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Nasuba Express Targets Billions of Naira Transfer to Nigeria-Meyer

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Jean-Claude Meyer is the executive director of LC2 Group, promoters of Nasuba Express. LC2 has footprints in broadcasting, telecommunications and interconnection sectors. Mr Meyer has lived in Nigeria for over fifteen years and has used his contacts in the country to drive the company’s new product in Nigeria. He spoke to emeka okafor on the new product.

Nasuba Express
Nasuba Express which is promoted by LC2 group is originally a telephone card company enabling people to reach home at cheaper rate. As we evolved, we started to work on how people can also get news back from home. Then we rapidly created a television channel which is also available live on the internet and of course across Western Africa. Then we evolved the idea thinking how the teeming population can now send money back home without using the traditional money transfer offices which are usually very problematic in the fact that you need to follow up during working hours and you have to physically go there.
It is also dependent on fund availability at the receiving end and of course the time delay also considered. Sometimes it can take you days and if it is a weekend, how do you do to address the immediate need or problem? We then created the Nasuba Express Card. It was originally targeted at the Diaspora to be able to have a Visa card that can be accepted anywhere around the world. Rapidly we actually saw the possibility in the card being a tremendous tool to bank the unbanked because it does not require bank account. Any bank partnering with us can freely dream of an increasing 15million card holders. Not only that we have an ingenuous card loading system, which amongst other ways uses the scratch card.
Scratch card is a possibility which means just like people have been using scratch card to recharge their phones, you will be able to load your money onto your card on Nasuba Express directly using your scratch card. There’s no need to go to the bank to deposit your money, no need to have a banking relationship in the first place, you just walk a minute away from where you are. Scratch cards will be distributed just like the telephone scratch cards. You get it and you scratch and in a minute your money is loaded on your card.
Partnership with Visa Card & MasterCard
We are fully licensed by Visa and they have helped us to develop this product as a matter of fact. All our call centres, monitoring platforms are fully approved and licensed by Visa International and Vocalcom. Our approval and license is worldwide. Every single continent that has Visa will be working with our card. We are in full partnership with Visa and Master Card.
Loss of Card: This is very simple. You have to call us usually within 24 hours telling us that you have lost your card or it’s been stolen or damaged. At this point we cancel it and we simply ask you to get another card. Since these cards are not nominated you can naturally pick them up from retail approved point or from the base itself. Once you have done that, just call us again and tell us your new card number and we will reload all the money you had on that very card that was lost, damaged or stolen. So your money is safe. Handling cash invites the risk of losing the cash or have the risk of getting robbed and this has direct implication on your health obviously and on your finances. With this card, you don’t need to spend more that a minute with cash in your pocket. Right away as you get your salary or get paid for whatever it is, you get a scratch card and load the money onto your card and you can be withdrawing from it with a lot of securities behind it like secret question, and PIN. If you are confronted by armed robbers let them have the card and afterward give us a call and we cancel the card and issue you another one with all your money intact.
Security Features: First of all, like every debit or credit card that exists, the security features are minimally the same. Like I said before we are fully Visa approved which means that they also considered our security procedures and ensured that what we have in place is valid against transfers and any form of attack. But we have implemented extra security features simply because we don’t want to suffer from any kind of bad reputation. These security features that normal banks don’t normally always have are first of all security questions that only you will testify to us indirectly to our call centre. You will be the one telling us what you want the question to be and the answer. If you fail to supply the correct answer, no matter you are the real owner of the card you won’t be able to access the money online unless we go into ID verification. Any other card, what you need is to find the PIN, if you are chip and PIN enabled, which we have to commend the CBN for their new regulation about enforcing the EMV compliance in Nigeria. It’s not like this all over the world but it is a very good thing that Nigeria, being the leading economy in Africa is enforcing it. We will completely enforce this on all our cards not only in Nigeria but across the world. On top of that we offer some extra security steps.
Nasuba Express and International Regulations
Like I said, all our products will be chip and PIN. Not only that all the international security regulations and all the legal aspects have been fully abided to with the card. In each of the country where we are launching Central Bank regulations will be followed. There is no case our card will constitute itself to money laundering or to any other activity that is deemed illegal by the Central Banks of each country’s operations.

