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CONFESSION: AS Banker Accidentally Uses Customer’s ATM Card 5 TIMES

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CONFESSION: AS Banker Accidentally Uses Customer's ATM Card 5 TIMES

In an incident that has sent shockwaves through the banking community, a banker recently came forward to share a startling story of how he accidentally used a customer’s ATM card multiple times.

The mishap, which unfolded over the course of a single day, highlights the potential risks and vulnerabilities associated with banking transactions, even within the confines of financial institutions themselves.

This blog post delves into the gripping narrative provided by the banker, shedding light on the circumstances that led to this astonishing series of events.

The ‘Mistaken’ Transactions

The banker, who wishes to remain anonymous, revealed that the unfortunate incident occurred on an otherwise ordinary Monday morning. As part of his routine tasks, he was responsible for processing numerous financial transactions on behalf of the bank’s customers.

However, due to a combination of stress and exhaustion, he inadvertently picked up the wrong ATM card from his desk and proceeded to make a withdrawal for a different customer.

Realizing his error seconds after the transaction, the panic-stricken banker attempted to rectify the situation immediately. However, before he could intervene, the customer’s account was debited five times consecutively for various amounts.

The repeated erroneous transactions left the customer’s account balance severely depleted, causing significant distress and inconvenience.

Facing the Consequences

Faced with the magnitude of his mistake, the banker took swift action by notifying his superiors and the bank’s management about the situation.

An internal investigation was initiated promptly to ascertain the facts and assess the implications of the incident. Additionally, the affected customer was contacted and reassured that the bank would take full responsibility for the error and work to rectify it as swiftly as possible.

READ ALSO: Nigeria Updates Its Future Of Work Report

Rebuilding Trust

While the bank took responsibility for the mistaken transactions, the incident significantly impacted the relationship between the institution and its customers. Rebuilding trust and credibility became paramount for the bank in the aftermath of this incident.

Measures were implemented to enhance internal controls, ensuring such errors would be minimized or prevented in the future. Customer service protocols were also revised to streamline communication channels and expedite resolutions for any future issues that might arise.

Learning from Mistakes

The incident serves as a stark reminder of the need for constant vigilance and adherence to stringent banking protocols.

It highlights the importance of continuous training and development for banking professionals, emphasizing the significance of mindfulness and attention to detail, especially when handling sensitive customer information.

What You Should Know

The banker’s account of the ‘mistaken’ use of a customer’s ATM card on five occasions serves as a cautionary tale for the entire banking industry. It underscores the potential consequences of human errors and the imperative need for institutions to have robust internal mechanisms to prevent and address such mishaps

Ultimately, this unfortunate event offers valuable lessons that can be instrumental in ensuring the safety and security of customers’ financial transactions.

By learning from these mistakes and implementing proactive measures, the banking sector can move forward with increased vigilance and accountability, fostering an environment of trust and reliability for their clientele.

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Tinubu approves $100m investment in African Energy Bank

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Tinubu approves $100m investment in African Energy Bank

Tinubu approves $100m investment in African Energy Bank

President Bola Tinubu has approved a $100m investment by Nigeria for class A shares in the proposed African Energy Bank, the Federal Ministry of Petroleum Resources announced on Friday.

It said the approval now positions Nigeria favorably to win the bid to host the multilateral $5bn Africa Energy Bank, which will finance Africa’s hydrocarbon deposits of oil, gas, and condensates and support energy transition and net zero 2060 commitments.

Announcing this in a statement signed by the Permanent Secretary, FMPR, Nicholas Ella, the ministry said, “President Bola Tinubu has approved a $100m investment from four agencies of the Ministry of Petroleum Resources, exceeding the minimum equity requirement of $83.33m for class A shares.

“This decision positions Nigeria favorably to win the bid, potentially reshaping the country’s oil and gas ecosystem.”

The ministry further stated that on Friday, the technical inspection team from the African Petroleum Producers Organisation, and Afrexim Bank – the joint promoters for the establishment of the African Energy Bank, completed their mission to validate Nigeria’s readiness to host the headquarters of the bank, set to be established in July 2024.

Following the first bidding round in early 2024, Nigeria, Ghana, Benin, and Algeria were pre-qualified to proceed to the final round of bidding.

These countries will compete for the right to host the supranational multilateral $5bn Africa Energy Bank.

“In our preparation for the bid, the Ministry of Petroleum Resources sought and obtained expert opinions from the Federal Ministry of Justice and consultants in January 2024,” the FMPR stated.

It added, “They reviewed and approved the bank’s proposed Charter, Establishment Agreement, ‘The Treaty,’ and Headquarters Host Agreement. This approval provided the impetus to proceed, and the Federal Executive Council and National Assembly are currently finalising the ratification process. This will ensure that the AEB receives the necessary privileges and immunities to operate in line with its global vision.

