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UBA’s LEO Hits 3m User Mark, Remains Smartest Banking Chatbot

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United Bank for Africa (UBA) Plc, Pan African financial institution, has in the last three years won the hearts of its customers with LEO, its artificial intelligence chat bot, which has proven to be the most formidable artificial intelligence chat bot till date; serving an ever-increasing clientele who now have less transaction hassles to worry about.

UBA’s LEO Hits 3m User Mark, Remains Smartest Banking Chatbot

Leo with Mark of facebook

Leo is an AI chatbot for banking services currently available on Facebook Messenger, WhatsApp, Apple Device and is set to launch soon on other social media platforms.

Birthed January 11, 2018, with a firm resolve to prioritise its customers as well as put the bank at the heart of disruptive technologies that will transform the experience of esteemed customers, UBA did just that with a million users becoming hooked in less than three months of its LEO’s inception.

Three years later, and with over 3 million customers and counting, UBA’s LEO, has without doubt, remained the smartest Banking Chatbot in Nigeria because of its speed and quick learning intelligence and has continued to evolve with plenty to offer its teeming customers.

While other financial institutions are still trying to figure to find their feet as regards AI, UBA’s LEO has become a massive success as the AI continues to consolidate on it successes and accolades winning several awards overtime.

The chat bot continues to enjoy periodic and systematic upgrade with special emphasis on enhanced advancements and specialised unique features which have clearly earned the chatbot over 3 million Users.

Mr. Kennedy Uzoka, group managing director/chief executive officer, UBA, affirmed that UBA customers indeed agree that LEO is one of the bank’s biggest investments in cutting-edge technology and has been steadily changing the face of  banking in the continent.

Mr. Kennedy Uzoka, group managing director/chief executive officer, UBA

“UBA’s vision has always been and will remain a dominating force in Africa’s digital banking space. Our resolve is to provide unparalleled experience across all channels. We are a technology-driven institution with vast knowledge in the business that we do and LEO, being a tested, dependable and intelligent personality, replicated on WhatsApp the success it recorded on the Facebook Messenger platform where it started its journey and later on the IOS (iPhone Operating System) platform . It is a solution that is from the customer’s standpoint, easy to use by anyone regardless of demography. LEO is always ready and waiting to help with any form of banking service,” Uzoka said.

“As an app that has been in existence for over nine years, reaching more than 1.5 billion people in over 180 countries, WhatsApp has become very essential in lifestyle and that is why UBA saw the need to include LEO’s services in that very important app and the premium private chat platform has assured that there will be no spam messages, as the development is to enable businesses serve their customers with useful information,” the GMD stated,

Uzoka explained that LEO is already present in over 20 African countries and in three languages and has a number of rich and robust features bound to mesmerise existing and potential customers with services that are extremely fast and secure as all transactions and enquiries are encrypted, end-to-end.

LEO has the ability to do a wide range of things, including funds transfer, call card top-up, checking of account balance, retrieval of bank statements, instant account openings for new customers, statement to embassy/other banks/microfinance, purchase of airtime/ data, paying of bills (LCC, PHCN, Cable TV), effectively helping with savings and spend limit.

The AI chatbot also boosts of remarkable innovative features that allows customers make banking Services – Request/stop/confirm Cheques, Block card, Log & track complaints, ATM/Branch Locator, Freeze accounts, and check weather etc.

Other features include Customer Care complaint resolution, linking of new account, flight Payment, linking and Funding of Prepaid Card, Travel Notification, Wakanow services and Dubai Visa service.

The GMD pointed out that, customers who have engaged with LEO are more than delighted about their experience and credit it for automatically extracting account details without hassles, adding that “Testimonies abound about how it is generally easier to use LEO compared to its counterparts. For example, LEO automatically detects account numbers via a customer’s WhatsApp mobile number and goes ahead to seamlessly help customers check their account balance as well as top-up airtime”.

Reviews from customers note that LEO is more personable, more humane, and it feels like talking to an experienced customer service/Fulfilment representative. The Bot also allows customers to easily lodge and process complaints with adequate and timely feedback.

UBA offers banking services to more than twenty-five million customers, across over 1,000 business offices and customer touch points, in 20 African countries.

With presence in the United States of America, the United Kingdom and France, UBA is connecting people and businesses across Africa through retail; commercial and corporate banking; innovative cross-border payments and remittances; trade finance and ancillary banking services.

 

 

 

 

 

 

 

 


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E-Financial

Moniepoint: More Customers Lament after Police Exposed Scammers Who Stole over N400m

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Nigerian customers of Moniepoint, a fintech bank, have expressed widespread frustration and discontent with the company’s operations, citing numerous difficulties and challenges, according to PM News.

Moniepoint: More Customers Lament after Police Exposed Scammers Who Stole over N400m

These complaints are coming on the heels of a recent revelation by the Nigerian Police Force, which exposed a scam involving two Nigerians who stole over N400 million using Moniepoint profiles

One such customer, Suleiman Abubakar Audu, shared his ordeal with the medium, revealing that his account, containing N522,000, had been inexplicably closed for over ten weeks.

Audu noted that despite providing all necessary documentation and repeatedly reaching out to the bank, his account remains inaccessible.

He further lamented that the situation has left him under significant financial stress.

Audu said: “Moniepoint blocked my account for over 10 weeks. I have provided all the necessary information but till now they didn’t release my account.”

He claimed that the bank also failed to provide any meaningful update.

