First Bank, LEGO Partners To Launch Products For Youths

To encourage saving culture among children,    First Bank of Nigeria Limited has partnered with LEGO, the world’s fourth largest manufacturer of children’s toys, to introduce three new products, exciting content partnerships, a dynamic new website and CSR activities for the youth segment of Nigeria market.

At separate events in Lagos and Abuja to mark the Children’s Day on Monday, First Bank unveiled a programme that included three new products designed for children.

The new initiative, according to the bank, is aimed at creating a platform that encourages savings culture amongst children while also engaging, entertaining and rewarding them.

Speaking on the programme, FirstBank’s spokesperson, Folake Ani-Mumuney said the partnership with LEGO signposts the Bank’s quest to create a platform for Nigerian children to express their creative talents, to deploy their innate abilities to something positive while also instilling in them the culture of financial discipline.

“In choosing LEGO as our partner for this project, we considered their brand values of creativity, fun, learning, caring and quality. All these resonate with us because they are values we hold dear. We are passionate about impacting the lives of today’s children in a positive way because we believe the future of this country is in their hands”.

Speaking further, Ani-Mumuney said the initiative is targeted at children between the age of 0 – 24. Acknowledging the huge differences in the needs and interests of those within this broad segment, she said the Bank created sub-segments in order to provide more relevant and useful products and benefits to its young customers.

“These sub-segments are 0-12, comprising pre-school and primary school students; 13-17, comprising Junior Secondary and Secondary School Students and 18-24, comprising young adults. Each sub-segment has its owned tailored product and 360_-engagement programme”, she said, adding that one of the strongest values of this initiative is the fact that all account holders have the benefit of operating their accounts even after crossing the age bar of each segment, she said.

The first of the three products to be launched is KidsFirst, the product for the 0-12 sub-segment which combines the fun and excitement that children are looking for with the dependability and convenience that parents need. The partnership with Lego will give KidsFirst account holders access to exclusive Lego events, content and products. As a children’s brand known for both entertainment and educational value, LEGO was the perfect partner for KidsFirst.

The partnership with Lego is a fully integrated one, which offers the children an exciting range of benefits, from the website, through to gifting, branded collateral and experiential engagements. Lego is an educational as well as a fun brand, which is in line with First Bank’s brand values, and with the additional benefit of being gender neutral.

KidsFirst Account features minimum Account Opening Balance of N2,000 and minimum operating balance of N1000. Premium interest rate of 1% above regular savings interest rate (which is presently 2% PA)

Tayo  Obasanya, the exclusive distributor for Lego said children are able to use Lego to express their creativity.

“Lego is not just a toy, but a tool for helping children with learning”, he added.

In addition to great product features that include low opening and operating balances, an annual scholarship scheme and the convenience of internet banking, through KidsFirst, FirstBank offers parents useful online tools to help them plan for their children’s future and exciting real world experiences to engage and entertain the kids. KidsFirst is a must for any savvy parent looking to build a solid financial future for their child.