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Ecobank and GTB are currently leading in customers adoption of the eNaira. eNaira is Africa’s first Central Bank Digital Currency (CBDC) introduced by the Central Bank of Nigeria (CBN) in October. A report by TheCable says with more than 2,000 merchant wallets active, about 20 percent are domiciled with Ecobank, while GTB has majority of the consumer wallets activated by users amongst the top 10 financial institutions in the country.

According to the report, Ecobank is leading in merchant adoption, followed by Access Bank, Zenith Bank, Union Bank, First Bank, UBA, and Polaris Bank. Others banks in the top 10 list include Keystone Bank, GTB, and Wema Bank – in that order.

On the other hand, GTB is leading with majority of the consumer wallets activated by users from the top 10 financial institutions in the country. As far as consumer wallets go, GTB has more than 30 percent of the total activated consumer wallets held by all banks in Nigeria. Access Bank, Zenith Bank, First Bank, UBA, Polaris Bank, and Ecobank are the top seven banks with the highest number of activated consumer wallets.

In October, CBN unveiled the very first Central Bank Digital Currency in Africa with a lot of national and international interest on how well the electronic currency will perform and what problems it would solve in the banking and finance space on the continent.

As at November 29, 2021, about a month after eNaira went live, 589,000 downloads had been recorded for the digital currency across the iOS and Android app stores. That translates to an average of 20,000 downloads per day since launch.

 

Of the 589,000 downloads, 461,000 have been from the Android side of the market, while iOS downloads stand at only 128,000 downloads. Most of the downloads on both platforms happened in the first few days after the currency went live

As of November 29, 2021, there were at least 114,900 activated wallets. These wallets are broken down into two type: consumer wallets and merchant wallets. Consumer wallets stood at about 112,870 activated wallets. Merchant wallets were just a little over 2,000 wallets

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BUA Chairman, Abdul Samad Rabiu Donates 10bn Naira Security Support Fund For Various Interventions Through ASR Africa

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Leading Nigerian Businessman, Industrialist and Philanthropist, Abdul Samad Rabiu, paid a visit to President Muhammadu Buhari today in Abuja, to update him and to thank him for creating an enabling environment for business to thrive, and also brief him on the strides BUA Group has made in the past few years.

 

Thereafter, Rabiu briefed the President on the activities of his foundation, The Abdul Samad Rabiu Africa Initiative (ASR Africa) during which he also announced the donation of a N10billion Nigeria Security Support Fund from ASR Africa towards the provision of some security equipment, medical and other supplies, upgrade of health facilities and other infrastructure for families of those on the frontlines.

 

According to Rabiu, the visit was in order to identify with President Muhammadu Buhari, during whose tenure BUA has built over 10 factories with two of the Group’s subsidiaries now amongst the top 10 largest publicly listed companies in Africa, and to further support the efforts of his administration in business as well as in the security space.

 

In his response, President Buhari said it was heartwarming to see and hear of Nigerian companies doing so much within Nigeria, and Africa especially in the area of production using locally available raw materials. He also expressed his elation at the achievements of BUA which had led to phenomenal growth within such a short time. “As a Government, we know we have done a lot in this regard, and we will continue to do more to support the aspirations of serious businesses, big and small, by providing an enabling environment as well as supporting value creation within Nigeria.

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ECOBANK Staff Connives With Fraudsters To Steal Customer”s N3.2m

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A staff of Ecobank PLC, by name Joshua has been reminded in prison custody following the alleged fraudulent role he played in withdrawing a customer’s N3.2million from the vaults of the bank in connivance with some persons now at large.

 

The arrest of Joshua followed the eagle eye of the Bank’s management that discovered that the customer’s money was missing from the account and when Joshua, who had direct access to the account was asked to explain the circumstances that led to the missing money, he feigned ignorance and denied knowledge of it.

 

Not satisfied with his explanation, the bank situated at the Ile-ewe, Ejigbo branch quickly moved and reported the matter to the Ejigbo Division of the Nigeria Police which immediately dispatched its detectives from the Division of the Command in Lagos State to the bank.

 

 

The police after carrying out preliminary investigation into the case, arrested 28years old Joshua, a staff of the bank alleged to have connived with criminals and withdrew the customer’s N3.2m lodged with the bank.

 

It was gathered that the alleged fraud took place in May this year at Ejigbo branch of the bank where the suspect, Joshua, was employed and served as a staff.

 

The police after its investigation, alleged that sometime in May 2022, the suspect, Joshua, conspired with others now at large to steal by fraudulently diverting the customer’s money kept in the bank with the intention that it will not be discovered by the bank management.

 

 

Joshua was accordingly charged before the Ejigbo Magistrate Court for the alleged conspiracy and theft.

 

Joshua however pleaded not guilty to the charges brought against him by the police when he appeared before the Chief Magistrate O.A. Dosumu.

 

Following his not guilty submission, the police prosecutor, Inspector Simeon Njue, asked the Court to give a date for hearing to enable the prosecution to prove that he actually committed the alleged offence.

 

 

Magistrate Dosumu however, granted Joshua bail in the sum of N500,000 with two sureties in like sum, who the court ruled must show evidence of means of livelihood.

 

Joshua was however remanded at the Kirikiri Correctional Centre, Lagos, pending when he will be able to perfect his bail conditions.

 

The matter was adjourned till October 6, 2022, for mention.

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