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Life’s a Lot More Easier with FirstBank Cards

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By Eric Elezuo

Like the dynamite, few things in life come in small in packages, but have far reaching benefits and rewards. One of such is the FirstBank range of cards.

The world as we know it today, is a global village, and its connectivity is a at tip of an individual’s finger. That aside, it also revolves round the use of ‘ordinary’ but highly customised cards which FirstBank is first in providing.

For 125 years and counting, FirstBank, Nigeria’s premier bank, with accolades and awards trailing its existence, has continued to blaze the trail in certainly every financial innovation. And as the name signifies, has continued to be the first in virtually everything banking and finance. There is hardly any banking innovation, which is not traced to the company that has overtime woven itself into the very fabric of the society.

FirstBank cards come in a wide range of categories, each fulfilling tasks that are better imagined, but nevertheless are flexible and offers comfort, stressless banking and wholesome peace of mind. It is not therefore, a coincidence that FirstBank is and remains Nigeria’s highest card transacting bank; it is a product of carefully thought out process, hard work and the need to keep its customers first in all things.

The range of cards available to FirstBank include Naira Master Card, Visa Gold and not forgetting Visa Multi-Currency Card.

Otherwise known as NMC, FirstBank’s NAIRA MASTER CARD (NMC) is a class on its own. it comes with automatic increased limits for international transactions in a such a way that customers are at liberty to spend up to $5000 monthly across all channels with a daily ATM cash withdrawal limit of $300. It’s surely a great deal! One wonderful thing about the NMC is there is absolutely no need for BTA/PTA, Business Travelling Allowance and Personal Travelling Allowance respectively.

To enjoy absolute seamless transactions with NMC, customers should endeavour to:

  • Change their PIN before travelling out of the country to avoid transaction failures/invalid card.
  • Not to swipe their cards on any terminal, rather, should insert card and use their PIN
  • Tap with their Naira MasterCard contactless cards to make payments for their transport fares if in the UK.

Other mouth watering offers the NMC provides involves access to seamless airline bookings, especially with Emirates Airlines. The service quick, secure and convenient.

It also offers the Protect Card Transactions feature, which can be activated or deactivated for all types of transaction. This is done by using the Card-in-Control Service on Firstmobile or the USSD option. To achieve this, the customer can only take these few and quick steps below:

Firstmobile: Go to Self Service – Card service and choose card type (debit, credit, or prepaid) to be activated or deactivated.

USSD: Dial *894# – Quick banking – Card management. Customer selects card and appropriate channels to activate or deactivate.

Generally, FirstBank Naira MasterCard is a chip and PIN Debit Card which can be used anywhere in the world. It offers a convenient alternative to the use of cash, and cheques. It can be used to make purchases online, pay bills and access cash at ATMs worldwide. It is a naira denominated card and linked to both current or savings account.

Another card innovation service exclusive to FirstBank is the VISA GOLD CARD, which offers higher daily spending capacity and limit on ATM, POS and WEB. With the VISA GOLD CARD, the customer is assured of $1000 daily ATM withdrawal, $10, 000 POS transaction and $5, 000 on the WEB at only location around the world.

More so, it guarantees access to international emergency services such as Emergency Card Replacement & Emergency Cash Advance in situations where the card gets lost or damaged.

Like the NMC, Visa Gold Card also requires a customer to change PIN before travelling out of the country and avoid swiping cards on any terminal. It also come in handy when making airline bookings with its smooth seamless purchase options.

FirstBank visa gold card is an international premium credit card issued in partnership with visa international. it is a US Dollars denominated credit card and secured by PIN and chip technology

The third among the FirstBank’s super cards is VISA DEBIT MULTI-CURRENCY CARD. It is by all intent and purpose the first of its kind to be offered by any financial institution in Nigeria. Here, customers within and outside the country can enjoy the luxury of having their local and foreign denominated accounts linked to a single Debit card. It is an enhancement to the existing Visa Debit Dual Currency card and can be linked to either or all your NAIRA, USD, EURO and GBP accounts. It is an international card with Chip and PIN technology which can be used to make payment anywhere in the world and across all channels – ATMs, POS & Web. This is unbeatable, and better explains why FirstBank is truly the first.

