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In order to deepen financial inclusion, achieve poverty alleviation, support customers to build sustainable wealth and encourage savings, Lift Above Poverty Organisation (LAPO) microfinance bank, has rewarded 101 of its customers with N5 million in its LAPO XPRESS Save & Win season 2 promo, themed “Double Double”.
At the raffle draw held in Lagos recently, Ms. Halisu Kabiru (a customer from Zaria), won the star prize of N1 million while 100 customers won N40,000 each as consolation prizes.
Speaking, the managing director of LAPO, represented by Mr. Oluremi Akande, Director, Marketing and Communications, said the financial institution would sustain the gesture as a way to appreciate people who believe in them. “It’s about save, earn, win, and become a millionaire. This year is a double of what we did last year, next year would be greater” he assured.
Akande said that LAPO reward system is part of its empowerment scheme through financial inclusion. “Savings is a way to building sustainable wealth especially in this critical time. At December 2023, we closed with over N40bn in savings. It’s better to save a little than not saving at all. With N200, you can start saving.”
Similarly, the Head, Corporate Planning of the bank, Mrs. Dorcas Thorpe, maintained that to be qualified for the raffle, customers must have been able to save a minimum of N30,000 in three months. “The criteria is just save at least 30,000 within Three months (save 10,000 for every month), then you would be part of the entire raffle.
“Today we are over Eight million customers. During the season 1 Promo, we had barely fifty thousand customers, but Season 2 has brought us more customers and savings of N1.8bn. Moreover we have varieties of products for customers to invest. Savings is the first step to financial independence. People should imbibe the culture of savings,” she implored.
For Mrs. Gloria Bako, Executive Director, Corporate Services, LAPO’s words are its bonds. She stressed, “LAPO Xpress savings was designed to prove to our customers that we keeps our words and we remain optimistic”
Bako added that LAPO was delighted in its sustained contribution to the growth of Nigeria economy through the provision of easy access to formal and responsive financial products and services, especially savings products, which enable its customers to earn interest, save for future needs, and also stand the chance to be lucky winners of its 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, small and medium enterprises through the provision of responsive financial products and services delivered most responsibly”
To save for the future of a child, the Head of Retail Banking & Operations, Lawani Ehinoria, said a parent can open what they called ‘My Pikin & I’ account, save N5000 monthly for three months and stand a chance to win big prizes. “You can open this account for your child below 18, after 18th year, he/she would take over as the account holder.
“For the first three months we provide insurance of N20,000 against ear infection, malaria and typhoid for your child. After six months, your child is qualified for secondary school scholarship, so long as you save a minimum of N200 daily, and N60,000 at the end of six months, N15,000 for the first three months, and another N45,000 for the next three months which N60,000 in all, then if your child pass our qualifying aptitude test. We sponsor his secondary education fully” he averred.
