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I’m about to be homeless, lady cries out over trapped savings in Eyowo

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9 months ago

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One of the customers of Eyowo, one of Nigeria’s digital banks, whose licence was recently revoked by the Central Bank of Nigeria (CBN), has cried out over her rent saved with the company, saying she would be homeless in about two weeks if the company does not release her money.

Speaking during a Twitter space hosted by Eyowo to update its customers on the efforts to regain its operating licence from the CBN, the lady identified as Chikamso said she had been saving the money for her rent on the app and the rent is now due but unable to withdraw.

  • “I just really need to know when this is going to be fixed and when I can access my money because I’m about to be homeless. I put my savings for my rent in there and I need this fixed in a week or two. If not, I don’t know where I’m going to be sleeping,” she said

Startup plan stalled

For another Eyowo customer identified as Edwin, his plans to save up to fund his startup idea have been stalled by the revocation of the company’s licence and the restriction of access to customers’ funds. Edwin also lamented that the company has kept on assuring its customers over the past two months and yet there was no solution in sight.

  • “I’m quite disappointed at how it has been handled to this point. Yes, we’re all waiting for the resolution of the licence issue, but there are things that people need money for. I’ve been saving for like three years now. All my savings since I started working has been in Eyowo and at this point, I do not have any savings again. I’m only living on my salary I cannot do things I want to do.
  • “I’m trying to create a startup to solve problems and I say look, let me save this amount of money. I want to pay people now to build my business, but I can’t. I just needed the money to invest in my business now so that I could move ahead. Everybody wants to move ahead in their life or in their career. Every meeting we have had, you always say ‘we are getting there, we are getting there’ yet we are yet to get our money,” he said.

Close to resolution

While apologizing to the customers for all the inconvenience, the Co-founder and CEO of Eyowo, Yomi Adedeji, said the company is now close to resolving its issues with the CBN. He, however, said he would not want to give any specific date for when customers could resume normal activities on their accounts in order not to raise their hopes.

  • “Essentially what I’m trying to say is that we are at the tail end of what we need to do to get ourselves back up. However, our regulators and those who are like our regulators, we do not have any complete control over their bureaucratic process, we have no control over the approval process internally. And we can only just wait and follow it through,” he said.
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FAAN begins sale of e-tags at airports

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1 hour ago

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May 17, 2024 11:59 am

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The Federal Airport Authority of Nigeria (FAAN) has begun the sale of electronic tags (e-tags) at airports.

In a statement on Friday, FAAN said this initiative is in line with the presidential directive that mandates the use of e-tags for accessing the nation’s federal airports.

“Following the presidential directive that all citizens are mandated to pay for e-tags at all the 24 federal airports across the country, we wish to inform the general public that the e-tags are available for sale from Friday, 17th May, 2024 at the following locations,” FAAN said.

“Lagos: Murtala Muhammed International Airport Lagos, Terminal 1, 5th Floor) Office of HOD Commercial. Contact: 08033713796 or 08023546030.

“Abuja: Nnamdi Azikiwe International Airport, HOD Commercial Office (General Aviation Terminal) Contact: 08034633527 or 08137561615.”

FAAN said there will be an option to pay in cash at the access gates for motorists without e-tags.

On May 14, Festus Keyamo, minister of aviation, announced everyone, including the president and vice-president, would pay tolls at the nation’s airports.

Keyamo said the government was losing over 82 percent of the revenue it should have earned from the access fee.

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Business

Emirates Airlines return to Nigeria October 1

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1 day ago

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May 16, 2024 12:45 pm

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Emirates Airlines has confirmed its return to operations in Nigeria starting October 1, 2024.

The airline disclosed this via its official X handle Thursday.

“We’re back, Nigeria! We’ll be resuming services to Lagos from 1 October 2024, and we can’t wait to offer unrivalled connectivity to Dubai and beyond to over 140 cities,” the tweet read.

The airline will be operating a daily service between Lagos State and Dubai, and will offer customers more choice and connectivity from Nigeria’s largest city to, and through, Dubai.

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Naira appreciates at official window, depreciates at parallel market

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1 day ago

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May 16, 2024 8:33 am

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The naira depreciated to N1,550 against the dollar at the parallel section of the foreign exchange (FX) market on Wednesday.

The current FX rate signifies a decline of 1.95 percent from the N1,520/$ reported on May 13.

Currency traders, also known as street traders, in Lagos, quoted the buying rate of the local currency at N1,510/$ and the selling rate at N1,550/$ — leaving a profit margin of N40.

At the official window, the local currency appreciated by 4.21 percent against the dollar from N1,520.4/$ on May 14 to close at N1,459.02 on Wednesday.

According to FMDQ Exchange, a platform that oversees the official window, a dollar was sold as high as N1,593 and at a low rate of N1,401 during trading hours.

The daily foreign exchange market turnover was $289.14 million.

On May 14, the Economic and Financial Crimes Commission (EFCC) said foreign missions based in Nigeria use third parties to transact in foreign currencies.

Speaking during an interview, Wilson Uwujaren, EFCC’s acting director of public affairs, said the commission has a task force whose duty is to fight the abuse of the naira and discourage transactions in dollars within Nigeria — which is against the law.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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