Among the qualities that make the card thick are:

  • Can be used to make purchases online, pay bills and access cash at ATMs worldwide.
  • Secured by Chip & PIN technology with a lifespan of 3 years.
  • Requires no Cash collateral before issuance.
  • Global acceptance on ATM, POS and WEB.
  • Additional protection for web-based transactions with “Verified by Visa” (VbV).

With the Visa Debit Multi-Currency card, holders can make daily withdrawals to the tune of N150, 000 (local) and $1, 000 (international) from the ATM.

Also, savings account holders can undertake up to N500, 000 transaction on POS while current has more extensive offer of daily POS transaction of N2, 500, 000. However, this offer comes with $2, 500 for international transactions on same channel.

However, on the WEB, a total of N1, 000, 000 is permitted locally while $6, 250 is allowed on the international corridor daily.

For a brand that has consistently remained on top of its game, FirstBank Cards have received global recognition, as well as being honoured for its down to earth and trusted services.

Among its awards and recognitions are:

  • Digital Bank of Distinction, Nigeria” award in the Global Finance Best Digital Banks Awards for two consecutive years, 2016 and 2017.
  • Cashless Champion Award of MasterCard International on POS International transactions acquiring. (Q1 2017)
  • Interswitch awards (2017) in the following categories:
      • Fastest Mobile Penetration in Africa
      • Highest Card Transacting Bank in Nigeria
      • Highest Verve Issuing Bank
  • FY 2016, the Bank won awards in the eBusiness category. They are:
    • Asian Banker award for Best Mobile Payment Product for West Africa
    • Asian Banker award for Credit Card of the Year for West Africa
    • Global Finance Award for ‘Digital Bank of Distinction – Emerging Markets, Africa Category’.
  • Q4 2015, the Bank won two awards in the eBusiness category. They are:
    • MasterCard Cardless Champion award for International acceptance across all POS channels
  • MasterCard Cardless Champion award for Mobile POS (MPOS) merchant acquisition.

 

In December 2015 and May 2016, FirstBank was named the first financial institution in the country to achieve sustained alternative channels transaction volumes of 100 million transactions.

FirstBank’s accolades transcend the ordinary!

What are you waiting for? Visit a FirstBank branch today and complete a debit card application form of your choice.

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2025: UBA Charts Path, Focuses on Innovation, Sustainability, Expands Operations to Saudi Arabia, France

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Africa’s Global Bank, United Bank for Africa (UBA) Plc, has outlined its roadmap for the 2025 financial year, with a strong focus on innovation, digital transformation, physical and financial strength as well as its global reach.

On the back of its full-year financial performance for the year 2024, which was released to stakeholders on Tuesday, the bank disclosed plans to accelerate growth through strategic investments in technology, enhanced risk management frameworks, and capital efficiency.

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who was speaking to its global investors during the Full year 2024 Investors Conference Call, which held at the UBA Head Office on Thursday, explained that the performance reflected broad-based growth across its core businesses, surpassing previous records and reinforcing its status as a leading global financial institution.

At the end of the 2024 full-year, the bank delivered an exceptional financial performance as the results showed an impressive rise in the bank’s profit after tax which went up by 26.14 percent to close the year at N766.6 billion up from N607.7 billion recorded at the end of the 2023 fiscal year.

Its Gross earnings also grew significantly from N2.07tn recorded at the end of the 2023 financial year to N3.187tn in the period under consideration, representing a 53 percent growth.

Despite the highly challenging global economic and business environment, UBA recorded a profit before tax of N803.72 billion representing a 6 percent increase from N757.68 billion recorded at the end of the 2023 financial year.

