The Group Managing Director/Chief    Executive of Union Bank of Nigeria Plc, Dr Barth Ebong has said that given the current global financial meltdown, the nation’s economy needs to be stimulated particularly to give the banking public the motivation and leverage to deepen banking culture.

Dr Ebong who was fielding questions from journalists at the first raffle draw said that the on-going savings bonanza is the bank’s contribution towards assisting the Federal Government to stimulate the nation’s economy.

He averred that the savings bonanza was a sort of motivation and leverage to the banking public to continue banking despite the impact of the financial meltdown emphasising that the bonanza was also a testament that despite the financial meltdown, Union Bank is still big, strong, reliable. “The primary aim of the bonanza is to reward customers for their unalloyed loyalty to the bank over the years while encouraging them to continue their banking culture” he said.

Earlier at the media launch, the Chief Executive had posited that money outside the banking system was estimated to be over one trillion naira as at the end of 2008, stressing that the bonanza was aimed at bringing the money into the banking system.

Under the bonanza, he pointed out five categories of incentives for participants.  The prizes are the lucky dip-instant win for customers who deposit N10,000 and above into their savings account; lucky dip grand – 180 motor cycles to be won by customers who deposit a minimum of N30,000 into their savings account for 90 days and the gold prize for N25million different cash gifts for customers who deposit N50,000 and above in their savings account for 90 days.

Others are the super grand prize – 36 Toyota corolla cars, to be won by customers who deposit a minimum of N100,000 into their savings account for 90 days while the ultimate stallion prize – three Toyota Prado Jeeps and two houses; a 3-bed room bungalow in Abuja and luxury flats in Lagos to be won by customers who deposit the sum of N250,000 in their savings account.

Meanwhile, the Bank had showcased the benefits of the bonanza to its numerous customers in different parts of the country.  These are Owerri, Port Harcourt, Benin, Ibadan, Kano, Kaduna, Abuja, Lagos and Uyo
The Abuja Zonal Coordinator and Deputy General Manager of the bank, Mr Louis Ezeonyim echoed the position of the chief executive, adding that no amount of gift items or prizes given to the customers could be deemed too much for the loyalty of the customers to the Bank.

Apart from inculcating the banking culture into the people and rewarding their loyalty to the bank, Ezeonyim said that it was also aimed at creating awareness for the bank’s array of products and services that are targeted at babies, teenagers, students, youth corps members, newly employed and pensioners, adding that Union bank caters to the need of its customers from the cradle to the age of retirement.

Meanwhile the bank had took the savings bonanza roadshow to Abuja at the weekend to excite the entire federal capital territory as customers took their turn to endorse the programme.