Connect with us

News

Check ATM Fraud or Pay, CBN Tells Banks

Published

on

Kindly share this post

Central Bank of Nigeria (CBN) has asked deposit money banks (DMBs) otherwise known as commercial banks in the country to check the rising incidences of fraud in the electronic payment system or absorb the liability arising from end users losses, Nigeria CommunicationsWeek has learnt
This is coming just as the apex bank is making several efforts to address escalating complaints relating to Automated Teller Machines (ATM) transactions.
According to the CBN, DMBs are to issue debit cards on the written request of the account holder as the bank would be held responsible for fraud perpetrated with the use of cards without the written request of the account holder.
According to the regulatory body, “banks are to set and implement mandatory daily limits for ATM cash withdrawals,” and has also made compulsory the use of second level authentication for all payment cards.      
Nigeria CommunicationsWeek also gathered that card holders are to be provided with a facility to block their account immediately from their mobile phones on receipt of suspicious SMS transaction alert.
“All card issuing banks should deploy fraud monitoring tools that have the capability to monitor the normal spending trends of card holders as well as to automatically stop transactions perceived to be fraudulent,” said Abayomi Atoloye, director, Banking & Payments System Department of the CBN.
It would be recalled that the apex bank in time past directed banks to treat and respond to all complaints on card transactions within 72 hours of the receipt of such complaints and to set up help desks for handling ATM and other card-related complaints.
The CBN likewise set up a help desk for receiving public complaints on electronic card transactions with a view to fast- tracking resolutions by the affected banks.


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

News

AI Afrique Unveils Platform to Bridge Innovations Gap in Africa

Published

on

Kindly share this post

Foremost information technology (IT) solution provider, AI Afrique, has introduced a platform that will bridge the gap of developmental innovations between the advanced world and regions that were historically left behind during major global advancements, particularly, Africa.

Dr. Koyi Ugboma, Founder/CEO of AI Afrique, disclosed this in a statement, that the platform will make up for challenges hitherto faced by Africa through different phases and aspects of global advancement.

He said: “Africa, in particular, was not part of the Industrial Revolution, missed out during the Avant Garde era, and lagged behind during the microchip era. Now, as AI driven by data science reshapes the world, we aim to ensure that Africa does not miss   this critical moment.”

Launched on 20th of September, 2024, the platform, also known as AI Afrique, according to the founder will foster relevant connections and effective learning experiences in the field of Artificial Intelligence (AI) and data analysis, by empowering enthusiasts in Africa to be part of the global AI movement.

Explaining how the platform works, Ugboma said: “Mentors choose their areas of expertise, while mentees indicate their interests.”

He stated further that the platform is designed to bring mentees across Africa’s AI ecosystem in contact with experts from within and outside the continent. This, he explained, will promote collaborative growth, support peer connections, and facilitate exchange of knowledge in multiple languages.

While stressing that the platform is designed to engender relevant connections and effective learning experiences in the field of AI and data analysis, Ugboma noted that the system is in-built with a simple questionnaire that helps to select and match mentors, mentees, and peers in the field of AI and data analysis for the best possible and mutually beneficial collaboration.

“Mentees can connect with one another to collaborate, discuss challenges, and explore opportunities to improve their skills.”

Ugboma added that his organisation is focused on “building skills in Adaptive, Predictive, and Generative AI, connecting experts and learners in these cutting-edge fields.”

In addition to inspiring actions towards a deepened AI inclusion in Africa and other developed countries, the platform offers advertising space for academic lectures, educational materials, AI products, and more, giving learners and professionals an easy way to explore and access resources that support their growth.

Ugboma also explained further that his organisation has developed a strategy to sustain its operations by charging a minimal membership fee to all members.

Encouraging interested members of the public to sign up to the platform and benefit from immense opportunities it offers, the AI Afrique CEO said the fee is meant for the maintenance of the ‘platform content, and technical staff. He said the fee charged will ensure the long-term “viability and impact of our initiatives. Our financial platform has been built, tested, and is fully capable of servicing members globally,” he added.

 


Kindly share this post
Continue Reading

News

Unity Bank, ANWBN Empower Women Entrepreneurs with AI, Digital Marketing Skills

Published

on

Kindly share this post

Unity Bank has hosted a capacity-building workshop to support the Association of Nigerian Women in Business Network (ANWBN) in a move aimed at empowering women entrepreneurs with the necessary skills required to thrive in today’s digital economy.

From left: Mrs. Patricia Ahunanya, Chief Compliance Officer, Unity Bank Plc; Nkechinyere Ojiego, General Manager of Simba Group; Mrs. Adenike Abimbola, Divisional Head, Retail and SME Banking, Unity Bank Plc; Angela Ajala, Coordinator, ANWBN and Lady Isioma Fidel-Ewerem, from Women in Renewable Energy at the capacity-building workshop for women entrepreneurs held recently at Unity Bank HQ in Lagos.

The initiative for the workshop stems from the growing advancement in technology and its impact on business hence the theme: “Empowering Women Entrepreneurs: AI and Digital Marketing Strategies,” which sought to equip women with practical knowledge on how to harness the power and take advantage of emerging technology.

