Heritage Bank Agrees With NEFF On e-Fraud

By Ikenga Chronicles July 3, 2018

Heritage Bank Plc have reached an agreement with the Nigeria Electronic Fraud Forum (NEFF) to stop electronic fraud in the nation’s banking system.

The Managing Director /Chief Executive Officer, Heritage Bank, Mr Ifie Sekibo, who disclosed this at the unveiling of the 2017 NEFF annual report in Lagos, said the bank was very proud of the successes recorded by the forum.

Sekibo, who was represented by the bank’s Executive Director, Services, Mr Ike Williams, stated that the forum created a revolutionary effect in the conception of banking services in the industry.

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He said financial institutions in the country had exploited the successes to introduce innovative banking products,especially e-products.

It would be recalled that the Deputy Governor, Operations, Central Bank of Nigeria,Mr Adebayo Adelabu,while unveiling the NEFF 2017 annual report, entitled ‘Tightening the belt of e- fraud prevention: A four-sided approach’ , noted that an environment witnessing fast-paced growth in volume and value of electronic transactions would be prone to fraud attempts.

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Adelabu, who was represented by the Director, Other Financial Institutions Department,CBN, Mrs Tokunbo Martins, stated that a true test of resilience, security and strength of a payments system was loss minimisation and learning from the losses to forestall a recurrence.

He also emphasized the effectiveness of the forum’s existence in the last six years.

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