To Ease Child Training, LAPO Unveils My Pikin & I Account

By Augustine Adah

Determined to ease that burden of child upbringing and other benefits, LAPO Microfinance Bank on Monday unveiled a new product tagged; My Pikin & I.

The new product which is meant for old and new customers gives parents the opportunity to open an account for a child as low as N200. The account can be maintained until the child attains the age of 18.

While unveiling the product, Head, Corporate Planning, LAPO Microfinance Bank, Dorcas Thorpe disclosed that My Pikin & I Account was introduced in order to make child training easier for parents especially those whose income cannot easily take care of children’s need.

She stressed that the bank decided to bring down the minimum opening balance to N200 in order to allow average low-income earners the opportunity to save for the future of their children.

 She said, “With just N200, you are qualified to open the account and save the same  amount on a daily basis, till the child  is up to 18 years”

She stressed that any customer that grows the account to N15,000 within 90 days is qualified for free insurance against fire, burglary, and disability.

In addition, Thorpe said those who can move to the second stage and save up to N45,000  within the next three months would qualify for LAPO Scholarship.

She explained that customers that can grow their savings up to N90,00 in another three months would have an additional interest rate of two percent.

She urged customers to take advantage of the new offer to plan for their children’s future.

Earlier in his welcome address, the Managing Director of LAPO Micro Finance Bank, Dr. Godwin Ehigiamusoe, stated that My Pikin & 1 Account was part of the six assumptions that they had at the inception of the bank about 30 years ago.

He said, “One of our assumptions was that Women and Children are neglected in the society.

“We want to go further in supporting women that is why we came with the new account, My Pikin & I.”

Ehigiamusoe decried the lack of saving culture in Nigeria and expressed confidence that the new product would address the challenge.

LAPO Microfinance Bank which has been in existence for about 30 years, has consistently won the award of Best Microfinance Bank of the Year since 2014.

With Head office in Benin, Edo State and Annex in Lagos, LAPO has branches spread across 36 states and FCT.

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