Nigerian banks resort to electronic foreign currency payments as liquidity crunch worsens

By Modupe Gbadeyanka

Some Access Bank customers have won various prizes in the first phase of the AccessMore Mega Reward Program for the lender.

One of the winners, Mr. Precious Nwuba, returned home with 1 million naira. According to him, he reluctantly participated in the exercise and was surprised to emerge victorious.

“I heard about the program and reluctantly decided to participate. I forgot everything, and when I was told that I had won 1 million naira, I couldn’t believe it; I felt that was a lie. But the bank urged me to visit my branch in Ondo State, and that is where I confirmed that I had indeed won N1million.

“I am grateful to God and the bank for coming up with this initiative in the midst of tough times in the economy. I would spread the word about it; it is still a miracle for me,” Mr Nwuba said. during the weekend presentation.

Access Bank designed the promotion as part of its strategy to offer simple, efficient and rewarding banking services using its AccessMore mobile application.

According to the bank, N10-12 million will be distributed to its customers by December 2022.

Access Bank Marketing and Communications Manager Ms Chioma Afe said the app was launched in 2020 to encourage customers to use the app to transact due to the lockdown.

She noted that the bank has seen an increase in app traffic and has decided to reward its customers by introducing the reward initiative in 2022.

“We kept it simple. We kept it in the app, and we said, if you earn N100 on rewards, you can just redeem it quickly, or we keep reminding you because it’s available for you for a while.

“You can use it to offset bills like lighting bills, cable bills, and so we’ve seen customers do that regularly from 2020.

“So in 2022, we decided to do something to reward our customers so that more people can enjoy the rewards and see the benefits for them, especially to refer other customers and give them something extra.

“So we have fixed some money, and I think we will give around 10-12 million naira including travel by December. Therefore, we have amazing cash prizes, gadgets, iPhones and other prizes for our customers,” Ms. Afe said.

To corroborate it, Rob Giles, Senior Banking Advisor, Retail Banking at Access Bank, said that the first phase involved the bank rewarding around five customers with N100,000 and N1 million, while adding that the second phase of the program of rewards will be by December.

Giles said, “The steps to take advantage of the rewards on the app are quite simple. Simply download the AccessMore app, register (sign up) and opt in to Access Rewards & Referrals on the app to get 100 points.

“Each full referral you make earns you 100 extra points. Once you onboard 20-30 new people on the AccessMore app, you will get 2000-3000 points respectively, which gives you the chance to win cash prizes up to 1 million naira.

“Customers can also have a chance to win iPhone 13 phones and other cash prizes of N100,000 and N50,000 and other amazing rewards. What’s great is that the more trades you make, the more points you earn.

The Access Bank AccessMore application is a unique payment application based on state-of-the-art technology, offering tailor-made and personalized services and an excellent customer experience. The app is easy to use and is available for download on Android PlayStore and iOS Store.

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