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Prudential Announces Africa Cup of Nations 2021 Sponsorship

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Prudential Africa

Prudential Africa has signed a sponsorship agreement with the Confederation of African Football (CAF) to become the official insurance partner of the ongoing 33rd edition of Africa Cup of Nations (AFCON) 2021.

At a press conference to announce the sponsorship, Eric Mboma, Chief Representative Officer, Prudential Northern Africa Region noted that the sponsorship underscores Prudential’s commitment to the African continent.

“As we grow our business in Africa, we also want to support the passion and talent of its people. Africans share a common love for football and we are honored to be part of a tournament that unites the continent and brings together the brightest talents of African football”, he said.

Mr. Mboma added, “Through sports, Prudential wants to encourage people to stay active and lead more healthy lifestyles. As a life insurer, we believe that health and wellness are important for people to live fulfilling lives.”

Commenting on the partnership, Confederation of African Football (CAF) General Secretary Mr. Véron Mosengo-Omba said, “We are excited and pleased to have on board Prudential as a partner. We share a common purpose in our commitment to developing local talent as well as driving prosperity for the people of Africa.”

AFCON 2021 started on January 9 and will run till February 6, 2022 with Cameroon as the host nation.

Prudential is a global financial services group providing life insurance, pensions and asset management products and services to approximately 20 million customers in Asia and Africa. Prudential has life insurance operations in eight countries across Africa: Cameroon, Cote d’Ivoire, Ghana, Kenya, Togo, Uganda, Zambia and Nigeria. For nearly a decade, the life insurer has been providing affordable insurance and health solutions. Today, it serves more than 1.7 million customers through a distribution network of more than 13,000 agents and 600 branches.

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Sterling Bank Worker On The Run Over N300m Belonging To Customers

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Sterling Bank Worker On The Run Over N300m Belonging To Customers

One Favour Fame-Eruagbere, who works with Sterling Bank Plc in Delta State, is currently on the run after defrauding customers of the financial institution of N300 million.

According to multiple reports, the female Sterling Bank staff approached some account owners to grant her permission to use their money for a business.

Fame-Eruagbere allegedly did this on the promise that she would be giving each of them a certain percentage every month.

However, one of the bank’s customers who raised an alarm on the matter, noticed that she stopped reporting to the bank, and she could no longer be reached via her mobile phone as her lines became unreachable.

When the customer embarked on a journey to her house around Living Faith Church at water resources, Effurun, she discovered that Fame-Eruagbere had absconded.

The whole thing backfired when many people she gave money to, refused to pay back. I think the lady didn’t run away with the money, but she is only being owed by those she gave the money to.

She is nowhere to be found, nobody knows her whereabouts, whether she has travelled out, dead or still alive.

In fact, the office is in crisis, as many people might be sanctioned because of the issue, especially the operators who carried out the transactions for her,” a source familiar with the matter stated.

What this means for Sterling Bank

With this development, Sterling Bank will have to fight to be reputed to the investing public, customers, and shareholders. This is because, amongst other things, trust is the most valuable asset for financial institutions.

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FG Assures Nigerians Of Fuel Scarcity Resolution

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FG Assures Nigerians Of Fuel Scarcity Resolution

The Federal Government has assured Nigerians of resolving the long queues at petrol stations brought about by fuel scarcity.

The Chief Executive Officer of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed disclosed this to newsmen, saying that Authority is monitoring all petrol stations.

“We are actually trying to monitor the dispensing to ensure that all the stations with petrol are dispensing all their trucks to reduce the long queues and ensure efficiency in service.

READ ALSO: Presidency Says NEC Yet To Decide Fuel Subsidy Removal Date

“We are monitoring the depot sales also, checking the number of trucks that loaded; this is a serious fact which we look at.

“There has been a lot of improvement in the distribution of PMS, we have gone round the Airport road and saw a lot of stations selling and discharging fuel.

“The queues are not long like before and the average trucks we have received in Abuja in the last three days are about 140 trucks against 70 trucks to 80 trucks received before; so there is a lot of improvement.

“Credit also goes to transporters because now they are reacting to the President’s offer of additional N10 as an incentive on their transportation charges. At least we are seeing the improvement.”

He said inspection is being carried out, aimed at taking action to enforce the regulations by following up warning given to the oil marketing companies, particularly those selling over the official price.

