LAPO MFB rewards customers to encourage saving

Oluwanifemi Ojo
Oluwanifemi Ojo
LAPO Microfinance Bank

Some customers of Lapo Microfinance Bank have received cash prizes as a reward in the bank’s raffle draw promotion and for saving.

The Punch reported that the draw was during an event organised by Lapo that took place live at the bank’s head office in Lagos to encourage savings culture among Nigerians.

During the promotion, a total of 170 consolation prizes were given to winners, while the top prize of N500,000 was awarded to the winner with the highest performance.

The Head, Corporate Planning Department, Lapo, Dorcas Thorpe said, the event also aimed at encouraging customers to bank with them as they also offer financial services.

In her words, “For the customers, they would rather go to commercial banks to save and come to microfinance banks to collect loans. So we wanted to change the perception that we are not just for credit, but we are also a bank and offer different financial services.

“That is why we want to use the promo to push savings culture among our customers and the public in general.”

She stated that for low-income earners, savings are essential in building resilience and providing a safety net for unexpected emergencies.
“From the winners, we want people to know there is benefit in savings and we want people to know that Lapo is a brand that has been there for more than 30 years.
“The amount you save with us is yours and the benefit is yours,” Thorpe added.

According to her, Lapo introduced a savings promotion in November 2022, which lasted for three months. The promotion encouraged customers to open a Lapo Savings Express account and save at least N10,000 per month for three months, with a chance to win prizes.

She mentioned that within the last few months, Lapo had experienced an increase of 43,000 new accounts, and they had mobilised over N160m.

The top winner of the promotion, Sherifat Haruna, who sells foodstuff, plastic rubber, and other delivery items from a Yola branch, expressed her happiness.

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