LOTUS Bank bags BusinessDay’s ‘Best Ethical and Financial Inclusion Bank of the Year’ Award
LOTUS Bank, one of Nigeria’s leading non-interest and ethical financial institution, has been named the “Best Ethical and Financial Inclusion Bank of the Year” at the 2025 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
The award held in Lagos affirms the bank’s growing impact in promoting ethical finance and deepening financial inclusion through non-interest banking models.
Since commencing operations in 2021, LOTUS bank has positioned itself as a disruptor in Nigeria’s financial services sector, offering shariah-compliant banking products designed to foster shared prosperity, transparency, and economic empowerment.
The bank’s rapid growth and customer-centric approach have earned it recognition as one of the key players driving the adoption of alternative banking models in the country.
With a clear focus on underserved populations and small businesses, LOTUS bank has rolled out a suite of innovative, interest-free financial products tailored to the needs of Nigeria’s diverse communities.
Receiving the award on behalf of the bank, Isiaka Ajani-Lawal, Acting Managing Director expressed appreciation to BusinessDay and reiterated the bank’s commitment to ethical, inclusive finance.
“This award is a reflection of our core philosophy that banking should be a force for good,” Ajani-Lawal said. “At LOTUS Bank, we are intentional about building a system that not only provides access to finance but does so with integrity, empathy, and innovation. We dedicate this recognition to our customers, partners, and employees who continue to believe in our vision of ethical prosperity.”
The BusinessDay BAFI Awards, now in its 12th edition, is one of Nigeria’s most prestigious platforms for recognising outstanding performance, innovation, and leadership in the banking and broader financial services industry. Each year, the awards spotlight institutions that are reshaping finance, driving inclusion, and contributing to national development.
LOTUS bank’s recognition in the ethical banking and inclusion category comes as no surprise to industry observers. The bank has consistently advanced its mission to deliver value-based banking, prioritising social impact, customer trust, and financial access for the underserved.
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“We see this recognition not as a destination but as motivation to continue deepening financial inclusion and building a more equitable banking future for all,” Ajani-Lawal added.
As the bank expands its footprint across Nigeria, the Acting MD reiterated that ut would remain guided by its core values of Partnership, Prosperity, and Progress, working to support small businesses, empower communities, and promote sustainable economic growth through non-interest financial solutions.
