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‘Financial inclusion, savings culture key to growth’


Managing Director/Chief Executive Officer, Fidelity Bank Plc, Nnamdi Okonkwo.

The pursuit of financial inclusion as a national strategy to support the poor and small businesses, as well as instill a savings culture, has been described as key to growth of the economy.

The Managing Director of Fidelity Bank Plc, Nnamdi Okonkwo, who made the observation, also said the success of the financial inclusion drive would depend on collective actions and responses.According to him, the nation’s financial institutions that are presently in the forefront of the campaign for an inclusive economy, must develop strategies to reaching the rural poor.

While speaking with journalists on the rationale behind organising series of promotions over the years, he said that the pursuit of instilling savings culture through promotions has remained an integral part of the lender.Represented by the bank’s Executive Director, Shared Services and Products, Chijioke Ugochukwu, he asserted that the promotions were focused on reaching out to the unbanked population across the country.

“We embark on campaigns like this to drive financial inclusion, in line with the financial inclusion strategy of the Central Bank of Nigeria (CBN. This savings initiatives allow us to take banking services to the nooks and crannies of Nigeria.

“It also gives us an opportunity to promote a savings culture which is critical to building up investible funds for individuals and companies and a key component of Gross Domestic Product (GDP) growth”, he said.Stating that the lender remained on course to achieve its strategic objective of becoming a tier one bank by 2022, the banker explained that building a robust and solid saving volumes for the institution was a critical pillar to attaining the aforementioned target.

Last week, Fidelity Bank unveiled a new savings campaign in Lagos, as part of concerted efforts to promote the culture of savings among Nigerians.The savings campaign, which will ride primarily on digital technologies, is one of the many initiatives of the bank aimed at rewarding new and existing customers for their unwavering loyalty and patronage.Tagged: “Get Alert In Millions Season 4”, the savings drive is expected to run till April 2020 and will see customers cart away a total of N120 million in cash prizes.


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