E-Financial
Yuletide: E-PPAN Urges Nigerians To Be Security Conscious
E-payment Providers Association of Nigeria (E-PPAN) has urged Nigerians to be security conscious especially at this festive season where a lot of transactions take place with the use of various payment instruments.
Be it shopping physically at merchant outlets using the POS terminal; mobile Banking/Payment; online transactions or even at the ATM, E-PPAN said that users must be careful to avoid the eagle-eyes of financial fraudsters.
Typically, fraudsters also use this festive season to launch their nefarious activities to unsuspecting bank customers.
The onus, E-PPAN said, is therefore, on the individual first, to consider safety in all transactions, and these will take some extra and conscious effort by the individual.
Regha Onajite, executive secretary and chief executive officer of E-PPAN, said in a statement on Monday, “Like we all always tell consumers it is very safe to use any of any of the payment instruments but to minimize the chances of becoming a victim of electronic fraud we advice consumers to follow some safety tips such as; Look after your cards and card details at all times ; Try not to let your card out of your sight when making a transaction, and don’t leave your cards unattended in public places.
“We emphasize that NEVER share your PIN with anyone, ensure you are the only person that knows your PIN. Your bank will never ask you to disclose it; anyone who does ask you for your PIN is a fraudster. Keep It Secret, Keep It Safe – Protect Your PIN”.
Onajite said, “For those who will use the ATM at any point we always advice that never use an ATM at any isolated location especially at night and weekends. ATM’s are generally very safe; however they do sometimes attract criminal attention so you still need to follow common sense precautions when withdrawing cash.
“At the ATM when entering your PIN, Stand close to the ATM , use your free hand and your body to shield the number in case someone is watching you over your shoulder. Once you have completed a transaction put your money and card away before leaving the ATM.
“If the ATM does not return your card, report it immediately to your service provider. Destroy or preferably shred your ATM receipts, mini-statements or balance enquiries when you dispose of them.
“If you think someone has seen your PIN you can change it at the next ATM or by contacting your bank. To minimize the chances of having your card or card details stolen at an ATM we say that if you spot anything unusual about the ATM, or there are signs of tampering, do not use it. Report it to the relevant authorities immediately.
Ntia Nnene Sylvia, media and strategy development manager at E-PPAN quoted the Executive Secretary in the statement advising those traveling overseas to call their financial service providers and inform them on their location of travel.
“Only take cards that you intend to use; leave others in a secure place at home. When you are overseas don’t let your card out of your sight, especially in restaurants and bars; when you get back check your card statements carefully for unfamiliar transactions. If there are any, report them to your financial service provider as soon as possible.
Also some will be doing online transactions, our advice to those category of people is that they should only shop on secure sites. Before entering card details ensure that the locked padlock or unbroken key symbol is showing in your browser. Additionally, the beginning of the online retailer’s internet address will change from ‘http’ to ‘https’ to indicate the connection is secure. Never send your PIN over the internet. Always log out properly after shopping online – if the website you have used has a ‘sign out’ or ‘log off’ button, click it when you have finished, especially if you have been using a shared or public computer.
“As additional preventative measures when banking online, you should ensure your browser is set to the highest level of security notification and monitoring. Be particularly security-conscious if you are using a public computer or public Wi-Fi internet connection,” the statement read.
E-PPAN said that if everyone follows the safety security tips as have been highlighted they would have protected themselves from being victims of fraud.
Amongst other programmatic activities for 2015, the E-Payment Providers of Nigeria E-PAN has put consumer awareness and campaign as regards to Fraud in its front burner for 2015 working in tandem with the Central Bank of Nigeria and the industry.
E-Financial
First Securities Brokers Empowers Nigerians to Trade in the Stock Market with the Launch of FirstInvest App
First Securities Brokers, one of Nigeria’s leading stockbroking firms and a subsidiary of FirstHoldCo Plc, is pleased to announce the official launch of the FirstInvest App, an innovative mobile investment platform designed to make stock market investing simpler, faster, and more accessible for Nigerians.
The FirstInvest App offers investors a seamless digital experience, enabling them to open and manage their investment accounts, monitor their portfolios, and trade equities listed on the Nigerian Exchange (NGX) directly from their mobile devices.
Designed with both new and experienced investors in mind, the platform combines convenience, security, and ease of use to help users make informed investment decisions anytime and anywhere.
As Nigeria continues to embrace digital financial services, the FirstInvest App reinforces First Securities Brokers’ commitment to driving financial inclusion and expanding access to wealth creation opportunities through technology.
Speaking on the launch, Fiona Ahmed Ahimie, Managing Director of First Securities Brokers, said: “The launch of the FirstInvest App represents another significant milestone in our digital transformation journey and our commitment to delivering innovative investment solutions to our clients.
