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    The Corporate Affairs Commission (CAC) has set August 1, 2026, as the deadline for companies to comply with statutory rules governing business letters, warning that violators will face sanctions. In a public notice issued Wednesday, the commission said the enforcement drive is anchored on Sections 304(1) and (2) and 729(1)(c) of the Companies and Allied Matters Act (CAMA) 2020, and covers all companies registered under the Act or any law it replaced. The law requires every company to state on its business letters the current and any former forename or initials and surname of each director, along with the nationality of non-Nigerian directors. Companies must also display their registered name, registration number and registered office address clearly on all business correspondence. “Commencing the 1st day of August 2026, the Commission shall enforce the full application of the requirements of Sections 304(1) & (2) and 729(1)(c) of the Act with respect to company business letters with attendant sanctions for non-compliance,” the CAC said. The commission urged companies to review their letterheads and official correspondence ahead of the deadline, noting that the move is designed to ensure accurate disclosure of director and corporate information while deepening compliance with CAMA 2020. CAC reaffirmed its commitment to transparency, accountability and customer satisfaction as part of efforts to build a more resilient and responsive corporate regulatory environment.

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Fidelity Bank Introduces Cardless ATM Withdrawals

Seunmanuel Faleye by Seunmanuel Faleye
January 19, 2023
in Brand & Business Bite, News Bite
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Fidelity Bank customers can now enjoy increased convenience with their Automated Teller Machine (ATM) transactions as the bank recently announced the introduction of its cardless withdrawal service.

The feature allows Fidelity Bank accountholders to make withdrawals at any Fidelity Bank ATM nationwide with the aid of their registered phone numbers alone.

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Speaking on the new feature, Divisional Head, eBanking, Fidelity Bank Plc, Ifeoma Onibuje said; “We know how frustrating it can be when you get to the ATM only to discover that you forgot your debit card at home. To address this and in support of the cashless policy, we recently introduced cardless withdrawals via our ATMs. The service is currently available at all Fidelity Bank ATMs across the country and we are recording favourable feedback from customers who have used the service.”

For cardless withdrawals, requesting customers would simply dial 7708*AMOUNT# from their registered phone numbers and follow the on-screen prompts to create a one-time PIN (OTP), then enter the PIN to get a Paycode. At the ATM, the customer would enter the Paycode, PIN, and Amount to get the cash.

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“The introduction of cardless withdrawals forms part of our strategy to help our customers transition to the newly introduced Naira notes as well as the cashless policy. You will recall that we extended our banking hall service to 6pm on weekdays and have our branches open between 10am and 2pm on Saturdays till the end of January 2023.”

“Similarly, we have configured our ATMs to dispense the newly introduced currencies and customers are now accessing the redesigned Naira notes through all our ATMs nationwide,” divulged Onibuje.

Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 7.2 million customers serviced across its 250 business offices and digital banking channels.

The bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

Seunmanuel Faleye
Seunmanuel Faleye

Seunmanuel Faleye is a brand and communications strategist. He is a covert writer and an overt creative head. He publishes Apple’s Bite International Magazine.

Tags: FidelityFidelity Bank Introduces Cardless ATM Withdrawals

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