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The Central Bank of Nigeria (CBN) recently announced the take off of the Cash-Lite policy nationwide starting July 1st, 2014. Under this new policy, cash withdrawals and deposits above N500, 000 will attract a 3% fee for individuals while cash withdrawals and deposits above N3, 000,000 on any day will attract a 5% fee for corporate bodies. However, these fees ...
July, 2014
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14 July
UBA Excites Salary Account Owners With IOU Product Tagged “U-Advanced Card”
UNITED Bank for Africa Plc (UBA), has announced the introduction of a new product “U-Advance Card,” a payment card that allows workers who operate a salary account with the to get a credit advance ahead of pay-day. “The U-Advance Card is an internationally accepted card payment solution designed to address the salary account holders’ need for easy and quick access ...
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3 July
UBA MD, Oduoza, Speaks Frankly About CBN Gov, Fraud In Banking, etc..
He rarely grant interview, so this is a priced possession, it’s a readers’ delight. Aside his mind on new CBN Gov, and about Online banking, the Group Managing Director of UBA Plc, Mr. Phillips Oduoza, 40 per cent of transactions in the bank are now done online and 60 per cent done offline, unlike in the past, when about 17 per ...
June, 2014
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19 June
UBA Customers Groan In Pains Over Unresolved Internet Frauds! As CBN Laments Cybercrime
Financial Institution, United Bank For Africa – U.B.A- is currently enmeshed in an in house fraud rocking the bank. There are allegations that about N1.4B customers funds are missing. Informants claim the missing money the result of illegal deductions made over time from customers accounts. The deductions are tagged ‘by very small margin’ Sources confirmed the scam ‘a long term’ ploy. The perpetrators are alleged ...
