Sterling Upgrades Doubble With Money Market Investment Offering

Image

Sterling Bank Limited’s cutting-edge investment platform, Doubble, has been upgraded with new features aimed at improving investment returns for existing and new customers.

With various flexible naira and dollar investment options, including money market offerings with returns higher than your bank’s returns on savings. The digital savings and investment platform provides a seamless avenue for individuals to build wealth. Users are provided with a guaranteed income stream and fixed growth over a set period, as well as a hedge against market volatility, the ability to secure loans against account balances, and the convenience of transferring the annuity to a spouse or other beneficiaries.

The Chief Product Officer, Mustapha Otaru explained that the new offering caters to individuals seeking a reliable means to invest their money, with a clear focus on achieving regular investment returns or specific financial goals, whether for future business endeavours or lifestyle aspirations.

Money market instruments are low- to medium-risk investments with higher returns than regular savings that help investors preserve their capital and provide them with stable income. The Doubble application hosts five unique Money Market offerings with varying levels of flexibility, which include: Doubble Easy, Doubble Xtra, Doubble Auction, Doubble Special Offerings, and Doubble Special Auction. Customers can determine their desired capital and investment duration and even bid on rates due to the flexibility of each of these offerings.

Doubble’s Money Market offering empowers investors to plan strategically for future financial commitments, such as funding their children’s education, acquiring homes, saving towards rent, or sourcing capital for new business ventures. It alleviates the hassle of investing through middlemen and their accompanying extra fees. It also lowers the entry barrier for investors, with plans available for as little as N20,000.

The Doubble Target and Fixed Deposit savings plans, readily available and existing on the investment app, allow customers to automate their savings in Naira or Dollar currencies over time or save a lump sum to earn higher returns. The Doubble Reward savings plan also allows investors save a set amount for a set period to earn invested capital and up to 60% returns monthly pay-outs to themselves or a designated beneficiary.

To learn more about Doubble, visit www.doubble.ng

Share
Related Stories
Image
16-February-2024

Ecobank Seeks Entries for International Art Exhibition +234Art

By Modupe Gbadeyanka Emerging young Nigerian artists have been invited to participate in an international art exhibition organised by Ecobank Nigeria in partnership with Soto Gallery. The 10-day event tagged +234Art, is scheduled to commence on Friday, March 22, 2024, and is dedicated to nurturing and uplifting the burgeoning art industry in Nigeria by providing a platform to support emerging artists and encourage increased interest in art acquisition, thereby contributing to the growth and prosperity of the local art sector and its international recognition. The art fair will among other things seek to create a sustainable platform for young and

Image
31-January-2024

CBN Moves to Stop Banks from Hoarding Forex

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has released a new directive warning banks from hoarding excess foreign currency for profit. The new circular introduces a set of guidelines aimed at reducing the risks associated with these practices as the central bank believes some commercial banks hold long-term FX positions so they can profit from the volatile movements. In a circular titled Harmonisation of Reporting Requirements on Foreign Currency Exposures of Banks, the CBN raised concerns over the growing trend of banks holding large foreign currency positions. “The Central Bank of Nigeria (CBN) has noted with concern the

Image
10-February-2024

NIBSS Suffers Downtime, Affects Interbank Transfers

By Aduragbemi Omiyale There are strong indications that the instant payment transfer channel of the Nigeria Inter-Bank Settlement System (NIBSS) Plc is currently down. This has reportedly led to the difficulty experienced by banking customers in sending funds to other bank users. It was gathered that the issue started on Saturday, and as of the time of filing this report, it was yet to be resolved. The NIBSS has yet to issue a statement to allay customersfears over their inability to send money to people using banks different from theirs. The situation has created panic among bank users, who are

More Stories
Image
21-November-2016

Nigeria’s Non-Oil Economy Records Slight Growth

**As FG Policies Sustain Rising GDP Figures In Agric, Solid Minerals Sectors By Modupe Gbadeyanka Third Quarter GDP figures released by the National Bureau of Statistics (NBS) has revealed a consistent growth in Agric and Solid Mineral sectors, indicating the success of the Buhari administration’s economic policies even though overall economy is still in recession. The over-riding impact of the oil and gas sector, where vandalism and sabotage of critical installations negatively affected production output, explains the persistence of the recession, as the non-oil economy posted a very slight growth. However, efforts to resolve the Niger Delta situation are continuing

Image
16-January-2017

Tobacco Regulation, NGOs and Human Rights Issues

By Nojeem Adetuberu There is an urgent need to examine the activities of certain Non-Governmental Organisations (NGOs), considering the abundant declarations they make and the demands placed on corporate organisations and the government recently. These NGOs claim to thrive on protecting human rights but in actual sense the rights of every individual is not represented in their drive for relevance. Notably, their drive for safer environments in Nigeria is lopsided. Rather than striving to ensure the rights of all individuals, civil society organizations, often, promote their own interest, misinform the Nigerian populace and gratuitously lobby for the enactment of unenforceable

