CBN, Bankers Committee Move to Tackle Cyber Security With Moni Sense

The Bankers’ Committee of Nigeria in partnership with the Central Bank of Nigeria, has unveiled its cybersecurity & fraud awareness campaign, known as ‘Moni Sense’.

Moni Sense, is specifically designed to educate the general public on protecting themselves against cyber fraud and scams.

The partnership is seeking to comprehensively address fraud and cybersecurity issues by creating such awareness.

Speaking on the initiative, Mr. Emeka Emuwa, Chairman, Financial Literacy and Public Enlightenment Sub-Committee (FLPE), said;

“Fraudsters and scammers continually devise new ways to deceive the unsuspecting public; usually to lure them to inadvertently disclose confidential bank information. We encourage Nigerians to always be cautious; and also ignore any text message; as well as phone call; or email asking to update your bank information; provide sensitive bank details; disclose online banking details; debit card numbers; bank verification number (BVN) or PIN to anyone.”

Financial literacy and public enlightenment are a critical pillar of the Bankers’ Committee mandate; making initiatives like this critical to the goal of increasing the number of financially included citizens in the country.

With this initiative, the Central Bank of Nigeria (CBN) and the Bankers’ Committee of Nigeria aims to ensure Nigerians are empowered; with critical information and knowledge necessary to make important financial decisions; as well as enhance economic prosperity; also stay fraud aware and cyber safe; and likewise drive poverty reduction across the country.

In March 2020, the Central Bank of Nigeria (CBN) as well as the Bankers’ Committee introduced credit support schemes for households; MSMEs and also businesses across several sectors including Healthcare, Manufacturing, Agriculture, Trading, and Aviation.

The Bank unveiled a succession of targeted facilities starting with a N50 billion credit facility to support households, and also micro, small and medium enterprises (MSMEs); followed by another N100 billion credit support intervention for the health sector as part of efforts to combat the negative impact of coronavirus (COVID 19) on the Nigerian economy.