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Cashless policy: Ex-ANAN president urges CBN to check banking sector fraud



Dr Samuel Nzekwe, Former President, Association of National Accountants of Nigeria (A) has advised the Central Bank of Nigeria (CBN) to intensify effort toward checking banking sector fraud.


The apex bank said the nationwide implementation of the cashless policy would take effect from March 31, 2020.

Nzekwe stated that his advice became necessary to ensure confidence building and to attract more patronage in the banking sector.

“The apex bank needs to redouble efforts in tackling frauds because many customers had lost money to fraudsters through the e-banking platforms,’’ he said.

Nzekwe noted that banking sector fraud remained a major problem capable of hindering the effective implementation of the cashless policy.

The former A president alleged that some banks’ staff divulged customers’ information to fraudsters, saying that “confidence is really necessary”.

He urged the CBN to instal state-of-the-art security gadgets to ensure effective monitoring of sharp practices within the sector.

“There is need put in place security measures that will boost confidence in the policy.

“As we can see, Nigerians are willing to embrace it,’’ Nzekwe said.

Edited by Azubuike Okeh/Adeleye Ajayi

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