“To demonstrate the country’s commitment, Nigeria has identified a prestigious building in Abuja for the temporary headquarters and opened a secured data room for the technical team’s review. The application form for land for the permanent headquarters in the Central Business District of Abuja has been submitted for approval.”

The ministry also confirmed that the Federal Government was working diligently with Nigerian National Petroleum Company Limited, and the Nigerian Content Development Monitoring Board, to meet all eligibility criteria.

“Thus, the $5bn Africa Energy Bank, when headquartered in Nigeria, shall be the largest single foreign direct investment inflow into Nigeria in over two decades with its benefits including:

“The Africa Energy Bank ecosystem shall rank as the third largest bank in Africa and shall be the most prominent bank in Nigeria in terms of shareholders’ funds. It will significantly boost Nigeria’s Gross Domestic Product, employment, financial architecture, inclusion, and propel our economic diversification while supporting foreign exchange management strategies,” the ministry stated.

It said the bank would pivot the development exploration and investment initiatives by independent petroleum producers, commercial service providers, legal and local content drivers, and technology and skills development that would leverage the bank’s proximity to the market and scale up production and capacity.

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ASUU Threatens Strike Over Non-Constitution Of Varsities Governing Councils

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ASUU Threatens Strike Over Non-Constitution Of Varsities Governing Councils

ASUU Threatens Strike Over Non-Constitution Of Varsities Governing Councils

 

…Warns Tinubu Academic Staff Dying Over Cost Of Living

…NEC Reconvenes In Two Weeks To Take Decisive Action

 

ABUJA – The relative peace in the university sys­tem may once again come under jeopar­dy, following a fresh strike threat coming from the Academic Staff Union of Uni­versities (ASUU).

The academics gave Tinubu two weeks ultimatum to address all outstanding de­mands including delay in constituting governing councils for the universities since assumption of office as president.

ASUU’s fresh threat of industrial ac­tion is the first since the Tinubu admin­tion took over power on May 29, 2023.

The last time the union went on strike was in 2022 shortly before the end of the Muhammadu Buhari’s ad­ministration.

ASUU’s President, Em­manuel Osodeke, took to a briefing at its headquarters in Abuja on Tuesday, to lament their predicament, saying the living conditions of academ­ics is getting worse.

Osodeke noted that the leadership of ASUU received alarming reports on failed promises of the federal and state governments towards addressing the lingering is­sues that forced the union to embark on the nationwide strike action of February to October 2022.

Speaking further, Osode­ke noted that the National Executive Council of ASUU observed that there were no serious efforts to redress the ugly situation.

“Reports available to NEC indicate that an increasing number of Nigerian academ­ics died while thousands of others are nursing life-threat­ening ailments occasioned by work-related stress, absolute pauperization and multidi­mensional insecurity,” Os­odeke said.

Osodeke who faulted the salary increment approved by the Federal Government recently for academics, said, “Even with paltry salary award, the current take-home pay of a professor at bar is about $500 per month. In the face of a heightened tax re­gime, what a professor earns is about $400 per month which is a scandalous under-valua­tion of the scholarship.”

The body said it is imme­diately calling on the govern­ment to immediately set in motion the process that will lead to the review and signing of the Nimi Briggs-led rene­gotiated draft agreement as a mark of goodwill and assured hope for Nigerian public uni­versities.

Speaking on the dissolu­tion of the governing coun­cils by the Federal Govern­ment 11 months ago, Osodeke urged the citizens to hold the government responsible, “if the matter of the Governing Councils is allowed to snow­ball into an avoidable indus­trial crisis.”

Osodeke also noted that the position of the union remains unchanged over the issue of the Integrated Personnel and Payroll Information System popularly known as IPPIS.

In conclusion, Osokode said, “NEC condemns in strong terms the seeming re­fusal of the federal and state governments to decisively address all outstanding issues with the union; NEC rejects all the ongoing illegalities and flagrant violation of uni­versity autonomy in public universities as a result of non-reinstatement of Govern­ing councils and NEC shall re­convene after two weeks from the date of the NEC meeting to review the situation and take a decisive action to ad­dress the issues.”

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Aliko Dangote Foundation, WEF Announces 2024 Class of Dangote Fellows

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Aliko Dangote Foundation, WEF Announces 2024 Class of Dangote Fellows

Aliko Dangote Foundation, WEF Announces 2024 Class of Dangote Fellows

Aliko Dangote Foundation (ADF), in conjunction with the World Economic Forum (WEF) and Forum of Young Global Leaders (YGL), has unveiled gifted and high calibre individuals for the esteemed 2024 class of the World Economic Forum Young Global Leaders (YGL) Dangote Fellows.

ADF and WEF, in a release, said, “With great excitement and anticipation, ADF and WEF announce this year’s cohort, a group of visionary leaders poised to make impactful contributions to global development, innovation, and leadership.

The WEF YGL Dangote Fellowship, a partnership between the Aliko Dangote Foundation and the World Economic Forum, identifies, engages, and supports outstanding individuals under the age of 40 who demonstrate exceptional leadership potential in various fields.

