Moniepoint: Unexpected Expenses Disrupt 73% of Nigerians’ Savings Plans, Urges Everyone to Stay “One Step Ahead”
Moniepoint Microfinance Bank, the definitive bank for small and medium-sized businesses in Nigeria as well as their customers and employees, has announced the launch of a heavily enhanced savings account product line, backed by a new brand campaign themed “One Step Ahead,” starring Nollywood superstar Funke Akindele, popularly known as Jenifa.
The move comes at a time where many businesses and individuals are grappling with global economic uncertainties even as consumers across Nigeria are demanding simpler, more flexible ways to save with an increased demand for tools that not only build financial discipline but lay a real foundation for wealth.
Moniepoint’s response is a firm demonstration of its commitment to financial inclusion, giving people and businesses the confidence to save toward whatever their goals may be.
The campaign, “One Step Ahead” is built on a simple but powerful insight: for most people, the primary enemy of financial growth isn’t low interest rates, it’s life happening unexpectedly.
The data backs this up. In a recent customer survey, unexpected expenses account for 72.8% of savings disruptions, while irregular income affects 51% of savers nationwide.
Rather than pushing a single, rigid savings plan, Moniepoint is championing something more valuable for the consumer – the peace of mind that comes with a versatile savings account built for long-term goals, yet flexible enough to absorb whatever curveball life throws next.
Speaking on the savings campaign, Babatunde Olofin, Managing Director of Moniepoint Microfinance Bank, expressed his excitement about what the new savings solutions mean for customers:
“These innovative savings solutions were developed specifically to ease customer pain points. Our ecosystem gives everyone the flexibility to grow their money and access it whenever they need it, combined with some of the best rates in the market — an offering that is truly unique.”
Olofin added that the mission behind the savings drive goes beyond the numbers: “Our mission is to create financial happiness for everyone. A savings product like this is a critical tool for ensuring people can confidently make their dreams come true while saving for both rainy and sunny days.
The power and discipline to save help propel individuals and businesses toward their goals, while mitigating the harsh effects of unforeseen circumstances. Backed by the reliable digital payments infrastructure we’ve built, our customers can find safety, immediate access to liquidity, and the confidence to stay one step ahead of the future while mitigating the harsh effects of unforeseen circumstances.”
Serving over 20 million business banking and personal customers, the product features four distinct savings products tailored to different lifestyle and cash-flow needs. Except for premium tiers, users can jumpstart their savings journey with as little as a ₦1,000 minimum deposit.
Target Savings allows customers to withdraw up to 50% once without losing their interest, earning up to 11.5% p.a. Flexible Savings permits up to 4 withdrawals a month without losing interest, earning 9.5% p.a. Fixed Deposit pays interest up front, with rates of up to 17.5% p.a., while Save As You Transact allows customers to save as they spend and withdraw whenever they like, with no restrictions on access.
In a market where competitive interest rates are scarce, Moniepoint’s new product line provides a great alternative for customers leveraging the bank’s all-in-one solution to transact, save, and earn high interest on a platform backed by reliable service.
Non-Moniepoint customers can easily stay one step ahead by downloading the Moniepoint business or personal banking mobile app, completing the simple online setup, and fulfilling the regulatory KYC protocols to open their account.
To bring this to life, the campaign’s choice of Funke Akindele within the Jenifa’s Diary universe as a creative anchor is auspicious. The show has aired since 2015, now spans over 20 seasons, and remains a fan favourite still in rotation on local and terrestrial TV, with the hair salon setting of the series offering the perfect backdrop to tell Moniepoint’s savings story within a world audiences already know and love. #Moniepoint: Unexpected Expenses Disrupt 73% of Nigerians’ Savings Plans, Urges Everyone to Stay “One Step Ahead”# Moniepoint Unveils N3bn Commitment for Innovation Hubs in OAU, UNN, ABU
