CBN raises alarm over fraudulent messages

By Damilare Adeleye

The Central Bank of Nigeria (CBN) has issued an urgent public alert about a surge in fraudulent emails, messages, and other online communications aimed at stealing personal financial data.

In a statement released on April 21, 2026, the Acting Director of Corporate Communications, Hakama Sidi Ali, warned that cybercriminals are masquerading as the apex bank to spread misinformation about licensing, policy decisions, and leadership.

These deceptive messages often contain malicious links intended to hack personal accounts. The CBN explicitly stated that any communication not traceable to its official website (www.cbn.gov.ng) should be treated as a threat.

This warning follows the signing of a strategic Memorandum of Understanding (MoU) between the CBN and the Nigerian Communications Commission (NCC) on April 20.

The partnership is aimed at tackling SIM-related electronic fraud and strengthening the integrity of the digital payment ecosystem through better coordination between the banking and telecommunications sectors.

The timing of this surge in fraudulent activity is not accidental. As Nigeria transitions toward a more integrated “digital economy,” cybercriminals are exploiting the gaps created by the rapid adoption of mobile banking.

The recent MoU with the NCC indicates that the government has identified SIM-swapping and mobile-linked electronic fraud as the primary vulnerabilities in the nation’s financial safety net.

By issuing this alert alongside the new NCC partnership, the CBN is moving from a “reactive” posture to a “proactive” one.

The bank is essentially acknowledging that technical cybersecurity frameworks are insufficient without high levels of public literacy. For the average Nigerian, the message is clear: the phone in your pocket is now the primary battlefield for financial security.

As the CBN strengthens its backend collaboration with telcos, it is simultaneously placing the responsibility of “first-line defense” on the consumer to verify every link and message before engagement.