Latest news with #USSD
Zawya
02-05-2025
- Business
- Zawya
Nigerians react to new N6 SMS transaction fee amid growing discontent over banking charges
NIGERIAN bank customers have expressed widespread dissatisfaction following the introduction of a new N6 fee for each SMS transaction alert, a policy jointly implemented by the banking sector regulator and the Nigerian Communications Commission (NCC). The revised fee, up from the previous N4 per SMS, took effect today and is expected to be automatically deducted from customers' bank accounts. According to Central Bank of Nigeria (CBN), the new structure was designed to replace the previous per-session USSD billing model and standardize charges across banks. The fee will be remitted to mobile network operators, with the apex bank stating that this change offers a more transparent and consumer-friendly billing framework. For numerous customers, especially low-income earners who rely heavily on USSD services for day-to-day transactions, the added cost is yet another financial burden. Critics argued that the move is not only ill-timed but could further alienate the unbanked population, undermining CBN's long-standing financial inclusion goals. 'This policy is out of touch with the reality of ordinary Nigerians,' said Mr. Yusuf Adebayo, a civil servant. 'Instead of encouraging people to embrace banking, it discourages them. A low-income earner making frequent transactions will feel the pinch of this fee over time.' Banks like GTBank and Fidelity Bank have encouraged customers to adopt their mobile banking apps, which do not incur SMS or USSD charges. Yet, some customers remained skeptical. One customer, who spoke anonymously, alleged that banks have been charging multiple telco fees for single transactions long before this policy was formalised. 'There are days when I get charged more than once for a single transaction,' the customer said. 'It feels like we're being bled dry from every angle.' On social media, Nigerians have taken to platforms like X (formerly Twitter) to express their frustrations and divergent opinions. One user, Arch Angel Jesse, downplayed the fee hike, suggesting the public outcry was misplaced. 'I don't think this is a problem the way the news is making it seem. Only N2 extra and it's breaking news!' Jesse posted. 'All the money lost in NNPC is still not making the news but N2 extra is breaking!!! Very few people understand where I am coming from, and that is still the problem of this country Nigeria.' However, another user, @asia_valking, offered a different perspective. 'N2 is not a problem? It will be when you receive alerts from 20 different transactions, or you multiply it by 50 million accounts. Their next target will be N10.' Joshua Eze, another customer, drew a comparison with telecom practices in the United Kingdom. 'In the UK, once you pay for your internet data, calls and SMS are essentially free. Think of providers with their flexible plans and no extra charges for calls or texts. Meanwhile, Nigerian business leaders keep adding burdens like this N6 SMS fee, doing more harm than good to citizens already struggling,' he said. Hyginus Ogbuike, a resident in Lagos, blamed both the government and its corporate allies for continually making life more difficult for Nigerians. 'It started long ago. If they can increase salaries by 100 percent across all levels, it will be tolerable,' he said. Several analysts have also weighed in on the debate, accusing banks of deliberately withholding in-app transaction alerts to force customers into accepting SMS-based notifications that incur charges. 'Normally, your mobile banking app should notify you of every transaction,' said one tech analyst based in Lagos. 'But Nigerian banks have intentionally left out that feature. Even when you go to the bank to cancel SMS alerts, they ask you to fill a form, and in many cases, the alerts still don't stop.' An anonymous top-level banker explained that the policy is backed by the CBN's Guide to Charges by Banks and Other Financial Institutions, which mandates SMS alerts as a safeguard against fraud. 'Banks are required to send SMS alerts on every account activity. It's not optional unless the customer formally opts out, and even that comes with legal risk.'
