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CWG, GRG Banking out to change ATMs experience in Nigeria

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6 years ago

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The leader in systems integration in Nigeria, CWG Plc and a leading high-tech company out of China, GRG Banking; have inked an agreement to support the Nigerian Apex Bank, CBN, in changing the narrative on financial inclusion by 2020.

The innovative companies at this time have set about providing Nigerian financial institutions with the best-in-class Automated Teller Machines (ATMs) that will ease the burden of functionality, efficiency and accessibility of funds for the populace.

According to reports, one of the greatest challenges the Apex bank, CBN has been faced with has been closing the gap between the financially excluded Nigerians, which stood at 46 per cent in 2010, with the aim of reaching a 20 per cent in 2020.

Apparently, as at last count this 2018, it has achieved a 5 per cent reduction in 8 years which makes it glaring that some support will be needed from other financial experts; likes of CWG and GRG Banking, to help achieve this laudable goal of bringing everyone to a digital platform where financial transactions for the payment for goods and services are done electronically through various electronic channels that are efficient, affordable, safe and secure; delivered in a responsible and sustainable way.

Meanwhile, GRG Banking is a subsidiary of Guangzhou Radio Group (GRG); a state owned organisation which ranks TOP100 IT companies in China with businesses covering many areas; such as smart transportation solutions, public security with AI technologies like biometrics identification, image and video analysis, big data, and much more.

This Banking subsidiary offers financial self-service products, solution and service area and has successfully deployed her products and solutions in Nigeria for the past 5 years; Intelligent Cash Deposit machines and Cash Recyclers(P Series) Cash Recycling ATMs(H Series) , Cash sorting Machines( CM Series) and recently Cash Dispensing ATMs( N and V Series)

CWG Plc, has been at the forefront of most financial technology innovation in the country in the last two decades; deploying software solutions to over 60 Financial Institutions that have helped to change the narrative of what financial efficiencies should be, with the inclusion of core-banking software like Finedge, VSAT and Infosys Finacle, huge gaps have been closed in the financial industry in Africa.

In 2005, GRG Banking developed its own core module of cash recycler, which brought to its business a big success in China market and global market as well. In 2007, GRG Banking was listed in the Shenzhen stock market of China. Since 2008, GRG Banking took the first place of ATM market share in China and on the 1st of November 2010 the first Chinese ATM R&D Academy; GRG R&D Academy was founded by GRG Banking.

Presently, GRG Banking serves a number of Financial Institutions like Banks and CIT Companies with their products and their alignment with CWG Plc has brought on more opportunities to provide these services. Only recently, CWG supplied GTB with over 100 new GRG Banking ATMS across Nigeria with the intention to spread to over 1,000 across West Africa in coming months.

CWG’s ATM as a Service (CWG-AaaS) concept is also one of the GRG business extensions CWG will be serving to other financial Institutions in the coming weeks. The vision to deploy technology solutions that enable economic growth has been part of the core of CWG’s mandate in the last few years and it is actively geared towards delivering on that mandate as the H2 of the year moves to full blast.

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AISA Has Refunded The Fees Paid By Yahaya Bello To EFCC

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6 days ago

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April 27, 2024

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The Economic and Financial Crimes Commission (EFCC) says the American International School Abuja (AISA) has refunded the fees paid by the immediate past governor of Kogi state, Yahaya Bello, for his children attending the school.

In response to a letter addressed to the Lagos zonal commander of the EFCC, the school said $845,852 was paid in tuition “since the 7th of September 2021 to date”.

AISA said the sum to be refunded is $760,910 because it had deducted educational services already rendered.

“Please forward to us an official written request, with the authentic banking details of the EFCC, for the refund of the above-mentioned funds as previously indicated as part of your investigation into the alleged money laundering activities by the Bello family.

Since the 7th September 2021 to date, $845,852.84 (Eight Hundred and Forty-Five Thousand, Eight Hundred and Fifty Two US Dollars and eighty four cents) in tuition and other fees has been deposited into our Bank account.

We have calculated the net amount to be transferred and refunded to the State, after deducting the educational services rendered as $760,910.84. (Seven Hundred and Sixty Thousand, Nine Hundred and Ten US Dollars and Eighty Four cents).

No further additional fees are expected in respect of tuition as the students’ fees have now been settled until they graduate from ASIA.”

In a chat with The Cable, the spokesperson of the EFCC, Dele Oyewale, confirmed that the school has refunded the money.

