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Polaris Bank wins Nigeria’s Best Digital Bank of the Year Award, third time in a row

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… scoops ‘Best MSME Bank Of The Year’ prize also

Lagos, Nigeria: October 30, 2023: Polaris Bank shone brightest over the weekend as its bespoke home-grown digital bank, VULTe won for the third time, Nigeria’s ‘Best Digital Bank of the Year’ prize at the prestigious BusinessDAY’s Banks And Other Financial Institutions (BAFI) Awards.

Polaris Bank also scooped ‘Best MSME Bank of the Year’ award at the same event.

VULTe, is a digital banking platform designed to enable customers to consummate every banking transactions – from account opening, through requesting for certain categories of loans – to generating bank statements. It also connects the customer to discover lifestyle trends and social events. It is an all-in-one solution that is created to offer the most convenience for customers and built to provide solutions to everyday challenges of accessing financial services and more.

In the last 12 months, VULTe which hitherto caters more to individual customers, now has enhanced capabilities to render seamless self-services to SMEs, High Net worth, and retail customers. The over 40million MSME operators in Nigeria could now use Vulte to access collateral-free loans for personal and business purposes; where eligible entrepreneurs and SME operators could apply and get up to N20million in a space of 5 minutes without visiting the Bank in person.

While presenting the Best Digital Bank award to Polaris Bank, BAFI Awards organisers disclosed that the awards selection/review committee voted Polaris Bank’s VULTe the winner having outperformed its industry peers, across eight metrics for consideration.

The metrics include; strength of strategy for attracting and gaining digital customers, accelerated user engagement, success in getting clients to use digital offerings, growth of digital customers, and platform security.

Other metrics are the breadth of product offerings for retail and corporate clients, evidence of tangible benefits gained from digital initiatives and web/mobile site design, intuitiveness and functionality.

At the same BAFI Awards,Polaris Bank was declared ‘MSME Bank of the Year’ making it a back-to-back win for the Bank (haven won same award in 2022) in what the organisers described as the Bank’s expansive impact on MSME operators across Nigeria.

In the last Nine Months, Polaris Bank had committed billions in loans to expand operations of MSME operating in Nigeria.

Polaris Bank had in May 2022 launched a N1billion fund for MSMEs in partnership with Lagos State Employment Trust Fund (LSETF) in what the Bank explained was aimed at providing the much-needed funding to create wealth and empower entrepreneurs and players within the MSME space in Nigeria, starting with Lagos.

Prior to the launch of the N1billion MSME Fund, Polaris Bank had committed, and indeed, continued to provide multibillion financing to MSME operators across sectors, health inclusive among other incentives, like moratorium on facilities granted to cushion businesses following the impact of the COVID-19 pandemic on businesses.

Receiving the award on behalf of the Bank, Dele Adeyinka, Retail & Digital Banking Divisional Head, while expressing the Bank’s appreciation to BusinessDay for the recognition, dedicated the
awards to the Bank’s customers and stakeholders for making VULTe what it is today and promised that “Polaris Bank will continue to impact MSME digitally through innovative banking products, affordable finance and creative services that add significant value for the greater good of all stakeholders’.

Polaris Bank is digital-forward Bank dedicated to forging a customer-focused future through innovative partnerships that reshape both businesses and communities.

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Cryptotimes Africa and 4 Other Crypto-Focused Publications shaping the narrative of cryptocurrency in Africa

