Ecobank Nigeria Limited has concluded plans to host a digital conference as part of its commemoration of this year’s Workers’ Day. According to Head, Consumer Banking, Korede Demola-Adeniyi, the webinar which is scheduled for April 29th, titled: “Inflation and Your Money – Our role As Your Bank,” is targeted at educating members of the public on how to manage limited resources at their disposal, stressing that it would also provide tips on savings, borrowing, investments and how Ecobank can be useful to the participants and general public amidst the rising inflation.
According to Demola-Adeniyi, though Nigeria recorded early exit from the recession in the fourth quarter of last year, the effects of the COVID-19 pandemic have continued to impact negatively on the revenues of many corporate entities, businesses and income of individuals; noting that this development has been further compounded by inflation.
“Inflation rate has continued its upward trend to settle at about 18.7 per cent in March with prices of goods rising significantly in the last six months. This, in turn has significantly reduced the disposable income and cash available to consumers,” she added.
Consequently, as a bank set up to contribute to economic development, we thought it important to facilitate a discussion during this period of Worker’s Day, that will provide some guidance to our customers and the general public on how they can manage their cash and resources through rising inflation.”
She disclosed that the webinar which will be hosted on the Microsoft Teams’ platform will converge important stakeholders who will discuss the realities of the economy of the country and also proffer solutions on how to stay afloat financially and better manage resources.