E-Financial
Experts @ Polaris Bank Webinar Outline Strategies for Women to Build Wealth
Three accomplished Nigerians and leading authorities in government and finance sectors; Yewande Sadiku, Osayi Alile and Teju Abisoye have jointly enjoined Nigerian women to explore multiple investment opportunities available to build a sustainable wealth that would last generations.
The trio gave the advice at a webinar organised by Polaris Bank on Tuesday in Lagos as part of activities lined up to celebrate the Women’s Month in line with the International Women’s Day celebration with the theme #choosetochallenge.
The webinar which held under the aegis of the Bank’s gender-based product, Polaris Pearl, focused on understanding the role of investment in wealth creation and the importance of taking financial responsibility.
According to Ms. Sadiku, executive secretary of Nigerian Investment Promotion Commission (NIPC), “For women to attain financial fitness, they have to build passive income and focus on multiple investment streams to realise the future of their dreams”.
Drawing a metaphor, the NIPC Boss and erstwhile senior Investment Banker explained that “In building passive income, you shouldn’t eat your seed, rather, plant it and let it grow to a tree, so you can have many more to eat, plant and grow”.
Using personal examples to illustrate how she built her wealth starting out as a young Banker at age 20, Ms. Sadiku explained that she seized the moment and had a vision of the life she wanted to live and started building passive income through multiple investment windows; setting aside a chunk of her earnings in buying stocks, investing in mutual funds as well as putting away her bonuses and salary increments in fixed deposits, which she later invested in landed properties and real estate.
On her own part, Ms. Alile, who runs Aspire Coronation Trust Foundation, tasked Nigerian women to start saving from the moment they become conscious of the need to attain financial fitness. She urged them not to be in unnecessary competition that brings little or no value in the long run.
“Follow your lane and build a solid foundation that will stand the test of time especially when challenges come”, Ms. Alile advised.
She further reinforced the advantage of starting out children on a solid financial foundation with gifts – in form of stocks and mutual funds – just like she had while growing up, which helped set her up on the right path.
She encouraged participants to start their financial fitness journey now and get help where needed.
In her own presentation, Mrs. Abisoye, the CEO of Lagos State Employment Trust Fund, said that at LSTEF, they observed that women-run businesses have a larger impact on the community and society; adding that it is possible for women businesses to drive impact, making a case for empowering women for greater and more widespread economic impact.
She advised young ladies – either in paid or self-employment to start with the end in mind, stating that: “Once you begin with the end in mind, you are bound to succeed ultimately, even as she disclosed that there are multiple sources to fund a Start-Up as a budding entrepreneur.”
“You can grow wealth irrespective of employment status. You can start out with your personal savings and seed money from family and friends. She enjoined participants to start and grow their businesses before exploring the debt financing option. She further encouraged start-ups to use the acronym: S-service, I-impact, S-sales and I-investment as a mantra to ensure success as the eventual outcome.
Earlier in his welcome address, Mr. Innocent C. Ike, acting managing director/CEO of Polaris Bank, explained that that the webinar was put together to address pertinent issues that border on ‘Women and Growing Wealth’.
Mr. Ike noted that women empowerment and development is core to our sustainability goals and a key focus area of “our social investments and business objective as a Bank. We have had some interventions in this area for impact”.
“Our partnership with the International Women’s Society, Lagos State Ministry of Women Affairs and Poverty Alleviation, Societal Healthcare Organisation, and a host of others, are all efforts geared towards empowerment of women,” he added.
The webinar which had over 1,000 participants following across multiple social platforms, was moderated by Mrs. Adebimpe Ihekuna, group head, Products and Market Development, Polaris Bank.
According to 2018 Credit Suisse Research Institute Global Wealth Report, women hold 40% of global wealth. The report stated that women’s share in wealth rose considerably over the 20th century.
Polaris Pearl is the Bank’s flagship gender-based product designed to cater to the banking needs of the everyday woman, with special focus on Professionals, Entrepreneurs and Homemakers.