Image
28-August-2016

I’m Done With Nigeria—Siasia

By Dipo Olowookere Coach of Nigeria’s football team to the just-concluded Rio 2016 Olympics, Samson Siasia, has declared he will no longer coach the team. Mr Siasia lamented that he was treated badly by the Nigeria Football Federation (NFF) while he was away on a national duty in Brazil. The Olympic Bronze medal-winning coach told Vanguard that the Federation went to his house to retrieve the official car given to him from his wife. “My next step is that I am done with Nigeria for now. “You can’t keep going to a place where they don’t appreciate you. It does

Image
30-September-2017

Siemens to Fast Track Madagascar’s Power Generation

By Dipo Olowookere In order to accelerate power generation in Madagascar, Siemens has signed a Memorandum of Understanding (MoU) with the government. The deal is to cooperate and identify measures to fast track power generation in the country and work towards increasing capacity by an additional 300MW by 2019. The agreement was signed together with project partners TSK and in the presence of Günter Nooke, the German Chancellor’s Personal Representative for Africa and the German ambassador to Madagascar, Harald Gehrig, in the Ministry of Water, Energy and Hydrocarbons. Other key aspects of the agreement include an assessment of the electrical

Image
30-December-2022

CCECC-CRCCIG Consortium Wins Fourth Mainland Bridge Contract

By Aduragbemi Omiyale The contract for the construction of the much-talked-about Fourth Mainland Bridge in Lagos has been awarded to Messrs CCECC-CRCCIG Consortium. The Lagos State government announced the team as the preferred bidder for the project, which is to be executed through a public-private partnership (PPP). In a statement on Thursday, the Special Adviser to Governor Babajide Sanwo-Olu on Public Private Partnerships, Mr Ope George, explained at a briefing in Ikeja that the project would comprise the construction and operation of a greenfield tolled road and bridge with a design speed of 120km/h, including the development of adjacent real

Image
28-September-2018

EGMONT Group Lifts Embargo on Nigeria

By Dipo Olowookere The suspension earlier placed on the Nigeria Financial Intelligent Unit (FIU) by the Egmont Group of Financial Intelligent Units has now been removed. This followed the removal of the NFIU from the Economic and Financial Crimes Commission (EFCC) and domiciled in the Central Bank of Nigeria (CBN), with the agency re-christened as the Nigerian Financial Intelligence Unit (NFIU). This was lawfully done with the amendment of section 1(2) (C) of the EFCC Establishment Act, which removed the FIU from the EFCC. On July 5, 2017, Nigeria was suspended from the Egmont Group of Financial Intelligence Units because

Image
20-August-2021

UBN Property, Friesland Depress NASD by 0.11%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) returned in the negative territory on Thursday after two securities dragged the market down by 0.11 per cent. At the close of the market yesterday, the NASD Unlisted Security Index (NSI) decreased by 0.83 points to 736.89 points from 737.72 points recorded at the previous session, while the market capitalisation reduced by N540 million to N640.48 billion from N641.02 billion it ended on Wednesday. This poor outcome was caused by FrieslandCampina WAMCO Plc and UBN Property Plc. Friesland depreciated during the session by 50 kobo or 0.4 per cent to N120 per share

Image
03-January-2020

Naira Declines at I&E Amid Drop in Demand for FX

By Adedapo Adesanya The value of the Naira to the United States Dollar at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market went down on Thursday, January 2, 2020. It was the first trading day of the new year and the local currency closed bearish after depreciating by 0.08 percent or 28 kobo during the session to close at N364.79/$1 compared with N364.51/$1 it traded at the previous session. The depreciation recorded at the investors window yesterday came despite a decline in the value of transactions printed. Data from the FMDQ indicated that the turnover reduced

Ad
Ad
Recent Stories
Image
22-February-2024

Lagos Plans Daily Free Meal for Residents, Markets for Cheap Food Items

By Modupe Gbadeyanka About 1,500 residents of Lagos State will have access to one free meal per day to cushion the effect of the economic hardship in the country, Governor Babajide Sanwo-Olu has declared. Mr Sanwo-Olu, while answering questions from journalists during a media chat on Thursday, said his administration would establish at least 42 Sunday Markets across the metropolis for cheap food items, though the commencement of this initiative is yet to be revealed. There has been a pocket of demonstrations across the country over the rising hunger in Nigeria as a result of high inflation and the devaluation

Image
22-February-2024

WINBAFRICA Plans Big for 10th Anniversary

By Modupe Gbadeyanka All is now set for the 10th anniversary of WINBAFRICA themed Bridging the Gap: Celebrating a Decade of Nation-building. The organisation is gathering stakeholders together on Monday, February 26, 2024, for the event at the Alliance Francaise in Ikoyi, Lagos. The group was formed in 2014 and has since then promoted girl-child education and empowered women and young girls in critical thinking and leadership skills in secondary schools across Africa. As part of activities lined up for this year’s celebration, WINBAFRICA organised an annual school debate competition and scholarship programme for 20 young girls across the continent.

