Olushola Okunlade Writes

FirstBank of Nigeria has reacted to deteriorating and sensational reports by some online publications on a charge bought against the bank.

The said online publication was sponsored by a delinquent debtor whose intention is to taint the image of the bank.

The bank in its statement released to ROTAMEDIANEWS stated that “We will not be able to offer further comments as the matter is sub-judice.

FirstBank resolved to calm in addressing the matter with necessary action since the basis of the charge is a spurious allegation made by a delinquent debtor to embarrass the Bank and taint the Bank’s loan recovery efforts and legal enforcement of its security collateral interest in accordance with the terms thereof.

FirstBank assures numerous customers, stakeholders, and the general public that the bank continues to operate by the highest standards of ethical conduct and will under no circumstances involve itself in any act of illegality just as it will take necessary legal steps to check any attempt by recalcitrant debtors to fritter away depositors’ funds under its custody.

The bank remains focused on its mission of providing the best financial services to its numerous customers.

Sterling Bank Plc, has just announced that it requires a short extension outside the deadline for filing its Annual Financial Statements (AFS) for the year ended 31st December 2022.

This was contained in a copy of the bank’s letter to the Nigerian Exchange (NGX) filed on the 29th of March, 2023.

Company Secretary and Chief Legal Officer, Ms. Temitayo Adegoke, assured stakeholders and the public that the organisation is diligently working with its auditors, Deloitte, to finalise the AFS by the revised deadline of 30th April 2023.

She emphasised that the bank’s commitment to regulatory compliance and transparency remains its top priority.

The letter to the Nigerian bourse further stated that “In continuing compliance with the post listing requirements of the NGX, the previously announced closed period which commenced on 1st of January 2023 will continue until 24 hours after the AFS for the year ended 31st of December 2022 is released on the floor of the Exchange.”

The extension request, due to external factors and new processes, is on the back of the Bank’s impressive financial performance contained in its earlier released unaudited full-year 2022 results, with the bank reporting a 39% increase in pre-tax profits. This achievement marks Sterling’s fifth consecutive year of growth, attributed to customer-focused innovation and the successful execution of the HEART of Sterling strategy. Through strategic investments in Health, Education, Agriculture, Renewable Energy, and Transportation sectors, the bank continues to create value for shareholders and contribute significantly to the Nigerian economy.

Sterling Bank eagerly anticipates new opportunities and, by leveraging regulatory guidance, is well-positioned to capitalise on these prospects within a well-structured framework for long-term growth and success.

Shareholders and the public shall receive by the revised date, a thorough and comprehensive financial report that reflects the bank’s ongoing commitment to sterling performance, excellence, innovation, and growth.

… donates books to libraries of 37 Secondary Schools nationwide

Polaris Bank has continued to deepen its financial advocacy role of educating and inculcating in young Nigerians the culture of savings, investment, and financial awareness during the 2023 Global Money Week (GMW) event.

The week-long activity, which kicked off last Monday, March 20, and ended on Sunday, March 26, 2023, had ‘Plan Your Money, Plant Your Future’, as its theme.

The Financial Literacy sensitization campaign is an annual programme organized worldwide to raise awareness and sensitize students on the need to be financially independent and empowered. Employees of the Bank visited schools across the country to speak on financial literacy and allow teens and students to gain knowledge and understanding of topics such as: how money works, how someone can earn or make money as well as money management, including – planning and budgeting – and how to invest money, amongst others.

Polaris Bank, in partnership with the Central Bank of Nigeria and program execution Partner, Junior Achievement of Nigeria (JAN), reached and educated over 4000 students in 37 Schools across Nigeria, including the Federal Capital Territory (FCT). Polaris Bank Senior officials, during the campaign, interacted with students and teachers to commemorate the GMW and donated books to the libraries of all the schools they visited.

Global Money Week is an annual global awareness-raising campaign on the importance of ensuring that young people, from an early age, are financially aware and are gradually acquiring the knowledge, skills, attitudes and behaviors necessary to make sound financial decisions and ultimately achieve economic well-being and financial resilience. The activities for the 2023 GMW were observed in all branches of Polaris Bank nationwide.

Through its numerous CSR and social investment initiatives, Polaris Bank, in addition to rolling out innovative banking products and services for customers across different strata, has demonstrated a commitment to enhancing the quality of life for Nigerians outside of its traditional function of providing financial services.

Polaris Bank is a future-determining Bank redefining banking products and services that meet the needs of individuals and businesses. The Bank was adjudged Digital Bank of the Year in 2021 and 2022