Competition with Other E-Payment Solutions
First of all, let me say one thing, there’s no other single product in the world that does what Nasuba Express Card does. Some e-Payment companies or products will let you transfer money from card to card but that is done with bankable bank account to obtain the card. Ours doesn’t require bank account. We are also viable solution to bank the unbanked like telephone. Because our card does not require a bank account, it is easily acceptable unlike other e-payment solutions that claim they bank the unbanked with bank account. In this case people have to go to the bank to load their account and go through other processes. Our solution is the scratch card which will be easily available. As soon as you have the cash, you just have to walk a minute away from where you are, get the scratch card and give the money to the person that has the ticket or the PoS in the approved retail and load the money directly into your card.
Targeting the Unbanked
Our target is not the unbanked, not the Diaspora. Our target is to ensure that the one trillion naira that goes into the cash business yearly is secure. Our target is hundreds of billion being transferred from one place to the other either locally or internationally transferred inward into Nigeria. Those are our target. All those monies in the hands of the unbanked, the Diaspora, we want to convince all of them to use our product so that we carry their funds safely in a very reliable fast and cheap manner because we are very cheap.
Accessing the Rural Area
As our card does not need a bank account, as you would know you don’t have many bank branches in the rural areas, so that first of all gives us a step. With us, you don’t need a bank account, you don’t need to go to the bank neither do you need bank relationship. Our card is easily deliverable in the rural areas since it is not nominated and there are many ways of marketing it and getting it across the rural areas. We could very well think of a marketing way like a truck with a couple of marketing people on board and internet connection such as 3G that MTN,  Glo and other telecom companies provide, and they go to the rural area in different regions explaining to the people what we provide. In the rural areas you can find the scratch cards. 63 million Nigerians have telephone that means the number does not exclude people in the rural areas. It also means that people in the rural area have access to scratch card and that is all you need once you have access to your card so it is very easy for us to implement in the rural area.
How We Make Our Profit
I was having a meeting the other day with bank representatives and I actually told them that our product would become very cheap. Ours is usually so cheap that it is cheaper than known money transfer alternatives for example. The banks will ensure that the rate is cheap on the local market because they are an active part of fixing the rate, but on the international market we will ensure that it is cheap. Our brand colour is red; black and white which are also the colours of Santa Claus. We don’t value the amount for transfer, we value volume. We are in other countries all around the planet, we have volume advantage. Our card is not an exclusive product and will be available to all banks in Nigeria, therefore the market is complete and we are ensuring volumes. Our card also is marketed in the same way in other countries of the world.
Actual Launch of Product in Nigeria
In Nigeria, we are actually working on that. We are in very good terms with many different banks, not all of them by any mean. The feedback we get from the banks is really encouraging. Provided that we finalize with the banks soon enough we don’t need a couple of months, let’s say four months maximum to be on every street in Nigeria. As soon as every aspect legal, financial, marketing, and partnering is finalized to the level we would consider sufficient and deem acceptable to present to the Nigeria population, then we would launch. We have Nigerian partners that are working with us to achieving that goal. We are working hand in hand with many different Nigerian companies and individuals to make sure that Nigeria hits the market in a very hasty manner.
Telecoms Companies
For sure, they are very important to our business. We will be mutually beneficial. Of course everybody that is calling for our card is doing that through a telecom company. Also we are talking with telephone companies thinking how we can try and save cost for them by issuing Nasuba scratch card which people can use to reload their phones.
 

 


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Dufil Takes Donation of Indomie Noodles Cartons to Vulnerable Communities in Abuja and Environ

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In line with its commitment to provide critical support to indigent members of communities around the country in the face of the ongoing economic challenges, Dufil Prima Foods Limited, makers of Indomie Instant Noodles, in partnership with Golan Helps Abuja Food Bank Initiative (GHAFBI) and Meluibe Foundation on Wednesday, April 17 distributed Indomie noodles cartons to vulnerable communities in Kuje and Kubwa Local Government Areas in Abuja.

With the goal of alleviating hunger and supporting communities across Nigeria, Indomie Instant Noodles has committed to donating a substantial quantity of noodle packs to various NGOs working tirelessly to address food insecurity.

These organizations play a crucial role in reaching remote and underserved areas, ensuring that nutritious meals reach those who need them most.

