E-Financial
Polaris Bank Champions Accelerating Action at International Women’s Day Seminar
Polaris Bank has reaffirmed its commitment to gender equality and women’s empowerment through its International Women’s Day (IWD) Seminar, themed: “Accelerating Action: Breaking Barriers & Creating Equal Opportunities”.
The event provided a platform for thought leaders, professionals, and advocates to emphasize the urgent need to accelerate action towards gender equality by breaking barriers and creating equal opportunities for women across all sectors.
Speaking at the event, Polaris Bank’s Executive Director, Mrs. Abimbola Ozomah conveyed greetings from the Managing Director/CEO, Management, and Staff of the Bank, highlighting the importance of the day. “International Women’s Day is a moment to recognize the remarkable achievements, contributions, and struggles of women throughout history and across all sectors of society. However, it is also a call to action. This year’s theme, ‘Accelerate Action,’ urges us to take swift and decisive steps toward achieving gender equality by breaking down systemic barriers and biases that hinder women’s progress.”
Reinforcing Polaris Bank’s commitment to gender inclusivity, Mrs. Ozomah, stated, “At Polaris Bank, we believe that real progress happens when organizations go beyond conversation and actively implement policies that support women’s growth.
“Empowering women and ensuring their inclusion in every sphere of society, is at the core of our values. This seminar is part of our broader mission to create an inclusive and equitable society for all.”
The seminar featured an insightful conversation with industry experts who shared practical strategies for overcoming systemic barriers, fostering leadership opportunities, and enhancing financial inclusion for women.
In her experience sharing session, Ayaba M. Ayo-Joseph, a Non-Executive Director with Polaris Bank, advocated that women should be supportive of each other, stating, “We as women should help each other and not bring each other down. These efforts should not be restricted to just International Women’s Day or a day just in March. This should be practiced all the time.
She also shared 8 Ways to Accelerate Action for women’s empowerment.
Economic independence for women, stepping out into leadership roles as we need more women in leadership positions, advocating for gender-friendly workspaces, being a mentor to uplift others, practicing self-care, creating safe spaces for women, collaborating with other women to build strength in unity, and being digitally savvy to leverage technology for growth.
She concluded her session with a powerful reminder to womenfolk saying: “The change we wish to see starts with us. Let’s keep pushing the boundaries and support each other as we go.”
Mrs. Subulade Giwa-Amu, a Non-Executive Director, Polaris Bank, stated the role of character and purpose in achieving success, saying, “Success is built on character, resilience, and purpose. Challenges will arise, but integrity is the key to overcoming them.”
She also highlighted the importance of financial independence and self-investment, adding, “Financial independence starts with vision and focus. Work-life balance is essential, but prioritization is crucial at different stages of life.”
She further advised women to continuously invest in themselves, saying, “Invest in yourself, continuous learning and personal growth are non-negotiable for success.” Speaking on women’s empowerment, she urged collaboration over competition: “There is room for everyone at the top. Women must support and uplift each other, rather than compete unnecessarily.”
Tolulope Makinwa-Adeniyi, Executive Director, Muazu Africa, reiterated the power of relationships and personal development: “Relationships are invaluable. Express admiration, nurture connections, and build a network that will open doors for you.” She also encouraged personal growth, saying, “Do the hard things, growth comes from embracing challenges, stepping out of comfort zones, and pushing beyond limitations.”
She further stressed the importance of Mastery, stating, “Mastery is power. Stay ahead by continuously upgrading your skills, embracing new technologies, and refining your expertise”. Calling for a mindset shift, especially amongst the school girls from the five selected schools in Lagos state present at the event. She remarked, “The ‘Cinderella Complex’ must end—women don’t need to be saved; they need to take charge of their own destinies.”
Ndidi Ukaonu, director of Parthian Partners, called for action over conversation: “It’s time to move beyond discussions about gender equality and start implementing real change.”
She encouraged individuals to define their impact and take ownership of their success, challenging them to ask, “What am I known for? What legacy am I building? How am I contributing to change?”
She also reinforced the need for confidence and taking initiative, saying, “Stop waiting for permission to be great—own your power and walk in it.” Closing with a rallying call, she urged participants to, “Accelerate action, break barriers, and create opportunities. The world is waiting for you to step up. The time is now”.
Polaris Bank remains steadfast in its mission to drive change, ensuring that women are not only heard but also empowered to lead.
The World Bank has predicted that Nigeria may likely see a rise in the levels of poverty over the next two years despite a moderate economic growth forecast.
The multilateral lender noted that while non-resource-rich countries are expected to continue reducing poverty and grow faster, resource-rich countries like Nigeria may drag due to declining oil prices.
”Resource-rich countries are expected to see less progress in terms of poverty reduction,” the World Bank said in its Africa Pulse report titled ‘Improving Governance and Delivering for People in Africa’.
“Importantly, poverty in resource-rich, fragile countries (which include large countries like the Democratic Republic of Congo and Nigeria) is expected to increase by 3.6 percentage points over 2022–27,” it added.
