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E-Financial

Go Beyond Banking, Do Everything and More with the AccessMore app

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The last time a family member of mine booked a plane ticket they had to go to the airport to do it. Imagine if you could book international flights from the comfort of your hands.

Imagine being able to send money to someone in the UK from your Nigerian account directly into their UK account or even converting dollars to naira easily on your bank app. These features and more are what Access Bank is offering through the newly launched Access More app.

Beyond just banking

AccessMore is a state-of-the-art, mobile banking application offering a wide range of financial solutions, tailored and personalized services, and excellent customer experience.

With five million downloads and counting, the Access More app is more than just a banking app, it is tailored to fit around customer lifestyle needs and is packed full of essential banking features to improve the lives of its users.

With growing internet access on the African continent and a large youth population, many individuals are seeking better financial options and a large percentage of people would like more tailored and globally useful banking products.

With Access More, Access Bank has set out to offer its customers the efficiency of modern banking from the convenience of their phones.

Some of the standout features on the app include;

  • Better account management

On this app, customers get instant and direct access to their account officer.  This gives customers a direct line to resolve whatever issues they may encounter. You can rate your account officer and change them if you want. Traditional banking services are also more accessible through this app. Users can perform regular banking functions and also get e-reference letters and request account statements.

Transfers

This is one feature that customers will be delighted to explore on this app. The AccessAfrica feature of the Access More app allows users to make foreign currency transactions seamlessly.

Customers can make transfers from their Access account directly to a foreign bank account in either local currency or the US dollar.

They can also convert their FX to naira on the app effortlessly, create e-naira wallets, or add existing wallets. Intra-bank and Inter-bank transfers and transactions are also faster and easier on this app.

More Payment options

AccessMore has made sending and receiving payments better by giving users multiple methods to do this

With AccessMore you can;

  • Generate personal QR codes to send and receive payments.
  • Send and receive money via bluetooth with nearby devices.
  • Pay using Breezepay.
  • Make cardless withdrawals at ATMs.
  • Send split payments to multiple recipients in one transaction. (Split payment is more of sharing payment among multiple payers to one beneficiary, more like splitting payment like t-fare, or restaurant/food bill among friends)

All these payment features make it easier for business owners and individuals to perform the most essential banking transactions and it also creates better payment avenues for them.

One other very interesting feature on the app is the gift cards (e-voucher). Electronic voucher market has seen a steady growth in Nigeria, on Access more, you can get a gift card for Amazon, Apple, Primark, Airbnb, Express, Tripgift and many more

Bill payment

With this app, paying bills is better, more convenient, and more reliable. You can buy data and airtime both locally and internationally on this app. One notable feature of paying bills on this app is the tuition payment feature.

Currently, students in Nigeria can pay school fees on the app and students of Cranfield University in the UK also have access to this feature.

Users can pay all types of utility bills directly from this app which also includes religious bills, like tithe and other payments to religious bodies. It also includes transport tolls and customs duties, making it easier to conduct both public and private business efficiently.

Loans

Users with active loans or who have requested a loan can view their loan status on the app. Access Bank offers salary advance loans, and also personal and business loan options with competitive interest rates and quick processing times.

Cards

All types of cards are accessible through this app. You can request for a credit, debit, or virtual card. (You can also activate or block your card on the app) Users can also manage their cheques on this app including requesting for, stopping, or confirming a cheque.

Additional features on this app include being able to make payment for leisure activities like event tickets and betting. You can plan your life better with access to quick and easy insurance, pension payments, group contributions on e-susu, and more.

Customers can also comfortably make fixed investments on their accounts through this app. (You can buy and sell shares on the app and also manage your stock potifolio) Overall, the banking features on this app make an improved financial lifestyle more accessible to Access Bank customers.

Access Bank is known for its diverse financial options tailored to meet the varied needs of its customers. This AccessMore app is its way of continuing to leave up to this goal. Access More packs a multitude of essential features into a user-friendly and highly secure mobile app. All these features provide more financial accessibility and security to Nigerians.

The Access More app is available for download on the Android PlayStore and iOS Store. For more information on Access Bank and its Access More products, contact the bank here.

 

 


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E-Financial

Panic as Hackers Allegedly Steal N9.3Bn Customers’ Fund from Union Bank

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Yetunde Oni, MD/CEO, Union Bank
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Union Bank of Nigeria Plc is facing a major financial scandal after hackers reportedly siphoned N9.3 billion from multiple customer accounts.

