Keystone Bank, one of Nigeria’s financial institutions, has launched a ground-breaking product known as – ‘The Keystone Apprentice Savings Account.
The new product, also known as ’ Oga Account,’ allows a customer to save towards building up funds to settle an apprentice upon the completion of their apprenticeship.
Speaking at the launch,Maiyegun Helen Iyobosa, Regional Head (Region 1), Lagos, representing Keystone Bank Managing Director/CEO Olaniean Olayinka, said the bank will continue to innovate and re-imagine its financial products and services to meet the evolving needs and expectations of customers to help them achieve their goals, which resonates with the bank corporate slogan ‘We grow together’.
According to Iyobosa, the Oga account is a cutting-edge innovation from Keystone Bank that aims to fill a need created by the apprenticeship program in the southeast. It is a component of their culture, according to her.
She continued by saying that the account is used to assist the ‘Oga’ (master) in paying their ‘boi’ (apprentice) after a few years.
“The Oga account is a goal-driven savings account that enables you to conveniently save money toward the settlement due when your apprentice, or “boi,” graduates” she said.
“This account has been set up to speak to your lifestyle requirements and promote fiscal responsibility. At the time of admission, a specified lump sum is targeted, and from there, savings are made gradually until the predetermined goal is met.
“This will assist you as the Oga in making sure that you will not run out of money before your apprentice or boi has finished his years of service and must be paid.”