Wema Bank Takes Savings Products to LASU


Wema Bank Plc is promoting savings culture and digital banking experiences among the newly admitted students of Lagos State University (LASU).

Speaking during the LASU 2017 orientation programme, held at its Ojo campus, Wema Bank Regional Manager, Apapa, Femi Olowoyeye, said the lender had been participating in institution’s orientation programme for the past two years, with the aim of boosting students’ digital banking experience and offering quality services.

He said the students were expected to open Wema Bank Purple Account with N1,000 minimum opening balance and a student Identity Card to make it easier for the new students. He said the bank’s partnership with the institution would boost the students love for savings.

Olowoyeye said the account holders can activate their accounts on phones, text messages, SMS Banking, USSD, mobile banking which usually excite the youths.

“They can go to their banks via phones. They do cash withdrawals from ATMs without their cards. So, we are making these things available because they are the future of banking,” he said.

Continuing, he added: “We are hosting the orientation programme for the second time because of the partnership the bank has with LASU which we hope would continue for many years to come. One catch-it young strategy allows us get into the campus, encourage students to open an account, save their money. Everyone that complies wins something instantly which ranges from 32 inches LCD television, smart phones, among other prizes.”

Olowoyeye said the new customers also get instant account numbers, ATM card and also enroll on the Bank Verification (BVN) network where necessary. The ATM card, he added, can be activated instantly.

“It is part of the bank’s drive to deepen financial inclusion in line with the Central Bank of Nigeria (CBN) policy. We are trying to encourage savings culture and also ensure that we are there for the new students in the future. While we want matured people to have accounts, we also want the younger generations to also have accounts,” Olowoyeye added.

The regional manager said nine branches of the bank within the Apapa region and staff from key units- retail, brand and marketing, e-business among others from the head office, featured in the exercise. However, some relationship officers were left at the branches to cater for customers while the exercise was going on.