E-Financial
2023 World Environment Day: Polaris Bank restates commitment to environmental sustainability in Nigeria
Polaris Bank, Nigeria’s leading digital financial institution, has restated its commitment to environmental sustainability in the country.
The Bank’s commitment is coming on the heels of the 2023 World Environment Day observed yearly on June 5. The annual event is led by the United Nations Environment Programme (UNEP) which is observed globally to encourage awareness and action for the protection of the environment. This year marks the 50th anniversary of the event.
The theme of the 2023 World Environment Day is “Solutions to plastic pollution” with the hashtag #BeatPlasticPollution. Plastic pollution is a major environmental problem. Every year, millions of tons of plastic waste end up in our oceans, landfills, and waterways. This plastic can harm wildlife, pollute our air and water, and contribute to climate change.
Specifically, and in line with the theme of the 2023 World Environment Day, Polaris Bank has taken proactive measures to address challenges of waste management and plastic pollution while supporting the United Nations’ Sustainable Development Goals (SDGs), Nigerian Sustainable Banking Principles (NSBPs) and United Nations Environment Programme Finance Initiative (UNEP FI’s) Principles of Responsible Banking
Polaris Bank as part of its environmental sustainability focus has invested in waste management, plastic collection, renewable energy adoption, education, inclusivity, and carbon reduction. By implementing sustainable practices and guidelines, the Bank contributes to individuals’ needs and societal goals while ensuring a responsible and environmentally conscious business strategy.
“In managing the environmental impact of its activities, Polaris Bank has made significant efforts to reduce carbon emissions and dependence on fossil fuels.
“Through the use of solar energy to power security lights, some ATMs and business locations, as well as implementing automated systems and digital alternatives to paper output, the Bank actively mitigates waste generation and reduces its carbon footprint.
“To further minimize its carbon footprint, Polaris Bank has streamlined its vehicle fleet, while most meetings and engagement are held virtually. By prioritizing sustainable energy sources and expanding its network of ATMs, including prestigious off-site locations, the Bank ensures convenient and eco-friendly access to banking services,” the Bank explained in a statement on Monday.
The Bank took it’s commitment a step further by partnering with some organizations to help it provide clean water and sanitation in some communities. It’s Corporate Social Responsibility (CSR) projects are clearly spelt out to reflect adherence to environment sustainability.
“Additionally, through partnerships with organizations like the United Nations Association of Nigeria (UNAN), we contributed to providing clean water and enhanced sanitation to local communities in Lagos state.
“We also partnered with the non-profit organization Evolve, to launch the Girl Child Education and the Environment CSR program. This initiative strives to keep the girl child in school, and educated thereby reducing early marriages and population explosion which impacts the Climate.
“This empowers underprivileged girls through education, providing them with school supplies and personal development tools. By supporting over 3,000 female students from 12 secondary schools nationwide, Polaris Bank fosters individual growth and inspires positive contributions to society.
“Polaris Bank’s dedication to environmental sustainability is a key component of its broader vision to create a positive and lasting impact on society. As part of the commemoration of the 2023 World Environment Day, the Bank has established dedicated plastic collection hubs across its branches in Lagos.
“These hubs serve as convenient drop-off points for responsible disposal of plastic waste for onward recycling, while empowering individuals and communities to actively participate in reducing plastic pollution.”
E-Financial
Former SEC Leadership Failed to Regulate, Develop Capital Market- ASCSN
Senior Staff Union under the aegis of Association of Senior Civil Servants of Nigeria (ASCSN) of Securities and Exchange Commission (SEC) has accused the past administration of the Commission led by Dr. Lamido Yuguda of failing in its mandate of effectively regulating and developing the capital market, which is an intricate part of the nation’s economy.
ASCSN also urged the federal government to exempt workers of the commission from 50 percent operating surplus remittance
Abba Mamman Ali, chairman of the Union, stated this on Monday during a briefing with journalists in Abuja.
Recall that President Bola Tinubu had last Friday sacked Dr. Lamido Yuguda, former director general and announced a new management and board for the Commission.
While Mr. Mairiga Aliyu Katuka is the chairman of the new board, Dr. Emomotimi Agama is the new director-general.
Abba said the administration of the Yuguda “failed in its mandate to effectively regulate and develop the capital market, which is an intricate part of the Nigerian economy.”
Furthermore, he said the Yuguda-led Management “was insensitive and unresponsive towards issues of staff welfare especially issues bordering on staff promotion, gratuity and increase of staff emolument, amongst many others.”
He said, “Unfortunately, staff morale was at the lowest ebb under the regime of the immediate past Management.
‘It became clear to the SEC Staff Union and our parent body, the Association of Senior Civil Servants of Nigeria (ASCSN) that a vibrant capital market and a highly motivated SEC workforce could only be achieved through a change of SEC Management by Mr President.
“This prompted the Union to cry out to His Excellency, President Bola Ahmed Tinubu. By clearing out the ineffective SEC Management led by Lamido Yuguda, His Excellency, President Bola Ahmed Tinubu has lived up to his sterling reputation as a listening President.”
He said the SEC Staff Union has pledged to collaborate seamlessly with the new board under the leadership of board chairman, Mr. Mairiga Aliyu Katuka and Director General, Dr. Emomotimi Agama, to deliver a vibrant capital market in line with President Tinubu’s Renewed Hope Agenda.
