Uchenna Okezie, Managing Director, Nuture Technology Ltd., on Monday urged Nigerians to cultivate the culture of saving for uncertainties.
Okezie gave the advice at media parley in Lagos to launch the MoneyBag.ng mobile apps savings platform.
He regretted that many Nigerians have the will to save, but were not principled enough to save and he stressed that that MoneyBag is about the customer since he makes them to be “disciplined to save” and it also very convenient for the user as well.
Okezie said: “MoneyBag enables individuals to grow their savings and also enforce discipline on their savings which eliminates the temptation of withdrawing from their savings at will.”
He stated that MoneyBag is an online and mobile app savings platform targeted, particularly at the youths to make them cultivate saving culture and also enhance the living standards of the people since it encourages more savings, investments and earnings at the same time.
He said: “Over the past 10 months, we have been testing this product we are launching today to see how it is suitable and satisfies majority of the populace targeted.
“All over the world, saving part of your income can be very hard and often times we spend all our income on things that we don’t need or on things just come up and we don’t have a choice than to spend.
“The main focus is to workout modalities to make saving easy because most people have the will to save, but do not have the saving principles.
“Savings, investment and lifestyle are all infused in MoneyBag app to enable customers to save, invest and improve their lifestyles.
“MoneyBag is not just about savings, but allows you to get high interest on every savings made.”
He also assured Nigerians that they have nothing to worry about concerning traffic glitch on the site stressing that the company is already an IT company so it will naturally think of ways of solving any IT related problems even before it arise.
Lanre Fadayomi, Chief Operating Officer, Nuture Technology Ltd., said that the company was partnering with FBN Insurance, MoneyLine, Premier Africa, GTBank, among others to ensure security and effectiveness of the platform.
Fadayomi stated that the partnership with Premier Africa would ensure that the company get the licence to bring the product to the market and he emphasized that MoneyBag is a transparent, flexible, secured and reliable platform that encourages the culture of savings in Nigerians.
He said: “It allows flexibility savings as users can choose to save daily, weekly or monthly. Users can save towards a specific target or choose to place a withdrawal restriction on the account.
“There is no limit to the amount that can be saved on one’s account.
“There is an allowance for free withdrawal at three months intervals.
“You can choose your own free withdrawal dates, but withdrawals out of the withdrawing limit and period, attract a five per cent penalty fee.
“It also allows access to loans, but the applicant would have saved money with MoneyBag for at least 90 days.”
Commenting, Audu Oladokun, Head, Retails and E-Business, FBN Insurance, said that money remained the most scarce commodity in the world and because of this, there is great need to ensure that one’s savings was properly secured through insurance.
According to him, FBN Insurance is currently partnering with the Future Technology on insurance of MoneyBag app saving platform.
He added: “At FBN Insurance, MoneyBag.ng is insured, meaning that every kobo invested into it is well secured.”
The Eagle Online reports that there are numerous ways a customer can save and they include: auto save, back locker, click bag and others.
Trending
- Sanwo-Olu: We’ve fulfilled our promises
- Upholding Democracy: The imperative of credible party primaries in Nigeria, by Adebanji Dada
- FG revokes 924 dormant mining licences as minister decries racketeering
- Why I didn’t build schools as Anambra governor, Peter Obi replies Omokri
- Establish base in Sambisa forest, Zulum tells Army
- EFCC withdraws appeal against former Kogi Governor Bello
- Fidelity Bank commends Air Peace’s performance
- How AI, automation, and trusted data are shaping next-generation customer service, by Linda Saunders