The Nation Newspaper

Tag: licence

  • Banks seek acquirer licences for e-payment

    Banks seek acquirer licences for e-payment

    TO participate in the e-pay-ment market, banks have initiated moves to get acquirer licences. They are to get the licences from card association like Mastercard, Visa and others.

    An acquiring bank (or acquirer) processes credit and or debit card payments for products or services for a merchant.

    The licence enables the lender to accept or acquire credit card payment from card associations such as Visa, MasterCard, American Express, Diners Club, Japan Credit Bureau, Attijariwafa Bank, and China UnionPay, among others.

    Speaking at the BT Africa conference in Lagos, Head Electronic and Personal Banking Sales, United Bank for Africa, Henry Obike, said Merchant Service Charge (MSC) must to be reduced from six per cent per transaction charged by some card associations to encourage a wider use of cards by bank customers and travellers.

    He said: “The charges are really an issue that needs to be addressed. But as a bank, we always ensure that we create value and that is why I am confident that before June, this year, we would secure an acquirer licence. This will boost competition and drop charges.”

    Visa Country Manager, West Africa, Ade Ashaye, said banks should let customers know what value they are getting by using their cards instead of cash. He said there should be a cost for cash and an incentive for using e-payment tools.

    He said Visa, a global electronic payments company, has reiterated its commitment to unlocking business potential within the Sub-Saharan Africa. “Visa plays an active role in travel and tourism and its research in the tourism industry provides key insights into the trends. We believe that continued engagement in the industry is important,” he said.

    Ashaye said Visa is committed to consolidating its position in the travel industry throughout Sub-Saharan Africa. He said the company has been instrumental in reshaping the payment landscape in West Africa with the introduction of several products, including the Visa Corporate card, for enabling secure and convenient cashless transactions within the region.

    “As Nigeria moves towards a cashless economy, we are looking to share the benefits of electronic payments with the travel industry. There were a number of interesting and lively panel discussions during the conference that affect the industry,” said Ashaye.

    He said Visa is committed to consolidating its position in the businesses arena throughout Sub-Saharan Africa. He said the company has been instrumental in reshaping the payment landscape in West Africa with the introduction of several products, including the Visa Corporate card, for enabling secure and convenient cashless transactions within the region.

    He said Visa’s approach is to minimise fraud in the payment system by building policies, tools and technologies that will help prevent fraud before it happens. Such technology he added, also protects vulnerable card data wherever it is stored, processed or transmitted throughout the payment system. It also monitors and manages fraud to ensure prompt response to issues. It also minimises impact to stakeholders, which include, cardholders.

    “This conference serves as a great opportunity for all those with a vested interest in West African business travel to come together under one roof,” said Dylan Rogers, of BT Africa.

     

  • DANA Air’s licence suspended

    DANA Air’s licence suspended

    Nigeria Civil Aviation Authority (NCAA) yesterday cited safety concerns involving one of DANA Air’s aircraft as the reason for the temporary suspension of its operating licence.

    According to the Acting Director-General of NCAA, Mr. Joyce Nkemakolan, the authority took the decision to enable the Ministry of Aviation carry out investigations on the operations of the airline as a precautionary measure.

    In a short message service (SMS), spokesman of NCAA, Mr. Sam Adurogboye, said: “This is a development in the industry. DANA Air’s licence was temporarily suspended over safety concerns in respect of one of its aircraft on Saturday in Abuja.”

    Investigations showed that one of the McDonnel Douglas 83 aircraft in the fleet of DANA Air had a battery problem in Abuja on Saturday, as it was about to take off, forcing the airline to report to the authorities.

    Following the report, the Ministry of Aviation ordered the grounding of the aircraft.

    The airline, it was learnt, sent another aircraft to Abuja to carry passengers.

  • MfBs’ licence validation begins

    MfBs’ licence validation begins

    The Central Bank of Nigeria (CBN) has begun its routine licence validation and capital verification for the year in microfinance banks (MfBs), The Nation has learnt.

    This is part of the processes to be completed before the release of the National Microfinance Development Strategy before the end of June. The document is expected to outline modalities for developing the subsector and rules that operators will follow to achieve improved performance and ensure the sector’s stability.

    The exercise is in line with the need for more disclosures, transparency and improved corporate governance expected from operators in the subsector.

    CBN’s yearly report for 2011 indicated that 800 MfBs were examined during the year. An analysis of the examination showed that 774 MfBs met the prescribed capital adequacy ratio of 10 per cent, with 52 per cent having capital funds in excess of the minimum regulatory capital.

    Also, 84 per cent of the institutions met the prescribed minimum liquidity ratio of 20 per cent, translating to an average liquidity ratio of 88 per cent for the sub-sector. This reflected the pervasive under-trading and placement of funds with DMBs.

    The average portfolio-at-risk (PAR) or non-performing loan-to -total, on the other hand, was 46.0 per cent, reflecting a high level of non-performing loans. A total of 29 MFBs, however, had PAR ratios below the prudential maximum of 2.5 per cent. Each MFB with a regulatory/ supervisory issue of concern was served an appropriate supervisory letter with prescribed timelines for compliance. Holding actions were imposed in 54 cases entailing the cessation of the grant of fresh loans and further acquisition of fixed assets.

