The Central Bank of Nigeria (CBN) released its guidelines on Automated Teller Machine (ATM) operations with a view to creating a set of standards regarding :-

– Technology specification

– ATM operations

– ATM  security

– ATM maintenance

– Regulatory monitoring

– Dispute Resolution

What are the standards set by the guidelines on ATM technology and specifications?

The guidelines state that all ATM deployers/acquirers shall comply with payment and industry data security standards (PCI DSS). 

What are the standards set by the guidelines regarding ATM operations?

Some of the operating standards set by the guidelines are :-

1. All ATM points shall be able to dispense all denominations of Naira.

2. For deposit taking ATMs, acceptable denominations shall be displayed by the deployer.

3. All ATM terminals shall be Levels 1 & 2 EMV compliant at a minimum and shall be upgraded from time to time, to comply with the latest version, within 12 months of release of the version.

4. All ATM systems shall have audit trail & logs capabilities comprehensive enough to facilitate investigations, reconciliations & dispute resolutions.

5. Card readers shall be identified by a symbol that represents the card, identifies the direction for which the card should be inserted into the reader, and which shall accept cards horizontally with the chip upwards and to the right. 

What are the provisions of the guidelines on ATM deployment?

The guidelines state on the issue of ATM deployment that :-

1. All banks or independent ATM deployers may own ATMs, however such Institutions must enter into agreements with a card scheme or a scheme operator or their designated settlement agent for acceptance and settlement of all transactions at the ATM.

2. All ATM transactions in Nigeria shall be processed by a Nigerian company operating in Nigeria as acquirer-processor.

4. No card or payment scheme shall compel any issuer or acquirer to send any transaction outside Nigeria for the purpose of processing, authorizing or switching if the transaction is at an ATM or at any acceptance device in Nigeria and the issuer is a Nigerian bank or any other issuer licensed by the CBN.
5. Stand-alone ATMs are not allowed. 

What are the provisions of the guidelines on ATM operations?

The guidelines provide that a bank or independent organization that deploys an ATM terminal for the use of the public shall ensure that :-

1. ATM terminal declines or inoperability due to technical faults do not last more than 72 hours consecutively & where this is not practicable, customers shall be duly informed by the deployer.

2. The help desk contacts are adequately displayed at the ATM terminals.

3. All ATM charges are fully disclosed to customers.

4. Cash retraction shall be disabled on all ATMs.

5. Change of PIN services are provided to customers free of charge.

What are the provisions of the guidelines on ATM Maintenance?

The guidelines provide that regarding ATM Maintenance :-

1. Notices are to be displayed at the ATM for planned maintenance period and disruption to service.

2. An ATM maintenance register or log is kept properly.

3. All ATMs and cash in the machines are insured.

4. ATMs must be physically inspected by banks and independent organizations at least fortnightly. 

What are the provisions of the guidelines on ATM security?

The guidelines provide that regarding security :-

– Every ATM shall have cameras which shall view & record all persons using the machines as well as every activity at the ATM, including but not limited to card insertion, transaction selection, cash withdrawal, card taking, etc. 

– Where a surveillance camera is used, it should be kept secret to avoid illegal removal or damage or compromise. 

– Networks used for the transmission of ATM transactions must be demonstrated to have data confidentiality & integrity. 

– ATMs should not be placed outside buildings unless such ATM terminals are bolted to the floor and surrounded by structures to prevent removal.

What are the provisions of the guidelines on Dispute Resolution?

The guidelines provide that the reversal of failed on-us ATM transactions (when customers use their cards in their bank’s ATM) shall be instant & 24 hours maximum where instant reversal fails due to a technical or system glitch issue.

The refund timeline for failed not-on-us ATM transactions when customers use their banks on other Bank ATM terminals shall not exceed 48 hours. 

Experienced cryptocurrency investors and traders know that the true value behind cryptocurrencies can typically be seen in their early stages. As such, making an investment in a project that is undergoing its presale stage can typically be a solid option for those who want to get the most out of their investments, and Sparklo has recently gained a lot of appeal.

