Tag: Ecobank Nigeria

Ecobank Launches Super Rewards Season 3; 100 customers to get N50,000 Monthly

Ecobank Launches Super Rewards Season 3; 100 customers to get N50,000 Monthly

Ecobank Nigeria has launched Season 3 of its Super Rewards Campaign. The customer-focused initiative is designed by Ecobank to reward customers loyalty, with Season 3 set to reward 100 customers with cash prizes of N50,000 monthly, while 2 customers will go home with N1 million each at the end of the Season. The two-month campaign kicks off  June 20 and will run through to August 21, 2022.

Announcing the commencement of the new season in Lagos, Korede Demola-Adeniyi, Head, Consumer Banking, Ecobank Nigeria said season 3 promises to be bigger with 100 customers benefiting N50,000 each. She stated that participation is open to both new and existing individual customers of the Bank, who qualify to be rewarded, while also enjoying a first-grade banking experience.

“Now is the perfect time to open an account with us or reactivate and fund your dormant account. The Super Reward campaign which was initiated by Ecobank in March 2021 is designed to promote a healthy savings culture amongst Nigerians and reward customers’ loyalty to the Ecobank brand. The success of season 1 and 2 campaigns followed by customers’ demand led to the introduction of Season 3. Both Seasons 1 and 2 have produced a total of 8 Millionaires and 1600 customers being rewarded N25,000 weekly in batches of fifty per week”. She stated.

Speaking on the dynamics of the campaign, Daberechi Effiong, Head, Consumer Products, Ecobank Nigeria, said the conditions to qualify for the campaign are simple and easy to ensure both new and existing customers participate and get rewarded. According to her, “New customers only need to open an account with a minimum of N5,000 while existing customers should make minimum deposits of N5,000. Customers with dormant account will also qualify when they reactivate and fund their account with a minimum of N5,000.

She further explained that qualifying customers will be rewarded monthly. “Rewards will be done monthly for the 2 months starting from July, 100 customers will be rewarded with N50,000 monthly. There will be two grand prize rewards of N1 million each at the end of the campaign.” She enjoined those that are yet to open an account with the bank to do so to enjoy the benefits of our bouquet of products and services.

Ecobank Nigeria Ltd. is a subsidiary of the Ecobank Group, the leading pan-African banking group with operations in 33 African countries and an international presence in four locations (London, Paris, Beijing, and Dubai). Ecobank is a major player in the distribution of financial services in Nigeria, leveraging digital platforms including Ecobank Mobile App and USSD *326#, Ecobank Online, Ecobank OmniPlus, Ecobank Omnilite, EcobankPay, Ecobank RapidTransfer, ATMs, POSs and an extensive distribution network of over 250 branches and over 50,000 agency banking locations.

Ecobank Nigeria Launches Super Rewards Scheme; 50 Customers to Get N25k Weekly

  •  4 Customers To Get One Million Naira Each at the end of campaign

Ecobank Nigeria has launched the Super Rewards Scheme, which gives 200 of its customers an opportunity to earn different cash gifts monthly, with four of them becoming millionaires at the end of the four months campaign. Korede Demola-Adeniyi, Head, Consumer Banking, Ecobank Nigeria, who announced the commencement of the campaign in Lagos , said the scheme is designed by Ecobank to reward customers’ loyalty, explaining that 50 customers with the highest deposit will be rewarded with cash prizes worth N25,000 weekly. The campaign runs between March and July 2021. 

 

Demola-Adeniyi stated that participation is open to both new and existing individual customers of the Bank, adding that, this is the perfect time to open an Ecobank account or reactivate and fund  a dormant account to qualify for the reward and enjoy a first-rate banking experience. “Fifty (50) customers with the highest deposit will be rewarded with N25,000 every week.  And four customers with the highest deposit and transaction value within the campaign duration will be rewarded with N1 million naira each.”

