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Tag: ATM

  • Nigerian banks record N1.6trn ATM transactions in three months

    The National Bureau of Statistics (NBS) has revealed that transactions valued at N1.6 trillion were recorded in Q2 2018 by banks operating in Nigeria via the Automated Teller Machine (ATM).

    In terms of volume, a total of 217.4 million transactions were carried out at various ATM points across the country in the period under review.

    According to the Sectorial Breakdown of Credit, e-Payment Channels and Staff Strength report released by the stats office, a total volume of 509,7 million transactions valued at N32.90 trillion were recorded in Q2 2018 as data on Electronic Payment Channels in the Nigeria Banking Sector.

    An analysis of the report by Business Post showed that a total of 2.3 million transactions worth N1.3 trillion were carried out via cheques, while POS recorded 67.2 million transactions valued at N543.6 billion.

    It was also gathered from the report that 9.8 million deals worth N53.3 billion were recorded using the web, while mobile payments had 20.7 million transactions valued at N410.6 billion.

    Also, NIP had 168.6 million transactions worth N19.1 trillion, NEFT had 8.8 million transactions valued at N3.6 trillion, mCash recorded 60,172 transactions worth N396.2 million, while e-Bills Pay posted 267,949 transactions worth N130.7 billion.

    In addition, 9.3 million transactions valued at N4 trillion went through the Remita platform, while about 5 million transactions valued at N2.2 trillion were executed via NAPS, with Central Pay recording 217,524 transactions worth N1.8 billion.

    In terms of credit to private sector, the total value of credit allocated by the bank stood at N15.34 trillion as at Q2 2018.

    Oil & Gas and Manufacturing sectors got credit allocation of N3.45 trillion and N2.02 trillion to record the highest credit allocation as at the period under review.

    As at Q2, 2018, the total number of banks’ staffs increased by 13.67 percent quarter-on-quarter from 89,608 in Q1 2018 to 101,861.

  • Banking sector records N32.90trn transactions in Q2 – NBS

    The National Bureau of Statistics (NBS) says a total of 509,668,433 transactions valued at N32.90 trillion was recorded in the banking sector during the second quarter.

    The NBS stated this in its “Selected Banking Sector Data: Sectorial Breakdown of Credit, ePayment Channels and Staff Strength (Q2 2018)’’ report released in Abuja.

    According to the report, Automated Teller Machine (ATM) transactions dominated the volume of transactions recorded.

    It said 217,417,961 volume of ATM transactions valued at N1.603 billion was recorded in the period under reveal.

    “In terms of credit to private sector, the total value of credit allocated by the banks stood at N15.34 trillion as at the second quarter.

    “Oil and Gas and Manufacturing sectors got credit allocation of N3.45 trillion and N2.02 trillion respectively to record the highest credit allocation as at the period under review.

    “As at the second quarter, the total number of banks staff increased by 13.67per cent, from 89,608 in first quarter to 101,861,” the report stated.

     

  • Man in court over alleged theft of ATM card, withdrawing N150, 000

    The Police in Abuja on Wednesday docked one Eze Nathaniel in a Kubwa Grade 1 Area Court for allegedly stealing an ATM card and withdrawing N150, 000.

    The defendant, of Jaji Street, Kubwa, Abuja was docked on a one-count charge of theft.

    The prosecutor, John Okpa, told the court that one Uche Anyawu reported the matter at the Kubwa Police Station on July 4.

    He said the defendant dubiously stole the complainant’s Fidelity Bank ATM card and withdrew N150, 000 sometime in September.

    Okpa said the offence contravened Section 287 of the Penal Code.

    The defendant, however, pleaded not guilty to the charge.

    The defence counsel, Anenin Enabosi, in an application for bail, assured the court that his client would appear in court for trial and that a reliable surety would be provided.

    The judge, Abdulwahab Mohammed, admitted the defendant to bail in the sum of N200, 000 with one reliable surety, who must reside within the court’s jurisdiction.

    He adjourned the matter until Aug. 14, for hearing.

    NAN

     

  • Southern Nigeria ancient community celebrates ATM advent [Photos]

    Southern Nigeria ancient community celebrates ATM advent [Photos]

    A Delta State community, Orerokpe, hub of ancient civilization in Southern Nigeria and headquarters of the Okpe local government area on Monday marked and celebrated the inception of automated teller machine (ATM) services.

    The advent of ATM in the community, championed by immediate past chairman of the local government, Godwin Ejinyere, marked a new era in the community.

    TheNewsGuru reports, on assuming office, Ejinyere had contacted management of United Bank for Africa (UBA) on the need to extend ATM services to Orerokpe to help alleviate the challenges faced by residents of the historic community who move to and fro Warri or Agbarho just to get cash.

