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Access Bank Launches Awareness Campaign To Combat E-Banking Fraud

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As part of its continued commitment to educate and protect customers from e-banking fraud, Africa’s largest retail bank, Access Bank Plc, has launched an awareness campaign aimed at sensitizing customers on measures they can take to protect themselves.

The campaign, themed ‘Banks Don’t Ask’, focuses on three key activities that account for most fraud incidents in Nigeria, phishing, SIM card fraud, ATM fraud, and POS fraud.

From all indications, the rates of phishing, SIM card fraud, ATM fraud, and POS fraud in the country have tripled in the past few years. Also, the sophistication with which these activities are carried out has evolved, resulting in unsuspecting customers being highly susceptible to these criminal activities.

Victor Etuokwu, ED Retail Banking stated, “In the past few years, there has been a significant increase in the rate of internet-based and technology-perpetrated fraud”. He added “We want to ensure that our customers are not only protected but are also aware of the tactics employed by fraudsters. Access Bank will never request personal banking information such as your 16-digit card number, password, PIN, BVN, CVV, or One-Time Password (OTP). So, customers are also advised to never share this information with anyone even if they claim to be from the Bank”.

To report suspicious activities (phone calls, emails or text messages), customers can call Access Bank on 01- 2712005 or send a mail to [email protected]. To prevent SIM card fraud in cases of lost or stolen devices, customers can simply *901*911# from any phone deactivate their USSD profile.

BUSINESS

Turkey Requests Inclusion In Nigeria’s E-Visa System To Ease Business Travel

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Turkey has asked Nigeria to include its citizens in the country’s electronic visa (e-visa) system to simplify visa processing and strengthen bilateral ties.

Mehmet Poroy, the Turkish ambassador, made the request when he met Olubunmi Tunji-Ojo, Nigeria’s minister of interior, in Abuja on Tuesday.

In a statement issued on Tuesday, Mary Ali, the ministry’s head of press and public relations, said Mehmet sought Turkey’s inclusion in the system to ease business travel for Turkish investors.

According to Ali, the ambassador explained that the absence of a Nigerian visa office in Istanbul poses logistical challenges for Turkish applicants, who must travel to Ankara to complete visa processes.

“Tunji-Ojo assured that denying visas to genuine Nigerian or Turkish businesspeople is not in the interest of either country,” the statement reads.

“He emphasised the Ministry’s commitment to transparency, dialogue, and continuous improvement in visa administration, while reaffirming Nigeria’s openness to legitimate investors and international business partners.”

The ministry’s spokesperson said the minister and the ambassador also discussed faster visa processing for Nigerian business travellers to Turkey, concerns over visa clarity for Turkish investors visiting Nigeria, and verification of documents, including marriage certificates.

She said Tunji-Ojo clarified that all marriage certificates issued under Nigerian law are constitutionally valid and should not require additional verification.

Both sides reaffirmed commitments to transparent, practical visa policies, openness to legitimate investors, and broader diplomatic cooperation.

In November, Poroy said Ankara authorised its embassy in Abuja to issue visas directly to Nigerian business travellers without seeking clearance from Turkey.

He said the step was a major boost for economic cooperation between both countries.

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BUSINESS

World Bank Raises Nigeria’s 2026 Economic Growth Rate Projection To 4.4%

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The World Bank has increased its projection for Nigeria’s economic growth rate for 2026 to 4.4 percent from the 3.7 percent forecasted in June 2025.

World Bank announced the increase in its 2026 ‘Global Economic Prospects’ report on Tuesday.

The global financial institution also upgraded Nigeria’s economic growth rate for 2027 to 4.4 percent from 3.8 percent.

In addition, the Bretton Woods institution estimated that Nigeria’s economy grew by 4.2 percent in 2025, compared to the 3.6 percent forecasted in June last year.

Also, the World Bank increased its 2026 global economic growth rate projection from 2.4 percent to 2.6 percent.

In the report, the financial institution also estimated a 2.7 percent economic growth rate for the 2025 period compared to the 2.3 percent forecasted in June last year.

According to the report, the 2027 global economic growth rate is projected at 2.7 percent, compared to the 2.6 percent forecasted in June 2025.