The Citizen
30-04-2025
- Lifestyle
- The Citizen
FNB nav» uses gamification to reward and improve money management habits among South Africans
The use of gamification is key to influencing behavioural change in the financial services industry. The most critical tasks and habits for better life outcomes are often the most difficult to implement. In fact, the world's largest online behavioural science destination, Psychology Today, outlines that bad habits are easy and good habits are hard. This reality extends across all parts of the human experience, from forming habits and rituals that cultivate a healthy lifestyle to those that ensure healthy personal finance and money management. Fortunately, global experts like game designer Nick Pelling, who was once tasked with developing game-like interfaces for ATMs and vending machines, developed the theory of 'gamification' after realising that game mechanics and concepts could be applied to non-gaming contexts. 'The use of gamification is key to influencing behavioural change in the financial services industry, where good habits can mean the difference between a healthy, secure bank balance and serious financial troubles. As we seek to provide meaningful help in the day-to-day lives of our customers at FNB, we combine integrated advice, technology and gamification to help them manage their money more effectively,' says Jolandé Duvenage, FNB's Chief Imagineer for nav». Milestone for FNB's nav» platform Incidentally, FNB recently announced a major milestone for its flagship nav» platform. Housed within its banking app and with USSD integration, the bank announced that 5 million customers now use its nav» Money tool, empowering millions of users with smart resources for personal finance management like budgeting. 'As we celebrate this milestone, we're also excited to give back to our customers by adding value to their lives beyond banking and rewarding their loyalty,' says Duvenage, adding that the success of nav» is also the success of the bank's customers. To mark the celebration of this milestone, FNB has designed a nav» Gamification Campaign geared towards encouraging customers to explore the nav» hub, take advantage of its powerful tools, and enter a competition for a chance to win amazing prizes, including: Mission 1: Win 1 of 10 PlayStation 5 Slimline consoles + 20 x R2000 KFC vouchers Mission 2: Win 1 of 10 iPhone 16 Pros + 20 x R2000 Nike vouchers Mission 3: Win the Haval H6 GT + 5 x fuel for a year in eBucks valued at R60 000 each 'The campaign went live on the FNB & RMB Private Bank App on 10 March — and we're already seeing some amazing engagement on social media. And it's more than just a competition, it's a chance to engage customers through exciting missions and tasks while, most importantly, improving their money management skills,' adds Duvenage. How to boost campaign entries The campaign, ending on 9 June 2025, has three missions allowing multiple entries per person – meaning better chances to win. Customers can boost their entries by: Completing app tasks on nav» (1 entry each) Finding and sharing the special competition badges on social media using the hashtag #FNBnavLife (100 entries each) Clicking and viewing offers in nav» (100 entries each) Switching their cheque account and transacting (100 entries each) To start playing, users can simply log on to the FNB Banking app, go to the nav» tab and follow the prompts. 'The success of FNB's nav» tool reflects the bank's commitment to delivering true help to our customers' lives in an innovative way that can really make a difference. And, as the platform continues to evolve, FNB remains focused on leveraging technology to create solutions that address the evolving challenges that South Africans continue to face – from financial inclusion to sustainability,' concludes Duvenage.
TimesLIVE
22-04-2025
- Business
- TimesLIVE
Game on: explore FNB's powerful nav» tools and stand a chance to win
'The use of gamification is key to influencing behavioural change in the financial services industry, where good habits can mean the difference between a healthy, secure bank balance and serious financial troubles. As we seek to provide meaningful help in the day-to-day lives of our customers at FNB, we combine integrated advice, technology and gamification to help them manage their money more effectively,' says Jolandé Duvenage, FNB's chief imagineer for its flagship nav» platform, which is housed within the FNB Banking app and features USSD integration. The nav» platform includes 'innovative digital tools that are designed to simplify life for FNB's customers and help them make smart financial decisions for themselves and their businesses'. FNB recently announced that 5-million customers now use its nav» Money tool — a major milestone that sees the bank empowering millions of users with smart resources for personal finance management like budgeting. 'As we celebrate this milestone, we're also excited to give back to our customers by adding value to their lives beyond banking and rewarding their loyalty,' says Duvenage, adding that the success of nav» is also the success of the bank's customers. That's why FNB has designed a nav» gamification campaign geared towards encouraging customers to explore the nav» platform, take advantage of its powerful tools, and enter a competition where they can complete missions to stand a chance to win amazing prizes. This includes: Mission 1: Win 1 of 10 PlayStation 5 Slimline consoles plus 20 x R2,000 KFC vouchers; Mission 2: Win 1 of 10 iPhone 16 Pros plus 20 x R2,000 Nike vouchers; and Mission 3: Win a Haval H6 GT plus 5 x prizes of fuel for a year in eBucks valued at R60,000 each. 'The campaign went live on the FNB and RMB Private Bank App on March 10 — and we're already seeing some amazing engagement on social media. And it's more than just a competition; it's a chance to engage customers through exciting missions and tasks while, most importantly, improving their money management skills,' says Duvenage. The campaign, ending on June 9 2025, has three missions allowing multiple entries per person — meaning better chances to win. Customers can also boost their entries by: To start playing, users can simply log on to the FNB Banking app, go to the nav» tab and follow the prompts. 'The success of FNB's nav» tool reflects the bank's commitment to delivering true help to our customers' lives in an innovative way that can really make a difference. And, as the platform continues to evolve, FNB remains focused on leveraging technology to create solutions that address the evolving challenges that South Africans continue to face — from financial inclusion to sustainability,' says Duvenage.
