₦1.18 Trillion Was Recorded By Firstbank Cardholders In Transactions Value During Lockdown

  

The Chief Executive Officer of FirstBank, Adesola Adeduntan, also disclosed that the bank’s 53, 000 agents across the country processed about N512 billion worth of transactions with differing values while the lockdown lasted. He noted that the bank was “able to actively support her customers, their families and businesses through these challenging times.”

Adeduntan further noted that approximately 12.6 million withdrawals to the tune of N156 billion were carried out across FirstBank’s ATMs nationwide.“Our customers made transfers over 106 million times with a total value of about N8.18 Trillion across our digital channels. We have also recorded over 275,000 new sign-ups to alternative channels covering our Firstmobile, USSD and First-Online platforms,” he said. While calling on lovers of stress-free banking to get on board, the FirstBank CEO assured existing customers of the bank’s relentless efforts to ensure that banking transactions continue seamlessly, adding that COVID-19 will not slow down her activities and efforts at staying true to her brand promise to her customers.FirstBank cards come in a wide range of categories, each fulfilling tasks which are flexible, offer comfort and stress-free banking.

The range of cards available to customers of FirstBank are categorised into three broad groups — Debit, Credit and Prepaid cards. The grouping covers outstanding cards offerings such as Naira MasterCard, Verve Card and the pioneering Visa Multi-Currency Card.Others are Expressions MasterCard, Platinum MasterCard, Visa Infinite Credit Card, Visa Gold Credit Card, Naira Credit Cards (Visa Classic and Platinum), Visa Prepaid Card and Verve Prepaid Card.

FirstBank’s Naira MasterCard and Verve Card are secured by Chip and PIN technology with local POS/Web limit increase available upon request. The Naira denominated MasterCard comes with various benefits such as online purchases, bills payments and cash withdrawals at ATMs world-wide. The various transaction limit(s) on Naira MasterCard issued by the bank are N150,000 for ATM transactions, N2,500,000 for POS and N1,000,000 for web transactions.The FirstBank Verve Debit Card works with Chip and PIN technology to secure transactions. It allows the cardholder to conveniently pay for goods and services and is accepted by all ATMs, POS, Web, Mobile, Kiosk, and bank branch connected to the Interswitch network in Nigeria.

It is available to all account holders and enables daily transaction limits of N150,000, and N500,000 on ATM and POS channels respectively. Customers can transact up to N1 million on the web in a single transaction.

FirstBank cards also offer the Card Protection Transactions feature, which allows the cardholder to activate or deactivate it for all types of transactions, channels and locations, through the Card-in-Control Service on the Firstmobile app. Another card innovation service by FirstBank is the Visa Gold Card, which offers higher daily spending capacity and limit on ATM, POS and Web. With the Visa Gold Card, the customer is assured of $1,000 daily ATM withdrawal, $10,000 POS transaction and $5,000 on the web at any location around the world. It is a dollar denominated international Premium Credit Card issued in partnership with Visa International.

Moreso, it guarantees access to international emergency services such as Emergency Card Replacement and Emergency Cash Advance in situations where the card gets lost or damaged. The Visa Gold card comes handy when making airline bookings with its smooth seamless purchase options.Also, among FirstBank’s super cards is the VISA Debit Multi-Currency Card. First of its kind to be offered by any financial institution in Nigeria, the card is an enhancement to the existing Visa Debit Dual Currency card and can be linked to any or all NAIRA, USD, EURO and GBP accounts. It is an international card with Chip and PIN technology which can be used to make payment anywhere in the world and across all channels – ATMs, POS & Web.

With the Visa Debit Multi-Currency card, cardholders can make daily withdrawals to the tune of N150,000 (local) and $1,000 (international) from the ATM. However, on the web, a total of N1,000,000 is permitted locally while $6,250 is allowed on the international corridor daily. POS transaction limit is N2,500,000 (local) and $2,500 (international). The Platinum Debit MasterCard is a premium Debit Card denominated in Naira. It is linked directly to a customer’s Naira denominated current and/or savings account. It offers a convenient alternative to the use of cash, and cheques by giving direct access to funds in cardholders’ accounts across all channels like ATM, POS, web etc.

