NDIC Cautions Financial Services Customers On Applications Requesting Bank Account Details

Nigeria Deposit Insurance Corporation (NDIC) has advised the public not to install applications (Apps) requesting for their full details as there is higher risk of being duped by Ponzi scheme fraudsters and hackers.

The Corporation said,”When you download an app and are prompted to allow it to access your contacts, pictures and other personal details you should decline to be on the safer side and by so doing mitigate the risk and insecurity inherent in the system.
This was the submission of the Managing Director and Chief Executive of NDIC, Mohammed Bello-Hassan while addressing participants at the Finance and Business Online Publishers Association (FiBOP) 2023 Annual Conference in Lagos.
Speaking on the theme: ” Mitigating Risk And Insecurity Using Insurance and Technology in a Harsh Economy” the NDIC boss commended FiBOP for coming up with a timely topic that would help to unmasked and checkmate and reduce the risk the financial Sector.
He charged FiBOP to do more by reporting and educating the society and especially the investing public on illegal schemes and their modus operandi, adding that NDIC is battle ready to confront and conquer all forms of illegalities and ensure culprits are sanctioned.
According to him, trust is a pillar on which all forms of transactions are conducted. He recalled that with the revocation of the licenses of 149 microfinance banks by the Central Bank of Nigeria (CBN), the NDIC has been able to pay depositors who are eligible and credible.
However, the NDIC boss was represented at the event by Hawuwa Gambo, accompanied few other officials from the Corporation.
Also speaking, CRC Credit Bureau Limited in a good will message described risk as ability that something can go bad and making provisions to prevent future loss or danger. According to CRC Credit Bureau, represented at the event by Mrs.Peggy Chukwuma-Nwosu, it is vital for an organization or individual to know his credibility. It make sourcing for funds easier.
For instance, if two persons, each obtained loan from a bank, while one is paying regularly the other may not. The one who repays his loan regularly is credible and can be given another opportunity.
Another reason for accessing data is for investigation or an attempt to detect fraud amongst others. Meanwhile, CRC Credit Bureau ltd ,credit worthiness assesment and valuation is not only honoured in Nigeria but also globally. The Bureau is licensed buy by Central Bank of Nigeria (CBN).
The Securities and Exchange commission (SEC), also in a good will message commended FiBOP stressing that the exposé on the theme has equipped people to avoid risk as prevention is better than cure. The Commission,s DG.. Dr. Lamido Yuguda was represented at the event by Joy Utubor.