AFP
16-04-2025
- AFP
Post falsely claims Kenyan cabinet secretary involved in helicopter crash
'Police chopper carrying CS Aden Duale crash in Malindi,' reads the text overlaid on a TikTok post dated April 9, 2025. Image Screenshot of the false post, taken on April 14, 2025 The clip, shared 499 times, includes an image of Duale and a video labelled '2025' showing the wreckage of an aircraft surrounded by onlookers. The post, which has since been deleted, also included unrelated text promoting the Kenyan government's Financial Inclusion Fund, also known as the Hustler Fund. But the USSD codes provided to access the money are deceptive and do not follow the correct format provided by the government (archived here). Duale became the health cabinet secretary on March 26, 2025, after President William Ruto reshuffled his cabinet (archived here). He was previously the cabinet secretary of environment, climate change and forestry, and cabinet secretary for defence before that. On April 18, 2024, then defence force chief Francis Ogolla died in a helicopter crash, following which Duale said that an investigation report into the accident would be made public (archived here and here). A year later, the defence ministry released the report, revealing that the crash was caused by an engine malfunction (archived here). However, the TikTok video claiming that Duale recently met the same fate is false. Unrelated crash AFP Fact Check conducted reverse image searches on keyframes from the clip to find the original footage. A longer version of the video was published by Kenyan media outlet Nation on January 10, 2025 (archived here). '3 dead as light aircraft crashes on Malindi-Mombasa highway,' reads the video's title. The same helicopter wreckage - white tail with green, black and red stripes - and burnt debris scattered on the ground can be seen in both videos. Image Screenshots comparing the false post (left) and the original footage published by Nation According to a report by The Standard, the Cessna 182 aircraft was on a training mission and caught fire after crash-landing, hitting multiple motorcyclists in the process. Among those killed were the pilot, a motorcycle rider and a pillion passenger (archived here). The Kenya Civil Aviation Authority (KCAA) confirmed that the aircraft with registration number 5Y-CDC crashed two kilometres from Malindi airport (archived here). Duale was not on board. The incident was reported by other local and international media outlets (archived here and here). There are no credible reports to support the claim of Duale being involved in a helicopter accident. An incident that comes close was in July 2023, when a Kenya Defence Force chopper accompanying the helicopter Duale was in crashed on a security mission in northern Kenya's Turkana County (archived here). Duale's social media activity shows that he has been carrying out his ministerial responsibilities as usual. On the day the TikTok video was published, he presided over the signing of a contract at the Ministry of Health and was later hosted on the JKLive show on Kenya's Citizen TV (archived here and here).
