Access, FCMB and 10 Other USSDs to Block Account if Phone, ATM Card Is Stolen, Misplaced
- The CBN is forging ahead with its plan to ensure that Nigeria becomes a cashless society
- This means more Nigerians will have to open a bank account and get ATM cards or use their phones for transactions
- As more Nigerians become banked, it is expected that electronic fraud will increase, Legit.ng has provided a list of USSD codes to quickly block an account
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The Central bank of Nigeria's cashless policy would see more Nigerians open a bank account.
This implies that Nigerians would have to rely heavily on electronic means for transactions.
While this will be good news, the cashless policy will further increase the number of electronic banking frauds.
In a report by Agusto&Co titled 2022 Consumer Digital Banking Satisfaction Index, it was revealed that approximately 59% of survey respondents had been fraud victims on the digital platforms of their respective banks.
Naira scarcity: Banks, PoS operators, cash out big as Nigerians transact N39.5tn electronically in one Month
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The Nigerian Communications Commission (NCC) also confirmed that the Central Bank of Nigeria (CBN) had identified e-fraud as the greatest threat to digital finance.
NCC further noted that the CBN said fraud has affected electronic payment solutions such as Automated Teller Machines (ATMs), Nigeria Inter-Bank Settlement System (NIBBS) instant payment and mobile banking.
In the words of the commission in Abuja, the director of Consumer Affairs Bureau, Efosa Idehen said:
"Attackers are now targeting telecoms networks to disrupt service delivery and infiltrate their data bank in addition to SIM swaps, Unstructured Supplementary Service Data (USSD) and e-payment fraud.”
Quick USSD codes to block bank account after losing a phone or ATM card
- Access: *901*911#
- Zenith: *966*911#
- GTB: *737*51*74#
- WEMA: *945*911#
- FirstBank: *894*911#
- Keystone: *7111*911#
- UBA: *919*911#
- FCMB: *329*911#
- Sterling Bank: *822*911#
- Stanbic bank: *909*29#
- Fidelity bank: *770*911#
- EcoBank *326*911#
This code can be used to block a bank account on another phone as a third party.
Video shows bank staff scaling fence to safety
Meanwhile, in another report, Nigerians are getting desperate for cash and making thousands of bank staff afraid for their lives.
In a recent development, a video showed the staff of a bank jumping over the back fence as customers got more frustrated.
Nigerians have reacted to the video while the CBN has continued to insist that there will no deadline extension.