Ecobank Customer, Others Win in CBN E-payment Incentive Scheme

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EcobankEcobank customer, Julie Chioma Ukwosah has emerged one of the winners in the ongoing Central Bank of Nigeria (CBN) Electronic Payment Incentive Scheme (EPIS). At the raffle draw conducted in Lagos, Adeyinka Adejuwon, who banks with GTBank emerged the first prize winner. He went home with N100, 000; the first runner-up was Julie Chioma Ukwosah who banks with Ecobank won N50,000 while the second runner-up, Jerry Boakye-Mensah banks with Diamond Bank and got a N15,000 cash prize.

Commenting, Funso Oyelohunnu, Head, Acquiring Cards and e-Banking Department, Ecobank Nigeria, commended the CBN reward initiative, stressing that it would further encourage the use of e-payment channels. She noted that the emergence of Ecobank customer as one of the winners of the draw attest to the efficiency of the Bank’s e-payment channels. “This is a great initiative. As a bank we are glad that one of our customers is one of the winners. This is a further proof that our various e-payment channels are efficient. This is an opportunity to urge both customers and non customers of the bank to make our e-payment channels their choice,” she said.

Speaking during the redemption of prizes in Lagos for the first three winners, representative of the Banking Payment System Department of the CBN, Isah Abubakar, said the apex bank will keep giving the desired support for the EPIS project. He commended the transparent process used in selecting the winners, noting that the cash-less banking initiative is helping to promote financial inclusion and getting banking to the grassroots. “The CBN is behind the incentive scheme and will support any project that takes banking to the grassroots,” he said.

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Executive Director, Business Development at NIBSS, Mrs. Christabel Onyejekwe, said it was the need to drive universal usage of electronic payments in the country that prompted the management of the CBN to approve an industry-wide incentive scheme and awareness campaign for electronic payments for stakeholders and users.

The EPIS idea was first conceived in March 2013 which was followed by Workshop in December 2013 driven by NIBSS amongst other key stakeholders like banks, several card schemes among others. Following the submission of the proposal CBN approved the EPIS in September 2014 with a Go Live/Implementation date for November 2014.