Banking
Subscribers Go Tough On DStv, Call For Better Service
By Dipo Olowookere
Subscribers to DStv service in Abuja have called on the relevant regulatory bodies to check what they described as “inflexible’’ subscription conditions.
The subscribers to the digital cable TV service made the call in separate interviews with the News Agency of Nigeria (NAN) on Tuesday in Abuja.
They complained, among other things, about the absence of toll-free lines to reach the company whenever necessary, absence of free-to-air channels, as well as exorbitant subscription rates for bouquets.
The Consumer Protection Council (CPC) had in February issued a directive to MultiChoice Nigeria, owners of DStv, on the need to be flexible on its dealings with subscribers.
Investigations by CPC earlier had confirmed allegations of violations of consumers’ rights leveled against MultiChoice Nigeria in the delivery of its service.
Consequently, it ordered the cable company to, among other things; provide toll-free lines to its subscribers, release free-to-air channels, even when subscription expires and compensate consumers across board for lost viewing time.
The council also observed that the DStv billing system, whereby “billing is not contemporaneous with the provision of service” was not in the best interest of consumers.
It, therefore, ordered MultiChoice to install a billing system that would ensure that billing was commensurate with the provision of service.
However, over six months after the order was given by the CPC, subscribers to DStv service were still agitating for better service experience.
Some of them said that DSTV was yet to comply to the order, alleging it was either the company had “settled the CPC or money has exchanged hands’’.
Martins Asuquo, a civil servant, said there was the need for the cable company to be more sensitive and responsive to the Nigerian market in view of the present economic challenges.
“Our regulatory bodies should call DStv operators to order.
“If it really means well for Nigerians, DStv needs to listen to its customers and make its service affordable and readily accessible.
“If you are having any challenge with the service, you will have to make sure you have enough airtime on your phone before you can contact its customer centre.
“Why can’t they provide toll-free lines for us?
“If they have, let them make such lines readily available to their numerous customers across the country,” he said.
Mr Asuquo said it was annoying that the company always reminded customers to renew their subscription that was yet to expire.
“One will always receive series of calls to be reminded on the need to get prepared for the next subscription.
“This is more disturbing when you realise that you will be yanked off as soon as your subscription expires.”
Another subscriber, Mrs Juliet Ogunyemi said the company had no free-to-air channels, in spite of the huge money they were making from Nigeria.
She added that there was need for the company to list all Nigerian local television stations on its free-to-air channels in all its available bouquets.
“The only free-to air channel I know on DStv for now is CCTV, which is not even our indigenous station.
“I don’t think it will amount to giving too much to Nigerians if DStv increased our free-to-air channels.
“We have remained loyal and consistent to this company over the years, let it reciprocate our loyalty,” Mrs Ogunyemi said.
She added that the company’s service suspension mechanism, on account of being away for some time, was yet to be made efficient.
“If you apply for suspension of service, it normally takes longer than you wanted before they will make it effective.
“This also reduces the duration you are supposed to enjoy your subscription.
“It will be better if a code is devised to enable a subscriber apply for it on his or her mobile device,” she said.
In the same vein, Tijani Atojoko, a sports enthusiast, noted that some popular channels, especially on sports, were not available in certain bouquets of DStv.
“Sport is something almost everyone loves and follows.
“There should be an equitable spread of popular sports and other channels in the bouquets.
“Government should make DStv see reasons to make its service better for us.
“I don’t think this is how they operate in other countries such as South Africa,’’ he said.
Erica Ovuakporoye said since she subscribed to the cable TV, she’s had a nasty experience.
According to her, DSTV is exploitative.
Ovuakporoye said that even after renewing her subscription, she would still be disconnected.
She said the most annoying aspect was that she had to spend her airtime to call DSTV for a problem that was not her making to be rectified.
“It is so annoying and frustrating, the Nigerian Government has to stand up and protect its citizens from the exploitation of these foreign companies,’’ she said.
When NAN contacted Abiodun Obimuyiwa, the Deputy Director of Public Relations of the Consumer council, he said MultiChoice had complied with the order.
“We can confirm that they complied with our order. I am aware that DStv now has a toll-free- line for its subscribers.
“Also, they have also compensated consumers across board for lost viewing time.
“I don’t know why some subscribers are saying they are not aware of these,’’ he said.
Obimuyiwa claimed that that DStv had also a listed a local television channel as its free-to –air channel as stipulated by the National Broadcasting Commission (NBC).
“By the NBC provision, a digital TV station is supposed to leave one local TV as its free-to-air channel, and DStv’s free to air is NTA,” he said.
NAN
By Aduragbemi Omiyale
Top financial technology (fintech) companies in Nigeria, PalmPay and Carbon, have commenced the issuance of Verve cards to their customers.
This allows millions of Carbon and PalmPay customers access to Verve’s extensive payment network, bringing digital payment solutions to previously underserved populations.
They began issuance of the cards following the approval of the Central Bank of Nigeria (CBN), underscoring the apex bank’s commitment to empowering fintech companies and advancing financial inclusion across the country.
The issuance of Verve cards by these firms will bring digital payment solutions to previously underserved populations.
Industry observers note that the decision by both fintech companies to align with Verve stems from the payment card’s network-wide reach and a robust infrastructure across Nigeria and beyond.
