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Polaris Bank launches agency banking solution

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…Unveils “SurePadi”

 

As part of its digital banking strategy, Polaris Bank recently introduced its Agency Banking Solution to serve as a vehicle to reach the unbanked and underbanked, as well as deepen financial inclusion across Nigeria.

The Polaris Agency banking solution known as “SurePadi” is designed to provide convenient and easy access to funds and other banking services in far-flung neighbourhoods, through partnerships with existing and new retail outlets. Research shows that lack of accessible financial service points is a key factor responsible for Nigeria’s high financial exclusion rate.

According to the Chief Digital Officer of Polaris Bank, Mr. Dele Adeyinka, “The introduction of SurePadi is in line with our plan to deepen financial inclusion by serving the huge unbanked and underbanked population especially in locations where basic banking services are far from reach.”

Mr. Adeyinka further stated that: “With Nigeria’s financial exclusion rate currently at 36.8 percent according to CBN, the goal of achieving 20 percent this year to close the exclusion gap of 16.8 percent is also a factor driving our SurePadi Banking Solution.”

“The SurePadi banking solution is also one of the ways we are helping to reduce unemployment in the country because when you sign up an agent, one of the benefits is that it provides a means of earning additional disposable income,” he added.

Agency banking service is a convenient way of providing limited banking services to customers through the use of Agents who usually are non-traditional bankers or banking businesses.

Services offered by SurePadi include; account opening, funds transfer, deposit funds; cash withdrawals, bills payment, airtime top up amongst other services. SurePadi Agents earn additional income in addition to improved status in the community through brand affiliation with Polaris Bank.

Customers on the other hand will enjoy the convenience and ease that comes with the service, plus low cost of transacting as they are able to save the cost of transportation to banks; they are also able to  access funds  anytime of the day, beyond banking hours (weekends and public holidays).

A SurePadi Agent can be a registered business such as Limited Liability Company, sole proprietorship, partnership, cooperative society, a large retail distribution network, petrol filling stations (Preferably one with a Supermarket or Store) and dealers in FMCG. In addition, unregistered businesses or individuals including supermarkets, retail outlets, and distributors of mobile network operators, business centers, boutiques, provision shops, and sport viewing centers also qualify to be a SurePadi Agents.

Customers wishing to become Polaris SurePadi Agents, are advised to visit the nearest Polaris Bank branch with a passport photograph and a valid means of identification: driver’s license; national identity card, International passport or voters’ card and utility bill (Not less than three (3) months from time of presentation).

Polaris Bank is a future-determining Bank committed to the delivery of industry-defining products, and services, across all the sectors of the Nigerian economy.

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BUSINESS

Keystone Bank restates commitment to environmental sustainability

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Keystone Bank restates commitment to environmental sustainability
Keystone Bank staff planting Mahogany trees at the Nigeria Conservation Foundation in Lagos, recently.

Keystone Bank Limited, Nigeria’s most innovative banking services provider, has restated its commitment to environmental sustainability as it recently embarked on tree planting campaign.

According to the lender, the event which saw staff of the bank plant trees at the Nigeria Conservation Foundation in Lagos, is in line with its bid to further align with the Sustainable Development Goal 15, which stresses the call by the United Nations to protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, halt and reverse land degradation, halt biodiversity loss and ultimately for environmental sustainability.

Commenting on the initiative, Keystone Bank executive director, Adeyemi Odusanya said: “As a bank, our goal is to lead the movement promoting environmental sustainability in Nigeria and we are clearly going to sustain that.

“One of the ways to sustain this initiative is by planting trees to preserve the environment. Tree planting remains a strong tool to tackle the effect of climate change. Climate change is the most significant material risk to the future because it poses most devastating threat to human survival.

“Keystone Bank fully aligns itself with the UN ideology.

“We cannot live a healthy life, conduct business and create wealth amidst a sick environment. Hence, this gesture is our commitment towards a sustainable future that will benefit all,” Odusanya noted.

Keystone Bank is a technology and service-driven commercial bank offering convenient and reliable solutions to its customers.

