Regulatory commission approves promos for Unity, First, GTBank, UBA, others
The National Lottery Regulatory Commission (NLRC) has cleared the promotional campaigns of banks after they complied with the guidelines for the exercise.
According to Commission's Assistant Director, Enforcement and Compliance, Mr Henry Uwadiae , the approved banks are Sterling Bank Plc, Keystone Bank Plc, First Bank of Nigeria Plc, United Bank for Africa Plc, Union Bank of Nigeria Plc, Mainstreet Bank Limited. Others are Access Bank Plc, First City Monument Bank Plc, Unity Bank Plc, Fidelity Bank Plc Guaranty Trust Bank Plc, Wema Bank Plc, Zenith Bank Plc, Skye Bank Plc and Ecobank Nigeria Plc.
The NLRC director also said the commission took time to evaluate the promotional campaigns and found that they were not fake.
He said the scrutiny followed allegations that banks are hiding under the cover of promos to deceive customers into opening accounts with them. He said investigations had shown that banks are complying with all-known regulatory requirements guiding promos.
He said: 'So far, no bank has flouted the rules of organisng lottery. We have not found any of the bank wanting. Therefore, the issue of placing embargo on the promotional campaigns of banks does not arise. The banks cannot be sanctioned because they have not committed any offence. Punishments can only be applied when an operator is deemed to have committed offence relating to the launching of a promo.'
He said the commission and the Consumer Protection Council are working together to ascertain the authenticity of the promos organised in various sectors of the economy. He said the commission liaises with the CPC to protect the interests of people, adding that the bodies are always at the venue of the promos to verify some facts.
'At the venue of the promos organised by banks or any other operators in the economy, we ensure that our staff and those of consumer protection council know the true winners. Also, we make sure that the gifts are not fake. Besides, we get in touch with the winners to know whether they received their gifts or they are lost in transit.
'Though no bank has been indicted for not complying with promotional rules, that does not mean banks cannot made mistake. If we found out that a bank contravenes the rules, we would first disclaim the bank. This implies that we cannot guarantee the sincerity of the promos that was organised. In serious cases, we seal off the premises of the bank. Based on this, the bank would not be allowed to open to customers. The aim is to instill discipline, and make offenders know that fake promos are criminal offence,' he said.
He said promos among telecom operators have been a major source of concern to the commission, adding that banks have shown that they are reliable, committed and transparent in such areas. He appealed to companies to follow due process when they are coming out with a promo, adding that that is the only way they can win the confidence of consumers. – The Nation