    “Getting the bank’s headquarters/management to accept and approve ATMs for Orerokpe was like a camel passing through the eye of a needle,” the former council boss, now SSA to Governor Ifeanyi Okowa stated.

    “But, I did not give up. After many meetings, pleadings and “lobbying”, the bank graciously approved and gave the go-ahead,” he added.

    TheNewsGuru gathers that in February, a set of durable and modern ATMs were brought by UBA to Orerokpe after a first set was rejected by the former council boss on grounds that the machines were not durable and modern.

    Orerokpe was renowned to be the hub of civilization in time past, and the Orodje Okpe, His Majesty, Orhue 1, Major Gen. Felix Mujakperuo (retd), became the first person to officially operate an ATM in Orerokpe.

    The Okpe monarch became the first person to operate the ATM at the official commissioning of the machines on Monday, and the former council boss became the second person to operate an ATM in Orerokpe.

    See photos:

    Set of newly installed ATMs

     

    Orodje Okpe making withdrawal as first person to officially operate an ATM in Orerokpe
    Orodje Okpe shortly after the withdrawal
    Elated Orodje Okpe
    Ejinyere making withdrawal as second person to officially operate an ATM in Orerokpe
    UBA representatives, Ejinyere and others at the commissioning of the ATMs

    With this development, the unbanked and under-banked populations around the Orerokpe, Oviorie, Oha, and other neighbouring communities will now have access to this banking service, and also, the ATM will service entrepreneurs and small and medium business owners in the axis.

     

  • ATMs record transactions worth N1.56bn in first quarter – NBS

    The National Bureau of Statistics has revealed that transactions from Automated Teller Machines of selected banks across the country reached N1.568 billion in the first quarter of 2018.

    The NBS stated this in its Selected Banking Sector Data for First quarter, 2018, posted on it’s website.

    The bureau stated that a total of 457,226,406 transactions valued at N32.48 trillion were recorded in the first quarter on Electronic Payment Channels in the Nigeria Banking Sector.

    It, however, stated that ATM transactions dominated the volume of businesses recorded by the banking sector which was 212,370,853 transactions.

    In terms of credit to private sector, the report stated that a total of N15.60 trillion credit was allocated by the banks in the quarter.

    It stated that the Oil and Gas and Manufacturing sectors got credit allocation of N3.42 trillion and N2.07 trillion to record the highest credit allocation within the period under review.

    The report also stated that the number of banks staff decreased by -0.93 per cent from 90,453 in the fourth quarter of 2017 to 89,608 in the review period.

    NAN

  • Banks ripping us through ATMs, customers cry out

    Banks ripping us through ATMs, customers cry out

    Commercial Bank customers within the Federal Capital Territory (FCT) have decried excess charges by banks through Automated Teller Machine (ATM) withdrawals.

    Some customers who spoke to a News Agency of Nigeria (NAN) correspondent, said they dreaded making withdrawals using other banks ATMs because of the continued charge of N65 for every transaction.

    According to the customers, most banks within the city centre have programmed their ATMs to dispense only N10,000 or less per transaction, thus ripping off customers withdrawing more than that amount.

    The customers complained that if they had to withdraw N100,000 or more through other banks ATM, it meant they would lose so much money.

    They, however, called on the Central Bank of Nigeria (CBN) and other relevant authorities to look into the matter so as to help poor Nigerians.

    Miss Agatha Young, a First Bank customer, said, “I live in Kubwa, one of the suburbs around the city centre and almost all the banks ATMs in my area dispense maximum of N10,000.

    “Recently, I needed to withdraw N200,000 and my bank’s ATM was crowded, so I went to use another bank’s ATM only to discover that the machine was dispensing only N10,000 per transaction.

    “I was only able to withdraw N150,000 because other customers were waiting on the queue and I was tired of going through the same process.

    “I also discovered I was charged almost N1000 for that transaction as I had exceeded three withdrawal limit using the other bank’s ATM, which is outrageous.’’

    Mr Sunday Mgbede, a Gurantee Trust Bank customer, residing in Nyanya, another suburb around the city centre also said most of the ATMs in his area dispensed maximum of N10,000 per transaction.

    “If you want to make withdrawals at weekends around the Nyanya/Mararaba axis, you will discover that only few ATMs are dispensing over N10,000 per transaction.

    “The concerned authorities should please look into this matter because people are suffering, there is no money in the country, yet banks want to make profit off customers.

    “Even the N65 charge which CBN authorised should be charged after three transactions, I am not sure the banks follow the rule due to the debit alerts we receive after withdrawals.’’

