Fraud Awareness Week: Nigerian Banks Send Messages to Customers
- Nigerian banks have sent messages to customers, warning them about steps to take to avoid falling victim to fraud
- This is part of activities marking the International Fraud Awareness Week, celebrated from 17–23 November 2025f
- Scammers recently hit a Nigerian bank and stole about N10 billion from customers’ accounts
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigerian banks have launched a coordinated customer alert campaign as International Fraud Awareness Week 2025 begins, warning account holders to stay vigilant as digital scams grow more sophisticated.
Source: Getty Images
In the past few days, commercial banks including United Bank for Africa (UBA), Union Bank, Access Bank, Wema Bank and fintech firm PalmPay have sent out emails, SMS messages and social media posts advising Nigerians to guard sensitive banking information such as PINs, OTPs and passwords.
Banks issue similar warnings
UBA urged customers to “Stop. Check. Protect,” noting that safeguarding financial information begins with increased awareness. The bank warned customers never to share their OTPs, delete suspicious messages, and verify emails or calls before responding.
Union Bank also cautioned customers about fake websites impersonating the bank, advising anyone who may have entered personal details on fraudulent sites to contact the bank immediately via official channels.
The banks said:
"If you have entered your details on a fraudulent website, received a suspicious call, or noticed unauthorised activity on your account, contact us immediately via our official channels."
PalmPay told users not to “let scammers catch you off guard,” urging the public to double-check the authenticity of pages and report suspicious activity instantly.
The bank noted:
"Don’t let scammers catch you off guard. Swipe through to learn the common lines they use and how to stay protected. This International Fraud Awareness Week, stay smart and stay secure with PalmPay."
Wema Bank reminded customers that fraudsters often send fake SMS and emails pretending to be real financial institutions.
The bank advised customers to always verify the sender and contact their account officers if unsure.
The message reads:
"Outdated devices are more vulnerable to hacking, so it is important to keep your phone and computer updated. Avoid using public Wi‑Fi for online banking, as it can expose your passwords; use mobile data instead.
"Open or free Wi‑Fi networks can be hacked easily or set up by scammers, so always verify their legitimacy and stick to your private network whenever possible to keep your data secure."
Source: UGC
Access Bank echoed the message, stating that although fraud tactics are becoming more advanced, staying informed remains the most effective protection.
Customers were advised to report unusual activity immediately.
Scammers hack Nigerian bank, steal N10 billion
Fraud continues to pose a huge challenge in Nigeria’s banking sector.
Recently, the Federal High Court in Abuja ordered a 30-day extension to freeze 818 bank accounts suspected of being linked to the alleged proceeds of a N10 billion cyberattack on Hope Payment Service Bank.
The affidavit revealed that preliminary police investigations confirmed that the bank suffered losses amounting to N10 billion as a result of the cyberattack.
CBN wants banks to invest heavily on cybersecurity
Earlier, Legit.ng reported that the Central Bank of Nigeria (CBN) is calling on banks to increase their investments in cybersecurity.
CBN Governor Olayemi Cardoso made the appeal during a panel discussion at the Nigeria Economic Summit (NES) in Abuja, themed “Fiscal and Monetary Policy Reforms: Removing Barriers to Private Sector Investment.”
The governor’s comments come in the wake of recent service disruptions and system updates across Nigerian banks, highlighting the need for stronger digital security measures.
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Source: Legit.ng
