Stanbic IBTC Bank has announced the launch of the fourth season of its Reward4Saving Promo, through which it will distribute over N130 million to its customers. The initiative is designed to reinforce the bank’s ongoing commitment to encouraging a savings culture among Nigerians.
To qualify for the campaign, customers need to deposit and maintain a minimum of N10,000 in their @ease wallet or savings accounts for a period of 30 days. The more N10,000 increments a customer saves, the higher their chances of winning.
Since the inception of the Reward4Saving Promo, the bank has recorded 1,900 winners who have shared a total of N318 million. This year alone, 874 individuals are expected to benefit from the new N130 million reward pool.
Commenting on the campaign, the Chief Executive of Stanbic IBTC Bank, Wole Adeniyi, reaffirmed the institution’s commitment to financial inclusion and customer support. He said,
“We are committed to empowering our customers to achieve their financial goals. The Reward4Saving Promo is our way of saying ‘thank you’ to our loyal customers and encouraging them to develop a savings culture.”
The selection process for winners is carried out transparently, with representatives from the National Lottery Regulatory Commission and the Advertising Regulatory Council of Nigeria overseeing the draws. The campaign has twice earned recognition at the Industry Awards as “The Most Transparent Consumer Promotion.”
New participants can take part by opening a Stanbic IBTC Bank Savings Account and depositing at least N10,000. Once this amount is kept in the account for a minimum of 30 days, they are automatically entered into the promo.
Meanwhile, in another move within the banking sector, Sterling Bank recently made headlines by eliminating charges on local online money transfers. The policy, announced via the bank’s official X (formerly Twitter) account on April 1, 2025, initially raised suspicions of being an April Fool’s prank.
The post read: “NIGERIANS ARE NO FOOLS! Enough Is Enough. No more quiet suffering. We’re doing our part by cancelling Transfer Fees. Let the other banks copy.”
In the same tweet, Sterling Bank tagged several other financial institutions—including First Bank, Fidelity Bank, UBA, Access Bank, GTBank, and Stanbic IBTC—urging them to adopt similar measures.
Later, the bank issued an official statement confirming the new policy was indeed real and effective immediately. With this step, Sterling Bank becomes the first major Nigerian financial institution to waive transfer fees on digital transactions.
