Ally Microfinance Bank targets 20,000 families for December promo

Ally Microfinance Bank says it is targeting not less than 20,000 families for its 2023 December Jollification Savings Plan, where customers will be rewarded with food items worth twice their actual savings.

Mr Bayonle Omoyele, the bank's Chief Executive Officer (CEO), stated this on Saturday in Abuja at the bank's end-of-year party.

Omoyele said that the bank made a significant impact in the lives of families who saved money from January to December 2022 for the December Jollification Plan, indicating that there are plans to boost the customer base to 20,000 families in 2023.

"2022 has been wonderful. In 2022, we will have been able to put smiles on the faces of people through our December Jollification Plan.

"Our December Jollification Plan is a family plan that feeds and rewards families at the end of the year with food items worth twice their actual savings."

"Families that save up money from January to December get food items like bags of rice, groundnut oil, tomato paste, semovita, and other items as incentives for their savings."

"A Plan-A customer who contributed N37,200 through savings will get items worth not less than N50,000 under this December jollification plan, which is similar to the Plan-B customer."

"So in either plan, they are getting twice the value of their savings and cultivating a saving culture."

"And we are targeting 20,000 families that would benefit from this December joy savings plan in 2023," he said.

Omoyele said that in 2023, the bank would have been in business for 10 years, and as part of its cooperative social responsibility (CSR), it would be empowering 500,000 secondary school students with agro-business skills and start-up grants to boost financial independence.

He said that the goal is to encourage early self-reliance and financial freedom and imbibe a savings culture in students from an early age.

"This year, we empowered just three students, but next year we would make it massive in the Federal Capital Territory (FCT)."

This year, we will give out gift items, including a brand new Toyota Corolla car, television sets, freezers, generators, and many other gift items to be won via raffle draw.

"But next year, we hope that all of our esteemed customers in all the savings plans and especially the December jollification plans will go home with an item in celebration of our 10-year anniversary," he said.

He said that 2023 would also be an awareness-creation year for the bank as it would provide financial inclusion to its customers by bringing banking services with ease to the doorsteps of those at the grassroots.

According to him, this would also help those with Bank Verification Numbers (BVN) access financial services with ease from their homes.

"Statistics show that 40 percent of Nigerians are still unbanked, which means 40 percent of Nigerians do not have access to financial services."

"So we are working on how we can take up the responsibilities of the unbanked and encourage a savings culture," he said.

Mrs Rita Ezeh, Ally Managing Director, said that the bank had grown over the years, both in staff strength and in customer patronage, due to its low interest rates on loans and staff welfare prioritization.

Ezeh said that the bank is also thriving in the mainstream financing business because its expert bankers and microfinanciers are dedicated and committed to their personal goals and the bank's goals.

"We pride ourselves on customer satisfaction, and without any doubt we have been able to satisfactorily help all our customers make profitable business investments with little interest."

"All our customers are satisfied and pleased with our services and existence because we are licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Cooperation (NDIC), and we have been in business operation since November 2013," she said.

She urged Nigerians to neglect the bias on Microfinance banks, adding that they were only in existence to bridge the gap between unconventional banking and to provide easy access to facilities and build the savings culture.

The News Agency of Nigeria (NAN) reports that Ally Microfinance Bank was incorporated on May 30, 2013. It began its business operations in November 2013 and is duly incorporated in Nigeria under the 2002 Companies and Allied Matters Act.

It has several branches across the FCT.