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Lapo Microfinance Bank has rewarded its customers with cash prizes in its raffle draw promo.

During the live draw that took place at its head office in Lagos, Lapo said it organised the event to encourage savings culture among Nigerians.

At the promo, 170 winners got consolation prizes, and N500,000 was won by the star winner.

Speaking at the event, the Head, Corporate Planning Department, Lapo, Dorcas Thorpe said, it wanted the customers to bank with it.

She said, “For the customers, they would rather go to commercial banks to save and come to microfinance banks to collect loans. So we wanted to change the perception that we are not just for credit, but we are also a bank and offer different financial services.

According to her, savings build resilience for the low income earners to fall back on in terms of emergencies.

She said Lapo launched the savings promo in November 2022 to run for three months, and the promo encouraged the customers to open a Lapo Savings Express account, and save a minimum of N10,000 monthly for three months to be one of the luck winners.

Over the last couple of months, she said, 43,000 new accounts joined and there had been mobilisation of over N160m.

The star winner from a Yola branch, Sherifat Haruna, who sells foodstuff, plastic rubber and other delivery items, expressed her delight.

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