Parallex Bank has partnered with the Committee of Wives of Lagos State Officials (COWLSO) on an empowerment initiative to mark the committee’s silver jubilee, equipping young Nigerians with tools and knowledge to strengthen financial inclusion.
In a statement on Thursday, the bank said the partnership delivered 100 Point of Sale (POS) machines, seed funding for beneficiaries, and financial literacy training during an event held at the office of the First Lady of Lagos State.
COWLSO described the project as a testament to its 25-year commitment to improving the welfare of women, youths, and vulnerable groups in Lagos.
Speaking at the event, Parallex Bank’s Chief Digital Officer, Frank Alarapon, said the collaboration aligned with the bank’s corporate social responsibility goals of empowering young Nigerians and closing the financial inclusion gap.
“Parallex Bank is committed to the financial inclusion drive and will continue to support COWLSO in empowering and educating indigents in Lagos State,” Alarapon said. “The Parallex Bank POS machines come with several benefits, including rewards for users, which will help enhance their financial growth and independence.”
He explained that the empowerment program was not only about equipment provision but also about building financial knowledge to ensure business sustainability and responsible money management.
The Chairman of COWLSO and Wife of the Governor of Lagos State, Dr. Ibijoke Sanwo-Olu, praised Parallex Bank for partnering with the committee to strengthen youth empowerment in Lagos.
“This project will give young people a sustainable means of livelihood while boosting financial literacy. It is an investment in human capacity that will resonate across families and communities in Lagos State,” she said.
Beneficiaries hailed the initiative as a timely response to unemployment and poverty challenges, describing it as a model for public-private collaboration in addressing socio-economic issues.
