Five years ago, Celd Innovations conducted patronage research, seeking to know what most people would value as a reward for patronage. This research revealed that most people would prefer cash as a reward. With this in mind, CashToken was born, offering life-changing cash rewards for patronage. 

Over the last 5 years, CashToken Rewards Africa has implemented this model, which has seen millions of Nigerians rewarded with an opportunity to win life-changing cash rewards. In recognition of the giant strides this reward program has registered in Nigeria, the Federal Government of Nigeria in collaboration with CashToken Reward,  has established a program to ensure businesses can properly acknowledge and reward their loyal customers –  the Nigerian National Patronage Cash Reward Program(NNPCRP). To understand this initiative, we need to know the history of CashToken Reward and why the federal government is in partnership with the Federal Government of Nigeria. In this article, you will learn the history and success of CashToken Reward, the projection of NNPCR, what it means for every Nigerian,  and what it means for the Government.

History

For nearly six years, CashToken has stood as a beacon of success in the private sector, revolutionizing the landscape of consumer rewards and loyalty programs. Now, in a historic collaboration, CashToken and the Federal Government of Nigeria join forces to extend this remarkable success to the public sector, heralding the dawn of a new era in socioeconomic advancement.

A Legacy of Success in the Private Sector

Since its inception, CashToken Rewards Africa has epitomized excellence and innovation in the realm of consumer rewards. Through strategic partnerships with leading businesses such as MTN Nigeria, Airtel Nigeria, and Unity Bank, CashToken has pioneered a paradigm of wealth redistribution and financial empowerment. By incentivizing consumer spending and fostering loyalty, CashToken has redefined the relationship between businesses and their clientele, laying the groundwork for sustained growth and prosperity.

A Visionary Partnership for Public Good

In a bold move towards inclusive governance and citizen-centric development, CashToken and the Federal Government of Nigeria have embarked on a visionary partnership to bring the success of CashToken to the public sector. Through the Nigeria National Patronage Cash Reward Program (NNPCR), this historic collaboration aims to stimulate economic growth, foster financial inclusion, and empower citizens across the nation. By leveraging the expertise and experience of CashToken in consumer rewards, the government seeks to revolutionize the landscape of public welfare, ushering in a new era of prosperity and opportunity for all Nigerians.

Why NNPCR

At the heart of the NNPCR lies a commitment to empowering citizens and fostering economic growth. Through strategic partnerships with businesses across diverse sectors, the program incentivizes consumer spending, cultivates loyalty, and redistributes wealth among the populace. By channeling a portion of consumer expenditure back into the hands of citizens, the NNPCR catalyzes socioeconomic advancement, bolsters purchasing power, and fuels economic resilience on a national scale. This means a lot for everyday Nigerians, businesses in Nigeria, and the Nigerian government.

What this means for Nigerians

The significance of the Nigerian National Patronage Cash Reward program for Nigerians cannot be overstated, as it is tailored specifically for Nigerian consumers. Here are some key benefits of the program:

1. Empowered Consumer Spending: The NNPCR empowers Nigerians by incentivizing consumer spending, providing cash rewards, and fostering loyalty, thereby enhancing individuals’ purchasing power and economic resilience.

2. Financial Inclusion and Wealth Redistribution: Through guaranteed cash rewards and the chance to win significant sums, the NNPCR facilitates wealth redistribution among Nigerians, fostering financial inclusion and empowering citizens across diverse socioeconomic backgrounds.

3. Job Creation and Economic Stimulus: The NNPCR has the potential to generate over 500,000 direct jobs, spur entrepreneurship, and drive economic growth through increased consumer spending, thereby contributing to job creation and overall economic stimulus.

4. Government-Citizen Relationship: By implementing the NNPCR, the government strengthens its relationship with citizens, demonstrating a commitment to their welfare and fostering trust through tangible benefits and incentives.

5. Public Emotional Equity and Confidence: The NNPCR enhances public emotional equity by instilling confidence in government initiatives, showcasing its responsiveness to citizen needs, and fostering a sense of pride and belonging among Nigerians.

Your patronage matters and this program ensures your voice is heard and valued. So, get ready to embrace this transformative initiative.

What this means for Businesses in Nigeria

As a business operating in Nigeria,  the Nigerian National Patronage Cash Reward Program presents you with great opportunities that would take your business from where it is to a greater height both in market share, popularity, and revenue generation.

