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Tag: bank

  • JUST IN: Robbers attack bank in Ondo, kill five officials, Vice Principal, others

    JUST IN: Robbers attack bank in Ondo, kill five officials, Vice Principal, others

    Armed bandits on Mondays killed seven persons in Ido-Ani, Ose local government area of Ondo state during a siege on the only commercial bank at Isewa quarters in the ancient community.

    The robbery operation was said to have started around 2.00 pm and lasted for about one hour without any resistance.

    At the end of the attack, five bank officials, a Vice Principal who was a customer and a police man reportedly fell to the bullets of the hoodlums who carted away undisclosed huge amount of money.

    The robbers, it was learnt, drove a Sports Utility Vehicle to the bank and went straight to the banking hall after using dynamites to blew off the security doors.

    Sources said attempts were made to alert soldiers at Isua Akoko Military check point and police men from the vicinity but the robbers carried out their operation successfully before their arrival.

    Also, it was learnt that a victim allegedly shot on the stomach was rushed to the Federal Medical Centre (FMC) Owo.

    Others said to be on danger list were on admission at Ido-Ani General Hospital.

    Sources hinted that one of bandits was however unlucky as he was caught by a vigilant soldier and thrown into police custody.

    The Police Public Relations Officer (PPRO) Femi Joseph, a Superintendent of Police (SP), who confirmed the incident, said he could not give details of the incident as at press time.

    Balogun of Ido-Ani, Chief Olatunji Oshati(Maxima) described the incident as too shocking.

    He symphatised with the families of the deceased, urging appropriate authorities to beef up security in Ido-Ani and his environs.

    Former Supervisor in Ose local government council, Hon. Isaac Obiniran, lamented he alerted security agents immediately the hoodlums invaded the town but the response was not timely.

  • Man jumps to death from bank’s mast in Ibadan

    Man jumps to death from bank’s mast in Ibadan

    A man suspected to be mentally unstable on Saturday jumped to his death from a bank’s network mast in Sango area of Ibadan.

    Confirming the incident to the News Agency of Nigeria (NAN), the Oyo State Police Public Relation officer, Olugbenga Fadeyi, said the naked victim came to the Wema Bank branch in Sango and entered the building through its small gate.

    Fadeyi said that the victim, having successfully entered the premises of the bank through the small gate, climbed the bank’s mast before the security personnel became aware.

    He said the victim, however, jumped down to the roof of the bank before the police and Fire Service personnel arrived.

    “The impact was so much that he crashed through the roof and fell inside the bank.

    “ An official of the bank was called in to open the premises.

    “By the time the bank’s door was opened, the man was already bleeding through the mouth and was rushed to the University College Hospital where he was confirmed dead,’’ Fadeyi said.

    He said the corpse had been deposited at the Adeoyo Hospital for autopsy while efforts were on to ascertain his identity.

  • Reps petitions committee shelve sitting over bank infractions

    The House of Representatives Committee on Public Petitions on Tuesday shelved its planned sitting on the alleged document falsification by First Bank Nigeria Plc due to an adjournment necessitated by the death of Hon Temitope Olatoye who died last Saturday during the gubernatorial and state Houses of Assembly elections.

    The House adjourned as a mark of honour for the departed and this led to the inability of the committee to hear the matter.

    In a petition signed on behalf of the Britishplains School by Dr Francis Nwufoh the petitioners avowed that First Bank allegedly forged documents grandstanding to take over the school over a loan scheduled to be expire by 12th of June.

    It was alleged that surprising is that while the loan is yet to expire on 12th of June 2019, First Bank of Nigeria forged documents grandstanding to take the ownership of the School.

    The petitioners asked the committee to address these: (I) “Why did First Bank of Nigeria Plc file a suit just to claim and take over the school without establishing any monetary debt claim it has against the School?

    ii) Why did First Bank of Nigeria, an acclaimed Judgment Creditor throw the judgment of our Court to a dustbin and on its own seal up the School on a Sunday?

    iii) Why did First Bank of Nigeria allow nefarious persons to deny our future leaders their own “cradle of civilization” School?

    The answer is simple. It is the intoxication of unbridled greed and forgery against an unsuspecting Whiteplains British School that wholeheartedly believed that it was relating with an epitome of noble financial body; a bank.

    It was further stated among others that: “Very disturbing in the Bank’s above loan contract with Whiteplains British School is the curious perplexing strange document, a said Tripartite Legal Mortgage suddenly brought in as if it was part and parcel of the Bank loan arrangements with Whiteplains British School, “The snakey Tripartite Legal Mortgage is said to have been entered into by First Bank Nigeria Plc.

