CBN Launches Portal Solely Dedicated For Report Of E-Payment Related Frauds

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The Central Bank of Nigeria (CBN) has concluded plans to launch a portal solely dedicated for reports of frauds arising from the use of all the electronic payment channels in the country. The initiative, which was in furtherance of the apex bank’s drive to ensure safe, reliable and efficient payment system in Nigeria, was […]

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The Central Bank of Nigeria (CBN) has concluded plans to launch a portal solely dedicated for reports of frauds arising from the use of all the electronic payment channels in the country.

The initiative, which was in furtherance of the apex bank’s drive to ensure safe, reliable and efficient payment system in Nigeria, was also pioneered alongside the Nigeria Electronic Fraud Forum (NeFF) and the Nigeria Inter-Bank Settlement System (NIBSS).

However, CBN has vowed to make good its threat against those using dud cheques to truncate the cash-less project being pursued in the country, in line with the global trend.

The apex bank noted that it is collaborating with the financial institutions and law enforcement agencies, to stem the tide of dud cheques’ issuance, which if left unchecked, poses a great threat to the stability of the nation’s financial system.