The account is available in three (3) variants; Polaris Pearl Instant Account, Polaris Pearl Instant Plus Account and Polaris Pearl Account – Savings.
Polaris Bank is a future-determining Bank committed to delivering industry-defining products and services across all sectors of the Nigerian economy.
ChatPay has launched Africa’s conversational banking platform, enabling individuals and businesses to access financial services through WhatsApp.
The Lagos-based fintech startup, is in controlled rollout, connecting WhatsApp to linked-bank management, airtime and supported electricity payments through simple conversations.
The company said the platform is designed to enable users to send money, pay bills, buy airtime and manage business transactions within WhatsApp conversations, subject to the completion of regulatory approvals and integration with licensed banking partners.
According to ChatPay, the platform is operated by CP Technology Limited and is currently undergoing a phased rollout ahead of its planned public launch.
The company said the initiative is intended to simplify access to financial services by leveraging WhatsApp, which it estimates is used by more than 50 million Nigerians monthly.
Speaking on the idea behind the platform, Adeoluwasubomi Odebunmi, product lead and co-founder, said the concept emerged while she was studying Software Engineering at Babcock University.
“I saw the gap while I was still in school—how much friction there was just to move money. I didn’t want to just study the problem. I wanted to help fix it,” she said.
Odebunmi said she had previously worked on software solutions spanning e-commerce, real estate management, school administration and artificial intelligence applications before co-founding ChatPay.
Aseoluwa Siyanbola, growth lead and co-founder, said his experience managing Nigerian bank accounts while studying abroad highlighted some of the challenges users face with digital banking services.
According to him, difficulties such as one-time password (OTP) failures and inconsistent banking applications inspired the team to explore conversational banking solutions.
“We each encountered similar challenges and came together to build a solution that simplifies everyday financial transactions,” he said.
cAbraham William, tech lead and co-founder, said the company is focused on improving access to financial services through a platform that many Nigerians already use daily.
“We want to make financial services easier to access by allowing people to carry out transactions through a familiar messaging platform,” he said.
William said he oversees the company’s engineering, technology strategy and system architecture.
ChatPay said its services will be introduced in phases as regulatory requirements are met and integrations with banking partners are completed.
The company added that its newly launched “Founding 2,500” programme will enable selected early users to test features, provide feedback and participate in product development before the platform’s wider rollout.
According to the company, interested users can register for the waitlist and the Founding 2,500 programme through its website.
Founded by Odebunmi, Siyanbola and William, ChatPay said its long-term goal is to expand conversational banking services beyond Nigeria into other African markets after its domestic rollout.
United Bank for Africa (UBA) Plc has been named Nigeria’s Best Bank for Retail Banking and Best Bank for Sustainability Leadership (ESG) at the 2026 Euromoney Awards for Excellence, reinforcing its position as one of Africa’s leading financial institutions.
The awards were presented on July 17 at The Peninsula London in the United Kingdom, recognising financial institutions that have demonstrated outstanding performance, innovation, customer impact and sustainable banking practices.
The double recognition highlights UBA’s growing influence in retail banking and its commitment to advancing environmental, social and governance (ESG) principles across its operations.
According to Euromoney, UBA distinguished itself through a series of sustainability initiatives, including the introduction of a Green Financing Facility designed to support households and businesses transitioning to renewable energy.
The publication also cited the bank’s ₦5 billion financing programme, implemented in partnership with the Bank of Industry (BOI), to provide funding for women-owned businesses.
Euromoney further recognised UBA’s commitment to achieving net-zero carbon emissions by 2050, describing it as a demonstration of the bank’s long-term sustainability strategy.
The publication also highlighted the bank’s efforts to integrate sustainability into its operations through the deployment of solar-powered energy solutions across 50 branches and comprehensive ESG capacity-building programmes that have trained more than 16,000 employees across the UBA Group.
In the retail banking category, Euromoney noted that UBA continued to consolidate its position as one of Africa’s largest retail banking institutions.
According to the publication, the bank expanded its customer base to more than 37 million by the end of 2025, while retail banking revenue increased more than fourfold to ₦429.5 billion.
The awards also recognised UBA’s continued investment in digital banking innovation, particularly enhancements to its artificial intelligence-powered chatbot, LEO.
Euromoney noted that LEO became Africa’s first AI-powered banking platform to facilitate cross-border money transfers in local currencies through the Pan-African Payment and Settlement System (PAPSS).
Commenting on the awards, UBA’s Group Managing Director and Chief Executive Officer, Mr Oliver Alawuba, described the recognition as a validation of the bank’s commitment to delivering value to customers while promoting sustainable development across Africa.
“To be recognised as Nigeria’s Best Bank for both ESG and Retail Banking in the same year sends a powerful message that sustainable banking and commercial success are mutually reinforcing.
“At UBA, we are committed to financing Africa’s future, supporting businesses and communities, promoting financial inclusion, and delivering innovative banking solutions that improve lives.
“These awards belong to our customers for their confidence in us and to every member of the UBA family whose dedication continues to make our vision a reality,” he said.
Also speaking, UBA’s Group Head, Marketing, Brand and Corporate Communications, Mrs Alero Ladipo, said the awards reflected the bank’s unwavering commitment to putting customers at the centre of its operations.
According to her, every innovation, investment and banking solution introduced by UBA is aimed at creating exceptional value for customers while expanding access to financial services.
“These awards are a powerful affirmation of our Customer First philosophy.
“Whether it is supporting entrepreneurs with access to finance, enabling seamless digital payments, advancing clean energy financing or expanding financial inclusion across Africa, UBA remains focused on delivering meaningful impact.
“We are honoured that one of the world’s most respected financial publications has recognised these efforts,” she said.
UBA currently operates in 20 African countries, as well as the United Kingdom, United States, France and the United Arab Emirates, serving more than 45 million customers through a combination of digital banking platforms and physical branch networks.
The bank said it remains committed to strengthening financial inclusion, driving innovation and supporting sustainable economic development across Africa and beyond.
Nigeria Deposit Insurance Corporation (NDIC) has begun paying insured deposits to customers of the 46 recently failed microfinance banks.
Mr Thompson Sunday, managing director and chief executive, NDIC, disclosed this in an interview with the News Agency of Nigeria (NAN) in Abuja.
The interview took place on the sidelines of the International Association of Deposit Insurers Africa Regional Committee meeting.
Sunday said the corporation was using the Nigeria Inter-Bank Settlement System (NIBBS) and customers’ Bank Verification Numbers (BVN) for the payments.
He said the NDIC had traced depositors’ alternative bank accounts and credited them directly without requiring physical visits.
He advised depositors without BVNs to visit the nearest NDIC zonal office for verification and payment processing
“The CBN revoked the licences of the 46 microfinance banks on July 1, 2026,” he said.
He said the NDIC automatically became the provisional liquidator after the revocation, in line with the law.
Sunday said the corporation had commenced payment of the insured maximum deposit of N2 million to eligible customers.
He explained that further payments would depend on the recovery of the failed banks’ assets and outstanding debts.
He said proceeds realised from recoveries would be distributed as liquidation dividends to eligible depositors.
Sunday cited Heritage Bank, Aso Savings and Union Homes as examples of the NDIC’s prompt reimbursement efforts.
He said insured depositors of Heritage Bank were paid within four days of the revocation of its licence.
He added that customers of Aso Savings and Union Homes received payments within 72 hours.
“The law allows us 30 days, but we are working to surpass our previous records,” he said.
The Central Bank of Nigeria (CBN) revoked the banks’ licences for failing to meet regulatory requirements for continued operations.
The apex bank said the action was aimed at protecting depositors, strengthening financial stability and ensuring regulatory compliance.
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