As a platform that drew the participation of businesses from diverse sectors, attendees were provided with tools for leveraging digital platforms for expanding market reach, building efficiency in business operations, engaging customers, and increasing brand visibility.

Renowned industry experts and speakers such as Dr. Opeyemi Ojesina, the Chief Executive Officer of Jesshill Consulting, Nkechinyere Ojiego, General Manager, of Simba Group, and Mrs. Adenike Abimbola, Divisional Head, of Retail and SME Banking, Unity Bank Plc, led impactful sessions at the workshop designed to help participants grow their businesses by leveraging cutting-edge technologies and customer-centric marketing strategies

Addressing the media after the event, Mrs. Adenike Abimbola said the capacity-building initiative was inspired by the need to empower women entrepreneurs to take advantage of the growing opportunities presented by the evolving digital marketing landscape.

She said, “The growing digital landscape presents a unique opportunity for women to scale their businesses. There are over 70% of women entrepreneurs in Nigeria who desire this kind of capacity-building programme to improve their businesses, helping them learn how to transition from traditional business methods to one powered by technology, as this will become a differentiator”

While commending the partnership with ANWBN and emphasizing the importance of digital technologies, Mrs. Ambimbola pledged Unity Bank’s commitment to supporting SMEs, adding that the Bank will often pay priority attention to female-led ventures to improve relationships and collaboration with women businesses in Nigeria.

She added: “We are proud of our partnership with ANWBN and the success of this workshop. Empowering women entrepreneurs is key to driving economic growth and ensuring sustainable development. We look forward to more initiatives that support and uplift women in business.”

One of the participants, Mrs. Yetunde Adeniran, a fashion designer, shared her learning experience explaining that with the insights gained here, she has now found more ways of integrating digital technology into many facets of her business. She also highlighted the advantages of Unity Bank’s Yanga Account, which she noted as a crucial tool for small business owners, providing financial support tailored to their specific needs.

In 2022, Unity Bank launched Yanga Account to facilitate financial inclusion for Women. The success of the workshop underscores Unity Bank’s ongoing commitment to supporting female entrepreneurs in Nigeria as the Bank seeks to empower women in business by providing access to valuable resources, financial tools, and educational opportunities that will help them thrive in an increasingly competitive market.


Kindly share this post
Continue Reading

News

DBN, Grand Africa Initiative Partner to Empower 350 Nigerian Women Entrepreneurs

Published

on

Kindly share this post

Development Bank of Nigeria (DBN) and the Grand Africa Initiative (GAIN) have announced the launch of the third edition of the GAIN Entrepreneurship Masterclass for Women in Nigeria.

This transformative initiative is set to empower 350 women entrepreneurs who would be selected from across Nigeria, providing them with essential skills to foster the growth and expansion of their enterprises over a comprehensive six-week training period.

Application for GAIN Entrepreneurship Masterclass for Women (Nigeria)’ opens on September 6, 2024.

The program will include training and mentorship sessions which will be held virtually.

In a joint statement released by DBN and GAIN, it was highlighted that the Women’s Masterclass has been meticulously designed to address the unique challenges faced by female entrepreneurs in Nigeria.

The program will offer targeted support in areas such as financial literacy, strategic marketing, business modeling, legal aspects of business, structure and processes, customer management, business branding and so much more, enabling participants to fully capitalize on the opportunities available in Nigeria’s growing economy.

“At DBN, we believe that women entrepreneurs are crucial to the sustainable development of Nigeria’s economy.

“Our partnership with GAIN reaffirms our commitment to supporting women-led MSMEs by providing them with the necessary tools, knowledge, and financial empowerment to thrive.

“By addressing the specific challenges women face in business, we are creating a more inclusive and resilient entrepreneurial ecosystem.

“Through initiatives like this, we aim to close the gender gap in entrepreneurship, ensuring women entrepreneurs have equal access to resources, training, and financing” said Dr. Tony Okpanachi, Managing Director/CEO of Development Bank of Nigeria.

Janet Oladapo, the Programme Officer for GAIN commented on the continued collaboration with DBN, “We are excited for the impact that this holds as we have seen remarkable success in the previous 4 editions of our entrepreneurial masterclasses, and we are happy to extend this opportunity to more women entrepreneurs in 2024.

“This Masterclass not only offers participants high-quality training; it also provides them with opportunities to network, receive guidance from seasoned global mentors, and acquire the comprehensive knowledge needed to drive substantial growth in their businesses.”

The Entrepreneurship Masterclass aligns with the broader missions of both GAIN and DBN. Both partners remain committed to empowering African youths and women by providing them with skills and resources necessary to drive sustainable economic development across the continent.

DBN, on the other hand, continues to support Nigeria’s micro, small, and medium enterprises (MSMEs) by alleviating financing constraints and creating an enabling environment for their growth. Applicants can apply online via: https://bit.ly/GAIN-DBN


Kindly share this post
Continue Reading

Trending