Don’t Fall Victim - See How Fraudsters Use Social Media to Steal Money From Your Bank

Scammers use social media platforms, including Facebook and Twitter, to target Nigerian banks, telecommunications customers seeking support and stealing money from them.

Scammers monitor the Facebook and Twitter pages of companies like Zenith Bank, GTBank, Fidelity Bank, First Bank, Airtel, MTN and others to identify people seeking help.

Pretending to be business support agents, they turn to clients for help in DM.

After showing sympathy and promising to resolve the problem, they convince the customer to move the conversation to WhatsApp.

Once they have you on WhatsApp, they ask you for personal details to resolve the problem. This includes bank account details and related information.

Things You Should Know About Nigeria e-Naira Crytocurrency Launching Oct 1st

Last month, the Nigerian government reported that it will dispatch its own cryptocurrency, and presently the rules have been declared. This is all that you need to think about Nigeria e-naira with wallet name speed wallet.

1. The Nigeria digital currency (e-Naira) will be regulated, designed, and issued.

2. The Central Bank Digital Currency (CBDC) will be launched on October 1st

On October 1st, CBN will be Launching its Own CryptoCurrency

The Nigerian Central Bank Governor, Godwin Emefiele had prior declared that the bank will be chipping away at a national bank computerised cash during the 306th Banker's Committee meeting.

According to private sources, the pilot scheme will be launched on October 1st, 2021.

The press briefing delivered by the Director IT department, Rakiya Mohammed, at the end of the meeting further explained that the Bank had been conducting research in regards to central bank digital currencies since 2017 and may conduct a proof of concept before the end of this year.

See How to Block All Bank ATM Card If Stolen, Lost or Misplaced This season

The holiday season has arrived and reports of ATMs stolen or lost will be just as common. That is why we have put together the easiest way to block an ATM card in Nigeria if it is stolen, misplaced or lost before losing money.

Whatever bank you use, this article will be useful for emergencies related to improper ATM setup.

How to Block Major ATM Cards in Nigeria

Nigerians Will Now Pay N6.98k For Every USSD Transaction Carried Out

A few days ago, telecom operators removed the USSD short code service bank from their platform, which meant that customers would face huge challenges when conducting financial transactions through the USSD platform.

As of today, Nigerians will now pay 6.98kN for every USSD transaction made from their mobile phones. Price has replaced the old session-based billing structure for USSD transactions.

According to CBN “Mobile Network Operators (MNOs) and Deposit Money Banks (DMBs) have had protracted disagreements concerning the appropriate USSD pricing model for financial transactions.

World Remit Now Aligns with CBN on new Dollar Account Opening

The cross-border digital payment service, World Remit, described the decision of the Central Bank of Nigeria, CBN, to force commercial banks to open dollar accounts for customers who lack time and capacity.

The director of the state, World Remit, Nigeria and Ghana, Gbenga Okejimi, said the move would improve payments for those receiving support from family and friends abroad.

CBN recently announced that all Nigerian banks will have a mandate to facilitate money transfers by automatically opening bank accounts in U.S. dollars for those who do not currently have U.S. dollar accounts.

See 7 Things You Should Know About Access Bank N50B Loan, Grant – How to Apply

Access Bank Plc will begin issuing an interest-free loan of N50 billion, and the concession is reserved for micro, small and medium-sized enterprises (MSMEs) that were demolished by bandits after protests against police brutality in the country last week.

Here is all the information you need to know about the disbursement

Access Bank Announces N50 Billion Interest Free Loans, Grants for Nigerians

Access Bank Nigeria Plc. It announced N50 billion to Nigerians through interest-free loans and grants to support communities, youth and micro, small and medium enterprises.

This information was disclosed by the bank through its official LinkedIn page.

The bank’s official statement read thus,

Now more than ever, we remain committed to our purpose of impacting lives positively. In light of the recent occurrences, we will be supporting Nigerian businesses with 50 Billion Naira interest-free loans and grants. Watch this space for more information.”

You’ll no Longer be Able to Spend More than US$100 Per Month on These Master Cards

It is no longer news that you can no longer use a Naira Master Card to purchase online on international websites using a card like the GTB Master Card due to the spending limit of $100 monthly on it. And other banks are starting to follow their example, which is bad for the business of those who usually shop on international websites.

If you have a Zenith Bank Mastercard, you can only spend $ 100 a month on it ... According to Zenith Bank, “The international monthly spending limit for a Zenith Bank Naira card has been revised to $ 100 while using a Zenith Bank Naira card to withdraw funds at international ATMs (Automated Teller Machine) is still temporarily suspended.

Ecobank Launches Virtual Prepaid Card for Online Payments

Ecobank has launched a virtual card, a digital payment solution for secure network payments, integrated with its digital banking channel, Ecobank Mobile.

The virtual card was launched in the recently introduced version of the Ecobank Mobile application, which is available for download on Google Play and App Stores.

According to a statement, all Ecobank current, savings, and Xpress account holders who are on-boarded on the mobile app can now access a virtual card for their online payment needs.

See How to Get Your Money Back When You are Sc@mmed or after a Wrong Bank Transfer

Approximately 11% of all bank transfers via ATMs and mobile phones were mistakenly transferred to another user's bank account. This means that by chance, more than $ 10 million ($ 10,000,000) a day has been mistakenly sent to the wrong bank account. This is a problem faced by millions of people around the world.

