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Companies

Experience convenience with FirstBank debit cards…Introducing the contactless naira MasterCard

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First bank contactless naira mastercard

Did you know that First Bank of Nigeria Limited has an array of debit cards specially designed for your convenience and ease of banking? These cards are acceptable nationwide and globally; they can be used to withdraw cash and access other value added services including bills payment, airtime recharge, flight and hotel booking among others. These cards are very secure with the best of modern chip and pin technology.

FirstBank has included the Contactless Naira Master card to its card variety and the cards all have unique attributes to support the lifestyles of different customer segments. FirstBank’s debit cards include the following:

 The Contactless Naira MasterCard

  • Make payments in the London transport network such as buses, tubes, trams, Dock and Light Railway (DLR) and the London Overground as well as in Grocery shops, supermarkets and Gas stations within London metropolis;
  • Builds a cashless society by promoting increased card usage for low value transactions. The daily limits for pin-less transactions are N3000 for the contactless naira master card.
  • Payments are made by tapping the card on the POS machine with contactless functions for low value transactions (the card can also be used in a regular POS as a normal MasterCard).

The FirstBank Verve Debit Card

  • It is accepted wherever the Interswitch or Verve logo is displayed and you can perform transactions via the Quickteller services menu on FirstBank ATMs
  • Chip & PIN secured for greater protection of customers’ funds and provides extra protection for web based transactions with the “Safetoken”.
  • This Card is Naira-denominated, issued in 15 minutes at FirstBank branches, saves time and is very easy to obtain.

The Expressions on Card

  • You now have the freedom to design the look and feel of your debit cards with your most cherished memories and spend with a card that is as unique as you.
  • The card is Naira-denominated and is accepted globally for online, ATM and PoS transactions.

Platinum Naira MasterCard

  • Naira-denominated international Debit card issued in partnership with MasterCard Worldwide, and enables transactions all over the world wherever the MasterCard logo is displayed.
  • Provides access to e-Commerce across the globe and enhanced security with the Europay MasterCard Visa (EMV) technology that greatly reduces the cloning of cards;
  • Gives you access to international emergency services such as card replacement and cash advance via MoneyGram or Western Union money transfer services.
  • Platinum Naira Master Card also grants access to higher daily transaction limits from FirstBank.
  • The card is accepted worldwide at over 29 million merchant locations, can be used for transactions over the WEB or POS as well as cash withdrawals at over 1.8 million ATMs, in over 200 countries. It is secured by Chip & PIN technology and is issued within 15 minutes at FirstBank branches.

The Visa Debit Card

  • Dual currency card denominated in NGN and USD, allowing you spend Naira from your Naira account and Dollars from your domiciliary account simultaneously.
  • The card has an EMV (Chip & PIN) card with enhanced security that ensures safety of funds and transactions.
  • The Visa Debit card is accepted globally for ATM withdrawals, POS payments terminals as well as online for goods and services.

You also need to know…

FirstBank is recertified to the Payment Card Industry Data Security Standard (PCI DSS) version 3.2, and this recertification reaffirms the Bank’s leading position in the payment card industry in Nigeria. Recently, FirstBank was named the first financial institution in Nigeria and the West-Africa sub-region to issue 10 million cards to customers across the country. This makes FirstBank the second bank in Africa to achieve this feat. With this milestone, the Bank has maintained a 95% active card ratio and currently processes about 30% of card transactions in the entire banking industry.

So, what are you waiting for…Visit a FirstBank Branch today to obtain your FirstBank debit Card…terms and conditions apply.

"NM Partners" represent articles published in partnerships with Corporate Organisations, Government and Non-Governmental Institutions, and other stakeholders seeking to publish content on Nairametrics. Content includes Press Releases, Targeted content, and other forms of corporate communications targeted at our readers. Some of these content are paid for.

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Appointments

Airtel Nigeria announces appointment of Surendran as new Chief Executive Officer

Airtel Nigeria, has announced the appointment of Mr C. Surendran as the new MD/CEO with effect from August 1, 2021.

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Like MTN, is Airtel Nigeria considering listing?

Telecommunications giant, Airtel Nigeria, has announced the appointment of Mr C. Surendran as the new Managing Director and Chief Executive Officer with effect from August 1, 2021.

