Bank
Polaris Bank Commences Phase IV of its Breast Cancer Screening Exercise for Staff, and Customers.
Polaris Bank Commences Phase IV of its Breast Cancer Screening Exercise for Staff, and Customers.
…restates commitment to stemming the scourge
Sahara Weekly Reports That Polaris Bank has announced that it has commenced breast cancer screening for its staff and customers meant to reduce the incidence of breast cancer in Nigeria.
The Bank’s Group Head, Strategic Brand Management, Nduneche Ezurike, made this known in Lagos while reiterating the Bank’s unwavering commitment and partnership to stem the breast cancer scourge among women.
Polaris Bank notes that increased awareness, screening, advocacy, and support will go a long way to reducing the incidence of breast cancer in the country.
The screening exercise, which is in its 4th phase, commenced in April and will hold once every month. It is open to the Bank’s interested female staff and customers. The screening exercise is in Partnership with COPE and holds at the NGO’s, Adeniyi Jones, Ikeja, Lagos Office.
Mr. Ezurike noted that healthcare is one of the pillars of Polaris Bank’s Corporate Social responsibility (CSR), stressing that its partnership with relevant public-spirited Non-Governmental Organisations, NGOs, like Care Organisation Public Enlightenment (COPE), Societal Healthcare Organisation (SHO), and Marcel Ruth Cancer Centre, has enabled it to contribute significantly to the reduction of breast cancer in the country.
The Polaris spokesman further noted, “In partnership with the aforementioned NGOs, we have covered five key milestones, namely, awareness, advocacy, capacity-building, prevention, and treatment in an ongoing effort to reverse the negative impact and trend of the scourge and other related health complications.”
“We have screened over 22,000 women, including female staff members of the Bank through our prevention program, donated three ultra-modern breast cancer screening machines to enhance quality diagnosis and clinical practices, sponsored the treatment of over 30 indigent cancer patients, and organized/Partnered on a 10-km/6-km walk with over 3,100 participants to draw public attention to the breast cancer scourge,” he said.
The President of COPE, Mrs Ebunola Anozie, commended Polaris Bank for the support, care, and encouragement they have so far received from the Bank, stressing that the Bank has been a strong partner behind their initiatives for nearly 20 years now.
“For some time, we had difficulty getting the required support for the women. Some of our women used handkerchiefs; some used tissues to fill up their bras. But we are grateful for the timely support of Polaris Bank. They were able to donate prostheses that ensured our breast cancer survivors lived better lives”, Anozie added.
Polaris Bank also has several other initiatives to improve the well-being of the womenfolk in general in the country. In 2021 it organized a 3-day intensive capacity-building workshop in Northern Nigeria on life-saving skills for 50 community midwives and health extension workers, randomly selected from 80 per cent public and 20 per cent private hospitals in Kano State in partnership with SHO.
Additionally, in seeking ways to address social issues affecting women, and the most vulnerable groups in Northern Nigeria, Polaris Bank also worked in concert with a northern-based NGO and women-focused group, Sisters-Keepers Initiative, to organize a conference in Kano to exchange ideas on the scourge of child neglect, physical abuse, domestic violence, illiteracy, street begging, and child labour.
The Bank was adjudged Digital Bank of the Year in 2021 and 2022 by BusinessDay Newspaper’s Banking and Finance Industry Awards (BAFI) alongside other Institutions that recognized VULTe as Nigeria’s best digital Bank, like Nigeria FinTech Awards, amongst others.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
Bank
Separating Fact from Confusion: What Nigerians Need to Know About the 7.5% VAT on Banking Service Fees
In recent weeks, digital-banking customers and social media, especially on Twitter have raised concerns about deductions labelled as “VAT” on transfers and other charges.
Some dangerously false narratives, which when you take a critical look, you’ll clearly see that they have been orchestrated and sponsored by malicious elements, have given the impression that the 7.5% Value Added Tax (VAT) is a new or arbitrary charge introduced by fintechs, or that it applies to the amounts customers send. These claims are misleading and deserve careful clarification which is the purpose of this piece.
