Business
Polaris Bank promotes SMEs, sponsors 2021 Fashion Souk
Polaris Bank promotes SMEs, sponsors 2021 Fashion Souk
Polaris Bank has reaffirmed its commitment to the promotion and growth of Small and Medium
Enterprises (SMEs), especially those operating in the fashion industry in Nigeria.
This position was emphasized in a statement issued by the Bank while disclosing plans
to support this year’s Fashion Souk – the niche fair for fashion enthusiasts and businesses convened by Eventful Limited, Nigeria’s pioneer and leading events management company.
The one-day business fair scheduled to hold on Sunday, December 5th, 2021 at the Harbor
Point, Victoria Island, Lagos will provide a platform for over 100 SMEs in Nigeria’s fashion industry who will showcase their creativity, product lines and economic potentials.
A report by the continent’s development finance powerhouse, Africa Development Bank (AfDB)
quotes the global fashion industry as worth over $2.5 trillion with Africa’s share estimated at less than 1% of the total values in 2020, putting Africa’s entire textile/clothing market at more than $31 billion, while Nigeria’s fashion industry is valued at
$10 billion according to statistics quoted by Fashion Association Designers of Nigeria (FADAN).
Shedding more light on Polaris Bank’s sponsorship, the Group Head Strategic Brand Management,
Nduneche Ezurike noted that Nigeria’s fashion sub-sector has huge and untapped potentials capable of reducing the rate of unemployment in the country.
According to him,” Polaris Bank will be sponsoring one of the best fashion fairs in Nigeria.
The fair is curated to facilitate exhibition from four categories of SMEs in the fashion industry including Manufacturers, Retailers, Leather and Jewelry/ accessories with over 120 SME businesses in attendance with expected 2,500+ visitors and buyers expected
at the fair”.
He further noted
that Polaris Bank remains the preferred Bank in the provision of unique products and services across all the key market segments of the Nigerian economy; serving and impacting the public and private sector; including large and small corporate organizations,
SMEs, professional groups and institutions across; health, education, trade, merchandising, utilities, hospitality etc.
Commenting on the essence of the SOUK, the Convener, Mrs. Yewande Zaccheaus said: “Eventful Limited has been deliberate in using the platform of the Fashion Souk to create the much-needed road to market for budding fashion entrepreneurs whilst also expanding the target
market of the more established designers. The opportunities for scaling businesses have been fully optimised by our vendors through their participation at the Souk as well as the Business Pitch. We are proud to be contributing to the growth of the nation’s
economy through this laudable initiative”.
Eventful Limited, is a pioneer of events management business in Nigeria and a Convener of four most-sought after industry fairs in Lagos namely: The Beauty Souk, The Food Souk, The Fashion Souk, and The Street Souk. The 2021 Beauty Souk holding on December 5, 2021 heralds the
4th edition of the event.
Polaris Bank’s sponsorship and partnership with Eventful to host the Fashion Souk, provides a further boost to budding entrepreneurs in the fashion industry, and by extension accelerate the growth of the SMEs in Nigeria and the nation’s economy at large.
Polaris Bank recently won the coveted BusinessDay Digital Bank of the Year award for
delivering VULTe, a niche digital Bank.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
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.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
-
celebrity radar - gossips6 months agoWhy Babangida’s Hilltop Home Became Nigeria’s Political “Mecca”
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
society5 months agoReligion: Africa’s Oldest Weapon of Enslavement and the Forgotten Truth
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING