Ecobank Nigeria has been actively rewarding its customers through its ‘Ecobank Super Rewards, the Millionaire Geng Season’ initiative, which has resulted in significant cash prizes distributed during monthly and quarterly raffle draws. In September 2024, the bank rewarded 88 customers with a total of N8 million. Of this amount, 80 customers won N50,000 each, amounting to N4 million, while eight winners each received N500,000, adding another N4 million to the prize pool. This latest round of rewards has brought the overall cash distribution since the onset of the raffle draws in July 2024 to N16 million, reflecting Ecobank’s commitment to customer loyalty and engagement.
The announcement of the latest winners took place on a Friday in Lagos, and was led by Mr. Odjegba Otega, the Regional Head of Ecobank’s Apapa-Isolo Region. Otega revealed that the monthly draws consisted of 20 winners from each of the four bank divisions. This structure was designed to ensure broad participation across geographical regions, which include the FCT and North, South-South and South-East, Southwest and Midwest, and Lagos. Notably, the event was conducted under the supervision of representatives from regulatory bodies including the Federal Competition and Consumer Protection Commission and the National Lottery Regulatory Commission, ensuring transparency and accountability.
In terms of participation, a substantial number of customers qualified for the monthly and quarterly draws, indicating high levels of interest and engagement. For the monthly draw, 291,253 customers met the eligibility criteria, with distributions across the four divisions: 79,923 from the FCT and North, 84,848 from the South-South and South-East, 64,904 from the Southwest and Midwest, and 61,578 from Lagos. In the quarterly draw, 140,951 customers were eligible, reflecting a similar breakdown. This widespread participation demonstrates Ecobank’s successful outreach and the effectiveness of their promotional strategy to engage existing and potential customers alike.
Otega emphasized that these raffle draws were an integral part of Ecobank’s strategy to recognize and reward its customers for their loyalty. He highlighted the importance of customer appreciation, saying that the bank wants to celebrate and acknowledge those who choose to bank with them. In line with this strategy, Mr. Victor Yalokwu, the Head of Consumer Product and Segment at Ecobank Nigeria, reiterated that the raffle was designed to benefit both new and existing customers, fostering a sense of belonging and community.
To qualify for the rewards, customers must maintain a minimum balance of N10,000 in their accounts for at least 30 days. This requirement serves to encourage customers to save and engage in healthy banking practices. The bank plans to distribute a total of N42 million in cash rewards throughout the promotion, with 512 customers set to receive these prizes across various categories, including monthly, quarterly, and a grand finale. As of now, 240 customers have already been rewarded through the monthly draws, and eight winners have emerged from the quarterly draw.
The promotion is set to continue with monthly draws scheduled for November and December, culminating in an exciting grand finale where eight lucky winners will each receive N2 million. This structured approach not only maintains customer interest but also enhances the bank’s reputation for providing tangible benefits to its customers. Overall, Ecobank’s Super Rewards initiative serves as a strategic method of strengthening customer relationships and fostering customer loyalty by recognizing and rewarding the valuable connections they have built within the banking community.
