The Emergence of Internet Banking in Nigeria: An Appraisal

Sometime in April this year, Omolara found herself in a scary emergency situation. It was about AM and she was having the worst stomach upset ever. The pain was unimaginable. And as a young woman who lives by herself in a luxury Lagos apartment where all the neighbours mind their businesses, the only option she had was to call either one of her friends or family members to take her to the hospital. Grabbing her phone as she laid still in a foetal position, she tried calling Makinde, her boyfriend. Unfortunately, there was no call credit on her phone.

Ethics in Nigerian banking

This study evaluates the tangible benefits of e-business as an organizational tool and its influence on banking activities, as well as customer satisfaction practices. Cross tabulations and Chi-square were used to analyse the data. The study reveals that there is a linear relationship between high-level automation of banking services and improvement in service delivery.

Based on the findings, bank managers need to be knowledgeable and apply internet technologies in their banking activities.

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We go to great lengths to source, attract, recruit, develop and retain the best talents wherever they may be. That’s why we call it a tribe. UBA Foundation is committed to improving the lives of people in the communities in which the bank operates. UBA is dedicated to providing timely, accurate and balanced disclosure of all material information about the Bank. How much “runway” is there for risk assets? UBA Research Strategies detail what a market peak might look like and how investors should play the shift.

Play Video. All branches are open for business. At UBA, we take the safety of our staff and customers very seriously and are intensifying efforts to keep you safe as you visit our branches. With features that save you time, we have provided a completely new and enhanced mobile banking experience. We care about your health and safety. Coronavirus is spreading rapidly across the globe.

Here are the Top Online Scams You Need to Avoid Today [Updated 2019]

About Standard Insights Documentation Directory. We are working together to build a set of open API standards for banking in Nigeria. Learn More. Driving innovation and choice for customers, businesses, fintech companies and banks with nexgen API standards. Direct Debit.

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Viruses are harmful and give criminals access to your computer or mobile device. Install anti-virus software and regularly update its virus definitions. Outdated software have weaknesses that can be misused. It is important to keep your computer updated with the latest software. Old browsers might not be equipped to protect your devices from the latest security threats. Update your browsers to make it harder for viruses to infect them. Your devices are most vulnerable when they are not password protected.

Wireless networks have weak security settings to help users connect to them easily. Review and enhance your wireless network security settings. Phishing scams use false emails and websites to get login information. If you receive an email that includes a link to a website,ensure that the website is legitimate before visiting the site. Hackers can easily crack a weak password. Create smart and strong passwords by incorporating capital letters, numbers, and special characters.

Your social network profile can be a security as well as privacy risk.

2019 Banking Industry Customer Experience Survey

Not everyone using online dating sites is looking for love. Scammers create fake online profiles using photos of other people — even stolen pictures of real military personnel. They profess their love quickly. And they tug at your heartstrings with made-up stories about how they need money — for emergencies, hospital bills, or travel.

After you fill in your online banking credentials, cyber criminals use them to breach A typical Nigerian scam involves an emotional email, letter, text message or A woman lost £ million after she met two conmen on a dating site; A Perth.

In a collective visit to two camps for internally displaced people in Maiduguri, the Borno State capital, companies and banks that are part of the Nigeria Humanitarian Fund — Private Sector Initiative reiterated their commitment to the humanitarian response and taking ownership of it. As much as we are getting help from the rest of the world, we must be able to find solutions for our own people.

Our vision is beyond what our companies can do. Awosika led a delegation that included Mr. The initiative will see Nigerian companies join donor countries in pooling donations and resources together. The platform aims to create a more collaborative and effective response by bringing awareness to the ongoing humanitarian crisis — one of the most severe in the world — which is predominantly affecting women and children.

Indigenous Banking Enterprises: The Rise of Nigerian Multinational Banks1

Oftentimes, the con artists convince their marks to open bank accounts under the guise of sending or receiving funds. The story may be spun further, and the scammer will ultimately convince the victim to open the account in their name or register a limited liability company and allow money transfers to flow into the account. In reality, however, the fraudsters transfer stolen money into the account and instruct their unsuspecting crime accomplices into forwarding the money to accounts controlled by the fraudsters.

A recent report by the Better Business Bureau BBB said that up to 30 percent of romance scam victims in were used as money mules. Worse still, it is generally recognized that most victims are too embarrassed to come forward, so the actual losses are expected to be far higher. Obviously, romance scammers also scout for victims on social media, where, just like on dating sites, they lure victims with fake online profiles, creating attractive personas and elaborate plots.

Nigerian banking up until the bank capital increase. tinational firms were poorly equipped to service the local finance needs of Date of closure. 1.

Madison Marriage. While it remains possible to fall head over heels in love with a like-minded stranger in a bar or club, the idea of finding a life-long partner by chance at a party today seems sweetly old-fashioned and somewhat unscientific. Speak to any millennial about dating in the s or before and they will look at you with amazement at the constraints singletons once faced without the help of mobile phones, social media, dating websites and apps.

Finding love in the 21st century has arguably never been easier. Except, of course, it is not. This abundance of choice has become a headache for many single people and has ultimately spawned a new breed of dating app: elite platforms unashamedly catering to professionals, the wealthy, the highly educated and celebrities.

