Bankers’ committee embarks on cyber security, fraud awareness initiative

• Launches Moni Sense Campaign

To combat fraud, the Central Bank of Nigeria (CBN) and the Bankers’ Committee of Nigeria, has launched its cybersecurity and fraud awareness campaign, tagged ‘Moni Sense’, to educate Nigerians on how to protect themselves against cyber fraud and scams.

Speaking on the initiative, Chairman, Financial Literacy and Public Enlightenment Sub-Committee (FLPE), Mr. Emeka Emuwa said: “Fraudsters and scammers continually devise new ways to deceive the unsuspecting public, usually with the aim of luring them to disclose confidential bank information.

“We encourage Nigerians to always be cautious and ignore any text message, phone call, or email asking to update your bank information, provide sensitive bank details, disclose online banking details, debit card numbers, or PIN to anyone.”

Financial literacy and public enlightenment are a critical pillar of the Bankers’ Committee mandate, making initiatives like this critical to the goal of increasing the number of financially included citizens in the country.

According to him, with this initiative, the Central Bank of Nigeria (CBN) and the Bankers’ Committee of Nigeria aims to ensure Nigerians are empowered with critical information and knowledge necessary to make important financial decisions, enhance economic prosperity and continue to drive poverty reduction across the country.

The Bankers’ Committee is an exclusive forum for the chief executives of Nigerian banks and the directors of the different departments of the CBN, with the CBN governor as chairman.

In March, as the economic effects of the COVID-19 pandemic started to take its toll, the Central Bank of Nigeria and the Bankers’ Committee agreed to an N3.5 trillion stimulus package for the Nigerian economy, with N100 billion going to support the health sector in equipping laboratories and enhancing research to produce vaccines and test kits in Nigeria.

They also unveiled guidelines for the implementation of an N100 billion Targeted Credit Facility (TCF) to support households and micro, small and medium enterprises affected by the COVID-19 pandemic.