Nigerians urged to adopt savings culture for efficient resource management

Nigerians have been urged to adopt savings culture and other financial techniques that would help secure the...
future.The Regional Bank Head, Lagos Island of Fidelity Bank Plc, Obiajulu Okafor, said imbibing right savings culture and other financial principles would ensure efficient management of resources.He said: “Most of the problems we face are due to lack of savings and adequate planning. If we improve the culture of savings, we will surely see the reflection on the bigger economy.
 
“When you make money, you first save before you consume. Saving culture creates some level of responsibility, even in our homes, we are taught to save.”Okafor, who spoke in Lagos, on Tuesday, said the bank is poised to promoting the CBN financial inclusion policy as well as improving savings culture in Nigeria.
 
“This is why we continue to reward our customers who have been with us, saved with us, and grown their balances with us.”Earlier, the Managing Director/Chief Executive Officer, Nnamdi Okonkwo, said the bank has concluded plans to reward 13 customers with N16 million in the categories of N2 million and N1 million respectively, and 19 consolation prizes in form of fridges, television sets and power generating sets in its ongoing monthly promo.
   
Okonkwo, who has represented the Executive Director, Shared Services and Products, Chijioke Ugochukwu, added that at the end of the draw, the bank would have rewarded customers with N50 million in cash and 54 consolation prizes to over 93 winners.
“We would have given out a total of N50 million in cash and 54 consolation prizes to over 93 winners. We expect more winners to emerge at subsequent draws because the promo is still on and in addition to the N50 million that we will be giving out, we still have N70 million and several consolation prizes yet to be won,” he said.The  Head, Savings group, Fidelity Bank Plc, Janet Nnabuko, explained that both existing and new customers can participate by simply topping their account with N10,000 for existing customers or someone opening a new account and building it up to N20,000.