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UBA Commits To Creating Superior Value For Customers, Launches Self-Printing Debit Card Machine At Flag Off Of Trade Fair

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Pan African financial institution, United Bank for Africa (UBA) have announced that it is committed to continued investment in cutting edge technology for efficient and improved service delivery to its customers and by extension the business community.

The Chief Executive Officer, UBA Africa, Victor Osadolor, made the disclosure during a well-attended flag-off ceremony of the 2019 Lagos International Trade Fair (LITF), in which UBA is the headline sponsor. The event, which held at the Tafawa Balewa Square, had in attendance distinguished guests, including the Deputy Governor, of Lagos State, Mr. Obafemi Hamzat; President, Lagos Chamber of Commerce and Industry, Babatunde Paul Ruwase; Minister of State for Industry, Trade and Investment, Hajia Mariam Katagum; Commissioner for Commerce, Industry and Cooperatives, Lagos State, Lola Akande amongst others, Special Adviser to Lagos State Governor on Commerce, Industry, and cooperatives, Ajayi Oladele, among others.

Osadolor used the occasion to launch another first of its kind in Nigeria’s financial sector, from UBA, called self-printing debit card machine, targeted at encouraging increased use of debit cards which also offers more options to pay.

The new self-printing debit card machine will allow for seamless business transactions with great value to customers and businesses.

He stated that that there is no gainsaying that the world is tilting into a knowledge-based economy, adding that businesses that would survive in the 21st century must invest in technology to remain competitive.

He also commended the federal government’s efforts at improving the nation’s investment climate, saying this is the reason the country is currently ranked fifteen places upwards in the global ease of doing business index.

He also added that the bank would continue to support initiatives aimed at boosting trade in the country.

On delivery of its brand promise, he said, “We are creating superior value for all our customers because we believe they are key to our everyday operations.”

He further said, the bank’s small and medium scale enterprise banking unit has been actively supporting small businesses with

industry-specific loans that ensure maximum impact.

According to Osadolor, UBA also keys into government intervention funds to expand access to credit facilities at competitive interest rates, while providing services such as advisory and technological infrastructure that help to reduce the cost of doing business.

“Most of our customers have enjoyed free advisory services that have helped them navigate the very difficult business terrain. We also have businesses, latching on to our technological assets to improve their services as well as foster growth”

Osadolor restated UBA’s commitment to continue investing heavily in technology to remain a pillar to millions of businesses that have not only chosen to bank with UBA but have also partnered the bank for growth.

“We are consistently supporting our SMEs. We have a huge amount of funds allocated to SMEs. UBA is committed to supporting entrepreneurship. We are the major promoter of the Fair. The new self-printing debit card machine will go along way in allowing for seamless business transactions with attendant value to businesses.

He stated that: “At UBA, we are committed to being role models for African businesses by creating superior value for all the stakeholders. Therefore we have over the years recorded increased growth”.

Earlier, the Governor of Lagos State, Babajide Sanwo-Olu, represented by the Deputy Governor, Lagos State, Dr. Obafemi Hamzat, said the State’s commitment to promoting and connecting businesses across transnational borders, remains strong and unshaken.

“We shall leave no stone unturned to ensure that Lagos State truly becomes a 21st-century economy which actively supports the growth of the local economy through improved ease of doing business initiatives, innovative incentives and interventions as well as quality service delivery to a well-motivated public,” he said.

On his part, the President of LCCI, Mr. Babatunde Ruwase said the theme of this year’s fair underscores the importance of robust business interaction to generate wealth and create value for the advancement of the Nigerian economy and the welfare of the citizens.

Ruwase said, “Creating a platform to promote trade and bilateral relations is of utmost importance to the LCCI.

“In UBA, we have chosen a suitable partner with extensive reach on the continent with the capacity to engineer a seamless financial transaction required for an international trade fair of this magnitude,” he said.

Speaking further on the partnership with UBA, he said: “The LCCI and UBA have partnered to give exciting services to visitors and exhibitors at the fair.

UBA is a foremost Pan African financial institution operating in 20 African countries, including the United Kingdom, the USA, and France, thus offering unique services to the delight of visitors and exhibitors during the fair. This tells you that, we are more than committed to ensuring the business environment is beneficial for all investors.

