Banking
Polaris Bank Deepens Customer Relations With Global Trade Forum
By Aduragbemi Omiyale
As part of its commitment to delivering exceptional customer experience through deeper engagement and partnership with its customers, Polaris Bank Limited recently held a Global Trade Forum in Ibadan, Oyo State.
The event afforded the bank’s customers from Oyo, Kwara, Osun, Ogun, Ekiti, and Ondo States to learn more about the various financial solutions on the ground to scale up their businesses.
It also provided a unique opportunity for Polaris Bank customers to engage directly with bank leaders, gain valuable insights, and explore new avenues for business growth.
“This forum is part of our broader mission to deepen customer relationships and ensure that you experience Polaris Bank not just as a financial institution, but as a true partner in your success.
“We want every interaction you have with us to reflect excellence, empathy, and innovation,” the Executive Director for Retail and Commercial Bank at Polaris Bank, Mr Chris Ofikulu, stated.
“Your presence here today reflects the deep trust and strong partnership and bond you share with Polaris Bank. We sincerely appreciate your continued support,” he added.
Also speaking, the Trade Services Officer at the company, Mr Olaleye Arinola, while educating the participants on the Pan African Payment and Settlement System (PAPSS), described this initiative as a platform designed to simplify cross border payments within Africa.
“PAPSS allows businesses to make payments in local currencies, eliminating conversion costs and supporting intra African trade. It is fast, secure, and designed to promote business growth across the continent,” he noted.
Commenting on the lender’s operational services, particularly in trade facilitation, the acting Divisional Head of Operations, Mr Ayo Adesanya, said Polaris Bank assists customers to verify trade documents and offers payment services at minimal percentage costs.
“We are committed to simplifying the trading process for our customers by ensuring that documents are properly verified and offering the option to pay on your behalf for a small fee,” he stated.
The Sector Lead for Agric Exports, Manufacturing and General Commerce, Mr Anthony Anichebe, underscored the bank’s role in supporting African businesses, highlighting the importance of exports to Nigeria’s economy and how Polaris Bank provides tailored financial solutions to foster growth in the sector.
“Exports are key to the diversification of our economy, and Polaris Bank is here to support your export initiatives with solutions that help you navigate international trade,” Mr Anichebe stated.
In his speech, the Head of Treasury at Polaris Bank, Mr Olayemi Agbe Davies, noted positive trends in the Nigerian economy such as improved oil production, gradual inflation slowdown, and growing foreign reserves.
“The outlook is promising, and Polaris Bank is here to support your business through trade finance, treasury solutions, and currency management,” he added.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
By Adedapo Adesanya
Nigeria’s Bank Verification Number (BVN) enrolment has slowed significantly in 2026 following the introduction of a stricter regulatory framework by the Central Bank of Nigeria (CBN), with the latest data from the Nigeria Inter-Bank Settlement System (NIBSS) showing that registrations are on course to fall well below last year’s record.
The BVN database stood at 69.55 million as of July 5, 2026, up from 69.32 million in June, indicating that only 228,947 new registrations were recorded over the period. Since the end of 2025, when the database stood at 67.8 million, total enrolments have increased by 1.75 million.
At the current pace, however, BVN registrations are unlikely to match the 4.3 million new enrolments recorded in 2025, suggesting a sharp deceleration in growth this year.
The slowdown comes after the CBN introduced a revised BVN regulatory framework in March, with the new rules taking effect on May 1, 2026. The framework tightened controls around enrolment, identity verification and fraud monitoring as part of efforts to strengthen the integrity of the banking system.
Among the key changes was the introduction of a minimum enrolment age of 18 years, effectively preventing minors from registering for a BVN.
The new framework also limits customers to a one-time change of the phone number linked to their BVN and requires financial institutions to place BVNs linked to suspected fraudulent transactions on a temporary watch-list for up to 24 hours while investigations are carried out.
The stricter rules contrast with last year’s surge in registrations, which was largely driven by the introduction of the Non-Resident Bank Verification Number (NRBVN) initiative that enabled Nigerians in the diaspora to complete BVN enrolment remotely, removing physical barriers and expanding access to the financial system.
Launched on February 14, 2014, the BVN scheme was introduced by the CBN in collaboration with the Bankers’ Committee, NIBSS and German technology firm Dermalog to assign every bank customer a unique biometric identity that can be verified across Nigeria’s banking industry.