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BUSINESS

Court orders Fidson Healthcare to pay ex-staff N4 million

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Court orders Fidson Healthcare to pay ex-staff N4 million

Benin Judicial Division of the National Industrial Court of Nigeria led by Justice Abiola Adewemimo has ordered Fidson Healthcare Plc to pay the sum of N4 million to its former employee, Mr Obateru Olufemi Abidemi, for illegally withholding his first degree certificate despite asking for it to be returned to him.

The Witness gathered that Mr Abidemi worked with Fidson as a pharmacist for over two years and one of the conditions for getting the job in August 2007 was for him to deposit his Bachelor of Pharmacy degree certificate with the company.

However, trouble started after he resigned in December 2009 and his three letters to Fidson between 2013 and 2016 demanding for the return of his original certificate were ignored.

This forced him to file a complaint before the court in January 2018, claiming his fundamental right had been violated by the defendant.

He also said the refusal of the drug-making company has made him to suffer psychological trauma, mental pains, distress, embarrassment and inconvenience. He therefore, asked the court to direct the company to return his certificate and pay him the sum of N5 million as general damages.

But Fidson, in its defence, denied all the allegations, saying it held the certificate because the claimant had an outstanding indebtedness of N9.234 million after reconciliation of the accounts.

According to Fidson, on several occasions, the claimant sold goods to customers and refused to remit the proceeds to the company as a result of which, he was asked to proceed on two weeks suspension without pay with effect from July 7, 2009.

The company informed the court that on December 28, 2009, the claimant suddenly resigned his appointment without clearing the alleged debt, which the claimant denied.

In her ruling, Justice Adewemimo dismissed Fidson’s counter-claim, emphasising that, “The refusal of the defendant to release to the claimant, his original Bachelor of Pharmacy certificate is unlawful.”

The judge further held that, “The defendant is hereby ordered to within 72 hours of this judgment, release to the claimant, his Bachelor of Pharmacy certificate.

“The defendant is hereby ordered to pay to the claimant the sum of N4,000,000 (Four Million Naira) as general damages.

“All judgment sums awarded in this suit shall be paid within 30 days failure upon which it will attract a 10% interest per annum.

“A cost of N200,000.00k cost is hereby awarded against the defendant.”

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BUSINESS

Contempt: Wema Bank’s MD, 6 other official must appear Tuesday – Court

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Contempt: Wema Bank’s MD, 6 other official must appear Tuesday – Court

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There is no reprieve yet for the Wema Bank Plc and its seven officials cited for contempt, as a Federal High Court sitting in Lagos, Southwest Nigeria reinforced its order compelling the said official to appear before the court on Tuesday to explain why committal to prison order should not be made against them.

When the matter was mentioned on Monday, only the Secretary of the bank, Johnson Lebile was present.

Other officials of the bank charged for contempt are Ademola Adebise, managing director; Moruf Oseni, deputy managing director; Wole Akinleye, executive director and Folake Sanu, executive director.

Lebile told the court that the chairman of the bank, Babatunde Kasali travelled abroad, why other Directors ordered to appear before the court today are not available.

He explained to the court that the bank refused to obey the order of the court to pay the judgement sum because the bank had filed an appeal against the ruling of the court and also filed stay of execution of the judgement of the court.

However, the lawyer to the bank officials cited for contempt, Mr. Wemimo Ogunde, suggested to the court that he could advise Wema Bank to pay the judgement sum into the account of the Chief Registrar of the court, since there was appeal against the judgement of the court and application for stay of execution of the said judgement and other pending application so that the outcome of the appeal would not be made nugatory.

However, the counsel to Heritage Bank, Chief Ajibola Aribisala SAN, in a counter argument told the court that the business of the day was for the parties cited for contempt to appear before the court to explain why they should not be sent to prison for flagrant disobedience of order of the court.

He urged the court to issue bench warrant against those officials that were not in court, while the Company’s Secretary present in court should be sent to prison to show that the court was not a toothless bulldog.

In his reaction, Ogunde, while citing certain rules of the court said last Friday, the court issued order compelling the officers of Wema Bank cited for contempt to appear before the court and that by virtue of the rule of the court Sundays and public holidays were not to be counted, saying that in view of this provision, the time for them to appear would expire tomorrow.

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