LOTUS Bank has introduced subsidised ram sales ahead of the Eid-el-Kabir celebration, providing significant relief to Nigerian families grappling with high food prices. The initiative, part of the bank's 2026 Eid Souq event in Lagos, drew thousands of residents to the J. Randle Centre for Yoruba Culture and History in Onikan.
Massive Discounts on Livestock
During the two-day event held from May 23 to 24, participants were able to purchase rams for as low as N20,000, a price considered exceptionally low given current market conditions where a single goat can cost up to N1.5 million. The flash ram sales were a major highlight, with many residents benefiting from the subsidies.
Beneficiaries Express Gratitude
Beneficiaries such as Muhammad Salaudeen and Daud Abdulhameed praised the initiative for easing the financial burden on families preparing for the festive period. Salaudeen remarked, "Buying a ram for N20,000 in today's economy is something many people would not imagine possible. This initiative by LOTUS Bank is truly commendable." Abdulhameed added, "This goes beyond banking. Many families genuinely needed this kind of support, and LOTUS Bank made it happen."
Beyond Livestock Sales
The Eid Souq also featured a bustling marketplace offering food items, fashion products, fragrances, accessories, and household goods. Children and families enjoyed recreational activities at the Kiddies Arena and Games Centre, making it a community-focused event.
Bank Executives on the Initiative
Isiaka Ajani-Lawal, Managing Director and CEO of LOTUS Bank, stated, "The Eid Souq is more than an event; it is a platform that creates opportunities, supports businesses, and delivers meaningful value to families and communities." Bank Chairman Alhaja Hajara Adeola noted that the turnout reflected strong community engagement and the bank's customer-focused approach. She said, "This initiative reflects the values LOTUS Bank stands for inclusion, ethical enterprise, community support, and shared prosperity."
Banks to Close for Eid Holiday
In related news, all commercial banks in Nigeria are set to close their physical branches on Wednesday, May 27, and Thursday, May 28, 2026, following the federal government's declaration of public holidays for Eid-ul-Adha. The Minister of Interior, Dr. Olubunmi Tunji-Ojo, announced the holidays on behalf of the government. Eid-ul-Adha, the Festival of Sacrifice, is observed by Muslims worldwide through prayers and almsgiving.
