Banking and Finance
Polaris Bank retains best digital bank award for the fourth year
Lagos, Nigeria – October 28, 2024: Polaris Bank, Nigeria’s leading digital retail commercial bank, again at the weekend proved its digital dominance in the Nigerian banking industry, winning the most-coveted award as the best in digital banking and the entire ecosystem for micro, small and medium enterprises (MSMEs).
At the Banks and Other Financial Institutions Awards (BAFI Awards), financial industry’s prestigious awards, Polaris Bank’s trailblazing digital banking platform, VULTe was adjudged the best as “Digital Bank of the Year”, for the fourth consecutive year.
Polaris Bank was also awarded “Best Bank for MSMEs of the Year”, for the third consecutive year, underlining the bank’s well-known competitive lending and general supports for small businesses and the real sector.
With the weekend awards, Polaris Bank retains a pride of place as the only Nigerian bank to have won the coveted awards for that long, underscoring the bank’s continuous investments in human and technological resources.
The BAFI Awards Selection and Review Committee stated that Polaris Bank outperformed industry peers in all key metrics, including strength of strategy for attracting and gaining digital customers, accelerated user engagement, success in getting clients to use digital offerings, growth of digital customers, platform functionality and security.
BAFI Awards is well-regarded for its empirical and data-driven selection process, a practice that makes the awards, one of the most prestigious independent awards for the Nigerian financial services industry.
Commenting on the award, Managing Directo/CEO, Polaris Bank, Mr. Kayode Lawal, said the continuing recognition of VULTe as best digital bank emphasises the user-friendly and multi-functional strengths of the digital platform.
He pointed out that Polaris Bank has seen tremendous market gain in digital transactions and lending with digital lending totaling more than N10 billion in the first eight months of this year, on course to surpass the N12.8 billion recorded for the whole of 2023.
He said the bank understands the importance of user-experience in online transactions and thus prioritises convenience and safety, with sustained investments in bespoke technologies.
“We are honoured to receive this prestigious award, recognising our commitment to the digital banking ecosystem. We understand clearly that this consecutive vote of confidence on our capability is a responsibility, and we are doing everything to remain on the cutting-edge of technology and services.
“We are sure ongoing strategic initiatives will not only sustain our leadership in digital banking and supports for real sector, but also deliver sustainable growth that will firmly entrench our digital leadership across the financial services industry,” Lawal said.
He commended the organisers of the BAFI Awards, BusinessDay, for their commitment to empirical process.
A full digital bank that provides fast, convenient, and reliable solutions to banking needs; some of VULTe’s unique features include: QR payments, end-to-end account opening, instant loan request, debit card request, issuance, and activation, without the customers leaving the comfort of their homes, offices or wherever they may be.
The platform does not just cater to Polaris Bank’s customers alone, but non-customers alike who can also download and enjoy banking services on VULTe. Another key feature is VULTe’s API Banking, which allows merchants and businesses to integrate VULTe with other business critical systems, enabling a portfolio of services including risk assessment, bank statement requests, lien accounts, direct debits and more.
With its all-in-one solution, VULTe not only caters to individual customers but also SMEs, high net worth and retail customers. It takes few minutes to access collateral-free personal and business loans that enables individuals and enterprises of customers.
Photo caption:L-R: Team Lead, CSR, Fidelity Bank Plc, Victoria Abuka; Retail Team Rep., Fidelity Bank Plc, Stanley Ogbuze; Branch Leader, Fidelity Bank Plc, Adeola Odeku Branch, Ifeyinwa Asomugha; Public Sector Team Rep., Nnaemeka Ike; Head, Women Banking, Fidelity Bank Plc, Harriba Harry-Pepple; a beneficiary, Mrs. Akinsanya Abeke; Executive Chairman, Imota LCDA, Hon. Benson Sunday Ayodele; Executive Chairman, Ikorodu West LCDA, Hon. Sulaimon Kazeem Olanrewaju; and Chairman, Ikorodu Local Government, Prince Adedayo Ladega, during the Fidelity Bank “Give Her Power Initiative” which held in Ikorodu, Lagos recently.
