Financial Literacy: Fidelity Bank organises campus activation programme

As part of its desire to continue promoting financial literacy, Fidelity Bank has organised a campus activation programme at Federal College of Education (Technical), Yaba, Lagos.

The bank organised the activation programme on Monday in Lagos with a focus to bring on board 3,000 new account holders.

Speaking at the event, Mr Richard Madiebo, the Divisional Head, Retail Banking at the bank, said the campus activation was a platform through which the bank engaged students during major academic events such as matriculation, students week, convocation and others.

Represented by Mr Johnson Akaolisa, Flex Producer Manager at the bank, Madiebo said that part of objectives of the campus activation was to lecture students on the importance of financial literacy.

According to him, the bank is creating accounts for those that do not have accounts and educating students with accounts and the need to bank with Fidelity.

“We are trying to bring these students to the formal sector because most of them don’t have an account; part of the objectives of these campus activation is to lecture them on the importance of financial literacy.

“So, those that do not have account, we open account for them and those that have accounts, we lecture them on why they should bank with Fidelity because we are here to provide solutions to their financial needs,” he said.

Madiebo said this was not the first time of the bank would come to the college to organise the campus activation, saying that about 20 per cent of the students already maintained account with the bank.

Madiebo explained that most of the accounts created were being operated digitally, noting that the bank had also given consumer loans to some members of staff of the college.

“Before now, our team usually visits the college because we have students who maintain accounts with Fidelity Bank.

“But the campus activation is geared at educating students about the various digital products available in Fidelity Bank and encouraging easy adoption of these channels in a fun and exciting manner.

“Once an individual has a face and can operate the mobile phone, such a person can open either current or savings account with any amount using the activation code of *770#.

“For today, we are targeting 3,000 students which we have started to achieve. Presently, we have had close to 500 students who have opened new accounts.

“Meanwhile, our target is not only the students, but the lecturers. We also want to meet the needs of the lecturers because some of them want consumer loans,” he said.

Madiebo explained the functions of the “Fidelity Flex Account” designed for undergraduates, saying the account, which could be opened with any amount, was aimed at bringing undergraduates to the formal sector.

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