Consequently, UBA Group Shareholders’ Funds rose from N2.030 trillion as at December 2023 to close the 2024 financial year at N3.419 trillion, achieving an impressive growth of 68.39 percent.

As a result of the impressive performance the bank proposed a final dividend of N3.00 kobo for every ordinary share of 50 kobo, for the financial year ended December 31, 2024.

Alawuba told the investors at the meeting that the bank is set to further surpass its growth projection through strategic investments in technology, enhanced risk management frameworks, and disciplined capital efficiency.

“We will continue to push the frontiers of innovation and technology adoption to build sustainable value for shareholders by making strategic investments in technology. Our team of committed and motivated workforce will continue to work assiduously to sustain our performance and propel the bank in delivering high-impact, customer-centric product offerings,” Alawuba stated.

He disclosed that the bank is on course to sustain the momentum that it has achieved in the past years, adding that “We shall remain focused on best-in-class risk management strategies in navigating emerging market uncertainties while ensuring financial strength, full regulatory compliance, and long-term sustainability.”

This performance underscores UBA’s ability to generate sustainable revenue growth through core operations, including increased loan book growth, deposit mobilization, and transaction banking.

While disclosing the Bank’s finalisation of its planned expansions to France and Saudi Arabia, he said  that the Bank’s ex-Nigeria (Rest of Africa & International) operations have expanded significantly over the past five years, now contributing 51.7% of Group revenue, up from 31% in 2019, “delivering diversification benefits and further boosting long-term shareholder value. This will continue to grow, as we further explore strategic markets that align with our overall vision.”

UBA’s Executive Director, Finance & Risk Management, Ugo Nwaghodoh, said the bank recorded triple digit growth in net interest income, resulting in remarkable improvement in net interest margin from 6.83 percent in 2023 to 9.14 percent, while also recording strong double-digit growth in fee and commission income lines of 91.66 percent.

He explained that as the bank navigates evolving risks, its management remains focused on responsible growth, delivering customer-focused value propositions, whilst ensuring compliance with regulatory requirements in all jurisdictions.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

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2024: UBA Grows Profit to ₦804bn, Declares N3.00 As Final Dividend

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Solid core earnings drive growth in profitability and returns…

Africa’s Global Bank, United Bank for Africa (UBA) Plc, has released its audited financial results for the full year ended December 31, 2024, with all its major indicators witnessing significant improvement.

The 2024 financials, filed with the Nigerian Exchange Limited (NGx) on Monday, showed an impressive rise in the bank’s profit after tax which went up by 26.14 percent to close the year at N766.6 billion, up from N607.7 billion recorded at the end of the 2023 fiscal year.

The Bank’s gross earnings also grew significantly from N2.08tn recorded at the end of the 2023 financial year to N3.19tn in the period under consideration, representing a 53.6 percent growth.

Like in the previous years, the banks’ total assets also rose remarkably by 46.8 percent, from N20.65 trillion in 2023, to close at N30.4 trillion in December 2024; signifying a milestone leap for the bank with the largest spread across the continent.

Despite the highly challenging global economic and business environment, UBA recorded a profit before tax of N803.72 billion representing a 6.1 percent increase from N757.68 billion recorded at the end of the 2023 financial year.

Consequently, UBA Group Shareholders’ Funds rose from N2.030 trillion as at December 2023 to close the 2024 financial year at N3.419 trillion, achieving an impressive growth of 68.39 percent.

As a result of the impressive performance and in fulfilment of the promise made by the UBA Group Chairman, Tony Elumelu, to shareholders at the last Annual General Meeting, the Bank proposed a final dividend of N3.00 kobo for every ordinary share of 50 kobo, for the financial year ended December 31, 2024. This brings the total dividend in the year to N5.00. The final dividend is subject to the ratification of the shareholders during its upcoming Annual General Meeting (AGM).

UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who expressed excitement at the results, stated that the 2024 financial performance demonstrates the bank’s continued focus on driving earnings growth, preserving asset quality, expanding business operations and deepening market share.