Surendran would be replacing the outgoing Managing Director and Chief Executive of Airtel Nigeria, Olusegun Ogunsanya, who has been elevated to the position of Chief Executive Officer of Airtel Africa Plc with effect from October 1, 2021.

According to a report from the News Agency of Nigeria, this disclosure is contained in a statement issued by Airtel on Wednesday, May 5, 2021, in Lagos.

READ: Airtel Africa signs new $500 million loan with Bank of America, HSBC, others

The statement says that Surendran would also be appointed to the Executive Committee (ExCo) as Regional Operating Director, reporting to the CEO of Airtel Africa plc, and onto the Board of Airtel Networks (Nigeria) Limited.

Airtel in its statement said, “Surendran has been with Bharti Airtel since 2003 and has contributed immensely in various roles across customer experience, sales and business operations.

He was the Chief Executive Officer of Karnataka, which is the largest circle in Airtel India, with over one billion dollars in revenue.

Surendran delivered an exceptional performance with significant movement in Revenue Market Share (RMS) over the last few years, currently at 54 percent. He has over 30 years of business experience, including 15 years at Xerox.’’

Hotflex

Airtel said that Surendran would transition into his new role from June 1, 2021, and spend the time onboarding into the business until July 31, 2021.

READ: Meet the latest billionaires on the Nigerian Stock Exchange

In case you missed it

It can be recalled that a few days ago, Airtel Africa Plc, a leading provider of telecommunications and mobile money services in Nigeria and 13 other countries, announced the appointment of Mr Olusegun Ogunsanya as the new Chief Executive Officer, following the notice of retirement given by the current Managing Director/Chief Executive Officer, Raghunath Mandava, to the Board.

In the notification sent by Airtel Africa to the Nigerian Exchange, Ogunsanya is expected to join the board of Airtel Africa with effect from October 1, 2021.

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Companies

Our First Bank loan is being serviced, reduced by 30% in 2 years – Honeywell Group

The credit facilities accessed from First Bank were granted after due negotiations, with the necessary documentation and in line with regulatory policies and industry standards.

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Billionaire watch: Oba Otudeko’s stakes in Firstbank and Honeywell are worth N10.3 billion

The Honeywell Group has said that its loan with First Bank is being serviced as the conglomerate had reduced the facility by 30% in the last two and half years.

This was disclosed by the Group via a statement issued on Sunday and seen by Nairametrics.

According to the statement, the company and the bank have had a professional business relationship since 1975, which preceded the group’s investment in the bank over a decade later.

According to the Honeywell Group, the credit facilities accessed from First Bank were granted after due negotiations, with the necessary documentation and in line with regulatory policies and industry standards.

The Group further explained that following agreed terms, its facilities are adequately secured with First Bank with collaterals in place at over 170% of forced sales value and 230% at open market value.

It stated, “In 2015, First Bank under the directive of the Central Bank of Nigeria, drew our attention to a 2004 circular (BSD/9/2004) which requires that insider related facilities must not exceed 10% of paid-up share capital.

Based on this directive we subsequently entered negotiations with the bank to agree on an appropriate repayment structure and the final negotiated position was duly approved by the CBN.

In addition to the above, First Bank, on the directive of CBN, requested additional security in the form of FBN Holdings Plc shares held by the Chairman of Honeywell Group, Dr Oba Otudeko citing a 2001 circular. This was duly provided through an authorisation to place a lien on the shares.”

Honeywell Group has continued to meet all its obligations on its facilities with the bank according to agreed terms and has reduced its exposure by nearly 30% in 2.5 years. The facilities were charged at market rate and the bank continues to earn significant interest therefrom.”

What you should know

  • Nairametrics had reported when the Central Bank of Nigeria directed Honeywell to fully repay its obligations to First Bank within 48 hours, warning that failure to do so would cause the CBN to take regulatory measures against the insider borrower and the bank.
  • The Chairman of Honeywell Group, Oba Otudeko, also served as Chairman of FBN Holdings Plc until he was asked by the apex bank to go along with other directors on Thursday.
  • The apex bank had noted in a letter last Wednesday that First Bank had yet to comply with regulatory directives on divesting its interest in Honeywell despite several reminders.
  • Also, the CBN asked First Bank to forward evidence involving the divestment of interest in Honeywell Flour Mills and Bharti Airtel Nigeria Ltd within 90 days.

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