Nigeria’s forward moving commercial bank has disclosed that customers savings across all its banking channels have increased since the commencement of the Millionaire Geng Promo.
The Mobolaji Lawal-led lender made this revelation at the weekend during the grand finale of the monetary reward to loyal customers of the bank.
The magazine reports that the commercial bank awarded N42 million some to customers as part if its commitment to encourage saving culture in the country.
Speaking at the event, t bank’s Head of Consumer Banking, Adeola Ogunyemi said the promo is not only about wining but the need for customers to set some money aside to ensure their “financial security and long-term stability” because of emergencies.
She urged customers not to eat up their earnings by saving in naira and other foreign currencies.
The Promo, “is not just about winning cash prizes; it is about financial security and long-term stability,” Ogunyemi stated adding that the need to save for the future has become very essential in the face of the current economic crisis in the country.
She explained: “With the fluctuating value of the Naira, we have encouraged our customers to save consistently, whether in Naira or foreign currency.
“This has led to a steady rise in deposits across the banking sector.
“Many people don’t realise the importance of saving until they face emergencies. No matter how much you earn, it will never be enough if you don’t discipline yourself.
“This initiative is about showing our customers that every amount saved adds up over time.
“A country’s economic growth is influenced by how much its citizens save. Over the last six months, we have seen tremendous growth in savings, with customers becoming more conscious of the need to save.
“Month after month, deposits have increased, which is very encouraging.”
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