“As a policy advocacy group, our programmes and activities are geared towards facilitating the realization of the economic and social objectives of the government and making Nigeria an attractive destination for investment.

“Our economic and investment policies must be friendly to make Nigeria a major investment hub in Africa. ”

He said Nigeria needs the right policies as well as a strong commitment to infrastructure development that will help revive investors’ confidence in its economy.

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Nigerian Government Drops Money Laundering, Cyberstalking Charges Against Sowore, Accuses Him Of Attempting To Pull Down Buhari’s Government In Fresh Charge

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The Nigerian Government has amended the charges brought against rights activist and journalist, Omoyele Sowore, by dropping money laundering and cyberstalking from the case.

Counsel to the government, A. Aliyu, informed Justice Ijeoma Ojukwu of the Federal High Court, Abuja, of the development on Wednesday during the resumption of the trial, which was later adjourned until Thursday to accommodate the new charge against the defendant.

As a result, the Nigerian Government is now accusing Sowore of attempting to overthrow the administration of President Muhammadu Buhari through revolution.

The fresh charge reads, “That you Omoyele Stephen Sowore, Olawale Adebayo Bakare and others at large under the aegis of Coalition for Revolution sometimes in August 2019 in Abuja, Lagos, and other parts of Nigeria within the jurisdiction of this honourable court did conspire amongst yourselves to stage a revolution campaign on the 5th day of August 2019 tagged #RevolutionNow aimed at removing the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria during his term of office otherwise than by constitutional means.”

Recall that the government through the Department of State Services had on August 3 and 5, 2019 respectively arrested Sowore and Bakare in Lagos and Osun states for calling on Nigerians to take to the streets in peaceful demonstrations to demand a better country from the administration of President Buhari.

They were eventually released on bail in December after months of unlawful detention.

During proceedings on Wednesday, Justice Ojukwu ordered the Nigerian Government to pay Sowore and Bakare N200,000 each for the unnecessary delay in their trials.

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VIDEO: Seasons Greetings From Zenith Bank

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May the Blessings of this Season fill your home with joy, your heart with love and usher in a prosperous new year.

Zenith Bank wishes all its esteemed customers Merry Christmas and a prosperous new year.

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CBN To Nigerians: Don’t Pay N50 Charges On PoS Transactions [VIDEO]

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The Central Bank of Nigeria has clarified the issue of payments of N50 charges by merchants who use Point of Sale machines for cashless transactions, insisting that nobody should pay extra on goods and services.

The CBN explained that the N50 stamp duty is a fee regulated by an act that directs merchants to pay all necessary taxes as regulated by government agencies.

Speaking on Channels Television’s Business Morning programme, the CBN Director of Payment System Management, Musa Jimoh, said the apex bank issued a circular and merchants have misinterpreted the directive.

Jimoh said: “Stamp duty has been misinterpreted, our circular that talks about merchants paying stamp duties according to the law do not say that the stamp duty should be paid by the consumer; that is a misrepresentation of CBN directive.

“What our directive says is that merchants should pay all necessary tax as regulated by government agencies, including stamp duty.

“What we told the merchants is that we would like the banks to ensure that the merchants comply with this directive by ensuring that every single payment that customers make to them, the merchants pay the regulated stamp duty of N50.

“What has happened is that they have actually transferred this fee blatantly and openly to the consumers; this is very wrong.

“No single individual should pay N50 in addition to the cost of the goods.

“Stamp duty is not to be paid by individuals that are consuming the goods and services of the merchants.

“The merchants who are receiving the money are the ones who are supposed to pay.”

Jimoh explained that because the stamp duty is not regulated by the CBN, there are no plans to stop stamp duties.

He said: “Stamp duty is not a CBN regulated fee.

“It is a fee regulated by an act and so we can’t change or push anything in that direction.

“To this end, the stamp duty remains and cannot be changed by the CBN.

“What we are doing is to ensure that the institutions we regulate (the banks) become more responsible to ensure that these fees are collected and given to the government.”

 

Video Credit: Channels TV

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