Wema Bank Plc has introduced Royal Kiddies and Purple Account to empower children and young adults educationally.
The Executive Director and Head, Lagos and South-South of the bank, Mr. Ademola Adebise, said in Lagos on Wednesday that the products were introduced to satisfy the yearnings of the customers’ demand for a future savings account for their children.
“The accounts were borne out of feedback from customers and years of collaboration with various stakeholders to develop a niche product that can serve the yearnings and needs of the young people in Nigeria whilst also providing an assured foundation for their future,” he said.
The Divisional Head, Retail Bank, Wema Bank, Mr. Akinlolu Ayileka, said that the products would facilitate entrepreneurial development in the country.
He stressed that the products had been dedicated to provide for the educational needs of children and adults.
He said, “We understand that education is the bedrock of development for the economy. Everything is dependent on knowledge and skills, which the Royal Kiddies and Purple Account has been specially designed to meet. It will also help parents and guardians to meet the specific needs of their children and young adults.”
The Product Manager, Omolola Omoyele, explained that the account had benefits that put the future of any child in a safe mode with life assurance cover of 10 times the account balance.
“The Royal Kiddies Account is for children between the ages of zero and 13 with life assurance of up to N10m in case of accidental death or permanent disability of parent or guardian.