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Removal of ATM Charges to Wait Till May Next Year

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The removal of charges on Automated Teller Machine (ATM) for inter-bank withdrawals would only be possible from the second quarter of next year because enormous works are still required to implement the agreement of the Bankers’ Committee, Nigeria CommunicationsWeek can now reveal.

Bankers’ Committee, a regular and compulsory meeting between the Central Bank of Nigeria (CBN) and all the managing directors of commercial banks operating in Nigeria had in November agreed to remove the N100 ATM inter-bank charge.

After the initial jubilation that greeted the removal of the charges, various reasons have been advanced by both banks and switching companies why the implementation would not be effected immediately.

Image-makers of banks under the aegis Association of Corporate Affairs Managers of Banks (ACAMB) said that the banks would strive to remove impediments towards the scrapping of the charge.

Mr. Tunde Sofowora, president, ACAMB said that  “The rough edges will be smoothened in a few days and customers will enjoy this,” new freedom of using ATM charge.”

He urged customers to be patient to allow banks to work out modalities with third party service providers on implementing the scrapping.

Elsewhere,  Ugo Okoroafor, director, Corporate Affairs, CBN said the apex bank would continue to remind the banks to honour their decision and encourage them to abide by it in the interest of the customers.

He said that the directive was not directly from the CBN but “they thought it wise to scrap the charges.”

Nigeria CommunicationsWeek gathered however that the Bankers’ committee has just constituted a smaller committee that will work out the modalities for the implementation of the removal of the ATM charges.

The committee has just settled down to work and this forecloses any hope of implementing the removal of the charges this year.

The committee is expected to work out how to pay for charges accruing to switching companies which are not members of the Bankers’ committee as well as other charges involved in the process of such transactions.

Nigeria CommunicationsWeek  also gathered that going by the scope of work that the committee has been saddled with ,it is expected to conclude its work by the end of first quarter of 2013, while the full implementation will commence by second quarter when it must have been approved.

Inter-bank transactions on the ATM cost the cardholder making the withdrawal N100 per transactions, while intra-bank withdrawals are not charged by some banks.

Nigeria CommunicationsWeek investigations revealed that the N100 charge for the inter-bank withdrawals from the machine is shared among three parties in the transactions which included, the bank that issued the card, the bank that owns the ATM both shares N65 while the switching company that provided the platform that coordinated the handshake gets N35.

The major obstacle to the implementation of this directive, it was learnt is how the pay switching companies that provided the platform upon which the transaction was carried out.

It would be recalled Bisi Onasanya, managing director, First Bank, who was flanked by Agnes Olatokunbo, CBN Director of Banking Supervision, Emeka Emua, Group Managing Director, Union Bank and Shehu Mohammed, Acting Managing Director of Keystone Bank, had said the bankers agreed to start bearing the N100 cost rather than leaving it for customers to pay.

He said the committee would schedule subsequent meetings and work out modalities that will make commercial banks bear the cost, adding that the decision was in line with global best practice.


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NIPOST to Crack Down on Criminal Courier Operators

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Nigerian Postal Service (NIPOST) has vowed to clamp down on courier companies found to be aiding the trafficking of drugs and other illicit items through the country’s logistics network.

NIPOST to Crack Down on Criminal Courier Operators

In a statement issued on by Franklin Alao, director of Corporate Communications,  NIPOST expressed outrage over a recent report in some newspapers with the headline: “Nigerian courier services easily transporting hard drugs since Tinubu became president – NIPOST.”

The agency described the headline as false, misleading, and damaging to national security efforts. According to NIPOST, the article falsely attributes the claim to the postal regulator, thereby creating the impression that the agency had endorsed or confirmed such allegations.

“This is categorically FALSE,” the statement said. “At no point has NIPOST made such a statement or associated these activities with the administration of President Bola Ahmed Tinubu.”

NIPOST maintained that while it respects the role of the media in promoting accountability and transparency, the publication in question was reckless and sensational.

It warned that inaccurate reporting on sensitive national issues like drug trafficking not only misinforms the public but also undermines the collaborative work being done to sanitise the courier and logistics sector.

Restating its position, the agency said it strongly condemns the use of courier services for criminal purposes, including drug trafficking.

It reaffirmed its zero-tolerance policy toward the misuse of Nigeria’s postal infrastructure and said it remained committed to regulating the sector with integrity, transparency, and accountability.

NIPOST noted that it had embarked on a range of interventions aimed at improving surveillance and enforcement across the logistics industry.

It stated that all courier operators are currently undergoing a revalidation process and that Know-Your-Customer protocols and compliance audits are being enforced to tighten controls and prevent abuse of the system.

