Wema Bank Makes Nine Millionaires As 5 For 5 Promo Ends

Posted on April 12, 2022

Wema Bank, Nigeria’s leading innovative financial institution, has again restated its commitment to giving back to society as it successfully created nine new millionaires with its ‘5 for 5 Promo’, which ended with a final draw on Friday, April 8. 

The final promo draw held at the Wema Bank Purple Academy in Ilupeju, Lagos, was overseen by officials of the National Lottery Regulatory Commission (NLRC), the Federal Competition and Consumer Protection Commission (FCCPC), and Lagos State Lotteries & Gaming Authority (LSLGA). 

The promo, which commenced on July 1, 2021, has produced 639 winners from the country’s six geo-political zones, with N31.5 million handed out to customers. These include nine N1 million winners, 180 N100,000 winners, and 450 N10,000 winners. 

Abubakar Ayuba, a trader using the bank’s digital platform, ALAT By Wema, emerged as the final draw winner. He was informed of his good fortune via phone during the event. The overjoyed Ayuba expressed his delight through an interpreter who spoke Hausa and thanked Wema Bank for the gesture.    

Speaking at the event, the Managing Director/CEO of Wema Bank, Ademola Adebise, expressed excitement about the loyalty reward promo created as part of activities marking the bank’s 77th anniversary. 

“For the past nine months, we have rewarded our loyal customers for their patronage and support. Today we will be concluding the campaign by having our ninth and final draw. After today’s draw, 639 loyal WEMA Bank customers will have received total cash prizes of N31.5 million, this reinforces our commitment to empowering lives” Adebise said.  

The event’s highlight was the compelling testimony of Chigozie Nweke, a petty trader and one of the N100,000 winners in the December 2021 draw at the grand finale. She had invested her prize money in the yam business she started in December and scaled the business massively that by April 7, she took delivery of tubers of yam from the northern part of the country worth over N2 million.  

“I was struggling to start yam trading, and I could not register with the yam seller’s union. Wema Bank gave me N100 thousand; I paid the union money, paid my tithe, and put the rest in the business. It has not been easy, but as I speak to you, yesterday they brought yam that is more than N2 million for my business. I want to say thank you so much, Wema Bank,” Chigozie stated. 

Reacting to the testimony, the Wema MD said, “What we have seen today goes beyond supporting our customers. The testimony of the woman who started the yam business is very touching for us. We believe that this aligns with our aspirations, basically to support our customers to take them to the next level”. 

Commenting, the Senior Legal Officer, Lagos State Lottery and Gaming Authority, Mrs. Oyinkan Kusamotu, expressed satisfaction with the integrity of the 5 for 5 Promo. “The Wema Bank Promo has been excellent. I’ve seen how transparent they are. I think they are impacting lives. They are doing a lot of good, especially considering the economic situation,” she said.  

The Nigeria Lottery Regulatory Commission representative, Mrs. Nkiru Onuzulu, spoke in the same vein and commended the bank for the lives it has touched with the 5 for 5 Promo. “We know how the country is. Somebody getting N1 million, we all know what that means, and all the draws and processes have been transparent. I am happy to say that there has not been any negative report. Wema Bank has delivered on its promises, and today more winners will emerge. So, the NLRC wishes them well,” Onwuru said. 

Speaking also, Divisional Head, Retail & SMEs, Wema Bank, Dotun Ifebogun, expressed satisfaction with the result and impact of the promo. 

“Over the past eight months, we’ve had strides that cover several locations within the entire geography of Nigeria. We’ve been to Kano, Abuja, Ibadan, Benin, and Port Harcourt. The whole idea is that we are not sitting in Lagos and doing it all by ourselves. Digitally doing this will also enable anyone across the globe to be a part of this,” he said. 

Ifebogun also revealed that the promo produced more female winners. “When we set out with this promo, we didn’t know the theme for the International Women’s Day. But I can tell you that we’ve inadvertently broken the bias, as we had women as winners in this entire process. We had five female millionaires among the nine millionaires. This is not to say that the men are not acknowledged,” Ifebogun emphasized.  

The’ 5 for 5 Promo’ is one of the many ways Wema Bank is sustainably touching the lives of loyal customers and giving them a great sense of inclusion.  

Adebise emphasized this, concluding that “we are going into season 2, which will bring even better support for our customers. It will be around the usage of our platforms which is also in line with our financial inclusion strategy and sustainable goals of supporting women and rewarding our teeming customers for their loyalty to our brand.

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