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N23Bn Scandal: MTN’s MoMo Request Refund From 18 Commercial Banks

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N23Bn Scandal: MTN’s MoMo Request Refund From 18 Commercial Banks

MTN Nigeria’s banking subsidiary, Momo Payment Service Bank Limited (MPSBL), has filed a suit, requesting customer refunds from 18 commercial banks.

The suit which was filed by the mobile money bank’s lawyer, Lotana Okoli SAN) stated that the 700,00 transactions performed were all fraudulent.

Adding further, Momo also requested that customer information into whose accounts were funded should be revealed.

“Under the Central Bank of Nigeria (CBN) Regulation on Instant (Inter-Bank) Electronic Funds Transfer Services, made pursuant to sections 2(D), 33(1)6) and 47(2) of the CBN Act 2007, it is incumbent on the banks to make refunds and provide the required information. He revealed.

READ ALSO: Apple Preparing to Release a “Flood” of New Products this Fall

The Chief Executive Officer (CEO) of MPSBL’, Anthony Usoro Anthony said in a supporting affidavit that his bank suffered “a system exploitation” on May 24, 2022, during which 700,000 transactions were processed with credits being made into about 8,000 accounts in the 18 banks being requested to make the refunds.

“Upon becoming aware of the incident, the service was shut down, to limit the impact and triggered engagements with the defendants (the 18 banks) through the Nigeria Inter-Bank Settlement System (NIBSS) for the commencement of recovery activities from the accounts of the various beneficiaries in the various banks. He said.

“We were able, through system checks, to confirm the banks and accounts into which the various sums of money were transferred into.

“We were also able to confirm how much was paid into each bank account in total. The said list of accounts that received the funds was made available to the respective banks as a preliminary step to mitigate the applicant’s losses.

“The transfers were due to the fact that the plaintiff suffered system exploitation which led to the said debits.

“There is no transaction between the plaintiff and the recipient account holders that warranted the transfer of the funds to that account.”

Anthony added that his organization’s resort to the court was informed by the bank’s insistence that they needed to be ordered by the court before they could act.

The MPSBL CEO stated that the organization was “carrying out investigations internally and externally to ascertain the actual cause of the debits”.

“The defendant banks have requested an order of court mandating the defendant banks to reverse the credits made into their customers’ accounts before the defendants can do so. “

“The plaintiff is entitled to a return of its money and has demanded the return of the money into its settlement account in the name MOMO PSB settlement account number: 2041379385 held in First Bank Plc, Samuel Asabia House, 35 Marina, Lagos.

“It is the understanding of the plaintiff that prior to the defendant banks being informed of the fact that the credits into their customer accounts were unauthorized that some withdrawal transactions had already been carried out by some of the customers.

“This has necessitated the application for information regarding these customers and the banks and accounts to which they transferred the said funds in order to enable the plaintiff to trace the funds to those banks.

“By virtue of the provisions of the CBN Regulation on Instant (Inter-Bank) Electronic Funds Transfer Services, made pursuant to sections 2(D), 33(1)6) And 47(2) of the CBN Act 2007 the plaintiff is entitled to a return of its money and the provision of the information which it requires from the defendants.

“The plaintiff is also entitled to the support of the defendants in the recovery of any sums which have been removed from the customer accounts in the defendant banks the reliefs it is aiming in this action.”

The plaintiff is praying to the court for the following reliefs:

* A declaration that the deposits of an aggregate sum of N22,300,000,000.00 erroneously transferred by the plaintiff to the accounts of the customers of the defendant banks, having been done in error, belongs to the plaintiff and not the customers of the defendant banks.

* An order directing the defendant banks to each, individually, account for the sums available in their customers’ accounts and the sums which have been removed by the customers and are no longer available.

* An order directing the defendant’s banks to immediately return the aggregate sum of N22,300,000,000.00, less those funds that are no longer available, to the plaintiff’s settlement account in the name MOMO PSB settlement account number: 2041379385 at First Bank Plc Samuel Asabia House 35 Marina, Lagos, from where the funds originated.

* An order directing the defendant banks to release all information, including account name information in respect of the accounts from which the plaintiff’s funds have been transferred to third parties, including the destination accounts and the banks in which they are held to assist in the tracing and recovery of those funds.

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