E-Ajor; Nigeria's first fintech thrift platform in Lagos.

Obianuju Lilian Ikegbune, Lagos.

At the E-Ajor Launch

The Digital contributory app; E-Ajor is created to enable users meet their financial goals, through public and microcells of daily, weekly and monthly contribution. The Online platform which launched at an event held at Oriental hotel Lagos, on the 17th of September 2020, saw a gathering of young entrepreneurs in Lagos at the launch of the event.

E-Ajor app

The early form of contributory savings called Ajò or Èsùsù as it is popularly called by the indigenous people of Nigeria, involves people of the same trade coming together to set aside an agreed amount together, then take rotationary turns to benefit from the savings at an agreed time, the primary objective was to help them provide financial stability and meet their pressing needs.

At the event, the team lead Mr Daniel Ikabode noted that the Digital contributory scheme which helps in the collection and disbursement of funds, encourages financial discipline and helps members of the cell grow their money, he also stated that the Digital thrift platform is encrypted, hence the details of users are saved, in his statement at the launch, Mr.Ikabode said "The E-Ajor platform is like a cooperative backed by the central bank of Nigeria which means that as a user, your Bank Verification Number is tied to it, hence the platform is safe"

Daniel Ikabode

With the current economic condition, where the average Nigerian is finding it difficult to decide whether to save or spend all, E-Ajor is encouraging Nigerians to embrace digital and financial literacy through the E-Ajor culture.

In a question from one of the attendees, who asked if the platform cuts across every demography as the main Ajò group could be found in the low income earners and petty traders of the economy, such as the local market women who do not have digital skills; In response the E-Ajor company Brand manager Mr.Teinye Boyle said "There are various strata and cells, we have our tech savvy representatives who are going into the markets to school these women, if they can run a functional bank account, then Fintech is the next way to go"

Obianuju in an interview with Ayo Akinola; Head Business Development at Piggyvest 

For more information on E-Ajor, visit www.eajor.com

Picture Source : @Eajor on Instagram