Parallex Bank has ended the first season of its ‘Save and Win’ savings promo with a grand finale in Lagos, where a total of 925 customers were rewarded with different cash prizes ranging from ₦5,000 to ₦1 million.
The event took place at the bank’s Isolo branch in Lagos and marked the conclusion of a six-month nationwide campaign aimed at encouraging savings culture and rewarding loyal customers. The savings promo, which started in October 2024, featured draws in different cities including Ibadan, Port Harcourt, Uyo, Warri, and Abuja before rounding up in Lagos.
At the final draw, two customers—Chidiebere Azubuike and Ese Fidelis—each won the grand prize of ₦1 million. Apart from them, 153 other customers won various amounts of cash, while hundreds of others had previously received rewards during earlier phases of the campaign.
Speaking at the grand finale on behalf of the Managing Director of Parallex Bank, the Chief Digital Officer and Head of Retail and SMEs, Mr. Frank Alarapon, said the bank launched the promo to appreciate customers for trusting the bank and saving consistently.
“Over 900 customers have been rewarded in the last six months. For the grand finale, we made it even more exciting by having two millionaire winners, unlike previous draws where only one customer claimed the top prize,” Alarapon explained. He added that the promo is part of the bank’s larger goal to promote financial inclusion, deepen customer relationships, and reward loyal clients.
Also speaking at the event, the Head of Products at Parallex Bank, Mr. Azeez Arogundade, said the ‘Save and Win’ promo was designed to connect with customers in a meaningful way and show that Parallex Bank values every depositor.
He said, “This promo is one of the many ways we are reaching out to our customers. Parallex Bank is about limitless banking, and we are offering products that serve the needs of all Nigerians whether you are in personal banking, business, corporate or private banking.”
Arogundade said the bank is focused on helping people grow their money while enjoying better financial services. He encouraged more Nigerians to take advantage of the bank’s digital services and savings options.
To ensure transparency and fairness, the Federal Competition and Consumer Protection Commission (FCCPC) was also represented at the event. The Zonal Coordinator of the Southwest Region of FCCPC, Mrs. Margaret Aboluwade, declared the grand finale open. She commended Parallex Bank for organising a transparent and credible campaign that complied with consumer protection laws.
“We are pleased with the bank’s commitment to fairness and its demonstration of ethical standards in organising this promo,” she said. Aboluwade added that the commission monitored the draws and was satisfied with the process from start to finish.
During the Lagos draw, several customers across Nigeria won cash and airtime prizes. According to the breakdown given by the organisers, 50 winners received ₦5,000 airtime each, 50 others won ₦10,000, while 30 customers went home with ₦20,000 each. In addition, 10 customers received ₦50,000 each, three customers were rewarded with ₦100,000, and the top two winners walked away with ₦1 million each.
The event was filled with excitement, music, and expressions of gratitude from customers who said the bank had exceeded their expectations. Some of the winners shared their experiences, praising Parallex Bank for honouring its promise.
The bank said this is just the beginning and assured customers that more initiatives would follow in the future to empower Nigerians financially. The campaign is part of the bank’s broader strategy to improve financial literacy, increase savings, and expand access to banking services.
Parallex Bank is one of the relatively new banks in Nigeria, having received its commercial banking licence in 2021. Since then, it has continued to expand its presence through digital channels and customer-focused programmes like the ‘Save and Win’ promo.
The management stated that the bank will continue to roll out more customer-friendly products and services that promote savings and financial inclusion for all income levels.
