Parallex Bank has partnered with the Committee of Wives of Lagos State Officials on the empowerment project to mark its silver jubilee.

In a statement on Thursday, the bank said the partnership resulted in the donation of 100 Point of Sale machines, provision of seed money for beneficiaries, and a financial literacy class at an event held at the office of the First Lady of Lagos State.

COWLSO said the anniversary project underscored its enduring commitment to the welfare of women, youths, and vulnerable groups in Lagos.

Chief Digital Officer of Parallex Bank, Mr. Frank Alarapon, said the partnership was in line with the bank’s corporate social responsibility initiatives aimed at empowering young Nigerians and bridging the financial inclusion gap.

He said, “Parallex Bank is committed to the financial inclusion drive and will continue to support COWLSO in empowering and educating the indigents in Lagos State. The Parallex Bank POS machines come with several benefits, including rewards for users, which will help enhance their financial growth and independence.”

Alarapon explained that the empowerment programme was designed not only to provide equipment but also to equip participants with financial knowledge. According to him, the financial literacy sessions will help beneficiaries build stronger foundations for long-term business sustainability and responsible money management.

The Chairman of COWLSO and the Wife of the Governor of Lagos State, Dr. Ibijoke Sanwo-Olu, commended Parallex Bank for standing with the committee and the state government to support young people.

She said, “We commend Parallex Bank for standing up to support the committee and the state. 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.”

Beneficiaries of the project described the initiative as a timely intervention in addressing unemployment and poverty among the youth. Many participants noted that the programme would serve as a legacy project, providing a model for public-private collaboration in tackling socio-economic challenges.