Doubble, Sterling Bank Limited’s cutting-edge investment platform, is pleased to announce new feature updates improving investment returns for existing and new customers.

With various flexible naira and dollar investment options, including money market offerings with returns higher than your bank’s returns on savings. The digital savings and investment platform provides a seamless avenue for individuals to build wealth. Users are provided with a guaranteed income stream and fixed growth over a set period, as well as a hedge against market volatility, the ability to secure loans against account balances, and the convenience of transferring the annuity to a spouse or other beneficiaries.

The Chief Product Officer, Mustapha Otaru explained that the new offering caters to individuals seeking a reliable means to invest their money, with a clear focus on achieving regular investment returns or specific financial goals, whether for future business endeavours or lifestyle aspirations.

Money market instruments are low- to medium-risk investments with higher returns than regular savings that help investors preserve their capital and provide them with stable income. The Doubble application hosts five unique Money Market offerings with varying levels of flexibility, which include: Doubble Easy, Doubble Xtra, Doubble Auction, Doubble Special Offerings, and Doubble Special Auction. Customers can determine their desired capital and investment duration and even bid on rates due to the flexibility of each of these offerings.

Doubble’s Money Market offering empowers investors to plan strategically for future financial commitments, such as funding their children’s education, acquiring homes, saving towards rent, or sourcing capital for new business ventures. It alleviates the hassle of investing through middlemen and their accompanying extra fees. It also lowers the entry barrier for investors, with plans available for as little as N20,000.

The Doubble Target and Fixed Deposit savings plans, readily available and existing on the investment app, allow customers to automate their savings in Naira or Dollar currencies over time or save a lump sum to earn higher returns. The Doubble Reward savings plan also allows investors save a set amount for a set period to earn invested capital and up to 60% returns monthly pay-outs to themselves or a designated beneficiary.

L-R: Baba Mohammed, Head, Government Affairs, The Alternative Bank; Garba Mohammed, Executive Director, The Alternative Bank; Mohammed Umar Bago, Governor Niger State; Mustapha Ndajiwo, Commissioner, Budget and Planning; Usman Abdullahi, Chief of Staff and Aminu Takuma, Commissioner Industry, Trade and Investment   during the signing of multi-sector deal with the Niger State Government to boost the development of agriculture, transportation, energy and infrastructural sectors in the state recently.

The Alternative Bank, an Africa-focused non-interest bank, has signed a multiyear deal with the Niger State government to boost the development of agriculture, transportation, energy, and infrastructural sectors in the state.

Mohammed Bago, Governor of Niger State who signed the Memorandum of Understanding, alongside Garba Mohammed, executive director at The Alternative Bank, said the objective of the deal is to maximise the agricultural potential of the state.

Governor Bago expressed delight with the financial institution’s readiness to partner with the state for maximum agricultural potential. He said the state plans to lease earth-moving equipment like caterpillars, bulldozers, pale loaders, and graders to prepare 4.5 million hectares of cultivable land over the next 10 years.

The deal with The Alternative Bank provides the State Government with numerous developmental prospects including deploying solar-powered kiosks across various locations in the state for basic healthcare delivery and community convergence. The deal also encourages investing in agriculture to bolster the agro-economy value chain, aiming at food security and export enhancement.

Another benefit of the deal is fast-tracking the shift to sustainable electric transportation in Niger State, empowering people and reducing environmental harm from fossil fuel use (PMS/AGO). It would also bridge banking service gaps in underserved areas, ensuring comprehensive financial service access and economic integration for all residents of the state. The deal will introduce a digital platform mirroring the physical setup, infrastructure, and operational model of the state’s tertiary institutions. Finally, it will bring focus to the drug supply chain and expedite health insurance to widen healthcare access in the state.

Garba Mohammed, Executive Director of Alternative Finance said there are million-dollar opportunities from the deal. He noted that an international partner is willing to invest $65 million in a sugarcane plantation, creating job opportunities and generating electricity and other products.

Another development partner from the UAE is ready to invest between $1 and $10 million for exporting the Alfalfa plant, requiring 100,000 hectares for cultivation. Mohammed has also advised the state government to obtain Ijarah Sukuk from the capital market for 5 to 7 years, to reduce costs and ensure a return on investment without a substantial upfront cost from the state.

About The Alternative Bank

The Alternative Bank is the non-interest arm of Sterling Financial Holding Company. Licensed to operate as a commercial entity in 2023, the bank boasts of various product offerings and solutions such as Alt Mall, Alt Drive, and Alt Power, amongst other various diverse and innovative solutions. 

