Access Bank Plc. say has unveiled a reward scheme for its customers to promote diaspora remittances into the country.

The bank’s Executive Director, Retail Banking, Mr Victor Etuokwu, disclosed this in a statement in Lagos on Thursday.

Etuokwu said that the bank would be rewarding customers with five naira on every dollar received from their loved ones or associates abroad through foreign remittances.

He said that the five naira for every dollar cashback would be paid to Access Bank customers irrespective of their preference to receive funds as U.S. dollars cash pick-up over the counter or direct transfer into their domiciliary accounts.

According to him, the reward scheme is in line with the Central Bank of Nigeria’s “Naira 4 Dollar” scheme aimed at encouraging inflow of diaspora remittances.

Etuokwu said that the scheme would run from March 8 to May 8.

“Remittance services are a key aspect of our economy, and it is still vibrant and viable today because people still take care of family members, loved ones and friends and invest at home even as they live abroad.

“As part of our promises to create value and meet the needs of our customers, we are happy to announce that our customers can now receive five naira for every one dollar.

“This can be done at any of our branches nationwide, when their loved ones or associates send funds from the diaspora,” he said.

According to Etuokwu,  the bank’s promise to deliver “More than Banking” services is more relevant at this time as customers are looking for convenient products and services to facilitate their lifestyle needs.

He said that the bank would maintain a strong relationship with its remittance partners ranging from Western Union, MoneyGram, Ria, WorldRemit and Transfast, among others, to deliver excellent services.

“Our remittance services are available to both customers and non-customers of Access bank,” he said.