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How to Protect Your Debit Card From Fraud

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Debit card fraud is increasing on a daily basis because it is one of the easiest ways to get your hands on cash and at the same pay for online transactions.

The National Bureau of Statistics (NBS) said Automated Teller Machine from selected banks across the country recorded transactions valued at N39.15 trillion in the fourth quarter of 2018.

It said that the N39.15 trillion was derived from 616,528,697 transactions recorded as data on “Electronic Payment Channels in the Nigeria Banking Sector” during the period.

Regardless of this seamlessness and due to increased dependence on debit cards, you have to be circumspect as there are online and offline thieves desperately wanting to steal your information.

They will have unauthorised access to your account if you are careless and you will lose your hard-earned money.

With this understanding, here are ways to protect your debit card from fraud.

Also Read:  Fake Football Agent Arraigned Over N3.2m Fraud

Be careful when you use your debit card online

Many pay for their online transactions with their debit cards. However, before you punch in the numbers on your card and make a payment, ensure that the website is safe and secure. If you suspect anything, simply do not use your card. If what you are buying is important, contact the customer service team of the platform you are buying from.

Use ATM at a bank’s premises

Today, you will find ATMs at different locations that are not at the bank’s premises. For whatever reason, you should not use such an ATM. It is advisable to visit the one at the bank. In case of anything, you can easily walk into the banking hall to resolve any issues or lay a complaint.

Protect Your PIN

The way you handle your Personal Identity Number (PIN) can go a long way in determining the degree of your account security. Whenever you perform a transaction, guard your debit card PIN jealously as exposure can be fatal. Be warned.

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Check your card activities regularly

No matter how thorough and protective you are with your debit card and your PIN, you should always check your account activities. There is a tendency for you not to check because nothing has happened to your card. Be proactive and always check your account activities.

Report suspicious activities to your bank

If you notice any suspicious activities with your account or card, do not hesitate to report to your bank as soon as possible. You can reach your bank by calling them, sending them a direct message on social media and chatting them live on their website.

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Ugo Set To Take Music Industry By Storm

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German-based Nigerian music artiste, Ugo, has started the year with a bang, as he recently dropped a new single titled ‘Life Is Banana’.

The song is currently receiving positive reviews among Afrobeat music lovers.

Off the current rave from ‘Life Is Banana’ single, he has also revealed plans for future collaborations.

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Known to have consistently dropped singles since making his debut in 2014, the Ihitenansa, Imo State-born artiste is proud of his roots, as he maintains his real name, “Ugonna” and plays a vibe which crisscrosses between local and international vibes.

Already working on an RnB song likely to be released on 14 February, there is no doubt that lovers of good music will be hearing more from the artiste this year through his thrilling melody and sensational rhythm that has seen him maintaining his consistency.

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Galaxy Of Stars As Adenuga, Otedola, Wigwe Shine

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The trio of Mike Adenuga, Femi Otedola, and Herbert Wigwe share one thing in common, they are excellent in their individual businesses.

Over the years, Adenuga has turned Globacom into one of the leading telecommunication outfits in Africa, while Otedola has gone from being a success in the oil and gas industry to forging new frontiers in the energy industry.

Mike

Otunba Mike adenuga, CEO Globacom Limited

On his part, Wigwe has led Access Bank from a mere middle-level bank to an enviable financial institution providing support for the most elitist businesses.

Also Read:  Alleged $44.9m Fraud: EFCC Interrogates Air Peace CEO, Allen Onyema

Such is the achievements of these men that they couldn’t have gone unnoticed.

philanthropist

The business and personal excellence of the trio got celebrated recently when they picked up medals at the prestigious Thisday Award presentation.

While Adenuga was celebrated as Entrepreneur of the Decade, his firm, Globacom won the brand category. Otedola and Wigwe were celebrated with the former emerging Philanthropist of the Decade. Access Bank’s Wigwe emerged Banker of the Decade as his financial institution.

