The United Bank of Africa ( UBA ) confirmed it had restricted the use of its debit and prepaid cards for certain transaction.
In informed its customers via an email that the bank will no longer allow customers use their cards for the transaction which includes purchase of Jewellery, P*rnography, Dating and Escort Services, Betting (including lottery tickets, casino gaming chips, off-track betting and wagers).
The email titled “We want you to transact safely,” was routed through its official email address, cfc@ubagroup.com .
PaegOne reached out to UBA via one of its social platform, and in a swift response, the bank confirmed the news. See image below:
The email to customers reads:-
We wish to inform all cardholders that we have placed restrictions on the Bank’s debit and prepaid cards from carrying out transactions with merchants that are transacting on the following business categories;
-Jewellery
-P*rnography
-Dating and Escort Services
-Betting (including lottery tickets, casino gaming chips, off-track betting and wagers)
This has become necessary with the increased need to protect our customers and the institution from fraud, litigation and reputational damages.
Thank you.
It is not clear if many other commercial banks will follow UBA’s path. Nigeria is currently in an upsurge of online betting and Ponzi schemes that allow people to invest or buy packages that are promoted for high returns.