    Another customer of First Bank, Erica Jonah who narrated her experience, said she used her ATM card to withdraw N100,000 from another bank and discovered the machine was programmed to dispense N10,000 per transaction and was charged N65 per every transaction.

    Jonah said that was not her first experience, describing the practice by banks involved in it as fraudulent.

    She also called on regulatory bodies in the industry to look into the matter with a view to curbing such excesses by banks involved in the practice.

    Meanwhile, Mrs Gift Agbo, a former banker, said most ATMs used by banks in the country were not designed for Nigeria’s currency and that is why the amount it dispensed was limited.

    “Some of these machines are old and not programmed for the kind of money we have in the country.

    “The notes which many banks put in the machines also limits the amount that can be dispensed by the machines.

    “I am sure this problem can be resolved if Nigerian banks invest in customised machines that are suitable for our environment and currency,’’ she said.

    In its reaction, CBN Consumer Protection Department said it had received several complaints from bank customers over the low withdrawal limit set by banks on their ATMs.

    Mr Fada David, thevSenior Manager, Complaints Management Division of the Department, assured customers that the apex bank was working to make sure that such complaints were addressed.

    “Yes we have received complaints from people saying they could withdraw for example N40,000 from bank A yet they are not able to get that much if they carry a card of Bank A to bank B ATM.

    “First of all, I want the public to know that withdrawal from any ATM at all is not supposed to attract any charges until you withdraw more than three times in a month.

    “If you are using your bank’s ATM, you are at liberty to withdraw as many times as you like in a month without incurring any charges.

    “Also, we want to encourage customers to engage their banks to find out why there is such a withdrawal restriction on ATMs,’’ he said.

    David also urged customers to embrace the cashless policy and use other payment methods such as POS, internet and other Mobile banking applications; to reduce over dependence on cash.

    “You can use other payment channels for goods and services. You can go to the market, buy something and use your mobile app, pay for that product.

    “Unless it is absolutely necessary that you need to take cash, consumers can take advantage of a lot of other payment channels to pay for goods and services and do other transactions,’’ he said.

    David said that bank customers also have the responsibility to improve the way their bank serves them by officially writing to complain about bad services.

    According to him, it is only then will the bank address the issue to make sure that their customers are happy with the services being rendered.

  • Man allegedly steals neighbour’s ATM cards, withdraws N2m

    A 30 -year – old businessman, Obinna Otigba, who allegedly stole his neighbour’s two Automatic Teller Machine (ATM) cards and withdrew N2 million from her accounts, on Thursday appeared before an Ikeja Magistrates’ Court.

    The accused was arraigned before Magistrate O.J. Awope on a two-count charge of stealing and illegal conversion of property for personal use.

    Otigba, who resides at Ojokoro area of Lagos, however, pleaded not guilty, and was admitted to N500,000 bail with two sureties in like sum.

    Awope said that the sureties should be gainfully employed and show evidence of two years’ tax payment to the Lagos State Government.

    The prosecutor, ASP Ezekiel Ayorinde, said that the accused committed the offences from Nov. 17, 2017 to Nov. 28, 2017 at his residence.

    He said that the accused stole the ATM cards from Mrs Theresa Ajibade and absconded to an unknown destination.

    “The accused who lived in the same house with the complainant, stole her ATM cards and took to his heels,” the prosecutor submitted.

    Ayorinde said that the accused withdrew the N2 million from Ajibade’s two bank accounts.

    “The accused withdrew N2 million from the complainant’s pension account and investment account, thereby emptying the accounts,” he said.

    The prosecutor said one of the cards was recovered from the accused while he claimed to have misplaced the other.

    He submitted that the offences contravened Sections 280 and 287 of the Criminal Law of Lagos State, 2015 (revised).

    Section 287 stipulates three years’ imprisonment for stealing. The case was adjourned until March 26 for mention.

     

  • Banks must settle customers’ complaints within 2 weeks – CBN

    Banks must settle customers’ complaints within 2 weeks – CBN

    The Central Bank of Nigeria (CBN) has directed that banks and other financial institutions must settle customers’ complaints on issues of overcharge, unauthorised deductions and other matters within two weeks.

    Mr Tajudeen Ahmed, The CBN Head of Complaints Management Division, said this in an interview with the News Agency of Nigeria in Abuja.

    He said the CBN would ensure that bank customers received redress on issues of excess charges or unauthorised withdrawal.

    Ahmed reiterated the apex bank’s commitment to eradicate short payment of interests and end the culture of excess and arbitrary charges.

    According to him, the CBN has since issued a circular, which could be found on the Its website showing all legitimate bank charges.

    He explained that any charge outside what is contained in the circular was not allowed and should not be charged.

