How Cashboxng dealt with COVID-19 business disruption -SYDNEY AIGBOGUN, CEO

By Mutiat Alli

FinTech entrepreneur, Sydney Aigbogun of Cashboxng has opened up on how his company coped during the COVID-19 total lockdown which lasted from 26 March to 4 May 2020.

Recounting how they surmounted the hurdle, the graduate of University of Lagos said:” COVID was a shocker to the world especially businesses, no one ever imagined the world would shut down.

The moment everything shutdown and we had to work from home, myself and the team had a meeting and we knew we just had to make the best of what we had. We had to come up with a narrative that would make sense to people and encourage them to save while the world was “locked down”.

People weren’t going to work, no eat out, no cinemas, no social event, so it also meant people weren’t spending money.

So we started campaigns on social media encouraging people to start saving the money they would have ordinarily spent when the world was normal and that really drove our savings pool higher”.

Asked what led to the creation of CashboxNG, he noted that the need to help individuals have a healthy savings culture led to the birth of the business.
“CashBox was founded in January 2019.

We are an online savings platform or you can call us an online “piggybank”. We are helping thousands of users cultivate a healthy savings habit.

Users can easily download our app on android and iOS, link their ATM card to the app and create a savings plan stating how much they would like to save and the frequency swell. Everything is controlled by the user from the app”.

Aigbogun also stated that his background in finance helped him in the creation of CashBox.

“I have a background in finance and have always been looking for ways to make financial process smoother for everybody, both young and old.

CashBox is just that. CashBox is easily used by young people swell as the old. It’s a way of helping everyone make smart financial decisions.

We didn’t want the saving process to be done like the traditional way most people are used to. With the help of technology which we heavily rely on, it has helped us achieve a lot and even do a lot more in the future”.

The Cashbox boss said every aspiring entrepreneur should not wait for the perfect condition before they step out with their business ideas.

“I advise aspiring entrepreneurs to just get up and start that business. That idea you are nurturing, don’t waste too much time nurturing it, take it to the market and let the market guide you.

Too many entrepreneurs waste time as the idea generation stage and almost never get their product into the market for fear of the unknown”.