One of Nigeria’s lenders, Wema Bank plc has unveiled a N90 million reward for its customers under the 5 for 5 Promo Season 3.
The promo which will run for one year starting from July 1, 2023, according to the bank, will see two customers of the bank winning the star prize of N1 million each every month, in addition to several other cash prizes – ranging from N10,000 to N50,000 to be won by other customers.
“We always feel the need to do more for our customers, even beyond seamless banking—and giving back is one way we do that. Over the years, we’ve built a community and communities should be a support system, so it was very important to us that we become that support system for customers.
“This is the foundation and the motive behind the creation of the Wema Bank 5 for 5 promo. We came up with the 5 for 5 promo as a way of giving back to our customers and rewarding their loyalty to the bank,” said Tunde Mabawonku, executive director, retail and digital banking, represented by Olusegun Adeniyi, executive director, finance & digital optimisation, at a news conference to unveil the season 3 promo, on Friday.
Also speaking, Ayodele Olojede, divisional head, retail banking, Wema Bank, said the 5 for 5 promo was launched in 2021 and in the past two seasons, the bank has had over 1000 winners.
On how the promo works, Olojede said: “We reward active Wema Bank customers and we measure level of activity based on transactions and funding of accounts. So every transaction takes you a step closer to winning, whether you’re using your Wema Bank or ALAT Debit or Credit card, your ALAT app or USSD banking, which you can access by just dialing *945#.
Olojede explained the basic requirements for a customer to qualify for the promo and be a part of what would be a monthly draw, to include: “Fund your Wema Bank account with at least N5,000 monthly, maintain an average account balance of at least N5,000 monthly, and make a minimum of 5 transactions monthly using your ALAT Debit card, ALAT app or *945#.”