Wema Bank Suspends Social Media Account Over Impersonation
- Wema Bank suspends Telegram presence amid rising impersonation fraud targeting customers
- Bank warns customers of fake accounts claiming to represent Wema Bank on Telegram
- Cybersecurity efforts strengthen as Nigeria's banks face increased digital fraud challenges
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Wema Bank Plc has suspended its presence on Telegram after uncovering a growing number of fraudulent accounts impersonating the bank and targeting unsuspecting customers.
The lender announced the move in a notice sent to customers on Monday, June 29, 2026, warning them not to interact with any Telegram account claiming to represent either Wema Bank or its digital banking platform, ALAT.
Source: UGC
The decision forms part of the bank's broader efforts to curb online fraud and protect customers from increasingly sophisticated cybercriminals exploiting social media platforms.
Bank issues strong warning to customers
According to Wema Bank, recent security checks and routine monitoring revealed a sharp increase in fake Telegram accounts posing as the bank to deceive customers into revealing sensitive information or making fraudulent transactions.
To reduce the risk of customers falling victim to these scams, the bank stressed that neither Wema Bank nor ALAT operates an official Telegram account.
"Our routine checks and security sweeps have shown a spike in the rate of customers falling victim to scam accounts and fraudsters using fake Telegram accounts," the bank said.
"As part of our ongoing efforts to proactively protect your interests, we want to remind you that Wema Bank and ALAT are not on Telegram."
The bank urged customers to immediately disregard any Telegram account purporting to represent the institution and to avoid initiating contact via the messaging platform.
Latest move in crackdown on online fraud
The Telegram suspension follows a similar action taken by Wema Bank earlier this month, when it temporarily halted communication through its X (formerly Twitter) accounts due to rising cases of impersonation and fraud.
At the time, customers were advised to refrain from interacting with the bank's "Wema" and "ALAT" accounts on the platform until further notice as security measures were strengthened.
The repeated actions highlight the growing challenge financial institutions face in combating digital fraud across social media platforms.
Cybersecurity concerns grow across banking sector
Wema Bank's warning comes amid heightened regulatory attention to cybersecurity in Nigeria's financial sector.
In March, the Central Bank of Nigeria (CBN) directed banks to complete a mandatory cybersecurity self-assessment within three weeks as part of efforts to strengthen the resilience of the country's financial system.
The initiative is aimed at improving risk-based supervision and enhancing oversight of cybersecurity risks across the banking ecosystem.
Source: Getty Images
Wema Bank advised customers to communicate with the bank only through its verified Instagram page, official email address, customer service phone lines and other verified channels, reiterating that it has no presence on Telegram, according to a report by Premium Times.
Customers were also urged to remain vigilant and report suspicious accounts or messages to prevent falling victim to online fraud.
List of customer care lines of Nigerian banks
We also highlighted facts about the official customer care lines for Nigerian banks and fintechs, aiming to steer Nigerians away from scams and protect their financial information.
In a landscape where cybercrime is increasingly sophisticated, knowing the right channels to reach out for support can be the difference between safeguarding your finances and falling victim to fraud.
Source: Legit.ng