Like other card types, its transactions are easily monitored via the FirstBank FirstMobile App or FirstBank Internet Banking service and offers 24-hour access support for all card-related complaints through First Contact. It is a card linked to a Naira denominated account, and it is valid for three years. It is designed to suit the lifestyle of senior and management executives of multinational companies and leaders across various industries and sectors of the global economy. Its daily limits include; ATM: N300,000; POS: N3million; Web: N2,000,000 as well as Cross-border TXN limit: $500 monthly.

Speaking further, Adeduntan highlighted that the contactless capability of the bank’s Visa and MasterCards support less human-to-human contact in executing transactions, in the same way that the debit cards have remained the base channel for self-onboarding to any digital channel such as USSD, Firstmobile, FirstOnline etc. FirstBank has also initiated value added services attached to the cards including discounts at merchants' locations such as Jumia Friday, Health Plus, among others.

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How to Make Money with WEMA BANK ALAT

WELCOME TO THE WORLD OF POSSIBILITIES.

What is ALAT?

ALAT is a digital bank, the first if its kind in Nigeria! It is an innovation of Wema Bank Nigeria, developed to give you easy access to saving your funds and doing other bank transactions without being physically present at the bank.

With Alat digital bank, you can open a savings account using your phone number and Bank Verification Number (BVN) as well as other documents that you will be prompted to upload during the registration process.

It’s simple, convenient, reliable and requires no paper work. You also stand a chance of making money off it.

Great Opportunity on how you can start earning money with ZERO INVESTMENT

I want to introduce to you a legitimate business powered by WEMA BANK PLC who just launched her new mobile banking app called ALAT.

Now, how does this have to do with me earning a living?

WEMA BANK PLC came up with a business that pays anyone just for using her new mobile banking app.

✔No investment.

✔No buying & selling.

✔Unlimitted Earnings.

✔Instant pay per work.

✔No PayPal Account.

✔100% instant bonus.

✔10% interest on savings.

✔MANY MORE.

HOW REALLY DO I EARN WITH THIS APP?

In this business,there’s only one means of earning which is by creating awareness(referring/inviting).

You earn as you refer. You earn a credit of #1000 instantly in your ALAT account per person that uses this app using your referral code. This isn’t peer to peer, ponzi or mlm, you are been credited instantly by WEMA BANK PLC. This is free of charge, you don’t have to pay anyone, not even your referrer nor WEMA BANK PLC.

With is ALAT app, your earnings are unlimitted.

THIS IS HOW I EARN WITH ALAT APP.

I get credited with #1000 instantly per person that uses my referral code, if I refer 5 persons, I will earn (#1000×5)=#5000,when I refer 10 persons, I will earn (#1000×10)=#10,000

With this app, you stand a chance to earn 10k, 20k, 30k…….. instantly by referring 10,20,30……..persons free of charge,this is so so sweet.

?NOTE: You get an instant credit alert SMS on your phone on any pay & when you login to your app, you will see the same amount you saw in the SMS.

 

HOW TO GET STARTED:

This is very easy, All you have to do is to open a WEMA ALAT Account using the below procedures:

✔Download ALAT app from your Playstore (Android) or Applestore(iOS devices).

✔Open & Fill in your details in the app (phone number,e-mail address,date of birth, Bvn number[dial *565 *0# to know your bvn number]).

✔Input X3HC6S in the gap for referral code, don’t leave it blank.

✔Upload a picture of you & your signature whc u sign on a paper & upload.

Now, your WEMA ALAT BANK ACCOUNT have been created & ready for use.

On your dashboard, you will see your Account Balance as #0.00 & your Account Number.

✔To activate your account, you will need to fund your account with #500 ONLY,this can be done through online banking,ATM or walk into a nearby bank.

✔After a successful funding, you will get an instant credit alert of #1000 as SMS & also it will reflect on your dashboard and your balance will change from #0.00 to #1000.00(that shows it’s free since the #1000 is still yours).

Now you have a fully functioning bank account that can send money, receive money, save money, buy airtime, buy Data, you can withdraw your money via ATM Machine using your ALAT debit card.

After you must have done the needful above, CONGRATULATIONS .