Sterling Bank Limited has again emerged as the 2022 Overall Best Workplace in Nigeria in the large corporate category awards organised by the Great Place to Work (GPTW).

Since 2020, the Bank has continued to win the overall best workplace award of the GPTW.

According to the organisers of the award, the bank emerged first Best Place to Work in the large corporate category, Best in Promoting People Leadership Practices in the large category and the Best in Promoting Corporate Social Responsibility Initiatives in the large category.

In a keynote address, Chairman of Sterling Bank, Mr. Asue Ighodalo said: “Now, more than ever in the life of our country, we must create an environment that enables an inclusive and consistent growth rate of over seven percent year-on-year to emerge from our present economic and social predicament.”

Describing himself as an apostle of and a firm believer in private sector-led growth, Mr. Ighodalo noted that creative, disciplined, innovative, and efficient organisations, manned by visionary, selfless, hardworking, satisfied and passionate people will catalyse the growth of the national economy.

“Rising at dawn and working till dusk each day, are the men and women who drive these organisations,” he said, adding that “for the organisations to thrive and sustain themselves, these men and women must be happy at work, passionate about their work, well trained, healthy, mentally balanced, fairly treated, motivated, appreciated, comparatively well rewarded and respected.”

He said employers have a duty to ensure that employees work in an environment and with people who enable outstanding performance. According to him, the world changed significantly in the last five years and the change has greatly affected employees’ attitude to work, their ways of working, the reasons they work, their organisational loyalty and where they work from.

He remarked that in order to retain the quality of talent they need to survive, grow, thrive and sustain themselves, organisations must adapt to the constant changes, volatility and unpredictability in the world because “we are at the edge of a new world economic order with indications that China will soon overtake the United States as the world’s biggest economy and the dollar’s importance in international trade, settlements and store of value will diminish.”

He said the global economy continues to face unprecedented challenges, noting that the greatest impact on how people work and their commitment to work has been the 2019 Covid pandemic with its lingering effects. He added that the war in Ukraine continues to further destabilise the global order, negatively affecting the cost of food and energy, disrupting supply chains and logistics certainty, and pushing many people into unemployment all over the world.

“Our enabling environment must improve and our organizations, which are the growth drivers, must become attractive work havens. So, with all of these challenging changes, volatility and unpredictability how do we create and sustain attractive and productive work havens?”

“Regardless the positive and efficiency enhancing impact of technology, science, robotics and digitalisation, I remain absolutely clear that each organisation is only as good as the people that work in there, driving and controlling its systems and technologies.

“People are the heartbeat of any organisation, driving it forward with their individual and collective efforts. They are not just assets; they are the essence of the company, making it vibrant and alive.

“Strategies, milestones, and overall financial performance may grab the headlines, but these only come together by the channelled efforts of the dedicated hands and minds of the people who call the company home—individuals who are comfortable enough to live their best livesand do their best work within their respective organisations,” Ighodalo said.

He enjoined organisations to commit to the wellness and stability of their employees, by offering a wide range of wellness programmes and initiatives, including mandatory annual physical check-ups, holistic maternity and paternity initiatives, employee assistance programmes to provide access to mental health support, and extensions to employees’ health plans that provide cover for older dependents.

He said companies should also take steps to promote work-life balance, and may, subject to the nature of the tasks, offer unconventional flexible work arrangements and paid health breaks among others.

Stanbic IBTC Holdings, a member of Standard Bank Group, is set to host the ninth edition of its annual flagship corporate social investment initiative, the Together4ALimb Walk.

The event, which is scheduled to take place on Saturday, 25 November 2023, in Lagos, reaffirms Stanbic IBTC’s commitment to supporting children living with limb loss.

This year’s Walk will witness an increase in beneficiaries, welcoming 45 new children into the program, bringing the total number of beneficiaries to 100 aged three to eighteen years from various parts of the country.

The event, which is themed “Wellness in Motion,” will cover an eight-kilometer distance by physically present attendants in Lagos, while global participation will be monitored through the Steps by Stanbic IBTC App.

Dr. Demola Sogunle, Chief Executive of Stanbic IBTC Holdings, highlighted the initiative’s past impact on 55 beneficiaries and emphasised its potential to impact even more lives in 2023. He added that Together4ALimb has provided hope and empowerment to beneficiaries since 2015 and enabled them to pursue aspirations with the support of prostheses and the education trust provided by Stanbic IBTC.

