CBN Issues Urgent Alert Over Surge in Cyber Fraud

The Central Bank of Nigeria (CBN) has issued an urgent warning to the public regarding a rise in fraudulent online communications, emails, and text messages falsely claiming to originate from the bank. In a statement released Tuesday by the Acting Director of Corporate Communications, Hakama Sidi Ali, the apex bank cautioned that these messages are orchestrated by cybercriminals aiming to harvest personal and financial data.

The scams typically employ two key tactics: spreading misinformation regarding the bank’s leadership, policy decisions, or licensing status, and prompting recipients to click malicious links. The CBN confirms these links are designed to compromise personal accounts, essentially turning the user’s interaction into a gateway for unauthorized access.

Key Advisory Measures

To combat these threats, the CBN has provided clear guidelines for the public:

• Verify Official Channels: The only authentic website for the Central Bank of Nigeria is www.cbn.gov.ng.

• Exercise Caution: Do not click on suspicious links or provide personal information to unverified websites or senders, regardless of how official the message may appear.

• Report Suspicious Activity: Any suspected fraudulent emails, websites, or messages should be reported immediately to law enforcement authorities.

• Cross-Reference Information: Always confirm news regarding bank policies or leadership changes through recognised media outlets and the CBN’s official portal.

Read Also: New Central Bank Rules Tighten Digital Banking Security

Context of Rising Digital Risks

This warning arrives during a period of heightened insecurity within Nigeria’s digital financial landscape. Recent weeks have seen reported intrusions affecting several major institutions, including the Corporate Affairs Commission (CAC), Remita Payment Services Limited, and Sterling Bank. These incidents have sparked investigations by the Nigeria Data Protection Commission (NDPC), which is currently auditing the security protocols of public and private entities.

Cybersecurity experts suggest that the surge in incidents across Nigerian financial and government platforms reveals shared vulnerabilities, particularly concerning outdated software, inadequate access controls, and uneven incident response. The CBN has reaffirmed that it is actively collaborating with relevant agencies to strengthen its cybersecurity frameworks. The goal is to insulate the broader financial system from the growing sophistication of global and local cyber-threats targeting data and capital.