The Lagos State Sports Commission has entered a strategic partnership with Parallex Bank to revolutionise payment solutions for athletes and foster talent development across the state.
Speaking at the meeting, the Director General, Lagos State Sports Commission, Lekan Fatodu, who led the state’s delegation to the Head Office of Parallex Bank in Victoria Island, explained that the engagement aimed at igniting a mutually beneficial collaboration.
He said that it was a pivotal step in driving the state’s agenda in creating sustainable opportunities in sports by empowering athletes with the resources and support needed to achieve excellence.
According to him, the partnership is set to pave the way for a more efficient and transparent financial system within the sports sector, ensuring that athletes receive their payments promptly and through secure and efficient channel, while also investing in the next generation of sports talent in Lagos.
Fatodu explained that the commercial bank shares a similar interest with the state’s development agenda of bringing innovation to sports, with the broader goal of promoting long-term success of athletes both on and off the field and improving the sporting ecosystem across the state.
“By introducing a streamlined payment system, we are not only improving the welfare of our athletes but also encouraging a culture of excellence within Lagos sports. Our athletes are our pride, and we are committed to ensuring they receive the support they deserve to excel,” the Director General said.
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In his remarks, the Managing Director and CEO of Parallex Bank, Olufemi Bakre, disclosed that the proposition between the Commission and the bank aligns seamlessly with the institution’s mission to support initiatives that make meaningful impact on society, particularly in empowering youth and fostering sustainable growth through sports development.
Bakre emphasised that the commitment of the bank to back sports development was a significant step in the bank’s endeavour to advance communities and create opportunities that extend beyond the playing field, ultimately driving positive social and economic outcomes.
He further said: “This strategic collaboration marked a major milestone in the bank’s commitment to creating value for every citizen, regardless of their status. And given the demographic that the Commission leads and interacts with, many of whom fall within the population our bank seeks to support with various financial interventions, supporting athletes and nurturing emerging talent is an investment we are fully committed to.”
Emphasizing the bank’s dedication to supporting the advancement of sports in Lagos State, the Managing Director also said that Parallex Bank was honoured to establish a strategic partnership with the Lagos State Sports Commission, adding that the aim is to enable talent development and provide a seamless and efficient payment solution that meets the specific needs of athletes, ensuring they are well-compensated for their hard work.
The meeting was attended by top-level officials of Parallex Bank and senior management members of the Lagos Sports Commission.
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