Audu further lamented, saying: “I messaged them via all the handle begging for their reply and they keep telling me issues have been prioritised. I call them via phone call almost each and every day. They are just promising that it will be resolved and update will be provided via mail and till now no any update in the mail. They are just playing me around and I don’t even know the dimension of the issue.”

However, Audu’s experience is not an isolated incident as further investigations by PM News uncovered multiple customers facing similar challenges with Moniepoint.

Busayo Busayo, another disgruntled customer, reported that N50,000 had been deducted from her account since October 2024, with no refund forthcoming.

“Moniepoint na ole (are thieves). Since Oct, my 50k still dey with no refunds. Every time I chat them, different story,” she exclaimed.

Kelvin Doris, a student, also shared her frustrating experience, stating that a refund from Moniepoint to his UBA account had been delayed, leaving him without funds for his school fees.

“I did a refund on Monday from my Moniepoint to UBA, but I have not seen the money,” Doris stated.

Adeboye, another customer, alleged that Moniepoint had allowed someone to use his phone number to open an account in his name, raising concerns about the bank’s security measures.

He said: “Someone is using my number and account for moniepoint, OTP was sent to me twice when I didn’t request for it. I just ignored because I know it’s a work of scammers. next I see is congratulations your password was reset, and I was told that the account has been upgraded to merchant level.”

Orimisan Olakolegan, a Facebook user, also shared his experience, stating that his money had been stuck in Moniepoint since February 4, 2025, without any resolution.

“My money have stuck in moniepoint and their client since 4th February 2025 without any review,” Orimisan alleged.

In light of these allegations, customers urged the Federal Government of Nigeria and the Central Bank of Nigeria to investigate Moniepoint’s operations and address the numerous challenges faced by its customers.

The affected individuals also called for prompt action to rectify the situation and prevent further hardship.


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CBN Orders Bank Directors with Insider Bad Loans to Resign

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Olayemi Cardoso, Governor, Central Bank of Nigeria
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Central Bank of Nigeria (CBN) has ordered bank directors with non-performing insider-related loans to step down immediately, as part of efforts to strengthen corporate governance and enhance risk management in the banking sector.

Olayemi Cardoso, Governor, Central Bank of Nigeria

 

The directive was issued in a circular signed by Adetona Adedeji, acting director of Banking Supervision.

Insider loans are the credit facilities granted by the bank to its executives, directors, employees, major shareholders, or other related parties.

The apex bank also directed banks to recover outstanding debts by enforcing collateral recovery and seizing shareholdings of affected directors.

Furthermore, banks must regularise all insider-related facilities within 180 days, particularly those that exceed limits prescribed in Section 19 (5) of the Banking and Other Financial Institutions Act (BOFIA), 2020, and were previously approved without specific timelines.

The CBN stated: “Directors with non-performing insider-related facilities are required to step down immediately from the board, while the bank should commence immediate remediation of the loans through the recovery of the collaterals, including the shareholdings of the affected directors.”

It also stressed the importance of compliance with Section 19 of BOFIA 2020, which limits insider-related loans:

“Banks are required to regularise within 180 days, all insider-related facilities above the limits prescribed in Section 19 (5) of BOFIA, 2020.

“Individual director-related facilities must be brought within the 5 per cent paid-up capital limit, while the aggregate insider facilities for the bank must not exceed 10 per cent of its paid-up capital.”

The CBN emphasized that compliance with these directives is effective immediately to uphold regulatory standards and corporate governance best practices.

 

 

 

 

 

 


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CBN Orders Banks to Publish Details of Dormant Accounts, Unclaimed Balances

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Central Bank of Nigeria (CBN) has directed commercial banks and other financial institutions to publish the name of the account, the type of account, the name of the bank, and the branch where the dormant account is domiciled on their official websites.

CBN Orders Banks to Publish Details of Dormant Accounts, Unclaimed Balances

According to CBN, a dormant account refers to a bank account that has remained inactive for at least one year.

This is disclosed in a circular entitled, ‘Guidelines On Management Of Dormant Accounts, Unclaimed Balances And Other Financial Assets In Banks And Other Financial Institutions in Nigeria’ and signed by MichaeL C. Akuka, for: director, financial policy and regulation department, CBN.

As part of the new regulations, financial institutions are required to display key details such as the names of individuals authorized to operate the accounts, the type of account, and the branch where it is domiciled.

This information must be made available on their official websites.

For other financial institutions (OFIs) that do not have dedicated websites, CBN has mandated that the information be published on the website of their respective industry associations.

“In furtherance thereof, and in response to enquiries from stakeholders regarding the possible breach of the Nigeria Data Protection Act, 2023 (NDPA), banks and other financial institutions are required to note the following,” CBN stated.

“1. Section 25 (b) of the NDPA permits justifiable deviations from the general principles of the Act. Also, Section 72.

“ (ii) of the Banks and Other Financial Institutions Act mandates the Central Bank of Nigeria to issue Guidelines on the administration of unclaimed funds in banks and other financial institutions.

“2. Information to be published on banks’ websites as well as the association’s website (where applicable) shall include the name of the account, the type of account, the name of the bank, and the branch where the account is domiciled ONLY.

“Information to be published annually in at least two national daily newspapers or the premises of State and Unit microfinance banks, shall also convey the details as listed in (2) above.”

This directive follows an earlier order issued by CBN on July 19, 2024, requiring banks and financial institutions to transfer unclaimed balances and dormant account funds to the apex bank’s designated accounts.


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