The Managing Director of the Nigerian Deposit Insurance Corporation (NDIC), Mr. Hassan Bello, has restated the corporation’s management commitment to continue to adopt proactive measures aimed at protecting bank customers for the menace of fraudsters and criminals desirous of perpetrating havoc in the banking sector.
Bello, who gave this assurance in his address delivered during the Special Day of the Nigeria Deposit Insurance Corporation (NDIC) at the on-going 34th Enugu International Trade Fair, 2023, noted that cybercriminals and hackers were increasing their prowl globally and called on the public, especially bank customers in the country, to be more alert to their antics in order to protect their deposits.
The NDIC boss urged bank customers nationwide, particularly the teaming populace in the Medium, Small and Micro Enterprises (MSMEs) sub-sector, and others in the informal segment of our economy to keep their money in banks, being the safest, smartest and most prudent place to keep such due to the protection being offered by the corporation.
He explained: “Arising from the foregoing, the NDIC likes to reiterate to members of the public, particularly the teaming populace in the Medium, Small and Micro Enterprise (MSME) sector, and others in the informal segment of our economy that the safest, smartest and most prudent place to keep your money is in the formal banking system because the NDIC protects your bank deposits.
“Such deposits also enjoy the benefit of effective regulation and supervision of relevant authorities, and take people’s hard earned money beyond the ambit of illegal fund managers and loan sharks that currently awash the investment landscape and fleecing unsuspecting members of public.”
As the unscrupulous elements get more and more creative in their ignoble acts, and as the NDIC and other regulatory bodies’ device more ingenious approaches to tackling their menace, Bello said that it had become more imperative for the corporation to continue to sensitize the public on their expected roles towards protecting their bank deposits.
Bello advocated: “Depositors are to ensure their phones have strong password and do not share their bank mobile app password with third parties; ensure no one is watching when they enter their PIN to perform transactions; ensure their token is secure and other parties do not have access to it; and ensure their debit card number and CVV are not exposed to people. Equally important is the need to avoid investment offers with quick and arbitrarily high returns.
