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UBA Verve Cardholders get eCash Rewards

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United Bank for Africa (UBA) Plc in partnership with Verve International has launched an offer tagged “UBA Verve Rewards” in which Cardholders could win e-cash, free airtime, Nokia mobile phones and up to N35,000 cashback

Cardholders who use their UBA issued Verve cards to initiate a minimum of five POS or VAS (value added service) transactions on the ATM worth N1, 000 or more will stand a chance to win N1,000 airtime.

Cardholders who do transactions worth N2,000 or more on these channels stand a chance to win N3, 000 airtime plus mobile phones.

Value added Services (VAS) on an ATM is when UBA customers use the ATM to pay for transactions like phone bills, cable TV bills or transfer funds from their UBA bank account to another.

Also a minimum of 40 customers, who on a monthly basis, initiate a minimum of five POS transactions or Web transactions valued at a minimum of N10, 000 or more would win N5, 000 top up on their e-Cash account.

A grand reward of monthly cash back of N35,000 for will be won by 10 Cardholders who initiate transactions at any Verve Reward Merchant location valued at a minimum of N2, 000 or more.

The promotion has created excitement among UBA customers with many of them using or reactivating their Verve Cards to stand a chance of winning the attractive prizes on offer.

Speaking on the promotion, Mr. Charles Ifedi, CEO Verve International, expressed his delight in partnering with UBA to reward new and existing Verve cardholders.

“As Nigeria’s leading payment card brand we are always looking for ways to improve our offer and encourage card pick-up and usage so that everyone can benefit from a cashless society” he said.

He also promised that UBA Verve cardholders will benefit from exciting gifts by activating and using their cards across all channels.

“Cardholders can use their Verve cards to make payments securely in-store at POS terminals, online and on mobile, and at ATMs across the country. The reward scheme is primarily to encourage the use of the Verve Debit Card for local or domestic web and POS payments and also VAS (value added service) transactions on the ATM” he explained.

Dr. Yinka Adedeji, Divisional Head, e-Banking assured UBA customers that using UBA Verve Cards is safe and secure.

“UBA Verve Debit Card is protected with best in its class technology for online and offline security. It is fortified with the One Time Password (OTP) advanced security feature for online transactions” he said.

Dr. Adedeji explained that “UBA Verve cardholders can also access a selection of offers and experiences ranging from cash back to instant discounts, vouchers among others through the Verve reward scheme powered by Verve International and supported by various reward partners”

Verve is a home grown African payment card used by millions of Nigerians daily for payment for goods and services.

UBA, with more than seven million retail customers, is a major issuer of payment cards in the country. The bank issues Verve Card, MasterCard, Visa cards. UBA also pioneered the issue of Prepaid Cards in the country, which can be used without a bank account.

UBA’s innovation in the e-banking space recently earned it the distinction of being named “Best Transaction Bank from Africa” by UK based “The Banker Magazine and is also nominated for the Card Innovation Bank of the Year in the forthcoming Nigerian Telecom Awards

The UBA Group is a highly diversified financial services provider, one of the largest financial institutions in Africa, with business offices in New York and Paris and a subsidiary in London. The bank controls significant market share in 19 different African countries.

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Controversial Sterling Bank caught in the act! CBN sanctions, parades officials for hoarding new naira notes [VIDEO]

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Officials of the Central Bank of Nigeria (CBN) have discovered N6 million of the new naira notes hoarded in Sterling Bank Plc, Ado Ekiti branch on Bank Road, Ado Ekiti in Ekiti State, having received the funds for over two weeks, THE WITNESS reports.

 

In a trending video on social media, seen by THE WITNESS, a man who identified himself as Oluwole Owoeye, a deputy director of CBN, while monitoring the distribution of the new naira notes in the state, was seen questioning the bank officials as to why they have not uploaded the funds into their Automated Teller Machines, (ATMs), despite having six of the machines in place.