Last year, Verve marked its 15th anniversary characterized by its outstanding quality, innovativeness and vast array of options; it also announced that it has issued over 70 million cards, establishing itself as a dominant player in Nigeria’s payment ecosystem.
The domestic card scheme’s impressive penetration makes it a natural choice for fintech platforms seeking to rapidly expand their payment offerings while supporting the CBN’s financial inclusion goals.
Other fintech companies that have previously followed this line in issuing Verve cards include Opay and Moniepoint.
As a homegrown card scheme, Verve has continued to innovate its service offerings to compete effectively with international payment networks.
The company has integrated advanced features, including contactless payment technology and enhanced security measures, such as biometric authentication through other sophisticated recognition systems such as fingerprints.
Through collaborations like this, Nigeria’s journey toward a more inclusive financial ecosystem will be shortened, providing more Nigerians with access to modern banking and payment services through the combined technological capabilities of these financial service providers.
By Modupe Gbadeyanka
A leading player in the digital financial services sector, Moniepoint Incorporated, has been described by the federal government as a testament to the strength of Nigeria’s financial technology (fintech) landscape.
The Minister of Foreign Affairs, Mr Yusuf Tuggar, during a visit to the United Kingdom headquarters of the company, also said the firm reflects a true Nigerian success story.
He acknowledged the significant backing Moniepoint has received from global investors, including Google’s Africa Investment Fund, Visa, and BII, further validating its position as a leader in the fintech space.
Mr Tuggar stressed that a thriving fintech sector directly translates to more jobs, increased financial inclusion, and a stronger economy for Nigeria.
The Minister highlighted the organisation’s impressive growth, citing its 2000+ employees, thousands of sales personnel, and its empowerment of millions of businesses through enhanced financial inclusion.
“Nigeria is at a vantage position in the fintech and financial services sector. With banks and fintechs operating across Africa, we must continue to instill confidence in Nigerian businesses as they expand globally. Moniepoint is a testament to the strength of Nigeria’s fintech ecosystem,” he said during the visit aimed at strengthening diplomatic ties and fostering strategic cooperation between Nigeria and the UK.
In his remarks, the chief executive of Moniepoint, Mr Tosin Eniolorunda, reiterated the company’s commitment to powering the dreams of millions of business owners while engineering financial happiness for all Africans.
He noted that the dynamic digital landscape in Nigeria presents unique opportunities to harness technology to drive real change, and Moniepoint is excited to be at the forefront of this transformation.
“By empowering individuals and businesses with financial tools that are innovative and efficient, we believe that technology can be a powerful catalyst for economic growth and social development.
“This visit by the Minister signposts the importance of cross-border collaboration and the strengthening of Nigeria’s global partnerships. We recognize the critical role that international cooperation plays in advancing innovation, especially within the fintech sector.
“As a country, Nigeria has immense potential, and through strategic alliances with global stakeholders, we can unlock new opportunities that benefit both local and international communities.
“At Moniepoint, we are deeply aligned with the Nigerian government’s vision to enhance strategic cooperation in areas like trade, investment, and technology.
“We are eager to continue contributing to the development of our country’s digital economy while fostering meaningful collaborations that will leave a lasting legacy for generations to come,” he stated.
Formerly known as TeamApt Incorporated, Moniepoint, founded in Lagos in 2015 by Mr Eniolorunda and Felix Ike, has rapidly grown into a comprehensive digital financial services provider.
Offering payments, banking, credit, business management tools, and cross-border payment solutions, Moniepoint serves over 10 million businesses and individuals across Nigeria and Africa.
By Modupe Gbadeyanka
To help Nigerians secure their financial futures and build lasting legacies, Stanbic IBTC Bank has reintroduced its private banking offerings.
With a focus on personalised financial solutions, portfolio management, investment strategies, and estate management, Stanbic IBTC Bank empowers individuals and families to achieve their long-term goals of building lasting legacies for future generations.
By equipping families and individuals with the knowledge and tools to manage their wealth effectively, the subsidiary of Stanbic IBTC Holdings is fostering a legacy of financial resilience and prosperity.
Stanbic IBTC Bank’s private banking offerings include personalised financial planning to help clients achieve their short and long-term financial goals, investment management to enable clients access a wide range of investment opportunities, (including equities, fixed income, and alternative assets), estate and trust services through expert guidance on estate planning, wills, and trusts to ensure smooth wealth transfer, retirement planning through solutions that help clients build a secure and comfortable retirement, insurance and risk management through comprehensive protection against unforeseen events that could impact financial stability.
In a world where financial security and intergenerational wealth transfer is becoming increasingly critical, Stanbic IBTC Bank’s comprehensive suite of private banking solutions provides clients with the tools and expertise needed to navigate the complex financial landscapes.
Stanbic IBTC Bank leverages its deep market knowledge and global expertise to deliver solutions that align with clients’ unique aspirations.
“At Stanbic IBTC Bank, we understand that building a legacy goes beyond accumulating wealth; it is about creating a sustainable financial foundation that benefits future generations.
“Our innovative solutions are designed to help families protect, grow, and transfer their wealth seamlessly, ensuring their values and aspirations endure over time,” the chief executive of Stanbic IBTC Bank, Mr Wole Adeniyi, stated.
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