Christ Embassy Church Launches Parallex Bank in Nigeria

Parallex Bank, owned by Chris Oyakhilome’s Christ Embassy Church, is the newest entrance into Nigeria’s commercial banking business.

The bank, which began operations on Friday, January 14, 2022, is expected to change the banking scene in Nigeria and Africa as a whole.

Dr. Pastor Adeola Phillips, CEO of Loveworld Nation, who introduced the bank to the public at its offices on Victoria Island, Lagos, said Parallex Bank is here to make a distinctive statement about what innovation can achieve in an industry that is always reinventing.

She went on to say that the bank will work with a competitive attitude in order to disrupt the market and please clients with enticing offerings. The purpose is to empower the banking public and to facilitate and expedite trade using bank digital platforms.

She went on to say that the Parallex mobile app allows clients to do a lot more. Customers will no longer have to deal with inconvenient and difficult transactions thanks to the app.

The Managing Director of Parallex Bank, Olufemi Bakre, father of Big Brother Naija alumni Tobi Bakre, backed up the Chairman’s assertions, saying the bank’s promise to its clients is to be a facilitator of unlimited banking.

Parallex Bank’s aim, according to Olufemi, is to be the chosen financial solution provider by reinventing client experience via innovation. He promised consumers of outstanding banking goods and services, claiming that the bank’s offers are tailored to Nigerians’ needs.

The bank offers a rich product offering that is client centric, innovative, and easy, as well as a strong ecosystem centered on the customer.

The Parallex mobile app, according to Olufemi, provides unique features and benefits that are uncommon in this industry. Customers may create their own account numbers, boost their transfer limits, and make five free transfers each day to any Nigerian bank using the app. They can request complimentary debit cards, which will be sent to them for no charge.

Customers will pay no maintenance fees, and current account holders can earn up to 5% interest if they have a minimum average balance of N100,000 ($200) in their accounts, according to Femi.


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