The breach, which occurred on March 23, 2025, has led to an urgent legal battle as the bank seeks to freeze accounts suspected of receiving the stolen funds.

Court filings reveal that the cybercriminals exploited a critical system glitch, discreetly transferring the money in small amounts across 54 financial institutions to evade detection.

Oluwasegun Falola, Union Bank’s Head of E-Fraud Investigations, confirmed that tracking the transactions has been challenging due to their fragmented nature.

Acting swiftly, the bank filed a lawsuit (FHC/L/CS/629/2025) at the Federal High Court in Lagos, requesting an emergency order to halt further withdrawals. On April 2, 2025, the bank’s legal team, led by A. Adedoyin-Adeniyi, informed the court that the stolen funds were still being actively moved—suggesting an ongoing laundering operation.

In response, Justice Deinde Dipeolu granted a Post No Debit (PND) order, freezing all implicated accounts pending further investigation.

This crisis comes just 15 months after the Central Bank of Nigeria (CBN) dissolved Union Bank’s former board over governance failures. Under the leadership of MD Yetunde Oni, the bank now faces intense scrutiny as customers demand accountability.


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E-Financial

CBN Urges Banks to Source FX for PAPSS Settlement Through NFEM

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The Central Bank of Nigeria (CBN) has announced a comprehensive review of documentation requirements for transactions processed through the Pan-African Payment and Settlement System (PAPSS), aimed at enhancing intra-African trade, promoting financial inclusion, and improving operational efficiency for cross-border payments within Africa.

In a press release issued on Monday, the CBN outlined key updates to the documentation framework in a circular addressed to Authorised Dealer Banks (ADBs) and the general public.

The revised guidelines are part of the CBN’s ongoing efforts to streamline processes and support seamless financial transactions across the continent.

Under the new framework, individuals conducting low-value transactions up to USD 2,000 equivalent in naira and corporates transacting up to USD 5,000 equivalent in naira can now rely on basic Know-Your-Customer (KYC) and Anti-Money Laundering (AML) documents already provided to their ADBs.

This measure simplifies compliance requirements for smaller transactions and reduces administrative burdens.

For transactions exceeding the specified thresholds, parties must comply with the full documentation requirements as outlined in the CBN Foreign Exchange Manual and related circulars to ensure regulatory compliance.

Applicants are also responsible for ensuring that all necessary regulatory documents are available to facilitate the clearance of goods as mandated by relevant government agencies.

The new policy permits ADBs to source foreign exchange for PAPSS settlements directly from the Nigerian Foreign Exchange Market, eliminating the previous requirement to obtain forex directly from the CBN.

Additionally, all export proceeds repatriated via PAPSS must be certified by the relevant processing banks to promote transparency and regulatory adherence.

The CBN urged all ADBs to adopt PAPSS and commence originating transactions in accordance with the updated policy.

Exporters, importers, and individuals were encouraged to familiarize themselves with the new requirements and leverage PAPSS for efficient cross-border transactions across Africa.


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E-Financial

FIRS Orders Banks to Close Unauthorised Tax Collection Accounts

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The Federal Inland Revenue Service has directed banks across the country to immediately identify and close any tax and levy collection accounts not authorised under its TaxPro Max platform.

The directive, aimed at promoting transparency and ensuring uniformity in tax collection, was disclosed in a public notice titled “Directive to close unauthorised FIRS tax collection accounts,” issued by the FIRS Chairman, Zacch Adedeji, and circulated to journalists on Monday by his Special Adviser on Media, Dare Adekanmbi.

According to the notice, all tax and levy collections must now be processed exclusively through assessments generated on the TaxPro Max system.

The FIRS warned that all banks participating in its collection, remittance, and reconciliation scheme must comply without delay, discontinue the use of unauthorised accounts, and ensure only transactions initiated from the TaxPro Max platform are processed.

“We count on your cooperation to ensure a smooth transition to this centralised system, thereby contributing to a more transparent and efficient tax collection process,” the agency stated.

Developed locally, the TaxPro Max platform facilitates key tax activities such as taxpayer registration, filing of returns, payment processing, and the issuance of tax clearance certificates.

It was introduced to streamline tax administration and support the FIRS’s broader digitalisation agenda.

The agency also urged taxpayers and stakeholders seeking clarification to contact its Revenue Accounting and Refund Department.


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