BY PETER EGWUATU

United Bank for Africa (UBA) Plc has supported the drive by the Central Bank of Nigeria (CBN) to make the country a cashless economy.

Speaking at a press launch to reveal the Lions King savings promo in Lagos on Wednesday, Deputy Managing Director, UBA Plc, Mr. Kennedy Uzoka said, “Our bank clearly support the CBN drive to make the country a cashless economy.

“The Lions King promo is part of our effort to encourage savings. Once a customer opens an account with UBA, debit card is given to such a person. This is to encourage them not to move along with cash but to go to any ATM machine and get the little money they need.”

Continuing, he said, the bank will partake in the pilot scheme of the cashless transactions to kick start in Lagos.

While, commenting on the bank’s Lions Kings promo, Uzoka said, “UBA is quite unique from other institutions because it is leading innovation bank in the country with technological edge. We are our self and it is unique to us. We are in 1`9 African countries and have operated for 60 years in Nigeria and in countries where Gross Domestic Product (GDP) are higher in Africa.

“We are one of the few institutions that provide safety for their customers and we also reward them. We would be rewarding 1050 Nigerians in this promo, the reward will be in cash because many Nigerians before cash to physical gifts.”

In its own presentation at the press launch, the Head, Retail Banking Division of UBA Plc, Mr. Chidi Okpala, said that the savings promo will end by June, 2012, adding that both existing and non customers are qualified for the promo

According to him, “ To qualify for the promo both exiting and new customer needs to pay in a fresh amount of N10, 000.00 for a minimum of 30 days.

He stated that UBA remains an industry leader in retail banking across Africa, stressing that the bank has over seven million customers, 750 branches, 1 800 ATMs and three million cards

Continuing, he said, “We are having growing internet and mobile banking customer base, leadership in local, regional and international remittances. Industry dominance across Africa remains our goal. We remain committed to consistently improving customer service and rewarding our loyal customers, hence, the Lion King promo.”

While buttressing the essence of the promo, he said, “The Lion King promo seeks to achieve the following for the bank: Reward our loyal customers, compliment current initiatives aimed at growing savings, and increase average balance per savings account”

Okpala , further emphasized that the promo is aimed to serve as an incentive for reactivation of accounts by customers with dormant and inactive accounts, increase number of profitable savings accounts, create awareness and visibility for our savings products. “To deepen our e-Banking service enrollment in support of the CBN’s “Cashless” policy, the Promo is a pilot and will be for a period of 6months.