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Tag: Customers

  • No tariff increase for customers enjoying less than 12 hours electricity daily – NERC

    No tariff increase for customers enjoying less than 12 hours electricity daily – NERC

    The Nigerian Electricity Regulatory Commission (NERC) on Friday insisted that electricity Distribution Companies (DisCos) must not increase tariffs of customers enjoying less than 12 hours of power supply daily.
    Mr Dafe Akpeneye, NERC Commissioner, Legal Licensing and Compliance, made the clarification during the regulatory agency’s online town hall meeting with customers on the new electricity tariff regime.
    The News Agency of Nigeria (NAN) reports that the DisCos had on Sept. 1 announced the implementation of new Service Reflective Tariff Plan (SRT) across their franchise areas.
    The DisCos said the classes of customers had been categorised into five bands with bands D and E who were not enjoying 12 hours daily power supply not affected by the new tariff plan.
    However, Akpeneye, who was responding to claims by some customers that the DisCos were not adhering to the increment terms, maintained that those below 12 hours supply daily should not experience any increment.
    He explained that the hours and bands were decided by the commission after consultations but customers were assigned to the bands by the DisCos.
    Akpeneye said:”Anyone who is enjoying less than 12 hours of electricity must not have their tariffs increased.
    “Customers who receive electricity service below the band they have been assigned can have the DisCos move them to the actual band of electricity service they receive.
    “Unhappy? Contest the band classification you have been assigned.”
    He said in order to protect unmetered customers from exploitation by the DisCos, NERC came up with “Parity with Neighbours”.
    “This is the principle we are applying with unmetered customers. It basically means as an unmetered customer, you cannot be charged more than your metered neighbour,”the commissioner said.
    Akpeneye also disclosed that NERC had mandated all DisCos to invest in infrastructure in order to increase power supply to customers.
  • CBN to PSBs: Don’t give loans to customers

    CBN to PSBs: Don’t give loans to customers

    Payment Service Banks (PSBs) operating in the country have been directed not to grant loans to their customers because they are not authorised to do so.

    This directive was contained in the guidelines for licencing and regulation of PSBs released a few days ago by the Central Bank of Nigeria (CBN).

    The apex bank in the guidelines said operators in the sector “shall not…grant any form of loans, advances and guarantees (directly or indirectly)” in the country, stressing that “as such, the provisions for the management of credit risk applicable to Deposit Money Banks (DMBs) shall not apply to PSBs.”

    Also, the central bank said PSBs are not allowed to accept foreign currency deposits, deal in the foreign exchange market except the sale of foreign currencies realized from inbound cross-border personal remittances to authorized foreign exchange dealers.

    In addition, they are prohibited from doing insurance underwriting, undertake any other transaction which is not prescribed by the guidelines or accept any closed scheme electronic value like airtime as a form deposit or payment or establish any subsidiary except as prescribed in the CBN Regulation on the Scope of Banking and Ancillary Matters, No 3, 2010.

    However, the PSBs are permitted to accept deposits from individuals and small businesses, which shall be covered by the deposit insurance scheme; and carry out payments and remittances (including inbound cross-border personal remittances) services through various channels within Nigeria.

    In addition, they are authorised to issue debit and pre-paid cards on their names; operate electronic wallet; render financial advisory services; invest in FGN and CBN securities; and carry out such other activities as may be prescribed by the CBN from time to time.

    The CBN said to commence operations in Nigeria, A PSB must pay a non-refundable application fee of N500,000; pay another non-refundable licensing fee N2 million and then have a minimum capital of N5 billion alongside other key requirements.

    The central bank said operators must adhere to some fair competition clauses, warning that failure to comply “may lead to revocation of the license of the PSB.”

    PSBs have the mandate to promote a sound financial system in Nigeria and make financial services accessible to low-income earners and unbanked segments of the society so as to make the financial services sector more robust.

    They are established to enhance financial inclusion by increasing access to deposit products and payment/remittance services to small businesses, low-income households and other financially excluded entities through high-volume low-value transactions in a secured technology-driven environment.

    They are expected to operate mostly in the rural areas and unbanked locations, targeting financially excluded persons, with not less than 25 per cent financial service touch points in such rural areas as defined by the CBN from time to time.

  • CAC stops customers from visiting Lagos, Abuja offices

    CAC stops customers from visiting Lagos, Abuja offices

    In line with current realities of the COVID-19 pandemic, the Corporate Affairs Commission has barred customers from physically visiting its office premises in Abuja and Lagos to carry out business transactions.

     

    According to a public notice released through its verified Twitter accounts on Thursday, the CAC said customers would be required to send and receive documents from the commission through designated courier companies from August 10 to August 31, 2020.

     

     

     

    The commission said this would help it reduce the number of persons in its offices while ensuring a convenient process for the accessibility of its services.

     

    It promised to set up a mechanism to allow customers send and receive documents via email.

     

    The statement said, “With this, the physical submission of original documents before collection of pre-incorporation certificates will be dispensed with.

     

    “The documents uploaded online by the customer and approved for the registration would suffice.”

     

    It said this new development would place a responsibility on customers to make sure that their documents were signed by the person’s name appearing in any transaction they were seeking.

  • Customers to Enjoy Access to Funds, Flexible Repayment Plans with New UBA Credit Card

    Customers to Enjoy Access to Funds, Flexible Repayment Plans with New UBA Credit Card

    Pan African financial institution, United Bank for Africa (UBA) Plc, has introduced the new UBA Naira Credit Card to its teeming customers in fulfilment of its promise to ease accessibility to funds and improve the overall standard of living.

    With the new UBA Naira Credit Card, customers whose salary accounts have been domiciled with the bank for a minimum of three months and are employees of corporates under UBA’s approved counterparty list with minimum net monthly income of N250,000 are in for a stress-free business and personal lifestyle. They will be qualified to access up to N3m credit, with extremely flexible repayment plans of as low as 10% of their monthly outstanding due.

    Specifically, these customers aged between 18 and 57years who apply for the UBA credit card will also enjoy easy access to funds with a revolving line of credit and up to 45 days interest free credit, flexible repayment options; amazing discounts at select merchant locations including Restaurants, Boutiques, among other mouth-watering benefits.

    The UBA credit card also allow ATM withdrawals in Nigeria or abroad wherever the Visa logo is displayed while allowing ease of payment of goods and services locally and Internationally on POS/WEB terminals where the Visa logo is displayed.

    UBA’s Group Head, Digital Banking, Sampson Aneke, said that as a bank that is interested in the welfare of Nigerians, UBA is always on the forefront of developing products and services aimed at creating wealth, easing living conditions and meeting the needs of its customers all over the world.

    He said, “At UBA, we recognise that access to credit is fundamental to the creation of wealth and value in the economy. Unfortunately, the country has been challenged in this regard with only about 2% of the population presently having access to bank loans.

    “It is in addressing these developmental and household challenges that the bank has in recent times developed and introduced a number of unique lending products to the market, with the latest being the innovative UBA credit card.”

    Aneke who spoke glowingly about all the benefits that the banks’ customers stand to enjoy from the credit card explained that the UBA Credit card is currently available as Visa Gold card with a card limit of between N75,000 to N1,000,000 and Visa Platinum card with a limit of between N1,000,001 to N3,000,000 and can be used locally and internationally at any ATM or POS outlet which has the Visa logo, WEB (online), and POS terminals.

    “There is an interest free period of 45 days on POS/Web transactions provided 100% repayment is made on the repayment due date and customers are entitled to 30% (annualized) of their monthly salary as credit card limit subject to the existing Debt Service Ratio (DSR). The monthly repayment cycle will run from the 15th of every month to the 15th of the next month and the credit card statement showing transactions details within the period and the amount due for repayment will be sent to the cardholders’ registered email address,” Aneke said.

    He explained that to get the card, customers can walk into any UBA branch or visit the bank’s website at www.ubagroup.com to download the credit card application form, fill it and submit to the Customer Service Officer at any UBA branch nationwide.

  • Access Bank bows to pressure, pays three-month Stamp Duty Charge for customers

    ACCESS Bank Plc on Sunday concluded payment for a three-month Stamp Duty Charge for all its customers debited from February to April this year.

    The affected customers had asked the bank to refund the charges to them, which the lender obliged.

    In a statement, the bank said it decided to remit these funds via the Central Bank of Nigeria to the Federal Government on behalf of the affected customers because of the lateness in debiting the customers’ accounts for the charge.

    Access Bank said Stamp Duty Charge Collection is backed by law, and in compliance with the mandate of the ‘Finance Act, 2019 (Stamp Duty Act, Cap S8).

    The bank said: “We are required by law to apply this charge as applicable and remit all funds collected to the Federal Government.”

    The bank disclosed that it had inadvertently not charged stamp duty on some accounts from February to April 2020 as mandated by the Federal Government.

    It said: “However, we have heard our customers’ feedback that this charge is unwelcome, especially at this time against a challenging economic backdrop.

    “We have considered your feedback and have decided to pay the Stamp Duty on our customers’ behalf for the affected period only.”

    The bank further explained that all individual and Small and Medium Enterprises (SMEs) who were debited for the accumulated Stamp Duty Charge for February to April 2020, will be refunded.

    Continuing, it said: “While we still have to remit these funds via the CBN to the Federal Government, we realise that we got it wrong by debiting our customers late, and we are refunding the affected Stamp Duty Charge today to all affected customers.”

    The bank advised customers with further enquiries on the issue to send email to it, thanking them for sharing their views on the matter.

  • Protect Your Bank Details; Don’t Get Scammed; UBA warns Customers

    Pan African financial institution, United Bank for Africa (UBA) Plc, has called on its customers to exercise utmost caution in their banking transactions and ensure that they do not fall prey to any nefarious activities during the Coronavirus lock down period.

    Specifically, UBA has urged its customers not to divulge any sensitive personal information regarding their bank and or card details.

    UBA’s Executive Director, Retail Banking & Payments, Chukwuma Nweke said the bank’s attention has been drawn to some fraudulent messages making the rounds, where customers have been asked to provide their card details for disbursement of funds into their accounts. He emphasised that customers should ignore such requests

    “Some of our customers may have received a call or message asking for their card details and Bank Validation Number (BVN) for disbursement of COVID-19 funds. Others may have also received an email informing them of bonuses of between N30,000 and N70,000 upon validation of their bank details online. It is important to note that these emails and messages did not originate from UBA, and we would never at any point in time ask for your account details over the telephone of via SMS, emails, live chat or social media. We advise that you kindly delete these messages and do not entertain calls of this nature. Please also inform the bank of these incidences immediately they occur’.

    Nweke further stressed that personal banking details including passwords, usernames, card numbers, security numbers at the back of cards, BVN, OTPs, security answers and other sensitive information should not be shared with anyone as UBA would never ask for them online or through phone calls or text messages.

    “Your card is for your personal use alone, do not give out your PIN and do not share any information regarding your card with anybody; if your card is missing or stolen please contact us immediately’ he said

    In the event of doubt, please contact UBA’s Customer Fulfillment Centre which is open 24/7 on 0700 225 5822,+234 1280 8822,+234 1631 9822 or send an email at cfc@ubagroup.com.

  • UBA Celebrates Staff, Customers at Customer Service Week

    UBA Celebrates Staff, Customers at Customer Service Week

    Pan African Financial services institution, United Bank for Africa is joining the rest of the world to celebrate the 2019 Customer Service Week, themed, “Magic Happens Here”, with recognitions for staff who have excelled in excellent service delivery.

    The event which is commemorated all over the world, recognises the importance of customer service and seeks to show appreciation to the staff who serve and support customers with the highest degree of care and professionalism.

    The theme for this year’s celebrations embodies all that the bank represents as encompassed in its Core Values – the 3EEEs: Excellence, Enterprise and Execution.

    Already, all branches of the bank are engaged in various activities which will make the week-long celebration exciting and memorable. Branches have been colourfully decorated, and customers are being treated to different exciting gifts and activities.

    UBA’s Group Managing Director/Chief Executive Officer, Mr. Kennedy Uzoka, who spoke on the significance of continuous excellent service delivery to customers, appreciated the staff who have worked tirelessly to satisfy customers, and urged them not to rest on their oars.

    He said, “Over three years ago, we resolved to address the persistent customer service challenges in the Bank by launching the Customer First (C1st) Philosophy. The primary objective of which was to transform the Bank into an undisputed customer-focused institution delivering excellent financial services from the customers’ standpoint.

    “As we celebrate this year’s Customer Service Week, I would like to express my gratitude to you all for the journey so far. It is my belief that, with our collective strength and commitment to the Bank’s corporate goals, the on-going crusade on Customer-First Philosophy, anchored on our core values; Enterprise, Excellence and Execution (3EEEs), the C1st drive will permeate the system and become our most treasured initiative group wide,” he noted.

    Explaining the theme, he urged staff to do all they can to go the extra mile and promote great satisfaction for customers, adding, “Let’s strive to put the magical touch in everything we do to create a symbolic service experience for our ‘Employer’ – the Customer!”

    The GMD seized the opportunity to explain that UBA is on the right trajectory to entrenching herself as the preferred bank in the hearts of customers, adding “Our primary objective is to imbibe and demonstrate C1st philosophy as a ‘way of life’ in all our engagements with customers. This is truly our core essence and how we wish to be primarily recognised always.”

    Also commenting on the special week, the Group Executive, Customer Fulfilment Centre, UBA Group, Mr Anant Rao said that UBA in the last 3 years has deliberately focused on its Customer 1st philosophy leveraging on a three prong lever of People, Process and Technology, saying that large scale transformations have been engendered with clear focus on serving the needs of the customers while laying emphasis on creating a holistic end to end Customer journey and with our ecosystem revolving around our Customers.

    “The singular mission of our consistent and superior customer experience has been imbibed into the DNA of each and every staff of the bank. In this way, there is no gainsaying that Service has been institutionalized at UBA. The mantra of our Customers being our employers has been ingrained into the psyche of each and every staff,” Rao noted.

  • Fidelity bank rewards loyal customers

    Over 6,000 customers have been rewarded to a tune of N2.6bn in the last four years by Fidelity bank Plc.
    This according to the bank is part of its continuous culture of giving back and rewarding its loyal customers.
    This was disclosed in Abuja on Tuesday by the Regional Manager of the bank (Abuja), Vanessa Mordi, during its campaign in Lugbe market.
    According to her, “In the last four years, over 6,000 customers have been rewarded under the Fidelity Personal Savings Scheme (FPSS), and over N2.6 billion has been given back to our customers across the country.
    “For us in Fidelity, we believe in giving back to the society. Lugbe is a place where we have a base. This has crystallized to the setting today for which three winners have emerged. It is something that we will continue to do from time to time to keep our customers and us close together.
    “We want to reach out to our customers and find out what their needs are and what we can do to meet it.”
    She further added, “If the GDP of our country has to change, we cannot do without Small and Medium Scale Enterprises (SMEs). As a financial institution, we have come up with products to support and help SMEs grow.
    “We have also set up the ‘Manage SME Desk’ to advise small and medium scale businesses in their business activities.”
    Three winners emerged during the draw; two customers won N500,000 each while the third winner (a child) operating the sweet Account won the sum of N150,000.
    Once you have an account opened with the bank – either a Savings Account or a Sweet Account (children’s account), and you operate it very well, you are a prospective winner. Customers can do this with as low as N10,000.
    According to a winner in the raffle draw, Mrs. Nneoma Agatha Nmadu, “I started using Fidelity in 2017. I operate other banks as well, but in Lugbe here, Fidelity is the best. I was not surprised to be picked as a winner in the draw because I know they never disappoint.”
    Another winner, Mrs. Stella Onuoha, expressed her delight and surprise that the bank sticks to its promise of rewarding loyalty.
    The third winner, Ms Deborah Enedubiojo, who operated the children’s account, went away with the sum of N150,000.

  • Alleged fraud: Access Bank explains officials’ role in sale of customer’s goods

    Access Bank Plc has officially reacted to reports making the rounds in the media that its Managing Director/Chief Executive Officer, Herbert Wigwe and other top officials of the bank were slammed with a N2.5 billion suit bordering on stealing and others.

    The 21-count charges were filed by the Lagos section of the Special Fraud Unit (SFU) of the Nigeria Police Force Justice N.I. Agbelu of the Ogun State High Court in Sagamu.

    Mr Wigwe, Alawode Oluseye, Bayo Adesina, and Access Bank Plc were all accused of conspiring and stealing 23,754.413 metric tonnes of steel billets valued at N2.5 billion belonging to BMCE Bank International Plc.

    The police claimed the defendants falsely presented themselves as the owners and sold the steel billets to Metal Africa Steel Products Limited without the authorisation of the actual owner.

