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E-Financial

Access Bank to Give Customers More Rewards this Season

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Access Bank Plc, Nigeria’s leading retail bank, has unveiled series of exciting rewards for its customers to celebrate the yuletide season.

The campaign tagged ‘More Xtravaganza’, will run from November 21 to December 31, 2019.

Access Bank Plc, Nigeria’s leading retail bank

Access Bank Plc

Speaking at the launch of the campaign in Lagos, Victor Etuokwu, executive director, Retail banking, Access Bank plc said “Access Bank is passionate about its customers and everything we do is centred around giving them more. This season, we have decided to launch this campaign to end the year on a high note in celebration of our customers. We appreciate them for their loyalty and support and this is our own way of saying thank you to them.

The More Xtravanganza campaign further demonstrates our promise to provide customers with the best banking products and services whilst rewarding them for banking with us. We will be rewarding 50 active and inactive Diamond Business Advantage customers with one-month free advert broadcast and production for signing up to the Ebony Life Access to Market package or reactivating their accounts respectively”. Victor said.

Commenting further on the campaign, Robert Giles, head, Insights and capabilities, Access Bank Plc, said “Customers are the reason the bank is in business and they will always come first in our products, processes and services.

To show appreciation for their patronage, we are going to feature three different DiamondXtra draws; Senior citizens draw, Women’s draw and the National quarterly draw this December. We will reward 19 senior citizens who are 50 years old and above, 10 Women in which one of them will win a shopping allowance of N100,000 per month for one year and 9 others will win N300,000 each and of course 1,016 lucky customers will emerge winners from our quarterly draw”.

In an interview with newsmen, Adaeze Umeh, head, Consumer Banking, Access Bank Plc said, “In the spirit of this yuletide season we will be rewarding our first 100 premium savers with daily airtime when they maintain their account balances for 30days. We are also going to reward the first 200 transfers on the mobile app with airtime. XclusivePlus customers who refer 3 new customers of their subscriber type will win one monthly/yearly plan. This reward will be for the first 200 customers. We will also reward our Early Savers with 20% bonus of their 13th savings for maintaining consistent savings over 12-month period.

To join our winning train, all you need to do is to dial *901#, or walk into any Access Bank branch close to you to reactivate or open new account and start enjoying the More Xtravaganza benefits”. Adaeze concluded.

Access Bank is committed to delivering products and services tailored to suit the lifestyles of every Nigerian irrespective.


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E-Financial

FG to Train 100,000 Youths Annually in Forex Trading and Financial Skills

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Federal Government of Nigeria has signed a Memorandum of Understanding (MoU) with Investonaire Academy to train 100,000 young Nigerians annually in forex trading, financial planning, and risk management.

The agreement, signed in Abuja, was announced by Omolara Esan, Director of Information and Public Relations at the Federal Ministry of Youth Development. According to her, the initiative is part of the government’s broader strategy to reduce youth unemployment and enhance financial inclusion.

At the signing ceremony, Minister of Youth Development, Comrade Ayodele Olawande, described the partnership as a milestone in the ministry’s efforts to equip young Nigerians with practical financial skills. He emphasized that the programme would foster critical thinking, improve digital literacy, and expand access to global economic opportunities.

Speaking on the collaboration, Dr. Enefola Odiba, International Programme Director at Investonaire Academy, highlighted the importance of empowering youth with relevant financial and digital skills. He described young people as essential drivers of innovation and national development.

The ministry assured that the programme would be implemented with transparency and measurable outcomes, ensuring that participants gain practical expertise in forex trading and financial planning.

The Federal Government has recently intensified efforts to boost skill development across various sectors. A separate plan aims to train 100,000 artisans nationwide, following the successful upskilling of 29,000 individuals in previous phases. This initiative seeks to professionalize vocational trades, eliminate quackery, and introduce licensing systems.

Additionally, technicians from specialized institutions will receive industry-standard training to strengthen Nigeria’s labor force and increase self-reliance in skilled professions.