    2. Whiteplains British School Ltd.

    1. Ftance Lee Nigeria Ltd, styled a Guarantor.
    2. Regrettedly, the House committee couldn’t sit because of the passage of a colleague and have tentatively fixed March 21 and 23 2019 for the hearing.

  • CBN warns bank CEOs against breaching e-payment rules, submitting false reports

    The Central Bank of Nigeria (CBN) on Tuesday warned Chief Executive Officers of commercial banks in the country against breaching its e-payment reporting rules, including submitting/reporting false or inaccurate reports.

    Besides, the erring banks will get a penalty of N250, 000. Lenders that fail to ensure that third party end-to-end e-payment solution used by the bank/financial service provider is approved by CBN will also get N2.5 million fine and the managing director issued a warning letter.

    The threat was contained in a draft guideline on end-to-end electronic payment of salaries, pensions, suppliers and taxes released yesterday by the apex bank.

    The draft guideline, signed by CBN Director, Payments System Management Department, Sam Okojere, said the banks were expected to promote the adoption of end-to-end electronic payments by all stakeholders covered by this regulation.

    The guideline is in exercise of CBN’s powers, as provided in the CBN Act, 2007, Section 47, sub section 2(2d), hereby issues the following Regulation on the end-to-end electronic Payment of Salaries, Pensions & other Remittances, Suppliers and Revenue Collections in Nigeria.

    “They are also to provide payers and beneficiaries with e-payment enabled bank accounts with Deposit Money Banks, Other Financial Institutions or any other approved channel for receiving payments such as mobile money/electronic wallet, subject to the Bank’s approved Know Your Customer (KYC) limits,” the guideline read.

    The banks are also to process electronic payment instructions in accordance with subsisting payments system and clearing system rules and publish customer service/ contact centres details via multiple media channels and maintain customer service contact centres, to promptly attend to all electronic payment enquiries and challenges within stipulated timelines; and report of customer complaints, indicating resolution status.

    They are also to make available any or combination of the following data sets, as may be applicable, along with the mandatory returns to the CBN, on a monthly basis or as may be otherwise specified number of salary/pension/tax paying client organisations, salaries/pension/tax payment transactions count, salaries/pension/suppliers/tax payment transactions value per payment method given.

    It said that in the event of duplicated/excess payments, should establish a recovery process engaging both Payers and Beneficiaries in line with existing Regulation on Operation of Electronic Payment Channels in the county.

    The objective of the end-to-end electronic payment of salaries, pensions, suppliers and taxes initiative, the apex bank said, is fully aligned with the core objectives of the National Payment Systems Vision 2020 (PSV2020), which is to ensure the availability of safe, effective and efficient mechanisms for conveniently making and receiving all types of payments from any location and at any time, through multiple electronic channels.

    This will reduce the time and costs of transactions, minimise leakages in revenue receipts and at the same time provide reliable audit trails, thereby making the Nigerian payments system align with international best practices

  • CBN imposes N1m fine each on bank branches for paying counterfeit monies

    CBN imposes N1m fine each on bank branches for paying counterfeit monies

    The Central Bank of Nigeria (CBN) has imposed a penal fee of N1m on each branch of Deposit Money Banks for non-compliance with its ‘Banknote fitness guidelines and clean note policy documents for the industry.’

    The regulator disclosed this in a circular to all DMBs on ‘Penalty for payment of counterfeit monies from ATMs, Teller Points’ on Wednesday.

    It said, “The management of the CBN has observed with concern the incidences of counterfeits paid through some DMBs’ ATMs/Teller points. This situation has continued unabated despite moral suasion to the affected DMBs.

    “To address this, among others, the CBN in collaboration with key currency management stakeholders developed ‘Banknote fitness guidelines and clean note policy documents for the industry.”

    “In order to sustain public confidence in the national currency and ensure compliance with the provisions of the policy documents, the CBN said it approved the, “Spot checks on DMBs’ ATMs and Teller points to ensure compliance; and imposition of penal fee of N1m per branch of DMBs for non-compliance.”

    The apex bank said that the enforcement of the sanction would take effect after the launch of the two policy documents at a date which would be communicated to all stakeholders.

    According to the CBN, it has the statutory obligation to provide adequate supply of clean banknotes to facilitate seamless payment and settlement of transactions by the public, government and banks.

    Over the years, it observed that the growth in economic activities and the upsurge in population had necessitated the rise in the volume of banknotes in circulation.

    In view of technological advances, the CBN, like other central banks, had introduced various forms of electronic payment systems for an effective and efficient settlement of transactions and to reduce the volume of cash usage with its attendant cost implications.

