Tag: Visa

  • Visa advocates financial inclusion

    Visa advocates financial inclusion

    The Visa Incorporated has reiterated the need to focus more on getting people in remote parts of the country involved in banking services. The Country Director, Sub-Saharan Africa, Visa Incorporated, Mr. Ade Ashaye said a lot of money in circulation is outside the banking system and the Central Bank of Nigeria (CBN) cash-less policy is simply targeted at encouraging people to make payments electronically rather than cash.

    He said financial inclusion is being widely pursued because there has always been a problem on how to reach people that is far away from banks. This, he said will involve banks opening more branches and getting their customers into embracing e-payment services.

    He said by encouraging electronic payments, banks will have more money to lend to industries. “A lot of cash is outside the banking system, a practice which will be reversed when more transactions are done electronically using cards,” he said.

    He said VISA is also advising the CBN and banks on how to ensure that the global best practices are achieved in course of implementing the cash-less policy of the apex bank.

    He said there is need to create awareness on how to make people understand how to use the electronic banking products adding that achieving financial inclusion will require the banks expanding their networks to remote areas to reach more people.

     

  • A visa bond of trouble

    From all indications, the British government may have, at least for the time being, backed off from its earlier proposal to impose a ‘punitive’ £3,000 (N730,000) visa bond on travellers from a group of six Afro-Asian countries deemed to pose “high risk” of immigration abuse. Last week, UK’s The Guardian quoted a member of the Liberal Democrats, the coalition partner of the ruling conservative government as saying that the policy has not been “signed off’. However, far from suggesting that the proposal was off the table, he gave hint that the government still agreed in principle with the policy although he noted that the “exact details of how it is to be piloted, including the size of the bond, is still being discussed in the government”.

    In other words, whether the six countries affected by the policy likes it or not, the visa bond policy which targets India, Pakistan, Bangladesh, Sri Lanka, Nigeria and Ghana — all non-white Commonwealth nations may have come to stay.

    The collective outrage by the nationals of the affected countries about a measure they considered as discriminatory, although understandable is somewhat misdirected. To start with, visas are by their nature inherently discriminatory; countries put visa regimes in place to restrict the influx of immigrants into their territory. It is elementary that not every one that applies for a visa ever gets one, including applicants ordinarily deemed as qualified!

    What are the arguments against the measure? That Her Majesty’s government, as leader and primus inter pares in the Commonwealth has no business imposing such patently unfair visa regimes on fellow commonwealth members? And that because of the rich historic ties between her and the group of six, the measures are simply unfair! In the first place, those who bandy the argument obviously forget or chose to forget, that the sun of the British Empire is said to have set in different parts several decades ago. It set in India and Pakistan in 1947; Sri Lanka 1948; Ghana in 1957; Nigeria 1960, Bangladesh 1971. Just as it seems fashionable for my generation to recall a time when they needed no visas to travel to Britain, part of the problem is the temptation to relapse into nostalgia; to reset the relations buttons to the 60s and the 70s!

    The issue here is that Her Majesty’s Government has already determined that the targeted countries posed high risk of immigration abuse! That is the judgment by a sovereign government to which they are entitled! Shouldn’t we have spared ourselves the emotionalism while making the case that our citizens seeking sojourn in UK are model citizens?

    Today, the global economy is in a flux; In UK for instance, youth unemployment is 7.8 percent, moderate by the standard of its peers in Western Europe. Before the global crisis, it was a little over five percent. The International Labour Organisation (ILO) for instance reports that the number of people looking for work for over a year has more than doubled since 2007, up from 391,000 to more than 902,000.

    Like America, the subject of immigration remains a hot button one. A Britisher put the issue in perspective when he observed rather wryly: “You don’t need a PhD to understand that when the number of unemployed people vastly outnumbers the number of job vacancies, and public housing stock is under huge strain, it’s a very bad idea not to radically restrict immigration. This isn’t rocket science”.

    So, is the £3,000 the answer to the immigration problem?

    I agree that the policy lacks rigour. What it does is adjudge the potential traveller as guilty until proven otherwise. Moreover, the act of singling out of six countries as “high risk” immigration violators is apparently in bad taste. And if you ask me, it is unlikely to deter the potential illegal immigrant; it simply jerks up the cost of procuring the exit card!

    However, I think the problem is that we pay too much attention to what the Brits are doing to fix their problem. My problem is that we are not even about to start dealing with ours which is to fundamentally address the question of why our youths have found the lure of foreign pastures irresistible despite the dangers and frustrations, or why many would readily pay the ultimate price than stay to work things out.

    Last week for instance, we heard Foreign Minister Gbenga Ashiru swear to “defend the interest of Nigerians by whatever means we can”. With what? A tit-for-tat wouldn’t be a bad proposition except that in our circumstance, it would be a most laughable one. What would that amount to given that the migration is almost wholly one-way?

    I say take it easy; we have seen similar posturing before. Didn’t one minister, Stella Oduah once threaten to ban British Airways from flying the Nigerian airspace over claims of unfair discriminatory practices? Has the world ended since the threat came to no effect?

    At the root of our problem is governance. We churn out graduates into a labour market already bursting in its seams. We cannot even guarantee admission for our children in higher institutions preferring instead to outsource admissions to Ghana, Ukraine and other foreign universities. In the last Unified Tertiary Matriculation Examination UTME held in April for instance, of the 1.7million that sat for the exam, only 520,000 spaces are said to be available – less than a third. For our army of youngsters, theirs is an annual sentencing into an uncertain, bleak future.

    If you ask me, I’ll insist that our enemy is within; at least the Brits are not nearly the enemy we think they are – not anywhere those foreign investors who pose as friends but act like fiends by bringing in labour for jobs that locals can conveniently do.

    As always, the point must be borne in mind that the right to travel is nowhere guaranteed; not even in No-Man’s-Land.

  • VISA seeks e-banking for rural dwellers

    The VISA Incorporated has re-iterated the need to focusmore on getting people in remote parts of the country involved in banking.

    The Country Director, sub-Saharan Africa, VISA Incorporated, Mr Ade Ashaye, said a lot of money in circulation is outside the banking system and the Central Bank of Nigeria (CBN) cash-less policy is only targeted at encouraging people to make payments electronically rather than cash.

    He said financial inclusion is being widely pursued because there has always been a problem on how to reach people that is far away from banks. This, he said will involve banks opening more branches and getting their customers into embracing e-payment services.

    He said by encouraging electronic payments, banks will have more money to lend to industries. “A lot of cash is outside the banking system, a practice which will be reversed when more transactions are done electronically using cards,” he said.

    He said VISA is also advising the CBN and banks on how to ensure that the global best practices are achieved during the implemention of the cash-less policy of the apex bank.

    He said there is need to create awareness on how to make people understand how to use the electronic banking products, adding that achieving financial inclusion will require the banks expanding their networks to remote areas to reach more people.

    He said VISA has tried to improve banking technology in the country and that almost all the banks are members of Visa. He said Nigeria has the right technology after many of the banks migrated to EMV, which is a more secured platform needed to prevent frauds.

    EMV stands for Europay, MasterCard and VISA, a global standard for inter-operation of integrated circuit cards or chip cards, which can be used on point of sale (PoS) terminals and automated teller machines (ATMs) for authenticating credit and debit card transactions.

    Ashaye said cards can increase taxable income by creating an electronic audit trail. He said the reduced risk of fraud inherent in many electronic payment networks is a guarantee of payment for merchants and liability protection for cardholders in the case of fraud.

  • Visa backs cash-less policy

    Visa backs cash-less policy

    Visa, a global electronic payments company, has called for an improved use of e-payment productsby entrepreneurs within and outside the country.

    Speaking at the BT Africa West Africa Expo and Conference in Lagos, Country Manager for Visa West Africa, Ade Ashaye, said the firm was committed to helping the country achieve its cash-less banking initiative. “Visa is committed to helping move Nigeria to a cash-less economy and share some of the benefits of secure electronic payments within the industry.”

    The conference was hosted in association with Future Group’s Business Traveller Africa.

    He said Nigeria is growing as a destination for both leisure and business travel, adding that rise in spending is a credit to the efforts of those promoting Nigeria as a tourist destination.

    According to VisaVue Travel data, Nigeria’s top three source markets of spend on Visa cards were the United Kingdom, United States and South Africa. Visa cardholders from these three markets account for 60.1 per cent of total spending by international Visa cardholders in Nigeria.

    ”What was great to see was the various players in West African business travel coming together under one roof, debating the issues, looking for solutions and engaging with existing and potential clients,” said Dylan Rogers, of Business Traveler Africa.

     

  • South Africa, Nigeria agree on visa waiver for officials

    South Africa and Nigeria have agreed to a visa waiver for officials of both countries.