✔Click on refer a friend to access your referral code, use it to refer a friend & earn unlimitedly.

HOW DO I GET PEOPLE?

Getting people is not a problem especially in this Internet age where most people are on the Internet with their Android phones and Laptops. However, there are many ways you get people registered using your referral code. You can get people by the following methods: Direct talk with family members, Friends, Relatives etc. You can also get people through social platforms like Facebook Page/Group, Whatsapp Group, Twitter, Histagram, Blogs, Forums like Nairaland, jiji, olx, News platform and many other platforms you could ever think that people do visits often…This is how I make cool money with this WEMA BANK APP.

BENEFITS OF WEMA ALAT APP/NUMBER.

✔This account can save more than #200,000.

✔This account can carryout a transaction of over #20,000 at a time with any other Nigerian bank.

Remember to fill your detail with referral code:X3HC6S

In your first login, if you have issues, simply click on “Forgot your Password?” and reset your password to the initial one through the Password Reset Notification sent to email and after that, your account will work fine.

More so, go to the profile section and fill in your details, ensuring that all the ticks are green so that your account does not become restricted. Check this section regularly to ensure they’re all perfect.

NOTE: You can also sign up via System/URL by clicking: https://online.alat.ng/#/signup

But, to get your referral code, you must use Alat app via Android or iOS device.

Open a bank account in less than 10 minutes and get your Virtual Card shipped to your doorstep in two business days.  I hope you find this very interesting and easy?

ADVANTAGES OF HAVING AN ALAT ACCOUNT:

ALAT By Wema Bank will save you time with a simple account opening process.

# Cash out: For every friend who joins alat with your referral code and funds their alat account with 500 naira, you will be given a gift of 500 naira. When you refer up to ten friends who all fund their alat accounts with 500 naira and upload required documents,they will add 5,000 naira to your account for a total of 10,000 naira

# Save Easily: Take the pressure off with a simple automated savings plan and earn 10% annual interest – three times the standard bank rate.

# Sign Up In 5 Minutes: Open an ALAT account from your phone with your BVN and phone number, no paperwork required.

# Schedule Transfers: Schedule your transfers and recurring bill payments so they’re paid on time even if you forget.

# Free Card Delivery: Pick one of three bank card designs and we’ll deliver yours to you in two business days, anywhere in Nigeria, at no cost.

# You Can DIY: Change your PIN, update your personal information and upload documents with your phone’s camera. No help needed.

# Control Your Card; Activate your debit card, lock it, unlock it and choose where it works all from your phone.

# Fund your Account: You can fund your Account via a Wema Bank Current or Savings Account (If you are an existing Wema Bank customer) or via other local or foreign card from any bank.

# Zero account: You can withdraw all your money.

# Automation: It will help you put money away easily by automating your savings. It will make sure your bills are paid on time with its scheduled payments feature.

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Nigerian traders not affected by Ghana quit notice, says envoy

ABUJA—Ghanaian Minister for Foreign Affairs and Regional Integration, Ms Shirley Ayorkor-Botchwey, has said Nigerian traders were not affected by the recent quit notice to foreigners to vacate the country’s retail markets.

President Buhari smiling with President Nana Akufo-Addo of Ghana

Botchwey said this when she paid a courtesy visit on her Nigerian counterpart, Geoffrey Onyeama, Monday, in Abuja

Foreign nationals engaged in retail business in Ghana were on July 11, issued a quit notice to vacate the country’s markets, as Ghanaian law reserves operation of retail business only for citizens.

National Association of Nigerian Traders had warned that the quit notice could spark xenophobic attacks.

However, Botchwey maintained that Nigerians and other ECOWAS citizens were not affected by the quit notice.

She said: “This has nothing to do with our ECOWAS brothers and sisters. It was more to do with other nationals.

“Yes, there is a problem that Nigerians and other ECOWAS citizens have been cut up in this issue of traders being given quit notice to exit our markets with their retail trade which is, by the law of Ghana, reserved for Ghanaians.

“Our government is doing what it can; sitting with the Ghana Traders Association to ensure that there is that understanding that it has nothing to do with Nigerian and other ECOWAS traders.

