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Ecobank Nigeria Launches MySME Growth Series

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….to Empower Over One Million SMEs

Lagos, January 31, 2024 – Ecobank Nigeria, a subsidiary of the Ecobank Group, the leading pan-African bank has launched an innovative training program targeted at empowering operators of small and medium enterprises (SMEs) in the country. Through the initiative, titled MySME Growth Series, the Bank will train over 1 million SME operators across the country in 2024. Announcing the programme in Lagos, Osahon Akpata, Head, SME & Partnerships, Ecobank Nigeria, said the empowerment program is line with the Bank’s commitment to power the success of SMEs in different sectors of the economy. “Ecobank aims to train 1 million SMEs in Nigeria to improve their capabilities and stimulate growth. We are launching the first phase of our training program – MySME Growth series, a selection of virtual bootcamps led by facilitators who are experts in their fields. SMEs are the growth engine of Nigeria’s economy contributing almost 50% of GDP and 90% of jobs. As a bank that is growth focused, Ecobank is committed to the success of SMEs in different sectors of the economy,” he said.

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Banking and Finance

LAPO MFB Customer Wins One Million Other Consolation Prizes 

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LAPO Microfinance Bank Limited, a leading microfinance institution in Nigeria, announces the culmination of the LAPO Xpress Save & Win Promo Season 2 with a raffle draw, which saw the emergence of the lucky winner of the grand prize of One Million Naira (₦1,000,000) and other consolation prize winners of Fourty Thousand Naira (₦40,000.00) each from the promo.In a press release issued by the bank, Mr. Oluremi Akande, Director, Marketing & Communications, states, “We have carefully designed the Xpress Savings account, a tier one savings account with basic account opening requirements and a minimum savings deposit of as low as N200. The key objective of the Xpress savings account is to further deepen financial inclusion, achieve poverty alleviation, and invariably support our customers to build sustainable wealth.”“Furthermore, Akande reiterates that it is advisable to spend what is left after savings rather than save what is left after spending.

L-R: Dorcas Thorpe, Head, Corporate Planning, LAPO Microfinance Bank; Kemi Adebiyi, Senior Legal Officer, Lagos State Lotteries & Gaming Authority (LSLGA); Nwaochei Jane, Assistant Chief Administrative Officer, National Lottery Regulatory Corporation (NLRC); Gloria Bako, ED, Corporate Services, LAPO Microfinance Bank; Oluremi Akande, Director, Communications and Branding, LAPO Microfinance Bank; during the LAPO Xpress Save & Win Promo Season II Raffle Draw Event which held recently in Lagos.

Interestingly, the Xpress Savings Promo Season 1 attracted participants from across the country, with Mrs. Sherifat Haruna, a resident of Adamawa State, emerging as the star prize winner of the sum of N500, 000, and 100 customers won N20,000 each as a consolation prize.Consequently, the LAPO Xpress Savings Promo Season 2 was themed “Double Double,” which reflects the bank’s proactive response to the current socioeconomic realities and its genuine commitment to empowering our customers. The management of LAPO Microfinance Bank decided to increase the prizes upwards from N500,000 as a star prize to 1,000,000 and the consolation prize from N20,000 to N40,000 for 100 lucky winners, respectively.Today’s raffle draw saw the emergence of Halisu Kabiru from our Zaria 1 branch in Kaduna State as the lucky star prize winner of a whooping sum of 1,000,000 (one million naira) as well as 100 other lucky winners of 40,000.00 each. We are delighted to continue to contribute to the growth of the economy through the provision of easy access to formal and responsive financial products and services, especially savings products, which enable our customers to earn interest, save for future needs, and also be lucky winners of our cash prizes.LAPO Microfinance Bank remains committed to its over 30-year mandate of empowerment of members of low-income households and owners of micro and small-medium enterprises through the provision of responsive financial products and services delivered most responsibly. About LAPO Microfinance BankLAPO Microfinance Bank, an offshoot of the Lift Above Poverty (LAPO) Organization, originated in the late 1980s as a response to the fallout of the Structural Adjustment Program (SAP).The organization was incorporated in April 2007 and licensed to operate as a regulated state microfinance bank by the Central Bank of Nigeria (CBN) in 2010. It became a national microfinance bank in 2012.LAPO Microfinance Bank offers a diverse range of financial products and solutions to assist micro, small, and medium enterprises and members of low-income households. Operating in 34 of Nigeria’s 36 states, including the Federal Capital Territory, Abuja, it boasts an extensive network comprising over 500 branches.

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Banking and Finance

Ecobank SuperSavers Account Holders Get Up to Nine Percent Mouth Watering Interest Rate

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Lagos, January 29, 2024 – Ecobank Nigeria, a subsidiary of the Ecobank Group, the leading pan-African banking group has announced mouthwatering interest rates on its SuperSavers accounts. SuperSavers account is a high-yield savings account type tailored for customers who wish to maximize their returns on savings while benefiting from a customer-focused banking experience. The six months reward programme runs between January and June, 2024. The Head of Premier Banking & Wealth Management, Ayodele Osolake, says this is part of the Bank’s strategic initiatives to continuously encourage a savings culture enabling customers of the Bank earn more money to safeguard better financial future. “At Ecobank, we make it easy for our customers, by providing a special high-yield account type to warehouse their funds securely instead of them falling prey to speculative and windy investment windows. Beyond the high yield and financial safety, our clients retain the flexibility to access their funds when required.

Further, she said “Ecobank is mindful of the economic challenges and will constantly encourage our customers to hedge against possible future financial downturn enabling them to meet demands like travels, school fees, building projects among other life demands. The Supersavers Account (which comes in local and foreign currency variants) encourages them to save and build their wealth simultaneously. It is packaged in such a way that customers would benefit immensely. I want to encourage our new and existing customers to make the best of this opportunity.” Ms. Osolake explained that “To qualify for the additional interest rate, customers need to open and fund their supersavers Naira account, with a minimum deposit of N500,000.00 while building the account up gradually. She clarified that customers could still retain access to their funds being entitled to 2 withdrawals per month without losing the benefit of the SuperSavers interest rate!

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Banking and Finance

Union Bank Pledges Seamless Service as New Management Resumes

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Union Bank of Nigeria has reassured its partners, customers and critical stakeholders of continued excellent service and seamless operations following the recent appointment of its new Managing Director/Chief Executive Officer, Yetunde Oni, by the Central Bank of Nigeria (CBN).The bank assured its customers that as a long-standing financial institution in the Nigerian banking industry, it will continue to provide top-quality services and products while operating under the best tenets of corporate governance as enshrined within the guidelines of the CBN.Under its new leadership, the bank pledged to sustain and drive initiatives that will continue to enable customer success and increase positive business growth.New Union Bank Managing Director Yetunde Oni promised to maintain its legacy as a proudly Nigerian institution steadfast in its commitment to enabling success for its robust customer base. Speaking soon after her resumption, she said:“Union Bank is an iconic financial institution with over 106 years of history providing top banking services to the Nigerian people. Under my stewardship, we will maintain our proud heritage and continue to be part of the growth and the success story of Nigeria and its people for the foreseeable future.”The bank also assured all its customers of smooth operations in its vast network of branches nationwide and unhindered access to its top-notch, technologically innovative products and services. Depositors were also assured of the safety of their funds and urged to use their various channels for inquiries or assistance in resolving any issue.

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