This year’s class, according to ADF and WEF embodies the diverse talents, expertise, and commitment to positive change that characterise the YGL community.

The selected young leaders are: Alloysius Attah, Co-Founder & CEO of Farmerline, Ghana; Angela Oduor Lungati, Executive Director of Ushahidi Inc., Kenya; Judy Sikuza, CEO of the Mandela Rhodes Foundation, South Africa; Lelise Neme Sori, Commissioner at the Ethiopian Environmental Protection Authority, Ethiopia, and Nomasonto Motaung, Deputy Minister in the Presidency Government of South Africa, South Africa.

Others include: Oluwatosin Olaseinde, Founder & CEO of Money Africa, Nigeria; Veda Sunassee, CEO African Leadership University, Mauritius, and Thabile Ngwato, CEO & Co-Founder of Newzroom 405, South Africa.

A statement jointly released by ADF and WEF, indicated that “For the first time, the newly inducted Fellows will convene for a transformative three-day retreat in Geneva, Switzerland, organised by the World Economic Forum Foundation. The retreat aims to provide an unparalleled opportunity for the new class of Young Global Leaders to connect with their peers, deepen their understanding of the YGL community, and align themselves with its core values.

“This gathering underscore the commitment of the Forum of Young Global Leaders to foster collaboration, innovation, and sustainable leadership among the world’s most promising young change-makers.

“We are thrilled to welcome the exceptional individuals who make up the Class of 2024 Aliko Dangote Fellows,” said Fatima Aliko Dangote, Aliko Dangote Foundation Board Trustee member. “Their diverse backgrounds, bold ideas, and unwavering commitment to driving positive change will undoubtedly enrich our community and contribute to shaping a more inclusive and sustainable future for all.

“We believe that these remarkable individuals will not only benefit from the resources and opportunities provided by the WEF YGL Dangote Fellowship but will also leverage their talents and expertise to address some of the most pressing challenges facing our world today,” she added.

Young Global Leaders are selected from a variety of sectors such as business, government, academia, media, non-profit organisations and arts and culture, and from all regions of the world. Young Global Leaders engage in initiatives that address specific challenges of public interest with the objective of shaping a better future

The honour, bestowed each year by the Forum, recognises young leaders from around the world for their professional accomplishments, commitment to society and potential to contribute to shaping the future of the world.
The 2024 honourees will become part of the broader Forum of Young Global Leaders that convene at an Annual Summit, which are integrated into events organised by the World Economic Forum, and organise events of their own, as well as launch and lead their own innovative initiatives and task forces.

These activities enable YGLs to learn from and with each other; build knowledge and engender a better understanding of global challenges and trends, risks and opportunities; and further enhance their unique role as leaders within their own organisations, the World Economic Forum and the broader global community.

Past YGLs include: Uche Pedro, Founder & CEO Bella Online Media, Tokini Peterside, CEO Art X Collective, Oluseun Onigbinde, Co-founder BudgIT, Adebola Williams, CEO Red Media Africa, Dr. Tolu Oni, Associate Professor University of Cape Town & University of Cambridge

Others are: Iyinoluwa Aboyeji, (ex-)CEO Flutterwave (now CEO Fund for Africa’s Future), Lois Auta, Founder & ED Cedar Seed Foundation, Ada Osakwe, Managing Partner Agrolay Ventures, Cynthia Mosunmola Umoru, Founder Honeysuckles PTL Ventures, Simon Kolawole, Founder & CEO Cable Newspaper, Tara Fela-Durotoye, Founder & CEO House of Tara, among many others

Since its inception in 2011, the partnership between the Forum of Young Global Leaders and the Aliko Dangote Foundation has been instrumental in nurturing Africa’s next generation of leaders. Over the past decade, the Foundation’s support has empowered over 115 YGL Dangote Fellows, enabling them to accelerate their impact and catalyse lasting change across the continent and beyond.

The Aliko Dangote Foundation Fellows join a prestigious network of over 1,400 Young Global Leaders from diverse fields including business, government, academia, and civil society. Together, they represent a powerful force for driving positive change and addressing the world’s most pressing challenges.

The Forum of Young Global Leaders, established by the World Economic Forum in 2004, is a unique, multistakeholder community of more than 1,400 outstanding young leaders from around the world. Each year, the Forum recognises the most innovative, enterprising, and socially minded individuals under the age of 40 who are pushing the boundaries of global leadership and making a positive impact on society.

The Aliko Dangote Foundation, established by foremost Nigerian industrialist and humanist Aliko Dangote, is committed to improving the quality of life for people across Africa by supporting initiatives in health and nutrition, education, and economic empowerment.

The World Economic Forum is the International Organisation for Public-Private Cooperation. The Forum engages the foremost political, business, cultural, and other leaders of society to shape global, regional, and industry agendas.

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