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.
Tradewyse Concepts Limited (TCL), Nigeria-based technology solution provider has launched a product called “vetandpay” to address the issues of trust and fraud in online business transactions in the country.
Dr Kalu Ibe, founder and chief executive officer, Tradewyse Concepts Limited
Dr Kalu Ibe, founder and chief executive officer, Tradewyse Concepts Limited, stated that the software was proudly developed by a team of Nigerians.
Speaking at the product dedication ceremony in Abuja, Ibe explained that the app aims to reduce corruption by restoring trust and integrity. He added that it would inspire confidence in both business and the broader transactional environment in Nigeria.
“Today, I present vetandpay.ng, powered by Vetandpay Technologies Ltd, Africa’s foremost escrow company, a subsidiary of TCL,” Ibe said.
“What started as a spark two years ago is now shining brightly over Nigeria’s transactional space, bringing healing with its rays.”
He outlined the various escrow services offered, including auto purchase escrow, procurement escrow, service-based escrow, e-commerce escrow, and property escrow, with more services expected to be added.
Ibe emphasised that the service is available to Nigerians both at home and abroad, promising zero losses in all business transactions when using vetandpay.
Through its Corporate Social Responsibility (CSR) programme, TCL plans to initiate a comprehensive tech training programme for teenagers in Nigerian schools. Ibe highlighted that the initiative aims to equip young people with technological skills, preparing them to enter the digital economy and drive innovation.
Ntufam Ugbo, project director, commented that vetandpay is transforming the business landscape in Nigeria by building trust between buyers and sellers.
“What vetandpay does is act as a middleman between the buyer and the seller,” she said.
Mrs Rachel Samuel, head of Customer Service at vetandpay, described the platform as a secure payment solution designed to eliminate fraud in online transactions.
“Our basic goal is to address the issue of receiving something different from what was ordered,” she explained.
Referring to a report by the Federal Trade Commission, Samuel pointed out that consumers lost over 8.8 billion dollars to fraud in 2022, a 30 per cent increase from the previous year. She noted that with vetandpay, both parties to a business transaction could have peace of mind and zero losses.
She encouraged Nigerians to embrace the services provided by the platform by downloading the vetandpay app and using the technology to secure their transactions.
‘‘Today marks the beginning of a new era in secure online transactions. Whether you are a business owner, freelancer, or everyday buyer, vetandpay is here to protect your hard-earned money,” Samuel concluded.
Nigeria has approached the World Bank for a fresh $10.50m loan to enhance the Central Bank of Nigeria’s (CBN) technical capacity and modernise the country’s domestic payment infrastructure.
Olayemi Cardoso, Governor, Central Bank of Nigeria
According to information on the World Bank website on Thursday, the proposed CBN Technical Assistance Facility seeks to support integrating innovative technologies and data science into the CBN’s supervisory processes.
This is expected to help the apex bank tackle long-standing and emerging challenges in Nigeria’s rapidly evolving financial landscape while improving the domestic payment infrastructure for remittances.
The project, currently at the concept review stage, will focus on three key areas. Firstly, it aims to strengthen the CBN’s institutional capacity to keep pace with technological advancements through a robust governance framework, expert advisory support, peer-to-peer central bank exchanges, and modernisation of the CBN’s internal processes to align with the digital era.
Secondly, it will enhance the CBN’s supervisory capacity through technology and data improvements. This involves funding modern technical solutions, including Supervisory Technology systems, to improve data accuracy, operational efficiency, and risk-based supervision.
Thirdly, it aims to modernise domestic payment systems for remittances to improve their safety and reliability.
It will explore innovative methods to attract informal remittance flows into formal channels while conducting annual surveys on remittance households and fostering peer-to-peer learning for knowledge exchange.
According to the World Bank, the objective of this project is “to strengthen technology-enabled, data-driven, risk-based supervision at the CBN and improve domestic payment infrastructure for remittances in Nigeria.”
The project aligns with the government’s pursuit of a cashless economy and the increasing adoption of digital financial services in Nigeria.
The scheme, which has a commitment amount of $10.50m, is scheduled for board presentation approval on June 12, 2025. The implementing agency is the Central Bank of Nigeria.
Sterling Bank has called for the cancellation of bank transfer fees by major banks, announcing it will no longer take any money for itself for any local online transactions by its customers.
The announcement, made on April 1st, initially sparked widespread arguments, with many assuming it was a marketing prank tied to April Fools’ Day.
However, Sterling Bank, in a statement, has confirmed that it is not a stunt, that the zero-transfer-fee policy was real, and effective immediately.
With this move, Sterling becomes the first major Nigerian bank to take a definitive stand against the long-standing practice of charging customers for everyday digital transfers, an issue that has grown increasingly contentious as digital banking adoption deepens.
“We believe access to your own money shouldn’t come with a penalty,” said Obinna Ukachukwu, growth executive leading the Consumer and Business Banking Directorate, Sterling Bank
“This is more than a financial decision, it’s a values-based one. It reflects our commitment to making banking fair, inclusive, and truly customer focused.
“We’re not yet the biggest bank in Nigeria, but we’ve been the boldest,” Ukachukwu added.
“Sterling fearlessly believes in the future of Nigeria, and this is us backing Nigerians with more than words,” it sated.
Under the new policy, Sterling customers will enjoy free transfers for all local transactions conducted via the bank’s mobile app. This translates into significant savings, particularly for individuals and new small business owners who make frequent daily transfers.
The bank’s latest move has been met with widespread public approval, sparking positive reactions across social media and placing pressure on industry peers to follow suit.
We’re proud to lead this change,” Ukachukwu added. “We hope it inspires others to think differently about what customers truly need from their banks, not just in services, but in values.”
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