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Global Money Week 2019

Global Money Week 2019: Polaris Bank CEO, Abiru takes financial literacy campaign to Plateau schools James Abraham, Jos

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Polaris Bank Managing Director/CEO, Mr Tokunbo Abiru has stressed the need for Secondary school students in Nigeria to imbibe the culture of saving money to enable them secure their future.

Abiru made this admonition while addressing students of Government Secondary School in Tudun Wada area of Jos, the Plateau state capital on Thursday.

Expressing concern at the negative consequences which low savings culture have on adult citizens with no savings or financial investment, the top Banker assured that  Polaris Bank would continue to sustain efforts aimed at promoting financial literacy among secondary school students in particular and Nigerians in general

According to Abiru,” we have issues relating to finance which people do not know anything about. An attitude of not saving money is not good for the future. We need to learn, save and earn money. You do not save after spending but rather, you save first before spending. The idea is to catch them young in terms of educating them on finance and financial investment so that in future, their personal and financial lives can be guaranteed. To achieve this, we need to imbibe the culture of saving, no matter how small”

The Managing Director who was represented at the event by the Bank’s Group Head, North -East Zone, Mr. Olayinka Obikanye urged the students to pass the message to their friends and other family members.

He further explained that the financial sensitization campaign was part of the activities of Global Money Week, an annual program that was being organized in conjunction with the Central Bank of Nigeria (CBN) in partnership with JA Nigerian, an NGO to help raise awareness and sensitise students on the need to be financially independent and empowered.

He said: “this is an annual event. Last year, we were in Bauchi for the financial sensitization and this year, it is the turn of Plateau state. For us in Polaris Bank, we will continue to engage schools, parents and teachers, because we believe that by being financially literate, students and indeed the young ones, will be able to build their capacity for future business endeavours, thereby securing their future from poverty and other financial challenges”

He disclosed that the event is going on at the same time in the 36 states of the federation.

He further pointed that Polaris, the CBN and the entire players in the financial sector, were ready to carry out enlightenment, educate and teach students how to manage money that comes into their hands more frequently.

Earlier, the Principal of Mado Government Secondary school, Tudun Wada, Mrs. Zumunta Dancheng in her remarks, thanked Polaris Bank and CBN for bringing the idea of financial independence and literacy campaign to the door steps of the young generation in their school.

The Principal equally urged the students to ensure that the knowledge they acquired during the sensitization exercise, were put into good use.

Highlight of the program included questions and answers session and gift presentation to some of the students by the bank

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Polaris Bank Partners MOJEC on Pre-paid Electricity Meter Roll out

…signs MOU with the Meter Manufacturing Company

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 Polaris Bank has reiterated her commitment to the success of the Meter Acquisition Partners (MAP) Project by ensuring that the acquisition of pre-paid meters by Nigerians is seamless.

 The Managing Director/CEO of the Bank, Mr. Tokunbo Abiru, gave this indication at the signing ceremony of a Memorandum of Understanding (MOU) between the Bank and Mojec, a leading Meter Manufacturing Company which took place at the Bank’s headquarters in Lagos on Tuesday.

Abiru, who was represented by the Executive Director, Technology and Services, Mr. Innocent Ike, said; “Polaris Bank is pleased to be partnering with Mojec International to support consumers on the meter acquisition scheme; our Bank will be facilitating the acquisition of these meters by granting loans to eligible customers under the Programme.” Mr. Abiru applauded the commitment of the regulators and partners in the public electricity value chain towards ensuring that the pre-paid meters are made available and affordable.

Giving further insight into the bank’s involvement in the MAP project, the banker said; “Some of the advantages of using prepaid electricity meter is that it enables consumers determine their level of consumption, manage their cash flow and allocate costs appropriately.”

 Polaris CEO also noted that the initiative particularly affords the bank the opportunity to facilitate easy, convenient and seamless acquisition of pre-paid meters for consumers who before now are used to the highly discredited and estimated electricity billing system with its attendant social and economic burden.

  Also speaking at the MOU signing ceremony, the Bank’s Executive Director, Abuja and Northern Region, Abdullahi Mohammed assured Nigerians of the readiness of Polaris Bank to “leverage our wide branch network in Abuja and the whole of the Northern region to enable the roll out of the pre-paid meters”

 Earlier in their remarks, the Mojec Chairperson and Managing Director, Mrs. Mojisola Abdul and Ms. Chantelle Abdul spoke of how supportive Polaris Bank has been to the growth and success of Mojec in over a decade. They noted that with the signing of the MOU, they are confident that Polaris Bank would support Mojec to meet the expectations of Nigerians under its Bank Consumer & Retail Financing Scheme for MAP meter acquisition

 “We value our years of business relationship with Polaris and believe with the signing of the MAP MOU today we would be able to meet the expectations of Nigerians by making available pre-paid meters which they would  acquire and subsequently pay for the actual energy consumption cost in a stress-free manner”, Ms. Abdul remarked.

 Following the failure of the Advance Payment for Metering Implementation (CAPMI) project, directly executed by the DisCos, , to bridge the metering gap in Nigeria, the supervisory Ministry for Power through Nigerian Electricity Regulatory Commission (NERC) evolved MAP wherein consumers can make direct purchase from accredited Meter Assets Providers.

The Mojec meter acquisition program enables customers to apply online via a dedicated portal or walk into any of Polaris Bank branches across the country for same service.

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Polaris Bank commemorates World Cancer Day

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In commemoration of the 2019 World Cancer Day and demonstration of its unwavering commitment to the fight against breast cancer in Nigeria, Polaris Bank has encouraged Nigerians to adhere to quality eating habit and healthy lifestyle to avoid contracting cancer.

According to Cancer Research UK, “Eating a healthy, balanced diet can help you keep a healthy body weight. Keeping a healthy weight is important, because obesity is the second biggest preventable cause of cancer after smoking.
“Diet can also directly affect cancer risk. Some foods, such as processed and red meat and salt-preserved foods, can increase the risk of developing cancer.

While others, such as fruits, vegetables and foods high in fibre, can reduce the risk of cancer.”
The World Cancer Day is marked internationally every February 4 to raise awareness of cancer and to encourage its prevention, detection and treatment. The theme for this year’s event is, ‘I Am and I Will.’

A statement from the bank quoted the Managing Director/Chief Executive Officer of Polaris Bank, Tokunbo Abiru, as saying that the bank’s commitment to continuously support initiatives that will increase awareness and access of people to treatment and prevention of cancer, thereby reducing the current prevalence rate.

He said, “The fight against cancer and breast cancer is one that we will continue to support. We have a record of positive intervention in this, and I assure you that we won’t relent in ensuring that there’s a significant reduction in illness and death caused by cancer.

Polaris Bank’s contribution in the fight against cancer, is well documented. The lender has collaborated with C.O.PE on many cancer initiatives; these include support for treatment of over 30 indigent cancer patients, provision of free screening for over 15,000 women within and outside Lagos, and donation of state-of-the-art cancer screening machines – LogiQ C2 and Mind Ray Ultra-Sound System – to enhance quality diagnosis and clinical practices at the C.O.PE Centre.

The bank also supported the establishment of a Breast Cancer Information Service Centre to serve as a databank where relevant and up-to-date information on breast cancer is made available. It has further supported Seek-A-Care project, a long-term home-care delivery service offered to breast cancer patients