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Fidelity Bank Unveils Get Alert In Millions Savings Promo

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Fidelity Bank

Fidelity Bank Plc yesterday unveiled its sixth promo tagged ‘Get Alert in Million Savings Promo” as part of its promise in helping to develop its customers with the culture of savings and also to continue to keep smiles on their faces in the midst of biting economic situation in the country.

Speaking at its Get Alert In Millions press conference yesterday in Lagos, the bank’s Deputy Managing director, Mr Mohammed Balarabe, said it was the sixth in the series of promos by Fidelity Bank to promote the savings culture.

The promo is expected to run for nine months and is aimed at helping people imbibe the culture of saving, self cash boost and more importantly for economic development despite the current economic situation.

“This is the sixth promo that we are holding and it is going to last for nine months. We have had previous promos and all have been successful and when I say successful, I don’t mean that we have met the expectations of savings account, but we have got more and more people and also still in the process of getting more people to develop the culture of saving.

Last year, we had Save for Shelter Promo, where we gave out some houses as well as cash”, he said.
Balarabe further said that the promo was initiated to give its customers a boost in their savings as he also implored the customers and prospective ones without an account with the bank to participate to win instant prizes.

“This particular time, we are rolling out the Get Alert In Millions Promo at a time when the economy is tight and where cash is king. The whole idea is for people to participate in it and get a major cash boost and we are imploring our customers and those who are not our customers to save for economic development and for themselves but more importantly save to ensure that they qualify for the prizes to be won.

Retail Banking and Information Officer , Mr Obaro Odeghe, however listed the criteria for participating in the promo including the star prize of N5 million and that the bank was would give out over N105 million cash gifts.

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BIG STORY

JUST IN: CBN Increases Banks Capital Base To N500bn, N200bn For National Commercial Banks

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The capital basis for commercial banks with international permission has been raised to N500 billion by the Central Bank of Nigeria (CBN).

The policy change was confirmed by Mrs. Hakama Sidi Ali, CBN’s acting director of corporate communications. in a declaration.

She added that commercial banks with regional authorization are expected to reach a capital floor of N50 billion, while those with national authority must meet a ceiling of N200 billion.

Announced on Thursday, March 28, 2024, this comprehensive financial reform requires significant increases in banks’ minimum capital bases, which vary depending on the size of the bank.

The latest policy directive specifies that commercial banks with international authorization are now required to shore up their capital base to N500 billion.

In a bid to tighten the financial fabric, the CBN has not overlooked merchant banks, which are now subject to a N50 billion minimum capital requirement.

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BIG STORY

Federal Government To Arraign Binance Executives Over ‘Tax Evasion’ On April 4

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On April 4, the federal authorities will file charges against senior executives of the cryptocurrency company Binance, Tigran Gambaryan, and Nadeem Anjarwalla, for allegedly engaging in “tax evasion.”

Anjarwalla is Binance’s regional manager for Africa, while Gambaryan oversees the company’s compliance with financial crimes.

The Federal Inland Revenue Service (FIRS) charged Binance with a crime on March 25th for “tax evasion.”

The service claims that the action is intended to maintain national economic integrity and fiscal discipline.

The lawsuit, designated as suit number FHC/ABJ/CR/115/2024, is said to “implicate Binance with a four-count tax evasion accusation”.

However, on Thursday, NAN reported the federal government will charge the three defendants before Emeka Nwite, the presiding judge, at the federal high court (FHC) in Abuja on a four-count charge.

Despite not being a vacation judge, according to the report, the chief judge granted the fiat for the judge to oversee the case during vacation because it is a matter of critical national interest.

The lawsuit comes a month after Anjarwalla and Gambaryan were detained by the Nigerian authorities.

Anjarwalla and Gambaryan had flown into Nigeria but had their passports seized by ONSA.

On March 12, Anjarwalla was transferred to a local hospital after he fell ill while in detention in Nigeria.

However, on March 25, Anjarwalla escaped from custody and fled Nigeria with a smuggled passport.

Meanwhile, Gambaryan, on March 28, sued Nuhu Ribadu, the national security adviser (NSA) and the Economic Financial Crimes Commission (EFCC), alleging violation of his fundamental rights.

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BIG STORY

NCC Orders Deactivation Of All Registered SIMs Without Proper NIN Linkage

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Telecommunications operators in the country are getting ready for another round of phone line disconnections for subscribers who have not linked their National Identification Numbers (NIN) with their SIM cards.

In accordance with a regulation from the Nigerian Communications Commission (NCC), which requires all registered SIMs without adequate NIN linking to be either repaired or entirely disconnected from networks, the disconnections are scheduled to occur on Friday, March 29.

In an effort to counter illegal acts including banditry and kidnapping and ultimately strengthen national security, the government launched the NIN-SIM Linkage process on February 28, 2024.

There are hints of a potential third phase in April 2024.

Operators have reportedly collaborated with the NCC in implementing the directive, demonstrating their dedication to national security objectives and ensuring full compliance by the specified deadlines.

The second phase will target subscribers with five or more SIMs from a single operator that lack verified NIN-SIM linkages.

The third phase, scheduled to start on April 15, will focus on subscribers with four SIMs or fewer and unverified NINs.

While telecom companies are advocating for a review and extension of the April deadline for the third phase, indications from the NCC suggest a firm commitment to the established timelines.

The first phase resulted in the barring of 40 million lines, including approximately 17 million active SIMs without NIN submissions and 23 million inactive SIMs lacking NINs over the past year.

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