- The sending of vital bank details via SMS might soon become a thing of the past in Nigeria
- According to the Nigerian Communications Commission (NCC), using such means is quite risky
- The NCC also said they were already engaging with the Central Bank of Nigeria to find better ways
The practice of sending vital information through customers' mobile phones by commercial banks might soon be abolished by the Nigerian Communications Commission (NCC).
This is because it may expose customers’ accounts’ details to fraudsters.
Executive vice chairman, Prof. Umar Garba Danbatta, of the NCC made this known at the consumer conversation held in Minna, Niger state.
He said the commission was already engaging with the Central Bank of Nigeria (CBN) to find ways to ensure that mobile phone users’ vital information relating to their bank accounts and financial transactions were not jeopardised should their phones get lost or stolen.
Helen Obi, a director and the head of zonal operations department, who represented Prof Danbatta said NCC would shield phone users in the country against any harm that could get to them or to their property through the use of telecom services.
However, he advised phone users to adequately protect their pins and not carelessly save them in their phones.
Also the NCC told all telecom operators in the country to give a 14-day grace for subscribers to exhaust their remaining data after the 30 days expiration period before they are cut off.
Meanwhile, CBN has denied that one of its directors had been arrested by the Economic and Financial Crimes Commission (EFCC).
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Isaac Okorafor, CBN’s acting director of corporate communications, on Wednesday, October 4, in Abuja said that the report had no merit.
What would you do if you mistakenly got a N100m alert? - on NAIJ.com TV.