 

The CBN director also announced a fine of N1 million for each day the fund was in the bank’s custody.

 

The CBN official said, “I am currently at Sterling Bank, on Bank Road as part of the new naira notes monitoring compliance with the guidelines by CBN. They have N6 million, which they collected from the bank for almost two weeks, they have not disbursed any. They said they are yet to configure their ATMs, I do not know why that and I have brought attention to the penalty clause of N1 million per day, because they have five ATMs here, they have no reason for keeping this money.

 

“The zonal service manager, Tunde Onipede promised that by 10:00am latest tomorrow (Monday), because I told him by latest 10:00 am I’ll be here and I want to see the machine dispensing this money.

 

“What is the name again? Olumide Owolabi (Service Manager, Ado) & Motunrayo Babayele. My name is Oluwole Owoeye and I am a deputy director of CBN.”

 

WATCH VIDEO HERE:

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FCMB Manager Arrested For Hoarding New Naira Notes

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A manager of the First City Monument Bank (FCMB) branch in Osogbo, Osun State capital, has been arrested for allegedly preventing Automated Teller Machines (ATMs) loaded with cash from dispensing money to customers.

The spokesperson of the Independent Corrupt Practices and other related offenses Commission (ICPC), Azuka Ogugua, in a statement on Friday said the cash bundles were loaded into the ATMs while still wrapped, and as such, could not be dispensed through the machines

“The ICPC Compliance Team in Osogbo has busted an FCMB in Osogbo, Osun State, where some ATMs were loaded with cash with their wrappers un-removed, thus preventing the cash from being dispensed.

“The Team, therefore, directed that the wrappers be removed, and the cash loaded properly’.

Similarly, seven Point of Sale (POS) operators as well as a security guard were arrested during the ongoing exercise in Osun State for charging exorbitant commissions for cash.

Investigations, however, revealed that they got the money from Filling Stations that collect new notes from fuel buyers, but they then resell the cash to the public at exorbitant rates.

The arrested persons are helping the Commission with information to assist investigations and bust any syndicates involved in the hoarding or sales of the redesigned notes.

 

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New naira: ICPC arrests Stanbic IBTC Bank manager over sabotage

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The Independent Corrupt Practices and other related offences Commission (ICPC), has arrested an official of Stanbic IBTC Bank in Abuja for alleged sabotage.

The ICPC spokesperson, Azuka Ogugua, said the development was in continuation of ICPC’s clampdown on elements frustrating efforts in making the redesigned Naira notes available to members of the public.

The bank official, who is the branch service head of Stanbic IBTC Bank, Deidei Branch in Abuja, was taken into custody for her deliberate refusal to upload cash into the branch’s Automated Teller Machines (ATMs) even when the cash was available and people were queuing at the ATM points.

The statement reads: “When the ICPC monitoring team stormed the bank at about 1:30pm on Friday to ensure compliance, and demanded explanation as to why all the ATMs were not dispensing cash, the team was informed by the branch’s head of operations that the bank just got delivery of the cash.

“However, facts available to the ICPC operatives indicated that the branch took delivery of the cash earlier around 11:58am and either willfully or maliciously refused to feed the ATMs with the cash.

“Against this backdrop, the ICPC team compelled the bank to load the ATMs with the redesigned Naira notes and ensured that they were all dispensing before arresting the culprit.

“The ICPC said investigations were still ongoing and the Commission will take appropriate actions as soon they are concluded.

“Similarly, seven Point of Sale (PoS) operators as well as a security guard were arrested during an ongoing exercise in Osun State for charging exorbitant commissions for cash.

“Investigations, however, revealed that they got the money from Filling Stations that collect new notes from fuel buyers, but they then resell the cash to the public at exorbitant rates.

“The arrested persons were helping the anti-graft commission with information to assist investigations and bust other syndicates involved in the hoarding and sales of the redesigned Naira notes,” the anti-graft agency said.

 

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