The postal regulator said it is also working closely with the National Drug Law Enforcement Agency, the Nigeria Police Force, the Nigerian Customs Service, and other relevant security institutions to investigate and deter the use of logistics channels for the transportation of narcotics and other contraband items.

In addition, NIPOST said it had intensified engagement with courier operators, transport unions, and logistics associations to promote sector-wide vigilance and encourage the reporting of suspicious packages.

It also revealed that a new Digital Postcode and Parcel Identification System is being deployed nationwide to enhance traceability, eliminate anonymity, and improve parcel screening from the point of dispatch to final delivery.

“The Nigerian Postal Service is fully committed to restoring the integrity of Nigeria’s courier and logistics industry,” the statement said. “Any operator found to be involved in criminal activity will face immediate regulatory sanctions, including license suspension or revocation, and be reported to appropriate authorities for prosecution.”

The agency urged members of the public to use only licensed courier companies and to report any suspicious activity either to NIPOST or relevant security agencies.

It also called on journalists and civil society groups to approach issues in the sector with accuracy, caution, and a shared sense of responsibility.

 

 

 


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DICON, Saudi Firm to Produce Drones, Satellites in Nigeria

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Defence Industries Corporation of Nigeria (DICON) has entered into a Memorandum of Understanding (MoU) with Homeland Protectors and Supplies Limited, a Saudi Arabia-based security company, to begin local manufacturing of drones, satellite systems, and advanced communication equipment.

DICON, Saudi Firm to Produce Drones, Satellites in Nigeria

The agreement, which was signed at DICON headquarters in Kaduna, will see Homeland Protectors bring in production lines and technology to Nigeria to manufacture satellite systems, laser equipment, border security drones, and sophisticated communications solutions.

Major General Babatunde Ibrahim Alaya, director general of DICON, shortly after signing the MoU, described the deal as a “major milestone” in Nigeria’s drive for defence self-sufficiency.

He said the collaboration would not only meet local demands but also position Nigeria as an exporter of security technology to other African countries.

According to him: “Today is another milestone for DICON. What Homeland Protectors is bringing on board is expertise and experience in the field of satellite, laser systems, communications, and border security drones.

The agreement we have just signed is for them to bring the production line to Nigeria and start producing here, so we can satisfy the defence industry requirements, other security agencies, and export the excess capacity to other African countries.”

He expressed profound appreciation to President Bola Ahmed Tinubu for what he called his “constant support and firm belief in DICON,” especially for signing the DICON Act 2023, which has now paved the way for international partnerships of this magnitude.

Alaya also thanked the Minister of Defence and Minister of State for Defence for their unwavering backing, stressing that their support made the joint venture possible.

Mr. Ali Hussain A. Aldayhani, managing director and chief executive officer, Homeland Protectors and Supplies,  who led the Saudi delegation to Nigeria, hailed the partnership as a game-changer for Nigeria’s security architecture.

“I am in support of this amazing job today in collaboration with Homeland and DICON. This is in support of the Nigerian President and the Minister of Defence to bring security satellite communication technology to Nigeria,” he said.

He disclosed that the venture was designed not only to meet Nigeria’s internal needs but also to open up export opportunities to other markets, stressing: “We are going to have a huge joint venture and also for export outside Nigeria with regard to technology communication.”

The Homeland CEO thanked the DICON Director General for what he called “the support of the huge success in signing the Memorandum of Understanding (MoU).”

He assured that this would not be the last of such engagements, promising more frequent visits and deeper collaborations in the near future.

With this move, Nigeria joins a select group of countries on the continent working to domesticate critical security manufacturing — a step expected to save foreign exchange, create jobs, and bolster national security.

 


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FG Says No Going Back to Nuclear Testing

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Vice President Kashim Shettima has affirmed Nigeria’s unwavering stance against nuclear weapons testing.

FG Says No Going Back to Nuclear Testing

He made this known during a meeting at the Presidential Villa with a delegation from the Comprehensive Nuclear-Test-Ban Treaty Organisation (CTBTO), led by Dr Robert Floyd, executive secretary.

According to Shettima, Nigeria, like many other African nations, is grappling with numerous socio-economic challenges, including widespread poverty and the adverse impacts of climate change.

He stressed that Africa’s immediate priority is to confront these existential threats, not to engage in the pursuit of nuclear weapons capability.

“The outcome of any nuclear conflict is never a win-win situation; it is always the opposite. We are fighting poverty; we are fighting a war against the relationship between the economy and ecology in sub-Saharan Africa. We have no business dabbling in anything that has to do with nuclear weapons,” he said.

The Vice President also commended CTBTO for its broader civilian contributions, such as detecting tsunamis and seismic volcanic activity, and for supporting global ecological stability.


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