E-Financial
Polaris Bank Champions Accelerating Action at International Women’s Day Seminar

Polaris Bank has reaffirmed its commitment to gender equality and women’s empowerment through its International Women’s Day (IWD) Seminar, themed: “Accelerating Action: Breaking Barriers & Creating Equal Opportunities”.
The event provided a platform for thought leaders, professionals, and advocates to emphasize the urgent need to accelerate action towards gender equality by breaking barriers and creating equal opportunities for women across all sectors.
Speaking at the event, Polaris Bank’s Executive Director, Mrs. Abimbola Ozomah conveyed greetings from the Managing Director/CEO, Management, and Staff of the Bank, highlighting the importance of the day. “International Women’s Day is a moment to recognize the remarkable achievements, contributions, and struggles of women throughout history and across all sectors of society. However, it is also a call to action. This year’s theme, ‘Accelerate Action,’ urges us to take swift and decisive steps toward achieving gender equality by breaking down systemic barriers and biases that hinder women’s progress.”
Reinforcing Polaris Bank’s commitment to gender inclusivity, Mrs. Ozomah, stated, “At Polaris Bank, we believe that real progress happens when organizations go beyond conversation and actively implement policies that support women’s growth.
“Empowering women and ensuring their inclusion in every sphere of society, is at the core of our values. This seminar is part of our broader mission to create an inclusive and equitable society for all.”
The seminar featured an insightful conversation with industry experts who shared practical strategies for overcoming systemic barriers, fostering leadership opportunities, and enhancing financial inclusion for women.
In her experience sharing session, Ayaba M. Ayo-Joseph, a Non-Executive Director with Polaris Bank, advocated that women should be supportive of each other, stating, “We as women should help each other and not bring each other down. These efforts should not be restricted to just International Women’s Day or a day just in March. This should be practiced all the time.
She also shared 8 Ways to Accelerate Action for women’s empowerment.
Economic independence for women, stepping out into leadership roles as we need more women in leadership positions, advocating for gender-friendly workspaces, being a mentor to uplift others, practicing self-care, creating safe spaces for women, collaborating with other women to build strength in unity, and being digitally savvy to leverage technology for growth.
She concluded her session with a powerful reminder to womenfolk saying: “The change we wish to see starts with us. Let’s keep pushing the boundaries and support each other as we go.”
Mrs. Subulade Giwa-Amu, a Non-Executive Director, Polaris Bank, stated the role of character and purpose in achieving success, saying, “Success is built on character, resilience, and purpose. Challenges will arise, but integrity is the key to overcoming them.”
She also highlighted the importance of financial independence and self-investment, adding, “Financial independence starts with vision and focus. Work-life balance is essential, but prioritization is crucial at different stages of life.”
She further advised women to continuously invest in themselves, saying, “Invest in yourself, continuous learning and personal growth are non-negotiable for success.” Speaking on women’s empowerment, she urged collaboration over competition: “There is room for everyone at the top. Women must support and uplift each other, rather than compete unnecessarily.”
Tolulope Makinwa-Adeniyi, Executive Director, Muazu Africa, reiterated the power of relationships and personal development: “Relationships are invaluable. Express admiration, nurture connections, and build a network that will open doors for you.” She also encouraged personal growth, saying, “Do the hard things, growth comes from embracing challenges, stepping out of comfort zones, and pushing beyond limitations.”
She further stressed the importance of Mastery, stating, “Mastery is power. Stay ahead by continuously upgrading your skills, embracing new technologies, and refining your expertise”. Calling for a mindset shift, especially amongst the school girls from the five selected schools in Lagos state present at the event. She remarked, “The ‘Cinderella Complex’ must end—women don’t need to be saved; they need to take charge of their own destinies.”
Ndidi Ukaonu, director of Parthian Partners, called for action over conversation: “It’s time to move beyond discussions about gender equality and start implementing real change.”
She encouraged individuals to define their impact and take ownership of their success, challenging them to ask, “What am I known for? What legacy am I building? How am I contributing to change?”
She also reinforced the need for confidence and taking initiative, saying, “Stop waiting for permission to be great—own your power and walk in it.” Closing with a rallying call, she urged participants to, “Accelerate action, break barriers, and create opportunities. The world is waiting for you to step up. The time is now”.
Polaris Bank remains steadfast in its mission to drive change, ensuring that women are not only heard but also empowered to lead.
E-Financial
NDIC Begins Final Settlements to Creditors of Liquidated Premier Bank

