Breaking News

Oceanic Bank to instil financial discipline in Nigerian Children

By Michael Eboh
As parts of activities marking Children’s Day, Oceanic Bank International Plc has announced plans to empower and inculcate the habit of savings, financial discipline and effective financial planning skills on children and youths in the country.

According to a statement by the bank, it is proud to be associated with Children in Nigeria and across the globe, a factor which has necessitated the introduction of a number of benefits and attractive products to meet the needs of the children.

According to the bank, this year’s edition of ‘Oceanic Children Banking Month’ has been focusing on teaching children on how to be financially responsible and independent from an early age.

The statement reads, “The bank, in conjunction with parents and other key players in the society, such as schools, churches, mosques, hospitals among others, have held events to help position our children as the leaders of tomorrow.”

The bank noted that as the celebrations progress, it will continue to offer as follows: presentation to children and parents at different locations nationwide to show the material rewards of developing a savings culture, fun fare for children in centres nationwide and instant gifts for children who open an account in May 2010.

The bank further stated that it will provide a zero per cent equity for customers who apply for the Quality Education Loan (QED) in May 2010, instead of the normal 10 per cent.

The bank further stated that it plans to reward outstanding customers within the current financial year through rewards for customers who achieve and retain specified balances in their savings accounts, quiz competitions and workshops, discounts through merchant partners and redeemable ‘MyFirst’ gift vouchers as birthday gifts for children all over Nigeria.

The statement reads, “At Oceanic Bank, we not only encourage parents to open accounts for their children, we go further to teach parents and children about managing money and planning for their future.

“The following facts about the ‘MyFirst account’ are worthy of note: it is for individuals under 18 years of age, it offer minors an opportunity to save part of their pocket money and other monetary gifts, · Parents can use it as a practical lesson on the benefits of money management and it can be opened for only N2,000.

“The Oceanic Quality Education Loan (QED) is another product the Bank has designed to empower children to get the best of education.

“Taking the Oceanic Bank QED loan is the perfect way for parents and wards to rid themselves of the worry of not being able to pay school fees. QED is the acronym for Quality Education Loan and is the simplest way to take care of school fees for all levels of education both locally and overseas.

“The QED loan though not a new product has been enhanced with new features which make it a much more attractive loan for the parents, guardians or working students who need to take care of school fees.

“Oceanic Bank wishes all children a ‘Happy Children’s Day’ while remaining committed to promoting economic independence and prosperity across the nation.


Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof.