NIGERIA: ICPC Writes Banks On Mobile Money Transfers

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has written banks in Nigeria to introduce security measures to prevent fraud committed through cash transfers via mobile banking applications.

This was disclosed by the ICPC chairman, Barr. Ekpo Nta, when he received the executive vice chairman of the Nigerian Communications Commission (NCC), Prof. Umar Danbatta, who led top management staff of the commission, paid him a courtesy visit at the commission’s headquarters, yesterday.

The ICPC boss said they have directed banks to introduce safety measures to protect customers who make cash transactions with their mobile devices.

Barr Nta said: “Now you can do some movements in your accounts by entering a code linked to your bank and money is disbursed. I have used it myself and have also realized that some of these applications do not require a secret pin number as soon as you type the code and the person’s accounts details it pops up, and you say send it tells you enter the last 4 digit of your ATM card the money is sent and nobody is asking of a pin known to you.

“Anybody that has access to your card can easily provide the last digits on your ATM card. So we are issuing a circular to the banks that we have found to have happen and I would like to inform NCC to also use the system that will help us in matters like this.”

Earlier in his remarks, Prof. Danbatta solicited for the cooperation of the commission in the full implementation of the Cybercrime Bill which was signed into law in 2015, saying by so doing, the commission will have a better understanding of the real situation especially at this time that the social media practice and cybercrime are on the upsurge.

According to him, “Social media gives practitioners unfettered access to information dissemination but they must do this with responsibility failing which the ICPC could come in to checkmate cases of abuse as this is a part of the process of fighting corruption.

“So, in this regard, we are enlisting the services of the ICPC chairman and his team for a vigorous campaign against these criminals so that the cyberspace can be secured and Nigeria can become a better place for all.”