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
UBA Expands to More African Cities, Stamps Footprint in Saudi Arabia

United Bank for Africa (UBA) has announced strategic expansion into more African countries even as it plans to open a new office in Saudi Arabia, marking a significant milestone in its mission to connect Africa with key global markets.

Oliver Alawuba, GMD/CEO, UBA group,
This emerged during the Group’s Half Year Business Review held at its global headquarters in Lagos, where Oliver Alawuba, group managing director/CEO, UBA group, met with senior executives overseeing UBA’s 24-country footprint.
The meeting reaffirmed the bank’s pan-African strategy while outlining bold new steps into global markets.
Alawuba highlighted UBA’s continued growth outside Nigeria, with more than 51.7% of Group revenues now generated from its ex-Nigerian operations.
He described the Saudi expansion as a move that positions UBA to support cross-border trade, attract investment flows, and better serve the African diaspora.
“UBA’s vision is clear—we are building a truly global institution anchored in Africa, but serving customers across continents. Our entry into Saudi Arabia signals confidence in new opportunities and commitment to supporting economic connectivity between Africa and the Middle East,” he said.
The Saudi expansion adds to UBA’s international presence, which currently includes the United Kingdom, United States, France, and the United Arab Emirates. Alawuba also disclosed that the bank is upgrading its operating licence in France to further strengthen its European operations.
“In Europe, UBA has operations in the United Kingdom and is upgrading its licence in France, expanding its capacity to serve cross-border trade, investment flows, and the African diaspora, complementing our over 40-year presence in New York,” Alawuba noted.
Since launching its pan-African journey with an entry into Ghana in 2004, UBA has expanded rapidly across 20 African countries, establishing itself as a leading driver of financial inclusion, innovation, and regional integration.
E-Financial
Ecobank Plans to Raise $250m Capital Through Private Placement

Ecobank Transnational Incorporated announced its plan to raise up to $250m in Additional Tier 1 capital through a private placement of contingent convertible notes.
In a statement filed on the Nigerian Exchange Limited recently, the capital raise was approved by shareholders at the company’s Extraordinary General Meeting held in Lomé, Togo. The private placement offer was launched on July 9 and will run for ten days.
“Following the approval of the shareholders at its Extraordinary General Meeting held on May 28, 2025, in Lomé, Togo, to raise up to $250m in additional Tier 1 capital qualifying instruments via a private placement of contingent convertible notes, Ecobank Transnational Incorporated announces the launch of the AT1 effective July 9, 2025, for ten days. Renaissance Capital Africa has been appointed as the transaction adviser to ETI.”
The move is an initiative aimed at strengthening Ecobank’s capital adequacy, enhancing financial resilience, and supporting its long-term growth ambitions across its diversified pan-African banking platform.
Additionally, Madibinet Cisse, Ecobank’s Company Secretary, said, “This proposed capital raise represents a critical step in our efforts to fortify the bank’s financial foundation and support sustainable growth across Africa.”
It would be recalled that Ecobank Transnational Incorporated, the parent company of the Ecobank Group, has raised an additional $125m through a Eurobond tap, bringing the total size of its 2029 notes to $525m.
E-Financial
EFCC Recovers Funds Lost to CBEX Fraud

Ola Olukoyede, chairman, Economic and Financial Crimes Commission (EFCC), has announced that the body has recovered lost funds from the CBEX fraud scheme.
Olukoyede did not announce the amount recovered, but he assured Nigerians that the EFCC is taking action against the promoters of the scheme.
The EFCC Chairman emphasised that the suspects found are facing prosecution.
“We have found a lot of people culpable. Those who promoted that scheme are within our jurisdiction and have been arrested. So, at this moment, they are being prosecuted. And we can also say that money has been recovered, even though the process is still ongoing for us to finally forfeit it,” he said.
Olukoyede also urged Nigerians to exercise caution when investing their resources into online platforms.
“Ponzi schemes remain one of the most pervasive threats facing unsuspecting investors. The CBEX case is a clear example. We all remember the outcry that followed the collapse of the scheme, but these unfortunate situations are preventable. Nigerians must begin to conduct due diligence before committing their resources to such platforms,” Olukoyede said.
He also stressed that the body remains committed to fishing out the culprits and recovering the lost funds.
“It was only when the bubble burst that people wanted EFCC to perform magic and recover their money. In the case we investigated in Lagos, which we dubbed Operation Flush, we arrested a large number of foreigners involved in various cybercrimes, including CBEX. I want Nigerians to know that as of today, we have secured close to 150 convictions. Some of them are already serving their jail terms. And when they are through with that, we are going to send them back to where they came from. So we are monitoring them,” he added.
He urged the public to stay vigilant, assuring them that the body will see the case to the end.
“We are no longer the EFCC that drops cases halfway. Whatever we start, we will finish. Nigerians should trust us and believe in our capacity to do justice. Some of these cases are complex and may require cross-border investigations, but we are up to the task,” he said.
- Telecom2 days ago
NCC Speaks of Plans to Secure Telecom Infrastructure Nationwide
- General News2 days ago
Airtel Nigeria Drives BFSI and Utility Sector Innovation with Industry-wide Workshop
- Telecom2 days ago
Africa’s Lawmakers Commit to Strengthening AI, Digital Health and Smart Manufacturing Frameworks
- E-Financial2 days ago
UBA Expands to More African Cities, Stamps Footprint in Saudi Arabia
- General News2 days ago
EFCC Says Corrupt Politicians are Using Crypto Wallets to Launder Money
- E-Financial2 days ago
Ecobank Plans to Raise $250m Capital Through Private Placement
- News2 days ago
IHS Nigeria, UNICEF Donate Oxygen Plant to Bridge Health Gap in River State
- Telecom2 days ago
NITDA DG: AI Is an Ally for Innovation, Not an Enemy