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FIRSTBANK WINS BEST MOBILE BANKING APP AND FASTEST GROWING RETAIL BANK AWARDS

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First Bank of Nigeria Limited has been named 2019 “Best Mobile Banking App” and “Fastest Growing Retail Bank” winner  by Global Business Outlook. The Global Business Outlook Award recognises and rewards excellence in business in companies across the world, both in the public and private sectors. The award rewards innovation, creativity and the drive to create value.

FirstBank earned the Fastest Growing Retail Bank recognition because of its leading role in promoting financial inclusion in the country, a drive which has resulted in its 44,000 Agent Banking network designed to complement the provision of bespoke financial services at its over 750 branches nationwide.

It also won the Best Mobile Banking App award thanks to its Firstmobile banking app’s capability at performing a wide range of financial transactions in a safe, adaptable, futuristic and efficient manner. The user friendly app is widely renowned for its ease of navigation and state of the art security features to mitigate risk against fraud.

In the course of 2019, FirstBank bagged numerous awards across various areas of its business operations. The awards comprise Women Empowerment Category – Sustainable Banking Awards by CBN Bankers Committee, Best Private Bank in Nigeria 2019 by Global Finance Magazine and World Finance Magazine respectively; Best Process Automation Initiative, Application or Programme by Asian Banker International Excellence in Retail Financial Services; Best Banking Brand Nigeria 2019 by Global Brands Magazine; Best Retail Bank in Nigeria by Global Banking and Finance Review and Asian Banker International Excellence in Retail Financial Services Awards respectively; Cashless Driver: Highest Volume in Bill Payments and Highest Transaction Volume in Real-Time Payments by CBN Electronic Payments Incentive Scheme (EPIS) – Efficiency Awards; Long Service Corporate Award by Nigerian Economic Summit Group; Best Financial Inclusion Program – Nigeria 2019 and Bank of The Year – Nigeria 2019  by International Investor, amongst many others.

Also Read:  Alleged $44.9m Fraud: EFCC Interrogates Air Peace CEO, Allen Onyema

Speaking on the awards, Folake Ani-Mumuney, the Bank’s Group Head, Marketing & Corporate Communications said, ”We appreciate the recognition of these awards by the respective awarding bodies. The awards are dedicated to all our customers across the globe as their continued patronage of our services is appreciated. We remain steadfast and would not rest on our laurels at rendering bespoke financial services tailored to meet the financial needs of our valued customers, irrespective of where they may be.”

 

About FirstBank

First Bank of Nigeria Limited (FirstBank) is the premier Bank in West Africa with its impact woven into the fabric of society. The Bank which has been sustaining its development-oriented services for over 125 years as the region’s foremost financial inclusion services provider, offers a comprehensive range of retail and corporate financial services through more than 44,000 business outlets to over 17 million customer accounts.

As a national icon and an international player, FirstBank is one of the most enduring financial services brands in Africa with international footprints extending through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone and Senegal, as well as a Representative Office in Beijing.

FirstBank has been nimble at promoting a digital economy in Africa and has issued over 10 million cards, the first bank to achieve such milestone in Nigeria. FirstBank’s financial inclusion and cashless transaction drive have resulted in over 228 million users on its USSD banking service through the nationally acclaimed *894# banking service and over 3.4 million users on its Firstmobile platform.

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Since its establishment in 1894, FirstBank has consistently built relationships with customers, focusing on the fundamentals of good corporate governance, strong liquidity, optimised risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank, one of Africa’s most sustainable financial services brands, provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.

FirstBank has been named “Most Valuable Bank Brand in Nigeria” six times in a row (2011 – 2016) by the globally renowned “The Banker Magazine” of the Financial Times Group; “Best Retail Bank in Nigeria” for eight consecutive years (2011 – 2018) by the Asian Banker International Excellence in Retail Financial Services Awards and “Best Bank in Nigeria” by Global Finance for 15 years. Our brand purpose is to always put customers, partners and stakeholders at the heart of our business, even as we standardise customer experience and excellence in financial solutions across sub-Saharan Africa, in consonance with our brand vision “To be the partner of first choice in building your future”. Our brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on our inherent values of passion, partnership and people, to position You First in every respect.

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