Just my opinion. Seeing the lack of transparency and accountability displayed by our governments in the time past on Money Matters, I think it would have been better for Banks to credit N4000 each to 250,000 customers than donation of N1Billion to the Federal Government. We all know the donation will be explained away very soon.

If Banks such as UBA and GTBank had credited customers account with a token of N4000 each during this lock down, the following would have happened
1, Their donations would have been more impactful to the citizens and states where there is lockdown

2, There would be better publicity for the bank, this is a good marketing strategy

3, Banks would have earn loyalty from some customers

4, Some people may quickly want to open account with the bank through their online platforms so they can qualify for the credits.

Banks can choose whose account to be credited by creating criteria such as
- Location/residence of Customers
- Transaction Activities of Customers
- Account Balance of Customers

This will go a long way to cushion the effects of the lockdown on the citizens.

Imagine UBA and GTBank reaching out to 500000 customers with N4000 each.

All over the world, governments are giving out at this point, but here in our dear country, government are collecting and not willing to give back.

These Banks are not serious. I will gladly close my account and open a new account with any Bank that can help their customers. Pay your customer a little token even if is 5k

In the case of Nigeria, government is collecting from the citizens and not giving out. The few in power want us to sponsor their medical bill.

I agree with you. Please rephrase the subject to

N4,000 Credited to 250,000 Bank Customers is better than N1b to FG.

SocialJustice:
I agree with you. Please rephrase the subject to

N4,000 Credited to 250,000 Bank Customers is better than N1b to FG.

Done. Thanks

Contact me for face mask and hand sanitisers anywhere in Lagos. Delivery also available for oyo,Kwara,kogi,Abuja and portharcourt. # face mask 10000 for a pack of 50pcs, 100ml comart hand sanitiser for 600 each. Limited quantities available.

u can imagine ,wasting money on FG, and leaving its customers

Nigeria banks don't have business sense. It is natural for u favour those who show some love.

Nigeria banks don't have business sense. It is natural for u to favour those who show some love.

True talk ...i totally agree with the op....please mods do the needful and move this to frontpage

They are all capitalists.

They would rather befriend the govt than their customers.

Most of the money will end up with people who don't need it.
A private person cannot determine the poor who deserves donation but the government
can organize such.

Many people who deserve the donation most don't even have bank accounts.

ivolt:

Most of the money will end up with people who don't need it.
A private person cannot determine the poor who deserves donation but the government
can organize such.

Many people who deserve the donation most don't even have bank accounts.

We are talking about their customers. At least they know all their customers account balance.

Niorte:

We are talking about their customers. At least they know all their customers account balance.

It makes no difference as the initial problem still exists.

Many people operate multiple accounts with different banks.
Someone's GTB account may have 100 Naira balance while their First Bank account
is filled with millions.

A better approach should have been material donation rather than cash.