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Finding Balance: GTB’s impeccable gains versus its notable losses, GTB donates medical facility for COVID-19, GTBank, others have begun fulfilling pledges towards fight against Covid-19 (coronavirus), COVID-19: GTBank suspends loan repayment for small businesses, GTBank Releases Q1 2020 Unaudited Results…….. Reports Profit Before Tax of ₦58.2Billion
Segun Agbaje, CEO GTB
Customers of Guaranty Trust Bank will no longer be able to carry out any international transaction on their naira-denominated ATM card.
This came as the bank announced the suspension of international online and PoS transactions on naira Mastercard effective from December 31, 2022.
With this development, customers of the bank are required to obtain dollar cards for all their international transactions.
Letter to customers: While the bank did not give any reason for this action, GTBank in a letter to its customers on Thursday wrote:
“Dear Customer, we write to inform you that you will no longer be able to use your Naira Mastercard for international online and POS transactions effective 31st December 2022. Kindly note that you can use your GTBank dollar card for all your international spending requirements.”
According to the bank, the dollar card allows ATM Withdrawal of $1,000 daily or the equivalent in the transaction’s local currency. It added that with the dollar card, there is no limit to international PoS or online transactions. There will also be no annual spending limit.
Similar actions: Earlier in September this year, one of Nigeria’s leading commercial banks, First Bank had also announced the suspension of international transactions on its naira Mastercard virtual card and visa prepaid naira card from September 30.
“Due to current market realities on foreign exchange, you will no longer be able to use the Naira Mastercard, Naira Credit Card, our Virtual card and Visa Prepaid Naira card for international transactions. This will take effect on 30 September 2022,” First Bank said in a statement to its customers.
“Please use your Visa Debit Multicurrency Card, Visa Prepaid (USD) Card and Visa Gold Credit Card to continue transacting abroad with limits of up to $10,000,” the bank added.
In July, Standard Chartered Bank also suspended international transactions on its naira visa debit card. Flutterwave, Eversend, and other fintech platforms had also stopped virtual card services for international transactions.
Technology Entrepreneur, Dozy Mmobousi to Launch the Dozy Mmobuosi Leadership Centre with Rt. Hon. Mark Simmonds as Chair
NM Press by NM Press 14 hours ago
Technology Entrepreneur, Dozy Mmobousi to Launch the Dozy Mmobuosi Leadership Centre with Rt. Hon. Mark Simmonds as Chair
Tingo, Inc, OTC Markets (TMNA). Dozy Mmobuosi, renowned technology entrepreneur and philanthropist, has today unveiled the new Dozy Mmobuosi Leadership Centre (DMLC), housed in Oxford, United Kingdom, that will welcome its first cohort of African leaders in February 2023, with the aim of developing their skills to help them transform their private and public sector services. The cohort will experience a world-class month-long in-person programme.
The selected participants will be immersed in a learning, coaching and collaborative programme with support from world-leading institutions such as the University of Oxford and leading personnel from the world of business and government.
Each year, the innovative programme will develop the skills of over 35 outstanding leaders from Africa. The centre will also be used throughout the year as a meeting point for world leaders, and researchers, and for high-level events.
Participants will undergo rigorous coaching in key areas including future technologies, artificial intelligence, robotics, leadership; entrepreneurship; capital raise and finance in order to enhance their knowledge and understanding of how they can embrace these tools to transform societies and industries in which they serve.
The DMLC will be supported by Rt. Hon. Mark Simmonds as its Chair. Simmonds previously served as the Parliamentary Under Secretary of State at the Foreign and Commonwealth Office, Minister for Africa the Caribbean, international energy and climate change from September 2012 to August 2014. He was the elected Conservative MP for Boston and Skegness from 7 June 2001 to 2015. Simmonds has also Chaired the UN Security Council on two occasions.
Simmonds said: “The Dozy Mmobuosi Leadership Centre is a transformational and innovative mission to provide African entrepreneurs and sectoral leaders with access to high-level motivation and mentoring of next-generation leaders. The Centre will provide the foundation to drive impact and nurture future leaders in a global society.’’
He added further, ‘’The programme based near Oxford will enable these outstanding Africans to develop and enhance skills in leadership, governance, motivation, finance, technology and innovation. Providing access to some of the world’s most inspirational leaders, ensuring enhanced human capital of young Africans to help their businesses grow and to accelerate Africa’s economic and social development.’’
The founder of DMLC, Dozy Mmobuosi said: “The role and timely launch of this Leadership Centre has never been more important. The climate in which we find ourselves is one of unprecedented uncertainty for the developing world and Africa in particular.
The DMLF will play a key role in developing high-quality accountable leadership in Africa and will seek to address the most complex and difficult of societal issues. Mark has already demonstrated his passion for Africa and good governance and will no doubt be a great asset to the Leadership Centre whilst also listening closely to others to help build a clear vision for the future of the organisation.’’
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