Unfavourable economic environment and paucity of funds to bring to reality business ideas, have been identified as some of the problems entrepreneurs are facing in Nigeria today. But with these challenges, Sydney Imuetinyan Aigbogun took the bull by the horns and through his ingenuity, he set up Cashbox, an online saving platform founded in 2019.
“Like most businesses, setting up Cashbox had the initial challenge of lack of funds. That’s one of the things that kill businesses. Banks aren’t helping, government isn’t doing enough, and for someone without a rich family, it’s a lot harder. That’s where ingenuity comes in, the never-say-die attitude. And out of this not too friendly environment came the birth of Cashbox,” said Sydney Aigbogun, who wants Nigerian entrepreneurs never to give up in the face of challenges.
While speaking with journalists during a recent interview, Sydney Aigbogun, who graduated from the University of Lagos with a second class upper degree in Finance, said the first six months of Cashbox was so tough as Nigerians were skeptical of how secured their money would be on an online saving platform.
Cashbox is a secure savings platform that helps users save money seamlessly all from the comfort of their mobile phones, tablets or computers.
“People are often scared of online transaction, but a genuine business will survive the odds. I must confess, Nigerians were initially scared of Cashbox, especially our first six months in operation, but right now that’s no longer a worry for us. Our presence online is very visible and they see so many reviews from users saving with us, seeing these reviews gives new customers confidence in us,” said Aigbogun.
Just like the popular saying that after darkness comes a glowing light, Sydney Imuetinyan Aigbogun revealed that Cashbox, which was formerly Cashboxng, is now a popular saving brand in Nigerian retail banking sector, as the saving platform has also become hugely popular in just two years of its existence with expansion into new areas.
“We are now having clients all over Nigeria. As long as you have a smartphone and internet, you can save with Cashbox from anywhere in Nigeria”, disclosed Sydney Imuetinyan Aigbogun, who was born on October 4, 1986.
“Not only has the public embraced CashBox, but now see us a reliable saving platform growing from strength to strenght,” Sydney Aigbogun added.
However, the young entrepreneur, who was born In Benin City, Edo State, has a piece of advice for young entrepreneurs who want to start their own Fintech business.
Sydney Imuetinyan Aigbogun said, “running a business is very hard especially in this part of the world. I strongly believe that with determination, entrepreneurs can always weather the storms of Nigeria’s tough business terrain. It’s tough, but you have to be tougher.
“Problems will always come, but when you’ve made up your mind never to give up, the problems really wouldn’t scare you,” added Sydney Imuetinyan Aigbogun.