In alignment with its financial inclusion drive, First Bank of Nigeria Limited says it has introduced a promotional campaign aimed at rewarding its youth segment customers for using their FirstBank XploreFirst savings accounts, while also encouraging healthy savings habit.
In a statement, the bank said the promo, which kicked off on October 1, 2018, would run for six months to March 30, 2019.
The bank said, “XploreFirst is a First Bank savings account variant designed specifically for students between the age range of 18 and 29 years. A minimum amount of N1,000 is required to open the account and account holders are to maintain a minimum balance of N200 to run the account.
“To participate in the promo, XploreFirst customers are encouraged to save or maintain a minimum amount of N10,000 in their accounts during the promo period to be eligible for the scholarship raffle draw. Incremental deposits of N10,000 in the account entitles the account holder to multiple tickets for the raffle draw.”
It stated that a total of 198 winners would emerge from the promo with 18 account holders (three from each of the six geopolitical zones) to be rewarded with scholarships of N150,000 in a grand finale raffle draw and N5,000 airtime as consolation prizes to 180 account holders (five from each of the six geopolitical zones).
The bank’s Group Head, Products and Marketing Support, Mr Abiodun Famuyiwa, said, “First Bank recognises the impact of a healthy savings culture in promoting financial inclusion among individuals, especially the youth. We believe that with XploreFirst account, the youths are well positioned to take the lead in their financial activities through the exciting benefits the account offers.”