By Douglas Ogbankwa Esq.@douglasogbankwa@fma.com
Banking Procedure and Mores, sure looks normal, but I tell you there is quite a lot you take for granted in your every day banking measures that might turn out to be the game changer; when the chips are down.
The Following are some profound Banking Protocols to take cognisance of :
1. Read every document carefully before signing same. Do not be carried away by the nuances of your account officer telling you; “sign here,” “sign here” and you keep signing, you may well be signing away your fortune and all your money!
2. Do not be secretive with bank account details from your family members; many bank accounts worth billions of Naira are abandoned because their deceased owners kept the details away from their loved ones.
Giving them access to your ATM PIN will enable them access cash easily if there was an emergency and the account owner is incapacitated.
A Man died with hundreds of millions in his account, when he needed money to be flown abroad owing to an ailment and his family could not access same because he was incapacitated!
The Customary Court approached by his family refused to grant an Order granting access to the Account stating that; that can only be done if he was dead and indeed he died of lack of funds to treat himself, even when he had hundreds of Millions of Naira in his Account.
3. Never assist any one in the queue to collect money from the ATM; he may just be a fraud that needed a pawn to pick money for him or her, that will make the pawn be the culprit, while he, real culprit goes Scot Free!
4. Never give someone your ATM Card to withdraw money for you except you know the person so well, he or she may use your ATM 14 Digits ATM Numbers to configure a mobile money App and steal your money.
Some of these thieves on the queue are so smart that they can memorize your ATM’s 14 Digits in seconds, if they see your ATM just once.
5. If you lived abroad, subscribe only to the email credit and debit alert system, because if you subscribed to the SMS Alert and your phone in Nigeria is not active for six months, the line will be deactivated and resold to another subscriber who will be getting alert and then he can use the phone to configure USDD to steal your money. Be very careful how you give people access to your alert line, it could be compromised and your account hacked .
6. When you have an unresolved issue with the Bank, before you submit any of the stamped Complaint Forms, make a photocopy because that is the only evidence you have to show that you have made a formal Complaint, when you need to make a Report to the Central Bank.
7. Analyse your Statement of Account with a Forensic Auditor if you have a huge volume of transaction and perhaps you will find some obnoxious and sometimes fraudulent charges, that will shock you! This could even run into millions.
8. Never have an affair with your account officer; banking relationship is fiduciary, it will make you vulnerable to be defrauded!
9. Do not use ATM at Remote places at night; you could be attacked or kidnapped.
10. Avoid using Another Bank’s ATM; Dispense Errors and Machine Confiscated ATM Issues are difficult to resolve with them.
11. To avoid unnecessary charges, sign-up to Email Statements of Accounts. This will make your Statement of Account saved on your email without paying for it.
12. Don’t give your account to anyone to receive money no matter how close; you could end up in deep shit, if it turned fraud related
13. Do not give someone on the ATM Queue your account Number for him to transfer to you, to withdraw for him or her; it could land you in trouble.
14. Do not disclose your BVN, your ATM Pin or Account Details to strange callers on the Phone, they are likely to be fraud.
15. Delete your credit and debit alerts from your phone for safety reasons!
16. Do not sign recommendations as Guarantor for current account holders you don’t know so well; you may land in Police or EFCC Trouble based on your recommendation.
17. Do not carry huge cash to and from the Bank; it could endanger your life! Many have died from such a habit; Do electronic transfers. Also, do transfers for high net transactions, do not pay cash. Having a person’s Account is a Security that can make you have details of the Person if you need to track him or freeze the person’s Account.
18. Do not Guarantee Loan Transactions for persons you cannot vouch for!
19. Be aware that there are penalties for some infractions of the Bank against you for example; for an unresolved ATM Dispute within the stipulated time, you are entitled to Ten Thousand Naira Compensation. There are CBN issued Guidelines providing for such! Google CBN Customer Complaint Platform for more details on the Matter.
The Central Bank of Nigeria (CBN) Public Complaint Response Unit.
The CBN has a robust Public Complaint Response Regime and did you know that for every delayed attention to your unresolved ATM/POS Dispense Error you are entitled to ten thousand naira as compensation from your bank? People have been paid and if you insist on it, you will indeed be paid.
The Central Bank of Nigeria is open for business Monday through Friday except on national holidays. Our working hours are from 8:00a.m. – 4:00p.m.
Email:
contactcbn@cbn.gov.ng
Complaints Against Financial Institutions: cpd@cbn.gov.ng
Forex Helpdesk forexcomplaint@cbn.gov.ng
Ethics & Anti-Corruption: ethicsoffice@cbn.gov.ng
anticorruptionunit@cbn.gov.ng
Website/Technical Issues:
webmaster@cbn.gov.ng
Issues on CBN Branches: tellbod@cbn.gov.ng
Phones:
+234 700 225 5226
Authorized Dealer Enquires: +234 9 462 37804, or
+234 9 462 37802
Commercial Agricultural Credit Scheme (CACS): +234 9 46237602
Ethics & Anti-Corruption Helpline: +234 9 462 39246
+234 9 462 36000
Forex Helpdesk: +234 9 462 37827, +234 9 462 37831
Letters/Our Location:
Central Bank of Nigeria,
Plot 33, Abubakar Tafawa Balewa Way
Central Business District,
Cadastral Zone,
Abuja, Federal Capital Territory,
Nigeria
P.M.B. 0187,
Garki Abuja.
Nigeria
Fraudulent Emails, Identity Theft and Financial Fraud
The Central Bank of Nigeria is aware that its name and that of some of its staff are being used to validate a range of different forms of fraud, perpetrated against innocent third parties. The identity theft element of these scams can include fraudulent emails, the replication of faxes from the Bank, copies of our website and the creation of a false telephone switchboard.
Whilst the Central Bank of Nigeria can take no responsibility for losses arising from such sites, services or documents, we are dedicated to the task of playing our part in reducing identity theft and fraud.
If you have any doubts about the legitimacy of any correspondence purporting to be from the Central Bank of Nigeria please do not hesitate to see our customer care service. If you have received what is obviously a fraudulent email purporting to be from the Bank, it is important that you do not access any links within it, disclose any personal information or reply to it.
National Clearing System Re-Visited
In January 1995, a revised clearing rule became operational to facilitate effective clearing of financial instruments and shorten the period of clearing. Consequently, inter-state cheque clearing time was reduced from 21 days to 15 days, while intra-state clearing has been reduced from 12 days to 9 days.
Contact the CBN Public Complaint Response Unit .
Phone: +234 700 225 5226
Email: contactcbn@cbn.gov.ng
Complaints Against Financial Institutions:
cpd@cbn.gov.ng
Authorized Dealer Enquires:
+234 9 462 37804, +234 9 462 37802
Commercial Agricultural Credit Scheme (CACS):
+234 9 46237602
Ethics & Anti-Corruption Helpline:
+234 9 462 39246 +234 9 462 36000 ethicsoffice@cbn.gov.ng anticorruptionunit@cbn.gov.ng
Forex Helpdesk:
+234 9 462 37827 +234 9 462 37831
Address
Central Bank of Nigeria
Plot 33,
Abubakar Tafawa Balewa Way
Central Business District,
Cadastral Zone,
Abuja,
Federal Capital Territory,
Nigeria
P.M.B. 0187,
Garki Abuja.
Nigeria
We are open for business Monday through Friday except on national holidays. Official visiting days are Tuesdays and Thursdays by appointment only. Our working hours are from 8:00a.m. – 4:00p.m.
About the Author
Douglas Ogbankwa Esq. is the Convener of the Security Situation Room
