E-Financial
MasterCard Collaborates with FNB to Offer Multi-Currency Cash Passport

MasterCard’s subsidiary, Access Prepaid Worldwide, in collaboration with First National Bank (FNB) introduced the MasterCard Multi-currency Cash PassportTM to customers, promising a safer and more convenient alternative to foreign currency notes when travelling.
The Chip and PIN protected travel payment card is secure and easy to use and can be loaded with up to four currencies (Euros, Pound Sterling, US Dollars and Australian Dollars) on a single card.
The Multi-currency Cash Passport can be loaded before departure, and while travelling, with any one or all of the four available currencies.
The cardholder can then use the card globally to pay for goods and services at millions of merchant locations or withdraw cash from ATMs wherever the MasterCard Acceptance Mark is displayed.
“We chose the MasterCard Multi-currency Cash Passport as the best way to address the needs of our travelling customers who can now load four different currencies in one card,” said Vicky Ratshefola, CEO of FNB Forex.
“The MasterCard Multi-Currency Cash Passport is Chip and PIN enabled, which significantly improves our clients’ travel experience by giving them one secure, simple and effective way to pay anywhere in the world” she said.
MasterCard said in a statement on Thursday that using the Multi-currency Cash Passport means travellers lock-in the exchange rate for each currency so they can better plan what they have to spend.
If travellers use all of their funds on the MasterCard Multi-currency Cash Passport while abroad, they can easily reload their card with more currency telephonically during South African business hours.
“The enhancement of being able to reload currencies while abroad is a key advantage for travellers. It adds an additional level of convenience and flexibility, and ensures they never run out of funds while travelling,” said Rajeev Kumar, regional director for Middle East and Africa, Access Prepaid Worldwide. “What’s more, because the card is valid for up to five years and can be reloaded easily, it can be used for multiple trips so that it becomes an essential travel companion.”
An important feature of the MasterCard Multi-currency Cash Passport is its ability to move between available currencies if there are insufficient funds available in the chosen payment currency.
If the cardholder does not have the currency of the country they are visiting loaded on their card, they can still use it to make a payment.
The Multi-currency Cash Passport will automatically convert the local currency of the purchase to one of the other currencies loaded onto the card.
E-Financial
Senate Passes Harmonised Report on Tax Reform Bills

The Senate on Wednesday adopted the harmonised conference committee report on the four tax reform bills.
The resolution of the Senate followed its consideration and approval of the recommendations of the conference committee of both chambers set up to harmonize the Bills.
The Chairman of the Senate Committee on Finance and leader of the Senate delegation in the conference committee, Senator Mohammed Sani Musa, presented the report.
The four tax reforms Bills which were transmitted to the National Assembly in November last year by President Bola Ahmed Tinubu include: The Joint Revenue Board (Establishment) Bill, 2025 (SB. 583); Nigeria Revenue Service (Establishment) Bill, 2025 (SB. 584); Nigeria Tax Administration Bill, 2025 (SB. 585); and Nigeria Tax Bill, 2025 (SB. 586).
E-Financial
Fidelity Bank Plc Wins 2025 DBN Innovation Award for MSME Support

In recognition of its exceptional contributions to innovative financial solutions for Micro, Small, and Medium Enterprises (MSMEs), Fidelity Bank Plc has been awarded the 2025 Development Bank of Nigeria (DBN) Innovation Award in the Deposit Money Bank (DMB) category.
This prestigious accolade celebrates Fidelity Bank’s commitment to addressing the unique challenges faced by MSMEs, a vital segment in Nigeria’s economic growth.
Dr. Nneka Onyeali-Ikpe, MD/CEO of Fidelity Bank Plc, commented on the award, reaffirming the bank’s dedication to empowering Nigerian entrepreneurs: “At Fidelity Bank, innovation is at the heart of our strategy to support MSMEs.
“This recognition underscores our commitment to developing scalable, inclusive, and technology-driven financial solutions that create positive outcomes for our nation’s entrepreneurs. We are honored to receive the DBN award and dedicate it to our loyal customers for their continued support.”
The award was presented at the 2025 Service Ambassadors’ Awards ceremony in Lagos, themed ‘Enhancing Partnership for MSME Resilience and Growth.’ Tony Okpanachi, Managing Director of DBN, emphasized the importance of financial institutions in transforming unbankable ideas into viable businesses through advisory services.
“You, our partners, are acknowledged and celebrated for your outreach to entrepreneurs and businesses seeking to scale. We appreciate you for your role in converting unbankable ideas into bankable businesses,” Okpanachi stated.
He noted that the award aims to recognize partners who make a significant impact, focusing on storytelling and the positive changes they bring to Nigeria.
This award joins a series of landmark initiatives by Fidelity Bank aimed at supporting MSMEs. Earlier in May, the bank signed a Memorandum of Understanding (MOU) with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to facilitate the expansion of Nigerian MSMEs across Africa.
Additionally, Fidelity Bank launched the Fidelity SME Hub in Gbagada, Lagos—a multifunctional facility equipped with training halls, meeting rooms, networking spaces, and studios for music, photography, and content production.
This hub is designed to foster innovation, collaboration, and capacity-building, essential elements for strengthening Nigeria’s SME ecosystem and driving economic growth.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
E-Financial
UBA Launches *919# Advance Top-Up Feature for Instant Access to Customers

United Bank for Africa (UBA) Plc, Africa’s Global Bank, has launched a new feature called Advance Top-Up on its USSD banking platform *919#, which is designed to provide instant access to airtime and data for its customers especially when they are out of call credit or disconnected from the internet.
The new feature which was unveiled at the UBA head office in Marina recently, allows customers to borrow airtime or data directly from their mobile devices, offering a fast, dependable solution.
Shamsideen Fashola, group head, Retail and Digital Banking, UBA, who spoke during the official launch, described the feature as a timely addition to the bank’s digital offerings and a testament to the its customer-first approach.
“At UBA, we are constantly looking for ways to make banking and everyday services more accessible for our customers. With the launch of Advance Top-Up on our USSD platform, *919#, we are giving our customers the power to stay connected without interruption, regardless of time, location, or airtime balance,” Shamsideen said.
UBA’s Advance Top-Up which is now live on *919#, joins a wide range of services on the platform, which include airtime and data purchases, money transfers to UBA and other banks, account balance checks, card blocking and freezing, online transaction controls, bill payments, and more.
Fashola emphasised the simplicity and convenience of the solution, adding that “You don’t need to download an app or visit a data centre. Just dial *919#, follow the prompt, and you’re immediately connected. It’s simple, fast, and reliable.”
Alero Ladipo, Bank’s Group Head, Marketing and Corporate Communication, added that the feature was developed based on real feedback from customers and their evolving needs.
“Our users asked for a way to stay connected when they have no airtime, and as always, we have come up with a quick solution, right there on their phones, instantly, with no fuss, and no need for internet connectivity. Whether for emergency communications or business continuity, *919# puts instant connectivity in every customer’s hands,” she explained.
She explained that only recently, the bank unveiled its newly improved Point of Sale (POS) Terminal as well as the UBA MONI App to redefine the digital payment landscape and empower small and Medium Scale Enterprises across Africa.
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