CashBox Celebrates Five Years Anniversary, Harps on Expansion Plan

Emma Okonji

CashBox, a digital savings platform that encourages thousands of Nigerians on proper saving habit, has clocked five years saving billions of naira for over 500,000 customers on its digital platform.

Celebrating the milestone in Lagos recently, the Chief Executive Officer of CashBox, Mr. Sydney Aigbogun, elaborated on the firm’s expansion plan to more states outside of Lagos.   

According to him, in 2024, CashBox plans to reach more users in other states of Nigeria. “We are already quite popular in Lagos State so we feel it is time we spread the word of CashBox to many more states. This we plan doing by using smart strategies and the right people on our team,” Aigbogun said.

Speaking about his ambition for the next five years, he said the last five years had been amazing, having done a lot more than expected.

“We have helped over 500,000 users save over N50 billion they would ordinarily spent on frivolous things. In the month of December 2023, we paid out over N4 billion in withdrawals to our customers in that single month. So the next five years is very promising, we are a company that keeps researching and making quick changes with time. We never want to be an obsolete organization,, so we will keep doing what we are doing and employ smarter ways to do it. Five years from now, we should have at least five million customers using CashBox, that is the goal and we believe it is very achievable considering where we are coming from.

Giving the data about those saving with CashBox, Aigbogun said: “Few years ago, about 65 per cent of our users were female between the ages of 22-45, but right now, our male customers have increased. As of today, our customer base is quite more diverse having close to 50 per cent usage by both male and female, ages between 17-57. Majority of our customers reside in Lagos and quite a number are in the South West and Northern states as well.”