Category: News

Bitcoin in Nigeria: After the Ban

Recently, the Central Bank of Nigeria (CBN) banned Nigerian banks from dealing in all forms of cryptocurrencies; including bitcoin.

Why was Bitcoin banned?

The Central Bank of Nigeria cited ‘use of digital currency for laundering and terrorism‘ as the chief reason for banning cryptocurrencies. This comes shortly after several bulls run in the price of bitcoin, gaining over 300% price increase from 2020.

Starting earlier on the month of February 2021, Nigerian banks and other financial institutions were authorized by CBN to cease crypto transactions or face a penalty.

Away from the financial powerhouses, experts have analyzed how bitcoin ban in Nigeria would impact local traders.

The Nigerian cryptocurrency market

Looking back at statistics, Quartz Nigeria placed Nigeria as the second-largest bitcoin market in the world after the United States. Stears Business reported in February 2021 that over $200 million worth of crypto is traded from Nigeria monthly. That’s a huge market to consider!

The bitcoin ban in Nigeria simply means that it would be difficult to directly convert the Naira to bitcoin, or trade bitcoin for items.

However, it does not stop at that.

The CBN regulation immediately affected many fintech establishments in Nigeria dealing with virtual accounts. Providus bank took a special hit, having to halt all virtual accounts following the order. VTpass had to temporarily deactivate all virtual accounts and recently reactivated all accounts with new virtual account numbers.

Conversations following the ban continue to float all over the internet. But what is the solution? What is the way forward for Nigerians looking to continue crypto trading amidst the ban?

Here’s our researched take:

  1. Consider Peer-to-Peer Trading: Pending when the ban would be lifted, the most viable solution to buy crypto at the moment would be P2P trading. This is buying privately from a trusted source (a friend, a local agency, etc.) as trading involving bank transfers would be impossible.
  2. Create a Domiciliary account: Well, since there are no restrictions on domiciliary accounts, you can open one, convert Naira and Dollars, and trade cryptos through that account.

Cryptocurrencies trading may have been banned in Nigeria, that doesn’t mean the digital currencies are done for. The future of cryptos for the African market remains bright against all odds.

WAEC 2020 Result Now Out! How to check WAEC Result Online

If you participated in the 2020 West African Examination (WAEC) or know someone who did, it’s time to rub your hands and see the scores.

As announced by the WAEC Head of National Office, Patrick Areghan; the 2020 result for over 94% of students who sat for the exams is out and others are still been processed.

This is to inform all the candidates that participated in the 2020 West African Examinations Council (WAEC) May/June West African Senior School Certificate Examination (WASSCE) that they can now check their results online.

How to Check your WAEC Result online

You would need a WAEC Result Checker PIN to be able to check WAEC result online. Simply visit vtpass.com/waec-result to buy your Scratch card PIN at N1,800 only.

You get your PIN immediately after payment, displayed on VTpass website or app, and sent to you via email and SMS. Here is how to check your result online;

  • Buy a WAEC Result checker PIN at vtpass.com/waec-result
  • Go to WAEC 2020 result checking portal at https://www.waecdirect.org.
  • Enter your WAEC Examination Number in the required column.
  • Select your Examination Year i.e. 2020.
  • Select your Examination Type i.e. SCHOOL CANDIDATE RESULT.
  • Enter the Card Serial Number.
  • Enter the result checker PIN
  • Finally, click the “Submit” button to get your 2020 WAEC Result.
how to check waec result

Statistics dished out by WAEC show that over 65% of candidates who sat for the exam obtained a minimum of credits in five (5) subjects and above, including English Language and Mathematics.

That is some good news! Get your result checker PIN at vtpass.com/waec-result and log on to https://www.waecdirect.org. to check your result now.

Why the trend changed from #EndSARS to #EndSWAT

#EndSWAT

The #EndSARS campaign which surged from the beginning of October was a call for police brutality and alleged criminal offenses of the Special Anti-Robbery Squad within the country to end.

