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Business News

Protect your bank details; Don’t get scammed; UBA warns customers

United Bank for Africa (UBA) Plc, has called on its customers to exercise utmost caution in their banking transactions.

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UBA’s Executive Director, Chukwuma Nweke

Pan African financial institution, United Bank for Africa (UBA) Plc, has called on its customers to exercise the utmost caution in their banking transactions and ensure that they do not fall prey to any nefarious activities during the Coronavirus lockdown period.

Specifically, UBA has urged its customers not to divulge any sensitive personal information regarding their bank and or card details.

UBA’s Executive Director, Retail Banking & Payments, Chukwuma Nweke said the bank’s attention has been drawn to some fraudulent messages making the rounds, where customers have been asked to provide their card details for disbursement of funds into their accounts. He emphasised that customers should ignore such requests

“Some of our customers may have received a call or message asking for their card details and Bank Validation Number (BVN) for disbursement of COVID-19 funds. Others may have also received an email informing them of bonuses of between N30,000 and N70,000 upon validation of their bank details online.
It is important to note that these emails and messages did not originate from UBA, and we would never at any point in time ask for your account details over the telephone or via SMS, emails, live chat or social media.  We advise that you kindly delete these messages and do not entertain calls of this nature. Please also inform the bank of these incidences immediately they occur”.

(READ MORE: Lafarge, Wema, UBA, Dangote Sugar lead weekly gainers’ chart)

Nweke further stressed that personal banking details including passwords, usernames, card numbers, security numbers at the back of cards, BVN, OTPs, security answers and other sensitive information should not be shared with anyone as UBA would never ask for them online or through phone calls or text messages.

“Your card is for your personal use alone, do not give out your PIN and do not share any information regarding your card with anybody; if your card is missing or stolen please contact us immediately’ he said

In the event of doubt, please contact UBA’s Customer Fulfillment Centre which is open 24/7 on  0700 225 5822,+234 1280 8822,+234 1631 9822 or send an email at [email protected].

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    Real Estate

    FG to unveil dedicated portal for sale of houses to Nigerians

    The Federal Government has announced plans to launch a dedicated web portal for the sale of buildings to Nigerians in the next few weeks.

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    Nigeria needs N1.5 trillion within the next 3 years to fix roads - Fashola

    The Federal Government has announced plans to launch a dedicated web portal for the sale of buildings to Nigerians in the next few weeks.

    The platform is expected to help contributors to the National Housing Fund (NHF) access mortgage loans on a first-come, first-serve basis.

    This disclosure was made by the Minister of Works and Housing, Babatunde Raji Fashola while speaking at the ninth meeting of the National Council on Lands, Housing and Urban Development in Jos, Plateau State.

    Fashola, who was represented by the Minister of State for Works and Housing, Abubakar Aliyu, pointed out that the ministry is currently at the completion stages of the first phase of the national housing programme in 34 states of the federation, which provided land for it.

    He said, “We urge the state governments to alert their residents to this opportunity for interested persons to apply.”

    Fashola commended the Federal Mortgage Bank of Nigeria (FMBN) for being at the forefront of the cooperative housing initiative at the federal level, adding that it has the advantage of allowing cooperative members to choose what they design and build to fit their budgets.

    They can leverage their members to get group discount for the purchase of building materials as well as the engagement of contractors.

    Fashola disclosed that FMBN as the driver of the housing initiative has engaged 86 co-operatives in projects; approved N35, 784 billion cumulatively; disbursed N10.95 billion; and processed as at January, 57 co-operative housing development loans.

    Hotflex

    Fashola emphasized that what the Federal Government can do directly in housing is limited compared to what states can do, just as state governments are also limited, compared to what the private sector and individuals can do.

    He said, “The majority of houses available for sale or rent belong to individuals and private companies compared to what states or Federal Government has available. Therefore, many of the tenants who owe rent, who face eviction or who seek to rent or buy property are dealing with private citizens or companies and less so with government agencies.’

    My recommendation for improving access and affordability to housing in the Covid-19 era is for private companies and individuals to give back some of what they control to citizens in the way the Federal Government has given back to citizens some of what it controls.’’

    He explained, “for example in cases where the rent of businesses or individuals are due for renewal, the private landlords can give back, by accepting monthly, quarterly or half-yearly rent instead of one year, two or three years rent in advance.”

    Bottom line

    Nigeria has been bedevilled by a housing crisis that has left Africa’s most populous nation ill-equipped to properly provide accommodation for its citizens and inhabitants.

    Some of the housing problems in the country include unresolved rent tenure arrangements, high cost of building materials, access to infrastructure, deficiency of housing finance arrangements, stringent loan conditions from mortgage banks, time to process legal documents and inadequate government housing policies.

    Jaiz bank

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    Coronavirus

    Covid-19: Nigeria committed to procuring 29 million J&J vaccines

    The Nigerian Government is still committed to acquiring 29.59 million doses of Johnson & Johnson covid-19 vaccines through the Afrixem Bank AVAT initiative. 

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    on

    AstraZeneca suspends COVID-19 vaccine final stage trial over safety concerns, COVID-19: J&J starts vaccine trials on humans after success on monkeys

    The Nigerian Government says it is still committed to acquiring 29.59 million doses of Johnson & Johnson covid-19 vaccines through the Afrixem Bank AVAT initiative.

    This was disclosed Mrs Zainab Ahmed, Minister of Finance at the recent ‘Collaborative Africa Budget Reform Initiative (CABRI) General Assembly webinar.

    What the Minister said

    “Therefore, the supplementary budget for COVID-19 vaccines will cover the cost of additional vaccines over and above those provided by COVAX, as well as the full cost of operations and logistics for delivering the vaccines around the country.

    Already, the sum of N29.1 billion has been released from the Routine Immunization budgetary provision (Service Wide Vote) to the National Primary Healthcare Development Agency (NPHCDA) as an advance for the operational cost of deployment of the COVID-19 vaccines. The N29.1 billion represents about 52 percent of the amount required over 2021-22,” she said.

    She added that FG plans to vaccinate 70 percent of eligible (18 years and above) Nigerians over the 2021 and 2022 fiscal years, with the COVAX agreement willing to cover 43.1 million of the eligible population.

    In case you missed it

    The World Health Organization (WHO)  announced the approval of China’s Sinopharm vaccine for Covid-19 vaccination. The vaccine is reported to have 79% efficacy against covid.

    Continue Reading

      





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