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Five Millionaires Emerge in Polaris Bank’s ongoing ‘Save & Win’ Promo

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Five lucky Nigerians at the weekend hit a fortune when they emerged Millionaires in the ongoing Polaris Bank Save & Win Promo.

The live quarterly draw of the ongoing Polaris ‘Save & Win’ promo which took place at the Bank’s headquarters Annex, Alausa Ikeja at the weekend in Lagos, further underscored Polaris Bank’s dedication to fairness in all its promotions and activities.

The development is in line with the Bank’s commitment to rewarding its loyal customers across the nation.

The winners emerged through a draw exercise which was witnessed by its representatives and relevant Agencies of government; Federal Competition & Consumer Protection Commission (FCCPC), National Lottery Commission (NLRC) and Advertising Regulatory Council of Nigeria (ARCON) who confirmed that the 5 lucky winners were selected across Nigeria’s various regions spanning the geo-zones.

Each winner received a cash prize of N1,000,000. During the draw, the lucky winners were called at random using a hybrid media technology which enabled in-premises event; as well as participation of over 1221 customers through the Bank’s virtual network and social media handles.

One of the lucky millionaires commended the Bank in putting in place the promo at this time which he said was relevant saying “Thank you to Polaris Bank for making me a millionaire. I never expected this surprise. This money definitely came in at the right time, I will tell my friends to open accounts with Polaris Bank and participate in the promo so we can all become millionaires.”

Speaking at the live draw event, the representative from FCCPC; Susie Onwuka said, “We’ve been monitoring Polaris Bank since the promo started and it has been fair, they comply to rules and guidelines. Customers should feel free and confident to participate in the promo”.

During the unveiling of the lucky millionaires, Polaris Bank’s Chief Digital Officer (CDO), ‘Dele Adeyinka also expressed the Bank’s commitment to encouraging a culture of savings among its customers. “The Polaris Bank Save & Win promo is not just about rewarding customers; it’s also about encouraging our customers to save for the rainy day”.

The CDO emphasized that customers can still participate in or increase their chances of winning by depositing a minimum of N10,000 in their Savings account. He also noted that non-customers of the Bank can participate for a chance to win in the draws by opening a Polaris Savings account with N2,000 and growing same to N10,000 before the next draw date.

The representatives of the regulatory bodies commended the Bank for making good its promise to winners of the draws.

For those wishing to be part of the Campaign and stand a chance to also become millionaires, below are four (4) ways to participate in the ongoing Polaris Save & Win promo:

1. Download VULTe on iOS and the App store to open a Polaris Savings Account or dial USSD *833*0# on your phone or log into Polaris Bank savings portal.
2. Grow your account by N10,000 or more and maintain for 30 days or by N10,000 for 3 consecutive months to qualify for monthly & quarterly draws respectively.

3. If your account is dormant, you can reactivate your account without visiting the Bank by simply dialing *833*30#.

4. Follow the Bank’s handles @polarisbankltd across all social media platforms or visit the website to stay updated.

Polaris Bank was adjudged Nigeria’s Digital Bank of the Year in 2023, 2022 and 2021 in BusinessDay’s Banks and Other Financial Institutions (BAFI) Awards. As a digital-forward Bank, the Bank is dedicated to forging a customer-focused future through innovative partnerships that reshape both businesses and communities.


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E-Financial

NDIC Harps on Collaboration to Check Insider Abuses, Financial Malpractices

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The Nigeria Deposit Insurance Corporation, NDIC, urged for more collaboration with enforcement agencies to tackle the menace of insider abuses and malpractices in financial institutions.

Bello Hassan, Managing Director/Chief Executive Officer, NDIC, made this call while speaking at the capacity building workshop for law enforcement agencies in Lagos.

Speaking on the theme of the workshop, “Effective Collaboration as a strategy in the fight against insider abuses and financial malpractices in Banks and Other Financial Institutions in Nigeria,”

Hassan said that the menace of insider abuses and financial malpractices is   a major cause of bank failure, which if not tackled is   capable of eroding public confidence in our banking system.

Stating that the aim of the workshop is to build on current collaborative efforts in the fight against insider abuse and financial malpractices, the NDIC boss said: “In line with similar initiatives by the Corporation, this workshop aims to complement the efforts of the Inter-Agency Task Force on the Implementation of Failed Banks Act, and I want to believe that all the Agencies involved as members of the Task Force are being represented at this workshop.

The Corporation, whilst bearing in mind the positive impact of such collaboration will continue to strive at enhancing the synergy between all of us in the area of law enforcement relating to investigation and prosecution of financial malpractices.

“Please permit me to use this forum to appeal to the members of the Task Force not to relent on your oars but to execute the given mandate diligently thereby achieving the objectives of establishing the Task Force.

“Through our collaborative efforts, I am aware that fourteen (14) prosecution cases are on-going at various courts, eighteen (18) on-going investigation with FMIU, eight (8) with EFCC and nine (9) concluded investigations with Federal Ministry of Justice for advice and prosecution. This is an indication that we are on the right course.”

Consequently, Hassan urged the gathering of law enforcement agencies not relent on their efforts adding that the NDIC is aware of the challenges of investigating and prosecuting financial malpractices and bank fraud cases and will give its unflinching support at all times.


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E-Financial

NDIC, EFCC Begin Investigation of Directors, Staff of Heritage Bank

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Nigeria Deposit Insurance Corporation (NDIC) has said it will, in conjunction with law enforcement agencies, commence investigation of directors, managers and staff of the defunct Heritage Bank following its liquidation over a month ago.

NDIC, EFCC Begin Investigation of Directors, Staff of Heritage Bank

Mr Bello Hassan, managing director of NDIC, stated this at the 2024 capacity building workshop for law enforcement agencies on ‘Inter-Agency Collaboration in the Fight Against Financial Malpractices in Banks and Other Financial Institutions in Nigeria’ in Lagos yesterday.

Stating that, those behind the collar of the bank will be brought to book, Hassan, who was represented by Mr Bello Hassan, NDIC’s director, Corporate Communications,  noted that, through its collaboration with law enforcement agencies, 14 prosecution cases are ongoing at various courts, 18 ongoing investigation with FMIU, 8 with EFCC and 9:concluded investigations with Federal Ministry of Justice for advice and prosecution.

“The Central Bank of Nigeria recently revoked the banking licence of Heritage Bank PLC which may require you to be called upon to investigate some of the Directors, Managers and officers of this failed insured Institution with a view to bring to book those found culpable in the collapse of this institution.

“The Corporation as a key participant in the financial safety-net, has over the years taken the fight against insider abuses and financial malpractices in banks very seriously. As you all know, a safe and sound banking environment is an essential ingredient of financial system stability which of course is the bedrock for economic development of every nation.

“We are not unaware of the challenges of investigating and prosecuting financial malpractices and bank fraud cases but wish to urge you not to relent in your efforts and be rest assured of our unflinching support at all times,” he pointed out.

Hassan noted that, the theme of the workshop ‘Effective Collaboration as a strategy in the fight against insider abuses and financial malpractices in Banks and Other Financial Institutions in Nigeria’ was to re-echo its resolve to unite with law enforcement agencies in the “fight occasioned by the menace of insider abuses and financial malpractices which is a major cause of bank failure, and if not tackled is  capable of eroding public confidence in our banking system.

“Consequently, and in line with Article 12 of the Core Principles of Effective Deposit Insurance which provides for every Deposit Insurer to put in place the necessary mechanism of bringing to book parties found culpable in the failure of their bank or financial Institution.

“It is for this reason that the NDIC has been consistent since 2012 in organising this workshop to sharpen the skills of law Enforcement operatives and Officers from Regulatory Agencies that are involved in the investigation and prosecution of bank Directors, Managers and staff of banks involved in malpractices and insider abuses that might have led to the collapse of their banks or financial Institutions.

 

“Change is the only constant thing in life. Most changes in human endeavours come through developments in sciences, technology or innovation. As the banking system is rapidly evolving with new innovations, it is clear that a new phase of financial technology driven economy is currently reshaping the global financial services space.

“With this development, the criminally minded users of the banking system including the notorious ‘’cyber criminals’’ are busy perfecting their misplaced skills and that is why workshops like this are necessary to enable law enforcement officers to understand, accept and adapt to the dynamic operating environment.”

 

 

 

 


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E-Financial

PalmPay Makes Payment Easier with Zero Bank Transfer Fees on All Transactions on the Fintech App

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In its continued drive to financial inclusion across Nigeria, leading fintech company PalmPay, continues to give its users unlimited free transfers to all banks. This feature which was introduced earlier in the year has been allowing users to make transfers to all banks within the country without incurring any bank fees.

Chika Nwosu, PalmPay’s Managing Director, stated: “We are committed to ensuring smooth and easy transactions with our free transfer feature. This shows our dedication to providing accessible and affordable financial services to our over 30 million users and every Nigerian. We believe everyone should have access to affordable financial services.”

PalmPay is dedicated to driving economic empowerment in Nigeria by offering top-tier products such as money transfers, bill payments, credit services, and savings through its app and mobile money agents. Users can send and receive money seamlessly, pay bills effortlessly, shop with ease, and earn discounts and cashback while performing these transactions.

By eliminating transfer fees to all banks on its app, PalmPay has empowered its millions of customers to enjoy endless fund transfers to family and friends, pay their bills seamlessly, and manage their finances more effectively.

PalmPay is a leading Africa-focused fintech platform committed to driving economic empowerment in Africa. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay brings top-tier products into the pockets of everyday Nigerians. With this, we are able to drive financial inclusion.

PalmPay offers money transfers, bill payments, credit services, and savings on its app and via its mobile money agents. Since launching in Nigeria in 2019 under a Mobile Money Operator license, the platform has grown to over 30 million app users as part of its cashless payment ecosystem.


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