While speculators wondered if the campaign would come to an end, following the Inspector General of police’s disbandment of SARS on Sunday, 11th, 2020; many protesters changed course, calling for the IG’s proposition of forming a new anti-robbery unit to be put to the sword.

To go by the name Special Weapon and Tactics (SWAT) team, the new anti-robbery police unit is meant to replace the now-defunct SARS. They would be tasked with carrying out the duties previously assigned to SARS.

The IG of police in a statement chipped in that members of SWAT would undergo a psychological and medical examination before admission into the force. He stressed that the unit would be held accountable for abuse of authority or violation of human rights. According to him, the unit would begin training from Monday, 19th October 2020.

#EndSWAT

But Nigerians took to Twitter just hours after the announcement, calling for the disbandment of SWAT, with the hashtag #EndSWAT trending immediately. According to them, SWAT is just a rebrand of SARS and is not the police reform they request for from the government.

Some of the reasons put forward by protesters for the #EndSWAT campaign include;

  • The use of ex-SARS operative in forming SWAT
  • Admission of ex-convicts into the force, and
  • Lack of disciplinary action drafted for operatives who abuse human rights.

In answer to that, the police have listed the following criteria as the qualification for admitting members into the SWAT team:

  • No former SARS operative would be a member of the SWAT team.
  • Only young, smart, and vibrant officers must be selected for training.
  • Officers must have over seven years of experience and a clean record – he/she must have no pending disciplinary issue, a record of violation of human rights, or a record of misuse of firearms.
  • Officers must be strong enough to withstand the rigors of SWAT training and operations.
  • Selected officers must undergo physical fitness tests, medical and toxicology screening, etc and unqualified candidates shall be discharged.
#EndSWAT

Talks are still been held as to the promised police reforms while protesters continue to make their voices heard.

Stay up to date with happenings and news around you. Top-up airtime or data and subscribe your GOtv, DStv, or Startimes on VTpass. Download the mobile app here.

Diving into the #EndSARS Campaign

The latest hashtag trending all over Nigerian social media is the #EndSARS hashtag which has geared over 3 million tweets, excluding related hashtags such as #EnsSARS #SARSMUSTEND, and #SarsMustGo.

Aside from social media, #EndSARS has been physically protested – most notably, in Lagos and Abuja. People stormed the streets since Tuesday, 6th November 2020, protesting and calling for the disbandment of the Special Anti-Robbery Squad (SARS).

Nigerians overseas, especially those in Europe and North America, equally joined the campaign. While certain Nigerian celebrities voiced their opinions through videos and social media live transmits, non-Nigerian celebrities such as Trey Song, Cardi B, and Big Sean gave online activists a boost by their reactions to the campaign. Most notably, the British High Commissioner to Nigeria, Catriona Laing made a tweet on October 11th, 2020, supporting the Nigerian Police decision to ban SARS.

#EndSARS
Protesters on the streets of London, United Kingdom

So why all the noise? You may ask. What is #EndSARS all about and why is the movement making headlines in Nigeria?

How it Started

#EndSARS first began as a social media wake-up call started by Segun Awosanya in 2017 against the alleged brutality of the police unit. The campaign died down in the middle of 2018 as not a lot of people paid attention to activists call for the scrapping of the force.

On Saturday 3 October 2020, a video trended on social media showing a SARS police officer shoot a young Nigerian in front of Wetland Hotel, Delta State. The video prompted a public outcry on social media against the brutality.

Subsequent video and pictures containing alleged actions of SARS officers flooded social media. The campaign resurged with the hashtag #ENDSARS, culminating into advocacies, online activism, and protests.

#EndSARS
Protesters with Nigerian Police Force in Lagos

Nationwide protests started on October 8th; a face-off of peaceful protesters and the Nigerian Police who tried to disperse the crowd through the use of teargas and water sprays. Concurrently, protests broke out in London, Canada, and the United States, calling for the Nigerian government to put an end to the police unit.