    The regulator noted that demand for cash continued to grow despite technological advances.

    “The volume of currency in circulation as at the end of 2012 rose significantly by 10.34 per cent to N7.91tn pieces, as at half year of 2018,” it stated.

  • CBN unveils new policy to capture more Nigerians on banking system

    The Central Bank of Nigeria (CBN) on Thursday unveiled the National Financial Inclusion Strategy designed to ensure that at least 80 per cent of Nigerians have access to banking and other financial services.

    The CBN Deputy Governor on Financial System Stability, Mrs. Aisha Ahmad, made the presentation at the National Financial Literacy Stakeholders’ Conference in Abuja on Thursday.

    She said that the apex bank had also released new policy frameworks on consumer protection, financial literacy and financial education.

    “Adequate consumer protection is critical to sustaining the long term viability of the financial sector because consumer protection is a necessary precursor to building and maintaining trust in the formal financial sector.

    “An essential pillar of any consumer protection regime is consumer education, which is founded on financial literacy.

    “The benefits of a financially literate population are immense. Consumers are better equipped to make optimal choices in the use of financial products, pose lower credit and default risk.

    “In addition constitute a market for sustainable financial services and promote Financial System Stability by increasing market demand and responsible use of financial services,” she said.

    Ahmad said the CBN recently introduced regulations and guidelines for the licensing and operations of Payment Service Banks in furtherance of its efforts to leverage technology to enhance access to financial services for the unbanked.

    She said the move was expected to drive down exclusion rates by leveraging wider variety of multiple channels to enhance access to deposit products, payments and remittance services to small businesses and low income households.

    Meanwhile, the Director, Consumer Protection Department, CBN, Mr Kofo Salam-Alada, harped on the importance of promoting sound financial system in the country to ensure that consumers continue to have confidence in the sector.

    “As we seek to boost the number of consumers in the financial industry through the Financial Inclusion Strategy, it is important that we establish policies, structures and programmes that would engender confidence among the general public.

    “This is even more imperative considering the fact that we are only just recovering from a financial crisis that brought the financial system on the brink of collapse.

    “All the efforts at strengthening the financial system would be fruitless if there are no concerted efforts to restore trust and confidence among consumers,” he said.

    Salam-Alada revealed that since the consumer protection department was set up, it had successfully recovered more than N68 billion in favour of customers who have been shortchanged by their banks.

    Also, the Managing Director, Jaiz Bank, Mr Hassan Usman said that the bank was committed to deepening financial services in the country through its non-interest banking strategy.

    He said that the bank was currently engaging with women entrepreneurs in rural areas and giving them small loans to grow their businesses while encouraging them to open accounts.

    According to him, the aim is to expose them to bank facilities that will grow their businesses in the near future.

    The newly released National Financial Inclusion Strategy proposes roles and responsibilities for key stakeholders in the financial sector to reduce financial exclusion rate from the present 36.8 per cent to 20 per cent by 2020.

    The key stakeholders are the Federal Government, the Deposit Money Bank’s, Development Finance Institutions, National Insurance Commission, National Pension Commission, National Communication Commission and Nigeria Postal Service among others.

    The priority areas identified for the success of the strategy includes “Tiered Know-Your-Customer” regulations, agent banking regulations, national financial literacy strategy and consumer protection.

  • Bank challenges N29. 2m VAT imposed by FIRS

    An Abuja-based Mortgage Bank, Infinity Trust Mortgages Bank PLC, on Wednesday sued the Federal Inland Revenue Service (FIRS) in a Tax Appeal Tribunal sitting in Abuja, for imposing N29. 2 million remittance on Value Added Tax (VAT) with penalty and interest on it.

    The appellant sought the order of the tribunal for the annulment of the FIRS’s assessment or demand notice dated May 17 and July 6, served on it with penalty at 10 per cent and interest at 15 per cent.

    Responding, FIRS stated that the letter of reviewed and audited accounts were valid and issued in accordance with the relevant provisions of the law.

    FIRS sought the tribunal to declare that the VAT demand served on the Bank was valid and made in accordance with the law.

    The respondent further sought for a declaration that the VATable transaction by the appellant outside the main objectives of its business, is liable to VAT.

    FIRS further sought for an order compelling the appellant to pay to the respondent the sum of N29. 2 million being its VAT liability for the period of 2015 to 2016 as contained in the demand letter.

    At the resumed sitting on Wednesday, Mr Olumide Olujimi, counsel for the appellant informed the court that the matter was coming up for the first time and the witness they sought to bring was not present.