Leading financial institution, Fidelity Bank Plc, has extended its flagship women empowerment programme, “Give Her Power”, to Ikorodu, Lagos State, empowering over 30 women with vocational tools to support their businesses and improve household income.The Ikorodu outreach, which marks the third phase of the Initiative’s nationwide rollout, saw the distribution of 12 sewing machines, 15 grinding machines among other items, to beneficiaries drawn from Ikorodu Central, Ikorodu West, and Ikorodu North Local Government Areas.Speaking at the event, Fidelity Bank’s Regional Bank Head, Victoria Island, Mr. Nnamdi Edekobi, who represented the Managing Director/Chief Executive Officer, Dr. Nneka Onyeali-Ikpe, emphasized that the “Give Her Power” initiative reflects the bank’s commitment to delivering practical and sustainable empowerment.“The Give Her Power initiative is intentionally designed to go beyond symbolic gestures. Our goal is to equip women with the tools and resources they need to build sustainable businesses, generate income, and create better opportunities for themselves and their families,” he said.Also speaking at the event, the Divisional Head, Brand and Communication, Fidelity Bank Plc, Dr. Meksley Nwagboh, described the Ikorodu outreach as a strategic intervention targeted at underserved women at the grassroots level.He noted that the Initiative will be expanded across other regions, including the South-East, South-South, and Northern Nigeria, reinforcing the bank’s commitment to ensuring women are not excluded from economic opportunities.“When women are empowered financially, the ripple effect is felt across families, communities, and the broader national economy,” he noted.It will be recalled that the “Give Her Power” initiative was initially launched in Lagos through strategic partnerships with organisations including LUSH Hair, Barbergirl Academy School of Barbering, Dee ‘n’ Ell the Shoe Architect, Inter-Bau Foundation, IVM Innoson, National Credit Guarantee Company (NCGC), and One Universe. The initiative is anchored on the bank’s HerFidelity Apprenticeship Programme, which provides vocational training, mentorship, business support, and access to enterprise opportunities.Prior to the Ikorodu activation, the initiative recently took place in Abeokuta, Ogun Staste, where 100 women received 50 sewing machines and 50 grinding machines at an event held at the MKO Abiola Sports Arena.The Ikorodu outreach attracted key government and community stakeholders, including the Chairman of Ikorodu Local Government, Prince Adedayo Ladega; Executive Chairman of Ikorodu West LCDA, Hon. Sulaimon Kazeem Olanrewaju; and Executive Chairman of Imota LCDA, Hon. Benson Sunday Ayodele.One of the beneficiaries, Mrs. Hassan Bukola from Ikorodu North LCDA, expressed gratitude to Fidelity Bank, describing the support as transformative.“This sewing machine is a life-changing opportunity for me. It will help me grow my business and better support my family,” she said.With the successful rollout in Ikorodu, Fidelity Bank has reaffirmed its commitment to scaling the “Give Her Power” initiative nationwide, positioning it as a key driver of women’s economic empowerment and sustainable community development.Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Providus Bank Plc has commissioned a new branch in Ado-Ekiti, marking another step in its steady expansion across key growth markets in Nigeria.Having met the Central Bank of Nigeria’s (CBN) recapitalisation requirement since January 2025, Providus Bank is now focused on expanding its footprint to support local enterprise, deepen financial inclusion, and bring banking services closer to individuals and businesses.Speaking at the commissioning, the Executive Director/Chief Financial Officer, Deoye Ojuroye, noted that the expansion is part of a broader plan to strengthen the Bank’s presence nationwide over the next 12 months.“Our approach is deliberate—we are growing in the right places, supporting real economic activity, and building a bank that is both resilient and responsive to the needs of our customers.”He added that Providus Bank remains on a strong footing, with a disciplined approach to capital and risk management underpinning its growth.“We are well capitalised within our regulatory category, and that gives us the confidence to continue expanding responsibly while supporting businesses and communities.”The Bank plans to open additional branches in strategic locations over the coming year, reinforcing its commitment to scale, accessibility, and long-term value creation.Providus Bank continues to position itself as a reliable partner to businesses and individuals, combining financial strength with a clear focus on sustainable growth.
Banking and Finance
Fidelity Bank Strengthens SME Support with High Impact Masterclasses on Pricing, Digital Growth and Global Expansion
In line with its commitment to accelerating the growth of Small and Medium Enterprises (SMEs) across Nigeria, leading financial institution, Fidelity Bank Plc, has rolled out a series of high impact masterclasses designed to equip business owners with practical skills, improve operational efficiency and expand market access throughout the month of April 2026.
The first in the series, titled “Pricing That Works: How to Charge Right and Earn More,” held on Friday, April 10, 2026, at the Fidelity SME Hub in Gbagada, Lagos. The session focused on helping entrepreneurs set profitable, sustainable prices without losing customers, an essential factor for long-term business success.
About a hundred SMEs from different sectors attended the masterclass which saw participants receive guidance on key areas many small businesses struggle with including costing, value-based pricing, pricing psychology and customer perception.
Following the success of the pricing masterclass and testimonials from participants, the bank scheduled three additional masterclasses to run throughout April 2026. The second masterclass, held on Tuesday, 14 and Wednesday, 15 April 2026, was a practical, skill-building session titled, “Baking Masterclass: From Kitchen to Cashflow”. The session equipped bakers and food entrepreneurs with hands on techniques to refine their craft, improve product consistency and strengthen their earning potential.
Commenting on the initiative, Divisional Head, Small and Medium-scale Enterprises Banking, Fidelity Bank Plc, Ugochi Osinigwe said, “At Fidelity Bank, we believe that when SMEs succeed, the economy grows. That is why we have curated a suite of masterclasses that provide entrepreneurs with the practical skills they can apply immediately.
“Whether it is pricing correctly, improving product quality, mastering online sales, or preparing for international expansion, we are devoted to empowering SMEs with the tools they need to grow, thrive and prosper.”
She added that the SME Masterclass Series is part of Fidelity Bank’s broader mandate to support SMEs with business advisory, funding, market access and capacity-building initiatives delivered through the Fidelity SME Hub as well as dedicated SME support programmes nationwide. Osinigwe noted that the Bank recently received the Best Retail and SME Bank Award from Independent Newspapers, underscoring its industry leadership and unwavering commitment to growing Nigeria’s MSME sector.
A third masterclass, themed, “Grow Online Sales on a Budget”, is scheduled for April 24, 2026, and will equip entrepreneurs with practical strategies to boost visibility, engage customers, and increase sales using affordable online tools.
Similarly, the fourth and final masterclass, titled, “Take Your Business Global: One-on-One Trade Advisory”, will hold on April 29, 2026 and will serve as a personalized advisory clinic where SME owners will receive expert guidance on export readiness, cross-border payments, global market opportunities, and compliance requirements.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
NESCAFÉ Launches “Next Level Promo” to Reward and Empower Consumers
Then vs. Now: How AMVCA Has Evolved Over the Years
How Governor Dauda Lawal Enhanced Agriculture and Food Security in Zamfara State in Under 3 Years
Regberegbe 1986, 87 and 88 Appoints Deputy Speaker As Adviser Okunrin
