Ecobank Offers Back-to-School Loan Packages to Parents
By Aduragbemi Omiyale
The desire to ease the financial burdens of parents and guardians as regards the payment of school fees of their children and wards for the 2021/2022 school year has made Ecobank Nigeria come up with affordable loan packages.
The Head of Consumer Banking at Ecobank Nigeria, Mrs Korede Demola-Adeniyi, explained that the introduction of the credit facility is in line with the lender’s overall strategy to support the development of the nation’s education sector.
A statement from the financial institution disclosed that the loan packages were designed under its back-to-school initiatives and are also available to school owners through special infrastructure loans.
“As a bank that has the interest of its customers at heart especially at this period when schools resume, we understand the importance of education. Children deserve to go to school and we are making it easy for parents to provide them with this basic right,” she said.
Speaking specifically on the loans available for the educational institutions, she noted that they could be accessed without bottlenecks as the bank has taken into cognisance the harsh effects of the COVID-19 pandemic.
Mrs Demola-Adeniyi urged schools to appoint the bank as their preferred financial institution for payments and collections, noting that Ecobank has demonstrated pedigree and expertise in fees collection, locally and internationally.
She further encouraged schools and individuals that are yet to open Ecobank accounts to do so in order to access the offers available.
The banker also said Ecobank’s digital offerings are targeted at reducing the financial burden on parents, students and schools, and also facilitating the ease of payment of fees without hassles.
She listed the digital offerings to include Ecobank Mobile App, EcobankPay and Ecobank Online for contactless fees payment; personal loans and salary advance packages at competitive interest rates, international transfers for offshore school fees payment and affordable remittance offerings.
Mrs Demola-Adeniyi also noted that families abroad who wish to send money home to help with fees can do so at zero charges on the Rapidtransfer app.
The bank has also provided the banking-for-school pack for educational institutions to access working capital and loans. The features of this pack include easy fee collections, zero charges on collection accounts with EcobankPay, secure online banking with Omni Lite and cards for easy payments.
Polaris Bank, Union Bank Restate Commitment to Environmental Sustainability
By Adedapo Adesanya
In commemoration of the 2023 World Environment Day, observed yearly on June 5, Polaris Bank, one of Nigeria’s leading digital financial institutions, has restated its commitment to environmental sustainability in the country.
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 was 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 said it is taking 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, said it has invested in waste management, plastic collection, renewable energy adoption, education, inclusivity, and carbon reduction. The Bank contributes to individuals’ needs and societal goals by implementing sustainable practices and guidelines 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 using solar energy to power security lights, some ATMs and business locations, and implementing automated systems and digital alternatives to paper output, the bank actively mitigates waste generation and reduces its carbon footprint.
“Polaris Bank has streamlined its vehicle fleet to further minimise its carbon footprint, 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 lender took its commitment a step further by partnering with some organizations to help it provide clean water and sanitation in some communities. Its Corporate Social Responsibility (CSR) projects are clearly spelt out to reflect adherence to environmental 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.”
On its part, Union Bank of Nigeria partnered with the Nigerian Conservation Foundation (NCF) to celebrate the day.
To create awareness of environmental responsibility and encourage collective action, Union Bank employees, together with the Nigerian Conservation Foundation, volunteered to educate students at Aguda Junior Grammar School, Surulere, Greg Girls Junior High School, Surulere, and Okun Ajah Community Senior Secondary School, Okun Ajah.
The students were educated on the detrimental effects of plastic pollution on the environment, highlighting the importance of reducing plastic consumption, reusing plastic, and practical tips for sustainable recycling.
The bank also donated waste bins to each school to encourage recycling and make it easier for students to do their part in reducing plastic waste.
Speaking on the Bank’s activities to mark World Environment Day, Union Bank’s Chief Brand and Marketing, Ms Olufunmilola Aluko, said, “At Union Bank, we are resolute in our commitment to being a sustainability champion. This year’s focus on tackling the pervasive issue of plastic pollution resonates deeply with our commitment to environmental sustainability.
“We proudly partner with NCF to educate students on solutions to beat plastic pollution. By raising awareness and advocating for responsible plastic waste management, we can collectively and significantly preserve our planet for future generations.”
With its focus set on the future, Union Bank said it committed to leading the way in shaping a better, more sustainable future for generations to come.