Onyeama in his remarks, said the Ghanaian minister’s visit demonstrated the country’s concern that Nigeria should, in no way, interpret the issue as xenophobia against Nigerian traders.

“The minister’s visit was to assure the government and the people of Nigeria that the government of Ghana is on top of the situation and would resolve the issue,” he said.

Onyeama said the Minister explained that what prompted the outcry was not about nationals of ECOWAS, but nationals from outside Africa who had been installing themselves in the Ghanaian retail business.

He said:   “The government of Ghana is not happy about that because they want to be in strict compliance with all their obligations under the ECOWAS Protocol of Free Movement of Persons, Goods and Services,” Onyeama said of his meeting with the Ghanaian Foreign Minister.’’

He said the Ghanaian government was engaged in really coming out with a law consistent with their position as an ECOWAS member state.

According to him, they are at that process but are also very mindful of the special relationship they have with Nigeria.

“They are particularly keen that in no way should it result in any targeting of Nigerians, any xenophobia against Nigerians.  So, the government, in fact, the President himself, is personally engaged in addressing the situation.

“For her to travel, to fly here to meet with me for one hour, I think, demonstrated the concern of the Ghanaian government that Nigeria should in no way interpret this as some kind of xenophobia against Nigerians.

“This also to assure us that the government is very much on top of this and will hopefully resolve the situation very quickly,” he said.

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30,000 tons cocoa processing factory ready for commissioning soon – Ayade

Cross River State Governor, Professor Ben Ayade has expressed satisfaction with ongoing work at the 30000 tonnes per annum cocoa processing plant in Ikom.

Ayade, who was visibly excited by the delivery of equipment for the plant, said the factory would soon be ready for commissioning.

“I am really impressed. As you can see, intellectual money is on display here. From what I have seen, the contractors deserve excellent pats on the back. This is what we call commitment and consistency,” the governor remarked.

He said the plant has the capacity to process cocoa beans to chocolate bars.

“Again, we are going to be the first in Africa as this is the first cocoa processing plant that will process cocoa beans to chocolate,” he stated.

He said with the delivery of the equipment, his vision for cocoa revolution in the state was crystalizing.

The governor, who said he knew from the first day he was sworn in, what he needed to do to enhance the economic well-being of the people, said the plant will bring about value-chain addition to cocoa, which will ultimately enrich cocoa farmers in the state.

“This is the spirit of intellectual money and Cross River ultimately will be proud that I knew where I was going from the beginning. I am following an agenda that at the end of my eight years in office, when every single citizen of the state remembers my days, he or she will say this young man had a great vision.

“For all the years gone by Cross River has been producing cocoa for other states to bear the name because we did not have an off-take mechanism, we did not have a programme by government to buy off the cocoa at good rates. So, outsiders used to come in and buy the cocoa from us and grade it as cocoa from their own state,” he stated.

The plant, which will soon be operational, now offers cocoa farmers in the state “the opportunity, platform and industry to process their own cocoa, giving a premium value for money. A cocoa house is going to be built here. Once you have a cocoa farm, you just come here, collect money during harvest, we take your cocoa, so you have money for the product and you don’t have to go to bank to get a loan.”

Ayade urged the people of the central senatorial district t”o see the cocoa processing plant as their own baby by ensuring no harm comes to it.”

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CBN holds monetary rates steady for two years

Central Bank of Nigeria’s (CBN) governor Godwin Emefiele

Analysts see pressure from election, budget spending
Foe the 12th consecutive time in two years, the Central Bank of Nigeria (CBN) has retained all the monetary policy rates for the country.

The decision was taken at the Monetary Policy Committee (MPC) meeting of the apex bank held in Abuja yesterday.

Consequently, Monetary Policy Rate (MPR) remains at 14 per cent; cash reserves ratio at 22.5 per cent; liquidity ratio, 30 per cent while the asymmetric corridor around the MPR stands at +200/-500 basis points.

While there are acclaimed improvements in economic indices, the continued maintenance of the status quo in rates’ decision shows that there was much desired than achieved in the last two years.

The major challenges within the period were how to counter risks of inflation, attract foreign investments and maintain exchange rate stability. They put interest rate reduction out of considerations.

