A savings challenge to encourage Nigerians to adopt a savings culture has been unveiled by Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings.
The campaign, which started on March 1, 2023, and is expected to wrap up on June 8, 2023, is targeted at @ease wallet holders of the bank.
The lender disclosed in a statement that participants would have 100 days to save a minimum of N1,000 daily or N7,000 weekly in their Stanbic IBTC @ease wallets. The top 50 savers at the end of the 100 days challenge will emerge winners of N50,000 cash each.
This exercise, according to the financial institution, will enable prospective and existing @ease wallet holders to save money towards achieving targeted financial goals and stand a chance to win cash rewards.
Wallet holders can participate in different winning categories by committing to regularly depositing a minimum of N1,000 daily for 100 days or N7,000 weekly till the last day of the challenge. Prospective customers who do not have the @ease wallet can open one by dialling *909*9# or visiting the @ease module on the Stanbic IBTC Mobile App to participate.
The Head of Mobile Financial Services at Stanbic IBTC Bank, Ms Adenike Nubi, explained that the @ease Savings Challenge was designed to provide financial freedom for customers at the bottom of the pyramid.
“This challenge further drives home the message that Nigerians should adopt healthy financial practices through saving. We also want to empower individuals to take control of their finances and reach their financial goals. Saving money can be challenging, but it is achievable with the right tools and support,” Ms Nubi said.
Also commenting, the Head of Personal Clients at the company, Mr Emmanuel Aihevba, said, “Every @ease wallet customer who makes the list of the top 50 savers at the end of every week of the challenge will be rewarded with N1,000 while the top 50 savers at the end of the 100 days challenge will be rewarded with N50,000, credited directly into their @ease wallets.
“So far, we have rewarded 200 customers in the first four weeks of the challenge. It will be exciting to see more customers achieve and surpass the weekly savings milestones, despite prevailing financial obstacles.”