Sterling Bank PLC has received commendations from communities where it activated the financial inclusion drive and promoted financial literacy during the World Savings Day (WSD).
The WSD held last week and Sterling Bank, a pioneer in financial literacy and inclusion, having launched the Agency Banking system in 2014, joined other financial institutions globally to celebrate the Day in 12 locations across the six geo-political zones in the country.
From Igede town in Osun State, Iwo in Oyo and Yaba in Abuja, where the bank activated the financial inclusion drive and Government Science Secondary School, Naman, Adamawa, Government Secondary School, Bichi, Kano and Federal Government College, Omu Aran in Kwara State, it was praises galore for the bank seen as a the major promoter of financial inclusion and literacy in the country.
The Onigede of Igede, Highness, Oba James Adelusi Aladesuru, praised the bank for selecting the town as a beneficiary of the programme adding that the gesture would not only promote financial inclusion drive but support the economic development of the town. The monarch also called on the lender to see the need to establish a full fledge branch in the town.
“Igede people are very industrious. We are into agriculture and a lot of people come from every part of the state to buy goods from us so there is a lot of economic activities in the state. So, the establishment of a bank in the town would further promote economic activities and lead to the development of the town,” he said.
For the people of Yaba, a rural community in the Federal Capital Territory and Iwo in Ibadan, the Oyo State capital, the financial inclusion programme organised by the bank “has opened our eyes to the importance of embracing banking having listened to the various advantages”.
A high chief of Iwo town, who would not want his name in print, was delighted that the bank could give out small loans to those who bank with them to expand their businesses at a very reasonable interest rate.
His words: ”Ours is a small community, and we trade everyday so we keep our money with us because the banks are concentrated in the city center. But with the assurance that the Agents would always be available to assist us and that we could also bet small loans to expand our business we are confident that our people would take advantage of this to grow our business”.
To celebrate the WSD, the bank adopted two locations across each of the six geopolitical zones where IT deployed staff in engaging pupils on financial literacy and financial inclusion to reduce the number of people excluded from the banking sector.
The celebration of the WSD started in 1924 during the first International Savings Bank Congress. To promote savings, banks celebrate WSD with the support of schools, clerics, as well as cultural, sports, professional, and women’s associations.