Stanbic IBTC Strongly Advocates Financial Literacy Among Children
By Modupe Gbadeyanka
A member of Standard Bank Group, Stanbic IBTC Holdings, has strongly backed the promotion of financial literacy among children, emphasising its unwavering commitment to the upliftment and empowerment of the Nigerian child.
The Head of Client Experience at Stanbic IBTC Pensions, Ms Layo Ilori-Olaogun, while speaking recently at the company’s Blue Kids event to commemorate the 2023 Children’s Day, said that was why the financial institution designed various innovative initiatives for the nation’s future leaders.
She said one of these initiatives is the Children Educational Savings Scheme (CHESS) account, a special savings account developed to support parents in meeting the cash flow and timing needs of their children’s education.
Available for kids between ages zero (0) and 17 years, CHESS offers a low opening balance, a one per cent interest rate above the average savings account, a MasterCard debit card for easy access to funds, round-the-clock access to the customer care centre via phone, email and social media and full digital banking access – Internet, App and USSD, amongst other benefits.
In 2020, Stanbic IBTC kicked off the Stanbic IBTC Education Trust (SET) scheme, a convenient and flexible investment plan with long-term benefits designed to support parents and guardians striving to provide quality education for their children and wards.
One unique benefit of Stanbic IBTC Education Trust is that payments are effected directly to the institution of learning, ensuring no diversion of funds. Whether it is primary, secondary, tertiary, or post-graduate education, parents and guardians can now contribute to funding their children’s and wards’ education.
Ms Ilori-Olaogun described Stanbic IBTC’s Education Endowment Assurance as another remarkable initiative and a vehicle for saving that secures a child’s future education to a targeted amount. It is a policy that guarantees peace of mind on a child’s/ward’s education and benefits one’s dependents in case of death.
Also at the event, the Head of Personal Clients at Stanbic IBTC Bank, Mr Emmanuel Aihevba, expressed his heartfelt wishes to all Nigerian children, emphasising their importance to the nation’s progress.
“Children’s Day serves as a poignant reminder of the importance of nurturing and safeguarding the younger generation, who represent the future leaders and change-makers of the country.
“Stanbic IBTC recognises its critical role in promoting children’s wellbeing and educational development and remains steadfast in its efforts to provide support and resources that contribute to their growth,” he said.
At the Blue Kids programme, the participants were engaged in innovative and exciting activities such as a creative class, gaming activities, a financial fitness session and more.
Zenith Bank’s Ebenezer Onyeagwu Emerges Best Banking CEO in Africa
By Modupe Gbadeyanka
The International Banker has announced the Group Managing Director/Chief Executive Officer of Zenith Bank Plc, Dr Ebenezer Onyeagwu, as the Best Banking CEO of the Year in Africa.
Published by Finance Publishing Limited, the International Banker is a leading global source of authoritative analysis and opinion on banking, finance and world affairs. Its influence, integrity, accuracy and objective opinion have earned it global recognition.
In its International Banker 2023 Banking Awards, published in the Spring 2023 issue of the International Banker Magazine, Mr Onyeagwu was honoured alongside other individuals and banks from the Middle East and Africa.
The Nigerian banker, while commenting on the honour bestowed on him, said the award “reflects the bank’s position as a leading financial institution in Nigeria and the African continent.”
“It also attests to our commitment to principles of sustainability and high ethical standards, which have become integral to our overall strategy as an institution,” he added.
Mr Onyeagwu dedicated it to the founder and Chairman of Zenith Bank, Mr Jim Ovia, for his guidance and mentorship.
He also dedicated the award to the bank’s management team and staff for being the shoulder upon which his achievements and success as CEO rests, and the bank’s customers for making Zenith Bank their bank of choice.
This latest award is coming barely three months after he was conferred with a Doctorate Degree in Business Administration by the University of Nigeria, Nsukka.
The degree was in recognition of his immense achievements as the head of Zenith Bank as well as his contributions to the growth of the financial services sector in Nigeria and across the African continent.
Mr Onyeagwu’s outstanding career has led to him receiving multiple awards, including Bank CEO of the Year (2019) by Champion Newspaper, Bank CEO of the Year (2020, 2021 & 2022) by BusinessDay Newspaper, CEO of the Year (2020 and 2021) – SERAS Awards, and CEO of the Year (2022) – Leadership Newspaper.
As the GMD of Zenith Bank, he has led the tier-one lender to achieve tremendous feats and milestones in financial performance, including 47 per cent growth in the bank’s market capitalisation in four years, financial inclusion, corporate governance and sustainability.
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