Banking
Unity Bank Begins Season 2 Unity Verve for Value Promo
By Modupe Gbadeyanka
One of the leading drivers in e-payment system, Unity Bank Plc, has flagged off the Season 2 of its Unity Verve for Value Promo, which offers to give out cash prizes and other material rewards to customers and verve card holders of the bank.
The Season 2 offer is a set of incentives that have been packaged as a reward scheme for deserving customers and active users of the verve debit card on electronic platforms such as POS and WEB.
A statement from the bank quoted the Managing Director/CEO of Unity Bank Plc, Mrs Tomi Somefun, as saying that the Season 2 promo offer is aimed at spreading out the benefits of the scheme to bring more verve card holders into the reward net. She stated that from July to December, 2018 scheduled for the duration of the promo, as much as 300 Unity Bank verve cards holders (ie 50 winners monthly) will receive cash gifts while 3,000 customers (ie 500 card holders monthly) will receive airtime top-up.
To qualify for the promo, Verve Card holders are required to transact on POS and Web channels to accumulate transaction counts, volume and value. At the end of every month, 50 customers with highest number of transactions will enjoy reward of N5, 000 worth of cash, while another 500 will be rewarded with airtime top up.
Also speaking on the promo, the General Manager, Product and Channels, Unity Bank Plc, Mr Bonaventure Okhaimo, urged customers, old and new, to take advantage of the offer and participate actively, adding that the Season 2 Unity Verve for Value Promo is well thought out to promote consumer lifestyle and e-commerce experience by encouraging customers’ uptake to transact more on the POS and Web channels.
He said that “apart from the Season 2 reward promo, the bank is interested in the customers accessing wide-ranging electronic solutions that will give them control, convenience and product experience as more and more Verve card holders make purchases on PoS and Web”.
According to him, Unity Bank is committed to ensuring ease, convenience and security in banking transactions for all its customers and its Verve Card holders which is accepted for payment for goods and services.
Mr Okhaimo said that the promo gives Verve Card holders the benefits of using their cards and getting rewarded for their commitment and patronage.
He further assured Cards holders that Verve Cards are very secure as cardholders are protected against fraud by providing two-factor authentication platform to help guard them across channels.
The Season 1 Unity Verve for Value Promo produced two star prize winners: Mr Ofurum Oscar Chidiebube (Owerri branch) and Mr Ojo Gbenga Oluwafemi (Ado Ekiti branch) who were rewarded with an all-expense paid trip to Ghana.
Verve is a Naira denominated card linked to customer’s savings, current or corporate account and used to settle purchases within Nigeria. It is a Chip and PIN secured debit Cards that offers customers with 24-hour access to funds on ATMs, POS, and WEB within Nigeria thereby reducing the risk and the inconvenience of carrying cash.
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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