LOTUS Bank has partnered with the Rural Electrification Agency to expand access to renewable energy in underserved communities, promoting sustainable development and inclusivity.

Its CEO, Isiaka Ajani-Lawal, said this in a statement on Tuesday in Abuja. According to him, LOTUS Bank signed a memorandum of understanding with REA, under which it will provide accessible funding of up to N100 billion to empower certified Renewable Energy Service Companies.

The managing director reaffirmed the bank’s commitment to the inclusive, sustainable development of the country.

He described the collaboration as a clear reflection of the bank’s mission to harness ethical finance to address critical national development needs.

“Our involvement with REA and the DARES programme underscores our commitment to supporting sustainable development goals while driving financial inclusion across Nigeria. We believe non-interest finance must go beyond innovation—it must deliver tangible socio-economic value to all segments of society,” Mr Ajani-Lawal stated.

REA’s managing director, Abba Aliyu, highlighted the importance of addressing financing barriers for off-grid energy developers.

LOTUS Bank’s expansion into renewable energy financing aligns with its broader strategy to deepen ethical and inclusive finance by supporting initiatives with measurable social, environmental, and economic impacts.

Since its inception in 2021, the bank has positioned itself as a “bank for all” with a strong focus on financial inclusion through innovative non-interest products designed for individuals, women, youth, and MSMEs.

The bank has also focused on community empowerment and CSR initiatives, expanding digital accessibility, and making ethical banking more accessible to people in urban and underserved areas nationwide.

It has also engaged in financial literacy campaigns and stakeholder engagement to deepen understanding and adoption of non-interest banking principles.

In recognition of its role in deepening financial inclusion and ethical finance, LOTUS Bank has been honoured several times in the banking sector.

The bank was recently named the ‘Best Ethical and Financial Inclusion Bank of the Year’ at the 2025 BusinessDay Banks and Other Financial Institutions Awards, highlighting the institution’s leadership in inclusive financial innovation. 

(NAN)