Banking
Access Bank Customers Win Prizes in AccessMore Mega Reward
By Modupe Gbadeyanka
Some Access Bank customers have won various prizes in the first phase of the AccessMore Mega reward scheme for the lender.
One of the winners, Mr Precious Nwuba, went home with N1 million. According to him, he reluctantly participated in the exercise and was surprised when he emerged as a winner.
“I learnt about the scheme and decided to participate reluctantly. I forgot all about it, and when I was told that I had won N1 million, I could not believe it; I felt it was a lie. But the bank urged me to visit my branch in Ondo State, and it was there I confirmed that I indeed won N1 million.
“I am grateful to God and the bank for coming up with this initiative amid the harsh times in the economy. I would spread the word about this; it is still a miracle to me,” Mr Nwuba said at the presentation over the weekend.
Access Bank designed the promo as part of its strategy to drive easy, effective and rewarding banking using its AccessMore mobile app.
According to the bank, N10 million to N12 million will be doled out to its customers between now and December 2022.
The Head of Marketing and Communications at Access Bank, Ms Chioma Afe, said the app was launched in 2020 to encourage customers to use the app to make transactions due to the lockdown.
She noted that the bank saw increased patronage of the app and decided to reward its customers by introducing the reward initiative in 2022.
“We kept it simple. We kept it in the app, and we said, if you make N100 on the rewards, you can just quickly redeem it, or we keep reminding you because it is available for you for a period of time.
“You can use it to offset bills such as light bills, Cable bills, and so we saw customers do it consistently from 2020.
“So, in 2022, we decided to do something to reward our customers so that more people can tap into the rewards and see the benefits for them, especially to refer other customers and to give them something more.
“So, we pegged some money down, and I think we will give out about N10-12 million including the trip between now and December. Hence, we have cash prizes, gadgets, iPhones and other amazing prizes for our customers,” Ms Afe said.
Corroborating her, Senior Banking Adviser, Retail Banking at Access Bank, Rob Giles, said that the first phase involved the bank rewarding about five customers with N100,000 and N1 million, while adding the second phase of the reward scheme will be between now and December.
Giles said, “The steps to take to enjoy rewards on the app are quite easy. Simply download the AccessMore app, register (signup) and opt into Access Rewards & Referrals on the app to get 100points.
“Each complete referral you make earns you additional 100 points. Once you onboard 20 – 30 new people onto the AccessMore app, you get 2000 – 3000 points, respectively, and this qualifies you for a chance to win cash prizes of up to N1 million.
“Customers can also stand a chance to win iPhone 13 phones and other cash prizes of N100,000 and N50,000 and other amazing rewards. The great thing is, the more you transact, the more points you earn.”
The Access Bank AccessMore app is a unique payment application built on cutting-edge technology, offering tailored and personalized services and an excellent customer experience. The app is easy to use and is available for download on Android PlayStore and iOS Store.
By Modupe Gbadeyanka
About N3.6 trillion has been repaid to the Central Bank of Nigeria (CBN) by the Asset Management Corporation of Nigeria (AMCON) since its inception in 2010.
This information was revealed by the chief executive of AMCON, Mr Gbenga Alade, during a media parley to update the press on the activities of the agency.
Mr Alade said at the moment, the organisation still owes the central bank about N3 trillion for toxic assets of banks in the country.
He praised the organisation for its asset recovery drive, stressing that when compared with others across the world, Nigeria has done well.
“It is important to stress that the corporation has done tremendously well, especially when compared to other notable government-owned Asset Management Corporations around the world.
“Based on the balance at purchase, AMCON outperformed other Asset Management Corporations all over the world by achieving over 87 per cent in recoveries despite the unique challenges associated with debt recovery in Nigeria.
“The Malaysian Danaharta, which is adjudged one of the best performing Asset Management Corporation’s, only achieved 58 per cent. The Chinese Asset Management Corporation, despite its stricter laws, achieved just 33 per cent.
“Only the Korean Asset Management Corporation (KAMCO), South Korea, has achieved more recoveries than AMCON, with about 100 per cent. This was due to their brute force with which they chased the obligors.
“Despite KAMCO’s recovery records, the agency is still operational to date with slight realignments in its mandate.
