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Bankers’ committee promotes financial literacy with ‘Moni Sense’ initiative

The Central Bank of Nigeria (CBN) and the Bankers’ Committee of Nigeria, on Monday, September 7, 2020, launched its cybersecurity and fraud awareness campaign called ‘Moni Sense’; to educate the general public on protecting themselves against cyber fraud and scams.

The committee believes as the end of year business season begins, comprehensive fraud and cybersecurity awareness remains important in ensuring the general Nigerian public is informed on their role in protecting their banking information from fraudulent activities.

Emeka Emuwa, chairman, Financial Literacy and Public Enlightenment Sub-Committee (FLPE), said fraudsters and scammers continually devise new ways to deceive the unsuspecting public, usually to lure them to inadvertently disclose confidential bank information.

“We encourage Nigerians to always be cautious and ignore any text message, phone call, or email asking to update your bank information, provide sensitive bank details, disclose online banking details, debit card numbers, bank verification number (BVN) or PIN to anyone,” Emuwa said.

Elucidating the essence of the programme, he said financial literacy and public enlightenment are critical pillars of the committee’s mandate.

Emuwa said developing initiatives like this was critical to the goal of increasing the number of financially included citizens in the country.

In March 2020, the CBN and the Bankers’ Committee introduced credit support schemes for households, MSMEs, and businesses across several sectors including healthcare, manufacturing, agriculture, trading, and aviation.

The Bank further unveiled a succession of targeted facilities starting with N50 billion credit facility to support households, and micro, small and medium enterprises (MSMEs), followed by another N100 billion credit support intervention for the health sector as part of efforts to combat the negative impact of coronavirus (COVID 19) on the Nigerian economy.

With the ‘Moni Sense’ initiative, the CBN and the committee aim to ensure Nigerians are empowered with critical information and knowledge necessary to make important financial decisions, enhance economic prosperity, stay fraud aware and cyber safe.

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