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Emmanuel Alu, a customer of Union Bank recently emerged the lucky winner of a brand new MG3 car in the bank’s ongoing 100th anniversary data enrichment promo.

Alu, a customer from Minna becomes the first customer to win one of three cars up for grabs in the centenary anniversary promotion.

Selection of winners in the promo is conducted using a transparent, automated draw process supervised by the Consumer Protection Council.

Other fantastic prizes which have been won include: microwaves, flat screen TVs and generator sets.

Speaking at the car presentation ceremony which held in Abuja recently, the bank’s Head of Retail Segments, Paul Aseme, reinstated that the promo is in line with the theme of the 100th anniversary celebration which is ‘Celebrate, Impact, Lead’.

Aseme said: “It is our culture to celebrate our customers; they are a very important part of our history and the success story which we have created together. Considering how important this year is to us, we set up this promo as an opportunity for us to give back to our customers and show our appreciation for their loyalty through the years.

“The unique promo rewards new and existing customers who simply provide their up-to-date information – which in turn helps us offer them suitable products and services. The promo does not require any minimum balances or relationship period, and anyone can qualify by updating their details at our branches or digital channels.”

Expressing his gratitude, Alu praised the bank’s generous gesture, commending its top-notch banking services and the recent upgrade of the branches and facilities across the country.

He said: “I have been a Union Bank customer for several years and it has been a wonderful experience.  I thank Union Bank for putting a smile on my face. My family and I are happy and grateful to Union Bank.”

Union Bank’s 100th anniversary promotion is open to new and existing customers. To qualify to win, existing customers are required to update their details at any of the bank’s branches nationwide or reactivate a dormant account. New customers are eligible to win once their accounts are opened.

The bank also recently launched a bouquet of digital banking platforms in a bid to provide its customers with cutting edge digital banking services.

Union Bank remains committed to leveraging on its rich, 100 year old heritage and wealth of experience to deliver simpler and smarter banking services to its esteemed customers.

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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