CBN Governor, Godwin Emefiele, in a statement issued at the end of the two-day meeting, reiterated that the growth recovery of the country remained fragile.

He advised that, for the umpteenth time, coordinated fiscal and monetary measures should be taken to increase consumption, assuring that inflation would fall further and Gross Domestic Product (GDP) would remain positive in the second half of the year.

According to Emefiele, the CBN, while still looking for ways to boost credit to the economy and keep hold of inflation, is encouraging large companies to issue commercial papers at lower yields. He assured that the apex bank would consider releasing funds to lenders to support businesses at single-digit rates.

The CBN governor, who expressed worries over possible increase in liquidity arising from the implementation of the approved 2018 budget, said the bank could also invest in any commercial paper issued by companies to create jobs.

A research analyst at FXTM, Lukman Otunuga, said it was no surprise that the CBN left the interest rates unchanged despite cooling inflationary pressure, stressing that the uncertainty ahead of the 2019 elections and threats of pre-election spending could not be wished away.

He added: “Externally, global trade tensions, appreciating dollar and prospects of higher rates in U.S. could threaten price stability. While a rate cut has the ability to stimulate economic growth in Nigeria, it may widen the divergence in monetary policy between the U.S. Fed and CBN, ultimately accelerating capital outflows.

“The CBN may have a tough decision to make during the final quarter of 2018. If Nigeria’s economic growth in the second and third quarters of the year is solid and oil prices remain elevated, this could make the apex bank’s decision easier.”

Analysts at Afrinvest Securities, in a note to The Guardian, said that the argument for rate cut was only for the sake of policy consistency, but the risk factors to exchange rate stability and capital outflows remained the policy anchor.

“Thus, a neutral stand (holding rates) gives CBN the opportunity to assume a position which would not be inimical to the twin goals of growth and price stability,” they said.

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Insurance coy dragged to court over alleged failure to pay N3m claims

The Standard Alliance Insurance Company

has been dragged to the Abia High Court in Aba over the company’s alleged refusal to pay N3 million to a client on maturity of his life insurance.

The News Agency of Nigeria reports that the suit filed by Mr Okorie Mark, a businessman hinged his claim on alleged non-payment of “Income Protection Plan’’ with code number IPP/11/000638/ABA, which commenced in 2011.

The applicant in his statement of claims said that following the terms of the policy, the company was to pay him the money in July 2016 when the policy matured.

Mr.  Benjamin Emeri, counsel to Mark said his client neither defaulted nor breached any terms of the policy with the company within its lifespan.

Emeri said it was established that his client in the process of purchasing the policy overpaid the company by N100, 000, thereby bringing the total contribution to N3, 100, 000.

Counsel to the applicant had averred that the controversy arose when the applicant approached Mr Uche Ochemba, the Aba Branch Manager of the company for his claims.

Emeri said Mark had written a letter to the headquarters of the company on Dec. 21, 2017 through the Aba Branch Manager to further press for the payment, but got no response.

The counsel said the applicant also sent a reminder on the subject matter on March 15, 2018, and was replied with a stinker which necessitated the suit.

Emeri said the Standard Alliance Insurance, in its letter to the applicant, signed by the Head of its Legal Department and his deputy, Mr Kasoki Olekanma and Mrs Nkiruka Uzoechi, respectively disowned the policy.

The company in the letter said it could not accede to Mark’s request to be paid the assured sum of N3million when no policy existed.

The claimant’s counsel, however, said the company later asked for the receipts of the instrument, to ascertain the veracity of the claims.

He said the applicant had done as directed by the respondents, by sending all the evidence of payment directly to the company.

According to him, the respondent is yet to respond to his last letter.

The applicant is seeking an order of court to compel the respondents to pay him the assured sum of N3 million with 10 per cent interest amounting to N3, 600, 000 until payment is completed.

He also prays the court to order the company to pay him N10 million as damages.

NAN reports that the other respondents in the suit are listed as Johnson Chukwu, Chairman, Bode Akimboye, CEO, Bolaji Oladipo, Executive Director and Uche Ochemba, Aba Branch Manager.

Justice Uche Enwereji directed that the processes be served on the respondents before the next hearing date.

No date was fixed for the next hearing.

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