    “The consumer protection department issued guidelines to banks dated August 16, 2011, directing all banks and other financial institutions to resolve all customer complaints within two weeks of receipt of that complaint.

    “Before the expiration of that complaint, the financial institution is expected to be engaging the customer on a continuous basis to update him or her on the status of the complaint.

    “If it is not resolved within the deadline given, then such a person is encouraged to draw the attention of Central Bank of Nigeria to find solution to that complaint,” he said.

    Ahmed advised customers with unresolved complaints to contact the CBN by writing to the Director Consumer Protection Department or send an email to cbd@cbn.gov.ng.

    He also advised disgruntled bank customers to visit any branch of the CBN closest to them to lay their complaints.

    “The CBN continually engages the banks to find out if their conducts and practices are fair to their customers in order to stimulate people’s confidence in the banking system.

    “Non-adherence to that normally results to regulatory sanctions as the case may be,” he said.

    Ahmed faulted banks for setting a limit on ATM withdrawals to get customers to make several withdrawals to cash large sums.

    “I have also observed and noted this. Don’t forget that at the beginning, it wasn’t like this. Over time, we started having this problem.

    “One of the reasons is that the quantum of N500 denomination is much more than that of N1,000 denomination.

    “When we approached the banks about these problems, they said that the machines become easily faulty when it is set to dispense up to N30, 000 to N40, 000 units.

    “However, CBN has directed that the machines that allow payment of up to N30,000 to N50,000 should be installed.

    “This is still ongoing. The Banking and Payment Department of the CBN is championing it,” he said.

    Also, the Head of Consumer Protection Division, Mrs Hadija Kasim, said bank customers could also avoid some of these issues by inculcating the habit of cashless policy.

    She reminded the public that there were various methods to make payments rather than carrying cash.

    “Let’s not forget that ATM cards can also be used on Point of Sale (POS) terminals.

    “We are encouraging people that unless it is absolutely necessary, they should reduce the carriage of cash. Cashless transactions are more convenient, safer and you will avoid the problem of overcharges,” she said.

    Kasim also advised bank consumers to use bank transfer channels for transactions in cases where sellers do not have POS.

     

  • ATMs disappoint customers in Jos metropolis, failed to dispense

    ATMs disappoint customers in Jos metropolis, failed to dispense

    Residents of Jos on Saturday decried the poor services by banks as many automated teller machines (ATM) in the metropolis failed to dispense cash to frustrated customers on long queues.

    Some of the stranded customers, who spoke with the News Agency of Nigeria (NAN) in Jos, expressed disappointment at the failure of many bank ATMs to dispense cash.

    NAN observed that no fewer than 20 customers were seen clustering round various ATM points waiting to withdraw money.

    The bank customers attributed the inability of many of the ATMs machines to dispense cash to network problem and accused bank managements of inadequate arrangements to avert the situation.

    Mr Alfred Ibrahim, a businessman, said he was on the ATM queue at Beach road in Jos North for more than four hours, lamenting that most of the ATMs were not working.

    He said that bank managements were aware of the usual bottlenecks at the ATM points during festive periods and ought to have made good provision for easy access to withdrawals.

    “I was expecting the banks to make adequate preparations for this season but out of five machines in a bank, none is even dispensing cash; that is why there are longer queues where they are operational,” he explained.

    Mr Chijioke Okpara, a civil servant, said he went to the ATM at Stefans Rayfield at about 5 a.m. and still met bdozens of people on the queue.

    “I went to the ATM around 5 a.m. and left around 8.45 a.m. I just wonder why banks would not ensure all their machines are working and have enough cash, “he said.

    Mrs Josephine Dawak, a civil servant, told NAN at an ATM at Secretariat Junction in Jos South that the banks were making deliberate efforts to reduce spending during the Yuletide season.

    “They tell us if you are not withdrawing above N100,000, do not come to the banking hall, yet they are hoarding money for the machines when they should all be operational, ” she said.

    Mr Ibrahim Isa, who was on transit to another local government, said he had visited several ATMs and was unable to withdraw money due to the long queues.

    ““I am stranded now for lack of funds to continue my journey, I am coming from Abuja going to Mangu Local Government Area, I have been on my feet without food for more than four hours.

    “I came to Terminus, thinking it would be easier but to my dismay, the crowd here is intimidating, you cannot be allowed to withdraw for emergency reasons because everyone is tired of standing, “he said.

    NAN reports that many customers blamed bank managements for not adequately stuffing their ATMs with enough cash during the festive period.

    “Bank officials knew well that cash is always in high demand during this time and more so salaries have just been paid, so they should have made enough cash available at ATMs,” said a bank customer.

    All efforts by NAN to speak with officials of the various banks proved abortive as they all refused to comment.