Would you like to receive notifications on latest updates of the following headlines?

Cbn Charges Nigerians To Protect Money From Fraudster

POSTED ON March 20, 2024 •   BUSINESS      BY Abiodun Saheed Omodara

The Central Bank of Nigeria (CBN) has advised the Nigerians to educate themselves and their children on the activities of fraudsters and scammers, as a means of protecting their money from such criminals.

The Deputy Governor in charge of Financial System Stability (FSS), Mr. Philip Ikeazor in his message deliver at the 2024 Global Money Week (GMW) celebration said that children should be educated on how criminals dupe unsuspecting members of the public of their hard-earned money and that people should take every necessary step to protect their money from fraudsters.

 “The theme for this year’s edition   ‘Protect your Money, Secure your Future’, captures the importance of learning, from an early age, to always think about your future when making financial decisions and plan accordingly.

“It emphasizes the importance of not only making money, but understanding frauds and scams, saving, and investing for your future. Equipped with such skills at this young age will enable you achieve financial independence and a financially secure future.

The Deputy Director stressed that, truth be told, having an income, and making a substantial amount of money does not guarantee financial security. What is important is your ability to develop and hone skills and attitudes to manage your financial resources to have a secure future.

“In addition to this, it is vital to know the types of frauds and scams, how to respond to scammers, and various ways to protect your money online and offline, he added.

“This also implies knowing how to report to a bank if you do have an encounter with scammers or fraudsters. In essence, the financial decisions you make today and the education you acquire today have a huge impact on your future.

“Therefore, when you learn these skills at a young age and with consistent practice, you will have a brighter future. So, be smart about your money while you are still young; save, budget and become educated.

READ ALSO
CBN Maintain Interest Rate at 27.5%
BY Abiodun Saheed Omodara July 22, 2025 0

The Central Bank of Nigeria (CBN) has decided to keep the country's Monetary Policy Rate (MPR) at 27...

READ ALSO
Economic Reforms Slash Nigeria's Debt Servicing from 97% to 50%- Oloyede
BY Abiodun Saheed Omodara July 22, 2025 0

The Chairman of the Presidential Fiscal Policy and Tax Reforms Committee, Taiwo Oyedele, revealed th...

READ ALSO
CBN, Private Sector Raise Concerns Over Nigeria Customs' B’Odogwu Digital Clearance System
BY Abiodun Saheed Omodara July 21, 2025 0

The Central Bank of Nigeria (CBN) and the organized private sector have expressed concerns regarding...

READ ALSO
Nigeria-Egypt Trade Surges by 68%, Foreign Minister Highlights Trade Imbalance
BY Abiodun Saheed Omodara July 21, 2025 0

Trade between Nigeria and Egypt has seen a significant increase of 68.45 percent over the past year....

READ ALSO
Enugu State Cuts Electricity Tariff for Band A Customers to N160/kWh, Effective August 1, 2025
BY Abiodun Saheed Omodara July 21, 2025 0

The Enugu State Electricity Regulatory Commission has released a new tariff order for MainPower Elec...

READ ALSO
Naira Weakens 0.14% Despite Initial Gains, Closing at 1,532.34/$
BY Abiodun Saheed Omodara July 21, 2025 0

The naira ended the past week weaker than the week before, depreciating by 0.14% week-on-week to rea...

READ ALSO
Nigeria's Electricity Tariff Subsidy Soars to N1.94 Trillion in 2024, Marking a 219.67% Increase
BY Abiodun Saheed Omodara July 18, 2025 0

The electricity tariff subsidy from the Federal Government has increased significantly from N610 bil...

READ ALSO
Nigeria Should Aim for 60,000 Megawatts of Power Generation- Dangote
BY Abiodun Saheed Omodara July 17, 2025 0

President of the Dangote Group, Alhaji Aliko Dangote, argues that Nigeria's low electricity generati...

OUR CHANNELS:

Nigeria Police Force Dismantles Notorious Arms Supply Network Linked to Bandits
BY Abiodun Saheed Omodara July 23, 2025 0

The Nigeria Police Force has successfully intercepted a notorious arms supply network linked to armi...


Maduka Okoye Suspended for Two Months Amid Betting Scandal
BY Abiodun Saheed Omodara July 25, 2025 0

Udinese and Nigerian goalkeeper Maduka Okoye has received a two-month suspension from the Italian Fo...


APC's National Assembly Power Grows to 70 with PDP Senator Defections
BY Abiodun Saheed Omodara July 24, 2025 0

The number of All Progressives Congress (APC) senators in the National Assembly increased to 70 on W...


Lagos State Mobile Court Prosecutes Five for Illegal Waste Disposal
BY Abiodun Saheed Omodara July 25, 2025 0

At least five individuals have been brought before a mobile court in the Bolade area of Oshodi, Lago...


Federal High Court Discharges Female Drug Offender on Compassionate Grounds
BY Abiodun Saheed Omodara July 24, 2025 0

Justice Daniel Osiagor of the Federal High Court in Lagos on Tuesday issued a caution and discharged...


APC Set to Appoint New National Chairman at Thursday's NEC Meeting
BY Abiodun Saheed Omodara July 24, 2025 0

A new National Chairman for the ruling All Progressives Congress (APC) may be appointed on Thursday...


Military Jet Crash at Dhaka School Claims 31 Lives, Sparks Nationwide Outrage
BY Abiodun Saheed Omodara July 24, 2025 0

Dhaka, Bangladesh – Grief and anger swept across Bangladesh following the tragic crash of a mi...


UK Sentenced Traffic Robber to 24 Years for Killing Footballer
BY Abiodun Saheed Omodara July 24, 2025 0

A court in the United Kingdom has sentenced 27-year-old Oguzcan Dereli to 24 years in prison for the...


Nigerian Lawmakers Demand Reversal of U.S. Visa Policy Changes Amid Concerns Over Economic Impact
BY Abiodun Saheed Omodara July 24, 2025 0

The House of Representatives on Tuesday urged the U.S. government to reinstate the five-year multipl...


CBN Maintain Interest Rate at 27.5%
BY Abiodun Saheed Omodara July 24, 2025 0

The Central Bank of Nigeria (CBN) has decided to keep the country's Monetary Policy Rate (MPR) at 27...


More Articles

Load more...

Menu