Luxy declined to provide figures on its profits or revenues, but Krause says it has been profitable since its first year of operation and now has more than 2m users. Those who apply to be accepted on to the app, which is free at the basic level, must first pass a hour process where they are vetted by existing members.

But he dismisses concerns about elitism. But many people wish to find an equally successful partner. Luxy is serving these needs by providing the platform. Why not a dating app for successful people?

Top 12 best online dating sites in Nigeria – Contacts and Phone Numbers

This premium service offers Nigerians in Diaspora the opportunity to open and operate a Nigerian bank account from anywhere in the world. Your passport photo with full face forward c. A copy of any of the following means of Identification:. PS: Documents which require notarization can be notarized seamlessly via www.

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Access Closa agents are in your neighbourhood to help with banking transactions. The drive to create testing, isolation and treatment centers in the 6-geopolitical zones in Nigeria. Our values underpin this strategic approach to sustainability and reflect our desire to preserve the future for all our stakeholders. Do not give fraudsters access to your account. If you receive a phone call, email or text message asking for your banking details, report to us immediately.

Choose from our personal savings accounts. Join the ethical banking movement. We innovate projects to better the lives of people in our host communities. With our one stop agency banking, you can now carry out banking transactions like:. Access The Stars was unquestionably one of the biggest television events of the year argue with your keyboards if Truth is, not all our Nigerian youths can be on a Vibez is a new digital community, showcasing the best of African entertainment to the world.

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The banking regulatory regime in Nigeria

We, humans, can become an easy target for malicious actors who want to steal our most valuable personal data. Criminal minds can reach these days further than before, into our private lives, our homes and work offices. And there is little we can do about it. Source: Federal Trade Commision. For this reason, we need to know what are the most popular techniques malicious actors are using to get unauthorized access to our private information and financial data.

Page 1. FOR IMMEDIATE RELEASE. Nigerian Banking Sector Demonstrates Commitment to Sustainable Banking. Practice has to date been limited, pointing to the insufficiency of internal capacity or management.

In making this presentation we would first of all highlight the major developments that have characterised the evolution of the Banking system in the country as currently configured. In this regard we would look at some details on the following issues; Mobile Banking, Agent Banking, Cryptocurrency and thereafter conclude the presentation by focusing on the theme: FinTech: The future of Banking in Nigeria. We would then bring the presentation to a close with some concluding observations.

It is common knowledge that banking was brought to us by the Colonial masters who saw banking as an essential infrastructure for the doing of business particularly business between the colonies and the metro pole. Therefore it was in the insurable interest of these past overlords that banking business was encouraged in the colonies to facilitate trade relationship. The first domestic bank in Nigeria was established in and was called Industrial and Commercial Bank. This Bank was liquidated in and was replaced with Mercantile Bank in A development that hallmarked the lack of depth in expertise in the management of banks in the early years of banking in the country was the spate of failures and harvest of distress amongst most of these early banks.

The African Continental Bank was established in as the only sustainable indigenous Bank after the liquidation of the Industrial and Commercial Bank. What we have attempted to do here is simply to profile the commencement of banking operations in the country to better contextualize the discussions we are going to herein engage in particularly as we attempt a periscope an outline of the bank of the future in the context of recent game changing developments as adumbrated by the attempt to leverage on technology to chart a competitive course for the bank of the future.

It is a matter for the records that the Nigerian banking scene as it evolved had witnessed many landmark developments over the years which would be impractical to try to capture here otherwise we might unnecessarily bulk out what promises to be a loaded presentation. But we may be remiss in undertaking this assignment if do not attempt to profile some of the landmark developments which have left definitive imprint so as to impact the evolving Nigerian banking environment of today.

The other important development in banking in Nigeria was the Consolidation program which was announced on July 6, with an initial deadline for compliance stated for December 31,

Emefiele extends Financial Inclusion target year to 2024

The internet is the most widely used communication network ever constructed. There are good and bad things happening on the internet, and among the bad things are ongoing attempts to scam innocent people out of their money or identities. The internet brings with it many such opportunities, and fraudsters appear to be waiting around every virtual corner with the latest in online scams. While some forms of internet fraud have gotten very sophisticated, even some of the older, less advanced plays still actually work.

If people know more about the types of scams taking place and what to look out for, we can hopefully save at least some people from getting swindled out their hard-earned cash. Related: Cybercrime stats and facts.

English News and Press Release on Nigeria about Humanitarian Financing; RW COVID page: Find latest updates on global humanitarian responses Nigeria’s bankers unite in support of Nigeria’s most vulnerable in a visit to IDP To date, the Nigeria Humanitarian Fund has raised $90 million in.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy. Nigeria moved from a country with zero legislation on cyber security to a country with an extensive law with the enactment of the Cybercrime Prohibition, Prevention, Etc. Act “the Act” in The Act prescribes punishment for specific actions such as cybersquatting, cyberstalking, identity theft, unlawful access to a computer popularly called hacking , cyber terrorism, racism and xenophobic crimes.

The promulgation of the Act was lauded by the public as it codified illegal activities conducted in the cyberspace. However, it has not been able to assist organisations with required information on how to structure their businesses to prevent cybercrime. Consequently, it is being argued in some quarters that the Act has failed to provide a standard by which organisations would prevent and mitigate cybercrime.

Beware Nigerian Online Dating Scams