Nigeria Deposit Insurance Corporation (NDIC) has begun the final phase of liquidation for the defunct Premier Commercial Bank, initiating the payment of liquidation dividends to verified creditors, nearly 25 years after the bank’s closure.
Premier Commercial Bank had its operating license revoked by the Central Bank of Nigeria (CBN) on December 20, 2000, following findings of financial instability and regulatory non-compliance.
Since then, the NDIC has overseen the bank’s liquidation process under a winding-up order from the Federal High Court, which designated the corporation as the official liquidator.
In a public announcement, the NDIC invited all eligible creditors to visit any of its zonal offices between June 2 and June 27, 2025, to verify and claim their entitlements.
This move marks a critical milestone in the final settlement of claims related to the bank’s collapse.
To facilitate the verification process, creditors are required to present proof of deposit or shareholding, such as a passbook, chequebook, term deposit certificate, or bank statement.
Additionally, valid identification documents must be submitted, including a driver’s license, international passport, national identity card, NIN slip/card, voter’s card, or a formal identification letter from a traditional ruler or local government chairman.
The NDIC assured the public that the ongoing settlement is part of a broader effort to bring closure to longstanding claims resulting from Premier Commercial Bank’s liquidation. The process, according to the corporation, has been designed to ensure efficient disbursement to all verified stakeholders.
Premier Commercial Bank is one of 53 deposit money banks whose licenses were revoked by the CBN between 1994 and 2018 due to various violations and signs of financial distress.
These closures were followed by legal procedures appointing the NDIC to manage asset recoveries and creditor settlements.
By initiating this final phase of payment, the NDIC is reaffirming its commitment to financial system stability and depositor protection while calling on all affected individuals and institutions to complete verification processes promptly to receive their due compensation.
E-Financial
SEC Directs Companies to Honour Unclaimed Dividend Requests

Securities and Exchange Commission (SEC) has directed all public companies and Registrars to stop treating unclaimed dividends older than 12 years as “statute-barred”, especially those dating from before the enactment of the Finance Act 2020.
The directive reaffirms the provisions of Section 60 of the Finance Act, which mandates that dividends unclaimed for over six years be transferred to the Unclaimed Funds Trust Fund (UFTF), where they remain accessible to shareholders pending claims.
The Commission said that shareholders are entitled to continue to claim their dividends that are not statute-barred (that is not above 12 years) before December 31, 2020 “when the Finance Act 2020, came into effect.”
According to the SEC in a Circular, “The attention of the Securities and Exchange Commission has been drawn to the fact that paying companies and their Registrars have continued to treat unclaimed dividends of public companies that are older than 12 years as being “statute-barred” without recourse to the provisions of the Finance Act 2020.
“In response to various inquiries on the subject, the Commission hereby clarifies as follows: The import of the provisions of Section 60 of the Finance Act 2020 (December 31, 2020), is that, where dividends declared by a public company quoted on the Nigerian Exchange Limited remained unclaimed for a period of six years or more, such dividends are expected to be transferred to the Unclaimed Funds Trust Fund (UFTF) to be held in trust and managed pending when the shareholder presents a claim for such unclaimed dividends.
“Pending the setting up and operationalisation of the UFTF by the Federal Government, pursuant to its powers under Sections 3 (4) (e) and 93 of the Investments and Securities Act 2025, the Commission hereby directs public companies and their Registrars to continue to honour all requests by shareholders for the payment of unclaimed dividends as described above, with effect from December 31, 2020”.
The Commission therefore directed public companies and Registrars to effect immediate compliance with the directive and submit periodic reports on same in the manner prescribed in the Commission’s Rules and Regulations.
E-Financial
FIRS Launches Revised SOP to Streamline Tax Payment

Federal Inland Revenue Service (FIRS) has revised its Standard Operating Procedure (SOP) as part of efforts to improve consistency, transparency, and service delivery in tax administration across the country.
According to a statement on Monday in Abuja by Mr. Collins Omokaro, Special Adviser on Communication Strategy and Advocacy to the Executive Chairman of FIRS, the revised SOP offers a unified framework for core tax processes including registration, payment, audit, and enforcement.
“This is about people, experience, and impact. It’s a step toward a tax system that supports voluntary compliance and national development,” Omokaro said.
He explained that while FIRS field offices have long operated with good intentions, inconsistent methods across different locations often created confusion for taxpayers.
The revised SOP, he said, is designed to eliminate such disparities by providing a single, clear roadmap for operations in all of the Service’s over 300 offices nationwide.
More than just a procedural manual, the new SOP is described as a statement of institutional direction, reflecting values that define the future of the Service.
Omokaro quoted Dr. Zacch Adedeji, executive chairman of FIRS, as saying that “This SOP is not just a technical document—it is a declaration of who we are becoming as a service. It reflects our commitment to transparency and service to the Nigerian people.”
The SOP update is one component of a broader reform agenda underway at FIRS, which aims to transform the agency into a fully service-oriented institution.
The changes are also aligned with the ongoing digital transformation within the agency, which is intended to harmonize human and technological systems for faster, more reliable, and taxpayer-friendly service delivery.
Internally, the SOP is expected to enhance operational efficiency and provide a foundation for improved staff training, clearer guidance, and stronger evaluation systems. Omokaro noted that every FIRS employee is expected to study, implement, and embody the procedures outlined in the new document.
“With this rollout, every FIRS staff member has a clear mandate: study it, apply it, and embody it. That’s how we’ll earn the trust of Nigerians,” he said.
The SOP reform is being introduced as part of the Service’s broader mission to reposition itself as a modern tax authority grounded in accountability, consistency, and a shared sense of national purpose.
The move comes as the FIRS continues to modernize its processes, improve tax collection efficiency, and foster a culture of voluntary compliance—all aimed at strengthening revenue mobilization to support Nigeria’s development agenda.
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