Customers seek intervention as EFCC, other authorities seem powerless to tackle crime
By Jeph Ajobaju, Chief Copy Editor
Rising illegal withdrawal of customer deposits across multiple banks has ruined the lives of many victims who are blaming the scam on insider knowledge and operation of bank staff, with the banks themselves doing little to stop the thefts.
The Economic and Financial Crimes Commission (EFCC) has confirmed that bank employees aid the crime which it said is perpetrated mostly by Information and Communications Technology (ICT) staff.
The victims decried the fraud and want the Central Bank of Nigeria (CBN) and the anti-graft agencies to do something urgently to stop it by arresting, prosecuting, and jailing the criminals to deter them and others who want to join them.
Most illegal withdrawals from bank accounts are in connivance with bank staff, they said in a survey conducted by the News Agency of Nigeria (NAN), reported by The PUNCH.
The survey covers the views of bank customers, bankers, cybercrime experts, and stakeholders in financial sector regulation.
Helen Isiguzu (new generation bank customer)
“Fraud is being perpetrated in almost all the banks, unlike before, and it is more rampant in some banks.
“What is happening in banks these days is discouraging me from depositing my money with them.
“No wonder the Central Bank of Nigeria said there is so much money in the hands of Nigerians outside the banks.
“People are beginning to lose hope in commercial banks.
“Instead of my money to develop wings and disappear from my account just in a day, I rather invest it into real estate business and it will yield greater profits.”
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Anthonia Ibedalu (new generation bank customer)
“Some banks in the country are operating below international standards.
“The authorities, including the Federal Competition and Consumer Protection Commission [FCCPC], should step up action and save customers from fraudulent activities in some banks.
“I travelled to South Africa for a period of three years but I had a dollar account in one of the banks.
“When I got back to Nigeria for holidays, I decided to take the money but to my surprise, I was told the money was no longer there.
“I enquired to know what happened but was told my account was hacked into. I wondered how an account that no other person had the details could be hacked into.
“When I contacted higher authorities in the bank, they investigated and my money was refunded.
“They did not tell me the result of their investigation but from their responses, it was an insider thing. I now ask, what if I didn’t know who to contact.”
Louis Otagoro (former banker)
The Chartered Institute of Bankers [CIBN] should ensure that only trained professionals practise in the industry.
“The CIBN should step up actions to ensure that banking profession does not become an all-comers affair.”
Ken Opara (CIBN President)
He previous reiterated the CIBN is committed to the observance of ethics and professionalism among practitioners in the banking industry.
Babatunde Irukera (FCCPC Executive Vice Chairman)
He previously disclosed the FCCPC is engaging with banks to address customer-related issues.
Abbah Sambo (EFCC Head of Cybercrime)
“Most banking fraud handled by the EFCC show that bank employees aid the acts.
“The fraud is mostly perpetrated by insider ICT [Information and Communications Technology] employees of banks.
“The increasing rate of cybercrime in spite of the best efforts by the EFCC to tackle it is regrettable.
“In years past, young people involved in cybercrime were not ICT savvy, but today, it is ICT graduates that are champions in perpetrating the crime.”