Through these efforts, the government hopes to position Nigerian youth for economic success both locally and globally.


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E-Financial

NDIC Begins Final Settlements to Creditors of Liquidated Premier Bank

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Nigeria Deposit Insurance Corporation (NDIC) has begun the final phase of liquidation for the defunct Premier Commercial Bank, initiating the payment of liquidation dividends to verified creditors, nearly 25 years after the bank’s closure.

NDIC Begins Final Settlements to Creditors of Liquidated Premier Bank

Premier Commercial Bank had its operating license revoked by the Central Bank of Nigeria (CBN) on December 20, 2000, following findings of financial instability and regulatory non-compliance.

Since then, the NDIC has overseen the bank’s liquidation process under a winding-up order from the Federal High Court, which designated the corporation as the official liquidator.

In a public announcement, the NDIC invited all eligible creditors to visit any of its zonal offices between June 2 and June 27, 2025, to verify and claim their entitlements.

This move marks a critical milestone in the final settlement of claims related to the bank’s collapse.

To facilitate the verification process, creditors are required to present proof of deposit or shareholding, such as a passbook, chequebook, term deposit certificate, or bank statement.

Additionally, valid identification documents must be submitted, including a driver’s license, international passport, national identity card, NIN slip/card, voter’s card, or a formal identification letter from a traditional ruler or local government chairman.

The NDIC assured the public that the ongoing settlement is part of a broader effort to bring closure to longstanding claims resulting from Premier Commercial Bank’s liquidation. The process, according to the corporation, has been designed to ensure efficient disbursement to all verified stakeholders.

Premier Commercial Bank is one of 53 deposit money banks whose licenses were revoked by the CBN between 1994 and 2018 due to various violations and signs of financial distress.

These closures were followed by legal procedures appointing the NDIC to manage asset recoveries and creditor settlements.

By initiating this final phase of payment, the NDIC is reaffirming its commitment to financial system stability and depositor protection while calling on all affected individuals and institutions to complete verification processes promptly to receive their due compensation.


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E-Financial

SEC Directs Companies to Honour Unclaimed Dividend Requests

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Securities and Exchange Commission (SEC) has directed all public companies and Registrars to stop treating unclaimed dividends older than 12 years as “statute-barred”, especially those dating from before the enactment of the Finance Act 2020.

SEC Directs Companies to Honour Unclaimed Dividend Requests

The directive reaffirms the provisions of Section 60 of the Finance Act, which mandates that dividends unclaimed for over six years be transferred to the Unclaimed Funds Trust Fund (UFTF), where they remain accessible to shareholders pending claims.

The Commission said that shareholders are entitled to continue to claim their dividends that are not statute-barred (that is not above 12 years) before December 31, 2020 “when the Finance Act 2020, came into effect.”

According to the SEC in a Circular, “The attention of the Securities and Exchange Commission has been drawn to the fact that paying companies and their Registrars have continued to treat unclaimed dividends of public companies that are older than 12 years as being “statute-barred” without recourse to the provisions of the Finance Act 2020.

“In response to various inquiries on the subject, the Commission hereby clarifies as follows: The import of the provisions of Section 60 of the Finance Act 2020 (December 31, 2020), is that, where dividends declared by a public company quoted on the Nigerian Exchange Limited remained unclaimed for a period of six years or more, such dividends are expected to be transferred to the Unclaimed Funds Trust Fund (UFTF) to be held in trust and managed pending when the shareholder presents a claim for such unclaimed dividends.

“Pending the setting up and operationalisation of the UFTF by the Federal Government, pursuant to its powers under Sections 3 (4) (e) and 93 of the Investments and Securities Act 2025, the Commission hereby directs public companies and their Registrars to continue to honour all requests by shareholders for the payment of unclaimed dividends as described above, with effect from December 31, 2020”.

The Commission therefore directed public companies and Registrars to effect immediate compliance with the directive and submit periodic reports on same in the manner prescribed in the Commission’s Rules and Regulations.


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