Communities laud Sterling Bank’s financial inclusion, literacy drive

Sterling Bank Plc has continued to receive commendations from communities where it activated the financial inclusion drive and promoted financial literacy during the just-ended World Savings Day (WSD).

The 2016 WSD was held last week worldwide 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 in Oyo State Iwo in Osun State and 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, it was all commendation galore for the Bank seen as a the major promoter of financial inclusion and literacy in the country.

The Onigede of Igede, His Royal Highness, HRM, Oba James Adelusi Aladesuru commended 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.

While commending the bank for opening an Agency office in the town, the monarch called on the Bank to see the need to establish a full fledge branch in the town.

His words: “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 are 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”.

For the people of Yaba, a rural community in the Federal Capital Territory and in Ibadan, the Oyo State capital, the financial inclusion programme organized 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”.

As part of efforts to celebrate the WSD, the Bank adopted two locations across each of the six geopolitical zones where IT deployed staff to engage students on financial literacy and financial inclusion to reduce the number of people excluded from the banking sector.

The celebration of WSD started in 1924 during the 1st International Savings Bank Congress. As part of efforts to promote this culture of saving, banks all over the world celebrate WSD with the support of the schools, the clergy, as well as cultural, sports, professional, and women’s associations.

In Nigeria, World Savings Day was first celebrated in 2014 when the CBN visited 14 public secondary schools to educate students on the importance of developing the habit of saving from a very early age.

In collaboration with the members of the Bankers’ Committee, the CBN has facilitated out-reach programmes such as Commemoration of the annual “World Savings Day 2016”, where students were taught about the importance of saving.