Fraud amounting to about N3.62 billion fraud was perpetrated through the Automated Teller Machines (ATMs); Point of Sales (PoS) machines, mobile and other electronic channels and cash as of the third quarter of 2022. The FITC, which disclosed this in its ‘Report on Frauds and Forgeries in Nigerian Banks’ Q3, 2022, said bank personnel carried out all cash theft cases reported within the period. Specifically, the 18-page document revealed that in the third quarter of 2022, 19, 314 cases were reported, compared to 20, 195 witnessed in the same period in 2021, which was a decrease of 4.36 per cent.…
Author: Elvis Eromosele
The Central Bank of Nigeria (CBN) has come out to debunk rumours making the rounds that it suspended accounts of Fintech companies like OPAY and PALMPAY. Isa AbdulMumin, CBN’s Acting Director of Corporate Communications, told the News Agency of Nigeria (NAN) in Abuja on Friday that the viral news “is simply fake’’. The viral news credited to Mr AbdulMumin stated that the CBN was about to suspend accounts of the Fintech companies because they were being used to perpetrate fraud. “Please if you are using OPAY, PALMPAY or any of these CHINA APPs or their POS, stop keeping much money…
Unilever is cutting down production in Nigeria. The company has cited the country’s worsening economic condition for its move, which could now add to the woes of Africa’s biggest economy. Nigerians may soon bid goodbye to popular brands such as Sunlight, Omo, Closeup, LifeBuoy, Vaseline, Dove, or Knorr as Unilever Nigeria is exiting home care and skin cleansing, to simply remain profitable. In 2021, these products earned the company, which has operated in the country for around a century, more than half its revenues. The naira’s continued devaluation, a high rate of exchange for the US dollar, and a chronic…
TN Nigeria’s board of directors have proposed a scrip dividend plan that will see the company’s shareholders convert their dividends into shares instead of cash. The telecommunications company wants shareholders to limit their demand for cash during dividend payments in order to increase MTN Nigeria’s liquidity. Dividends are often paid by cash through retained earnings or profit after tax. This leads to a decrease in the liquidity held by a firm and compels them to borrow from the capital market. MTN Nigeria said it needs to retain more cash to fund its working capital and other general corporate purposes. A…
Playwright: Olutayo Irantiola Publisher: Peo Davies Communications Year of Publication: 2022 Reviewer: Akeem Akinniyi Olutayo Irantiola’s The Okeho Exodus is a historical play set in 1916 but written in a modern-day language and filled with elements that will not alienate a reader in these present times. The play revisits the past of the descendants of Okeho who resettled among the hills along with ten villages to stem the tide of invasion by the Dahomey and Fulanis. What follows are intrigues of betrayal, and bastardisation of culture by colonialists which eventually leads to the tragic end of not only the king but the…
312 will be for Data Plan across networks 321 is for Share Services, 323 is for Data Plan Balance 996, is now for Verification of Subscriber Identity Module (SIM) Registration/NIN-SIM Linkage 2442, is retained for Do-Not-Disturb (DND) unsolicited messaging complaint management 3232, is retained for Porting Services, otherwise called Mobile Number Portability The Nigerian Communications Commission (NCC) has set May 17, 2023, as the deadline for all mobile networks to fully migrate from hitherto diverse shortcodes to harmonised codes. “The telecom regulator has “directed mobile network operators (MNOs) to commence implementation of approved harmonised shortcodes (HSC) for providing certain services…
BrandXchange, conveners of the 2023 Consumers Value Awards, have announced the commencement of nomination of brands eligible for voting. According to Akonte Ekine, Chief Analyst and Managing Director BrandXchange, the website for the nomination of brands of value in March in celebration of Consumer Rights day. We hope that consumers will contribute to the validation of brands’ efficacy by showing interest in the nomination of brands based on experience. To nominate brands, consumers should visit https://bit.ly/CVANominations The Consumer Value Awards is a Prestigious online periodic award aimed at creating awareness for the rights of Consumers and promoting brand excellence in…
The Edo Modular and Refinery Company Limited has ordered the supply of 150,000 barrels of crude to meet the demand of its growing clientele base, weeks after the commencement of production. Special Assistant on Media Projects to the Edo State Government, Crusoe Osagie, made this known in a statement on Sunday, reinforcing the project’s success at Ologbo in Ikpoba Okha Local Government Area (LGA) of the state. The statement said that the crude would be sourced from the Oza Oil Field, operated by Decklar Resources Inc and Millenium Oil and Gas Company Limited. The Edo Refinery, which is backed by…
By Elvis Eromosele Every day is public relations day. This is because the business of strategy and planning, communications and positioning never sleeps or stops. March 8, International Women’s Day, a day set aside to celebrate women, is a good time to recognize the role of women in public relations practice and the opportunity for growth. You would agree that public relations is an exciting and challenging field, one that offers a variety of opportunities for women to grow and thrive. It is equally engraced and enriched through the practice of women. While it is true that…
Elon Musk has regained his position as the richest person in the world after making a whopping $6.98 billion in eight hours of trading. He lost the title to French billionaire Bernard Arnault on December 8, 2022, following controversies surrounding his Twitter ownership, which led to a sell-off of Tesla shares and a decline in his wealth. Musk has made several attempts to regain the top spot, but fell short as Arnault’s wealth grew. However, on Monday, 27 February, the inevitable happened, the share price of his Telsa stocks increased by a whopping 100% after 8 hours of trading. This…