Here is what it means for businesses:

1. Enhanced Customer Loyalty and Engagement: Businesses in Nigeria stand to benefit from the NNPCR through enhanced customer loyalty and engagement. By participating in the program and offering NaijaCashToken rewards, businesses can cultivate lasting relationships with their customers, fostering repeat purchases and brand loyalty.

2. Increased Sales and Market Share: The NNPCR serves as a catalyst for increased sales and expanded market share for businesses. By incentivizing consumer spending through cash rewards, businesses can attract more customers, drive sales volume, and solidify their position in the marketplace.

3. Tax Deduction Benefits: Participating businesses can leverage the NNPCR as an allowable expense for taxation under the Company Income Tax Act (CITA) Part III, Section 24. This allows businesses to deduct the money spent on rewards from their tax liability, contributing to fiscal sustainability and financial optimization.

4. Cost-effective Marketing Strategy: The NNPCR offers businesses a cost-effective marketing strategy to promote their products and services. By allocating a portion of their budget to NaijaCashToken rewards, businesses can maximize their marketing efforts and generate greater returns on investment.

5. Competitive Advantage: Businesses that participate in the NNPCR gain a competitive advantage in the marketplace. By offering NaijaCashToken rewards and engaging with customers through the program, businesses differentiate themselves from competitors, attract more customers, and strengthen their market position.

What this means for The Federal Government

As the visionary founder of this initiative, driven by a deep commitment to the nation and its citizens, the Federal Government aims to achieve the following:

1. Boosting Consumer Spending and Economic Growth: The NNPCR represents a strategic tool for the Federal Government to boost consumer spending within the Nigerian economy, stimulating economic growth and development. By incentivizing consumer purchases through cash rewards, the government can drive demand for goods and services, spur business activity, and enhance overall economic prosperity.

2. Preventing Inflation and Defending the Naira: Through the NNPCR, the Federal Government aims to prevent excessive inflation that could erode purchasing power and undermine economic stability. By promoting controlled consumer spending and ensuring a balance between supply and demand, the government can safeguard the value of the Naira and maintain price stability in the economy.

3. Wealth Redistribution and Financial Inclusion: The NNPCR facilitates wealth redistribution and financial inclusion by providing cash rewards to consumers across diverse socioeconomic backgrounds. By targeting cash rewards toward individuals who meet specific purchase thresholds, the government can empower citizens, reduce income inequality, and promote inclusive economic growth.

4. Job Creation and Entrepreneurship: Participation in the NNPCR has the potential to generate significant job opportunities and foster entrepreneurship in Nigeria. By stimulating consumer spending and business activity, the government can create employment opportunities across various sectors of the economy, thereby reducing unemployment and supporting sustainable economic development.

5. Revenue Generation and Fiscal Sustainability: The NNPCR contributes to revenue generation for the government through increased economic activity and taxation. By leveraging higher consumer spending and business profits, the government can enhance tax revenues, strengthen fiscal sustainability, and fund essential public services and infrastructure projects.

Reward explanation:

With the National Reward, Every Nigerian consumer receives NaijaCashToken simply by shopping locally. Participating businesses also have the flexibility to define their criteria for rewarding customers, tailoring offers to suit their unique preferences and objectives.

Each NaijaCashToken received presents dual opportunities: an immediate credit of N6 to the recipient’s reward wallet and an entry into the weekly national consumer draw, where prizes ranging from N5k to an impressive N100m await lucky winners.

Open to all registered businesses and consumers in Nigeria, this program fosters economic growth and community engagement, empowering merchants and buyers alike to thrive in the local marketplace.

Success Stories

This initiative, initially used in the private sector for nearly six years under the banner of CashToken Rewards, has yielded remarkable success. It has left a significant mark on prominent entities such as MTN.NG, Glo, Airtel.NG, Unity  Bank, among others. Click here to explore noteworthy testimonials and witness their transformative impact on lives.

Conclusion

The unveiling of the Nigerian National Patronage Cash Reward Program marks a significant milestone in the nation’s economic landscape. With a focus on empowering consumers, businesses, and the government alike, this initiative promises to drive economic growth, foster financial inclusion, and strengthen the bond between citizens and their government. By leveraging the success of CashToken Rewards in the private sector and extending it to the public domain, Nigeria stands poised to embark on a journey toward prosperity and shared success. Through strategic partnerships, innovative solutions, and a commitment to citizen welfare, the NNPCR embodies the collective aspirations of a nation striving for socioeconomic advancement and inclusive development.