Dr. Sogunle stated: “This year, Stanbic IBTC welcomes 45 new beneficiaries—the largest intake since the inception of the initiative. This will bring the total number of beneficiaries, aged between 3 and 18, to 100. Each child will receive prostheses and a 1.5 million Naira educational trust fund. The initiative addresses health and education needs, and the walk sends a powerful message advocating for underserved children with limb loss.”

Well-wishers are urged to join Stanbic IBTC in making a difference by participating in the Together4ALimb Walk. Dr. Sogunle encouraged global participation through the Steps by Stanbic IBTC App, available on the Apple iOS Store and Google Play Store.

Participants will be rewarded with certificates of participation based on steps recorded, providing a tangible impact on the lives of resilient children and contributing to a brighter and more inclusive future.

L-R: General Manager, Evolve Charity, Godwin Ejeh; one of the beneficiaries and a student of Akokwa High School, Akokwa, Imo State, Chinaecherem Blessing Agodi, and Business Development Manager, Polaris Bank, Urualla Branch, Nwokoro Ifeyinwa at the presentation of school bags, sandals, books, pens and school uniforms to the students of Akokwa High School, Akokwa during the ongoing CSR Partner in The Girl-Child Education Project Held in Imo State. 

Polaris Bank, in collaboration with Evolve Charity, has made generous donation of educational materials to public secondary school students in Imo State to further underlined its commitment to the advancement of girl-child education in Nigeria.

The gesture which is part of its ongoing ‘Girl-Child Education Project’ and in alignment with its Corporate Social Responsibility (CSR) framework, saw Polaris Bank present essential school supplies to over 500 students in Akokwa High School, Iheme; Memorial School, and National High School, Aro Ndi Uzoogu all in Imo State.

The donation, comprising; school uniforms, school bags, sandals, and various writing materials, aims to empower and support the girl-child through education, aligning with the United Nations Children’s Fund (UNICEF) International Day of the Girl (IDG). This initiative serves as a testament to Polaris Bank’s dedication to fostering positive change in local communities.

Speaking at the event, Nwokoro Ifeyinwa, Business Development Manager, Polaris Bank, Urualla Branch, highlighted the transformative power of education. “In the pursuit of knowledge, we find the key to unlocking boundless opportunities. At Polaris Bank, we believe that supporting the education of the girl-child is not just a noble cause, but a strategic investment in shaping leaders and change-makers. Our collaboration with Evolve Charity is a step towards fostering a future where every girl can dream without limits and achieve without boundaries”, she said.

Speaking in the same vein, the representative of Evolve Charity Trust, Godwin Ejeh conveyed the organisation’s dedication to education, stating: “Our collaboration with Polaris Bank goes beyond a partnership; it is a shared commitment to shaping a future where education is not just a gift but a promise. Adopting these schools means embracing the responsibility to nurture not just academic growth, but the development of character. We aspire to create an environment where both students and teachers thrive, instilling not only knowledge, but also enduring values that will resonate throughout their lives.”

Imbomi Ikechekwu Kenneth, a student of Akokwa High School, expressed heartfelt gratitude to Polaris Bank and Evolve Charity, saying, “With sincere thanks to God, our hearts are filled with joy, and we truly appreciate Polaris Bank and Evolve Charity for this wonderful opportunity. Personally, I feel elated and joyful witnessing Polaris Bank’s visit to our school. Thank you, Polaris Bank, thank you, Evolve Charity.”

Agodi Blessing, another student, extended her gratitude. “We extend a heartfelt thank you to Polaris Bank and Evolve Charity Trust for this generous act of charity to us. Recognizing that one of the global issues is climate change, and to address this, providing free education to the girl child is crucial. On behalf of all the girls, I say a big thank you for these gifts and the valuable opportunity you’ve given us this afternoon”, she said.

The Principals of the benefiting schools also expressed their heartfelt appreciation on behalf of the school managements and students, underscoring the positive impact of the initiative on the academic development of the students.

Polaris Bank remains unwavering in its dedication to shaping a future where education is a catalyst for empowerment. As a beacon of digital excellence, the Bank continues to redefine industry standards, leaving an indelible mark on the landscape of the Nigerian economy. Together with Evolve Charity, Polaris Bank looks forward to fostering more transformative initiatives that uplift communities and pave the way for a brighter tomorrow.