Accusations Made Against SARS

The Special Anti-Robbery Squad officers have been accused of illegally arresting Nigerians, especially youths, and extorting money or other valuables from them. SARS has equally been accused of mounting illegal roadblocks, searching without a warrant, rape, treating suspects brutally, and killing innocent Nigerians

In 2016, an Amnesty International report surfaced, accusing SARS of human abuse, cruelty, torture, and degrading treatment of detainees – such as severe beating, hanging, and shooting detainees in the leg.

Inspector-General of the Nigerian Police Force: Mohammmed Adamu

Response from Nigerian Authorities

Given the uproar, the Deputy Governor of Lagos, Femi Hamzat, addressed protesters on October 9, 2020, stressing that the police have no right to arrest or extort citizens of their personal effects without proper investigations and reason. He however alluded protesters to remain peaceful in their protest.

That same day, Lagos State House of Assembly held an emergency meeting to address the petition signed and submitted to the National Assembly by 10, 195 protesters. Some of the issues discussed by the House was the necessity to dissolve the Special Anti-Robbery Squad and set up a new unit in it’s place with a clear code of conduct and sanctions for illegalities.

Yesterday, been Sunday, 11th of October, 2020, the Inspector-General of Police, Mohammed Adamu, announced the dissolution of SARS. While some Nigerians took the announcement as a victory, many others called for the permanent elimination of the unit from existence, stressing that the government has banned SARS three times before now without substance.

#EndSARS

Where does VTpass stand?

It’s a sad moment for everyone witnessing these events happening around the country. On the other hand, however, the people’s voice ought to be heard as it is constitutionally structured to be.

As a brand, it is our responsibility to look beyond business when supporting matters that most concern our customers. On that note, VTpass stands with Nigerians in the fight for justice against illegal police oppression, the abuse of power, and disregard of human rights. #ENDSARS.

E-payments in Nigeria Post-COVID

E-payments in Nigeria saw a total transformation during the lockdown. Yes, the pains of COVID-19 were felt but perhaps it left us with a few lessons too. We witnessed the difficulties associated with economic stagnation and knew the importance of business activities in any economy.

From the angle of finance, the pandemic gave insights into the future of payments in Nigeria. A study by Accenture revealed the limitation of cash and the increase of digital payment during the lockdown periods worldwide. For Nigeria, this is especially true.

e-payments COVID Nigeria

Even though people withdrew more cash than ever from ATMs around the country, less than 60% of that cash was actually spent. This was due to cash hoardings by people amidst not knowing when the lockdown would be eased.

Lack of physical cash gave boosts to online payments. Cashless and contactless payments became the norm so as to reduce the risk of contracting the virus.

The long queues at ATMs were yet another factor. It was far easier to make payments digitally than paying in cash. Many individuals and businesses that could operate during the lockdown switched to electronic payment. All of these exploded e-payments around the country.

Just how much explosion? you might ask. In May 2020, e-payments in Nigeria jumped by 82% to ₦11.676 trillion from ₦6.421 trillion in April 2020. An all-time high!

Online retailers and payment platforms saw increases in patronage too, even as other consumer spendings decreased. This was evidenced by the increase in the number of online stores and internet marketers during the lockdown.

Now, as the country kick-starts full operations of economic activities, the question remains; would the rate of e-payments in Nigeria reduce, or would it increase in the coming months?

e-payments COVID Nigeria

Why e-Payment would increase

Electronic bill payments for goods and services around the country are only bound to increase. Here are two major post-COVID reasons why this would happen:

  • Personal Precautions:

The crisis may be relaxed but the ‘panic’ still exists for many. Millions of people would still prefer to take the safer route when making bills payments – that is to pay online.

Many health experts have warned about the risk of contacting COVID-19 from unaware, new carriers not detected during the quarantine. As such, the need to protect personal self from contacting the virus through cash handling or contact payment would keep a lot of people on the online payment track for a very long time.

  • Convenience:

For many, the quarantine was their chance to experience online payment for the first time. Convinence has been the major driver of e-payments since inception; it’s no wonder why a large percentage of new users would want to stick with the system.

World Bank already predicted that 25% of all money transfers would be done electronically by 2025; a chunk of that increase coming from new e-payment users in Africa. Convinence and speed of payment are major drivers that would prompt these new users to switch paymently to e-transactions.

new vtpass website

VTpass, driving e-payments in Nigeria.