Image
22-February-2024

Nigeria Posts 2.74% GDP Growth in 2023

By Adedapo Adesanya Nigeria’s economy grew by 2.74 per cent in 2023, lower than the 3.1 per cent posted in 2022. This was disclosed by the National Bureau of Statistics (NBS) in its latest Nigeria Gross Domestic Product Q4 2023 Report released on Thursday. While the country’s economic growth was lower than the preceding year, it grew by 3.46 per cent (year-on-year) in real terms in the fourth quarter of 2023. This growth rate is lower than the 3.52 per cent recorded in the fourth quarter of 2022 and higher than the third quarter of 2023 growth of 2.54 per

Image
22-February-2024

Nashaira Belisa Takes Project OMI to Lagos Orphanage, School

By Adedapo Adesanya  Miss World Curacao 2024, and Curaçao’s delegate to Miss World 2024 in India, Miss Nashaira Belisa, an influential humanitarian and businesswoman, has launched PROJECT OMI. OMI, meaning water in the Yoruba Language, is a transformative initiative focused on addressing the critical need for clean water in orphanages and communities across Nigeria and Ghana. She is using this initiative to change the world, one drop of water at a time. The project, aptly named OMI, is a testament to Belisa’s commitment to making a lasting impact beyond the realm of beauty pageantry. Belisa’s dedication to clean water accessibility

Image
22-February-2024

Senate Confirms Cardoso, Yuguda, 10 Others as CBN MPC Members

By Adedapo Adesanya The Senate has confirmed the appointment of 12 persons as members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) ahead of next week’s eagerly awaited interest rate-setting meeting. This confirmation comes after a report of the Committee on Banking, Insurance and other Financial Institutions was considered during plenary on Thursday. The confirmation of the new MPC members comes days before the first policy meeting of the apex bank under the new CBN governor, Mr Olayemi Cardoso, who by his position will be the chairman of the committee. The meeting has been slated

Image
22-February-2024

Purple Real Estate Welcomes Umar, Oladimeji to Board

By Adedapo Adesanya Nigerian real estate platform, Purple Real Estate Income Plc, has made significant changes to its board, marking a pivotal moment in the company’s growth strategy amid current macro headwinds. The reshuffle brings on Mr Aminu Umar and Mr Olasunkanmi Oladimeji to join the board as Non-Executive Director and Executive Director. The duo of Mr Umar and Mr Oladimeji will take over from Mrs Osareme Archibong and Mrs Fiona Ahimie, both outgoing Independent Non-Executive Directors, according to notice on NASD OTC Securities Exchange, where the company trades its securities. Commenting on the changes, the Chairman of the board,

Image
22-February-2024

AFCON 2023: Nigerian Content Creators See 200% Rise in Revenue, Views

By Adedapo Adesanya Content creators in Nigeria saw a 200 per cent increase in views and revenue between December 2023 and February 2024, a new study shared with Business Post showed. According to new data released by StarNews Mobile, an African video streaming platform, content creators across Africa experienced a 300 per cent surge in revenues during the 2023 Africa Cup of Nations (AFCON) held between January 13 and February 11, 2024, reaffirming the massive surge in consumption of hyper-localized content from the continent. Based on metrics from StarNews Mobile’s platform, creators in Nigeria were only outshone by their peers

Image
22-February-2024

Two Die, 15 Rescued in Ikoyi-Lekki Link Bridge Boat Mishap

By Modupe Gbadeyanka Two persons have been confirmed dead in a boat accident that occurred on Wednesday night at the Ikoyi-Lekki Link bridge in Lagos. The Lagos State Emergency Management Agency (LASEMA), which confirmed the incident, stated that 15 persons were rescued in the mishap. The agency stated that the boat, which was conveying 17 passengers, was heading to the Ikorodu area of the metropolis from its take-off point, Sandfil, when it capsized at the Powerline area of the popular bridge. It said the body of a female passenger, who drowned, was recovered, while the corpse of the male passenger

Image
22-February-2024

NPPAN Targets $10bn Contribution to Nigeria’s GDP via Palm Biomass

By Adedapo Adesanya The federal government will sign a Memorandum of Understanding (MoU) with the Malaysian government to develop palm biomass in the country as part of efforts to utilise one of the undertapped farm produces in the country. Mr Alphosus Inyang, President of the National Palm Produce Association of Nigeria (NPPAN), made this disclosure, saying palm biomass is a multi-billion dollar economy. “Biomass simply means agricultural waste and we are talking about turning waste into wealth,’’ he said in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja. The president said NPPAN was working with

Image
22-February-2024

Salesforce Introduces Clean Energy Programme Management

By Modupe Gbadeyanka A new solution to help electric, gas, and water utilities increase customer participation in clean energy programmes has been introduced by Salesforce. The initiative known as Clean Energy Programme Management for Energy & Utilities Cloud streamlines the launch, management, and oversight of energy efficiency, conservation, electrification, and EV charging programs. It helps utilities manage clean energy initiatives with connected data — like energy usage and billing information — and personalised engagement to promote relevant programmes. This platform also digitises and simplifies the application process for customers, participating contractors, and utility program staff to help increase clean energy