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Building Savings Culture
through Promotion
Specifically, our bank has been em-
powering the people at the bottom of
the pyramid by inculcating in them the
culture of savings and exposing them
to the multiplier effects of investment
which is as critical to the revitaliza-
tion of the African economy. We have
been able to achieve this by develop-
ing products targeted at mobilizing
savings and investments from both the
lower and middle class of the popula-
tion, not just because they constitute
a very large market but also because
of the potential of spurring national
development from the grassroots.
In the last six years, the bank has made
concerted efforts towards promoting
a savings culture through innovative
and rewarding promotions, with a
view to developing the economy and
empowers the people. These promo-
tions have been such that just for sav-
ing a little amount every month, a per-
son could be elevated into affluence
with a dramatic change in lifestyle.
Since 2006, there have been several
savings campaigns with the ongoing
UBA Lion King Savings Rewards Promo
being the sixth in the series. The UBA
Lion King Savings Reward Promo which
commence on November 2011 will see
over 1,038 customers rewarded with
cash. 7 UBA customers will win the sum of
N5 million each in the Super Grand Draw
while 1026 savings account customers of
the bank will win cash prizes between
N50, 000.00 to N1million in 23 Week-
ly Draws which will run for 6 months.
At one of the weekly draws held at UBA’s
Head Office in Lagos on January 5th 2012
and observed by representatives of the
National Lottery Regulatory Commission
(NLRC) and Consumer Protection Coun-
cil, (CPC), Mrs. Sabo Alhassan, a savings
account customer with account domi-
ciled in Sanni Abacha Barracks, Abuja
became the third millionaire to emerge
in the UBA Lion King Savings Rewards
Promo. This was after Mrs Hoomsuk Mag-
dalene, a savings account customer with
account domiciled in Yelwa; Plateau
State won the sum of one million naira
in a computerized draw. She became
the second millionaire to emerge in the
promo after Mr. Okorie Sunday Stephen,
a savings account holder with the Bank
won a million naira in the inaugural draw
of the promo. This is not forgetting conso-
lation prizes ranging from N100, 000.00
and N50, 000.00 that is won every week
by 37 lucky customers. To qualify for both
the weekly and grand draws, open to ex-
isting and new customers of the bank,
existing customers of the bank are ad-
vised to make a one-time minimum fresh
he importance of savings in the eco-
nomic advancement of any nation
cannot be overemphasized even
as any economy that does not make
conscious effort to galvanise its people
to adopt a savings culture is merely
“consuming its future in the present”. It
is important to note that increase in sav-
ings can have a positive spiraling effect
on the entire economy while decrease
in savings especially at the macro-eco-
nomic level naturally sends a warn-
ing signal on the state of the economy.
There is no doubt that banks hold the
key for the economic emancipation of
any country and as one of Africa’s big-
gest banks; with operation in 19 African
countries, UBA is committed to the em-
powerment of Africans by inculcating
a healthy savings culture as a means
of helping the national economy on the
path of growth. Indeed, savings cul-
ture of Africans can be improved if vi-
able savings schemes and programmes
are adopted by all relevant players in
the economy. As a result, UBA has over
the years been able to look beyond its
primary business of making profit and
have been at the forefront of inculcating
a savings culture amongst Africans by
implementing savings promotion for Af-
ricans to live better lives and bequeath
something for the generations to come.
by Ebi Akpeti
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