Online bills payments are not reducing anytime soon. Instead, a lot more bill payers would make the switch from cash transactions in the future. You too can transit to paying bills online today.

Start by logging on to vtpass.com to pay bills in minutes. VTpass is Nigeria’s leading online payment platform that allows you to pay for the daily services you enjoy. You can top-up airtime or data, subscribe your GOtv, DStv, or Startimes, pay electricity bills, buy insurance, and do more.

Payments on VTpass are fast and easy and you get value for your money within minutes of transfers. Visit vtpass.com to get started or simply download the VTpass mobile app.

Evicted! Keeping Up with BBNaija Eviction Night (1)

The on-going Big Brother Naija (Lockdown) Season 5 has been everything but boring. From housemates‘ romance to in-house fights and interesting games and tasks. But no-one is watching the show for fights and romance alone, who does that? Housemates’ eviction is part of BBNaija sauce and as expected, hot sauce has been served.

This year, Biggie seems to be interested in serving it two-by-two. First, we had two ladies evicted from the house two weeks ago, then two guys followed suit last Sunday.

Here are the stories behind the evictions and who the ex-housemates are:

Ka3na

The single mom and dreamer of a fashion empire was the first to get Big Brother’s spoon. After falling behind other housemates in terms of getting only 1.28% of the viewer’s vote, she was evicted from the house.

Bad rumors have it that she had something with fellow housemate, Praise, before her eviction. Well, rumor it is, rumor it shall be.

bbnaija eviction

Lilo

Beautiful 23-years old dietician got served the sauce along with Ka3na in the first eviction night. With only 1.52% of votes from viewers, she got evicted from the house.

A week before that; she had a conversation with Big Brother in the Diary Room about her romantic relationship with fellow housemate, Eric. Save to say, that wasn’t enough to save her from the BBNaija eviction.

Eric

Coming third just behind his trending in-house girlfriend is Eric. The fitness instructor was nominated for eviction with only 1.37% votes. However, he was the most talked-about housemate on Twitter right after eviction with over 18,000 mentions.

Eric really made waves when he was caught on camera enjoying noddles the very night his bestie, Lilo got evicted. No joy, no joy.

bbnaija eviction

Tochi

Okay, this one came as a freaking surprise to many. The 28 years old rapper from Imo state followed Eric out of the house on Sunday night after Biggie served his sauce.

While Tochi was known for his calmness and long stories, viewers claimed he didn’t have enough content to pull the votes. I’m going to especially miss him, but, well; the show must go on!

Show goes on!

Next eviction night holds suspense for all of us. Who shall be next? No one knows but Biggie and we can’t afford to miss it! That is why you must subscribe your DStv or GOtv to watch the drama live. A lot is going on in the house but there is only so much we can blog about.

Don’t miss our next Eviction Follow-up. VTpass got you covered.

Champions League Resumes 7th August, Finally

When major football leagues (EPL, La Liga, Seria A, and Bundesliga) resumed; fans got their tint of hope of possible Champions league resumption. Although the date of resumption was announced by UEFA 3 months ago, the feeling of ‘it’s finally here!’ can’t be really shaken off.

After a five-months hiatus due to the global pandemic, the UEFA Champions League and Europa League resume August 7th, 2020 in order to play out the pending matches of this troubled season. 

champions league

Subscribe your GOtv, DStv or Startimes now

However, things would take a different shape. UEFA set out two mini competitions to solved the puzzle of travelling amidst the pandemic. Uncompleted round of 16 matches would be played out in host stadiums on 7th and 8th of August. Then from 12th August, all roads lead to Lisbon, Portugal where quarter-final matches would be played in knockout form. Oops, no home and away.

