Mu’azu wants commercial banks assist rural populace
WITH the launching by the Central Bank (CBN) Redesigned currency for the country, Bauchi state governor, Alhaji (Dr.) Ahmadu Adamu Mu’azu has called on commercial banks to assist the rural populace in the process of changing the redesigned notes and coins.
According to the governor, some disgruntled elements in the society might capitalize on the ignorance of the rural dwellers and cheat them in the process of changing the new notes and coins.
Governor Mu’azu, who was speaking at the launching of the Union Bank Plc new products in Bauchi, held at Awalah Hotel, observed that the bank’s services are carefully designed with the interest of customers in mind.
He stressed the need for the banking industry to strive at all times, towards meeting the challenges of the ordinary persons and expressed gratitude for the services being provided by the banking industry to the people of the state.
The governor, who was represented at the occasion by the permanent secretary, ministry of budget and planning, Alhaji Abubakar Othman, explained that the services could not have been introduced at a better time than now when banks every where are struggling to bring new ideas and innovations into the banking system.
Alhaji Mu’azu assured the bank that the state government has not relented in its desire to provide enabling environment for banks and other businesses to flourish in the state.
According to him, the government has provide good road network, communication, water supply and electricity supply in all the 20 local government councils in the state.
Earlier speaking, the managing director of the bank, Mr. Bartholomew Bassey Ebong had observed that bank can only make meaningful progress in today’s fiercely competitive business environment if it pays adequate attention to the needs of customers in different, market segment.
The managing director, who was represented at the occasion by Mr. Authory Esegbiedo, told the gathering that it became imperative for the bank to broaden the range of its product, in order to keep abreast of changes in client base hence the launching of the new services.
Mr. Ebong explained that the new products are geared towards ensuring that the bank retains its dominant position in Nigeria’s financial landscape by coming up with value-added and technologically driven products and services to meet its customers, needs and expectations.
He said the new services, union galazy ever, plus and life time are targeted at different customer segments which included children, teenagers young graduates and civil servant, businessmen and women and pensioners among others.
Ebong further explained that the new products have a number of value-added features among which are, greater account flexibility higher the than normal interest rate yields, direct linkage of deposit with loans and cross guarantees by association members.
Other features, he said are portfolio management services, insurance covers for account holders, third party with draws through cheques, concessionary rates for commission on turn over (COT) and inceptive gifts to be won through participation in promotions.