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February 26, 2024

Leadership Award: LOTUS Bank poised to improve service delivery, financial inclusion

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By Kadiri Abdulrahman

LOTUS Bank Limited, one of Nigeria’s dynamic Non-Interest Bank (NIB), says it is poised to improve on financial inclusion drive and overall service delivery.

Oluremi Akande, Head, Brand Marketing and Communication of LOTUS Bank, made the commitment on Thursday, in an interview with the News Agency of Nigeria(NAN).

Akande spoke against the backdrop of the banking winning “Bank of the year Award 2022” in an event organised by Leadership Newspapers.

The News Agency of Nigeria (NAN) reports that the NIB won the award at the recently held 14th Leadership Conference in Abuja.

According to Akande, the annual event has over the years become a barometer for measuring excellence in both private and public sectors of the Nigerian economy.

He said that LOTUS Bank won the award because of its visible contribution towards deepening financial inclusion and also supporting the government efforts towards economic diversification.

He added that the Leadership award had continued to provide one of Nigeria’s most reputable fora to publicly acknowledge and inspire talents and achievements in all walks of life.

“The organisers in their statement noted that LOTUS Bank won the Bank of the Year 2022 award for its drive and impact in improving financial inclusion in Nigeria and boosting non-oil export earnings of the country.

“LOTUS was also honoured for its efforts towards economic growth and pursuit of ethical banking in less than two years since it obtained its banking licence,” he said.

Meanwhile, the Managing Director and Chief Executive Officer of the bank, Mrs Kafilat Araoye, said that the award came as a surprise.

“We were just doing what we can to ensure that Nigeria achieves financial inclusion and to help businesses particularly exporters to enable the country generate the needed foreign exchange.

“One of the purposes of setting up LOTUS Bank is to add value to the society.

“What we have done most since inception is to go to places where people don’t normally go to and try to educate them on why they should have bank accounts.

“People should be financially included, we should finance them, we should try to increase our agricultural output and our export to reduce pressure on our foreign exchange,” she said.

According to Araoye, LOTUS Bank is poised to continue to deliver superior and innovative non-interest banking financial products and services to diverse customer segments in line with its principles and ethical values.

She added that the bank had, within its short period of existence, grown its branch network to over 30 locations, including digital centers, with plans to establish more in the coming months.

LOTUS Bank, established in 2021, is a subsidiary of LOTUS Capital, a privately held financial institution founded in 2007, which pioneered non-interest finance in Nigeria.

The bank is a non-interest Nigerian bank noted for ethical banking and investing.
A non-interest bank is a bank that operates on a zero interest rate.(NAN)(www.nannews.ng)

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Edited by Isaac Aregbesola

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