Imagine a world where saving money does more than just secure your future; it rewards you with exciting cash prizes. That’s exactly what Stanbic IBTC Bank offers with the fourth season of the Reward4Saving Promo.

This edition is bigger, better, and packed with more opportunities, designed to make the habit of saving both rewarding and exciting.

At its core, the Reward4Saving Promo 4.0 is more than just a promotion; it’s a movement that empowers Nigerians to take control of their financial future by cultivating a strong saving habit. By saving a minimum of ₦10,000 in a Stanbic IBTC Savings Account or @ease Wallet for at least 30 days, you automatically qualify for a chance to win fantastic cash prizes in the monthly, quarterly, and grand finale draws.

What’s in it for you? Every month, 70 lucky winners will each receive ₦100,000. Every three months, one customer from Stanbic IBTC Bank’s seven business regions will win ₦1 million each, while a grand quarterly winner will walk away with ₦2 million. Finally, in the grand finale, two lucky customers will each take home a staggering ₦5 million!

Over the past three seasons, Stanbic IBTC Bank has rewarded more than 1,900 winners, distributing a total of ₦318 million in cash prizes. We are taking it even further this season, setting aside an impressive ₦130 million for 874 lucky winners.

Saving money can sometimes feel like a chore – something we do out of necessity. But what if it could be fun, rewarding, and even thrilling instead? That’s exactly what Reward4Saving Promo 4.0 is all about. By transforming savings into exciting opportunities, Stanbic IBTC Bank is not just promoting financial empowerment but also ensuring that the journey to financial security is enjoyable for everyone.

Starting is simple – open a Stanbic IBTC Bank Savings Account or @ease Wallet, save a minimum of ₦10,000, and maintain that balance for at least 30 days. That’s all it takes to automatically qualify for the draws. Existing account holders are also included, qualifying if they fund their savings account with a minimum of N10,000 and maintain the balance for 30 days in their Stanbic IBTC Savings Account or @ease Wallets. The more consistently one saves, the better their chances of winning, and they could be the next winner announced in the monthly, quarterly, or grand finale draws.

So, what are you waiting for? The Reward4Saving Promo 4.0 invites you to take control of your finances, plan for the future, and reward yourself along the way. Open your account, start saving, and prepare to win big!

Stay connected with Stanbic IBTC Bank on social media for updates, testimonials from previous winners, and exclusive content that will inspire you to save.

Join the social media conversation with the hashtag #Reward4Saving or visit www.stanbicibtcbank.com to learn more and start today!

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Nigeria has declared its intention to host the 2030 Commonwealth Games, with the Nigerian Olympic Committee (NOC) confirming that it

read more Nigeria bids to host 2030 Commonwealth Games

As of March 24, 2025, the Nigerian forex market is experiencing major developments that are shaping trading strategies and economic outlooks. Nigerian traders should stay informed about these important events to navigate the fluctuating environment effectively.​

Naira’s Fluctuations and Central Bank Interventions

In the latest forex news, the Nigerian naira has faced notable volatility in recent weeks. At the official window, the naira depreciated by 1.25% week-on-week, settling at 1,536.89/$ as of Friday. 

In response, the Central Bank of Nigeria (CBN) has implemented strategic interventions to stabilize the currency. These measures include injecting $360 million into the forex market through authorized dealers, aiming to mitigate depreciation risks and maintain exchange rate stability. 

Also, the CBN has introduced an electronic FX matching system to enhance transparency and efficiency in forex transactions. ​

 Dangote Refinery’s Currency Policy Shift

A major development impacting the forex news is the Dangote Petroleum Refinery’s decision to temporarily suspend fuel sales in the local naira currency. This move addresses the mismatch between sales in naira and crude oil purchases in dollars. 

The 650,000-barrel-per-day refinery’s shift to dollar transactions may lead to increased petrol prices and heightened demand for foreign exchange among local fuel traders. 

This policy change underscores the challenges businesses face amid currency fluctuations and foreign exchange constraints. ​

MTN Group’s Financial Performance Amid Naira Devaluation

The telecom sector has also felt the impact of currency volatility. MTN Group, Africa’s largest telecom operator, reported a 69% decline in full-year earnings, primarily due to the devaluation of the naira and operational challenges in Sudan. 

The company’s headline earnings per share fell to 98 cents from 315 cents in the previous year, highlighting the broader economic implications of currency instability on corporate performance. ​

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 Pan-African Currency Market Initiative

On a continental scale, the Pan-African Payments and Settlement System (PAPSS) is set to launch an African currency market platform later this year. 

Supported by 15 central banks, this initiative aims to facilitate direct exchanges of local currencies for cross-border trade, reducing reliance on intermediary currencies like the US dollar. 

For Nigerian traders, this development could open new avenues for regional commerce and potentially ease some foreign exchange pressures. ​

Strategies for Navigating Forex Market Volatility

Given the current market dynamics, forex traders are advised to adopt strong risk management strategies. The Association of Bureaux De Change Operators of Nigeria (ABCON) suggests measures such as unifying exchange rates, increasing transparency, and increasing liquidity in the forex market. 

Traders should stay informed about regulatory changes and leverage technological advancements to navigate the complexities of the forex landscape effectively. ​

Final Thoughts

The Nigerian forex market is undergoing major transformations influenced by currency fluctuations, policy shifts, and regional initiatives. 

For traders, staying abreast of these developments is crucial for making informed decisions and mitigating risks. Engaging with reliable news sources, understanding central bank policies, and adopting adaptive trading strategies will be essential to profiting in the evolving forex environment in Nigeria.

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