    The visa waiver was one of nine agreements signed between officials of both countries, during President Goodluck Jonathan’s visit to the former apartheid enclave. The other pacts cover oil and gas, power, defence and communication.

    President Jacob Zuma yesterday said more than 100 South African companies were doing business in Nigeria across several industries.

    “To date, over 100 companies are doing business in Nigeria, with the biggest investment being in the telecommunications sector,” Zuma said in a speech to welcome Jonathan to South Africa.

    “We welcome the participation of South African business in other sectors in Nigeria as well, such as engineering, construction, media, banking, retail, hospitality, oil and gas exploration and services.”

    Last year, South Africa received 73,282 Nigerian tourists, representing 13.8 percent increase compared with the 64,402 who visited in 2011, said Zuma.

    “Our records indicate that Nigerian tourists contributed a total of R720 million to the South African economy last year. To boost tourism links further, South Africa is in the process of opening a tourism office in Lagos.”

     

  • Visa canvasses more cash-less banking for travellers

    Visa canvasses more cash-less banking for travellers

    Visa, the global electronic payments company, has called for an improved use of e-payment products by business travelers both within and outside the country.

    Speaking at the BT Africa West Africa Expo and Conference in Lagos, Country Manager for Visa West Africa, Ade Ashaye, said the firm is committed to helping the country achieve its cash-less banking initiative.

    “Visa is committed to helping move Nigeria to a cashless economy and share some of the benefits of secure electronic payments within the industry.”

    The conference was hosted in association with Future Group’s Business Traveller Africa. He said Nigeria is growing as a destination for both leisure and business travel and rise in spending is a credit to the efforts of those promoting Nigeria as a tourist destination.

    According to VisaVue Travel data, Nigeria’s top three source markets of spend on Visa cards were the United Kingdom, United States and South Africa. Visa cardholders from these three markets account for 60.1 per cent of all total spending by international Visa cardholders in Nigeria.

    “What was great to see was the various players in West African business travel coming together under one roof, debating the issues, looking for solutions and engaging with existing and potential clients,” said Dylan Rogers, of Business Traveller Africa.

     

  • British High Commission  denies Commonwealth  boxing champion visa to defend title

    British High Commission denies Commonwealth boxing champion visa to defend title

    A Nigerian boxer’s dream of defending his title in Liverpool, United Kingdom, is threatened by the British High Commission’s refusal to grant him and his trainer entry visas, reports OLUKOREDE YISHAU

    IF nothing happens between now and March 8, Kareem Yakubu Olaitan’s dream of defending his Commonwealth Super-flyweight boxing title will not be realised. Reason: the British High Commission has refused him and his trainer, Isiaka Olatunji, visas to enter the United Kingdom. This is despite the fact that their applications were supported with letters from the promoter of the bout, Frank Warren Promotions, the Nigerian Boxing Board of Control and the Chairman of the Commonwealth Boxing Council, Phillip Brook Smith.

    The letter from Warren Frank Promotion shows that Olaitan is to defend his Commonwealth Super-flyweight title against Paul Butler at the Liverpool Olympia, Liverpool, UK on March 8. It also shows that the promoter will foot the bills for food, accommodation and round trip airfares for the team.

    The letter reads: “Frank Warren Promotions will meet all of the food and accommodation expenses for the duration of their team’s time in the UK as well as the round trip airfares. They will depart Lagos, Nigeria on Monday, 4th March, 2013 and return from the United Kingdom on Sunday, 9th March ,2013.

    “During their stay in the United Kingdom, they will be residing at Liverpool City Centre, Vernon Street, Liverpool, 122AY.”

    Smith, in a document supporting Olaitan’s application, pleaded with the High Commission to issue the visa.

    He said: “I confirm that the above mentioned Mr. Olaitan is the current Commonwealth Super flyweight champion under his ring name of Yaqub Kareem. He has contracted with licensed British Boxing Board of Control promoter Frank Warren to defend his title at the Olympia Stadium, Liverpool of Friday, 8th March, 2013 against current British Super-flyweight Champion Paul Better.

    “In order to fulfil this contractual obligation, it will be necessary for a UK entry visa to be granted to Mr. Olaitan and to his Trainer/Second Mr. Olatunji.

    “I confirm that Mr. Warren is a licensed promoter of over 30 years standing who has promoted some of the major Championship contests in British during this time, including those featuring well-known boxers, such as Lennox Lewis, Mike Tyson, George Foreman, Nigel Benn, Maseem Hamed, Richard Hatton and very many others.

