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Financial inclusion: LAPO MfB introduces savings package for low-income earners

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In a bid to encourage financial inclusion, LAPO Microfinance Bank has introduced a new savings package tagged: “My Pikin and I (MPI)” for low-income families. /strong>

This is according to a statement issued by Oluremi Akande, Head, Communications, LAPO MfB.

According to Akande, MPI account is a carefully researched product designed to provide a simple savings platform with low entry requirements.

“It is designed to help inculcate savings culture and greater financial inclusion for members of low-income households, small business owners, parents and guardians.

“Savers can open the account with as low as N200 and stand the chance of enjoying huge benefits such as: one-year free insurance cover, scholarship and interest earnings on savings,” he said.

He said the the bank had been running a three-month promo on the MPI package.

“The objective of the promo was to encourage better savings culture and discipline among low-income earners, build sustainable wealth and to increase financial inclusion.

“Over 11,000 new accounts were opened during the promo; an indication that LAPO MfB is a trusted and preferred destination for savings,” he said.

He said that LAPO MfB would continue to promote its savings products for greater adoption as a means of economic empowerment and financial inclusion.

“LAPO MfB is committed to its mandate of social and economic empowerment of members of low-income households through its responsive products and financial services,” Akande said.

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Kadiri Abdulrahman

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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