UBA launches Zero COT Current Account

The United Bank for Africa Plc, (UBA), has launched a new account known as “Lion Prime” that gives account holders the opportunity to enjoy free Commission on Turnover(COT) on their transactions.

A statement from the bank indicated that the “Lion Prime” which was designed for the cost sensitive business or individual, is a current account that is not only COT free but also earns interest.

According to the bank, the account was introduced to cater for the demands by customers for an account that will enable them to carry out high volume transactions without incurring costs.

UBA said the account is open to small business owners, self-employed professionals, business executives, entrepreneurs, non-governmental organisations, religious organisations and schools.
The bank added that, “the Lion Prime Account comes in different variants which have been specifically structured to meet the needs of different members of the society in such a way that it matches their expectations”.

Speaking on the product, the Head, Retail Products, UBA Plc, Ms. Olumide Osunyomi, said “a significant advantage of UBA’s Lion Prime zero COT current account is that it enables account holders to earn an interest on the minimum balance on their accounts while enjoying zero COT”.

Osunyomi stated further that customers who operate the Lion Prime current account will also have access to the array of e-banking products available to all UBA account holders.

According to her, “schools, non-governmental organisations, religious organisations, societies and associations will find the Lion Prime current account attractive and well suited to meet their needs due to the nature of their operations”.