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FIRSTBANK LEVERAGES TECHNOLOGY TO PROMOTE VIRTUAL BANK ACCOUNT OPENING FOR CUSTOMERS

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First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced that it has reinforced its technology infrastructure to enable anyone in the country open a FirstBank account through their mobile phones, without visiting any of its branches nationwide.

 

The investment in the Bank’s mobile banking infrastructure is in furtherance of the need to deepen financial inclusion in the country, enabling account opening to be carried out on its *894# USSD banking, FirstMobile (self-service telephone banking), its website – www.firstbanknigeria.com – as well as the Bank’s staff, through the Direct Sales Executive (DSE) application installed on their mobile phone, ATMs and the bank’s over 55,000 FirstMonie Agents spread across the country. Opening an account with FirstBank through any of these means is seamless, convenient, fast, and user-friendly.

 

The DSE App is an end to end encrypted mobile application installed on the phone(s) of FirstBank staff which enables them to open an account for to-be customers. Upon the completion of the account opening process via the DSE App, the customer is notified of his or her account number through a text message on the mobile phone used to register the account.

 

With FirstBank’s 894# USSD banking, various banking activities are carried out on a mobile phone – across the four major GSM network operators in the country – without the use of the internet. To open an account via this means, dial *894# then select ‘open an account’ to provide the information required or by simply dialling *8940#. The Bank currently has over 9.5 million of its nearly 20 million customers on its USSD banking platform.

 

The FirstMonie Agent Banking is an agent banking initiative from the bank that is designed to take banking closer to people, thereby bridging the gap between the banked and unbanked. FirstMonie is a channel through which various banking activities like FirstBank account opening, funds transfer, bill payments, data and call credit recharge services, amongst others are carried out. The Agent Banking initiative has also contributed to reducing poverty, being responsible for the indirect employment of over 150,000 people across the country.

 

According to Chuma Ezirim, Group Executive, e-Business & Retail Products, First Bank of Nigeria Limited, “beyond opening an account in any of our over 700 branches, we are delighted with the investments at reinventing our business processes over the years, especially with the use of technology. This has been critical to staying relevant in the industry for over 126 years and being the financial partner of the first choice to all our customers and Nigerians, irrespective of where they are.”

 

Creating these virtual ways of opening a bank account with us – thus; the staff DSE App, ATMs, FirstMonie Agents, *894# USSD banking, FirstMobile and our website – reinforces our resolve to ensure that more Nigerians and residents have access to banking, especially through our state of the art financial services and we remain resolute to being the key to banking, enabling business and financial activities that would continue to propel the country’s economic growth and development.

 

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Capital Market

Stock market gains N15bn on MTNN price rally

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The key market indices of the Nigerian Stock Exchange (NSE) on Friday rebounded by 0.12 per cent following price appreciation achieved by MTN Nigeria Communications.

The News Agency of Nigeria (NAN) reports that MTN Nigeria Communication dominated the gainers’ table with N1.10 to close at N16.10 per share.

Vitafoam Nigeria followed with 26k to close at N3.85, while International Breweries added 25k to close at N3.85 per share.

GlaxosmithKline gained 20k to close at N4.80, while PZ Cussons appreciated by 15k to close at N4.50 per share.

Consequently, the All-Share Index which opened at 24,276.56 rose by 29.80 points or 0.12 per cent to close at 24,306.36.

Also, the market capitalisation of listed equities inched higher by N15 billion or 0.12 per cent to N12.679 trillion from N12.664 trillion achieved on Thursday.

On the other hand, Guaranty Trust Bank topped the laggards’ table, dropping 30k to close at N22.45 per share.

United Bank for Africa trailed with a loss of 15k to close at N6.25, while Zenith Bank lost 5k to close at N16.70, per share.

ABC Transport dipped 5k to 51k, while FBN Holdings also declined by 5k to close at N5.20 per share.

An analysis of the activity chart indicates that Sterling Bank was the most active, exchanging 17.66 million shares valued at N22.63 million.

Zenith Bank followed with an account of 7.47 million shares worth N47.06 million, while Transcorp sold 7.41 million shares valued at N4.69 million.

Fidelity Bank exchanged a total of 6.20 million shares worth N11.11 million.

In all, the volume of shares traded closed lower with an exchange of 131.63 million shares valued at N899.49 million in 3,044 deals.

This was in contrast with 192.08 million shares worth N2.47 billion exchanged hands in 3,833 deals on Thursday.

 

(NAN)

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BUSINESS

EKEDC warns against tampering with meters

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Eko Electricity Distribution Company (EKEDC) on Friday said it had intensified efforts to curb cases of meter tampering by customers within its operational network.
Mr Godwin Idemudia, General Manager, Corporate Communications, EKEDC, in a statement issued in Lagos warned that those involved in such nefarious activities would face prosecution.
Idemudia said the warning follows the recent arraignment of three persons before an Ojo Magistrates’ Court on a four-count charge of conspiracy to commit fraud, impersonation, forgery and tampering with electricity installations.
He said the accused persons allegedly received the sum of N70,000 from unsuspecting customers who wanted to get their prepaid meters repaired and placed them on direct connection.
Idemudia said :” It is rather unfortunate that people go about parading themselves as our staff when they are not.
“We will go the full extent of the law and this will serve as a deterrent to others aiming to do same.”
He urged EKEDC customers to always go through the appropriate channels for all complaints or issues and make no form of payment to unauthorised persons or channels.
Idemudia also advised customers to report any staff or partners that make demands on them for EKEDC’s services via its social media platforms and other designated channels.
(NAN)
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Aviation

Ekiti Cargo Airport to be ready in 18 months

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Ekiti Government has said the ongoing construction of the Cargo Airport at Ipogun in Irepodun/Ifelodun Local Government Area would completed in 18 months.

Mr Bunmi Awotiku, the Special Adviser to the Governor on Airport Project, said this when Ekiti House of Assembly Committee on Works and Transport visited the site on Friday at Ipogun.

The News Agency of Nigeria reports that the project started in October 2019.

The Chairman of the House Committee, Chief Olugboyega Aribisogan, said that the airport was a timeless legacy, which would enhance the rapid transformation and development of the state.

Aribisogan, accompanied by other committee members, said they were at the site to examine the level of work done on the project.

The chairman assured that the Assembly would give necessary legislative support to the state Executive to enable it deliver the dividend of democracy to the people of the state

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