Here’s a timeline of UEFA Champions League activities:

  • 7-8 August: Round of 16-second legs (host home stadiums)
  • 12-15 August: Quarter-finals (Lisbon)
  • 18-19 August: Semi-finals (Lisbon)
  • 23 August: Final (Estádio do Sport Lisboa e Benfica, Lisbon)

So put on your soccer shoes, yank out the popcorn and enjoy. Major round of 16 ties includes:

  • Barcelona vs Napoli: It was honors when this two first met in a 1-1 draw at Naples. The Spanish giants would be at home advantage when they host Napoli at the Camp Nau
  • Manchester City vs Real Madrid: Current Spanish champions fell at home to City in the firs encounter. They face an uphill task coming back against Gurdiola’s men at the Etihad.
  • Juventus vs Lyon: Lyon leads 1-0 in this encounter. The men from Turin would be better prepared to host their opponent who play away this time around.
  • Bayern vs Chelsea: This is perhaps the center of attention. With Chelsea trailing 3-0 from the first leg; it’s looking bleak for the Blues when they finally face Bayern in Germany.

It’s really juicy as it sounds, we can’t wait! You can latch unto the action by subscribing your GOtv, DStv, or Startimes now. Don’t be told of what’s going down. And when you’re not watching football, relax into the drama of the on-going Big Brother Naija Season 5!

VTpass always got you covered.

Have You Tried The New VTpass Website?

Innovation never stops at VTpass, neither does growth. That said, we are launching a new website in the coming weeks and want you to be a part of it!

Why asking for your recommendation? You might ask. Very simple! At VTpass, inputs of our customers are valuable to us at launches like this. We exist to serve and satisfy your demands, so why leave you out of the picture when redesigning your reliable platform?

See a short video of our website!

So take this as an invitation to take a look at the new VTpass website. Let us know your thoughts, recommendations, or suggestions via comments on our social media handles and this blog post. Be rest assured that your opinion really counts!

Here’s a look at how we’ve upgraded the website:

Outstanding User Experience

The new website is designed for better user experience. We included modern UX trends as well as internal innovation pent up from years of studying how visitors relate to our website. Compare with the old VTpass website, the difference is clear.

Upgraded Mobile Version

Awesome web experience, more awesome mobile version.

new vtpass website

Twice as easy to navigate

Our developers took pain to ensure that the website feels like silk. We simplified all navigation technicalities; ironed out every grey area; broke content into the simplest forms to make navigation really easy. We dare say, even a kid can find his way around it! Haha!

More ways to resolve issues

That’s right. With our new Self-Resolution tool, you now have 4 ways to reach support and get help (Call, Live-chat, support email, and Self-Resolution). Don’t forget you can equally reach VTpass support via our social media handles (Facebook, Twitter, or Instagram) as well as here on our blog.

Seamless transactions as before

Seamless transactions are our promise to you and seamless transactions you would get! Enjoy a faster payment process, prompt service delivery, and zero glitches. Convenience has never been easier.

So go ahead, log on to vtpass.com to check out our new website. You can equally carry out transactions successfully or perform any other actions.

Thank you for partaking in our journey; we are launching soon. Enjoy!

Changes in StarTimes Bouquets Prices From August 1st

StarTimes announced weeks ago of bouquets’ price changes. Subscription prices of four (4) bouquets would change starting from August 1st, 2020.

According to Viki Liu, StarTimes brand and marketing manager; this measure was taken as a result of the effect of naira depreciation affecting all businesses in the country. Below are the affected bouquets and their new prices;

Bouquet

Current Price

New Price on August 1

 

 

Daily

Weekly

Monthly

Daily

Weekly

Monthly

DTT-BASIC

120

450

1300

160

600

1700

DTT-CLASSIC

240

900

1900

320

1200

2500

DTH-SMART

180

600

1900

200

700

2200

DTH-SUPER

360

1300

3800

400

1500

4200

Channels available on stated bouquets have equally been updated for your enjoyment. Close to 80 channels now available on StarTimes Basic and close to 100 available on Classic bouquet.

startimes price changes

To this effect, VTpass would be equally be implementing these StarTimes price changes on our platform from August 1st, 2020. Prices for Basic, Super, Smart, and Classic would reflect new amounts. However, subscription prices of other packages would remain the same.

Thank you for choosing VTpass.

Good to know: Change in Dstv and GOtv packages.