However, to achieve this, he called for the commission to be exempted from the 50 per cent deductions on operating surplus as contained in the Finance Act 2024 because the Commission is a development institution.
He said, “We want this management to look into issues of staff promotion, vacancies and gratuity. We urge them to look at it very well and settle those issues as they concern staff directly.
“Also, there is need for Management to meet with the government on the issue of 50 per cent deductions on operating surplus. These deductions have almost incapacitated the Commission as the SEC has been having great difficulties carrying out its dual functions of regulating and developing the capital market.”
On the capital market, he said the Union is “urging the new management to constitute a market wide committee who will proffer solutions to the various issues currently bedevilling the market.”
E-Financial
Kenya to Extradite Anjarwalla, Binance Executive Linked to Tax Evasion to Nigeria
Kenya is preparing to extradite Nadeem Anjarwalla, a Binance executive wanted by Nigerian authorities for alleged involvement in tax evasion and a dramatic escape from custody.
Anjarwalla was apprehended in Kenya over the weekend in a joint operation involving several agencies, including the Economic and Financial Crimes Commission (EFCC), Nigeria Police Force, Kenya Police Service, FBI, and INTERPOL, following weeks of search efforts.
He is expected to be extradited to Nigeria within the week to face trial on tax evasion charges, with the possibility of additional charges related to illegal passport use and escape from custody.
Anjarwalla, Binance Africa’s regional manager, along with another executive, Tigran Gambrayan, encountered legal issues in Nigeria in February due to their association with the crypto exchange.
Anjarwalla evaded custody in March using a Kenyan passport and had been evading authorities until his recent capture.
This development adds to the ongoing tension between Binance and Nigerian authorities. Gambrayan, who has been detained since February, is currently facing trial for alleged tax evasion.
However, the proceedings have faced delays, with the court adjourning the case twice due to issues with formally serving charges to the exchange. Binance CEO Richard Teng has expressed willingness to cooperate with Nigerian authorities, but specific efforts to secure the release of the detained executives remain undisclosed.
Similarly, Gambrayan’Kenya to Extradite Binance Executive Linked to Tax Evasion to Nigeria attempts to secure bail have encountered obstacles, with a federal high court in Abuja postponing his bail application hearing.
He is presently held at the Kuje Correctional Center pending further legal proceedings.
E-Financial
Moniepoint MFB opens office in Lagos, pledges to do more for customers
In today’s fast paced financial services landscape, which has been defined by the ubiquity of digital and mobile banking tools, microfinance banks continue to play a crucial role in advancing financial inclusion. The hallmark of banking is customer satisfaction as such organizations that consistently invent new ways to meet consumer needs and ensure that they are well catered to are viewed as exemplars.
In a move aimed at enhancing customer satisfaction while providing more outlets for addressing customers’ enquiries and requests, the definitive bank for small and medium-sized businesses in Nigeria, as well as their customers and employees, Moniepoint Microfinance Bank has announced the opening of a new office in Lagos.
The new office which is situated on Admiralty Road in the Lekki area of Lagos follows from the relocation of its MFB office from Oyo-Ibadan Rd to Lagos. The new Moniepoint MFB office offers a full suite of banking services that cater to the essential financial needs of its customers, empowering them to truly live productive lives.
Commenting on the development, the Managing Director, Moniepoint MFB, Babatunde Olofin noted that the Bank’s visionary commitment to ensuring the creation of a society where everyone experiences financial happiness and they are sufficiently empowered to bring their dreams to fruition adding that the new branch is in strong alignment with this proposition which alongside its other core digital banking channels, plays a key role in how the financial institution serves and provide solutions to customers across the country.
“As we consistently bolster our digital capabilities, we recognize that physical sites remain an important touchpoint for many customers, who relish the trust, inter-personal touch and clarity at face-to-face conversations which our amazing customer service personnel provide.
“As such, creating connected experiences – physical and digital to provide access to best in class banking services affords us the privilege to deliver customer satisfaction and drive our business growth even as we strive to meet and surpass the expectations of our stakeholders,” he said.
Olofin reiterated that at the heart of Moniepoint’s success are its highly esteemed customers and that judging from feedback, testimonials, as well as the huge adoption of its products and services, the Bank is poised and well positioned to deliver more quality and value-adding banking services.
It will be recalled that Moniepoint MFB recently launched a USSD code,*5573# to offer customers a fast and user-friendly platform for consumers to carry out their banking activities safely and securely. This is in addition to a partnership that has been forged with the Corporate Affairs Commission (CAC) to digitize over 30 million MSMEs in the next 5 years with a view to enabling them to contribute more meaningfully to job creation and national growth.
- Telecom2 days ago
ABoICT Lecture 2024 to Focus on Artificial Intelligence (AI) In A Digital Economy
- Telecom2 days ago
Telcos Record N27Bn Loss from Damaged Fibre Cables
- News2 days ago
Wema Bank Launches 5th Edition of Youth-Focused Hackathon, “Hackaholics”
- Telecom2 days ago
NCAIR Relaunch: Pantami, Tijani Fight for Credit
- News2 days ago
FG to Secure Fresh $2.25Bn World Bank Loan
- E-Financial2 days ago
Dimon, JP Morgan CEO Describes Bitcoin as Fraud, Ponzi Scheme
- E-Business2 days ago
Forex Volatility will Not End Overnight- CBN Gov
- E-Financial2 days ago
Access Holdings to Use Tech in Raising N365bn Capital