As a way of promoting the savings culture among children, Skye Bank Plc says it has instituted the Skye Rainbow Essay competition for children who operate the bank’s Rainbow Account.
A statement by the bank gave the topic of the essay competition as “the Importance of an early savings habit”, and that it was organised to commemorate this year’s Children’s Day.
The statement quoted the bank’s Head of Retail Banking Group, Nkoli Okoli, as saying that the bank chose to stand out from the others this year by putting in place a special programme for the children to celebrate them.
She said five winners would each receive the sum of N200,000, with others getting consolation prizes.
Okoli further explained that the competition would act as a customer reward programme.
It would promote savings culture among children, she added.
She said the competition was open to both new and existing Rainbow Account holders whose ages ranged between seven and 12 years.
In addition, she said the length of each entry must not be more than 200 words. She, however, warned that any entry which showed parental input would be disqualified.
According to the statement, the essay must show the child’s understanding and good presentation of the topic, personal savings experience and creative ideas for savings.