Business

Unity Bank Holds 10th Edition of Corpreneurship Challenge; Agropreneurs, Others Win N10M Business Grant

Published

7 hours ago

November 20, 2023

Unity Bank Plc has extended N10 million business grant to 30 members of the National Youth Service Corps, NYSC, who took part in the 10th edition of the Bank’s flagship Entrepreneurship Development Initiative, known as Corpreneurship Challenge.

The winners, including upcoming entrepreneurs developing innovative solutions in several business value chains such as Honey production, Rice, and Snail farming, among others, claimed top positions after participating in a business pitch that took place across 10 state NYSC Orientation Camps – Katsina, Kano, Kwara, Imo, Rivers, Delta, Sokoto, Edo, Akwa-Ibom, and Osun recently.

At the NYSC Orientation camp at Ikot Itie Udung, Nsit Atai, Akwa Ibom State, Azegba Chimuanya Perpetual, who pitched business on honey production emerged as the overall winner to clinch the N500,000 grand prize; while Iyorwa Kater Israel, a budding commercial rice farmer won N300,000 grant. Similarly, Egelonu Emmanuel Friday walked away with a N200,000 grant to support his Snail farming business.

In the remaining nine states, no fewer than twenty-seven other winners also emerged, after pitching business plans across various economic segments including Fish production, Poultry farming, Fashion, Soap and Cake making, Printing, Piggery, Beverage making, etc.

The Unity Bank Corpreneurship Challenge, which has proved its invaluable social benefit as an entrepreneurship development and job creation platform since its inception receives applications from thousands of serving NYSC Corp members. These business plans are then evaluated based on their originality, marketability, future employability potential of the product, and knowledge of the business.

Speaking during the grand finale in Akwa Ibom State, Unity Bank’s Head of Retail and SME Banking Group, Dr. Opeyemi Ojesina said the Unity Bank Corpreneurship Challenge has earned its pride of place in Nigeria as one of the country’s foremost business incubation platform and entrepreneurship development.

He said, “Unity Bank has sustained this Corpreneurship Challenge for the past five years, and throughout the period we have witnessed the tremendous impact it has had on youth empowerment and job creation in the country. And I believe that the innovative approach to entrepreneurship which the programme has adopted has enabled us to seamlessly integrate financial support, mentorship, and skill development to foster the growth of aspiring entrepreneurs.”

He added, “At its core, the initiative addresses the unique challenges faced by small and medium-sized enterprises, as they recognize the sector as the backbone of economic development. And Unity Bank’s commitment to financial inclusion is exemplified through tailored financial solutions that empower corp members to actualize their business dreams.”

Ojesina further explained that “the mentorship provided to participants adds unparalleled value, as it connects corp members with seasoned professionals who provide insights, guidance, and a roadmap for success,” emphasizing how Unity Bank recognizes that true empowerment extends beyond financial assistance to honing entrepreneurial skills”.

The Corpreneurship Challenge has earned the Bank national recognition for its impact on youth empowerment and job creation, just as the scheme continues to elicit growing interest among the corps members, attracting over 2000 applicants and participation in every edition.

In partnership with the NYSC Skill Acquisition and Entrepreneurship Development, SAED, the initiative prominently features a business pitch presentation that provides the participants with the opportunity to present their business plans and stand a chance to win up to N500,000 cash in the business grant.

So far, Unity Bank has invested over N100 million in the initiative which has now produced 148 winners since it was launched.

The post Unity Bank Holds 10th Edition of Corpreneurship Challenge; Agropreneurs, Others Win N10M Business Grant appeared first on Jomog.

Business

Black Market Dollar To Naira Exchange Rate Today 16th November 2023

Published

5 days ago

November 16, 2023

Pamilerin Fedpolygist

What is the Dollar to Naira Exchange rate at the black market also known as the parallel market (Aboki fx)?