First, it’s important to understand how VAT works in Nigeria’s financial sector today. VAT on fees and charges for financial services has long been part of Nigeria’s tax system. The then Federal Inland Revenue Service (FIRS) had issued information circulars on March 31, 2021 where it stated that VAT on Financial Services (Circular No. 2021/04) that most fees, commissions, and charges by financial institutions (banks, insurance companies, brokers) are subject to 7.5% VAT.
This justifies a recent advertorial the Nigeria Revenue Service (NRS) which stated unequivocally that VAT was not newly introduced on banking service charges by recent tax reforms, and that it did not impose a new tax obligation on customers in that regard.
However what was left unsaid in that publication was that on the 12th of December, the tax agency had written to all financial institutions and payment gateways based on past meetings with operators that following from the new Tax Act, they were reminded of their mandatory obligations to collect, deduct and remit VAT at the prescribed rate.
The Agency then gave an 18- day grace period to all players to configure and align their systems while directing full compliance with the directive with effect from January 19, 2026. And so, some fintechs sent messages to their customers in the spirit of clarity and transparency.
It must be said that what has changed is that in a bid to widen the tax net, microfinance banks and fintechs who were not obligated to deduct and remit said VAT before now, have now become compelled to do so. The enforcement and standardised collection of VAT across banks and fintech platforms including mobile transfers, USSD transaction fees, and card issuance fees with compliance deadlines issued by tax authorities. So why anyone would vilify any financial institution obeying the laws of the land beats my imagination.
For those who have raised questions around transparency and wrongly suggesting that fintechs are suddenly imposing new, unexplained costs on users – as it has been explained above, this is a matter of regulatory compliance, not a lack of transparency or customer exploitation. These VAT deductions are not new fees created by the companies themselves, and providers are not arbitrarily raising their prices.
In closing, two things that everyone must bear in mind as we move forward in this new tax climate – all stakeholders including fintech platforms and regulators must communicate better and clearly. Nigerians must refrain from peddling unsubstantiated claims and malicious narratives, it has no benefits for anyone and erodes trust in systems.
FirstBank Introduces Exclusive 500-Seater Bleacher at Carnival Calabar & Festival 2025
Lagos, 26 December 2025 – FirstBank, West Africa’s premier financial institution and financial inclusion services provider, has officially announced its sponsorship of the Carnival Calabar & Festival 2025, unveiling a landmark addition set to redefine the carnival experience — the first-ever private premium seating area at the event.
The highlight of FirstBank’s participation is the construction of a 500-seater premium bleacher, designed to provide comfort, safety, and an elevated viewing experience for carnival enthusiasts.
Speaking on the sponsorship, the Acting Group Head Marketing and Corporate Communications, FirstBank, Olayinka Ijabiyi, noted that the carnival aligns with the Bank’s First@Arts initiative, a platform dedicated to supporting the creative arts value chain across Nigeria. He said, “We recognise the transformative power of the arts, including carnivals, in inspiring people and strengthening national unity. For more than 131 years, we have supported platforms that promote self-expression, social reflection and cultural exchange. Our investment in the Carnival Calabar & Festival demonstrates our commitment to preserving the nation’s rich cultural heritage through First@Arts.”
“As part of our sponsorship this year, we are introducing the first-ever private 500-seater premium bleacher to further elevate the carnival experience. This exclusive seating is designed to provide exceptional comfort and an unforgettable viewing experience for attendees,” Ijabiyi added.
The Chairman of the Cross River State Carnival Calabar Commission, Gabe Onah, also commented on FirstBank’s sponsorship. “FirstBank’s involvement is a strong demonstration of private-sector support for culture and tourism. This partnership not only enhances the overall quality of the carnival but also strengthens its global appeal,” he said.
The Carnival Calabar & Festival 2025 is officially marketed by Okhma Global Limited, the appointed Official Marketer responsible for brand partnerships, promotional engagements, and ticket sales. Okhma Global Limited has partnered with the Cross River State government in delivering Carnival Calabar & Festival for over ten years, playing a key role in strengthening the carnival’s commercial growth and global visibility.
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