CBN averts suspected in-house fraud

By Blaise Udunze

The Central Bank of Nigeria (CBN) said it uncovered and averted a highly planned fraud against the bank by those it described as "criminally minded elements" in one of its units that was not mentioned.
A source who pleaded anonymity confirmed to Daily Sun last night that the fraud is huge and although such attempts can be made from external sources, it would not be entirely unconnected with an insider.
In a statement signed by the Acting Director of Corporate Communications Department, CBN, Isaac Okorafor, the apex bank noted that although preliminary investigations have not indicted any insider yet, it has already placed on suspension key personnel involved in the transactions.
Okorafor noted that the decision to suspend the key personnels was to ensure unfettered inquest, even as relevant authorities have not only been notified, but have swung into action.
The bank therefore, assures the general public that the security of CBN remains intact.
Meanwhile, CBN and Deposit Money Banks have said effective prosecution of fraudsters will be their focus this year.
Speaking under the aegis of the Nigerian Electronic Fraud Forum, they also promised to continue to secure electronic payment platforms and protect customer information.
The Director, Banking and Payment Systems, CBN, Mr. Dipo Fatokun, who is also the Chairman of the NeFF, stated this in Lagos during the maiden general meeting of the forum.
He said, “Top on the list of the agenda is the setting up of a dedicated e-payment and card crimes unit in the Nigeria Police Force. We also have other things we want to do such as collaboration with the Economic and Financial Crimes Commission on the use of Nigerian cards abroad.