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1,000 Nigerian SMEs to benefit from Polaris Bank, EAS funded training on export to US, Europe
…Provides local funding for stock purchase
Polaris Bank, in its show of commitment towards empowerment of Small and Medium-sized Enterprises (SMEs), is pleased to announce a strategic partnership with Export and Sell (EAS), a renowned expert in export solutions, to train and subsequently fund over 1,000 successful SMEs on export opportunities to the USA via Amazon and other international platforms.
Polaris Bank is leveraging the expertise of EAS as an intermediary between Online and African Stores in the US, UK and Nigerian businesses, for supply of Raw foodstuffs and other items from Nigeria. With a focus on e-commerce sales through Amazon, the training provides in-depth exposure to Nigerian SMEs on export opportunities and sales expansion into the American market. The training will provide an opportunity to educate SMEs on how to find buyers and how to meet specifications for export, especially into the US market.
The training programme is slated to commence in October 3, 2023 as a hybrid model, with in-person sessions slated to hold in Port Harcourt, Abuja and Lagos. Subsequently intensive sessions will hold for four days with over 1000 successful SMEs; many of whom could access facilities of up to ₦20m for SMEs and ₦1billion for large corporate.
This collaboration aims to equip SMEs with the knowledge and tools required to successfully export their products.
In today’s global marketplace, SMEs face unique challenges, including, access to financing, shipping, product registration and finding buyers for their business. Polaris Bank recognizes the importance of fostering economic growth by supporting SMEs, as the backbone of the Nigerian economy. Through the partnership with EAS, Polaris Bank is taking a significant step towards fulfilling its commitment to SME growth and development in Nigeria.
The partnership and training programme, will provide SMEs with a comprehensive understanding of onboarding on Amazon and exporting successfully to the USA, with insights on export credit insurance and risk mitigation strategies. Participants will gain insights into available funding windows provided by Polaris Bank as well as be equipped on how to leverage them effectively.
The training sessions will be led by industry experts from both Polaris Bank and EAS, ensuring that participants receive the highest quality education and guidance.
Commenting on the Export and Sell Business Model, Polaris Bank’s Group Head, Products & Market Development, Adebimpe Ihekuna expressed enthusiasm for the partnership, stating, “At Polaris Bank, we understand the pivotal role SMEs play in driving economic growth. Through our collaboration with EAS, we aim to empower SMEs with the knowledge and tools necessary to access export financing opportunities and compete effectively on the global stage. This partnership underscores Polaris Bank’s commitment to SME development and Nigeria’s economic prosperity.”
A BusinessDay news article published on March 23, 2023, quoting Nigerian Bureau of Statistics (NBS) indicated that a total of N598.2billion worth of agricultural produce were exported in 2022, accounting for 18.5 percent increase when compared to the figure recorded in 2021.
Polaris Bank was adjudged Digital Bank of the Year in 2021 and 2022 by Business Day’s Banks and Other Financial Institutions (BAFI) Awards. It also emerged as the best MSME Bank because of its ability to use technology to enable bottom-up support to the MSME sector.
News
Turaki-led PDP wins as Court of Appeal affirms Wole Oluyede as duly nominated candidate for Ekiti
Dr. Wole Oluyede has been affirmed as the duly nominated candidate of the Peoples Democratic Party, PDP, for the Ekiti State governorship election.
The Court of Appeal, Akure Division, made the affirmation in a landmark judgment, thereby giving validity of the Peoples Democratic Party (PDP) primary election for the same.
In a unanimous decision, the three-man appellate panel led by Hon. Justice Peter Chudi Obiorah, alongside Hon. Justice Jane Esienanwan Inyang and Hon. Justice Peter O. Affen, set aside the earlier judgment of the Federal High Court, Ado-Ekiti.
The justices held that the primary election conducted by the Kabiru Tanimu Turaki-led National Working Committee (NWC) was valid, transparent, and complied with the party’s constitution and the Electoral Act.
On the 13th of January, 2026, the Federal High Court, Ado-Ekiti nullified the Ekiti State Governorship primary election conducted on the 8th and 9th November, 2025.
Dissatisfied with the judgment, the Party appealed to the Court of Appeal and today, the Court of Appeal allowed the appeal and set aside the judgment of the Federal High Court..
The Court further held that the primary election was duly conducted.
This judgment effectively puts to rest the leadership and candidacy disputes that have shadowed the party’s preparations for the 2026 Ekiti State Governorship Election. By upholding the Turaki-led process, the Court has provided the necessary legal finality to ensure the PDP enters the general election as a unified front.
News
India slaps Nigeria, rejects Tinubu’s ambassador-designate
India and some other countries have reportedly declined to accept some of President Bola Tinubu’s recently posted ambassadors-designate due to diplomatic policies that discourage receiving envoys from administrations with less than two years remaining in office.
According to reports in the media, India, where career diplomat Ambassador Muhammad Dahiru has been designated to serve, maintains a standing policy against accepting ambassadors from governments with tenures of less than two years remaining.
India is exercising its discretionary powers to turn down the Ministry of Foreign Affairs’ request to accept Dahiru’s posting.
According to sources quoted by the report, the Federal Government was already receiving signals from New Delhi and possibly other capitals about their reluctance to grant agrément.
Agrément is the formal approval given by a receiving country to accept a diplomat designated by the sending country, and it is a prerequisite before an ambassador can assume duty.
“They don’t accept an ambassador from an administration that has less than two years in office. So they are giving us that body language already,” a Presidency official was quoted to have said
The source continued, “Some countries are reluctant to accept some people, not because of the individuals but because of time. They are already seeing the Tinubu government as an outgoing government.
“So their concern is that he has just one year left, so what if he doesn’t win the election? Another government may come and remove them. We also understand that some countries have this policy. Any ambassador from an administration that has less than a year or two in office will not get accepted. And one of such countries is India.”
News
Belonging to two political parties to attract imprisonment
The House of Representatives on Wednesday amended Section 77 of the recently assented Electoral Act 2026 to prescribe two-year jail term or N10 million fines or both, for anyone who knowingly maintains membership of two political parties at the same time.
Lawmakers during the committee of the whole presided by Deputy Speaker Benjamin Okezie Kalu, made amendment to section 77 of the 2026 Act by inserting three new clauses 8, 9 and 10 which were considered and approved by lawmakers after a heated session of back and forth debates.
According to the new clauses approved by lawmakers, any party member found to be registered as member of more than one political party at the same time will have his or membership of the said parties voided.
Clause (8) of the approved amendment stipulates that “A person shall not be registered as a member of more than one political party at the same time.”
Clause (9) stipulates that “Where it is established that a person is registered as a member of more than one political at the same time, such dual membership shall be void, and the person shall cease to be recognised as a valid member of any political party pending regularisation in accordance with the provisions of this Act and the constitution of the political party concerned.
Clause (10) stipulates that “A person who knowingly registers or maintains membership in more than one political party at the same time commits an offence is liable on conviction to a fine of N10,000,000 or to imprisonment for a term of two years, or both.”
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