With the decrease in value of projects such as Arbitrum (ARB), investors have been eyeing SPRK as it has a 40x growth potential.

Arbitrum (ARB) Dips in Value by 16.3% and Leaves Investors Worried

Arbitrum (ARB) made an announcement on April 23, 2023, that they welcomed Pimlico to the overall ecosystem.

This means that Pimlico became available on Arbitrum (ARB) and launched its entire stack, including Verifying Paymaster, Sponsorship Paymaster, and Hosted Bundler.

As of April 23, 2023, the Arbitrum (ARB) cryptocurrency traded at $1.38. Here we can see that in the last 24 hours, the Arbitrum (ARB) cryptocurrency decreased in value by 6.3%.

Additionally, in the last seven days, Arbitrum (ARB) saw a decrease in its value by 16.3%, leaving investors worried.

Sparklo (SPRK)

Sparklo (SPRK) will be one of the largest platforms on top of which anyone can gain an opportunity to make investments within silver, gold, and even platinum.

Every investment can result in an entire NFT getting minted, then fractionalized. Afterward, each user can invest in it.

Users can invest within a small fraction of the NFT, or they can invest in an entire NFT and get the real-world asset delivered to them at any location. This asset can be a gold bar, silver bar, or platinum bar. As for the security of the network, InterFi Network audited it, and the liquidity will also be locked for 100 years. Additionally, the team is also processing a KYC application, whose results will be posted throughout the month.

How Sparklo (SPRK) Can Dominate

Throughout its presale period, at level one, the Sparklo cryptocurrency is offered at just 0.015. Analysts that are experienced within the Web3 space have predicted that its value can climb 40x in the upcoming months.

Due to the overall appeal surrounding investments within precious metals, many investors will find value and interest within it.

With the collapse of decentralized banks and inflation becoming high, many are seeking to diversify their holdings. By diversifying with SPRK and eventually through the precious metals that are a part of the ecosystem, investors will have exposure to a lot of different asset classes. Moreover, Sparklo will also work with jewelry stores in order to bring their products to market and will provide benefits to ecosystem participants.

Find out more about the presale:

Buy Presale: https://invest.sparklo.finance

Website: https://sparklo.finance

Twitter: https://twitter.com/sparklo_finance

Telegram: https://t.me/sparklofinance

Crypto investors and traders are consistently pushing towards ways in which they can get the most out of the Web3 space, from making investments in presale stage projects like Sparklo to finding other well-established projects that have grown throughout the test of time.

Render Token (RNDR) has been in decline, and as such, they have been eyeing the SPRK token more and more as it can grow by 40x. Today, we will go over why the token has grabbed so much attention.

Render Token (RNDR) Dips by 6.3% despite proposal movement

The team behind Render Token (RNDR) made an announcement on Twitter on April 23, 2023, where they went over how the final snapshot votes for PNP-002 and RNP-003 are still open and will close on April 25.

Despite the overall development and appeal behind the Render Token (RNDR) ecosystem, its cryptocurrency has been on a decline. On April 23, 2023, Render Token (RNDR) traded at $1.71.

In the last 24 hours, Render Token (RNDR) has been down by 6.3%. The overall decrease of Render Token (RNDR) in the last year has been 11.5%.

Sparklo (SPRK) To Enable fractionalized investments in NFTs for precious metals

Sparklo will become the investment platform on top of which investors can being their entry into the precious metals space by making fractionalized investments in silver, gold, and even platinum.

The platform will essentially mint non-fungible tokens (NFTs) that represent specific assets, including gold bars or silver and platinum. Afterward, users have the opportunity to either buy the entire NFT or buy a fraction of it.

If a person buys an entire NFT, they can get the precious metal delivered to them at any location.

Sparklo will also be working with jewelry stores to help bring their products to market and also give investors early access to these products and even discounts.

The Future of Web3 Investments

The Sparklo platform has already been audited by the InterFi network. Its team is currently processing a KYC application, where the results will get posted throughout the month. The liquidity behind the project will also be locked for 100 years.