“We are deeply committed to making a positive impact in the communities where we operate,” said Olusola Olayinka Idowu OON, former Permanent Secretary, Budget and National Planning, and the CEO/Founder of GHAFBI.

“At GHAFBI, we believe that everyone deserves access to wholesome and nourishing food. Our partnership with Dufil Prima Foods to donate Indomie Noodles packs is a big step towards addressing food insecurity and supporting vulnerable communities in Abuja”, said Idowu who was also the former National Conveyor, UN Food System Dialogues in Nigeria.

Speaking in the same vein, Obialunanma Nnaobi-Ayodele, Executive Director, The Meluibe Empowerment Foundation, expressed her gratitude to Indomie Noodles for the partnership. “Our vision as an NGO is to change the world one step at a time, by providing relief and support to vulnerable communities.

This is achieved through collaborations and partnerships, one of which is what we have done with Indomie Noodles. We remain grateful for their support through this food relief initiative”, she said.

By partnering with NGOs, Indomie Instant Noodles works closely with local leaders and community heads in directly engaging with rural communities to distribute noodle packs and provide immediate relief to families facing hunger and ensuring that food assistance reaches those who are most in need, especially in hard-to-reach areas.

“We are grateful for the opportunity to collaborate with NGOs and community leaders to make a meaningful difference in the lives of people facing food insecurity”, said Temitope Ashiwaju, Group Corporate Communications and Events Manager, Dufil Prima Foods Limited. “Together, we bring hope, love and relief for all”.

The community leaders and some of the beneficiaries also expressed their immense gratitude to Indomie for the support, stressing the impact the products donated will have in alleviating hunger in their communities.

Speaking at the outreach centre, His Royal Highness, Muhammed D. Jibril, Community Leader of Gbazango Community in Kubwa Local Government Area said: “I am very grateful to Indomie Noodles for coming to our aid in these challenging times. I pray for more expansion and growth for the business and may God bless Indomie Noodles”.

Other communities who benefited from the product donations include Wunmi, Tondo, Godoji and Shazhi communities in Kuje Area Council of Abuja.

Dufil Prima Food’s donation of Indomie Noodle packs underscores its commitment to corporate social responsibility and its dedication to supporting communities in need. By providing essential food relief, Dufil Prima Foods is contributing to the well-being and resilience of vulnerable populations in Nigeria.

Indomie Instant Noodles remains dedicated to bringing joy to mealtimes and making a positive impact in communities around the world.


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Empowering Nigerian Retail: The Promise of Pay on Delivery

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E-commerce in Nigeria has evolved exponentially in recent years, transforming the retail landscape and reshaping consumer habits. From the early days of skepticism and distrust to today’s thriving online marketplaces, the journey has been marked by innovation, adaptation, and perhaps most importantly, the establishment of trust and security between buyers and sellers. At the core of this transformation, Pay on Delivery (PoD) has emerged as the unsung hero of e-commerce.

The premise is straightforward: customers could place orders online and pay for their purchases only upon receipt. This innovative approach not only addressed concerns about security but also provided tangible reassurance to hesitant buyers. In countries like India, Nigeria, and Indonesia, where a significant portion of the population remains unbanked or underbanked and where distrust in online transactions and fraudulent activities were once rampant, Pay on Delivery has emerged as a lifeline for both consumers and businesses. Many consumers were understandably hesitant to part with their hard-earned money before receiving their desired goods. Pay on delivery bridges this trust gap, offering reassurance to buyers and empowering them to transact with confidence.

In Nigeria, despite the adoption of a wide range of electronic payments, cash is still king. The results of a survey conducted in 2021 show that cash remains the dominant payment method, reflecting the ongoing preference for tangible transactions over digital ones. In addition, a recent report by ongoing preference for tangible transactions over digital ones. In addition, a recent report by Oxford Business Group found that 70% of Nigerians prefer to pay with cash on delivery, while 28% use credit or debit cards, and only 12% use mobile money platforms. This has challenged e-retailers, and some companies like Jumia, to adapt by prioritizing cash-on-delivery options to cater to this consumer preference.

The Promise of Pay on Delivery in Nigeria

With consumers in mind, Jumia, the leading e-commerce platform in Nigeria, has made Pay on Delivery a cornerstone of its business model. Understanding the local market dynamics and the importance of trust and convenience, the company has invested heavily in ensuring a seamless Pay on Delivery experience for its customers.

