Banks in fierce jostle for education market


Campaigns ongoing at LASU, Unilag, OAU and other campuses

By John Eche


Nigerian banks are presently locked in a fierce jostle for the tertiary education market, The Difference can reveal.

Checks by this newspaper in the departing month of October show that the campaigns are being staged almost all across the country with institutions in the South West getting a very huge dose of concentration.

Among campuses where the campaigns are already ongoing are the University of Lagos, the Obafemi Awolowo University and the Lagos State University.

And this time, the focus is not primarily on the accounts of the universities themselves but rather on growing their subscriber base through lsigning on large numbers of account holders.

With campaigns like free bus rides and save and win promos, the competing financial institutions are stretching out very aggressively to tap into this burgeoning market space.

An analyst with a firm understanding of the psychology of the market says that beyond their advertised product profile assertions and the basic need to continue to grow their subscriber base, is the supervening reality that in a troubled economy, only critical services continue to get the much needed attention.

In his view, education being one such critical service area, the banks are not likely to lose in this arena.

Encouragingly, the introduction of new online based technologies in the banking system is also helping to drive the message down the line in the campuses.


A #UBAFreeCampusRide team soliciting students at LASU recently



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