“Our continued investment in our highly diversified global network allows UBA to deliver high quality, consistent earnings. Our businesses have been able to grow product and service income and expand our deposit base, allowing the Group to increase earnings, while maintaining strong spreads and margins,” Alawuba highlighted.

According to him, “With total deposit increasing by 42.03 percent from N17.4 trillion in 2023 to N24.7 trillion and total assets hitting N30.4 trillion from N20.7 trillion, the just released results reflect broad-based growth across all core businesses and were achieved despite prevailing macroeconomic challenges, geopolitical uncertainties, and exchange rate volatilities.”

The GMD expressed excitement at the marked improvement recorded in the bank’s core earnings profile, as he explained that the profit is derived from high-quality income streams from funding intermediation, fees and commissions, thus reflecting strong long-term, sustainable revenues generation capacity.

“Our ex-Nigeria (Rest of Africa & International) operations have expanded significantly over the past five years, now contributing 51.7% of Group revenue, up from 31% in 2019, delivering diversification benefits and further boosting long-term shareholder value. This will continue to grow, as we further explore strategic markets that align with our overall vision. We are currently upgrading our business scope and authorization in France, and considering other viable markets in the short to medium term,” Alawuba noted.

He pointed out the bank’s resolve to invest continuously in technology, data analytics, product innovation, staff training and development, which, according to him, will collectively enhance our customers’ experience.

On his part, UBA’s Executive Director, Finance & Risk Management, Ugo Nwaghodoh, said the bank recorded triple digit growth in net interest income, resulting in remarkable improvement in net interest margin from 6.83 percent in 2023 to 9.02 percent, while also recording strong double-digit growth in fee and commission income lines of 91.66 percent.

“UBA Group continues to demonstrate strong capital levels, with shareholders’ funds growth of 68.4% to N3.42 trillion and a solid capital adequacy ratio of 31.0%., and as we defensibly position the portfolio to navigate prevailing global and regional macroeconomic upheavals, asset quality improved, with NPL ratio moderating to 5.58%, with strong provision coverage at 81%”, Nwaghodoh noted.

He explained that as the bank navigates evolving risks, its management remains focused on responsible growth, delivering customer-focused value propositions, whilst ensuring compliance with regulatory requirements in all jurisdictions.

United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting edge technology.

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Heirs Holdings, GIVO Africa Partner to Tackle Plastic Waste for Sustainable Future

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Heirs Holdings, a leading pan-African investment company with a portfolio spanning the power, energy, financial services, hospitality, real estate, healthcare and technology sectors, has announced its strategic partnership with GIVO Africa, a climate technology and recycling company, reinforcing the company’s deep commitment to driving initiatives that deliver meaningful impact.

This initiative will advance Heirs Holdings’ efforts in promoting a circular economy in Africa; fostering sustainable practices that minimise waste and maximise resource efficiency.

Over the past 15 years, Heirs Holdings’ impact-driven approach has been instrumental in shaping Africa’s business landscape, underscoring its commitment to long-term, sustainable development. Guided by its Africapitalism philosophy, Heirs Holdings has championed inclusive growth by investing in businesses that drive economic transformation, generate employment, and uplift communities across the continent.

Speaking on the partnership, Group Sustainability Officer at Heirs Holdings, Clari Green said: “At Heirs Holdings, we believe in a shared destiny with our local communities—businesses have a responsibility to drive sustainable solutions that create lasting economic and environmental impact. This initiative reinforces our commitment improving lives and driving meaningful transformation across our continent.”

Similarly, CEO of GIVO Africa, Victor Boyle-Komolafe remarked: “We are excited to join forces with Heirs Holdings in tackling plastic waste and promoting a circular economy in Africa. By leveraging our expertise in climate technology and community engagement, we are confident that this partnership will contribute significantly to environmental conservation while fostering economic opportunities.”

Heirs Holdings continues to lead in sustainable business practices, integrating sustainability into its corporate strategy to tackle environmental challenges while fostering meaningful social impact.

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