    The alleged crime was said to have taken place in June 2017 at the premises of Metal Africa Steel Products Limited along Sagamu/Ikorodu road, Ewe Jagun, in Ogun State.

    In the suit, the police alleged that the defendants forged the Bill of Ladings number: MJINLOS150007’1A’; MJINLOS150007 ‘1B’; MJINLOS150007 ‘1C’; MJINLOS150007 ‘2A’; MJINLOS150007’2B’; MJINLOS150007 ‘2C’; MJINLOS150007 ‘2C’; MJINLOS150007 ‘2D’; MJINLOS150007 ‘2E’; MJINLOS150007 ‘2F’; MJINLOS150007 ‘2G’; MJINLOS150007 ‘2H’; MJINLOS150007 ‘2I’; MJINLOS150007 ‘2J’; MJINLOS150007 ‘2k’; MJINLOS150007’2L’ and MJINLOS150007’2M’, which they claimed were issued on January 9, 2016.

    The offences according to the police are contrary to and punishable under Sections 518(6), 434, 383(1)(f) and 390(9), 516 and 464 and 467 of the criminal Code of Ogun State of Nigeria, 2006.

    The offences also contravened Section 1(1)(a) and 1(3) of the Advance Fee Fraud and other related offences Act No. 14 of 2006.

    “That you Herbert Wigwe ‘M’, Alawode Oluseye ‘M’, Bayo Adesina ‘M’ and Access Bank Plc, on 22 day of June, 2017, at the premises at Met Africa Steel Products Limited, Km 16, Ikorodu-Sagamu Road, Ewe Jagun, Ogun State within the jurisdiction of this honourable court, conspired among yourselves to effect unlawful purpose to wit: the unlawful and unauthorised sale of 754.413 metric tonnes of steel billets, property of BMCE Bank International Plc without its permission or consent,” one of the charges read.

    However, in a swift response to the allegations, Access Bank, in a notice to the Nigerian Stock Exchange (NSE) on Monday, explained that in 2015, it provided credit facilities to Metal Africa Steel Products Limited, which it referred to as its customer, to finance the importation of billets and machinery for the expansion of its (customer) factory.

    According to the statement, “Consequent upon the grant of the facilities, the bank opened Form M and Letters of Credit (LC) to facilitate the importation of the billets for which the shipping documents were consigned to the bank. The facilities were secured by a Debenture Trust Deed over the customer’s assets shared with other lenders.

    “Upon arrival of the billets, the bank released the shipping documents to the customer to enable it clear the goods. The bank subsequently discovered that the customer had cleared the goods from the port without payment of appropriate customs duty.

    “The bank, in line with its duty to protect its depositors’ funds, reported the alleged crime to SFU which obtained a court order to take over the customer’s business operations. Furthermore, the bank petitioned Interpol, which is presently taking steps to repatriate the suspects involved in the alleged fraud from India. Subsequently, the beneficiary banks (including the bank) under the Debenture Trust Deed, appointed a Receiver/Manager who took over the operations of the customer’s business and paid the appropriate customs duty on the billets.

    “The Receiver/Manager subsequently obtained court order from the Federal High Court and sold the billets and distributed the proceeds amongst the beneficiary banks (including the bank).”

    Access Bank further said in the statement that it was “aware that the petitioner also laid claims to the same billets following which there were attempts at settlement between the petitioner and the Receiver/Manager. The petitioner subsequently filed a complaint at SFU following the failure of settlement.

    “Based on the foregoing, we were surprised to be served with the charges by the SFU alleging, amongst others, that the bank stole the billets and forged the shipping documents covering the billets.

    “We hereby state that at no time did the bank or any of its executives or officers commit any of the alleged offences. The bank has continued to maintain the position that it financed the importation of the billets and that the Receiver/Manager appointed by the bank and a syndicate of other lenders had the right to sell the goods. We are aware that there are civil matters in court on the same subject.

    “We are also aware that there are on-going settlement negotiations between the Receiver/Manager and the petitioner. Without prejudice to the settlement discussions and the civil matter, we reiterate that the Receiver/Manager appointed by the bank and a syndicate of other lenders acted within its powers to sell the billets.

    “We wish to assure our stakeholders that the bank will continue to take all necessary steps to protect its depositor’s funds in line with its fiduciary duties as well as extant rules and regulations.”