SPRK token is offered at a value of just $0.015 at its level one presale. Analysts predict that its value can increase by 40x in the upcoming months due to the overall appeal of precious metals.

As centralized banks and overall institutions are beginning to collapse, and inflation has been higher than before in recent years, investors are looking for alternative assets to invest in. Precious metals, such as gold, for example, have historically been seen as a hedge against this inflation. Sparklo will allow anyone access to these precious metals and will break the barriers seen in the centralized, traditional ways of getting access to them.

Find out more about the presale:

Buy Presale: https://invest.sparklo.finance

Website: https://sparklo.finance

Twitter: https://twitter.com/sparklo_finance

Telegram: https://t.me/sparklofinance

After a long recess the King emerges in glory from his chamber, well braced for the evening hunt. He examines his assembly of men and discovers that the hoopoe is not present at his designated duty post. Immediately the King declares, ‘’surely, the hoopoe is the cursed one today, except he shall bring me some plausible reasons for his audacity.’’

Far into the east and sensitive to the humming of the wind, the hoopoe resolves to not retire home until he finds something worthwhile to appease the King with. So he presses further into the ether and soon discovers a mystery. He beholds a sublime kingdom ruled over by a lady.

‘’What heresy’’ the hoopoe says as he returns home to inform the King about this.
On arrival, the hoopoe prances forward radiantly to the amazement of the bystanders and the amusement of the King. Following a mild chuckle, the King beckons at his erring subject and says ‘’surely you’ve got some sweet jokes to tell me so I shall not punish your excesses.’’

‘’Your Lordship, in your name and glory, I have traversed the world and I’ve caught it in naked treachery against your Highness’’ the hoopoe says.

‘’Stop speaking in parables. I am no fan of empty wit. So come bare with your points’’ the King demands.

‘’I know of a kingdom in the farther East full of brass and gold, milk and honey and a wider army of subjects, all belonging to a lady. This I’ve seen in earnest horror my Lord. I swear by your name’’ the hoopoe assured.

Immediately, the King becomes enraged, brimming with a fiery storm, he demands in wanton possessiveness, ‘’bring me her throne. I want her begging for her dare life after such blasphemy’’ whereas it is the King who harbours wild grudges and vain cravings.

The King’s virile pronouncement comes to pass as surely the Queen’s feminine submissiveness is harsher than the venom of the mamba.
She caresses the Majesty’s fiery cravings to ashes with her airy, gentle touch.

Commentary and Lessons

The hoopoe is a species of bird found across Africa, Asia and Europe. It is known for its colourfulness, briskness and restiveness. The hoopoe also has a sonorous voice capable of causing hypnosis in those that pay attention to its chirpings. Due to its relative small size and light weight, the hoopoe hastens and tosses about with the movement of the wind and is rarely stable and reflective in the earth.

The Legend of the hoopoe is a story from the eastern social thought often told to admonish against social vices such as anger, bitterness, restiveness and immediate gratifications. The story appears in Surat Naml, chapter twenty-seven of the Quran narrating the dusk of the King Solomon’s kingdom after the King met with his would be alter ego, Queen sheba.

The moral of the story is also reflected in the classics, Sun Tzu: The Art of War. ‘’If the general is not victorious over his anger and sets them swarming like ants, one-third of the officers and soldiers are killed and the walled city not uprooted…’’

In the story, we are admonished to be wary of the hoopoes in our circle. These individuals do not have a keen sense of direction and never really enjoys minding their businesses. They always tend to mask their emptiness with their parochial prowess and their capacity to inspire superficial awareness.

When things unfold in their natural order or according to divine ordainment, the hoopoes always seek an illusory gap to connect. They are always on the lookout for crude or grapevine information to feed the ego of the significant others in their lives with. Because they are not intelligent and disciplined enough to create value, they always seek to gain attention and maintain their relevance in a social gathering by raising false alarm and spreading unverified information.

The hoopoes exaggerate reality out of proportion and creatively play their roles as catalysts of destruction. A king that wants to have control of his empire should be careful with paying attention to these individuals.
Beware of what you are fed with, especially by someone who craves a political favour.