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Why Bankers Won’t Disclose Fraudsters - Professor Umaru Danbatta

The Nigerian Communications Commission (NCC) has said that there has been an increase in banking fraud in the nation more than what banks are willing to disclose.

Executive Vice Chairman of the Commission, Professor Umaru Garba Danbatta said this yesterday in Minna while presenting a paper titled ‘Promoting Regulatory Framework for Safety and Security on the Internet’ at the North Central Zonal Internet Governance Forum.

According to him: “Banks are unwilling to discuss the fraud that happens within the banks due to the fear of liquidation and loss of customers.

“The banks do not report a lot of fraud because of liquidation problems. They are scared that their customers will leave if they report such incidences, these banks feel that the customers will not have confidence in them anymore.”

Danbatta also said that the non-disclosure by the banks is militating against the statistics towards ensuring cyber security, pointing out that it is only collaboration and cooperation between private and public organisations to help build the capacity of cyber security policies across the nation.

In her address, the Chairperson of the Forum, Mrs. Mary Uduma argued the need for adequate sensitisation to be done about cyber security and dangerous speeches.

The Coordinator of the Hate Speech Project, Isah Garba, said that its monitoring project revealed that the nation recorded 6,258 hate speeches in 2016. He said that out of the hate speeches, 2,603 were of religious content, 421 were political, 2,449 were of ethnicity, 283 Biafra, 134 about herdsmen, 118 on bye elections while the others were of general content.