As the creation of fake apps becomes new threats plaguing consumers everywhere, the Nigeria Deposit Insurance Corporation (NDIC) has advised the public to beware of applications requesting for their full details as there is higher risk of being swindled by cyber criminals.
The managing director and chief executive of NDIC, Mr Mohammed Bello-Hassan gave the warning while addressing participants at the 2023 annual conference of the Finance and Business Online Publishers Association (FiBOP) held in Lagos.
Speaking on the theme of the event ‘Mitigating risk and insecurity using insurance and technology in a harsh economy, Bello who was represented by the head of media at NDIC, Hawwau Gambo said there are not a few fake apps available across different app stores.
“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,” he said.
Thereafter, he commended FiBOP for coming up with a timely topic that would help to unmasked ills and checkmate them.
He charged the body 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
He said trust is a pillar on which all forms of transactions are conducted.
He recalled the revocation of the licenses of 179 microfinance banks by the Central Bank of Nigeria (CBN) saying NDIC had been able to pay the eligible and credible depositors.
“Very recently, we instituted what we call single customer view which is specifically like a data base where we have all the information about the depositors and this is something we are working on so that in the event of bank failure we don’t have to wait…we can automatically reimburse depositors.
“Very recently too following the revocation of licences of almost 179 micro-finance banks and primary mortgage institutions, the NDIC this time around started paying the depositors within seven days and the payment is ongoing,” he said.
Also speaking the group managing director, CRC Credit Bureau Limited, Dr Ahmed Popoola said risk management is meant to take steps to prevent future loss or danger.
The CEO who was represented by the bureau’s chief commercial officer, Mrs Peggy Chukwuma-Nwosu, said there must be a reason for accessing its data.
“This can be done to ascertain the credibility of an individual. 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,” he added.