    He promised that by the next adjourned date their witness would be present and prayed for an adjournment.

    Mrs Beatrice Olaribijgbe- Oyinbo, counsel for FIRS informed the tribunal that they have filed their reply to the appeal since Nov. 28.

    The tribunal chaired by Mrs Alice Iriogbe adjourned the matter until Jan. 23, 2019 for hearing.

    NAN

  • Dismissed banker raids ATM gallery, steals N14m

    Dismissed banker raids ATM gallery, steals N14m

    A dismissed banker, Emmanuel Onuma, has been arrested by the police for breaking into the Automated Teller Machine gallery of his erstwhile employer and stealing N14m.

    The 34-year-old was said to have carried out the heist at the Garki, Abuja branch of the new generation bank on October 19, 2018.

    Parading Onuma alongside other suspects in Abuja on Wednesday, the Assistant Commissioner of Police, Operations, Federal Capital Territory Police Command, Valentine Olumese, said the ex-banker was dismissed in August for fraudulent activities.

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    “On November 1, in furtherance of an ongoing investigation, police operatives attached to the Garki Division arrested one Emmanuel Onuma, who broke into the ATM lobby of a bank located in Garki on October 19 at about midnight and stole the sum of N14m,” Olumese stated.

    He explained that the suspect confessed that he converted the money to $33,000 in Abuja and Kaduna for ease of movement.

    “Upon his arrest, the following amounts of money were recovered from him as exhibits: cash sum of $28,000; N1,650,120 and nine pieces of Ghana cedis. Other exhibits recovered from him include one new SIM card and flight tickets,” the commissioner added.

    Onuma, in an interview with journalists, admitted to the crime, stating that he carried out the act because the bank failed to pay his benefits after sacking him.

    “I worked with the bank for 11 years and I was not settled; no benefits, no settlement; but there is no justification for doing something wrong,” he stated and declined making further statements.

  • Hackers steal personal details of 120,000 customers, Bank of Thailand says

    Hackers steal personal details of 120,000 customers, Bank of Thailand says

    The Bank of Thailand (BOT) has confirmed that hackers have stolen
    information of more than 120,000 customers in a massive data breach into two major commercial banks.

    Cybersecurity operators at BOT has vowed to step up security measures and oversight after Kasikornbank
    and Krung Thai Bank reported cyber attacks during the Buddhist Lent holiday.

    However, executives of both banks said no suspicious transactions took place.

    Krung Thai Bank President Payong Srivanich said hackers used “advanced hacking techniques” to obtain
    personal data from 20,000 customers who had applied for credit online.

    According to the bank’s website, customers applying for loans or lines of credit need to provide a
    copy of their ID card and census registration, including income and bank statements.

    Payong said the bank was able to immediately stop the hacking after the bank’s IT Division reported
    suspicious activities of stealing data.

    “Krung Thai Bank quickly had cybersecurity expert to stop the breach and therefore no damages have been
    reported so far,” said Payong, “however customers who were affected were quickly notified.”

    Pipit Aneaknithi, president of Kasikornbank, said hackers obtained data from about 3,000 corporate
    customers who use an online bank guarantee service.

    Pipit said he believes the hackers were local bred and had the cybersecurity expert quickly block access
    into the bank’s internal data.

    “The data that might have been leaked was public information of the customers including company’s name
    and contact details,” said Pipit, “there have been no reports of suspicious transactions from the hack.”

    Pipit said he promises compensation to those affected.

    Thai Bankers Association President Predee Daochai said with the advanced technology in the Internet of
    Things, it is necessary to find more advanced levels in cybersecurity in the face of a rising global
    threat of cyber intrusion

  • JUST IN: Amid raging certificate forgery scandal, Adeosun wins bank board chair election

    The Embattled Minister of Finance, Mrs. Kemi Adeosun has been elected chairperson of the board of the African Export-Import Bank (AFREXIMBANK) amid a raging certificate scandal.

    The bank, which is celebrating its 25th anniversary, has been meeting in Abuja .

    Recall that an online news portal, Premium Times had last week reported that the minister forged the exemption certificate of the National Youths Service Corps, (NYSC) despite graduating at the age of 22.

    Adeosun will be succeeding the outgoing chairman of the Bank and Minister of Finance of the Republic of Rwanda, Ndagijimana Uzziel. The position has a one-year tenure.

    The paper also showed that the minister’s exemption certificate, which she has worked for years with, is unauthentic.

    Mrs Adeosun has yet to comment on the findings, and the federal government too has kept mute.

    Under the Nigerian law, certificate forgery is a criminal offence punishable by either a term of imprisonment or fine.