Zawya
03-03-2025
- Business
- Zawya
Nigeria's new ATM fees: Customers groan as banks begin implementation
Banks have commenced implementation of the new Automated Teller Machine (ATM) transaction fee charge on customers following the Central Bank of Nigeria (CBN's) directive. The News Agency of Nigeria (NAN) correspondent who monitored some banks' ATM gallery in Abuja and environs on Sunday, reports that some customers were lamenting about the increase. NAN reports that all the banks' ATM visited had monies loaded in them. Mr Luke Abudu, a customer seen at First Bank along Nyanya-Jikwoyi road, said the implementation would only affect the poor masses who were struggling to make a living. Abudu said the move would discourage customers from lodging monies in the banks. 'I came to withdraw N20,000 but I found out that I was charged N100 for the withdrawal. This is too much for a small business owner like me,' he said. Another customer, Mrs Victoria Adejo, seen at Zenith Bank, Mararaba branch said that withdrawal from Point of Sale (PoS) agent was now cheaper than using an ATM. 'It is unfortunate that our government formulates policies without feeling the pulse of the people. 'I read that the CBN said the decision is in response to rising cost and to improve efficiency of ATM services but banks still bill us for service charge,' she said. Mr Nurudeen Ehimotor, a customer at Guaranty Trust Bank (GTB), Asokoro, said he was at the bank to use the ATM due to the bank's poor online network. 'I came to use ATM because I tried to transfer money from my bank using USSD since yesterday but it didn't go through. 'I have an issue with my app, so I have been using USSD codes for my transfer. I think they (the banks) are trying to make people use ATM now for them to make more money,' he said. Ehimotor appealed to banks to reduce incessant charges on customers' accounts. NAN reports that the CBN had on February 10, released a circular to all banks and other financial institutions to apply the fees with effect from March 1. CBN in the circular entitled: 'Review of ATM transaction fees,' said the move was in response to rising cost and the need to improve efficiency of ATM services in the banking industry. 'On-Us (customers withdrawing at the ATM of the customer's financial institution) in Nigeria, no charge. 'Not-on-Us (withdrawal from another institution's ATM) in Nigeria; On-site-ATMs: A charge of N100 per N20,000 withdrawal. 'Off-site ATMs: A charge of N100 plus a surcharge of not more than N500 per N20,000 withdrawal. 'The income which is an income of the ATM acquirer/deployer, shall be disclosed at point of withdrawal to the consumer,' it said. Banks had informed their customers through various electronic mails (e-mails) of the increase. GTB told its customers in addition to the ATM transaction fee, that the free monthly withdrawals usually enjoyed by them would no longer be applied. 'Please note that the three free monthly withdrawals at other banks' ATMs (for GTBank customers) and GTBank ATMs (for other bank customers) will no longer apply,' the bank said. SERAP has urged President Bola Tinubu to 'direct Mr Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN) to suspend the implementation of the increase in Automated Teller Machine (ATM) transaction fees, pending the hearing and determination of the lawsuit before the Federal High Court, Lagos challenging the legality of the increase.' SERAP also urged him to 'seek legal advice from the Attorney-General of the Federation and Minister of Justice, Mr Lateef Fagbemi, on whether the CBN has the legal responsibilities to uphold the rule of law its operations by suspending the ATM fee hike, pending the determination of lawsuit on the matter.' SERAP had last month filed a lawsuit against the CBN 'over the failure to reverse the 'patently unlawful, unfair, and unjust increase in ATM transaction fees.' The lawsuit followed the announcement by the CBN that ATM withdrawals made at a machine owned by a bank but outside its branch premises will now attract a charge of N100 per N20,000 withdrawn. ATM withdrawals at shopping centres, airports or standalone cash points, will incur a N100 fee plus a surcharge of up to N500. In the open letter dated March 1, 2025 and signed by SERAP deputy director, Kolawole Oluwadare, the organisation said: 'Directing the CBN to suspend the ATM fee hike would allow the Federal High Court to hear and determine the case on its merit.' The letter also read in part: 'It would also be entirely consistent with the letter and spirit of the Nigerian Constitution 1999 (as amended), your oath of office and oft-repeated promises to uphold the rule of law. 'Implementing the ATM fee hike while the lawsuit on the matter is pending before the Federal High Court would make a mockery of the judicial process and the rule of law. 'The CBN has the duty to maintain the status quo as of February 26, 2025 when the court processes were duly served on it and during the pendency of the lawsuit filed by SERAP on the ATM fee hike before the Federal High Court, Lagos.'
