Photo caption: Chief Commercial Officer, CRC Credit Bureau, Mrs. Peggy Chukwuma-Nwosu,the Deputy Director /HOD ,External Affairs, Securities and Exchange Commission(SEC), Bagudu Muhammed, Head, Media Relations, NDIC, Hawwau Gambo, President, FiBOP, Mr. Charles Onwuatogwu at the FiBOP 2023 Annual Conference held at Orchid Hotels, Lekki, Lagos.
…Says Chances Of Being Defrauded Very High
Nigeria Deposit Insurance Corporation (NDIC) has advised the public to do away with applications (Apps) requesting for their full details as they stand a higher risk of being defrauded by Ponzi scheme fraudsters, operators and hackers.
The Managing Director and Chief Executive of NDIC, Mohammed Bello-Hassan gave the advice while speaking at a two-day Finance and Business Online Publishers Association (FiBOP) 2023 Annual Conference in Lekki,Lagos.
According to him, “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.”
Speaking on the theme, “Mitigating Risk and Insecurity Using Insurance and Technology in a Harsh Economy” the NDIC boss commended FiBOP for coming up with the theme, adding that it would not only help to unmasked ills associated with finance but that it would assist in checkmating them.
He charged FiBOP to do more by reporting and educating the society and especially the investing public on illegal schemes and their modus operandi.
NDIC, he said is ready to confront and conquer all forms of illegalities and ensure culprits are sanctioned in accordance with the law.
According to him, trust is a pillar on which all forms of transactions are conducted.
He recalled that with the revocation of the licenses of 149 microfinance banks by the Central Bank of Nigeria (CBN), the NDIC has been able to pay depositors who are eligible and credible.
The NDIC boss was represented by the Head of Media, NDIC, Hawwau Gambo,
Also speaking, the Group Managing Director/CEO of CRC Credit Bureau, Dr. Ahmed ‘Tunde Popoola in a good will message described risk as the ability that something can go bad and making provisions to prevent future loss or danger.
According to the CRC Credit Bureau, there must be a reason for accessing its data and that this can be done to ascertain the credibility of an individual.
“For instance, if two persons each obtained a 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. Another reason for accessing data is for investigation or an attempt to detect fraud amongst others,” he said
Popoola was represented by the Chief Commercial Officer, CRC Credit Bureau, Mrs. Peggy Chukwuma-Nwosu.
Chukwuma-Nwosu informed that CRC Credit Bureau credit worthiness assessment and valuation is honoured in Nigeria and also globally, as it is licensed by the Central Bank of Nigeria (CBN)
The Securities and Exchange Commission (SEC) in its goodwill message commended FiBOP stressing that the exposé on the theme has equipped people to avoid risk as prevention is better than cure.
The body said that SEC with the CBN and other financial institutions to boost the Nigerian economy.
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