    “The hotel, transport, food, training and accommodation requirements of both named gentlemen will be taken care of by Mr. Warren’s organisation, which will also be responsible for returning both to the airport after the contest date.

    “On behalf of the CBC, l kindly request that you deal with both visa applications as expeditiously as possible in order that Mr. Olaitan (and his Trainer/Second) can arrive in the UK with sufficient time to refresh and prepare himself to enable him to take part in this contest, which will be broadcast live on the subscription TV channel Box Nation.”

    But the High Commission was not convinced by the recommendations made for Olaitan by the Commonwealth Boxing Council, Frank Warren Promotions and others. It said it was not convinced the boxer had enough ties with Nigeria that would compel him to return after the fight. It said the boxer, despite the fact that he was being sponsored for the trip, must also be personally qualified to receive an entry visa.

    The embassy’s rejection letter reads: “In order to be able to make a decision on whether or not to grant you entry clearance in this category, l have taken into account your stated circumstances in Nigeria, the reasons for your visit and your proposed travel arrangements. You have declared that you are self-employed as a tailor with no fixed income and that you have one child to support. You also state that you are a boxer and wish to defend your boxing title in the United Kingdom. Whilst I acknowledge your statement that your proposed trip to the UK is to be sponsored by your sponsor, I must take into account your personal socio-economic circumstance in Nigeria when reaching my decision. The Immigration Rules require me to be satisfied that you personally qualify for a visa. None of the money being used to fund your trip is your own. I am not satisfied that you have sufficient economic ties to Nigeria to suggest you would not seek to remain in the UK if admitted as a visitor now. Given the statements you have made and the documentary evidence you have presented to support your application, l am not satisfied that your circumstances in Nigeria, coupled with your reasons for wishing to travel to the UK, are such that you have shown your intentions are as stated or that you intend to leave the UK at the end of proposed visit.”

    The Nigerian Boxing Board of Control, in a statement, yesterday urged the embassy to rescind its decision.

    The Board said the High Commission’s decision was capable of derailing Olaitan’s career.

    It said: “With this denial of entry visa to Yakubu Kareem and his trainer, Isiaka Olatunji, the implication is that come the 8th of March, 2013, the British boxer Paul Butler, who happens to be the challenger, would be declared as the new champion without throwing a punch.”

    The secretary of the Board, Mr. Remi Aboderin, said: “This is a great injustice and we plead with the sport minister/ministry to please help address this issue before it is too late. The High Commission keeps denying applicants on the basis of the applicants not having sufficient ties or not being economically sound. This boxer needs to be allowed to travel and defend his title; if he is allowed to travel for this fight alone, he stands to earn $7,500.”

     

  • Visa forecasts growth in Africa

    Fundamo, a Visa Incorporated company and the world’s largest specialist mobile financial service provider, has reported growth of mobile financial services in Africa.

    In a statement, the firm said it has launched three new services – FirstMonie with First Bank Nigeria and Celpay, with Celpay International in Uganda and Zimbabwe. “Earlier this year the industry celebrated a decade of banking the unbanked. The market has transformed since we launched the world’s first mobile financial service in a developing economy with Celpay in Zambia. Mobile money providers are rapidly diversifying and consumers are demanding access to more sophisticated services,” Chief Executive Officer, Fundamo, Hannes van Rensburg in a statement.

    “The launch of the services by Celpay International and First Bank Nigeria highlights the growing number of service providers competing to meet consumer demand in Africa. A great deal of credit must go to governments across Africa which are driving the principles of financial inclusion and creating regulatory environments in which services like these can flourish as part of grander ‘cashless society’ plans.

    “We expect to see a host of exciting government schemes gain ground in the next year,” said van Rensburg.

    In Nigeria, it said mobile financial services market is set for phenomenal growth as only 38 per cent of the country’s 160 million people have access to formal financial services.

    Meanwhile, there are over 93 million mobile phone subscriptions in the country, the most in Africa.

    “The majority of consumers surveyed in Nigeria intend to use mobile money to save money for their family (59 per cent) and pay utility bills (58 per cent), the firm said.

    To meet this demand, FirstMonie offers consumers a host of advanced services, including utility payments for airline tickets, electric, insurance, cash withdrawal from an Automated Teller Machine without a bank card, and payment for goods at merchant locations,” he said.