This mistake can leave you with a lifetime debt if it is not corrected. Making the wrong bank transfer can be very upsetting, but hopefully you will be able to get your money back. We provide a guide to easily refund money sent to the wrong account number.

Have You Gotten Your Stimulus Package From CBN? Apply Here

Those of you who have applied for the CBN incentive program have probably already borrowed from your account. At least many of the people who signed up for me have their own. Let us know if you got yours in Nirsal.

Some of you are still thinking about signing up or not, but we advise you to enjoy and sign up, and that doesn’t stop us from sharing some business ideas with you. If you are seriously affected by the Covid19 pandemic, now is the best time to sign up for this incentive package.

If your application was successful, you’ll get disbursement in the coming weeks. The CBN had introduced the N50bn Targeted Credit Facility as a stimulus package to support households and Micro, Small, and Medium Enterprises affected by the COVID-19 pandemic.

Ecobank USSD Code: How To Transfer & Check Account Balance

You have an account or banking with Nigerian Ecobank. If you are banking with the bank and are looking for a way to transfer or check your account balance, you will be in the right place as long as you read this article. Pan africa bank not only has a mobile application, but also a short code to facilitate your banking activities, even after confirming the address.

The code Ecobank came into play as the world became digital. With a simple code, you can transfer or check your account balance even without a 2G or 3G compatible phone. Check some features available when using the USSD code.

BVN Sc@m is not about BVN - See reasons why your BVN cannot be used to steal your money

I was researching when i saw this great article about Bank Verification Number (BVN). The article talked about, the reason for bvn and why it can not be used to steal your money. Read below

“A lot of legitimate organizations ask for BVN but a lot of people are panicky because of the Notorious BVN scams. Now here's what you need to know about BVN” 

I'm taking time to make this explanation because of some people that want to learn. I've decided to go ahead and state this explanation because of the contention on why nibsshackathon.com.ng needed the BVN.

1. BVN is a number that ideally could be traced to you. Its a form of identification mechanism. It is similar to an ID card. The number is similar to the number on your driver's license, or your international passport.

Did You Applied for CBN Stimulus Package? Funds Disbursement Begins

If you sign up for the CBN Incentive Package here, the good news is that the payment of the first installment of a $ 50 billion target credit line from the Central Bank of Nigeria will start on Thursday.

Over 80,000 people applied for the stimulus package managed by the NIRSAL Microfinance Bank. The Managing Director, NIRSAL Microfinance Bank confirmed the development in a telephone interview to Punch.

Though the amount to be disbursed in the first tranche was not disclosed, but those whose applications were successful would start receiving their fund on Thursday.

See the New CBN Shocking Policy on Cash Withdrawals - Start on 1st of April

Central Bank of Nigeria (CBN) has introduced a new policy on cash-based transactions which stipulates a cash handling charge on daily cash withdrawals that exceed N500,000 for Individuals and N3,000,000 for Corporate bodies.

The new policy take effect from Wednesday the 1st of April, 2020. This comes as an addition to the already existing charges on the cash deposit.

It means, when you withdraw cash over 500,000 Naira from any of your commercial Bank, you will be charged as stated below:

See How to Connect With GTBank on WhatsApp, Solve any Dispense Errors

WhatsApp has made it easier for different companies to connect with their customers. If, in case you didn't know, GTbank is now making it easy to connect with them on WhatsApp, you want to open an account or quickly solve your problems without visiting a bank office, then this article is for you.

Here are the Guarantee Trust bank Services you’ll be able to Get on WhatsApp

CBN Cut Down Bank Transfer Charges to N10, Likewise Slashes ATM Withdrawal Fee

I have a good news for Nigerians, who have always been in favor of the unusual rates that accompany transfers to other banks and the fact that they have to pay constant fees each time, even for a smaller number of transactions.

The Central Bank of Nigeria (CBN) has audited the fees charged to Nigerians for popular fees for maintaining ATM cards and electronic financial transactions.

According to a recent report made by the country’s Apex Bank, bank customers will from now on pay N10 for each electronic transfer below N5,000, and N25 for electronic transfer between N5,000 and N50,000. Only electronic transfers from above N50,000 will cost N50, according to the new policy.

See How to Instantly Get Collateral Free Loan With Access Bank

Most loans come to us when available money cannot meet the urgent needs of the field. A loan helps us deal with an emergency financial situation.

Like GTB, Access Bank secured loans without collateral. As an access bank client, you can get secured loans in the comfort of your own home. That means no paperwork, no need to sign or order at the bank ... just dial the code and you'll get an instant credit alert.

Access Bank Acquires Diamond Bank

Access Bank Plc has finally acquired Diamond Bank Plc. According to insiders, the official announcement of the transaction will be made in the course of the week by the Central Bank of Nigeria, CBN, according to TheCable.

Another source said confirmed that the deal has been sealed, awaiting final ratification from the regulatory body. The acquisition was midwifed by the CBN in a bid to further consolidate the banking industry, sources informed.

Weeks ago, Diamond Bank announced its decision to drop its international operating licence to focus on national operations following capitalisation issues. Uzoma Dozie, the bank’s Chief Executive Officer, confirmed the development in a statement released on Friday.