“We understand that today’s investors value convenience, speed, and accessibility. FirstInvest has been developed to provide exactly that: a secure and intuitive platform that empowers individuals to participate confidently in the capital market from wherever they are.”
She added: “Our goal is to remove the traditional barriers associated with investing by placing the power of timely investment and decision making in the stock market directly in the hands of Nigerians. Whether you are taking your first investment step, actively managing your portfolio or just evaluating your investment, FirstInvest provides the tools and flexibility needed to support your financial aspirations.”
The app delivers a range of features designed to enhance your investing experience, including: Secure digital account opening and onboarding, Real-time access to investment portfolios, Buy and sell Nigerian equities with ease, User-friendly trading interface, Secure transaction processing, Convenient access to market information and investment opportunities.
The launch of FirstInvest aligns with First Securities Brokers’ broader strategy of leveraging technology to improve customer experience while supporting the growth of retail participation in Nigeria’s capital market.
First Securities Brokers remains committed to providing trusted investment advisory services, innovative financial solutions, and exceptional customer service, helping clients build and preserve wealth across generations. The FirstInvest App is now available for download on the Google Play Store and the Apple App Store.
The next currency crisis could accelerate the shift of the roughly $315 billion global stablecoin market into a digital-dollar alternative for citizens in emerging economies, notably in regions like sub-Saharan Africa and Latin America.
As local fiat currencies face devaluation and high inflation, citizens and businesses are increasingly utilizing smartphone-based stablecoins (such as USDT and USDC) as hedges and primary mediums of exchange.
According to the International Monetary Fund (IMF), the rapid adoption of dollar-linked digital assets—particularly in countries heavily affected by inflation like Nigeria—poses significant risks to monetary sovereignty.
With up to 95% of surveyed individuals in some African markets preferring to receive payments in stablecoins over local fiat, the rising volume of these decentralized, cross-border channels weakens domestic currency demand and dilutes the effectiveness of local monetary policy.
IMF observed in a report titled “Stablecoins in Nigeria: A Growing Cross-Border Channel” noted that the widespread use of stablecoins poses risks to monetary sovereignty, particularly as more individuals and businesses turn to digital dollar-linked assets for savings and transactions.
Nodding in agreement is Future Investment Initiative Institute (FII Institute), a non-profit organisation run by the Public Investment Fund, Saudi Arabia’s main sovereign wealth fund.
FII Institute said that central banks face structural challenges.
And according to the institute, when citizens move savings out of national banks and into private digital wallets, conventional capital controls lose their grip.
Institutions like the Bank for International Settlements warn that interest-bearing stablecoins compete directly with domestic-currency deposits, complicating financial oversight and making smartphone-based transfers incredibly difficult for authorities to monitor.
In Nigeria, Naira depreciation has pushed users toward dollar-stablecoins, according to report by Gino Matos in cryptoslate.com.
A stablecoin is a type of cryptocurrency designed to maintain a steady value by pegging its price to a reserve asset, such as a fiat currency (e.g., the U.S. dollar) or a commodity (e.g., gold).
They act as a bridge between traditional money and the digital asset world, providing the speed of crypto without the extreme price swings of assets like Bitcoin.
Federal government has reopened three federal government of Nigeria (FGN) bond issues valued at N1.2 trillion for subscription as part of efforts to raise long-term funds from the domestic debt market.
The Debt Management Office (DMO), which announced the offer on Tuesday, said the three reopened bond issues are each valued at N400 billion.
According to the DMO, the first offer is the January 2035 FGN Bond, a 10-year reopening, carrying an interest rate of 22.60 per cent per annum.
The second is the May 2028 FGN Bond, a 15-year reopening, with a coupon rate of 15.45 per cent per annum, while the third is the June 2037 FGN Bond, a 20-year reopening, also valued at N400 billion.
The office said the bond auction is scheduled for July 20, while successful subscriptions will be settled on July 22.
It explained that the bonds are offered at N1,000 per unit, with a minimum subscription of N50 million and additional investments in multiples of N1,000.
For the reopened bonds, the DMO said successful bidders would pay a price based on the yield-to-maturity that clears the auction, in addition to any accrued interest on the instruments.
Interest on the bonds will be paid every six months, while the principal will be repaid in full on the respective maturity dates.
The DMO reaffirmed that FGN bonds are backed by the full faith and credit of the Federal Government and constitute obligations chargeable on the general assets of the federation.
It added that the bonds qualify as trustee investment securities under the Trustee Investment Act and enjoy tax exemptions for eligible investors, including pension funds, under the Company Income Tax Act and Personal Income Tax Act.
The bonds are listed on the Nigerian Exchange (NGX) and FMDQ Securities Exchange and also qualify as liquid assets for banks in computing their liquidity ratios.
FGN bonds are long-term debt instruments through which investors lend money to the Federal Government in exchange for periodic interest payments and repayment of the principal at maturity.
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