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It’s no doubt that Africa has emerged as a hotbed for cryptocurrencyadoption and innovation. With a growing interest in digital assets andblockchain technology, several publications have sprung up to cater tothe information needs of crypto enthusiasts across the continent.Among these, Cryptotimes Africa stands out as a leading source of newsand insights on the African crypto scene. Let’s take a closer look atCryptotimes Africa and five other noteworthy publications that areshaping the narrative of cryptocurrency in Africa.1. Cryptotimes AfricaAs the name suggests, Cryptotimes Africa is dedicated to covering allthings crypto-related on the African continent. From news updates andmarket analysis to interviews with industry experts, this publicationoffers a comprehensive view of the rapidly evolving crypto landscapein Africa. With a focus on promoting blockchain adoption and financialinclusion, Cryptotimes Africa serves as a valuable resource for bothnewcomers and seasoned veterans in the crypto space.2. Bitcoinke.ioBitcoin Africa is another prominent publication that provides in-depthcoverage of Bitcoin and other cryptocurrencies in Africa. With a teamof experienced writers and analysts, Bitcoin Africa deliversinsightful articles, guides, and reviews to help readers navigate thecomplexities of the crypto market. Whether you’re interested intrading strategies, regulatory developments, or technologicalinnovations, Bitcoin Africa has you covered.3. TechnextTechnext is a broad tech publication with a strong focus on Africanstartups, innovation, and trends, coverage includes articles onblockchain technology, cryptocurrencies beyond Bitcoin, and theirapplications in Africa.4. Tech CabalTech Cabal focuses on providing in-depth analysis and reporting on theAfrican tech ecosystem, including funding rounds, investment trends,and interviews with key players. While its primary coverage is notsolely focused on cryptocurrencies, Tech Cabal features insightfularticles on blockchain technology, cryptocurrency adoption in Africa,and the regulatory landscape. Targeting investors, entrepreneurs, andprofessionals working in the African tech sector, Tech Cabalcontributes valuable insights to the broader conversation on cryptoinnovation in Africa.5. NairametricsNairametrics is a financial and business news platform with a focus onthe Nigerian economy and markets. While covering a wide range offinancial topics, Nairametrics includes articles on cryptocurrenciesas an investment asset class, analysis of their impact on the Nigerianfinancial sector, and regulatory updates. Targeting investors,business people, and those interested in the financial sector inNigeria, Nairametrics provides valuable insights into the evolvinglandscape of cryptocurrencies in Africa’s largest economy.In conclusion, Cryptotimes Africa and the aforementioned publicationsare playing a crucial role in shaping the narrative of cryptocurrencyin Africa. By providing reliable news, analysis, and educationalresources, these platforms are empowering individuals and businessesto participate in the digital economy and seize the opportunitiesoffered by blockchain technology. As the crypto revolution continuesto unfold, these publications will undoubtedly remain essential guidesfor enthusiasts and professionals alike.

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Eid-el-Fitr: Speaker Obasa Congratulates Muslims

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  • urges patriotism for national prosperity

As Nigerian Muslims celebrate the Eid-el-Fitr with their counterparts across the world, Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa, says he joins other faithful in their steadfast belief that Almighty Allah will listen to their supplications and meet their needs at this time.

Dr. Obasa’s prayer came in his congratulatory message to Muslims for having the divine privilege from Allah to partake in the Ramadan.

According to Obasa, in a statement by his Chief Press Secretary, Eromosele Ebhomele, the Eid-el-Fitr is not just a time to eat and be merry, but a day dedicated for thanksgiving to God for the strength and passion He has given the Muslim faithful.

“It is a day to reflect on the blessings and opportunities that have been granted by Allah just as it is a period to engage in acts of charity and love to one another.

“As emphasised in the Holy Book, Muslims are advised to give at this period and beyond. They are urged to share love and be compassionate while having the consciousness of Allah’s mercy upon us all.

“I congratulate Muslim faithful both in Lagos, Nigeria and the world for the successful conclusion of the Ramadan while praying that Allah hearkens to all our supplications throughout the period with the faith that He will continue to bless our state and country,” the Speaker said.

Obasa urged the citizens to mark the festival rededicating their lives to God and doubling their patriotism to the country for national prosperity.

“We all must continue to work hard as we build a peaceful, united and prosperous Nigeria under President Bola Ahmed Tinubu while upholding the lessons that Ramadan brings.

“As Nigerians, regardless of our religious beliefs, we have a country that we aspire to see. We all have to make the country achieve that greatness by being more patriotic and working with the government.

“In the same vein, it has been an upward progression for Lagos. The result of the effective collaboration among the arms of the government is very obvious.

“At the House of Assembly, our pro-people direction has resulted in legislation, motions and resolutions that have brought happiness to the residents of our state. We promise to continue to build on our successes.

“On behalf of my family, colleagues at the House, the management and staff of the Assembly, I wish our Muslim brothers and sisters a beautiful celebration,” Dr. Obasa said.

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Gov AbdulRazaq commiserates with CJ Adebara over father’s death

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Kwara State Governor AbdulRahman AbdulRazaq sends his profound condolences to the Chief Judge of Kwara State Justice Abiodun Ayodele Adebara and the people of Shao on the death of the CJ’s father, Pa Adebara Adio Durodoye Dogo.

Pa Adebara, 98, commanded the respect of all in Shao and environs for his industry, leadership, and huge contributions to the development of his community as a foremost businessman who founded the popular Abulesowo Amuludun Sand Association, according to the Governor.

Governor AbdulRazaq says the late businessman left salutary legacies in the sand of times, as can be seen in the quality of his children and his impacts on the people.

On behalf of the government and the people of Kwara State, the Governor sends his condolences to the Shao community, the Ajakitipa chieftaincy family, and to the immediate and extended families of the patriarch.

He asks God to repose the soul of Pa Adebara and to give fortitude to the illustrious family he left behind.

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