December 15, (THEWILL) – Polaris Bank has achieved yet another milestone by emerging as the Sectoral Winner in the Banking and Other Financial Institutions Sector category at the 2024 NECA Annual Employers’ Excellence Awards.
The Bank received the sectoral recognition for its innovative HR practice at the NECA’s Excellence Awards, (the 4th edition) which held recently at the Balmoral Convention Centre, Ikeja.
The recognition is particularly significant as it marks the first award the Bank has received for its efforts in Human Resources Management, reaffirming Polaris Bank’s commitment to creating a people-oriented workplace culture.
The NECA Annual Employers’ Excellence Awards celebrate organizations that excel in key areas such as leadership and people management practices, sound human resource systems, effective corporate governance, responsible business conduct, technological innovation, Environmental, Social, and Governance (ESG) practices, and the elimination of child labour.
Speaking on the award, Polaris Bank’s Managing Director/CEO, Kayode Lawal, stated:
” Winning this prestigious award accentuates our deliberate approach to promoting an environment where employees can thrive, innovate, and contribute meaningfully to the Bank’s success.
“It also highlights Polaris Bank’s leadership commitment to evolving into an employer of choice and a great place to work.
“Congratulations to the entire Polaris Bank family for this outstanding achievement on a sectoral scale! This win is a testament to the hard work, dedication, and innovative spirit of every member of our team. It could not have been any BIGGER! ”
THWILL recalls that Polaris Bank was adjudged Nigeria’s Digital Bank of the Year in 2024, 2023, 2022 and 2021 in Business Day’s Banks and Other Financial Institutions (BAFI) Awards.
Also, at the inaugural ‘MSME Finance Awards 2024’ organised by a digital media platform and The Economic Forum in Lagos last August, Polaris emerged Nigeria’s top bank in MSME Lending.
It was a notable achievement considering the emphasis the World Bank has laid on focusing on that sector to boost job creation and the people’s standard of living.
The award, which highlighted Polaris Bank’s dedication to supporting MSMEs through various direct and indirect funding initiatives, was well received among stakeholders.
According to reports, the judges emphasised the bank’s consistent efforts in providing sustainable finance, which has enabled Nigerian entrepreneurs to grow and expand their businesses.
“This is a welcome development. At a time the manufacturing companies are facing a huge challenge in accessing foreign exchange to import raw materials and other accessories, this is the time to revisit the backward integration policy in particular with vigour,” said Engr. Dan Ikoku, owner of a grain processing outfit.
According to Abdulrasid Yarima, president/chairman of the governing council of the Nigerian Association of Small and Medium Enterprises (NASME), about 10 percent of the 40 million MSMEs in the country have shut down since the subsidy removal.
In a statement late last year, Yarima said, “It’s been very tough for our members as we are managing to survive. Some of them are closing shops while others are looking for new business opportunities.”
Polaris Bank’s efforts in bridging the gap in MSME financing will go a long way in repositioning the small business operators to play their role in the economic development of the country.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
