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NCC: It’s untrue that 95.7m SIM cards have been rendered invalid

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The Nigerian Communications Commission (NCC) has denied reports that 95.7 million subscriber identification module (SIM) data have been rendered invalid as a result of poor technology.

In a chat with journalists, Sunday Dare, NCC commissioner for stakeholder management, said the commission is currently verifying data of subscribers across the country.

He said the subscriber data so far captured by mobile network operators (MNOs) are being cleaned-up, verified and harmonised in accordance with the National Identity Management Commission (NIMC) act and as directed by the federal executive council.

Dare said it is the usual global practice for subscriber data to undergo the normal process of verification.

“The operators, at the point of registration, are expected to capture specific data – biometrics (picture and fingerprint), name, address etc. Once they capture it, they put it together, and from time to time, they send it to NCC through secure electronic means,” he said.

The NCC commissioner explained that upon getting the data to the central system, the commission verifies what has been submitted by the operators as has always been the case.

According to him, “we issued subscriber registration regulations in 2011 together with registration specifications and these have remained substantially the same since then.

“What we now have is an additional layer of verification via a presidential directive and an enabling law – that all data-collecting agencies of government should harmonise their data with NIMC – because statutorily it is only NIMC that has the powers to create a national citizens’ database. So, NCC falls within the category of data collecting agencies.

“So, as we collect SIM registration data, FRSC collects (for drivers’ licence), immigration collects (for International Passport), etc. – they said to submit everything to NIMC.”

Dare added that there is no “serious problem” with SIM data, as the NCC is working with network operators to correct any identified gap.

“In simple terms, NIMC has a statutory duty to create a national citizens’ database and it has been approved by FEC that NCC and all data collecting agencies should submit their data to NIMC for harmonization,” he said.

“Don’t forget that INEC has over 88 million records of peoples’ data for permanent voters card (PVC) – the same way we also have data of people that have SIM cards.”

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Transact Without Borders With The Firstbank Verve Global Card

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First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider, has announced the launch of the Verve Global Card. In partnership with Verve International (Interswitch Group) and Discover Financial Services, the launch took place at Times Square New York City on Monday, 12 August 2019.

In attendance at the event were FirstBank’s Deputy Managing Director, Gbenga Shobo; Group Executive, eBusiness & Retail Products, Chuma Ezirim; Head, Card & Messaging Business, Folasade Femi-Lawal and Interswitch Group’s Founder/GMD, Mitchell Elegbe and Divisional CEO, Verve, Mike Ogbalu. Discover Financial Services’ Senior Vice President, Payment Services, Joseph Hurley and Executive Vice President, Payment Services, Diane Offereins, amongst others were also in attendance.

Founder/GMD, Interswitch Group, Mitchell Elegbe; Group Executive, eBusiness & Retail Products, FirstBank, Chuma Ezirim; Deputy Managing Director, FirstBank, Gbenga Shobo; Head, Card & Messaging Business, Folasade Femi-Lawal and Divisional CEO, Verve, Mike Ogbalu, at the Verve Global Card launch in New York last Monday
First Bank of Nigeria Limited, Nigeria’s premier and leading financial services provider, has announced the launch of the Verve Global Card. In partnership with Verve International (Interswitch Group) and Discover Financial Services, the launch took place at Times Square New York City on Monday, 12 August 2019.


 

 
In attendance at the event were FirstBank’s Deputy Managing Director, Gbenga Shobo; Group Executive, eBusiness & Retail Products, Chuma Ezirim; Head, Card & Messaging Business, Folasade Femi-Lawal and Interswitch Group’s Founder/GMD, Mitchell Elegbe and Divisional CEO, Verve, Mike Ogbalu. Discover Financial Services’ Senior Vice President, Payment Services, Joseph Hurley and Executive Vice President, Payment Services, Diane Offereins, amongst others were also in attendance.


 
The Verve Global Card, an introduction by Verve International to FirstBank, is a new entry to the array of card products offered by FirstBank to its customers. The FirstBank Verve Global Card is an enhancement to the existing Verve Debit card with exclusive capacity for domestic and cross border transactions across all channels. The card can be linked to Savings & Current accounts, with a “Safetoken” extra protection for web-based transactions.


 
Speaking on the launch, Deputy Managing Director, First Bank of Nigeria Limited, Gbenga Shobo said, “in partnership with Verve International, we are pleased to launch the Verve Global Card as it reinforces our commitment to putting our customers first with innovative and state of the art financial products and services that promote seamless transactions regardless of where they are across the globe.”


 
“I enjoin every FirstBank customer and the general public to visit the nearest FirstBank branch and request for the card to enjoy seamless cashless transactions” he concluded.