 

Speaking on the dynamics of the scheme, Daberechi Effiong, Head, Consumer Products, Ecobank Nigeria, said the conditions to qualify for the scheme are simple  and easy to ensure both new and existing customers participate and get rewarded.  According to her, new customers are expected to open an account with a minimum of N5,000 and maintain the deposit for a 30-day period; same she noted applies to existing customers, who only need to fund their active account with a minimum of N5,000 or reactivate their dormant account with a minimum of N5,000 and maintain the deposit for a 30 day period. Other conditions she noted are listed on Ecobank’s website, she also explained that customers can withdraw funds from their account during the campaign period but will  only be qualified for the reward when they maintain at least a balance of N5,000 in their account.

 

Further, Mrs. Effiong noted that the beneficiaries of the reward will be announced every week  on different platforms, including the Bank’s  social media handles like Facebook – @EcobankNGR, Twitter and Instagram – @ecobank Nigeria and direct communication to customers. She stated that “the bank will also send congratulatory SMS/email to the beneficiaries of the reward. She further explained that a customer can be rewarded more than once. “However, they will be required to make additional deposits and fulfill the other conditions for eligibility.” She advised those seeking further enquiry to do so via the Bank’s social media platforms and contact centre.

Ecobank Nigeria announces the pricing of its Senior Unsecured $300 million bond

Ecobank Nigeria (“ENG” or “the Bank”), a wholly owned subsidiary of leading pan-African banking giant, Ecobank Transnational Incorporated (‘ETI’), the parent company of the Ecobank Group, announced that it has successfully priced its USD 300 million bond issuance maturing in February 2026, with settlement of the bond to take place on 16 February 2021.

The fixed-rate, US dollar-denominated bond, with a tenor of 5 years, carries a coupon rate of 7.125% and will be listed on the London Stock Exchange. It is accompanied by an Issuer Rating of B- from Fitch Rating Agency and S & P.  The coupon / yield represents the lowest ever coupon / yield achieved by a Nigerian financial institution for a benchmark bond transaction. At the peak of marketing the transaction, the issue was over 3 times oversubscribed, with significant interest from international investors. The transaction opened with Initial Price Thoughts (‘IPT’s’) of 7.75% and finally tightened to close at 7.125% on the back of robust demand. The strength and depth of the book demonstrated global investors’ strong appetite for the Ecobank franchise in Nigeria, a testament to the strength of the Ecobank Group. This transaction is the first non-sovereign bond from Africa in 2021 and is milestone capital raise for the banking sector in Nigeria, giving Ecobank access to global debt capital markets, and more favorable credit terms, commensurate with its strong financial position and robust capital structure. For international investors, it represented an attractive option to gain exposure to Nigeria.

This transaction followed a series of virtual global investor calls, with a number of blue-chip local, regional and international financial institutions, led by Citi, Mashreq, Renaissance Capital and Standard Chartered Bank as Joint Lead Managers and Bookrunners.

Commenting on the issuance, Mr. Patrick Akinwuntan, Managing Director of Ecobank Nigeria, said: “Despite the challenging global environment owing to the COVID-19  pandemic, and on the back of a successful NGN 50bn Tier 2 issuance in December 2020, ENG was able to successfully issue and price Nigeria’s first 2021 senior unsecured 5 year bond transaction. Ecobank Nigeria, through this issuance, is being  proactive in optimizing its capital structure as it continues to drive its medium term growth strategy of establishing itself as a leading facilitator of pan-Africa and international trade and payments.”

Mr. Akinwuntan continued, “I would like to extend my appreciation to our regulators, the Central Bank of Nigeria, for their timely support and continuous guidance, in granting necessary regulatory approvals.”

He further added: “We believe that our  capital raising activities are  key steps forward towards strengthening ENG beyond the regulatory ratios in addition to diversifying ENG’s medium-term financing sources. ENG is poised for continued growth in the Nigerian financial services industry.”

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