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Polaris Bank Commences Agency Banking Solution

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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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Suspected kidnappers abducts 10 travellers in Ondo

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Ondo

No fewer than 10 passengers have been abducted by gunmen along the Owo-Benin highway in Ose Local Government Area of Ondo State.

The gunmen reportedly attacked the commercial bus the passengers were travelling in after which they were marched into the bush.

It was gathered that the passengers were on their way from Akwa Ibom to Akure when the incident happened.

One of the sources, who craved anonymity, disclosed that the driver of the space bus had initially thought that the gunmen were security operatives but realised that they were criminals when they shot sporadically into the air.

” They were kidnapped on the Owo-Ipele road on Saturday morning at about 12 am. Their vehicles were stopped, and they were dragged into the bush to an unknown destination.

“The hoodlums ambushed them and whisked all the occupants of the vehicle into the bush. All the occupants of the vehicle were abducted and nobody heard anything about them since then.

However, the police image maker in the state, Funmilayo Odunlami, however, stated only seven people were kidnapped.

“The police received information that a vehicle was attacked along the Owo/Ifon road, and seven people were suspected to have been abducted.

“Seven travellers were involved; they were coming from Akwa Ibom State in a commercial bus. Our men are already making efforts to rescue the victims from the kidnappers and arrest the perpetrators.”

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Banditry: End insecurity by 2025 ending – Tinubu gives military marching orders

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President Bola Tinubu has issued marching orders to the military to end banditry and general insecurity by the end of 2025.

This was disclosed by the Minister of Defence, Abubakar Badaru, in a viral video.

Following Tinubu’s order, Badaru said the military will continue its onslaught against bandits and all forms of criminalities.

The Minister said bandits are currently on the run and that the military won’t stop until they are all flushed out.

According to Badaru: “The bandits are now on the run, but the military will not rest until we end this thing. The president has given us marching orders to end insecurity in every part of our country by the end of this year.

“The Chief of Defence Staff, NSA are working day and night to actualize that target, as you have seen we are putting pressure on all the theatre operations.

“And indeed, mining activities have been lifted in Zamfara already and this is part of the reason we are meeting today to look at all areas where we have serious security issues and how best we can secure those areas.”

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50% telecom tariff hike: NATCOMS backs decision as NLC bows to FG’s pressure

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The Nigeria Labour Congress bowed to pressure to halt its planned Tuesday nationwide protest against the 50 percent telecommunication tariff hike.

Also, the National Association of Telecoms Subscribers backed the decision by the organized Labour.

Gatekeeper reports that the NLC signed a Memorandum of Understanding with the Federal Government after a meeting with the Secretary to the Government of the Federation on Monday night.

In the MoU signed by the SGF, Senator George Akume, NLC president Joe Ajaero, and the Minister of Labour and Employment, Muhammadu Dingyadi, and the National Secretary of NLC, Emmanuel Ugboaja, both parties agreed to set up a technical committee to resolve gray areas in the 50 percent telecom tariff approval.

However, NLC reiterated its rejection of the tariff hike.

“Arising from the meeting convened by the Federal Government of Nigeria on the proposed 50% hike in telecommunications tariffs in the country, which the Nigeria Labour Congress (NLC) expressed strong opposition to, citing its potential negative impact on the Nigerian workers and the economy with a threat to proceed on a one-day nationwide mass protest, the following resolutions were reached: That there is a need for the parties to sit together in a technical group to resolve most of the thorny areas raised during the discussion; consequently, a 10-man joint committee was set up of five (5) representatives each from the Federal Government and the Nigeria Labour Congress (NLC); and the committee shall conclude and submit its deliberations within two (2) weeks from this 3rd day of February, 2025.

“The parties call on the Nigerian people to remain calm while this committee concludes its assignment,” the communique after the meeting stated.

Earlier, a civic society organisation known as the National Civil Society Council of Nigeria, NCSCN, had announced the suspension of its planned protest against the 50 percent tariff hike.

Recall that last week, NLC announced Tuesday, 4th February, 2025, as a date for a one-day mass protest against the telecom tariff hike.

In a notice last Thursday by NLC National Secretary, Emmanuel Ugboaja, the union had already asked the state congress and affiliate union to mobilise for Tuesday’s mass protest.

This comes after the Nigerian Communications Commission on January 2025 approved a 50 percent telecommunications tariff hike for operators.

The approval has sparked tariff hike controversy in Nigeria’s telecom sector.

NLC and other telecom subscribers had opposed the tariff implementation, citing the persistent economic hardship Nigerians already face.

Subscribers back nationwide protest suspension.

 

DAILYPOST

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