 
The first transaction of the Verve Global Card was carried-out by the Deputy Managing Director, FirstBank, Gbenga Shobo at Swarovski Shop located on Times Square.

The Verve Global Card, an introduction by Verve International to FirstBank, is a new entry to the array of card products offered by FirstBank to its customers. The FirstBank Verve Global Card is an enhancement to the existing Verve Debit card with exclusive capacity for domestic and cross border transactions across all channels. The card can be linked to Savings & Current accounts, with a “Safetoken” extra protection for web-based transactions.

Speaking on the launch, Deputy Managing Director, First Bank of Nigeria Limited, Gbenga Shobo said, “in partnership with Verve International, we are pleased to launch the Verve Global Card as it reinforces our commitment to putting our customers first with innovative and state of the art financial products and services that promote seamless transactions regardless of where they are across the globe.”

“I enjoin every FirstBank customer and the general public to visit the nearest FirstBank branch and request for the card to enjoy seamless cashless transactions” he concluded.

The first transaction of the Verve Global Card was carried-out by the Deputy Managing Director, FirstBank, Gbenga Shobo at Swarovski Shop located on Times Square.

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Mark Angel Gets His Own Mouka Flora Mattress

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Mark Angel best known for the Mark Angel Comedy series, often featuring his child comedian niece, Emmanuella, just received the new Mouka Flora mattress.

In the viral comedy skit called MANCHELOR Part 2, Mark Angel falls in love with the new Mouka Flora mattress while Emmaneulla and his neighbours urge him to get married “Now that Emmanuella has bought you mattress, Oya go and marry. Have you not old? You have passed menopause, very soon you will reach menostop”.

The new Mouka Flora mattress is redesigned to offer exceptional comfort and provide consumers with quality sleep. According to Mouka’s Senior Brand and Innovation Manager, Jide Odelola says “Nigerians can now enjoy superior comfort and durability of the new Mouka Flora mattress to ensure they wake up feeling energized the next morning.”

Mouka is reputed in the industry for its world class manufacturing technology. Other brands within Mouka’s portfolio include: Mondeo Spring mattress, Dreamtime water resistant children mattress, Regal Orthopaedic mattress, Regina semi-orthopaedic mattress and Mouka Mozzi range of insect repellent products. 

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GTBank Releases 2019 Half Year Audited Results, Reports Profit before Tax of N115.8Billion

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Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2019 to the Nigerian and London Stock Exchanges. 

The half year result shows positive growth across key financial metrics and reflects GTBank’s leading position as one of the best managed financial institutions in Africa. The Bank reported a Profit before Tax of ?115.8billion, representing a growth of 5.6% over ?109.6billion recorded in the corresponding period of 2018. The Bank’s loan book grew by 1.0% from ?1.262trillion recorded as at December 2018 to ?1.274trillion in June 2019 and customer deposits increased by 6.3% to ?2.418trillion from ?2.274trillion in December 2018.

The Bank closed the half year ended June 2019 with Total Assets of ?3.598trillion and Shareholders’ Funds of ?603.0Billion. In terms of Asset quality, NPL ratio and Cost of Risk improved to 6.8% and 0.2% in June 2019 from 7.3% and 0.3% in December 2018 respectively. Overall, asset quality remains stable with adequate coverage of 84.7%, while Capital remains strong with CAR of 23.5%. On the backdrop of this result, Return on Equity (ROAE) and Return on Assets (ROAA) stood at 33.7% and 5.8% respectively. The Bank is proposing an interim dividend of 30kobo per ordinary share of 50 kobo each for period ended June 30, 2019.

Commenting on the financial results, the Chief Executive Officer of Guaranty Trust Bank plc, Segun Agbaje, said; “We have delivered a good result inspite of a challenging market, characterized by varying degrees of uncertainty and a rapidly changing competitive landscape. Our strong financial performance is underpinned by our unwavering focus on delivering value for our shareholders and reimagining the role we play in our customers’ lives.”

He further stated that “In a rapidly changing world and increasingly unpredictable environment, we are committed to building a long-term business that is both nimble and focused on flawless execution. The progress that we have made over the past six months demonstrates that we have the right strategy and the dedicated team to deliver for all our stakeholders, even in difficult conditions.”

The Bank has continued to report the best financial ratios for a Financial Institution in the industry with a return on equity (ROE) of 33.7% and a cost to income ratio of 37.6% evidencing the efficient management of the banks’ assets. These ratios are a testament to the competent and experienced management and work-force, efficient balance sheet structure and operational efficiency of the Bank. In recognition of the Bank’s bias for world class corporate governance standards, excellent service delivery and innovation, GTBank has been a recipient of numerous awards over the years. Some of these include Africa’s Best Bank and Best Bank in Nigeria from Euromoney Magazine, and Best Banking Group and Best Retail Bank by World Finance Magazine.

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