Parallex Bank has teamed up with the Committee of Wives of Lagos State Officials (COWLSO) to launch a major empowerment initiative in celebration of COWLSO’s silver jubilee. The project focuses on promoting financial independence, entrepreneurship, and capacity-building for women and young people in Lagos State.
At the anniversary event hosted at the First Lady’s office, Parallex Bank donated 100 Point of Sales (POS) machines,provided seed funding, and organized a financial literacy class for participants. These interventions aim to give beneficiaries both the tools and knowledge required to build sustainable businesses.
Speaking at the event, Mr Frank Alarapon, Chief Digital Officer of Parallex Bank, explained that the collaboration reflects the bank’s commitment to financial inclusion. He stressed that the POS devices come with added benefits, such as user rewards, which can boost participants’ growth and independence. He also highlighted that the financial literacy sessions were designed to strengthen beneficiaries’ money management skills and business resilience.
Dr. Ibijoke Sanwo-Olu, Wife of the Governor of Lagos State and Chairman of COWLSO, applauded the bank for its support. She described the project as a forward-looking investment that will empower youths and women with sustainable livelihoods while also boosting financial awareness across Lagos communities.
Several beneficiaries expressed gratitude for the initiative, calling it a timely solution to unemployment and poverty challenges. They emphasized that the programme serves as a model of effective public-private collaboration, creating long-term opportunities for disadvantaged groups.
With this partnership, Parallex Bank and COWLSO have shown how collective efforts can drive social impact, empower communities, and promote inclusive economic growth in Lagos State.
