Cash-lite Lagos: Banks court churches with e-payment options

LAGOS – Banks in the country have commenced an aggressive marketing of their electronic payment services to religious houses, particularly churches, ahead of the March 31 deadline for the take-off of the cash-lite policy of the Central Bank of Nigeria, CBN, in Lagos.

Vanguard gathered that some of the banks have started making presentations to management and leaders of some churches on the use of non-cash instruments by their members to make payment for tithes and offerings.

The banks said the marketing campaign became necessary due to the fact that the policy allows no preferences for religious organisation, adding that any church or religious organisation that fails to adhere to the rules will be sanctioned accordingly.

An official of GTBank’s branch in Shasha-Akowonjo, Lagos, who spoke on condition of anonymity, said any transaction by churches and other religious organisations above N1 million would be sanctioned and that there was no exception to the rule.

She, however, said church members could use Point of Sales POS, machine to pay their tithes, donations or any money.  She said the machines would debit the member and credit the church account.

Also Skye Bank and United Bank of Africa (UBA) noted that the CBN policy had no exclusion. They said churches could only be exempted if they use on-line banking to make transaction. As such, they said church members could make various payments to their banks through the various online banking platforms.

One of the churches, This Present House, confirmed that it had seen some banks coming in to give presentations on e-payment of tithes, among others, a development which had led to churches advising their members to use cheques for all payments more than N5,000 for tithes, building vows, special seed and the rest, while other offerings of lesser value could be given in cash.

This is even as some church members are, however, complaining that regular use of cheques will increase their COT charges from their banks.

“We will prefer manager’s cheque so that it would be easy for us to manage,” a church leader announced after a recent church service in Lagos.

A pastor in the Redeemed Christian Church of God, RCCG (name withheld), told Vanguard that churches, especially large ones, had no choice but to adopt alternative means of collecting offerings.