See the black market Dollar to Naira exchange rate for 15th November, below. You can swap your dollar for Naira at these rates.

How much is a dollar to naira today in the black market?

Dollar to naira exchange rate today black market (Aboki dollar rate):

The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players buy a dollar for N1132 and sell at N1137 on Wednesday 15th November 2023, according to sources at Bureau De Change (BDC).

Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.

Dollar to Naira Black Market Rate Today

Buying Rate N1132
Selling Rate N1137

Dollar to Naira CBN Rate Today

Buying Rate 843
Selling Rate 844

Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.

The post Black Market Dollar To Naira Exchange Rate Today 16th November 2023 appeared first on Jomog.

Business

Five Millionaires emerge in Polaris Bank’s ongoing ‘Save & Win’ Promo

Published

6 days ago

November 15, 2023

Pamilerin Fedpolygist

Five lucky Nigerians at the weekend hit a fortune when they emerged Millionaires in the ongoing Polaris Bank Save & Win Promo.

The live quarterly draw of the ongoing Polaris ‘Save & Win’ promo which took place at the Bank’s headquarters Annex, Alausa Ikeja at the weekend in Lagos, further underscored Polaris Bank’s dedication to fairness in all its promotions and activities.

The development is in line with the Bank’s commitment to rewarding its loyal customers across the nation.

The winners emerged through a draw exercise which was witnessed by its representatives and relevant Agencies of government; Federal Competition & Consumer Protection Commission (FCCPC), National Lottery Commission (NLRC) and Advertising Regulatory Council of Nigeria (ARCON) who confirmed that the 5 lucky winners were selected across Nigeria’s various regions spanning the geo-zones

Each winner received a cash prize of N1,000,000. During the draw, the lucky winners were called at random using a hybrid media technology which enabled in-premises event; as well as participation of over 1221 customers through the Bank’s virtual network and social media handles.

One of the lucky millionaires commended the Bank in putting in place the promo at this time which he said was relevant saying “Thank you to Polaris Bank for making me a millionaire. I never expected this surprise. This money definitely came in at the right time, I will tell my friends to open accounts with Polaris Bank and participate in the promo so we can all become millionaires.”

Speaking at the live draw event, the representative from FCCPC; Susie Onwuka said, “We’ve been monitoring Polaris Bank since the promo started and it has been fair, they comply to rules and guidelines. Customers should feel free and confident to participate in the promo”.

During the unveiling of the lucky millionaires, Polaris Bank’s Chief Digital Officer (CDO), ‘Dele Adeyinka also expressed the Bank’s commitment to encouraging a culture of savings among its customers. “The Polaris Bank Save & Win promo is not just about rewarding customers; it’s also about encouraging our customers to save for the rainy day”.

The CDO emphasized that customers can still participate in, or increase their chances of winning by depositing a minimum of N10,000 in their Savings account. He also noted that non-customers of the Bank can participate for a chance to win in the draws by opening a Polaris Savings account with N2,000 and growing same to N10,000 before the next draw date.

The representatives of the regulatory bodies commended the Bank for making good its promise to winners of the draws.

For those wishing to be part of the Campaign and stand a chance to also become millionaires, below are four (4) ways to participate in the ongoing Polaris Save & Win promo:

1. Download VULTe on iOS and the App store to open a Polaris Savings Account or dial USSD *833*0# on your phone or log into Polaris Bank savings portal.
2. Grow your account by N10,000 or more and maintain for 30 days or by N10,000 for 3 consecutive months to qualify for monthly & quarterly draws respectively.

3. If your account is dormant, you can reactivate your account without visiting the Bank by simply dialing *833*30#.

4. Follow the Bank’s handles @polarisbankltd across all social media platforms or visit the website to stay updated.

Polaris Bank was adjudged Nigeria’s Digital Bank of the Year in 2023, 2022 and 2021 in BusinessDay’s Banks and Other Financial Institutions (BAFI) Awards. As a digital-forward Bank, the Bank is dedicated to forging a customer-focused future through innovative partnerships that reshape both businesses and communities.