    Besides, the CBN is considering the establishment of a Microfinance Development Fund (MDF) as a further step to deepen the financial market. The MDF when established would assist in addressing teething challenges of underfunding for the financial sub-sector.

     

  • NBC suspends licence of Kano Wazobia FM

    NBC suspends licence of Kano Wazobia FM

    The National Broadcasting Commission has suspended the Kano Operating Licence of Globe Broadcasting and Communications Limited, owners of Wazobia FM in Kano, Kano State.

    The suspension is contained in a statement issued in Abuja on Friday by the commission’s Head of Public Affairs, Malam Awwalu Salihu.

    The statement explained that the suspension was in continuation of the steps taken by the commission following the broadcast of an episode of the programme – Sandar Girma.

    It said the programme was found to have breached Section 3.9.1 of the Nigerian Broadcasting Code which prohibits the use of language encouraging crime or disorder.

    “Section 3.9.1, for instance, stipulates that: language or scene likely to encourage or incite crime, or lead to disorder, shall not be broadcast.”

    It said that the commission has formed the opinion that the station had been used in a manner that was detrimental to national interest.

    The statement ordered the station to go off air with ‘immediate’ effect until further notice.

    “The commission has, therefore, decided to suspend the licence of the station in accordance with sections 10 (d) and 14 of the Third Schedule of the National Broadcasting Act, CAP N11, Laws of the Federation, 2004, until further notice,” it said.

  • New driver’s licence: FRSC warns officials against extortion

    The Federal Road Safety Commission (FRSC), Oyo State Command, yesterday inaugurated the new National Commercial Driver’s Licence in Ibadan, the state capital.

    It said the commission has put machinery in place to ensure the smooth issuance of the new licence to the three million commercial drivers in the state.

    Many commercial drivers had expressed fears on the issuance of the new driver’s license, which would begin next month.

    The Sector Commander, Mr. Godwin Ogagaoghene, warned his men and those of other agencies against extorting commercial drivers over the issuance of new driver’s licence.

    He said commercial drivers are expected to obtain forms, go for eye and other tests before they can be issued the new licence.

    Ogagaoghene warned drivers against bribing FRSC officials.

    He said commercial drivers have to undergo more tests than private drivers because they have more responsibilities.

    Ogagaoghene said seven centres have been opened for the issuance of the new licence but only two were functioning.

    The centres include Onireke, state secretariat, Atiba, Eruwa, Saki and Ogbomoso.

    Ogagaoghene said: “I assure you (commercial drivers) of the readiness of the FRSC to ensure the smooth issuance of the new driver’s licence, despite its challenges.”

    Members of the National Union of Road Transport Workers (NURTW) urged the FRSC to open more centres to ensure easy issuance of the licence.

    They urged the commission to open a centre at the NURTW State Secretariat.

     

  • Double drivers licence in Lagos

    Double drivers licence in Lagos

    Double taxation is a major problem that organisations and other well – meaning individuals have been fighting against because it is seen as a form of oppression and extortion.

    The monster of double taxation has crept into drivers licence system in Lagos State. The rule now is that drivers, particularly commercial drivers holding the national drivers licence are to obtain a re-certification card from the Lagos State Drivers Institute after the payment of the stipulated fee.

    I regard this as double taxation because, the Lagos State government is fully involved in the issuance of the national drivers licence through its agencies (Motor Vehicle Licence Authority, and the Vehicle Inspection Unit), collaborating with the Federal Road Safety Commission (FRSC).

    Before anyone obtains a drivers licence, he undergoes the relevant training programme in the driving schools. The law also stipulates that the VIO should test the theory and practical skills of each candidate before recommending him or her for the national drivers licence.

    Under the rule of the Lagos State Drivers Institute, holders of the national drivers licence are to go for re – certification yearly at the institute at the stipulated fee, including eye test and classroom training. All these are part of what the FRSC have incorporated into the national drivers licence issuance and renewal for drivers particularly commercial drivers.

    No matter how much the operation of the Lagos State Drivers Institute is defended, it is nothing but a duplication of the national drivers licence process in which the Lagos State government is fully involved.

    The drivers are being compelled to cough out about N6,000 for the national drivers licence and another N2,000 for the re – certification card of the Lagos State Drivers Institute to be renewed annually at N1,000 which amounts to N4,000 within a period of three years amounting to N10,000 for both, apart from other vehicle particulars.

    If income generation is not the principal objective, then the Lagos State government should allow only the national drivers licence procedure to stay and support it to work as in other states of the Federation.

    The FRSC has appointed medical establishments in every local government to handle the eye and medical checkups which is more comprehensive than what obtains at the five centres of the Lagos State Drivers Institute.

    The FRSC and state VIOs have also appointed the driving schools to train and certify drivers for the national drivers licence. What other role is left to justify the operation of the Lagos State Drivers Institute apart from income generation?

    The situation in Nigeria is not easy for many households.

    The same drivers will pay rent, tenement rate, school fees of children, family medical bills, food, water, PHCN light bills, generator fuel, vehicle particulars, tax, psp and several others. How much is the monthly income of the target drivers.

    I hereby plead with the Lagos State government and other authorities to desist from implementing policies that will amount to double taxation or putting unnecessary financial burdens on the masses. I advise that this case should be revised with the necessary adjustments made. The instruments, equipment and facilities already acquired can be transferred or sold to the VIO, FRSC and driving schools as appropriate.

     

    Ojo writes from Lagos