Ecobanks MD lists gains of Naira Credit Card


December 08, 2006/punch



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<DIV class=byline>The Managing Director/Chief Executive, Ecobank Plc, Mr. Offong Ambah, has described the Naira credit card recently inaugurated as a means of reducing the volume of cash transactions in the country. He spoke at the formal presentation of the product into the Nigerian financial market on Thursday in Lagos. </DIV>
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<P>The payment card, which offers clean credit line to meet the credit need of the cardholder, was presented two years after the bank also introduced the first dollar denominated credit card, the Ecobank MasterCard.</P>


<P>The Ecobank boss said that the Naira Credit Card would cause a renewed focus on the furtherance of trade and commerce within the West African sub-region in general and Nigeria in particular.</P>


<P>According to him, “We will continue to expand our product portfolio which currently includes, current accounts, savings accounts, credit and debit cards, consumer finance, loans and advances, investment banking and asset management, and regional and international trade. </P>
<P>“The Ecobank Naira Credit Card is an endorsement of our faith in Nigeria and Nigerians. We affirm that the average Nigerian is industrious, hardworking and honest and so Ecobank is making available in the form of naira credit card, collateral free credit, thus enabling Nigerians of all walks of life to achieve their dreams.”</P>


<P>He said the bank’s believed that the naira card would complement the ongoing reforms in the Nigeria’s financial sector in various ways, adding that it would also encourage the drive for a cashless society as it offered a convenient mode of payment and had the added advantage of allowing access to immediate credit within defined limits. He said, “Especially significant is the fact that it will reduce the volume of cash transactions in the country which may often expose one to undue risks.” <EM><SPAN style=\"COLOR: #a9a9a9\">- punch</SPAN></EM></P></DIV>

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