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Business

Sterling HoldCo Shareholders Commend Leadership At Statutory Meeting

Published

7 days ago

November 14, 2023

Pamilerin Fedpolygist

Shareholders of Sterling Financial Holdings Company Plc have commended the board and management of the company for its performance in its operations and earnings, and the diversification of the group’s business lines since completing the transition to a holding company structure.

This commendation was shared at the recently held statutory meeting in Lagos.

The hybrid statutory meeting, which was held with online and physical attendance, saw the unanimous passing of the singular motion of the day; the adoption of the statutory report for the meeting, presented by the shareholders of the holding company.

Addressing the shareholders of the company, Chairman of the board, Yemi Adeola, thanked the company’s shareholders for their support during the journey to the successful transition to a financial holding company, highlighting the launch of The Alternative Bank; Sterling HoldCo’s ethical banking subsidiary, in increasing shareholder value.

Also in attendance at the meeting, Group CEO of Sterling Financial Holdings Company, Yemi Odubiyi, addressed the opportunities the transformation presents with the potential diversification into other business lines along with the commercial and ethical banking licenses operated by the company.

L-R: CEO, Sterling Bank LTD, Abubakar Suleiman; Group CEO, Sterling Financial Holdings Company, Yemi Odubiyi; Chairman, Sterling Financial Holdings Company, Yemi Adeola; Company Secretary, Temitayo Adegoke; and Executive Director/Chief Operating Officer, Sterling Financial Holdings Company, Olayinka Oni, at the Statutory General Meeting for Sterling Financial Holdings Company held in Lagos recently.

During the meeting, Dr. Faruk Umar, President of Association for the Advancement of the Rights of Shareholders (AARNS), commended the company for its transition into a Holdco structure. He added that the change would enable Sterling to diversify its operations into other sectors of the Nigerian economy.

Dr. Umar praised the group for the successful launch of The Alternative Bank (TAB) in Lagos, Abuja, and Kano, highlighting the potential profitability of the initiative as well as an appreciation of the board and management of the group for the appointment of Yemi Adeola as board chairman. He also noted Mr. Adeola’s significant contributions to the growth and development of Sterling Bank during his tenure as CEO, expressing confidence in the group’s continued growth trajectory under his leadership.

Dr. Umar also commended the Company Secretary, Mrs. Temitayo Adegoke, and the Chairman of the Statutory Audit Committee, Alhaji Mustapha Jinadu, for effectively communicating with shareholders about developments in the group during the transition from inception till completion.

Dr. Umar concluded by expressing the shareholders’ contentment with the board’s composition, and expressed hope that they would receive support in advancing the institution, pointing out that the transition has already yielded positive results with a rise in the HoldCo’s share prices on the floor of the Nigerian Exchange Limited (NGX).

Other shareholders who spoke at the meeting echoed Dr. Faruk’s remarks, with Mr. Matthew Akinlade stressing the importance of enhancing risk management practices, particularly with the emergence of more subsidiaries in the group; Mrs. Bisi Bakare Oluwayemisi spoke on the need for building resilience and diversifying earnings within the group, underscoring the robust nature of the Holdco structure; while Mr. Adeleke Adebayo encouraged the group to leverage the entire financial landscape to become a comprehensive financial services provider.

With the adoption of the Holdco structure now in full effect, Sterling now possesses the latitude to make inroads into other sectors within financial services, such as pensions, asset management, payment services, real estate, and different verticals, along with the current banking licenses held by the commercial and ethical banking subsidiaries; Sterling Bank and The Alternative Bank, which will operate as limited liability companies within the publicly traded holding company.

A holding company, or Holdco, is a company set up to make and manage, for its account, equity investments in two or more companies, which are its subsidiaries, engaged in the provision of financial services, one of which must be a bank.

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