Legal Nigeria

Fraudulent transactions: CIBN counsels CBN

The Chartered Institute of Bankers of Nigeria says the Central Bank of Nigeria ought to come with policies that can check fraudulent transactions within the banking industry.

Making the call was the Ogun State Chairman of CIBN, Isaac Arokun. He said this at venue of  a debate organised for higher institutions in the state at as part of activities marking the Annual Bankers’ Week.

Speaking to newsmen, he said, “The CBN can bring a lot of policies that will ensure that it does not allow frivolous transactions in the banking industry. CBN should also engage in advocacy and public enlightenment to ensure that policies that are put in place are explained to the people for them to protect their funds in the bank.

“They should also encourage banks to bring policies on cyber security so that they can protect their website and all the transactions passing through the banks should be secured to ensure that intruders are not invading personal information.”

credit: PM News