‘’The money has been paid into public account,” Dele Oyewale was quoted as saying

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Godwin Emefiele Disobeyed Direction Of Law With Intent To Harm The Public, He Printed ₦684.5M Using ₦18.9B Says EFCC in fresh charge

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1 week ago

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April 23, 2024

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The Economic and Financial Crimes Commission has filed a fresh charge at the High Court of the Federal Capital Territory against the embattled former governor of the Central Bank of Nigeria, Godwin Emefiele.

EFCC in the charge accused Emefiele of approving the printing of N684,590,000 at the rate of N18.96 billion.

EFCC also alleged that Emefiele broke the law with intent to harm the public during his implementation of the naira swap policy of the administration of former President Muhammadu Buhari.

The anti-graft agency also accused Emefiele of unlawfully approving the withdrawal of N124.8 billion from the Consolidated Revenue Fund of the Federation.

EFCC’s top prosecutor, Rotimi Oyedepo, SAN revealed that Emefiele will be arraigned on a new four-count charge before Justice Hamza Muazu

Counts one to four of the charge, read,

“STATEMENT OF OFFENCE: Public Servant disobeying direction of law with intent to cause injury to the public contrary to and punishable under Section 123 of the Penal Code Law, Cap. 89 Laws of the Federation, 1990.

“PARTICULARS OF THE OFFENCE: That you GODWIN IFEANYI EMEFIELE between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of N375,520,000.00 pieces of colour swapped N1, 000, at the total cost of N11,052, 068,062 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.”

This and three other charges were stated against him. They read;

“COUNT 2: “That you, GODWIN IFEANYI EMEFIELE, between the 19th of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the Central Bank of Nigeria Act, 2007, by approving the printing of 172,000,000 pieces of colour swapped N500 (Five Hundred Naira) Notes, at the total cost of N4, 471,066,040 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.

“COUNT 3: “That you GODWIN IFEANYI EMEFIELE between the 19th day of October 2022 and 5th March 2023 in Abuja, knowingly disobeyed the direction of Section 19 of the CBN Act, 2007, by approving the printing of 137,070,000 pieces of colour swapped N200 (Two Hundred Naira) Note, at the total cost of N3, 441, 005, 280 without the recommendation of the Board of Central Bank and the strict approval of the President, Federal Republic of Nigeria which conduct of yours caused injury to the public and you thereby committed an offence.”

“COUNT 4: “That you, GODWIN IFEANYI EMEFIELE, on or about the 7th day of October 2020, in Abuja, within the jurisdiction of this Honorable Court, knowingly disobeyed the direction of Section 80 of the Constitution of the Federal Republic of Nigeria, 1999 (As Amended), by approving the withdrawal of the total sum of N124, 860, 227, 865.16 from the Consolidated Revenue Fund of the Federation in a manner not prescribed by the National Assembly, which conduct of yours caused injury to the public and you thereby committed an offence.”

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Immigration Office Place Ex Governor, Yahaya Bello On Watchlist While IG Of Police Withdraws All Police Officers Attached To Him

Published

2 weeks ago

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April 19, 2024

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The Inspector General of Police, Olukayode Egbetokun, has withdrawn all police officers attached to the embattled former Governor of Kogi State, Yahaya Bello.

The order for the withdrawal was contained in a police wireless message. The document with reference number:

“CB:4001/DOPS/PMF/FHQ/ABJ/VOL.48/ 34 reads in part;“IG has ordered the withdrawal of all policemen attached to His Excellency and former Executive Governor of Kogi State, Alhaji Yahaya Bello. Acknowledge compliance and treat with utmost importance.

Please, above, for your information and strict compliance.”

Meanwhile, the Nigerian Immigration Service has placed the former governor on its watchlist.

This comes after the Economic and Financial Crimes Commission on Thursday, April 18, declared him wanted in connection to an alleged case of money laundering to the tune of N80.2bn.

From EFCC

In a circular signed by an Assistant Comptroller of Immigration, DS Umar, for the Comptroller-General, Kemi Nandap, the NIS detailed the former governor’s name, nationality, and passport number.

From National Immigration Office

And read;

“I am directed to inform you that the above-named person has been placed on the watch list.

Suffice to mention that the subject is being prosecuted before the Federal High Court Abuja for conspiracy, breach of trust, and money laundering vide letter Ref; CR; 3000/EFCC/LS/EGCS.1/ TE/Vide/1/279 dated April 18, 2024.

If seen at any entry or exit point, he should be arrested and referred to the Director of Investigation or contact 08036226329/07039617304 for further action.” the circular reads in part.

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