One of the key benefits of Jumia’s Pay on Delivery service is its flexibility. Customers have the option to inspect their purchases before making payment, ensuring satisfaction and reducing the risk of fraudulent transactions. This added layer of security not only enhances the overall shopping experience but also builds long-term trust and loyalty among customers.

Moreover, Jumia has implemented rigorous quality control measures to ensure that products meet customer expectations upon delivery. This includes partnering with reputable brands and implementing stringent verification processes to prevent counterfeit goods from entering the marketplace. By prioritizing customer satisfaction and product quality, Jumia has solidified its reputation as a trusted online retailer in Nigeria.

Beyond enhancing trust and security, Pay on Delivery has also played a crucial role in driving financial inclusion in Nigeria. By providing an alternative payment method for those without access to traditional banking services, Jumia has expanded the reach of e-commerce to a broader segment of the population. This not only benefits consumers by providing greater access to goods and services but also stimulates economic growth by fostering entrepreneurship and driving demand for products and services.

In all, the future of e-commerce in Nigeria looks promising, with Pay on Delivery poised to remain a key enabler of growth and expansion. As technology continues to advance and consumer preferences evolve, innovative solutions like Pay on Delivery will continue to drive the transformation of the retail landscape, empowering Nigerian consumers and businesses alike.

 


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Verra Certifies d.light’s Clean Cookstove Projects in Sub-Saharan Africa

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A series of pioneering projects by d.light, the global provider of transformational household products and affordable finance for low-income households, to distribute 600,000 energy-efficient clean cookstoves in Kenya, Nigeria, and Uganda have been officially certified by global verification body Verra.

This certification confirms the d.light projects as trusted, verified sources of high-quality carbon credits in the voluntary carbon markets (VCMs).

The d.light projects aim to simultaneously reduce carbon emissions, tackle indoor air pollution, and reduce deforestation through the sale of highly efficient biomass cookstoves subsidized by the revenues from the sale of carbon credits.

Since their launch in late 2022, the projects have positively impacted more than one million lives and are projected to transform more than three million lives by 2025.

Commenting on the news, Karl Skare, d.light’s Chief Product and Strategy Officer, emphasized the projects’ positive impact, “With these projects, we’re not just addressing environmental concerns but also enhancing quality of life for millions.

“Each project underscores d.light’s commitment to practical, innovative solutions that address both environmental and social challenges, as part of our mission to transform the lives of one billion people by 2030.”

Each year, domestic cooking emissions contribute more than two percent of total global GHG emissions and up to 25 percent of anthropogenic black carbon emissions.

Highly energy-efficient cookstoves solve this problem by reducing biomass use by up to 70 percent compared to traditional cooking methods, cutting emissions of both carbon dioxide and black carbon.

The d.light projects are expected to reduce emissions by up to 12 million tons, contributing to climate change mitigation. These emissions reductions will be registered as carbon credits in the voluntary carbon market.

As well as reducing emissions, clean cookstoves are also a benefit to public health. According to the World Health Organisation, exposure to smoke from cooking fires causes an estimated 3.2 million premature deaths worldwide each year and is still one of the predominant causes of pollution-related illness and death in Africa.

In Uganda, for example, less than one percent of the population has access to clean cooking, household air pollution is the one of the largest risk factors for death and disability.

In addition, switching from traditional three-stone open fires to cleaner, energy-efficient cookstoves significantly reduces deforestation and reduces threats to wildlife and biodiversity caused by habitat loss.

Skare explained, “By subsidizing energy-efficient cookstove costs through carbon financing, d.light makes clean cooking accessible to more households, which in turn leads to healthier living conditions and conserves natural resources as well.

“Our projects in Kenya, Nigeria and Uganda are models of how sustainable investments can yield multiple co-benefits, aligning with global efforts to combat climate change and also promoting socio-economic development.

Skare added, “d.light now has projects certified by both Gold Standard and Verra, the world’s two leading certifiers of carbon credits. Organizations looking for ways to offset their own emissions can be confident that when they purchase carbon credits in d.light’s clean cooking projects in sub-Saharan Africa, they are investing in transformative initiatives that reduce harmful emissions, improve people’s health and quality of life, and help conserve the environment as well.”

 


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