BusinessHighlightTrending Story

Polaris Bank Webinar outlines strategies on how women could build wealth

337

 

Nigerian women have been urged to explore vista of investment opportunities in the country to create and build sustainable wealth.

Experts in government and finance sectors — Yewande Sadiku, Osayi Alile and Teju Abisoye — gave the advice at a webinar organised by Polaris Bank in Lagos.

The webinar was part of activities to commemorate the Women’s Month in line with the International Women’s Day celebration with the theme #choosetochallenge.

The webinar which held under the aegis of the Bank’s gender-based product, Polaris Pearl, focused on understanding the role of investment in wealth creation and the importance of taking financial responsibility.

According to Ms. Sadiku, the Executive Secretary of Nigerian Investment Promotion Commission (NIPC), for women to attain financial fitness, they have to build passive income and focus on multiple investment streams to realise the future of their dreams.

The NIPC voss and erstwhile senior Investment banker said: “ln building passive income, you should not eat your seed, rather, plant it and let it grow to a tree, so you can have many more to eat, plant and grow”.

Using personal examples to illustrate how she built her wealth starting out as a young banker at age 20, Sadiku said she seized the moment and had a vision of the life she wanted to live and started building passive income through multiple investment windows, setting aside a chunk of her earnings in buying stocks, investing in mutual funds.

“Also putting away her bonuses and salary increments in fixed deposits, which she later invested in landed properties and real estate.”

On her own part, Ms. Alile, who runs Aspire Coronation Trust Foundation, tasked Nigerian women to start saving from the moment they become conscious of the need to attain financial fitness. She urged them not to be in unnecessary competition that brings little or no value in the long run.

“Follow your lane and build a solid foundation that will stand the test of time especially when challenges come”, she advised.

She further reinforced the advantage of starting out children on a solid financial foundation with gifts – in form of stocks and mutual funds – just like she had while growing up, which helped set her up on the right path.

She advised participants to start their financial fitness journey now and get help where needed.

In her own presentation, Mrs. Abisoye, the CEO of Lagos State Employment Trust Fund, said that at LSTEF, they observed that women-run businesses have a larger impact on the community and society; adding that it is possible for women businesses to drive impact, making a case for empowering women for greater and more widespread economic impact.

She advised young ladies – either in paid or self-employment to start with the end in mind, stating,“Once you begin with the end in mind, you are bound to succeed ultimately, even as she disclosed that there are multiple sources to fund a Start-Up as a budding entrepreneur.”

“You can grow wealth irrespective of employment status. You can start out with your personal savings and seed money from family and friends.”

She enjoined participants to start and grow their businesses before exploring the debt financing option. She further encouraged start-ups to use the acronym: S-service, I-impact, S-sales and I-investment as a mantra to ensure success as the eventual outcome.

Earlier in his welcome address, the acting Managing Director/CEO of Polaris Bank, Mr. Innocent C. Ike, said the webinar was put together to address pertinent issues that border on ‘Women and Growing Wealth’.

Ike noted that women empowerment and development is core to our sustainability goals and a key focus area of “our social investments and business objective as a Bank. We have had some interventions in this area for impact”.

“Our partnership with the International Women’s Society, Lagos State Ministry of Women Affairs and Poverty Alleviation, Societal Healthcare Organisation, and a host of others, are all efforts geared towards empowerment of women,” he added.

The webinar which had over 1,000 participants following across multiple social platforms, was moderated by the Group Head, Products and Market Development, Polaris Bank, Mrs. Adebimpe Ihekuna.

According to 2018 Credit Suisse Research Institute Global Wealth Report, women hold 40% of global wealth. The report stated that women’s share in wealth rose considerably over the 20th century.

Polaris Pearl is the bank’s flagship gender-based product designed to cater to the banking needs of the everyday woman, with special focus on Professionals, Entrepreneurs and Homemakers.

The account is available in three variants — Polaris Pearl Instant Account, Polaris Pearl Instant Plus Account and Polaris Pearl Account – Savings.

Polaris Bank is a future-determining Bank committed to delivering industry-defining products and services across all sectors of the Nigerian economy.

Leave a comment

Related Articles

$26bln African Atlantic Gas Pipeline Project Gains Momentum

The federal government, in collaboration with the Economic Community of West African...

N1.3trn fraud: EFCC arrests, grills ex-Delta Gov. Okowa

A former Delta State Governor, Ifeanyi Okowa, has been apprehended by the...

Equatorial Guinea government official embroiled in sextape scandal

Mr. Baltasar Engonga, Director General of the National Financial Investigation Agency (ANIF)...

CAF ruling against Libya: Nigerian govt. promises to protect its citizens in Libya

Nigeria’s Ministry of Foreign Affairs has reaffirmed the federal government’s commitment to...

Polaris Bank wins “Best Mobile App” award at Digital Jurist Awards 2024

For its commitment to digital innovation and excellence, Polaris Bank has again...

Updated: After six years of injustice, Nigeria’s ex-Chief Justice, Onnoghen, finally gets justice

The Court of Appeal, Abuja Division, on Monday, overturned the conviction of...

Flood sacks 4 Anambra council areas as Soludo activates 27 IDP camps

By Emmanuel Ndukuba, Awka Floods have devastated four local government areas in...

Four-month salary: NASU, SSANU secure irrevocable commitment from FG, suspend strike

After a six-day strike, the Joint Action Committee (JAC) of non-teaching staff...

Three radio stations in Abia destroyed by mysterious fire

A mysterious fire has hit three radio stations in Abia in Abia...

Seven new ministers for inauguration on Monday, Nov. 4

President Bola Tinubu will preside over the oath-taking of seven new ministers...

Youth shot dead for playing football near VIP’s house

A 70-year-old man, Mr. Stephen Irobunda, has escaped a mob action in...

Renowned Nigerian filmmaker, director Dimeji Ajibola is dead

Dimeji Ajibola, the acclaimed Nigerian filmmaker behind the popular series Shanty Town,...

Just in: UK Conservative Party elects former Business Secretary Kemi Badenoch as new leader

Former British Business Secretary Kemi Badenoch has emerged as the new leader...

Demolition of Abuja N200bln properties: Restrain Wike, Estate Developers Beg Pres. Tinubu

President Bola Tinubu has been urged to intervene in the alleged demolition...

FirstBank’s retired CEO, Adeduntan, gets presidential commendation

Impressed with his exemplary career trajectory and transformative leadership, President Bola Tinubu...

#EndBadGovernance protests: AGF to Police: Transfer casefiles of 72 defendants to my office

The Attorney General of the Federation (AGF) and Minister of Justice, Prince...

NAGAFF Taps NPA MD, Dr. Abubakar Dantsoho, as Keynote Speaker for Silver Jubilee Anniversary

The National Association of Government Approved Freight Forwarders (NAGAFF) has announced Dr....

It’s fake news: Fubara did not order shut down of NNPC Ltd, oil companies in Rivers

The Rivers State Government has refuted a report circulating on social media,...

Tinubu to NEC: Allow tax reform bills pass through legislative process, public hearing

President Bola Tinubu has received the National Economic Council’s recommendation that the...

Minister Inspects Bagaja Renewables’ Zawaciki 1MWp Mini-Grid Amid Northern Power Crisis

As northern Nigeria grapples with prolonged power outages, Minister of Power Adelabu...