The Nigerian government has in the past two years provided various safety nets to ease the burden of the citizens, but these, on their own, may not be enough to lift millions off the poverty line.
The reforms which were implemented some 20 months ago, though came with a plethora of gains such as allowing the economy to be market-driven rather than artificial pegging, it’s nonetheless exacerbated poverty with the numbers rising from 104 million to 129 million people in a year.
According to the World Bank, Nigeria accounts for 19 percent of the share of poverty in Sub-Saharan Africa, followed by Congo, Ethiopia and Sudan with 14 percent, 9 percent and 6 percent respectively.
But despite the growing poverty, the Washington-based lender expects Africa’s most populous nation annual GDP to increase 3.6 percent in 2025 and 3.8 percent in two years. “Economic growth is expected to remain moderate in Nigeria,” the World Bank said.
“It is expected to increase from 3.4 percent in 2024 to 3.6 percent in 2025, and slightly increase to 3.8 percent in 2026–2027.”
According to the World Bank, the gradual recovery of the Nigerian economy along the forecast horizon is driven primarily by the service sector—specifically, finance, information and communications technology services, and transportation—and, to a lesser extent, a rebound in oil production that converges to its OPEC+ quota.
The World Bank’s projection is relatively higher than the International Monetary Fund (IMF) revised forecast for the nation.
IMF cuts Nigeria’s 2025 economic growth forecast downward to 3.0 percent from the earlier projection of 3.4 percent in 2024, citing weakening oil supply and escalating global trade tensions.
The two projections are however largely lower than Nigeria’s ambitious projected annual GDP growth of 4.6 percent outlined in the 2025 budget.
According to Adetilewa Adebajo, investment banker and economist Nigeria must intensify efforts towards economic diversification, infrastructure development, and asset optimisation to stimulate economic growth and attract global investments
“Sale of oil and gas JV assets to optimise equity within the FGN capital structure and balance sheet are crucial for Nigeria’s path towards sustainable development.
“Deliberate Investment projects such as the Agro Airport development and Olokola deep sea port, in Ogun State, major infrastructure projects led by companies like Arise and Dangote, need to be replicated nationwide,” Adebajo said.
Securities and Exchange Commission (SEC) has urged Nigerians to report any suspected illegal investment schemes to the commission for proper investigation and necessary action.
This is in the light of the recent collapse of Crypto Bridge Exchange (CBEX).
The Commission issued a notice on Thursday to the investing public, warning that Ponzi investment schemes pose a significant danger to the growth of the capital market.
In its latest advisory, the Commission highlighted the growing threats and risks posed by Ponzi schemes, illegal investment operations, and unregistered digital asset platforms.
It explained that fraudulent entities and individuals continue to exploit unsuspecting investors with deceptive promises of high returns, often leveraging the allure of digital assets to create a false sense of legitimacy.
“The public is strongly advised to be wary of investment opportunities that promise guaranteed or unusually high returns with little or no risk.
“These include unregistered platforms offering cryptocurrency investments, forex trading, or blockchain-based schemes, without undergoing the prescribed processes to obtain prior approval from the SEC.
“The SEC reiterates in this regard that, ‘If it sounds too good to be true, it likely is.’”
The Commission urged potential investors to conduct thorough due diligence before investing and to verify the registration status of the company or individual offering the investment through the SEC’s website.
The Commission explained that Section 196(3) of the Investments and Securities Act, 2025, criminalizes the promotion and operation of prohibited or unregistered schemes.
“This violation is punishable, upon conviction, by a fine of not less than ₦20 million or a prison term of 10 years, or both,” the Commission warned.
The SEC stated that it is fully committed to identifying and prosecuting offenders to the full extent of the law.
“We encourage the public to partner with the SEC to safeguard the integrity of the investment environment in Nigeria by promptly reporting suspected illegal investment schemes to the SEC,” the notice concluded.
The Nigerian federal government announced that the Electronic Money Transfer Levy (EMTL) generated $49.5 million in revenue, with fintech companies contributing $18 million.
This fund, as reported by the Federation Account Allocation Committee, is a considerable 56.80 percent increase over the $31.6 million earned during the same period in 2024.
Previously, the charge mainly affected established banking institutions. However, fintech firms have been included because they have contributed a phenomenal 2,507.94 percent growth in transaction values since 2020.
The EMTL is part of the government’s attempt to regulate the booming fintech sector, which completed transactions worth $29 billion in 2023 and $49.3 billion in 2024.
The EMTL was created by the Finance Act 2020 as an amendment to the Stamp Duty Act. It charges $0.03 (N50) for electronic transactions of $6.19 (N10,000) or more made through banks and financial institutions.
This tax seeks to capitalise on the increasing expansion of electronic payments, which will exceed $619.70 billion in total transactions by 2024.
In response to the burgeoning fintech sector, the government has increased its tax base, with annual EMTL collections expected to increase by 31.35 percent.
According to the Medium Term Fiscal Framework for 2025-2027, the federal government expects EMTL revenue to reach $142 million in 2025, up from $108 million in 2024.
However, industry experts have expressed concern about the potential impact of additional taxes on users.
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