Polaris Bank deepens financial inclusion in Niger State

As part of commitment to ease access to banking services for more people, Polaris Bank has entered into a strategic partnership with the Niger State Government by ensuring participants in the supply value chain of the National Home-Grown School Feeding Programme (NHGSFP) can open bank account with less hassle. Managing Director, Polaris Bank, Tokunbo Abiru, said the decision to partner with the state government aligned with the Federal Government’s commitment to ensure more children have access to education especially those from the less privileged (underprivileged) and most vulnerable segments of society.

While stating that human capital development was dear to the bank, Abiru said the partnership with the state government was in consonance with Polaris Bank’s commitment to efforts at bridging the gap in the number of unbanked Nigerians. He disclosed that since the feeding programme commenced in 2016, over 7,500 people across supply value chain have been engaged in Niger State while Polaris Bank has opened bank accounts for 1,500 cooks.

“When you take into consideration a recent survey which shows that about 40 per cent of Nigerians are unbanked, and the financial inclusion target of the Central Bank of Nigeria, you will see the importance of the work we are doing with the Niger State government. This will also ensure that we stimulate the economy in the state by providing banking services to the various chain of food suppliers, transporters, food stuff sellers, farmers and all other components involved,” Abiru said.

The NHGSFP is an initiative of the Federal Government designed as a deliberate act to encourage mass education to the less privileged (underprivileged) and the most vulnerable. The scheme also provides a viable balance diet for school children to fulfill all their basic nutritional needs.