects focused on enhancing quality education, boosting household and community resilience, and improving nutrition.
Among the approved loans were $80 million for the Accelerating Nutrition Results in Nigeria 2.0 project, $552 million for the HOPE for Quality Basic Education for All programme, and $500 million for the Community Action for Resilience and Economic Stimulus Programme.
In February, the Nigerian government announced expectations of new World Bank loans totalling $2.2 billion for six different projects in 2025. This follows a $1.5 billion loan disbursed in 2024 aimed at strengthening Nigeria’s economic stability and resource mobilisation efforts.
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