CBN Orders Banks To Destroy Cards Trapped In Atm

The Central Bank of Nigeria has directed
Deposit Money Banks to henceforth destroy
Automated Teller Machine cards trapped in
their ATM terminals.

The CBN also gave banks 24 hours to reverse
debit entries arising from failed transaction
attributable to system-related issues.
The directives were contained in a 14-page
‘Guidelines for card issuance and usage in
Nigeria’ released by the Banking and Payment
System Department of the CBN on Tuesday.
The CBN guidelines read, “Any trapped card in
the ATM shall be rendered unusable (by
perforation) by the acquirer and returned to
the issuer on the next working day.
“All debit entries arising from failed
transactions attributable to system-related
issues must be auto-reversed. Where auto
reversal is not feasible, manual reversal must
be carried out within 24 hours.”
“The security of the payment card shall be the
responsibility of the issuer and the losses
incurred on account of breach of security or
failure of the security mechanism shall be
borne by the issuer, except the issuer
establishes security breach on the part of the
card holder.”
Consequently, banks are to ensure ATM cards
are issued from card schemes that have
demonstrable fraud management systems.
Specifically, the CBN guidelines said banks
were to ensure they deploy “robust fraud
monitoring tools that have the capacity to
monitor customer transaction trends, real –
time operations and option of blocking
suspicious transactions.”
The guidelines further read, “Liability shift
rules shall apply when Nigerian issued EMV
cards are used fraudulently on EMV
compatible terminals where magnetic stripe
fallback is enabled, or at non-EMV compatible
terminals where the transactions is read as a
fully magnetic stripe transaction.
“Card issuers are required to monitor their
card production procedures to ensure that
their EMV cards are properly produced. The
issuer shall take full liability for any fraud from
a fall back transaction that occurred as a
result of improperly produced chip card.”
The central bank said the new guidelines were
introduced to enable financial institutions and
card processors to upgrade their card
operations to ensure optimum security and
customer friendliness, among others.
In the application of customer fees for services
rendered, banks were to be guided in their
operations by the CBN’s ‘Guide to bank
“Card issuers are expected to continuously
educate cardholders on the following, among
other things: security tips for safeguarding
cardholder information; costs and charges
associated with owning and using a payment
card; contact numbers to the card issuer’s
24/7 contact centre in order to report
cardholder issues or problems; dispute
resolution process across the bank’s products
and channels,” the CBN said


TIPS: How to Improve Stage Presence As a Lead Singer.

#Keep water on the stage to prevent you from dehydrating and passing out on stage!

#Use the left and right side if you must move around the stage.. but always fall back to the middle; its your resting ground to gather energy.

#You need strength but dont OVER-EAT, Eat at least one hour before the performance.

#Do not overdo the moving around, remember you are a singer foremost, hitting the right notes and staying in key is more important.

#Try not to be too messed up on substances or you will just run into trouble!

#Do not complain! Unless it is something major, let it go. Do not ever talk bad about your band members, the songs, or the venue. It would have drastic effect on the spirit & required energy needed for a good performance and or else you’ll end up wishing you never performed.

#Do not forget to warm up your vocals before hitting that stage. though lots of distractions at the back stage, but do not be carried away PREPARE !

VIDEO: M.I Freestyle on BBC Radio 1Xtra

BBC Radio 1Xtra‘s DJ Edu is currently in Lagos. As part of the “Destination Africa” show, here’s an exclusive M.I Freestyle. Watch below.



BBC Radio 1Xtra‘s DJ Edu is currently in Lagos. As part of the “Destination Africa” show, here’s an exclusive M.I Freestyle. Watch below.

BBC Radio 1Xtra‘s DJ Edu is currently in Lagos. As part of the “Destination Africa” show, here’s an exclusive M.I Freestyle. Watch below.

BBC Radio 1Xtra‘s DJ Edu is currently in Lagos. As part of the “Destination Africa” show, here’s an exclusive M.I Freestyle. Watch below.

Deejays & Mixtape Sacrifices: Lesson 1

Yap, on a straight to business attitude, lot of Deejays skip, neglect or ignore somethings. As they all seem to be needed or put together to become a complete body.

1. DJ should be conversant with the HIGHEST RATED standard commercial mix of the genre of mix he his working on cos, by so doing DJ understands the expectation, what’s in vogue, newest skills & determine how to develop his for distinction, etc

2. After a very Good knowledge of the above & the mixtape is ready, the media awareness for 1/2 weeks to its release; should be STRONG. The stronger it is better the chances of getting the mix in peoples mind, even the uninterested would want to reluctantly Download the mix on sight based on, “Let me even listen to what they have been making useless noise about”, it is now left for the mix to prove them wrong !

3. This should hav been part of No.2, but it requires employing the services of a PR guy or personally informing web admins