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ANTI-ELECTRONIC FRAUD STRATEGY SET UP BY THE CBN

A new anti-electronic fraud strategy has been set up by the Central Bank of Nigeria (CBN). This development became imperative following the rate of electronic fraud recorded over time and linked to be as a result of insider abuse. A two-factor authentication for internal banking at log in points for applications driving transfers, withdrawal, deposit, standing order, account maintenance and system maintenance processes; has been created.

It will also include the implementation of a “Maker/Checker” control structure for all payment platforms, such as the accounts and database system maintenance on core banking systems. Transaction limits for maker/checker control will be based on individual bank’s risk capacity and all Deposit Money Banks (DMB’s) in the country. In line with this, the apex bank has requested that an implementation plan be submitted by 30th January, 2015, with full compliance to the plans of setting transaction limits for maker/checker control slated for 31st December, 2015, with a penalty of N50, 000 daily for defaulting banks.

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NOTICE OF PUBLIC HOLIDAY TO THE GENERAL PUBLIC

This is to inform the general public that the embassy will be closed on thursday, 25th may, 2017 to commemorate the ascension day 2017.

Therefore, on wednesday, 24th may, 2017 the embassy will be closed at 1p.m.

However, normal official work will resume on friday, 26th may, 2017.

Thank you.

Head of Chancery
For: Chargé D’affaires, A.I.

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