World Bank said the global economy is proving more resilient than anticipated despite persistent trade tensions and policy uncertainty.

However, the bank noted that while global growth remains stable, it is concentrated in advanced economies and is unlikely to reduce extreme poverty, with the 2020s on track to be the weakest decade since the 1960s.

“The resilience reflects better-than-expected growth — especially in the United States, which accounts for about two-thirds of the upward revision to the forecast in 2026,” the World Bank said.

The institution stated that global growth is expected to slow in 2026 as trade-related boosts fade, but easing financial conditions and fiscal expansion are anticipated to mitigate the impact.

It added that inflation is projected to edge down to 2.6 percent in 2026, with growth expected to pick up in 2027 as trade and policy uncertainty ease.

Indermit Gill, the World Bank Group’s chief economist, said with each passing year, the global economy has become less capable of generating growth while appearing more resilient to policy uncertainty.

“But economic dynamism and resilience cannot diverge for long without fracturing public finance and credit markets,” Gill said.

“Over the coming years, the world economy is set to grow slower than it did in the troubled 1990s, while carrying record levels of public and private debt.

“To avert stagnation and joblessness, governments in emerging and advanced economies must aggressively liberalise private investment and trade, rein in public consumption, and invest in new technologies and education.”

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Wema Bank Launches the Upgraded Version of ALAT Banking App, Introduces Voice Banking, Tap and Pay

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Wema Bank, Nigeria’s most innovative bank and pioneer of Africa’s first fully digital bank, ALAT, has launched the upgraded version of its flagship digital banking platform, ALAT by Wema. Designed as the next phase in digital banking, the upgraded version of ALAT delivers a smarter, faster, and more intuitive experience, reinforcing Wema Bank’s leadership in technology-driven financial services.

Tagged ALAT: The Evolution, the upgraded version represents a significant advancement in how customers interact with their bank. It enables seamless banking through intelligent features such as voice banking (called SAW), which allows customers to carry out banking activities using natural voice commands, reducing friction and improving accessibility. It also introduces Tap and Pay for quick, secure, and convenient contactless transactions, alongside uptime prediction that enhances transparency, reliability, and confidence around service availability. Together, these innovations are designed to simplify everyday banking while anticipating customer needs in real time, reinforcing Wema Bank’s commitment to trust, efficiency, and customer-centric digital experiences.

Announcing the upgraded version, the Managing Director and Chief Executive Officer of Wema Bank, Mr. Moruf Oseni, said, “ALAT: The Evolution is more than an upgrade. It is a clear demonstration of our commitment to redefining digital banking in Africa. By understanding the future of banking and listening closely to our customers, we have upgraded ALAT by Wema to a digital banking platform that is smart, intelligent and dependable. This evolution reinforces our promise to deliver innovation that genuinely enhances how people live, work, and transact everyday.”

He added that migrating to the upgraded app is seamless. “Existing customers can simply visit the Google Play Store or Apple App Store to update their existing ALAT app and sign-in with their existing login details (All their account information and transaction history remain intact on their profile, and they will also gain access to new features that make banking faster, more intuitive, and more reliable). For new customers, simply visit the Google Play Store or Apple App Store to download the ALAT by Wema app and click the ‘Get Started’ icon to onboard seamlessly.

Speaking on the technology in the upgraded ALAT by Wema, Mr. Olusegun Adeniyi, Chief Digital Officer at Wema Bank, explained, “With ALAT: The Evolution, we set out to enhance not just functionality but the overall banking experience. By integrating voice banking, contactless payments, and predictive reliability, we are delivering a platform that is built on powerful technology and responds intelligently to customer needs. This upgrade reflects our long-term digital vision to create a digital bank that is adaptive, intuitive, and consistently available.”

Built on speed, intelligence, and user-centric design, ALAT: The Evolution redefines everyday banking through intuitive features such as voice-enabled transactions, contactless payments, and predictive service reliability. Designed to anticipate customer needs in real time, the platform delivers a smarter, more seamless, and dependable digital banking experience that reflects Wema Bank’s vision for the future of finance.

With the upgraded version of ALAT, Wema Bank continues to strengthen its position as a digital-first institution, delivering innovative solutions that empower individuals and businesses to bank with confidence in an increasingly digital economy.

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