CBN Urges Nigerians to Beware of Scammers
The Central Bank of Nigeria (CBN) has issued a fresh alert over the growing threat of cyber fraud, warning Nigerians to be on guard against fake emails, text messages and online communications designed to steal sensitive personal and financial information.
In a statement released by the Bank’s Acting Director of Corporate Communications, Hakama Sidi-Ali, the apex bank disclosed that fraudsters are increasingly posing as CBN officials, using deceptive messages and fake announcements about the Bank’s leadership, licensing activities and monetary policies to trick unsuspecting members of the public.
According to the CBN, the fraudulent messages often contain malicious links or requests for confidential information, intending to compromise victims’ bank accounts or spread false information. The Bank stressed that all official updates and policy announcements should only be verified through its recognised communication channels and official website.
The regulator urged Nigerians to exercise caution when receiving unsolicited emails, text messages or phone calls, warning against clicking suspicious links or sharing personal details such as bank account numbers, passwords, PINs or One-Time Passwords (OTPs) with unknown individuals.
The CBN also cautioned the public against phishing attacks, fake investment schemes, online shopping scams and identity theft, noting that cybercriminals frequently exploit urgency, fear and promises of financial rewards to manipulate their targets.
To reduce the risk of falling victim, the Bank advised customers to adopt stronger cybersecurity habits, including creating unique passwords, enabling two-factor authentication, regularly reviewing account activity and immediately reporting any suspicious transactions to their financial institutions.
For individuals who believe they have been targeted or defrauded, the CBN recommended promptly notifying their bank, updating compromised login credentials and reporting the incident to relevant security agencies, including the Economic and Financial Crimes Commission (EFCC), the Nigeria Police Force, and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
Reaffirming its commitment to protecting Nigeria’s financial system, the apex bank said it is strengthening its cybersecurity measures and collaborating with financial institutions and law enforcement agencies to curb online fraud as digital banking and electronic transactions continue to expand across the country.