“Other noted Asset Management Corporations that have transitioned into a perpetual institution of the various governments include, China Asset Management Company, Federal Deposit Insurance Corporation (FDIC) USA, and KFW Germany.
“So, gentlemen, without sounding immodest, AMCON has done well, and we will not relent until all the outstanding debts are fully realized,” Mr Alade stated.
On the financial performance of AMCON, he said last year, the firm posted a revenue of N156.25 billion and operating expenses of N29.04 billion, while for the 2025 fiscal year should be a revenue of N215.15 billion and operating expenses of N29.06 billion.
By Modupe Gbadeyanka
One of the non-interest banks in Nigeria, The Alternative Bank (AltBank), has opened a new branch in Effurun, Delta State.
The new office will serve the Edo-Delta region and provide purposeful banking and real financial empowerment for individuals, entrepreneurs, and businesses, a statement from the firm stated.
The lender disclosed that the Effurun branch is a bold move in its mission to reshape banking in Nigeria.
The launch was graced by key dignitaries, including the Ovie of Uvwie Kingdom, Emmanuel Ekemejewa Sideso Abe I; the Chairman of Uvwie Local Government, Anthony O. Ofoni, represented his vice, Andrew Agagbo; and the Special Adviser to the Governor of Delta State on Community Development, Mr Ernest Airoboyi; amongst others.
The Divisional Head for South at The Alternative Bank, Mr Chukwuemeka Agada, emphasised the institution’s commitment to Warri and its surrounding communities.
“By establishing a presence here, we are initiating a transformation in the way banking serves the people of Delta. Our purpose-driven approach ensures that customers’ financial goals are not just met but exceeded,” he stated.
“This branch represents our pledge to empower Warri’s dynamic businesses and families, providing them with the tools to grow without compromise,” Mr Agada added.
“We understand the heartbeat of this community, and we are excited to integrate our bank into the fabric of this dynamic region,” he stated further.
On his part, the representative of the Ovie, Mr Samuel Eshenake, challenged the bank to facilitate development and employment within the Effurun community.
The Regional Head for Edo/Delta at The Alternative Bank, Mr Akanni Owolabi, embraced this challenge, pledging that the bank will work sustainably to drive local commerce.
“At The Alternative Bank, we are committed to being an active partner in the development of Effurun. We see this branch as a catalyst for creating opportunities, driving employment, and supporting the growth of local businesses.
“Our mission is to empower this community, ensuring that every step forward is one of progress, prosperity, and shared success.”
By Aduragbemi Omiyale
A partnership aimed to enable seamless, real-time and secure transactions for cardholders across Africa and the rest of the world has been entered into by Payattitude and PAPSSCARD, the card scheme initiative of the Pan-African Payment & Settlement System (PAPSS).
The collaboration will allow Payattitude cards issued by banks and other deposit-taking institutions to be co-branded with PAPSSCARD, Discover, Diners and Pulse for acceptance across their networks in Nigeria, Africa and worldwide.
As an initiative of the African Export-Import Bank (Afreximbank) and a key financial infrastructure supporting the African Continental Free Trade Area (AfCFTA), the PAPSSCARD scheme will facilitate instant cross-border payments in local currencies.
“This partnership reflects our commitment to cross-enterprise alliances and enabling inclusive, efficient, and borderless payments across Africa and the world
“With Payattitude, Nigerian cardholders and financial institutions can now enjoy the benefits of a Nigerian card that can be used worldwide,” a director at Payattitude, Dr Agada Apochi, said.
The acting chief executive of PAPSSCARD, Mr John Bosco Sebabi, said the aim is “to connect African payment ecosystems, reduce the cost and inefficiencies of cross-border payments, and strengthen African sovereignty over payments infrastructure.
“Collaborating with Payattitude, a key innovator in Nigeria’s payment space, represents a significant step towards a more unified African payment landscape.”
The chief executive of PAPSS, Mr Mike Ogbalu, said, “By bringing together PAPSSCARD’s robust cross-border payment capabilities with Payattitude’s leadership in the Nigerian digital payments, we are taking tangible steps toward building a single African market where individuals and businesses can transact easily and securely, both within and beyond Africa.”
Payattitude is the first-in-kind Nigerian Payment Scheme to pioneer multibank App and USSD Code *569#.
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