Business
Customers Decry New Policy On Banks’ ATMs
Recently, bank custom
ers who use the Automated Teller Machine (ATM) received text messages informing them of a new policy that would require them to apply for fresh cards from their parent banks should their cards be seized by bank ATM machines other than their main banks.
Such text messages further went to say that such trapped cards would be regarded as being destroyed and cannot be used for further transactions event if the unfortunate user retrieved them.
Our correspondent who went to town to sample the opinions and reactions of the people reports that the development has not gone down well with the people.
For Timothy Jacob, it was a ploy to defraud the unsuspecting public of their hard-earned money.
He explained that it was not the fault of members of the public that the ATM machines were not working efficiently, even as he advised the banks to reverse the order.
For Clement Wiyo, a pharmacist, the tricks of the banks was not lost to Nigerians.
According to him, Nigerians were now wiser than before and everybody knows that every new ATM card attracts a fee of not less than N1000.
He said what the banks should look forward to was to make their machines work efficiently and not allow the public to pay for their inadequacies.
For Charity Mbata, a hair dresser, “the banks are desperate to make money.”
She questioned the rationale behind such a policy given the fact that not all the branches of the banks were available especially in the semi-urban and rural towns of the country.
Describing the policy as bad for the generality of the people, she accused the banks of not doing a study of the policy before implementation.
A designer and Managing Director of Chutex Fashions Ahoada, the policy could be described as a test and wished the banks to discontinue with the policy.
He explained that there was no way the policy could work given that banks only concentrate their branches only in commercially viable places.
Highlighting further, he said in the whole of Rivers State, Omoku in Ogba/Egbema/Ndoni local government area of the state was the only place that has a high concentration of banks apart from Port Harcourt, the state capital.
The policy according to him, then means that anyone with the UBA/ATM, who lives in Ahoada could only go either to Port Harcourt or Omoku for a new ATM card if his or her card was seized, given the fact that Ahoada has only two banks, namely, First bank and Ecobank.
For Dum Johnson, a choral master, the policy is capable of discouraging people from saving.
He reasoned that since it was viewed that majority of account holders were small-time savers, the development was capable of making them have a rethink.
Further, he said since banks only allow people drawing above N100,000 go into the bank halls, then the essence of having an ATM card would no longer be meaningful for low savers, even as he said the more you apply for new cards the more your money goes.
However, efforts to speak with the Branch Zonal Manager, Central Bank of Nigeria (CBN), Port Harcourt, was not successful, but a source at the bank which asked not to be named said the banks were merely implementing a CBN directive.
He said it was natural for people to feel bad about policies that do not favour them adding that when the CBN ordered banks across the country to stop charging a fee of N100 for ATM operations not relating to one’s bank, no body complained.
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter