Banks get a “software” that identify and blacklist fraudsters

Electronic fraud in Nigeria is one of the main hurdles to advancement of ecommerce in the country.

Nigeria's Central Bank Governor, Minster of Finance and Lagos State Governor

This pronouncement was made during a press conference held at the end of the committee's meeting in Lagos, on Thursday, April 27.

This database was stated to be named ‘E-Fraud’.

The Bankers committee comprise the Central Bank of Nigeria, CBN, Nigeria Deposit Insurance Corporation, NDIC and Chief Executives/Managing Directors of banks in Nigeria.

While addressing the press on behalf of the committee, Mr. Herbert Wigwe, Managing Director/Chief Executive of Access Bank Plc, stated that: "Part of the deliberation was that there is need to create a central depositary which is a database of suspected fraud through the system."

"Once that data base is set up and there is suspected case going through the system we can have ways of ensuring there is strong deterrent for people who are known as fraudsters within the system.”

The press conference was also addressed by Managing Director/Chief Executive, Ecobank Nigeria, Mr. Charles Kie; Managing Director/Chief Executive, Rand Merchant Bank, Mr. Michael Larbie, and Director, Banking Supervision Department, CBN, Mr Ahmed Abdullahi.

On his part, Mr. Charles Kie explained some of the critical decisions and stands taken by the committee towards getting the country out the current economic downturn and recession.

"Overall, what the Bankers Committee also reemphasized was the need for all the banks to continue supporting the economy and ensure that they can effectively help the country get out the recession."

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

9-year-old allegedly identified as person who set Ebeano supermarket on fire

President Buhari jets off to London to see his doctors

Van Vicker finally graduates from university after 24 years

Lady seen setting Ebeano supermarket on fire in Abuja

BBNaija 2021: All you need to know about the 22 housemates

Nigeria’s basketball team lose their opening game at Tokyo Olympic Games

Badagry Slave Route: Slaves passed these 5 notable stops on their journey of no return

5 things you must say goodbye to after you get married

Burna Boy, Davido, Ed Sheeran, Coldplay, Doja Cat, others announced for Global Citizen Live event