Hello ______,
Delight here,
Here’s what I have for you today:
- Battling dream jobs as a sickler
- CBN and the contactless payment plan for 2025
- GTBank, MTN and Air Peace under FCCPC scrutiny
Battling dream jobs as a sickler
Have you ever experienced that feeling of wanting to do a lot of things but can't, due to situations beyond your control? How does one handle that?
Living with Sickle Cell Disease (SCD) presents these challenges especially when navigating the demands of a career.
SCD is characterised by chronic health issues including pain episodes, fatigue and increased risk of infection. These symptoms make it difficult to maintain a consistent work schedule and manage high-pressure tasks.
Hospitalisations are frequent with patients often requiring multiple visits for pain crises and other complications.
For Aaron*, this is something he's learnt to deal with. Battling Sickle cell, it's hard to have a dream job or make work plans or even have expectations on how things will go career-wise when surviving takes all that energy.
Adulthood is hard enough, with the pressure of being self-reliant and making something of your life, you try so hard to figure things out while your body focuses on surviving.
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After trying out a marketing gig, he’s decided to hold off for now. Add up losing a loved one to the same SCD and the mix isn’t something you would find soothing.
Want to know more about Aaron and how he’s still fighting despite hurdles? Read his story here.
CBN and its new guidelines for 2025
With the global shift towards digital financial ecosystems, the Central Bank of Nigeria (CBN) has strengthened its focus on electronic payments and digital currency frameworks with the release of its new guidelines for 2025.
Open banking is part of the CBN’s strategy to drive innovation and financial inclusion. By enabling secure data sharing across financial institutions, open banking offers a framework for secure Application Programming Interfaces (API’s) that ensure the privacy and security of consumer data.
CBN is also enhancing the functionality of its Central Bank Digital Currency (CBDC), the eNaira, to boost adoption. The guidelines now provide clearer operational frameworks for merchants, individuals and fintech to integrate the eNaira into their payment systems.
Recognising the growing demand for fast, safe and hygienic payment methods, particularly after the COVID-19 pandemic, CBN is moving towards the adoption of contactless payments. The guidelines include card technology upgrades
The CBN wants banks to work on making contactless debit and credit cards,while retailers should possess a Pos system that supports Near field communication technology. Customers will be given a set limit for transactions to minimise risks.
To combat financial crimes, the Central Bank has updated its AML and Counter-Terrorist Financing (CTF) policies, with revised guidelines mandating stricter Know Your Customer (KYC) protocols.
The Central Bank now has more comprehensive requirements for granting digital banking licences, promoting a safer and more regulated digital banking environment.
While challenges such as implementation hurdles and stakeholder resistance remain, the reforms present a pathway for economic growth, innovation and global competitiveness.
FCCPC to scrutinise complaints against MTN, GTBank and Air Peace
Recall how GTBank experienced disruptions during the migration to a new core banking system in October 2024? The network failures left customers unable to access funds or use digital banking services.
Well, it turns out the bank is now under scrutiny by the Federal Competition and Consumer Protection Commission (FCCPC) due to the complaints made by customers.
FCCPC has initiated a thorough investigation into consumer complaints against GTBank and two other prominent Nigerian companies; telecom giant MTN Nigeria, and Air Peace Airline.
For MTN Nigeria, customers have reported issues related to undelivered data services, unexplained data depletion and inadequate customer support.
GTBank on the other hand is being scrutinised for its network failures, although the challenges appear linked to the bank’s transition to a new core banking system which caused widespread disruptions.
Allegations against Air Peace include exploitative ticket pricing, particularly significant price increases for bookings on certain domestic routes. This has raised concerns about fairness in pricing strategies.
The FCCPC inquiry is grounded in the Federal Competition and Consumer Act (FCCPA) of 2018. The Act empowers the commission to investigate practices that may undermine consumer rights, create unfair competition, or disrupt market fairness.
The inquiries are scheduled to commence on December 3, 2024, for GTBank, December 4 for MTN, and December 5 for Air Peace. The inquiries are to seek clarifications, address consumer grievances, and enforce compliance with regulatory standards.
In case you missed them
- Chinese eCommerce company, Temu becomes the most popular Android and iPhone app in Nigeria
- Bitmama pauses virtual MasterCard services following issues with the card provider
What I'm watching and reading
- Chip War, the Race for Semiconductor Supremacy
- The Psychology of Money by Morgan Housel
Opportunities
- Join Opeyemi Olugbemiro at Pitch Friday on December 13, 2024 and discover the art of storytelling that wins customers. Apply here.
- Flutterwave is currently looking to fill several vacancies. Apply here.
- Moniepoint is hiring for several roles. Apply here.
- Follow Techpoint Africa's WhatsApp channel to stay on top of the latest trends and news in the African tech space here.
Have a productive week!
Sunny Delight for Techpoint Africa.
