Baobab Nigeria launches new savings product

Baobab Nigeria, a subsidiary of Baobab Group, has introduced into the financial market a savings application product known as Jollof+.

The savings platform is designed to provide individuals and families with easy access to high-interest savings accounts, fostering financial growth and security.

“Jollof+ is a cutting-edge savings application offered by Baobab Nigeria that is focused on mitigating the negative impact of inflation on the savings of Nigerians, said, Eric Ntumba, acting CEO.

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According to him, Jollof+ is an innovative financial platform that integrates four savings options into a user-friendly mobile app. Available for download on both the App Store and Google Play, Jollof+ ensures that users can manage their financial activities seamlessly, whether they are saving for a future goal or just interested in cultivating a healthy saving habit while enjoying the best interest in the market.

The bank offers four key saving options and features, which include, JollofLock, Ajo+, BabyBox, and Jolloflex.

JollofLock allows users to lock their funds for a specified period, earning higher interest rates compared to regular savings accounts. Interest on this plan is 24 percent per annum (p.a). In terms of benefits, it is ideal for medium- to long-term savings goals, Interest on savings paid upfront. The product helps users maximize their returns by committing their savings for fixed durations.

Hope Moses-Ashike

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.